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Reverse Mortgage Origination Fees Decoded

Reverse Mortgage Origination Fees Decoded

This is a discussion on Reverse Mortgage Origination Fees Decoded within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; As HUD explains, for all HECMs where the FHA case number is assigned on or after October 31, 2008, “the ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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11-10-2008, 08:24 AM

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Reverse Mortgage Origination Fees Decoded

As HUD explains, for all HECMs where the FHA case number is assigned on or after October 31, 2008, “the loan origination fee limit will be the greater of $2500 or two percent of the maximum claim amount of the bmortgage/b, up to a maximum b.../b

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decoded, fees, mortgage, origination, reverse

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