HUD Approves LIBOR Index for HECMs
By admin on Jul 23, 2007 in Reverse Mortgage
Last Friday U.S. Department of Housing and Urban Development approved the use of LIBOR Indexes for all FHA Arms and HECM products. HUD felt the change was necessary because LIBOR is both an international index determined on the basis of the world economy and an index that has become very popular in the secondary market. It will be interesting to see if these changes will cause lenders to alter their programs and make the reverse mortgage market more competitive. To read a copy of the document issued by HUD click the link below.
Adjustable Rate and Home Equity Conversion Mortgages?Additional Index
Technorati tags: HECM, HUD, FHA, Reverse Mortgage, Reverse Mortgage Secondary Market
Related Posts
Post-Plugin Library missing
The Financial Adviser is reporting only 4 percent of over-50s would consider contacting a financial adviser for help on funding their ...
Last week’s $1 billion purchase of Odyssey Healthcare (ODSY) by Gentiva Health Services (GTIV) is going to shake up several ...
Marie Hulbert, now 78, made her first monthly payment of $98.62 on her long-term care policy in November 1989. The ...
How to Handle Differences of Opinion in Long Term Care