The Department of Housing and Urban Development,HUD, sets a "Maximum Claim Amount" (MCA), or maximum loan amount, for FHA-backed loans (including HECMs); this amount is set for each county in the U.S. For HECMs, the MCA is either the appraised value of your home or the FHA maximum...
Define Xxxxxx Xxx HECM Repurchase Trigger. means, with respect to a HECM Loan, the lesser of (a) 98% of the Maximum Claim Amount and (b) such lesser percentage of the Maximum Claim Amount allowed by Xxxxxx Mae.