General World News

Residency requirements top HUD OIG’s list of open reverse mortgage issues

On an online database tracking a series of issues the U.S. Department of Housing and Urban Development (HUD) Office of the Inspector General (OIG) is tracking related to the Home Equity Conversion Mortgage (HECM) program, there are four open recommendations the office is currently tracking. Three of them, however, are largely centered on the same issue.

The sole outlier, according to the online database, is related to a settlement between HUD and MetLife Home Loans reached in 2018, stemming from allegations that the lender and a reverse mortgage borrower’s details ⇒

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