Friday Round-Up: Congress on Housing Reform, HUD Closed Monday

In case you missed it… here’s what happened in reverse mortgage news this week. 

Congress members weighed housing reform questions. In an hours-long hearing Thursday, Congress members and policy experts weighed tough questions on how best to reform the housing finance system in the U.S., FHA included. 

Senate OK’d CFPB Director Cordray… finally. After a long, drawn-out battle over the leadership structure of the Consumer Financial Protection Bureau as well as the man who currently sits in the agency’s top post, the Senate voted this week to confirm Richard Cordray as director of the 2-year-old agency. 

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AAG launched new reverse mortgage commercials. American Advisors Group has launched a new reverse mortgage commercial featuring company spokesman and former Senator Fred Thompson along with new marketing materials and five more commercials on the way. 

Moneyhouse spelled U.S. expansion plans. Puerto Rico-based reverse mortgage lender Moneyhouse is mapping continued expansion plans into the United States, including several personnel changes that will work toward driving growth.

HUD closed Monday. In response to budget cuts that led to furlough days across HUD, the department will close Monday and will reopen for business Tuesday. 

Written by Elizabeth Ecker

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