Two members of the United States House of Representatives who were each spearheading the creation of new reverse mortgage-centric legislation will not be returning to Capitol Hill in 2021, throwing the future of the proposed laws they each spearheaded into flux. This is based on the results of Tuesday night’s primary elections in the states […]
A bill introduced into the United States House of Representatives seeking to prevent evictions, foreclosures, and unsafe housing conditions resulting from the COVID-19 pandemic includes reverse mortgage borrowers, and was recently passed in the House before being sent to the U.S. Senate. The bill, House Resolution (H.R.) 7301 known as the “Emergency Housing Protections and […]
The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act has passed both houses of Congress and on Friday was signed by President Donald Trump, codifying the historic measure into law which is aimed at providing relief to American workers and businesses affected by the COVID-19 coronavirus pandemic. The law also contains several key provisions […]
After striking a deal in the early hours of Wednesday morning between Senate Republicans, Democrats and the White House, the U.S. Senate on Wednesday moved toward a vote on an historic stimulus bill aimed to relieve economic stress for Americans affected by the outbreak of the COVID-19 coronavirus. The bill will reportedly relax some of […]
A series of proposed legislative and administrative changes to the Federal Housing Administration’s (FHA’s) Home Equity Conversion Mortgage (HECM) program have not moved forward in Washington, D.C., as politicians in the nation’s capital have focused on other, more tumultuous and immediate concerns. In addition to a series of legislative and administrative proposals submitted by the […]
The reverse mortgage industry is about to close out another eventful year on the calendar, which has naturally put those of us in the RMD offices in a bit of a reflective mood as we get ready to say goodbye to 2019. The year has not been without its interesting and eye-catching stories, whether discussing […]
In what likely amounts to welcome news ahead of the holidays, Congressional Democrats along with Senate Republicans have reportedly agreed to a $1.3 trillion spending plan ahead of a December 20 deadline, apparently averting the possibility of a new partial federal government shutdown as we head into 2020, according to reporting at the Washington Post. […]
Secretary of the Department of Housing and Urban Development (HUD) Dr. Ben Carson reiterated Tuesday his and the department’s commitment to addressing the financial viability of the Home Equity Conversion Mortgage (HECM) program, stating recent program changes have been “directionally positive.” He shared this commitment in a statement submitted to the House Financial Services Committee […]
Consumer Financial Protection Bureau (CFPB) Director Kathleen Kraninger served as the focus of ire from Democrats on the U.S. House of Representatives’ Financial Services Committee in a hearing designed to serve as a semi-annual review of the Bureau and its education and enforcement activity. In her opening remarks, Financial Services Committee Chairwoman Maxine Waters (D-Calif.) […]
The late September hearing of the U.S. House of Representatives Financial Services Subcommittee on Housing, Community Development, and Insurance provided a rare moment of insight into the perspectives that national politicians maintain toward the Home Equity Conversion Mortgage (HECM) program. Over the course of the proceeding, more Republicans expressed doubt concerning the viability and effect […]
