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BREAKING: HUD Cuts PLF Factors, % Rate Floor & Increases Upfront FHA Insurance Premiums

BREAKING: HUD Cuts PLF Factors, % Rate Floor & Increases Upfront FHA Insurance Premiums

Shannon Hicks August 30, 2017 12

Without any prior warning or industry comment, HUD formally announced an increase of upfront insurance premiums for all borrowers, regardless of initial distributions, to 2% upfront, and .5% for ongoing mortgage insurance premiums. The

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The Trump Era & The HECM

The Trump Era & The HECM

Shannon Hicks May 30, 2017 1

Good News for HECM, Not So Much for Housing Programs President Donald trump embodies the essence of a political wrecking ball in Washington D.C.- a city known to cling tightly to political traditions of

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Where Do We Go from Here?

Where Do We Go from Here?

Shannon Hicks July 20, 2015 4

RMD Interviews NRMLA president Peter Bell on Industry Outlook and change  If you want an example of rapid industry change look no further than the Home Equity Conversion Mortgage program. Recently Reverse Mortgage Daily

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Hassle Free Loan?

Hassle Free Loan?

Shannon Hicks April 20, 2015 1

A Hassle-Free HECM or Long Term Success? Last week the Washington Post published an article entitled “Window is rapidly closing to get hassle-free reverse mortgage”. It is a well-written article outlining the change the

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M.O.E. An Alternative to HECM Foreclosures

M.O.E. An Alternative to HECM Foreclosures

Shannon Hicks February 2, 2015 11

This monumental policy change comes in the wake of several notable lawsuits brought against the Federal Housing Administration (FHA) and reflects the agency’s desire to close the door on further displacement of younger non-borrowing

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5 Things You May Not Know about the Financial Assessment

5 Things You May Not Know about the Financial Assessment

Shannon Hicks December 1, 2014 0

Five Take-Aways from the Financial Assessment Two weeks ago today we hosted a national webinar on the Financial Assessment with over 800 participants. Since that time the proverbial dust has begun to settle allowing

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A Plan for Change

A Plan for Change

Shannon Hicks November 28, 2014 4

Preparing Yourself for the Financial Assessment “The reed which bends in the wind is stronger than the mighty oak which breaks in a storm”. Though centuries old this familiar quote could have been written

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The Financial Assessment Released

The Financial Assessment Released

Shannon Hicks November 17, 2014 17

The long anticipated, or dreaded depending on your viewpoint, Financial Assessment was announced last week by HUD at the annual National Reverse Mortgage Lenders Association conference in Florida. The new guidelines will go into

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