Archive for April, 2008
Monthly HECM Activity Nears 11,000 Mark
Monthly HECM Activity Nears 11,000 Mark, Home Equity Conversion Mortgage (HECM) figures released by HUD show that 10,913 HECMs originated during February 2008 – making this the highest monthly production on record. The previous record month was March 2007 when 10,888 HECMs were recorded. More important than the record, however, is the fact that February [...]
January HECM Activity Rebounds
January HECM Activity Rebounds, Rebounding from four consecutive months of below average performance, the number of HECM reverse mortgages originated rebounded in January posting the fourth best monthly performance on record. The 9,957 HECM’s approved in January represented a 24% increase over the 8,007 HECMs endorsed in the prior month (December 2007) and a 13% [...]
203b Loan Limits Remain Largely Unchanged
203b Loan Limits Remain Largely Unchanged, At the start of each year, HUD/FHA does a comprehensive update to the single-family mortgage limits that set the maximum amounts that can be loaned under the HECM reverse mortgage program. In 2007, 203b limits were,for the most part, left unchanged and this is again the case for 2008. [...]