After the release of proposed new rules for the Home Equity Conversion Mortgage (HECM) for Purchase (H4P) program late last year, the reverse mortgage industry expressed a lot of excitement.

In the newly proposed rules handed down in October, the H4P program would, in certain circumstances, allow for inclusion of an interested party contribution of up to 6% of a home’s sale price. When the news was shared during a panel discussion at the National Reverse Mortgage Lenders Association (NRMLA) Annual Meeting and Expo in Nashville that week, attendees erupted in cheers. details ⇒

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