HUD Raises Costs on Reverse Mortgages
Scotsman Guide, Aug. 29, 2017–Victor Whitman
The Trump administration announced Tuesday that it was raising the premiums for most reverse mortgages and lowering the maximum amount that can be borrowed in an effort to stem the tide of losses to the Federal Housing Administration insurance fund. The nation’s largest mortgage trade group, the Mortgage Bankers Association, praised the move as a way for the program to remain financially viable.
