The Mortgage Bankers Association (MBA)’s proposals to reform federal reverse mortgage programs include seven key recommendations — ranging from the creation of a new securitization option to charging insurance premiums based on the actual amount drawn. 

In October, the U.S. Department of Housing and Urban Development (HUD), the Federal Housing Administration (FHA) and Ginnie Mae issued a request for information (RFI) that seeks public feedback on potential changes to the Home Equity Conversion Mortgage (HECM) and HECM Mortgage-Backed Securities (HMBS) programs.

Industry experts have zeroed in on two details ⇒

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