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Proposed HECM Rules Raise Questions of Industry Collaboration
It’s no secret. For the last three years our industry has born the brunt of numerous changes to the Home Equity Conversion Mortgage program. Not only us, but senior homeowners applying for the loan. In the light of recent proposed rule changes one may be left with several lingering questions.
The latest round of proposed rule changes raises the question of consultation. In other words, were industry lenders and secondary market investors invited to the table before publishing proposed rule changes? The proposed adjustable rate caps warrant just such a question as secondary market players point out…
Download a transcript of this episode here.
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