FHA Facing Losses in New Year

Alex Spanko in the reverse mortgage indie blog, reverse mortgage daily, reports the Federal Housing Administration will kick off the new year without two familiar faces: Karin Hill, senior policy advisor in the Office of Single Family housing, and her colleague Phil Caulfield announced their retirements, according to a release from the National Reverse Mortgage Lenders Association.

Hill was a fixture at the trade group’s events, and managed the Home Equity Conversion Mortgage program for seven years — despite, as NRMLA pointed out, initially signing on for a one-year position back in 2010.

Caulfield, meanwhile, helped oversee the development and implementation of the Financial Assessment requirements for the HECM program.

“Few people have spent as much time in the weeds of HECM policy as Karin and Phil. It is because of their relentless commitment to getting this program right for the seniors it serves and the industry that offers it, that FHA’s reverse mortgages continue to be a viable option for homeowners who seek to age in place,” NRMLA president and CEO Peter Bell said in a statement. “We will miss them both and wish them well in retirement.”

This article duplicated from: https://reversemortgagedaily.com

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