Home Equity Conversion Mortgage originations fell in the third quarter de-spite a buoyant housing market. FHA policy changes continue to dampen buyer enthusiasm for the product. (Includes two data charts.)
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Finance of America Reverse has announced a new offering backed by active, first-lien Home Equity Conversion Mortgage loans purchased from Ginnie Mae pools and other third parties.
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New York Governor Andrew Cuomo signed into law a bill prohibiting deceptive advertising and marketing of Home Equity Conversion Mortgage loans. The law takes effect March 5, 2020.
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A bipartisan group of lawmakers has urged House leadership to stop further hikes in VA home-loan funding fees to pay for non-housing veteran benefits. The spending on future veterans’ benefits should be shared by all Americans or paid through direct appropriation of funds, they say.
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The racial disparities in the homeownership rate are smaller for veterans than the total U.S. population, according to a new Urban Institute study.
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