All posts by Shannon Hicks »

Mortgage brokers no longer allowed to order FHA appraisals…

Mortgage brokers no longer allowed to order FHA appraisals…

Shannon Hicks September 21, 2009 0

Federal Housing Administration Policy Changes The Federal Housing Administration (FHA) today announced several significant policy changes that are intended to improve their exposure to risk.  The changes, effective January 1, include: Modification of Procedures for

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Studies Detail HUD’s Risk for HECM Loans

Studies Detail HUD’s Risk for HECM Loans

Shannon Hicks August 20, 2009 2

Home Values, Loan Amounts, and Seniors Home values, loan amounts, and the way seniors use home equity conversion mortgages impact the Federal Housing Administration’s potential liability for its reverse mortgage program, recent studies show.

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MetLife Releases Study on Reverse Mortgages

MetLife Releases Study on Reverse Mortgages

Shannon Hicks June 24, 2009 0

As more seniors tap into their home equity to deal with the growing uncertainties of retirement, a report released by the MetLife Mature Market Institute calls for a comprehensive approach to educate and protect

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Is Your Reverse Mortgage Marketing “Insane”?

Is Your Reverse Mortgage Marketing “Insane”?

Shannon Hicks June 5, 2009 0

The old saying goes something like this.... "insanity is doing the same thing over and over again

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30-day Rescission Period Dropped from California Bill

30-day Rescission Period Dropped from California Bill

Shannon Hicks May 7, 2009 0

A California Assembly committee struck the controversial 30-day rescission period as one of several amendments to a reverse mortgage bill Monday, a spokeswoman for Assemblyman Mike Feuer, the bill’s author, said today. The Assembly

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Sen. McCaskill To Keep Pushing for Reverse Mortgage Reform

Sen. McCaskill To Keep Pushing for Reverse Mortgage Reform

Shannon Hicks May 1, 2009 0

Missouri Sen. Claire McCaskill, who has described reverse mortgages as “very dangerous,” will continue to push for further reforms of the reverse mortgage market, her spokeswoman said, after the Senate did not consider her

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New Loan Limit… It’s here!

Shannon Hicks February 25, 2009 0

Under ARRA, the national FHA loan limit for HECM will increase from $417,000 to $625,500 (from 100 percent to 150 percent of the conforming limit).  HECM loan mortgagors do not undergo the same procedures

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