WASHINGTON (AP) — The Federal Housing Administration could limit the size of initial lump-sum payments that lenders offer reverse mortgage borrowers and require escrow accounts to cover taxes and insurance, under legislation the House passed Wednesday.
The bill, passed on a voice vote, is intended to help the government mortgage insurance agency work its way out of financial difficulty.
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
See Options
Already a member? Log in
Already a print subscriber? Click here to login/register your account
