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April 29, 2014

HUD to Extend HECM Safeguards to Surviving Non-Borrower Spouses

By George Brooks

Reverse mortgages guaranteed by the government are due and payable upon the death of the homeowner, the sale of the home, and other conditions, including the failure to reside in the property or pay the taxes and insurance.

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Poll

HUD has announced a 25 basis point cut in FHA premiums, which is slated to take effect in late January. Is your lending shop for or against a cut in FHA premiums?

For. It should help lending volumes.
Against. The private MI sector should take on this risk, not the government.
Too early to say.
I believe the new White House may scuttle the idea so it doesn’t matter.

vote to see results