Principal Deputy Assistant Secretary (PDAS) for the Office of Housing and the FHA Lopa P. Kolluri detailed that FHA is currently examining ways in which previous reverse mortgage policy guidance could be consolidated into the Single Family Handbook.
The reverse mortgage industry is making another effort to assist in developing legislation which would allow reverse mortgage loans on co-ops, after a veto from Governor Andrew Cuomo derailed a previous effort at the end of 2019.
Principal Deputy Assistant Secretary (PDAS) for the Office of Housing and the FHA Lopa P. Kolluri addressed the reverse mortgage industry at the NRMLA Virtual Policy Conference this week, discussing how the HECM program aligns with the administration’s priorities while also discussing what still needs to be addressed in the program.
The National Reverse Mortgage Lenders Association (NRMLA) has appointed ReverseVision President and CEO Joe Langner to its Board of Directors.
NRMLA has submitted a series of comment letters to the U.S. Department of Housing and Urban Development (HUD), requesting clarification for recent guidance related to the selection of a new HECM rate index and asking for obsolete servicing forms to be retired.
The NRMLA/RiskSpan Reverse Mortgage Market Index shows another impressive quarterly increase, as well as positive year-over-year data.
LIBOR’s primary regulator has laid out the index’s definitive endgame, a move lauded by the reverse mortgage trade association but which still awaits action from FHA for the industry.
Homeowners aged 62 and older saw their collective housing wealth increase in Q3 2020 by 1.6% compared to the previous quarter. This constitutes an increase of approximately $121 billion to a record of $7.82 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The […]
The Board of Directors for the National Reverse Mortgage Lenders Association (NRMLA) has elected its co-chairs to serve in the 2020-2021 term. Scott Norman of Finance of America Reverse (FAR) and Mike Kent of Liberty Reverse Mortgage were unanimously elected. Norman was first elected to NRMLA’s board in 2012, and serves as FAR’s VP of […]
In a surprise late addition to the speaker lineup at the National Reverse Mortgage Lenders Association (NRMLA) Virtual Annual Meeting & Expo, association President Steve Irwin introduced Brian D. Montgomery, the deputy secretary of the U.S. Department of Housing and Urban Development (HUD) to address the attendees on the status of the Federal Housing Administration […]