News & Analysis as of

Fair Housing Act (FHA) HECM

Bradley Arant Boult Cummings LLP

Impact of Revised FHA Handbook on Reverse Mortgage Servicers

Following a long wait, the U.S. Department of Housing and Urban Development (HUD) published a revised version of the Fair Housing Administration’s (FHA) handbook governing the origination and servicing of FHA loan products,...more

Bradley Arant Boult Cummings LLP

HUD Revises the HECM Program in Response to Changing Market Conditions

Last week, the Department of Housing and Urban Development (HUD) revised multiple regulations and requirements related to servicing Home Equity Conversion Mortgages (HECMs, more commonly known as “reverse mortgages”), with...more

Ballard Spahr LLP

HUD Recently Announced the 2024 Loan Limits for FHA Forward Mortgages and HECMs

Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development (HUD) recently announced the 2024 loan limits for FHA insured forward mortgage loans and FHA insured Home Equity Conversion Mortgages (HECMs). The announcements were made...more

Alston & Bird

HUD Seeks Comment on Proposed Notice to Change HECM for Purchase Program to Expand Funding Sources and Interested Party...

Alston & Bird on

A&B Abstract: On October 24, 2023, the U.S. Department of Housing and Urban Development (“HUD”) published, for public comment, a Federal Register Notice (“Proposed Notice”) to implement changes to the Federal housing...more

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - November 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Bradley Arant Boult Cummings LLP

FHA Amends HECM Assignment Claim Type 22 Submission Requirements

Affirming its commitment to the senior citizen population, on May 17, 2023, the Federal Housing Administration (FHA) issued Mortgagee Letter 2023-10, implementing amendments to the Home Equity Conversion Mortgage (HECM)...more

Bradley Arant Boult Cummings LLP

What COVID Home Equity Repayment Plan Means For Lenders | Insights & Events

The Federal Housing Administration recently issued Mortgagee Letter 2022-23, establishing a new COVID-19 Home Equity Conversion Mortgage Property Charge Repayment Plan. The COVID-19 HECM Property Charge Repayment Plan would...more

Bradley Arant Boult Cummings LLP

FHA Implements COVID-19 Property Charge Repayment Plan for HECM Borrowers

On December 15, 2022, the Federal Housing Administration (FHA) issued Mortgagee Letter 2022-23, establishing the COVID-19 Home Equity Conversion Mortgage (HECM) Property Charge Repayment Plan. The COVID-19 HECM Property...more

Lowenstein Sandler LLP

Residential Evictions: What Homeowners Need To Know - UPDATED March 2021

Lowenstein Sandler LLP on

REMOVALS- Can I be removed from my home as a result of a foreclosure proceeding during the COVID-19 emergency? No. On March 19, 2020, New Jersey Governor Philip Murphy issued Executive Order 106, which suspended...more

Hinshaw & Culbertson LLP

HECMs in the Regulatory and Congressional Spotlight

Home Equity Conversion Mortgage (HECM) loans have attracted significant scrutiny from federal agencies and Congress in recent weeks. The Department of Treasury (the "Treasury") and Department of Housing and Urban Development...more

Bradley Arant Boult Cummings LLP

House Financial Services Committee Meets to Discuss Improvements to FHA HECM Program

The U.S. House of Representatives Financial Services Subcommittee on Housing, Community Development, and Insurance convened a hearing on September 25, 2019, to discuss the federal Home Equity Conversion Mortgage (HECM)...more

Orrick - Finance 20/20

FHA Announces Streamlined Claim Payment Requirements in Home Equity Conversion Mortgage Program

Orrick - Finance 20/20 on

On October 22, the Federal Housing Administration (“FHA“) issued “revised requirements for Home Equity Conversion Mortgage (“HECM“) servicers when they assign FHA-insured reverse mortgages to the agency for claim payment.” ...more

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