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HUD Publishes New HECM Loan Limit Mortgagee Letter, Let The Apps Begin 

Nov 06, 2008By

Today HUD published Mortgagee Letter 08-35 which establishes a new national loan limit of $417,000 for all HECM loans.  According to the ML, lenders must use the new national mortgage limit and calculate the loan origination fee using limitations established by HERA, and new policy guidance issued by FHA, when re-calculating HECM loans that did […]