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Feature: A HECM Hearing

Jun 20, 2012By

Housing experts and reverse mortgage professionals testified before members of Congress last month in an oversight hearing established to examine the health and future of the FHA’s HECM program. Speaking before members of the Subcommittee on Insurance, Housing and Community Opportunity, eight strategically appointed panel members from various sectors of the industry presented their views on HECMs, as well as concerns about the state of the program and recommendations for its improvement. Specifically, panelists were asked to address the mechanics of the program; its administration; issues affecting stakeholders; benefits to borrowers; the program’s safety, soundness, and sustainability; and the risk

3d rendering of a row of luxury townhouses along a street

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