The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)
Under the new policy, borrowers must have made at least three consecutive monthly payments post forbearance in order to refinance, down from the standard six-month requirement.
ClearPath Lending has been slapped with a $625,000 fine for deceptive advertising to veterans, bringing the total amount of fines issued by the CFPB to more than $3 million since July.
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