Listed below is a table showing every HECM reverse mortgage transaction in the United States in February of 2016. In total, there were 9,154 reverse mortgages.
Listed below is a table showing every HECM reverse mortgage transaction in the United States in January of 2016. In total, there were 3,889 reverse mortgages. HECM Traditional led the way with 82.7% of all reverse mortgages closed. California nearly tripled the amount of the next highest state, Florida. Types of Reverse Mortgages Adjustable vs Fixed […]
The Federal Housing Administration’s (FHA) Home Equity Conversion Mortgage (HECM) loan limits for Traditional HECM, HECM for Purchase, and HECM-to-HECM refinances are governed by the maximum claim amount limitation in sections 255(g) and 255(m) of the National Housing Act, which contains cross-references to section 305(a)(2) of the Federal Home Loan Mortgage Corporation Act (12 U.S.C. […]