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Compliance Articles from Q & A Issues:

Reverse Mortgage Irrevocable Trust: A clients has a reverse mortgage and wants to move their property into an irrevocable trust. Will this trigger the payoff clause of the reverse mortgage? - January 25, 2012
HECM Home Not Sold: A woman owns a condo that she has not sold yet, but she wants to move in with a boyfriend. They want to do a reverse mortgage together on another property that he owns and lives in. What is the guideline for residence since this has not been her primary until just recently? - December 25, 2011
Reverse Mortgage DE Test Cases: As a DE, FHA Lender, we want to enter into test cases for HECM loans. Do we need separate approval? How do we submit test cases? - September 25, 2011
FHA Reverse Mortgage: I have a mother/daughter that have been living in the subject property for years. The property is in the daughter’s name. The daughter is 6 months late on her mortgage. Can we transfer the deed to the mother and do a reverse mortgage? - July 25, 2010
Reverse Mortgage Co-signer: I have a client that would like to be a non-occupying co-borrower for their son who is purchasing a 2-unit FHA. They currently have a reverse mortgage. Do I have to count this debt against them when there is no monthly payment? - April 25, 2010
Truth-in-Lending: Is there a different Truth-in-Lending required on a Reverse Mortgage? Sample TALC Included - April 25, 2009
Reverse Mortgage Purchasing Home: If someone currently has a reverse mortgage, can she use funds FROM the reverse mortgage to make a down payment on another home? - February 25, 2009
HECM Reverse Purchase: Can a seller carry back a 2^nd on a reverse mortgage purchase transaction? - January 25, 2009
HECM Reverse Mortgage Refi: Will FHA allow a reverse mortgage refinance of a property in a trust? Or will the borrower have to flip title into their name first? - January 25, 2009