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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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What the Trump Administration Means for Reverse Mortgages

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ALERT: Oct. 2017 HUD to Lower Benefits/Raise Costs Under President Trump-Sec. Carson Why Trump's Policies Could Increase Reverse Mortgage Demand No matter your political stripe, presidential transitions mark a time of change and uncertainty—after eight years of policies shaped by one administration, another one comes along with a different perspective and plan for governance. If you’re nearing retirement, that anxiety could...
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