Search Results for keywords:"Home Equity Conversion Mortgage"

The Department of Housing and Urban Development (HUD) has sent a proposed data collection plan to the Office of Management and Budget (OMB) for review. This is related to the Home Equity Conversion Mortgage (HECM) program, which helps seniors access home equity through reverse mortgages. The plan outlines new requirements for property inspections to ensure the safety and eligibility of homes involved in this program. HUD is inviting public comments on the proposal, including suggestions on improving the process and minimizing any burdens on respondents, until February 24, 2021.

The Department of Housing and Urban Development (HUD) issued a notice seeking public comments on a proposed information collection related to the Home Equity Conversion Mortgage (HECM) program. This proposal requests approval from the Office of Management and Budget (OMB) and aims to gather information from individuals or organizations involved in servicing HECM mortgages. The notice outlines key details such as the number of respondents and the estimated response burden, and invites public input on the necessity and effectiveness of the proposed information collection. The comment period is open for 60 days until April 13, 2021.