Items Tagged with 'US Department of Housing and Urban Development'

ARTICLES

  • Insiders reveal latest HECM counseling trends

    Speakers at NRMLA conference shed light on what’s in the pipeline for HECM lenders
    In two separate sessions that discussed reverse mortgage counseling, insiders revealed emerging trends that shed light on what’s coming down the pipeline for HECM lenders. At NRMLA’s annual meeting Monday, panelists from three different counseling agencies reported on the trends they’re witnessing, while HUD’s John Olmstead revealed HECM counseling stats.
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  • FHA takes steps to relieve balance sheet stress for reverse mortgage issuers

    Relaxes documentation guidelines to streamline assignments to HUD
    The Federal Housing Administration issued new guidelines Monday to ease documentation requirements for reverse mortgage issuers. With revised rules in place, the FHA aims to address the rigorous reporting requirements that were gumming up the works, adding serious stress to the balance sheets for reverse mortgage issuers.
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  • 6 Questions with 6 HUD Executives, Ep. 4: HUD CFO Irving Dennis

    Why he's pushing for rigorous financial oversight at the agency
    HUD CFO Irving Dennis joined the agency earlier this year after nearly four decades at Ernst & Young, where he was a partner overseeing the audits of major S&P 500 companies. In episode 4 of HousingWire's exclusive podcast series with HUD execs, Dennis talks about his move to the public sector and the passion that drives him.  
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  • Here are the top 10 reverse mortgage lenders

    And these are the different approaches they’re taking to survive the down market
    The reverse mortgage industry has taken a bit of a beating in the past year following significant program changes from HUD, but HECM lenders are nothing if not resilient. We’ve compiled a list of the top 10 players in the space and a summary of the approach each has taken to stay afloat in the current climate.
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  • HUD awards $47 million grant to housing counseling agencies

    Funding is crucial to success of reverse mortgage program
    The U.S. Department of Housing and Urban Development announced Wednesday that it has awarded $47 million in housing counseling grants. Some of the grant money went to agencies that offer reverse mortgage counseling, and the influx of cash will be crucial to keeping them in business and keeping the HECM program alive.
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  • How will FHA’s new HECM appraisal rules affect reverse mortgage lending?

    AMCs weigh in on the mandate requiring second appraisals on select loans
    The latest change to the reverse mortgage program was just announced, and it requires a second appraisal on select HECM loans. Now, the industry is abuzz with speculation as to just how impactful the new requirement will be. Will turn-times slow down? Will the loan be more expensive for most borrowers? We talked to appraisal management companies to find out.
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  • It’s been one year since HUD shook up the reverse mortgage industry

    With 10/2 program changes firmly in the rearview, how did the industry fare, and what’s ahead for players in the space?
    Tuesday marked exactly one year since HUD implemented HECM program changes in a move that took lenders by surprise and drastically impacted the reverse mortgage business. It’s been a rocky year as originators attempted to adjust to the new normal, and it seems no one got out unscathed. Will product innovation help the industry find its footing, or will another round of program changes knock it off its feet?
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  • Jimmy Carter: Trump administration ignoring affordable housing crisis

    Blasts HUD policies on low-income housing
    Former President Jimmy Carter says this country is in the midst of an affordable housing crisis, and something needs to be done about it. In an interview with CNBC this week, Carter said the Trump administration is ignoring the situation and urged voters to take a stand. "Low-income housing needs to be raised much higher as a priority for our country," Carter said.
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