Senate Banking Committee Advances Biden’s HUD Nominee for Confirmation, NRMLA Expresses Support

The U.S. Senate Committee on Banking, Housing and Urban Affairs has advanced the nomination of Rep. Marcia L. Fudge (D-Ohio) — President Joe Biden’s nominee to become the next Secretary of the U.S. Department of Housing and Urban Development (HUD) — to the full Senate for confirmation. This is according to reporting at Cleveland.com and […]

HUD Issues Waivers Relaxing In-person Requirements Between Reverse Mortgage Borrowers, Servicers

In a move designed to facilitate easier physical distancing between people as the COVID-19 pandemic continues, the U.S. Department of Housing and Urban Development (HUD) today issued a series of waivers relaxing provisions which normally require in-person contact between mortgage servicers and borrowers, including seniors with Federal Housing Administration (FHA)-insured Home Equity Conversion (HECM) reverse […]

Motley Fool: Home Equity a ‘Surprising’ Source of Retirement Income

While Americans have a multitude of potential options and avenues they can use to fund their life after completing a career, many Americans — including current seniors — often find themselves unprepared for retirement. This is why it may be necessary to seek out less traditional sources of retirement funding, and one such potential source […]

2021 Begins With Eye-popping Reverse Mortgage Volume, Steady HMBS Issuance

Home Equity Conversion Mortgage (HECM) endorsements in January recorded a very strong increase at the beginning of the year, rising 10.8% to 4,539 loans. This makes January 2021 volume the highest that the industry has seen since May 2020, which marked an explosive increase in volume to over 5,000 loans. January also marks a continued […]

Biden’s HUD Nominee Supported by MBA, Obama-era Secretary

Rep. Marcia Fudge (D-Ohio), President Joe Biden’s nominee to serve as the next Secretary of the U.S. Department of Housing and Urban Development (HUD), has received messages of support from one trade organization in addition to a former HUD Secretary who served in the administration of President Barack Obama. Fudge, who last week sat for […]

Forbes: Reverse Mortgages Can Help Seniors Pay Down Debt in Retirement

One often overlooked tactic that seniors can employ when seeking to pay down outstanding debt in retirement is the strategic use of a reverse mortgage loan, one of several options that an older American can use when examining their finances during their post-working years. This is according to contributor Bob Sullivan and editor John Schmidt […]

Global Home Equity Release Faces Familiar Challenges to U.S. Reverse Mortgage Business

Multinational professional services network Ernst & Young (EY) and the European Pensions and Property Asset Release Group (EPPARG) have published a new report featuring survey insights from several nations across the world which participated in an event called the 2020 Global Equity Release Roundtable, which took place in late 2020 emanating from London, England. The […]

Acting CFPB Director Outlines New Agency Actions, Aims at Mortgage Servicers

Dave Uejio, acting director of the Consumer Financial Protection Bureau (CFPB), announced late last week some changes to the agency’s policies he outlined in an email to Bureau staff. Because of the scale of the announcement, Uejio elected to release the email publicly via the CFPB’s official blog. “I know that the Bureau’s staff shares […]

Fudge Reveals Priorities as HUD Secretary in Senate Confirmation Hearing

Rep. Marcia Fudge (D-Ohio), President Joe Biden’s nominee to serve as the Secretary of the U.S. Department of Housing and Urban Development (HUD), sat for a confirmation hearing in the U.S. Senate Committee on Banking, Housing and Urban Affairs, indicating that she may have an easier time being confirmed for the HUD leadership position than […]