The financial landscape for Social Security and Medicare federal entitlement programs, two of the most important programs in the social safety net for American seniors, has been given a bleak forecast concerning the financial solvency of the programs according to a government report issued earlier this week by the Social Security Administration (SSA) and Cabinet […]
President Donald J. Trump signed an executive memorandum Wednesday initiating the process of reforming the United States housing system, which includes an objective to examine the “financial viability” of the Home Equity Conversion Mortgage (HECM) program. The president has expressed his intent to end the conservatorship of Freddie Mac and Fannie Mae that has been […]
The Trump Administration plans for its Office of Inspector General to increase oversight of the Home Equity Conversion Mortgage program in 2020, according to a proposed budget released Monday. The Administration’s HUD budget proposal for the 2020 fiscal year includes a statement on this expanded oversight that the OIG will have, in addition to addressing […]
Department of Housing and Urban Development Secretary Dr. Ben Carson has stated his intention to exit his post at the conclusion of President Donald J. Trump’s current presidential term. Carson made the announcement Monday night during an appearance on Newsmax TV, a conservative media outlet, according to the Washington Post. In the interview, Carson talked […]
Department of Housing and Urban Development (HUD) Secretary Ben Carson is not often one to get worked up, but he did flash a degree of tempered frustration at political leaders in Washington, D.C. over the longest government shutdown in American history in a recent interview, right before the White House and congressional leaders agreed to […]
The partial shutdown of the United States federal government that is currently in effect has become the longest one in history, ending its 31st consecutive day on Monday and having widespread ramifications for over 800,000 federal workers and dozens of federal agencies. While direct ramifications to the production of reverse mortgage business have been minimal […]
At the end of the 20th day of the partial United States government shutdown, the Democratically-controlled House of Representatives passed a standalone spending bill to fund and reopen both the Department of Housing and Urban Development (HUD) and the Department of Transportation, along with a handful of other agencies. According to The Hill, the House […]
Although new endorsements of Home Equity Conversion Mortgages (HECMs) have been halted due to the partial government shutdown that began on December 22, reverse mortgage originators are largely conducting business as usual in spite of the gridlock plaguing Washington, D.C. Certain FHA services related to pre-existing HECM loans will still be available during the shutdown, […]
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