The Department of Housing and Urban Development announced a new webinar focused on the latest updates to the Federal Housing Administration’s reverse mortgage program.
The free training will provide an overview of HECM purchase transations, refinances, as well as the HECM Standard and new HECM Saver.
The two new products were announced in September and are different from the traditional HECM program. The HECM Saver was developed as a second reverse mortgage option to lower the upfront cost of reverse mortgages for homeowners who want to borrow a smaller amount compared to the traditional product.
According to the agency, new lenders, experienced reverse mortgage lenders and housing counselors will benefit from the training. The webinar is scheduled for October 13th, for more information or to sign up click here.
Note: The last HECM Saver webinar filled up quickly, so don’t wait.