In a hearing, an economic policy expert with the Bipartisan Policy Center told U.S. Senators that reverse mortgages could be a “potentially useful tool” for retirees looking to convert illiquid housing wealth into cash.
U.S. Senate
After months of delays and political roadblocks, the U.S. Senate on Thursday voted to confirm Federal Trade Commissioner Rohit Chopra as the third director of the Consumer Financial Protection Bureau.
The Senate is poised to advance the nomination of Rohit Chopra as director of the Consumer Financial Protection Bureau (CFPB) after being held up since President Biden’s inauguration in January.
President Biden’s nominee to serve as the full-time Director of the Consumer Financial Protection Bureau (CFPB), Federal Trade Commissioner Rohit Chopra, remains unconfirmed over four months after his nomination which appears to stem from partisan concerns about the balance of power at the Federal Trade Commission (FTC).
As the White House promotes a massive infrastructure spending package, reverse mortgages are left waiting while a Biden administration budget proposal is formulated.
A political professional gives the reverse mortgage industry an overview of how the political realities are playing out in Washington, D.C., describing an environment of competing crises and lack of housing appointees as taking up much of the political bandwidth available for other issues.
As HUD Secretary Fudge ascends to leadership, RMD looks at this time of challenge for American housing and moment of change for reverse mortgages.
President Joe Biden’s nominee to lead the U.S. Department of Housing and Urban Development (HUD), Marcia Fudge of Ohio, has been confirmed by the U.S. Senate.
Senate Majority Leader Chuck Schumer (D-N.Y.) is preparing to speed HUD Secretary nominee Marcia Fudge to confirmation in the Senate.
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.
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