"The guaranteed loan subsidy rate for HECMs was -2.87% in 2024, indicating program receipts exceeding costs, thus benefiting taxpayers instead of requiring subsidies."
"The Budget submitted requests $160 million for MMI Program administrative expenses, underscoring support for FHA functions like loan underwriting and servicing."
The article discusses the guaranteed loan subsidy rate for Home Equity Conversion Mortgages (HECMs), which was recorded at -2.87% in 2024, indicating that the program produced excess receipts, thereby benefiting taxpayers. This rate is expected to slightly decline to -2.65% in 2025 before increasing to -3.13% in 2026. Alongside this, the HECM budget authority also shows a similar downtrend. The article highlights the ongoing disparity between forward mortgage insurance and the HECM program, with the latter projected at just $15 billion. Fiscal requests from the administration and further updates will be released in future HUD documents.
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