The Hill is reporting that the financial services industry is dueling with AARP over language in the Senate housing bill that would affect the reverse mortgage and insurance business.  The bill would prevent providers of reverse mortgages from selling borrowers another investment from the proceeds of the loan.  Reverse mortgage and insurance providers argue […]

Today NRMLA sent out an urgent notice to all members about a major housing bill that includes important amendments to the HECM program, including establishing a single national loan limit, which is about to be brought to the Senate floor for consideration. It appears that this bill might raise the maximum FHA loan limit […]

As the fixed rate HECM has become more popular, HUD recently decided to issue guidance on the product that will require HECM counselors to highlight the risks related to fixed rate HECMs to borrowers during a counseling session.  They want to make sure clients understand the following risks and considerations when opting for a […]