What's New
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.
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.
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.
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.
HUD Publishes Reverse Mortgage Questions in RESPA Q&A
October 26, 2009
Last week, HUD published a Q&A pertaining to the impact of reverse mortgages in the new RESPA guidelines due out right after the New Year.
NRMLA Annual Meeting Conference Page
October 16, 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.
Governor Schwarzenegger Signs Reverse Mortgage Elder Protection Act Into Law
October 14, 2009
Governor Schwarzenegger has signed into law AB 329, which amends provisions of the California Civil Code currently regulating reverse mortgages, to enact the Reverse Mortgage Elder Protection Act of 2009.
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.
NRMLA Advocates Reduced MIP In Place of PLF Haircut
October 14, 2009
In his testimony last week before the Subcommittee on Housing and Community Opportunity, NRMLA President Peter Bell proposed a restructuring of the mortgage insurance premium collected by the Federal Housing Administration on all Home Equity Conversion Mortgages and removing the 10 percent reduction in principal limit factors.
UPDATE: Case Number Assignments & HECM Loan Limit
October 1, 2009
A number of NRMLA members have voiced concerns about the possibility that the FHA Connection system might not be up to the task of handling the flurry of requests for case numbers through this evening.
Member Alert: HUD Issues Mortgagee Letter Lowering Principal Limit Factors
September 23, 2009
HUD publishes Mortgagee Letter 2009-34 implementing a 10% haircut in principal limit factors, effective for all loans on which applications are taken on or after October 1, 2009.
UPDATES
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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.
FHA Mortgagee Letters
February 26, 2009
Following is a list of FHA Mortgagee Letters that govern the HECM program.
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.