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December 8th, 2009

RMG NEWS : FHA Developing Mathematical Method to Determine Reverse Mortgage Eligibility

by Reverse Mortgage Group

In the coming months the Federal Housing Administration will issue preliminary regulations that will be the first step in developing a method to mathematically determine a borrower’s eligibility for a reverse mortgage, according to Meg Burns, director of Single Family Program Development for the FHA.
The administration recently implemented a new set of standards for Home [...]


September 24th, 2009

FHA Implements New HECM Counseling Standards and Protocol

by Reverse Mortgage Group

The FHA released a final rule today making the new HECM counseling standards official. The rule goes into effect on October 2, 2009.