Continue reading "2019 HECM Reverse Mortgage Limits Announced"
For all HECM reverse mortgage loans origination on or after January, 2018, the reverse mortgage limit or maximum claim amount (MCA) for has increased from the prior limit of $636,150 to the new limit of $679,650, according to Mortgagee Letter 2017-17. The Mortgagee Letter was published December 7, 2017 by the Department of Housing and Urban Development. …
Continue reading “2018 Reverse Mortgage Limit Increased to $679,650”
2017 HECM Loan Limits For 2017, the reverse mortgage limit or maximum claim amount (MCA) for FHA-insured Home Equity Conversion Mortgages (Reverse Mortgage) has increased from the prior limit of $625,500 to the new limit of $636,150, according to Mortgagee Letter 2016-19. The Mortgagee Letter was published December 2, 2016 by the Department of Housing and …
Continue reading “2017 Reverse Mortgage Limit Increased to $636,150”
If you have been considering accessing the equity in your home with a Home Equity Conversion Mortgage (HECM) loan, now may be a great time to act. A recent policy change may mean that you can qualify for more loan proceeds. HUD recently released Mortgagee Letter 2014-12 which included new Principal Limits Factors (PLF) for non-borrowing spouses under …
We are pleased to announce that the draft of the economic recovery bill released by the House of Representatives late yesterday contains a provision, inserted in response to a request that came jointly from NRMLA and AARP, that would set the single national loan limit for HECM at a higher level than $417,000–for the balance …
Continue reading “HECM Loan Limit Increase Included in Stimulus Plan”