Real estate
fromwww.housingwire.com
1 day agoNew View Advisors pushes for reverse mortgage reforms
Reduce HECM upfront MIP to 1% and enact HUD reforms to make federally guaranteed reverse mortgages more affordable and relevant.
The steps taken by FHA today to increase HECM loan limits provide greater flexibility for America's older homeowners to monetize their home equity as part of a comprehensive retirement plan to meet everyday retirement needs, Steve Irwin, president of the National Reverse Mortgage Lenders Association (NRMLA), said in a statement. We appreciate the leadership at FHA for recognizing this critical need.