What's New
Update on RESPA
November 10, 2009
On October 22, 2009, HUD issued more FAQs for the Real Estate Settlement and Procedures Act (RESPA). These FAQs address what NRMLA’s RESPA Committee determined were four main issues with regard to RESPA’s effect on reverse mortgage transactions.
Update on State Issues
November 10, 2009
The NRMLA State Steering Committee has tackled several emerging issues in recent weeks. To begin with, new legislation from California presents some compliance challenges for reverse mortgage professionals as well as counselors.
HUD Publishes Guidance on Approving Condominium Projects
November 10, 2009
The U.S. Department of Housing and Urban Development published Mortgagee Letters 2009-46a and 2009-46b, which further clarify the process lenders must use to approve new condominium projects.
NRMLA Annual Meeting Conference Page
November 10, 2009
When times are tough and you're looking for the right tools to help you succeed, there's just one place to be: the 2009 NRMLA Annual Meeting & Expo.
FAQs for HECM Counselor Roster
November 10, 2009
The Department of Housing and Urban Development published the following FAQs for HECM counselors who have questions about the new Roster.
HUD Officially Implements Counseling Roster and Testing Standards
November 10, 2009
This morning, the U.S. Department of Housing and Urban Development published Mortgagee Letter 2009-47, which implements a final rule published in September that established the HECM Counselor Roster and testing standards that will be used to qualify new HECM counselors.
NRMLA Recommended Reading List
November 6, 2009
To better understand the current lending environment that we're operating in, it's important that members have access to the various speeches, reports and articles dealing with reverse mortgages that have been published recently.
Spotting Elder Financial Abuse—And What You Should Do About It
November 5, 2009
Most cases of elder financial abuse are not perpetrated by businesses, but by family members. We want to help you recognize when a client is being victimized and what your responsibilities are.
Monthly HECM Production
November 5, 2009
FHA insured 8,772 reverse mortgages in October, compared with 10,121 loans endorsed a year earlier.
Exclusive HECM Endorsement Analysis
November 5, 2009
Following is a more detailed analysis of the monthly HECM data published by HUD prepared by Reverse Market Insight.
HECM Servicing Q&A
October 29, 2009
The Department of Housing and Urban Development updated its Frequently Asked Questions (FAQ) document for HECM servicers to include guidance on short sale closing costs that has been an issue of concern for several servicers and borrowers.
An Originator's Guide to Underwriting, a Learn While U Lunch Program
October 29, 2009
Our next scheduled program--An Originator’s Guide to Underwriting--is scheduled for Tuesday, November 10 at 12 noon, Central (1 p.m. Eastern, 11 a.m. Mountain, 10 a.m. Pacific)
NRMLA Seeking Questions on New California Law
October 28, 2009
NRMLA Seeks Your Questions
Concerning the NEW
California Reverse Mortgage Elder Protection Act of 2009.
FHA Outlook: Single-Family Operations
October 28, 2009
FHA publishes a monthly report titled FHA Outlook: Single-Family Operations, which examines its forward and reverse book of business for that particular month.
NRMLA Working to Address RESPA Changes
October 14, 2009
On November 18, 2008, HUD issued final amendments making numerous and significant changes to Real Estate Settlement Procedures Act (RESPA) rules.
UPDATES
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FHA Mortgagee Letters
November 9, 2009
Following is a list of FHA Mortgagee Letters that govern the HECM program.
Annual HECM Production Chart
The following page shows annual HECM production from 1990 to the present by federal fiscal year and by calendar year from 2001 onward.
Get Your Customers the Information they Need with NRMLA Consumer Guides - New Reduced Prices
August 25, 2009
NRMLA has developed several information booklets for consumers that members can purchase at a discount to distribute to prospective clients. We recently reduced the pricing for our consumer booklet series for orders under 1000.
New Research Reports
July 15, 2009
The following section contains published research on different aspects of the reverse mortgage program, healthcare, and America's aging population.
HUD Contacts
April 30, 2009
Following is a list of HECM program contacts at HUD's four regional Home Ownership Centers, and at headquarters.
Key HECM Regulations
The following section lists the primary regulations pertaining to the FHA's Home Equity Conversion Mortgage Program, used by compliance, underwriting and servicing staff.
A Comprehensive Guide to HECM Counseling
April 17, 2009
Following is a Q&A developed by NRMLA covering some of the most important rules and regulations that pertain to counseling.
NRMLA Member Logo
July 24, 2008
NRMLA has developed the following Member Logo that you can use on your business cards, web site, and other marketing materials.