In the second full week of Donald Trump’s presidency, the Commander-in-Chief signed an executive order in an effort to cut down on regulation leaving uncertainty for existing rules in the pipeline, including the long-awaited HECM rule. Also this week, lenders weighed in on their predictions for 2017, an audit revealed some issues with FHA program change making, and an industry veteran released the new edition of a book all about reverse mortgages.
In cased you missed them, here are the top reverse mortgage news stories grabbing the attention of RMD readers this past week:
How Trump’s New Executive Order Could Impact HUD Rule-Making This Year—In Washington, President Trump signed an executive order to cut down on new regulations. The order would require the proposed elimination of two existing regulations for every new regulation issued across all federal agencies—HUD included. A Department representative told RMD it is too soon to know the direct implications for the agency and for HECM rules in the pipeline.
What HECM Lenders Can Expect from HUD’s New Loan Review System—As the Department of Housing and Urban Development (HUD) readies the roll out of a new loan review system for certain Federal Housing Administration mortgages this year, agency specialists this week discussed what FHA mortgagees can expect under the new guidelines.
New Book is Guide to All Things Reverse Mortgages in 2017—Following a growing interest among financial planners and other professionals, a reverse mortgage industry veteran returns with the 2017 edition of his annual guidebook to all things reverse mortgages.
Reverse Mortgage Crystal Ball: Biggest Opportunities in 2017—Some of the industry’s leading participants weigh in on reverse mortgage expectations for the year ahead.
Audit Reveals HUD Violated Procedures When Making Changes to FHA Programs—The Department of Housing and Urban Development (HUD) failed to follow required clearance procedures when implementing changes to Federal Housing Administration programs, according to a recent audit from HUD’s Office of Inspector General (HUD-OIG).
Written by Elizabeth Ecker