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Mortgage Servicers › Department of Housing and Urban Development › HECM

Hudson Cook, LLP

CFPB Imposes Bans from Reverse Mortgage Servicing, $11.5 Million Restitution, and $5 Million in Civil Money Penalties for...

Hudson Cook, LLP on

The CFPB entered into consent orders with a Home Equity Conversion Mortgage ("HECM," also known as a "reverse mortgage") servicing contractor, its subcontractor, and two of its subcontractor's subsidiaries. The U.S....more

Orrick, Herrington & Sutcliffe LLP

HUD seeks comments on update to HECM policy

Orrick, Herrington & Sutcliffe LLP on

On November 9, FHA posted a proposed update to its Home Equity Conversion Mortgage (HECM) policy. According to FHA, the proposal “enables certain categories of… HECMs that were previously ineligible for assignment to be...more

Bradley Arant Boult Cummings LLP

FHA Implements COVID-19 Property Charge Repayment Plan for HECM Borrowers

Bradley Arant Boult Cummings LLP on

On December 15, 2022, the Federal Housing Administration (FHA) issued Mortgagee Letter 2022-23, establishing the COVID-19 Home Equity Conversion Mortgage (HECM) Property Charge Repayment Plan. The COVID-19 HECM Property...more

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