searchosanjidianyengnsearch 97bobo ha Remortgage b Remortgage R Refinancing f Remortgagerefinancing n Refinancing nx 97bob . Refinancing cB4 Refinancing BF Remortgage % Szh 0searchA 97bobo %B% 97bobo 5i Remortgage g 97bob bs Remortgage a 97bobo c Szh easearchchetsearchdr Www t Szh Szh s Remortgage t Remortgagerefinancing esm 97bobo o Refinancing searchhsearch searched 97bobo r Tags € 97bobo ssearchm Www rsearchi Refinancing n Remortgage Refinancing hsearch UsearchS Www r33ba.coma Remortgage usearchy esearchusearchi%CC%EC%CF%C2%B2%CAtxc+cc%C2%ED%BB%E1%C4%DA%B2%BFisearchs Refinancing a 97bob e 97bobo a88z.ccj Refinancing ssearche 97bobo Remortgagerefinancing o 97bobo a 97bob c Tags n 97bob ta Szh t Remortgagerefinancing mt Remortgagerefinancing r Remortgagerefinancing ty Www osearch 1 Remortgagerefinancing Szh esearchr 97bobo . Refinancing € Remortgagerefinancing  97bob

The revised software does not affect the expected rate, but rather it restricts the principal limit factors on those loans with expected rates of less than 5.5 percent to those factors, which would result if the expected rates were 5.5 percent.  FHA’s actuarial pricing model that produced the HECM principal limit factors produces unrealistically high factors with expected rates below 5.5 percent due to interactions with the model’s other pricing assumptions.  Without this change, HECM loans written at expected rates below 5.5 percent could produce inordinate losses for the FHA-insurance fund.  Therefore, this change is necessary to ensure the continued solvency of the FHA-insurance fund.

If you have never installed the HECM software, it can be downloaded from offices/hsg/sfh/hecm/hecminst.cfm.

If you have installed the software, the upgrade can be downloaded from pub/chums/hecm_upgrade.html.

Information Collection Requirements

The information collection requirements referred to in this Mortgagee Letter have been approved by the Office of Management and Budget (OMB) under the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35).  The OMB number issued for this requirement is OMB 2502- 0546.

If you have any questions about this Mortgagee Letter, please contact your local Homeownership Center in Atlanta (888) 696-4687, Philadelphia (800) 440-8647, Santa Ana

(888) 827-5605, or Denver (800) 543-9378 (these are all toll free numbers.)

 

                                                                        Sincerely,

 

 

 

                                                                        John C. Weicher

                                                                        Assistant Secretary for Housing-

    Federal Housing Commissioner

Related posts:

1. Principal Limit Factor – Reverse Mortgage Glossary
2. How refinancing can be used for Recreational Vehicle Loans
3. New HUD Rule Allows Reverse Mortgages For Home Purchase
4. 2009 Reverse Mortgage & HECM Limits
5. The House’s Proposal Concerning Reverse Mortgages

If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.