CredAbility is offering free HECM counseling for borrowers in default from failure to pay their taxes and insurance said the agency on Thursday. Between late January and early April, lenders will be sending this group of borrowers a letter explaining that they are in default, advising them to call a nonprofit reverse mortgage counseling agency.

Fox News ran a follow up on reverse mortgages this morning after they received so many emails about the previous segment. Bob Massi, a fox news legal analyst, said that he may have been a little misunderstood last week – actually wrong – that in fact, if you get a reverse mortgage, the heirs can [...]

The National Association of Mortgage Brokers (NAMB) sent a letter to the Federal Reserve Board requesting it delay enforcement of the changes to Regulation Z for 12 months and for further clarification pertaining to loan originator (LO) compensation which is set to be enforced as of April 1, 2011. The NAMB calls the rule a [...]

A stock tip that turns out to be right, is worth every penny. So, Jeffrey Traister’s prediction about the reverse mortgage investment sector may be worth considering. Traister, managing director and head of agency and non-agency reverse mortgage trading at Cantor Fitzgerald in New York, says he has “no doubt that…10 years from now, this [...]

Senator Rand Paul (R-Ky) introduced a bill that would cut $500 billion in government spending by the end of 2011 and eliminate all funding for the Department of Housing and Urban Development. “I am proud to introduce my own solution to the mounting debt our spendthrift, oversized government has accrued. By rolling back to 2008 [...]

The National Reverse Mortgage Lenders Association (NRMLA) announced its first conference of 2011 will kick off on March 15-16 in Newport Beach, CA, at the Fairmont Hotel. The event, “NRMLA West: New Requirements/New Relationships” will focus on how lenders can prepare their business for regulatory changes coming this year. “With the new compensation rules being [...]