Language that allows the Federal Housing Administration to continue insuring Home Equity Conversion Mortgages was included in a package of six appropriations bills that passed the House of … more HECM Cap Language Included In THUD Appropriations Bills
Reference Section
FHA Extends Appraisal Validity Period
The Federal Housing Administration published Mortgagee Letter (ML) 2022-11, Revised Appraisal Validity Periods., which extends the initial appraisal validity period from 120 days to 180 days and the … more FHA Extends Appraisal Validity Period
Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
While 79% of employed workers are saving for retirement, 39% of them said they tapped their retirement accounts during COVID, including 29% who took a loan and 27% … more Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
Survey: 70% of Retirees Have This Regret
More than two-thirds (70%) of American retirees wished they had saved more and planned earlier for retirement, according to the 2022 Retiree Reflections Survey, published recently by the … more Survey: 70% of Retirees Have This Regret
Average US Retirement Savings Is $168K, Survey Says
A recent survey of 1,000 Americans conducted by ConsumerAffairs found that the average amount saved for retirement across all age groups was $167,944, while Baby Boomers had the … more Average US Retirement Savings Is $168K, Survey Says
Report: Aggregate Home Equity Exceeds Record $26 Trillion
Housing wealth has increased 39 consecutive quarters, increasing from $10.1 trillion in early 2012 to a new peak of $26.3 trillion at the end of 2021, according to … more Report: Aggregate Home Equity Exceeds Record $26 Trillion
Common HECM Questions Posted to FHA’s FAQ Website
The Federal Housing Administration’s Frequently Asked Questions (FAQ) website, a great resource for HECM-related questions, has moved to a new platform that introduces improvements to the search functionality … more Common HECM Questions Posted to FHA’s FAQ Website
A Closer Look at Issues Facing the Appraisal Industry
Reverse Mortgage magazine outlined some of the issues facing the appraisal industry in its March/April 2022 edition, which can be found online at www.nrmlaonline.org/. Here is a closer … more A Closer Look at Issues Facing the Appraisal Industry
Sarah Cavanaugh, SVP, Operations-Retail, Finance of America Reverse
This past January, Sarah Cavanaugh celebrated 30 years in the reverse mortgage business. When the National Reverse Mortgage Lenders Association held its first-ever conference in 1997 … more Sarah Cavanaugh, SVP, Operations-Retail, Finance of America Reverse
AARP: Over Half of Older Americans Happy With Finances
A new survey from AARP finds that just over half of Americans in their 70s (51%) and 80s (52%) rate their financial situation today as excellent or very good. When … more AARP: Over Half of Older Americans Happy With Finances
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