Relevant:
- Appropriation for reverse mortgage program unlikely says HUD official
- New Low Cost Reverse Mortgage Product Coming in October says HUD
- HUD Revises the Rules Related to Reverse Mortgages
- The FHA Non-Approved Broker Debate Part II: End of the HECM Advisor Program
- Reverse Mortgage Program Needed Now More Than Ever Says FHA Commissioner
2010-05-04 — reversemortgagedaily.com
"The Federal Housing Administration (FHA) is planning to require financial assessments of all HECM borrowers to ensure that they have sufficient capital to pay taxes and insurance on their homes, according to Vicky Bott, deputy assistant secretary for single family housing at the housing agency. She spoke to RMD briefly after completing remarks last week at a Midwest conference on fraud issues, where industry professionals examined a wide-range of scams rippling through the troubled housing market today."
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