Friday Round-Up: New Tax Law and Reverse Mortgages

In case you missed it… here’s what happened in the reverse mortgage world in the first week of 2018.

What the New Tax Law Means for Reverse Mortgage Borrowers — A new tax law was passed by Congress in the late days of 2017. As consumers scrambled to determine what tax reform means for American households, RMD delves into some of the implications for reverse mortgage borrowers.

FHA Updates Initial MIP Formula for Reverse Mortgage Refinances — Just prior to the new year, the Federal Housing Administration updated its calculation for initial mortgage insurance premiums for refinance reverse mortgage transactions. We cover the changes.

Some Progress, More Frustration with HECM Roadblocks in Some Towns — As a follow-up to our coverage of  “free assumability” restrictions in some communities including Sun City, Arizona that restricted the use of reverse mortgages, we look into the progress being made on the issue, as well as the hurdles that remain.

Reverse Mortgage Endorsements Up in 2017, Fallout Likely Coming — The final count is in, and 2017 saw an uptick in reverse mortgage loan volume overall, due in large part to a surge in lending activity prior to major program changes implemented in October, 2017. But the industry could be in for a contraction in volume in the year ahead, one analyst predicts.

AAG, RMF, FAR Top List of Reverse Mortgage Securities Issuers — In an annual tally 0f reverse mortgage securities issuance, New View Advisors details the top issuers and their volume over the last year.

Written by Elizabeth Ecker

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