NRMLA Applauds FHA's New Rules Regarding HECMs

SOURCE: Mortgage News Feed

Having completed its review of feedback from industry stakeholders, the U.S. Department of Housing and Urban Development (HUD) has released its Home Equity Conversion Mortgage (HECM) Financial Assessment and Property Charge Guide. In addition, HUD has published a mortgagee letter that clarifies certain aspects of how the Federal Housing Administration's (FHA) HECM program will operate, moving forward.

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