A senior FHA official described to an audience of reverse mortgage professionals how the recently-passed American Rescue Plan will impact senior borrowers, and optimism surrounding FHA’s ongoing work with reverse mortgage practitioners and stakeholders.
Federal Housing Administration (FHA) Deputy Assistant Secretary (DAS) for Single Family Housing Julienne Y. Joseph provided an update on the performance of the Home Equity Conversion Mortgage (HECM) program, and offered additional thoughts about its importance to American seniors.
The National Reverse Mortgage Lenders Association (NRMLA) is still determining whether or not its Annual Meeting and Expo in November should remain virtual, or shift to an in-person format.
The National Reverse Mortgage Lenders Association (NRMLA) has submitted a letter to the U.S. Department of Housing and Urban Development (HUD) seeking clarification on recently-announced rules concerning non-borrowing spouses (NBS) in reverse mortgage loans.
The Texas state legislature is in the process of debating two bills that will have an impact on reverse mortgages in the state, specifically on issues related to deceptive advertising and foreclosures.
A government relations expert within the reverse mortgage industry describes the importance to the business of engaging with legislators at the state and federal levels, and how industry players can get involved.
The National Reverse Mortgage Lenders Association (NRMLA) has officially approved the mission statement of its Diversity, Equity and Inclusion (DEI) Committee, stating what it hopes to accomplish.
Members of NRMLA’s executive committee offered an update for the reverse mortgage industry’s efforts to move away from the LIBOR index, and toward the preferred SOFR index for adjustable-rate reverse mortgages.
The reverse mortgage industry’s trade association has announced efforts to increase diversity, equity and inclusion efforts in the reverse mortgage business and its customer base through broad conversations and a new association committee.
Reverse mortgage counselors are outpacing others overseen by HUD in a key compliance metric, while HECM counseling overall has dropped slightly according to data shared at the NRMLA Virtual Policy Conference by David Berenbaum, deputy assistant secretary in HUD’s Office of Housing Counseling.