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Home » Store » Taxable » FHA Upgrades Reverse Mortgage Program, Warns of Increasing Fraud by Loan Officers

FHA Upgrades Reverse Mortgage Program, Warns of Increasing Fraud by Loan Officers

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With the reverse mortgage market heating up, the Department of Housing and Urban Development has revamped its FHA program to attract even more borrowers and lenders – while also warning that there has been an increase in fraud surrounding these loans. HUD is also reportedly looking at ways to use Ginnie Mae to securitize FHA home-equity conversion mortgages, which account for 90 percent of all reverse mortgage originations in the market. Some $926 million of reverse mortgages, mostly FHA-insured HECMs...
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