FHA increased the home equity conversion mortgage (HECM) limits for 2018. The maximum claim amount for FHA-insured HECMs in 2018 will be $679,650 (an increase from $636,150). This maximum claim amount is also applicable to Freddie Mac’s special exception areas of Alaska, Hawaii, Guam, and the Virgin Islands. The HECM limits apply to HECMs with case numbers assigned on or after January 1, 2018.
Rural Housing Service
RHS Updates Monthly Electronic Status Reporting Codes
RHS issued a SFH Guaranteed Servicing Notice (Notice) announcing updated Electronic Status Reporting codes for mortgage servicers. Per the Notice, Default Status Code 10 was