FHA increased the home equity conversion mortgage (HECM) limits for 2017. The maximum claim amount for FHA-insured HECMs in 2017 will be $636,150 (an increase from $625,500). 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, 2017.
Fannie Mae
Fannie Mae Issues Servicing Guide Announcement SVC-2024-06
Fannie Mae issued Servicing Guide Announcement SVC-2024-06 (Announcement), setting forth updates to the Servicing Guide. Per the Announcement, Fannie Mae clarified requirements related to eMortgages.
November 14, 2024
