Reverse Mortgage Queens
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Update 12/12 HUD notified Congress of wanting power to control the HECM program to make fine tuning changes without needing Congress's approval.
1/13 The acting comissioner of FHA writes a letter to Senator Corker on the proposed changes to the FHA Program, "I expect to be held accountable" elimination of the fixed rate standard program starting Feb 1st and very minor changes to FHA's Regular standard mortgage program expected. The forward mortgage FHA program 80% of the 22 billion in default have minor changes not worth mentioning and effecting under .01% of those getting a standard FHA mortgage.
1/13 the acting comissioner of FHA is appointed to the Comissioner of FHA.
1/30/13 The Mortgagee letter from FHA comes out allowing Standard fixed rate mortgage case numbers issued until April 1st, no other major changes worth mentioning.