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The article, "Reverse Mortgage Reform 2013 (Updated HECM Guidelines)" starts off by telling a bit about the home equity conversion mortgage : "For most people, the only way to make use of the equity you've built up in your home is by selling or refinancing and pulling equity out at closing.
They grew in popularity and spread throughout Europe during the 1970s, and Finally crossed the Atlantic in the 1980s, reaching national prominence in 1987 with the creation of the Home Equity Conversion Mortgage program.
Federally-Insured Reverse Mortgages -- These are often referred to as Home Equity Conversion Mortgages (HECM) and are backed by the U.
2338 would also prohibit seller-funded down-payment programs, lift the cap on Home Equity Conversion Mortgages (HECMs), institute a one-year moratorium on the implementation of risk-based premiums and prohibit for two years any increase of the multifamily mortgage insurance premium that would make it higher than the premium in place in October 2006.
A review by the Government Accountability Office (GAO) found that 26 marketers of Home Equity Conversion Mortgages (HECMs) engaged in questionable sales tactics and made potentially misleading claims that minimized the risk for borrowers.
1852), which would create 40-year FHA-insured mortgages, institute risk-based premiums, allow zero down payments for first-time borrowers and lift the cap on Home Equity Conversion Mortgages (HECMs).
an independent mortgage company and a leading originator of home equity conversion mortgages (HECM), or reverse mortgages, insured by the Federal Housing Administration.
Robbins, CMB, lauded the committee's passage of the bill to the House floor, he expressed reservations about two parts of the bill, one that would deregulate mortgage brokers by removing the audited financial statement requirement for mortgage brokers originating FHA loans, while also capping fees on FHA's Home Equity Conversion Mortgages (HECMs), or reverse mortgages.
9 /PRNewswire/ -- With overall wholesale reverse mortgage volumes down by six percent as recently reported by Reverse Market Insight, the Wholesale Division at Generation Mortgage Company(TM) experienced an increase as the company closed 182 percent more Home Equity Conversion Mortgages (HECM) in 2009 than in 2008, making the company the fifth largest reverse mortgage wholesale lender in the country.
30, 2006, was 76,351 Home Equity Conversion Mortgages, compared with 43,131 HECMs the prior year, according to the FHA, which insures the loans.
Nearly all reverse mortgages, also called Home Equity Conversion Mortgages (HECM's), are insured by FHA, a branch of HUD.

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