Finance of America Reverse has announced a new offering backed by active, first-lien Home Equity Conversion Mortgage loans purchased from Ginnie Mae pools and other third parties.
A bipartisan group of lawmakers has urged House leadership to stop further hikes in VA home-loan funding fees to pay for non-housing veteran benefits. The spending on future veterans’ benefits should be shared by all Americans or paid through direct appropriation of funds, they say.
New York Governor Andrew Cuomo signed into law a bill prohibiting deceptive advertising and marketing of Home Equity Conversion Mortgage loans. The law takes effect March 5, 2020.
Borrower demand for FHA-insured loans was strong in the third quarter due to low interest rates. Not surprisingly, refinance activity, streamline refinancing in particular, provided the boost.
Proposed changes to the Section 502 Direct Home Loan and Grant Program would improve flexibility and make the DHLGP accessible to more low- and very-low-income rural borrowers.
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