HECM
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HUD Rescinds ML 2008-38 Non-Recourse Clarification
Apr 06, 2011In a first public action since taking leadership of the FHA, Acting FHA Commissioner Robert Ryan signed the Department of Housing and Urban Development's Mortgagee Letter 2011-16 rescinding Mortgagee Letter 2008-38 that clarified their interpretation of the HECM non-recourse provisions to not include non-arm's length transactions. In rescinding ML 08-38, ML 11-16 states that the intent of the previous guidance was to "supplement and explain provisions contained in the at 24 CFR §206.125 and HUD Handbook 4235.1 (Home Equity Conversion Mortgages)." The action is the result of "uncertainty regarding the guidance," and HUD plans to issue new guidance
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New Rules, Higher Costs for RM Borrowers
Apr 06, 2011 -
NRMLA West: HUD Update
Mar 17, 2011 -
Ginnie Mae HMBS Issues Climb in February
Mar 14, 2011 -
Suze Orman Urges Caution with Reverse Mortgages
Mar 09, 2011 -
AARP Files Suit Against HUD for RM Policies
Mar 09, 2011 -
Wholesale Endorsements Bounce Back
Mar 08, 2011 -
AARP Report Reviews Reverse Mortgage Changes
Mar 04, 2011 -
Why is Income Qualifying Surprising?
Mar 03, 2011 -
Endorsements Up, Applications Down
Mar 02, 2011 -
NRMLA West 2011
Feb 24, 2011 -
TRR Interview: Craig Corn
Feb 21, 2011
