The Department of Housing and Urban Development reminded lenders that there can be no subordinate liens outstanding at the time of a Home Equity Conversion Mortgage origination, unless the liens are court-issued judgments or debts. For example, a homeowner with an existing forward mortgage can use HECM financing to pay off that mortgage and some other debts. But if the HECM proceeds aren’t enough to a pay off...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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