FHA Modernization Act of 2007


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United States Statutes at Large


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Volumes for 1950-19 contained treaties and international agreements issued by the Secretary of State as United States treaties and other international agreements.




Public Statutes at Large of the United States of America


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Vols. for 1950-19 contained treaties and international agreements issued by the Secretary of State as United States treaties and other international agreements.







Revere Mortgages


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Reverse mortgages -- a type of loan against home equity available to seniors ¿ are growing in popularity. A large majority of reverse mortgages are insured by HUD under its Home Equity Conversion Mortgage (HECM) program. The Housing and Economic Recovery Act of 2008 made several modifications to the HECM program, including changes in how origination fees are calculated and an increase in the loan limit. This report examines: (1) how these changes have affected lenders¿ plans to offer reverse mortgages; (2) how the changes will affect borrowers; and (3) actions HUD has taken to evaluate the financial performance of the HECM program. Includes recommendations. Charts and tables.




Legislative Calendar


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