NRMLA President on the Importance of Government Relations in Reverse Mortgages

As the reverse mortgage industry’s foremost advocacy and educational body, the National Reverse Mortgage Lenders Association (NRMLA) often interacts with stakeholders at every level of the business. From loan originators up through company executives, NRMLA’s membership encompasses a vast swath of the industry’s key players, but also has to interact on a regular basis with […]

Senior Housing Wealth Hits New Record High of $7.70 Trillion in Q2 2020

Homeowners aged 62 and older saw their collective housing wealth increase in Q2 2020 by 1.8% compared to the previous quarter. This constitutes an increase of approximately $134 billion to a record of $7.70 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. The […]

Reverse Mortgage Lenders, Servicers and Software Providers Prepare for Rate Index Shift

As the timeline for the London Interbank Offered Rate (LIBOR) index’s service as the basis for adjustable-rate reverse mortgages has been considerably shortened after a decision last month by the Government National Mortgage Association (GNMA, or “Ginnie Mae”), the reverse mortgage industry has found itself needing to quickly adapt to the adoption of a new […]

January 2021 LIBOR Restriction Spurs Planning from Reverse Mortgage Industry

The shortened timetable for the restriction of the London Interbank Offered Rate (LIBOR) index to serve as the basis for adjustable-rate reverse mortgages has caused the reverse mortgage industry to take action, as the reverse mortgage trade association and capital markets experts have engaged in dialogue with government officials with the aim of adjusting the […]

[Updated] FHA Commissioner: Reverse Mortgage Program Should Be Removed from MMIF

The Home Equity Conversion Mortgage (HECM) program continues to lose money for the Federal Housing Administration (FHA), and likely needs to be removed from the Mutual Mortgage Insurance Fund (MMIF) in order to stop forward mortgage borrowers from subsidizing their reverse mortgage counterparts. This is according to newly-installed FHA Commissioner Dana Wade, speaking with a […]

NRMLA Sees Place for Alt. Equity Alongside Reverse Mortgages

The employment of a senior’s home equity in an effort to produce better retirement outcomes by either paying for expenses or increasing a retiree’s quality of life is a cornerstone of the messaging employed by the reverse mortgage industry. Increasingly, alternative equity tapping products are finding a place in the conversation, as several companies have […]

Ginnie Mae: LIBOR-based HMBS Restricted Beginning in January 2021

The Government National Mortgage Association (GNMA, or “Ginnie Mae”) has announced new restrictions on the eligibility of Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) for adjustable rate loans operating off of the London Interbank Offered Rate (LIBOR) index, effective for all HMBS issuances dated on or after January 1, 2021, nearly a year ahead of […]

As LIBOR Sunset Nears, Reverse Mortgage Industry Prepares for What’s Next

The reverse mortgage industry, in consultation with federal agencies and industry stakeholders, is taking active steps to prepare for the sunset of the London Interbank Offered Rate (LIBOR) index, which is scheduled to end in 2021. Work between capital markets experts, the Department of Housing and Urban Development (HUD), the Government National Mortgage Association (GNMA, […]

Tech Brings Forward and Reverse Mortgages Closer Together, Expanding Opportunity

As the COVID-19 pandemic has necessitated the reverse mortgage industry to more quickly embrace new kinds of technologies in order to continue efficiently keeping the business moving, the additional benefit that comes with that transition is that operational processes are being brought more closely in-line with the way the traditional, forward mortgage space operates. This […]