Tag Archives: Mortgagee Letter

Patrick Nackley, Director of Marketing and Business Development at Superior Home Services sat down with MReport to explain how the new HUD advisement will affect servicers' businesses and what they can do to adjust and comply with the changes.

HUD issued a new Mortgagee Letter warning lenders participating in the FHA's reverse mortgage program against using deceptive advertising regarding the program. FHA Commissioner Carol Galante explained the guidance "is intended to make sure lenders know we're keeping a watchful eye on their marketing and advertising practices that might steer borrowers toward reverse mortgage options that limit their available choices."