Comments on: HUD Permits Applications For New Reverse Mortgage Loan Limit http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/ Reverse Mortgage News and Information Thu, 24 May 2012 20:46:00 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: admin http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/comment-page-1/#comment-9717 admin Mon, 13 Oct 2008 13:29:49 +0000 http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/#comment-9717 Mark, I've yet to hear about any of the other provisions Mark, I’ve yet to hear about any of the other provisions

]]> By: Mark Draper http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/comment-page-1/#comment-9716 Mark Draper Mon, 13 Oct 2008 13:22:48 +0000 http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/#comment-9716 I know we are all waiting for the lending limts letter, what about the coop provision, will the come out Nov 1st? I know we are all waiting for the lending limts letter, what about the coop provision, will the come out Nov 1st?

]]> By: Bill Peters http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/comment-page-1/#comment-9573 Bill Peters Sat, 11 Oct 2008 13:20:15 +0000 http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/#comment-9573 Rick, MIP will continue to be 2% at closing and 1/2% annually. The discussions about reducing MIP evaporated quickly as FHA saw home values dropping. They feared that falling home values could increase the claims size and claims rate on the mortgage insurance fund. Until then, the program had seemed to be over-funded. I doubt they will entertain any reductions in MIP until we've worked our way through this mess several years down the road. Rick,

MIP will continue to be 2% at closing and 1/2% annually.

The discussions about reducing MIP evaporated quickly as FHA saw home values dropping. They feared that falling home values could increase the claims size and claims rate on the mortgage insurance fund. Until then, the program had seemed to be over-funded. I doubt they will entertain any reductions in MIP until we’ve worked our way through this mess several years down the road.

]]> By: stanley goldwasser http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/comment-page-1/#comment-9571 stanley goldwasser Sat, 11 Oct 2008 12:30:29 +0000 http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/#comment-9571 Can you ask Meg when she thinks we will hear about the purchase with the HECM? Can you ask Meg when she thinks we will hear about the purchase with the HECM?

]]> By: Rick May http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/comment-page-1/#comment-9554 Rick May Sat, 11 Oct 2008 03:17:08 +0000 http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/#comment-9554 what will MIP be?? will it be 2% of the new claim amount? what will MIP be?? will it be 2% of the new claim amount?

]]> By: Robert Fierro http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/comment-page-1/#comment-9541 Robert Fierro Fri, 10 Oct 2008 22:27:51 +0000 http://reversemortgagedaily.com/2008/10/10/hud-permits-applications-for-new-reverse-mortgage-loan-limit/#comment-9541 Does this mean we can take apps now for purchases for targeted November/December closings ? Does this mean we can take apps now for purchases for targeted November/December closings ?

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