HECM professionals to gather in Texas for Reverse Mortgage Day

 · For starters, a reverse mortgage is a loan that converts some of your home equity into cash flow. A home equity conversion mortgage (HECM) is a reverse mortgage insured by the Federal Housing Administration and is the most common reverse mortgage.

The reverse mortgage loan has continued to evolve since its introduction in 1961 and only grows stronger and safer with each year. This is primarily due to rules and regulations set by the Federal Housing Administration (FHA). The FHA continually updates and regulates reverse mortgages with new guidelines to protect you as a borrower.

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The state of Texas was decidedly late to the Home Equity Conversion Mortgage game, but at least by one metric, the patience and deliberation appears to have paid off. The Lone Star State’s Department of Savings & Mortgage Lending found no enforcement actions against reverse mortgage originators in the state over the last 10 years, [.]

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For so many homeowners age 62 and older, a Home Equity Conversion Mortgage (HECM) – also known as a reverse mortgage loan – could be a flexible and effective way to turn the equity you have in your home into funds you can use. My experience is broad and deep in financial services dedicated to senior households.

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Reverse mortgages are a unique type of loan that lets you convert the accrued equity of your home into usable funds. Home Equity Conversion Mortgages (or HECMs) are a reverse mortgage insured by the Federal Housing Administration (FHA) under the U.S. Department of Housing and Urban Development.

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Lender updates regarding Texas and Florida are quieting down slightly, so let’s play some catch up on government programs. Ginnie Mae will consider potentially. in the Home Equity Conversion.

Reverse mortgage funding llc (RMF), a wholly owned subsidiary of Reverse Mortgage Investment Trust Inc., is an independent HECM lender. HECMs-also known as reverse mortgages-are all we do. We don’t have to compete for corporate priorities or multiple lines of business.

On Oct. 28th, more than 400 HECM professionals from 155 companies will gather in San Diego at the National Reverse Mortgage Lenders Association’s annual conference to discuss issues affecting.

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