• Sign In
  • Create Account
  • Sign Out
  • My Account
Cart
  • Inside Mortgage Finance
  • MBS & ABS
  • The GSEs
  • The CFPB
  • Mortgage Trends
  • FHA/VA Lending
  • Nonconforming Markets
  • Data
    • Subscribe to Data
Home » Carson Open to Excising HECM From Mortgage Insurance Fund
Looking to read the full article? Subscribe today!

Carson Open to Excising HECM From Mortgage Insurance Fund

October 13, 2017
Department of Housing and Urban Development Secretary Ben Carson indicated he is open to the idea of moving the Home Equity Conversion Mortgage program out of the FHA Mutual Mortgage Insurance Fund to stem future losses. Testifying before the House Financial Services Committee this week, Carson said the changes the department has made recently, as well as those currently under consideration, will eliminate most of the program’s problems although residual issues may still linger. Carson acknowledged that the HECM program’s default rate has been a drain on the MMI Fund even though it is much smaller than the FHA’s forward loan portfolio. The recently revised HECM rules issued on Sept. 19 have “stopped the bleeding” in terms of new reverse mortgages, he added. However, separating the HECM portfolio from the FHA insurance fund and making it a stand-alone program is ...
News Inside Mortgage Finance Inside Nonconforming Markets Inside Mortgage Trends Inside FHA/VA Lending Inside the CFPB Government-Insured Lending Mortgage Insurance Originations Servicing Originations Profitability Government-Insured Originations Programs & Policies FHA Complaints Enforcement Regulation
Purchase this article for $55.00
Subscribe To The Newsletter

Latest Imf News

  • NYCB Unveils Massive Mortgage Restructuring Plan, Will Reduce Coverage by Almost 70%

  • CDFI Proposal Could Impact Non-Agency Players

  • AGNC Turns a Profit in Final Quarter of Tough Year

  • A Good Year for Ginnie, With Net Profits Just Shy of $1.5 Billion

More Imf News

Featured Data

  • PennyMac Leads Ginnie Issuers as Bottom Falls Out

  • Non-Agency MBS Issuance Fizzles in Fourth Quarter

  • ABS Issuance Thumped in 4Q22 but Rebound Ahead

  • PMI Volume Hammered in 4Q22 as FHA Gained Share

More Featured Data

Featured Reports

  • GSE Repurchase Activity: Cumulative to Second Quarter 2022 (PDF Format)

  • Top Mortgage Players 3Q22 (PDF Format)

  • Agency Channel Analysis: 3Q22 (PDF)

  • IMF HMDA Dashboard: 2021

More Latest Reports

Featured Poll

Sales of bulk mortgage servicing rights are at a fever pitch these days. Has your shop gotten in on the buying frenzy?

View Results
  • About
    • About Inside Mortgage Finance
    • Contact Us
    • Advertising
    • Privacy Policy
    • Article Reprints/Web Postings
    • Copyright FAQ
  • Customer Center
    • Subscribe
    • Request a Sample
    • Account Inquiries
    • Change of Address
    • Change of Delivery Method
    • Data Licensing
    • Password Reminder
    • Group Subscriptions
    • Refunds
    • Renew Your Subscription
  • Mortgage Data
    • Origination
    • Servicing and Portfolios
    • Mortgage Insurance
    • Securitization
    • Agency MBS Activity
    • Non-Agency MBS Activity
    • MBS Investor Activity
    • ABS Activity
    • Commercial MBS Activity
    • Funding Activity
    • Earnings and Financials
    • Regulatory Data
    • Mortgage Rates and Terms
    • Subscribe to Data
    • Lender Profiles
    • HMDA Dashboard
    • Contacts Directory
    • Custom Data
    • Data Licensing
  • Reports
    • Data Reports
    • Industry Studies
    • Regulatory Reports
    • Statistical Annual
    • Free Reports

© Copyright 2023 Inside Mortgage Finance Publications
Design, CMS, Hosting & Web Development :: ePublishing