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Government Accountability Office

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HUD Financial Report: Reverse Mortgages ‘Undermine’ MMI Fund, Enhanced Lender Oversight Needed 

Dec 09, 2020By

Despite noted improvements in the financial standing of the Home Equity Conversion Mortgage (HECM) book of business in recent years, losses in that portion of the Mutual Mortgage Insurance (MMI) Fund continue to “undermine” the fund’s stability, exposing “weaknesses” in the U.S. Department of Housing and Urban Development (HUD)’s internal control mechanisms. These are just […]