Originations of Reverse Mortgages Fall
NationalMortgageNews tells MHProNews.com that originations of government-backed Home Equity Conversion Mortgages (HECM) have fallen by 950 to 1150 loans a month. October and November both saw 4,650...
View ArticleSingle-family Loans Fall in Feb.
OriginationNews tells MHProNews.com FHA-backed single-family mortgages fell almost ten percent in Feb. from the previous month as lenders originated $16.5 billion in loans. According to HUD, lenders...
View ArticleCFPB to Require more Transparency in Reverse Mortgage Market
NationalMortgageNews reports senior citizens, the primary target of reverse mortgages, do not fully understand its risks and features and the tradeoffs involved, leading the Consumer Financial...
View ArticleWould the Fonz Have Approved?
In recent commercials on TV, Henry Winkler is promoting reverse mortgages, telling people they can continue to live in their homes without worry. Reverse mortgages permit homeowners 62 and older to...
View ArticleReverse Mortgages Need an About-face
As a result of the housing downturn and the slow economic recovery, more seniors have turned to the Home Equity Conversion Mortgage (HECM) program (reverse mortgage), backed by the Federal Housing...
View ArticleMortgage Debt: Problematic for Retirees
The Consumer Financial Protection Bureau (CFPB) says 30 percent of homeowners over 70 have mortgages to pay off. A study for 2001 reports eight percent of owners over 75 were carrying mortgage debt....
View ArticleFederal Housing Authority Lowering Loan Limits
The Federal Housing Administration (FHA) has revised the loan limit ceiling for single-family mortgages in 2014, reducing it to $625,000 from $729,750. The change will result in approximately 650...
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