Housing Wire
MAY 10, 2024
Ron DeSantis (R) signed a bill into law this week that changes certain requirements for the state’s reverse mortgage borrowers, a move that the National Reverse Mortgage Lenders Association (NRMLA) says could save money on closing costs. This will now be changed, according to provisions of the law as analyzed by the committee.
Housing Wire
MARCH 5, 2024
The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. Keep in mind that almost all HECMs are adjustable-rate mortgages (ARMs), and so each rate update will concentrate on ARMs. Why are there two HECM interest rates used with HECM loans?
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Housing Wire
MAY 10, 2024
In March , we explored the difference between Home Equity Conversion Mortgage (HECM) “expected rates” and “note rates” and why most reverse mortgages depend on these two interest rates. This is because the unused principal of a HECM adjustable-rate mortgage (ARM) will grow at the same rate that is applied to the loan balance.
Housing Wire
APRIL 4, 2024
In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “ expected rate ” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT).
Housing Wire
MAY 7, 2024
The official magazine for the National Association of Realtors (NAR) recently touched on the topic of reverse mortgages, mentioning products such as the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) and addressing topics like the desires of baby boomers to age in place in their homes.
Housing Wire
APRIL 26, 2024
In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 The data provider examined all stages of delinquencies to gain a complete view of the mortgage market and loan performance health. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5%
Housing Wire
MARCH 25, 2024
California-based multichannel mortgage lender HighTechLending appointed reverse mortgage industry veteran Brian Boccia to serve as a senior account executive in its third-party origination (TPO) channel. He joins the company after prior experience at companies like Mutual of Omaha Mortgage and Reverse Mortgage Funding (RMF).
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