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30-day Rescission Period Dropped from California Bill
A California Assembly committee struck the controversial 30-day rescission period as one of several amendments to a reverse mortgage bill Monday, a spokeswoman for Assemblyman Mike Feuer, the bill’s author, said today. The Assembly
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Sen. McCaskill To Keep Pushing for Reverse Mortgage Reform
Missouri Sen. Claire McCaskill, who has described reverse mortgages as “very dangerous,” will continue to push for further reforms of the reverse mortgage market, her spokeswoman said, after the Senate did not consider her
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New Loan Limit… It’s here!
Under ARRA, the national FHA loan limit for HECM will increase from $417,000 to $625,500 (from 100 percent to 150 percent of the conforming limit). HECM loan mortgagors do not undergo the same procedures
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Minnesota Attorney General Pushes Reverse Mortgage Legislation
Minnesota’s legislators and attorney general, concerned about disreputable mortgage brokers and lenders taking advantage of seniors, have introduced a bill that would allow borrowers to rescind a reverse mortgage for up to 30 days.
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The HVCC Changes YOUR business…
Washington, DC – Federal Housing Finance Agency (FHFA) Director James B. Lockhart announced that Fannie Mae and Freddie Mac will implement a revised Home Valuation Code of Conduct (Code) effective May 1, 2009. The
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