Relevant:
- The FHA Non-Approved Broker Debate Part II: End of the HECM Advisor Program
- HUD Takes the Axe to FHA Direct Endorsements
- FHA Report: Value of HECM Program Hit Hard by Home Price Projections
- HUD Lowers Principal Limit Factors for FHA Reverse Mortgage Program
- Appropriation for reverse mortgage program unlikely says HUD official
2008-09-19 — ml-implode.com
The termination of the FHA Advisor program was a direct result of Section 2122 of the Housing and Economic Recovery Act of 2008 (HERA). Section 2122 of HERA requires that all parties involved in the origination of reverse mortgages (also known as HECMs) must be approved by the Secretary of the Department of Housing and Urban Development.
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