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Reverse Mortgages

HUD Seeks Comment on Proposed Notice to Change HECM for Purchase Program to Expand Funding Sources and Interested Party Contributions

November 3, 2023 By Anoush Garakani and Gloria Han

A&B Abstract: On October 24, 2023, the U.S. Department of Housing and Urban Development (“HUD”) published, for public comment, a Federal Register Notice (“Proposed Notice”) to implement changes to the Federal housing Administration’s (“FHA”) Home Equity Conversion Mortgage (“HECM”) for Purchase program. The Proposed Notice expands the list of acceptable funding sources and permits additional […]

Filed Under: Department of Housing and Urban Development (HUD), HUD, Mortgage Loans, Reverse Mortgages Tagged With: #HECM, FHA, HECM for Purchase, Home Equity Conversion Mortgage, HUD, Reverse Mortgages

Massachusetts Enacts Emergency COVID-19 Measure Addressing Residential Mortgage Foreclosure Moratoria, Forbearance, Evictions, Reverse Mortgage Counseling

April 24, 2020 By Nanci Weissgold

A&B Abstract: On April 20, 2020, Massachusetts Governor, Charlie Baker, signed into law HB 4647 (2020 Mass. Acts 65), an emergency measure, effective immediately, providing for mortgage forbearances and a moratorium on evictions and foreclosures during the COVID-19 emergency. This measure also waives the in-person counseling requirement for reverse mortgage loans.  This law follows guidance […]

Filed Under: Mortgage Loans, Mortgage Servicing, Real Estate Settlement Procedures Act (RESPA), Reverse Mortgages, Servicemembers Civil Relief Act (SCRA), State Law Tagged With: #Massachusetts, CARES Act, Evictions, Forbearance, Mortgage Loans, Mortgage Servicing, Reverse Mortgages

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Recent Posts

  • FSOC Approves Analytic Framework for Financial Stability Risks and Guidance on Nonbank Financial Company Designations
  • NYDFS Finalizes Second Amendment to Its Cybersecurity Regulation
  • HUD Seeks Comment on Proposed Notice to Change HECM for Purchase Program to Expand Funding Sources and Interested Party Contributions
  • Majority of States Now Permit Remote Work for MLOs and Mortgage Company Employees
  • FTC Approves New Data Breach Notification Requirement for Non-Banking Financial Institutions
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