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Higher Reverse Mortgage Limits Announced for 2018

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Higher Reverse Mortgage Limits Coming January 1st 2018 Starting in 2018, lending limits for government-insured reverse mortgages will increase, allowing borrowers the opportunity to access more of their home equity than ever before. The vast majority of reverse mortgages are federally-insured Home Equity Conversion Mortgages (HECMs) that are backed by the Federal Housing Administration. These loans allow homeowners age 62...
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Unveiling All-NEW 2018 Jumbo Reverse Mortgages to $4M

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HUD Tightening Encourages the Return of Jumbo Reverse Mortgages This is the time to look (perhaps your second look) at the All-New 2018 JUMBO reverse mortgage programs.  Traditionally, most borrowers, ages 62 and over, have benefited from the HUD Home Equity Conversion Mortgage (HECM or “Heck-um”). The reverse mortgage program has undergone some rough years.   The Department of Housing and Urban Development (HUD) has made one move after another, making it...
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All Reverse Mortgage® to Buy in Del Webb Retirement Community (Client Success Story)

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An All Reverse Mortgage® Client Success Story in Del Webb Active Adult Retirement Community  Nancy D’Angelo first heard about using a reverse mortgage to buy a home through some friends with a problem: They were moving from the South to Orange County, Calif., where sky-high real estate prices meant they couldn’t cover the cost of a new home just...
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Understanding Reverse Mortgage Insurance Premiums (Updated 2017/2018)

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A federally-insured reverse mortgage comes with the benefit that you, the borrower, will receive loan payments as agreed upon by the terms of your loan, and will never owe more than your home is worth. Those benefits are guaranteed by the Federal Housing Administration through its Home Equity Conversion Mortgage program, which includes the vast majority of reverse mortgages out there....
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Oct. 2017 HUD Moves to Lower Limits & Raise Costs Under President Trump-Sec. Carson

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In our recent article dated July 26, 2017, we indicated that a new administration in Washington marks a time of uncertainty and uneasiness as people try to guess what the new policies will be.  The announcements made by HUD today answered some of those questions with regard to the Home Equity Conversion Mortgage program.  Lenders had been hearing bits and...
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California Reverse Mortgage Counseling Rule Change of 2017

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Purpose The purpose of this bulletin is to restate and update new California requirements regarding required disclosures, counseling, timing for when certain fees may be incurred on the borrower’s behalf, and when other activities related to the origination and processing of a loan may be performed. Implementation These requirements are effective for all California reverse mortgages with applications taken...
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