The Reverse Mortgage Counseling Association (RMCA) released a new tool to help lenders and borrowers find HUD approved counseling agencies.
Consumers can use the tool to choose a HUD approved RMCA member housing counseling agency and register online or call the unique toll free number of the agency located right under the agency’s name for reverse [...]

The US Department Housing and Urban Developments decision to require reverse mortgage counselors pass an exam is stumping veteran housing specialists says the Post and Courier.
A HUD spokesman said the agency “acknowledges the test is intentionally difficult, but we believe it needs to be so because of the vulnerable population who seek out reverse [...]

Consumer Credit Counseling Service of Greater Dallas announced it’s offering free reverse mortgage counseling throughout 2010. 
The agency received approximately $350,000 in combined grants from the U.S. Department of Housing and Urban Development (HUD) and the National Foundation for Credit Counseling (NFCC).

Alliance Credit Counseling released Reverse Mortgage Counseling Locator to assist both lenders and borrowers in finding approved counseling agencies.
When borrowers enter their zip codes, the website automatically populates a list of ten HUD-approved HECM counselors (five local, five national) along with directions to the locations and shows what type of counseling is available: in [...]

National Council on Aging (NCOA) announced it will offer free counseling for seniors through its Reverse Mortgage Counseling Services (RMCS) Network. 
For the next three months, RMCS counselors are waiving the usual $125 counseling fee in order to help more homeowners understand how reverse mortgage loans can help them remain in their homes.

The US Department of Housing and Urban Development will publish a new reverse mortgage counseling protocol next month according to the National Reverse Mortgage Lenders latest Monday Report.  After the protocol is published, HUD said it will take effect 30 days later. 
Included in the new protocol is a new financial interview tool (FIT) that [...]

In a ruling last month, Charles J. Thomas, a New York Supreme Court Judge voided a reverse mortgage and its subsequent refinancing on the grounds that the borrower’s mental illness made her unable to understand the reverse mortgage.
In the case, Matter of Doar, 31393/07, the borrower, Ms. Hermina Brunson, took out a reverse mortgage with [...]