FHA Reminds Lenders on Financial Assessment and Case Number Impact

SOURCE: Mortgage News Feed

Reverse mortgage lenders should review their pending case cancellation report to identify loans that are marked for automatic cancellation, the Federal Housing Administration (FHA) is advising mortgagees. The home equity conversion mortgage (HECM) financial assessment and property charge policies become effective for case numbers assigned on or after April 27, 2015.

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