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Inside FHA/VA Lending

December 20, 2019

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HECM 3Q Production Down, California Still Top State

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.) Read More

Finance of America Announces Active-HECM Securitization

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. Read More

Montgomery’s HUD Nomination Sent to the Senate

The Senate Banking Committee has advanced Brian Montgomery’s nomination for HUD deputy secretary. Five Democrats opposed the nomination. Read More

New York Enacts Stricter Legislation for HECMs

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. Read More

Bipartisan Lawmakers Against Using VA Fees for Other Programs

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. Read More

Homeownership Racial Gap Narrower for Veterans, Study Finds

The racial disparities in the homeownership rate are smaller for veterans than the total U.S. population, according to a new Urban Institute study. Read More

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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