The Federal Housing Administration on Wednesday announced new policies that will allow for faster payment of funds to mortgagees when they assign a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, to HUD.
Tag: Home Equity Conversion Mortgage
FHA Adds COVID-19 Forbearance Relief Options
The Federal Housing Administration on Sept. 27 announced new and extended COVID-19 relief options for borrowers recently or newly struggling to make their mortgage payments because of the pandemic and for senior homeowners with Home Equity Conversion Mortgages who need assistance to remain in their homes.
FHA Announces Temporary Partial Waivers to HECM Policy
FHA on Thursday issued temporary partial waivers to its Home Equity Conversion Mortgage (HECM) policies. These waivers provide mortgagees with expanded flexibility to help senior homeowners with HECMs who are struggling financially due to COVID-19.
FHA Follows Suit, Raises Single-Family Loan Limits for 2021
As expected, the Federal Housing Administration matched Fannie Mae and Freddie Mac in its single-family and Home Equity Conversion Mortgage insurance programs for 2021.
FHA 2020 Actuarial Report: MMI Fund Capital Ratio at 13-Year High
The Federal Housing Administration om Friday said its Mutual Mortgage Insurance Fund capital ratio ended fiscal year 2020 at 6.1 percent, well above its congressionally mandated 2.0 percent capital ratio to its highest level since 2007.
FHA Raises 2020 Forward, Reverse Loan Limits
The Federal Housing Administration published Mortgagee Letter 2019-19 and Mortgagee Letter 2019-20, which raises the maximum mortgage limits for FHA-insured Title II forward mortgages and Home Equity Conversion Mortgages.
FHA Actuarial Report Shows MMI Fund Capital Ratio at 12-Year High
FHA released its 2019 Annual Report to Congress, showing the FHA Mutual Mortgage Insurance Fund–which fell to dangerously low levels earlier in the decade–rose to its highest level since fiscal year 2007.
FHA Actuarial Report Shows MMI Fund Capital Ratio at 12-Year High
FHA released its 2019 Annual Report to Congress on Nov. 14, showing the FHA Mutual Mortgage Insurance Fund–which fell to dangerously low levels earlier in the decade–rose to its highest level since fiscal year 2007.