Items Tagged with 'MUTUTAL MORTGAGE INSURANCE FUND'

ARTICLES

  • HUD: Reverse mortgage volume tanked in Q1

    Latest report paints troubling picture for HECMs
    Reverse mortgage volume has been on a rapid descent since program changes took hold in early 2018, and the trend doesn't appear to be slowing. The Department of Housing and Urban Development released its quarterly report to Congress on Monday on the state of the Federal Housing Administration's flagship Mutual Mortgage Insurance Fund, and its details on the flailing state of the reverse mortgage program are eye catching.
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  • Q&A: Celink's Jason McNamara on the challenges facing reverse mortgage servicers

    Why HECM servicing has grown difficult, and what needs to be done about it
    Reverse mortgage servicing differs vastly from traditional mortgage servicing, and thanks to program changes issued over the last two years, it's gotten even more challenging. We spoke with Celink's Jason McNamara, CEO of the nation's largest reverse mortgage subservicer, about the shifting landscape of HECM servicing and the changes he says are necessary to curb losses to the MMI Fund.
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  • Urban Institute urges FHA to release more HECM data

    Says researchers need to assess why reverse program is "hemorrhaging"
    A recent report by the Urban Institute highlighted trends affecting FHA's reverse mortgage program, noting that while past changes are starting to have a positive impact, the HECM program is still a drain. It urged the FHA to release more loan-level data so that researchers can better analyze risk factors driving this trend.
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  • HUD Inspector General: Department has serious management challenges

    Report says problems plaguing the agency are costing taxpayers millions
    The Department of Housing and Urban Development is facing serious management challenges that are causing longstanding performance and accountability issues. An annual report released by HUD's Office of Inspector General outlines the top six management challenges facing the agency in 2019, and the details aren’t pretty.
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