Tag Archives: adjustable rate home equity conversion mortgage

RMG NEWS : Origination Volume Up 25% in FY 2009

Volume of the FHA’s Home Equity Conversion Mortgage (HECM) grew to $30.2 billion in Fiscal Year 2009 according to budget documents released earlier this week. Despite only a slight increase in endorsed units, max claim volume grew 25% compared to … Continue reading

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RMG NEWS : Legislation Update

Senator Chris Dodd (D-CT) and President Obama met face-to-face on Tuesday. Reports suggest that Dodd may drop the proposed Consumer Financial Protection Agency from the emerging Senate Financial Services Bill, in order to gain the support of some Republicans and … Continue reading

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RMG NEWS : Reverse Mortgages Face The Music

In the last fiscal year, mortgage lenders funded 114,692 reverse mortgages under the FHA’s HECM program. Five years ago just 43,000 of reverse mortgage loans were written. Until a year ago, the reverse mortgage niche looked like a safe bet … Continue reading

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Before Signing on the Dotted Line…

…There’s a lot you need to know about reverse mortgages. This Q&A will help clarify how this complex transaction works. What is a reverse mortgage? It’s a loan on your house that lets you tap your home’s equity.  Like a … Continue reading

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Adjustable rate home equity conversion mortgage

The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. You choose how you want to withdraw your funds, whether in a fixed monthly amount or a … Continue reading
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Posted in Questions About Reverse Mortgage, Reverse Mortgage Benefits, Senior Income | Tagged | 12 Comments