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Home›Real Estate›Mortgages›Reverse mortgage executive urges HUD to revisit HECM r…

Reverse mortgage executive urges HUD to revisit HECM rules

She points to the 2% upfront mortgage insurance premium and says second appraisals and purchase flexibility are commonly misunderstood.

Reported · Written up by our desk · Mortgages

HousingWire reports that Fairway senior vice president Christine Jensen discussed ongoing borrower misconceptions about reverse mortgages and said the U.S. Department of Housing and Urban Development should revisit HECM pricing and related rules.

Jensen highlighted issues she sees in borrower understanding, including the 2% upfront mortgage insurance premium and the role of second appraisals, and she also referenced flexibility around purchase use cases.

In the HousingWire interview, she also connected perceptions of reverse mortgages to broader borrower attitudes toward debt and said changes to HECM mortgage insurance premiums could affect the program’s adoption.

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Sources

HousingWireFairway’s Christine Jensen on HECM reform and borrower misconceptions

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