As HUD Secretary Fudge ascends to leadership, RMD looks at this time of challenge for American housing and moment of change for reverse mortgages.
The American Rescue Plan Act of 2021 doesn’t have reverse mortgage-specific provisions, but a $10 billion Homeowners Assistance Fund could be used by HECM borrowers for help during the pandemic.
The American financial sector is concerned about the potential actions of the Consumer Financial Protection Bureau (CFPB) in 2021, owing to changes that the incoming administration could make to the agency’s regulatory posture particularly as it pertains to the Bureau’s use of its enforcement authority. This is according to reporting at Bloomberg. “Banks should be […]
The results from the November general election in the United States could have notable impacts on key issues relevant to the reverse mortgage industry including the selection of a new servicing contract for the Federal Housing Administration (FHA), the legislative priorities of the White House and Congress as it relates to matters of housing, the […]
U.S. Representative Denny Heck (D-Wash.), who represents Washington state’s 10th congressional district in the U.S. House of Representatives, defeated his opponent in Tuesday’s general election in a contest deciding the next lieutenant governor of Washington state. This is according to data from the Washington secretary of state’s office and the Seattle Times. Heck, who announced […]
While the sheer amount of cacophonous noise has enveloped the American political landscape even more than usual as citizens prepare to cast – or drop off – their ballots, the reverse mortgage industry will take notice. Obviously whomever is the victor in this year’s presidential election will have the power to shape the industry for […]
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 […]
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 […]