The Alternative Reference Rates Committee (ARRC) announced that it it is formally recommending SOFR term rates following the completion of a key change in interdealer trading conventions in July., though the reverse mortgage industry requires FHA action.
The U.S. Department of the Treasury released new guidance about the American Rescue Plan, detailing that certain borrowers of nontraditional mortgages — including reverse mortgages — may qualify for aid under the law.
Financial advisers can sometimes cite out-of-date information when it comes to regulations they feel can restrict them from discussing reverse mortgages, but a reverse mortgage expert and longtime educator explains two common misconceptions advisers have about some of these regulations.
The Supreme Court of Florida has decided a case involving a reverse mortgage for the lender, saying that the mortgage note which failed to include a spouse as a ‘co-borrower’ will allow the lender to foreclose on the accelerated loan.
The U.S. Supreme Court decided that the single-director structure of the Federal Housing Finance Agency (FHFA) violates the Constitutional separation of powers – echoing a similar 2020 decision regarding the CFPB – and the White House will move swiftly to name a new director for the agency.
With pandemic moratoriums on foreclosures and evictions set to expire soon, some have worried about a wave of foreclosures hitting the nation. That fear may not come to pass, according to reporting at Axios.
A housing policy expert describes some of the essential ways the reverse mortgage industry may be able to act in order to get good HECM program policy from the government, including an aim to “reframe” the way they perceive the reverse mortgage as a tool for seniors.
The Consumer Financial Protection Bureau (CFPB) has issued an enforcement action against a reverse mortgage lender, taking issue with its advertising practices. This story has been updated with a statement from the lender in question.
The trial of former Live Well Financial CEO Michael Hild for an alleged bond fraud scheme kicked off in the Southern District Court of New York in Manhattan on Tuesday.
A former HUD regional administrator from the Trump administration has been found to have violated the Hatch Act, a key ethics rule designed to prohibit government employees from engaging in political activity when performing official duties.