New Policies by the FHA

The Federal Housing Administration (FHA) is announcing new policies that will allow for faster payment of funds to mortgagees when they assign a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, to HUD. “The Home Equity Conversion Mortgage program is an important resource for the nation’s senior homeowners who wish to age in place,” said Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon.

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By Sarah Seavey
Sarah Seavey