The mortgage insurer’s annual actuarial report showed strength in the agency’s capital reserves even though losses in the “home equity conversion mortgage” program are still a problem.
As the Federal Housing Administration prepares to release its annual actuarial report sometime this month, the industry is questioning how the reverse mortgage program fits into the agency's future.
The Federal Housing Administration is making it easier for reverse mortgage servicers to submit insurance claims by expanding the types of supporting documentation it will accept on defaulted loans.
The Supreme Court upheld using “disparate impact” over three years ago. But with HUD weighing a policy change, banks and advocacy groups are still at odds over the court decision.
The new policy, meant to assist borrowers in Puerto Rico and the U.S. Virgin Islands, will let servicers evaluate borrowers using pre-disaster payment information.
The administration’s recent report on fintech innovation discussed ways to adopt electronic promissory notes — or eNotes — and automated appraisals in federal mortgage programs.
The banking industry lost a key battle in the Supreme Court over the use of “disparate impact,” but legal observers see potential for the tide to turn if Judge Brett Kavanaugh is confirmed.
Brian Montgomery is examining why the reverse mortgage program has suffered big losses, but he said he opposes any changes that could make it harder for the elderly to stay in their homes.
