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Reverse Mortgage

Reverse / HECM Financial Assessment

Reverse / HECM Financial Assessment

Written By: Carlotta Emperator, Op-Ed Writer

In recent year, FHA has published updates to the rules that affect how to process a FHA Reverse Mortgage or Home Equity Conversation Mortgage.  This process is completed through what is a “Financial Assessment” that was added to the Reverse Mortgage effective date April 27, 2015.   FHA required each lender to process a prospective mortgagor on all HECM transaction type.

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Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.


Reverse Mortgage Misconceptions

Written By: Glenn Michaels

As a mortgage underwriter, licensed mortgage loan originator and as a housing counselor it is amazing how many people do not understand the reverse mortgage program, HUD calls it the Home Equity Conversion Mortgage (HECM).

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Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.


My Home Gets Me a Bundle back from the IRS and State

Written By: Glenn Michaels

Every year millions of American tax payers must file their federal and state tax return forms by April 15. As I look at my calendar tax filers have two more weeks to file unless they go on extension. Over the years my home has been my cash cow to enable my wife and I to get back a bundle of dollars from both the Internal Revenue Service and from the state (New York) where I reside. In fact my employer(s) often have trouble with the way I file the W – 4 form.

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Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.


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FHA Training : FHA’S Reverse Mortgages for Seniors – Part 1 of 2

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Written By: Joan Ewing

Hello All – I am sure that once President Obama has had time to digest all his duties, there will be changes in the mortgage industry; however, until then everything is pretty much status quo.

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Opinion-Editorial (Op-Ed) Disclaimer For NAMP® Library Articles: The views and opinions expressed in the NAMP® Library articles are those of the authors and do not necessarily reflect any official NAMP® policy or position. Examples of analysis performed within this article are only examples. They should not be utilized in real-world application as they are based only on very limited and dated open source information. Assumptions made within the analysis are not reflective of the position of NAMP®. Nothing contained in this article should be considered legal advice.