Relevant:
- Reverse Mortgage Applications Rise to Highest Level Since September 2009
- HUD Lowers Principal Limit Factors for FHA Reverse Mortgage Program
- New Low Cost Reverse Mortgage Product Coming in October says HUD
- U.S. Mortgage Applications Fall for Fifth Week Led by Drop in Refinancing
- FHA Report: Value of HECM Program Hit Hard by Home Price Projections
2010-11-19 — reversemortgagedaily.com
"The number of reverse mortgage applications fell 38.8% in October, coming in at 8,249 units according to data released the the Department of Housing and Urban Development (HUD). The drop was expected after the number of applications spiked prior to HUD lowering the principal limits for the HECM program. While the drop is significant, it’s 40% better than the 5,892 applications from October 2009."
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