The OIG recommended that HUD “implement controls to prevent or mitigate instances of borrowers violating HECM program residency requirements by concurrently participating in the Voucher program,” ...

Steve Irwin, the president of the National Reverse Mortgage Lenders ... a full review of the new requirements. “As with any new policy guidance issued by HUD, NRMLA’s HUD Issues Committee ...

They may have different loan amounts, terms, and eligibility requirements, and many allow for borrowers as young as 55 in some cases. Proprietary reverse mortgages can exceed the HUD limits ...

In January 2025 the U.S. Department of Housing and Urban Development (HUD) issued Mortgagee Letter 2025-06 revising servicing and claims ...

HUD and FHA provide strict guidelines on borrower qualifications, as well as how payments can be taken out. A reverse mortgage uses the home as security for the loan, but borrowers don’t make ...

If you meet certain requirements, you can get some of your home equity in the form of a lump sum, monthly payments, or a line of credit. Here is how FHA reverse mortgage loans work. The Federal ...

among other requirements that depend on the lender and loan type. Attend a mandatory counseling session. Before you can apply, you’re required to meet with a HUD-approved reverse mortgage ...