Two New Reverse Mortgage Reform Bills Push for Program Change

On the heels of a House subcommittee hearing Wednesday on the Home Equity Conversion Mortgage program, committee members revealed two drafted reverse mortgage bills that move for program change. The draft legislation, slated to be introduced by Democratic House members Denny Heck (Wash.) and Lacy Clay (Mo.), respectively, aim to address issues related to bolstering […]

Congressmen, Housing Experts Weigh HECM Program Pros and Cons

In a rare assembly of reverse mortgage stakeholders, housing experts and members of Congress, a hearing convened Wednesday before the The U.S. House of Representatives Financial Services Subcommittee on Housing, Community Development, and Insurance to discuss the merits and areas of improvement of the federal Home Equity Conversion Mortgage (HECM) program. Newly drafted legislation, a […]

Witness List Revealed for Upcoming House HECM Hearing

A day in advance of a scheduled Home Equity Conversion Mortgage program hearing before the U.S. House of Representatives Financial Services Committee, the committee has released the names of the four witnesses who will provide testimony and answer questions from the committee’s members. The witnesses who will testify before the committee include Peter Bell, president […]

Waters Takes Aim at Forward FHA Mortgage Servicers With New Bill

The office of Congresswoman Maxine Waters (D-CA), chairwoman of the House Financial Services Committee, announced last week the development of new legislation specifically designed to mitigate the number of foreclosures associated with forward mortgage loans backed by the Federal Housing Administration (FHA). The proposed bill, called the FHA Foreclosure Prevention Act of 2019 aims to […]

U.S. House Contemplates CFPB Reform Bill

The United States House of Representatives is contemplating the passage of a bill designed to roll back limitations placed on the Consumer Financial Protection Bureau (CFPB) during the tenure of acting director Mick Mulvaney, according to a report in The Hill. Mulvaney, who was replaced upon the confirmation of the Bureau’s current director Kathleen L. […]

U.S. House Proposes Bill With $100 Million Aging in Place Provision

A new bill being proposed by Rep. Maxine Waters (D-CA) and discussed in a hearing of the House Financial Services Committee on Tuesday morning includes a proposed allocation of $100 million to address the needs of rural seniors to age in place. The “Housing is Infrastructure Act of 2019” aims to provide funding for the […]

House Committee Aims to Redefine Retirement With Sweeping Bill Passage

The Ways and Means Committee in the United States House of Representatives unanimously passed a bill aimed at increasing the flexibility of 401K savings accounts, and improving access to the accounts for both small businesses and the workers employed by them. Described as potentially the, “most comprehensive changes to private retirement plans in more than […]

CFPB Director Kraninger Takes Hot Seat at House Committee Hearing

New Consumer Financial Protection Bureau (CFPB) Director Kathleen L. Kraninger testified Thursday morning before the House Financial Services Committee, answering pointed questions from Democratic and Republican politicians concerning the oversight of the agency. In a hearing titled “Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau,” Democratic members of Congress led by […]

U.S. House Passes Bill to Fund HUD, Transportation Dept.

At the end of the 20th day of the partial United States government shutdown, the Democratically-controlled House of Representatives passed a standalone spending bill to fund and reopen both the Department of Housing and Urban Development (HUD) and the Department of Transportation, along with a handful of other agencies. According to The Hill, the House […]