MortgageReverse

No Word From HUD Regarding New Reverse Mortgage Loan Limits

Today was the day that many hoped HUD would announce the new HECM loan limits but unfortunately it doesn’t look it’s happening.  While I’m not trying to be overly optimistic about when it will happen, I’m thinking we could hear something by the end of the week…why? 

The Mortgage Bankers Association is hosting their Fall Reverse Mortgage Lending Conference in Miami and guess who will be partying it up in South Beach the next two days? 

The Honorable Brian D. Montgomery – Honorable is the MBA’s words… not mine.
Assistant Secretary for Housing / Federal Housing Commissioner (FHA)
U.S. Department of Housing and Urban Development (HUD)

&

Meg Burns
Director of the Office of Single Family Program Development
Federal Housing Administration

Both are scheduled to speak tomorrow, so why not announce the new loan limits at the conference? If I was Meg Burns, there is no way I would attend a reverse mortgage conference right now and not have any updates on the housing Bill.  I’ve gotten at least 30 emails today from RMD readers asking about it so I can only imagine the amount of emails and phone calls she has gotten.

This is total speculation on my part but you never know right?

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