What's New
Hot Buttons!—NRMLA Presenting Free Webinars for Member Delegates
February 4, 2010
NRMLA is presenting a series of complimentary webinars on the Hot Button Issues, those subjects that most frequently rear their ugly heads and hurt us all.
Reverse Mortgage Magazine- 2010 Issues
Report from the front lines; The Challenge of Selling in California; Analyzing California's Reverse Mortgage Laws; The Next Cornucopia: Condos; Just Say No: Deals to Walk Away From
Exclusive HECM Endorsement Analysis
February 3, 2010
Following is a more detailed analysis of the monthly HECM data published by HUD prepared by Reverse Market Insight.
NRMLA Member Alert: Timing for HUD MIP Proposal
February 3, 2010
NRMLA update on timing of budget proposal.
NRMLA Member Alert: HUD 2011 Budget Includes Subsidy, MIP Increase
February 1, 2010
For the reverse mortgage business, the highlights of HUD’s proposed budget for fiscal year 2011 includes a subsidy of $250 million for the MMI/HECM fund, an increase in the ongoing annual Mortgage Insurance Premium (MIP) from .5% to 1.25% and a low-to-mid single digit cut in the principal loan limit with the higher end affecting older borrowers.
A Comprehensive Guide to HECM Counseling
January 28, 2010
Following is a Q&A developed by NRMLA covering some of the most important rules and regulations that pertain to counseling.
A New Year and a New Decade – the Regulatory Outlook for the Reverse Mortgage Industry
January 4, 2010
Below is a summary prepared by NRMLA's legal counsel James Milano of Weiner, Brodsky, Sidman, Kider, P.C., detailing several important legal changes that will become effective either on January 1, 2010 or early in 2010.
NRMLA Recommends HUD Continue Correspondent Approval
January 4, 2010
On Wednesday, December 30, NRMLA submitted comments to HUD in response to the Proposed Rule eliminating FHA approval of correspondents, increasing net worth requirements for lenders and shifting responsibility for overseeing brokers to lenders.
Monthly HECM Production
January 3, 2010
FHA insured 7,629 reverse mortgages in January (32,418 overall for FY 2010), compared with 9,858 loans endorsed a year ago (37,511 total).
Avoiding the Pitfalls of Lead Generation
December 24, 2009
While some reverse mortgage loan originators attract new clients through their web site, referral sources or advertising, many others purchase "leads" from third-party vendors.
Letter from FHA Commissioner David Stevens
December 18, 2009
FHA Commissioner David Stevens explains his top priorities and responds to concerns over the proposed rule change to eliminate FHA-approval of loan correspondents and raise lender net worth requirements and forthcoming changes to RESPA.
NRMLA Submitting Comments on Proposed Regulatory Changes
December 18, 2009
Between now and the end of the year, NRMLA will be submitting comments to the Federal Reserve Board in response to some very important proposed regulatory changes.
Financial Regulators Propose Guidance on Reverse Mortgages
December 17, 2009
The Federal Financial Institutions Examination Council released proposed guidance today on reverse mortgage products.
Reverse Mortgage Magazine: 2009 Issues
NRMLA presents the 2009 edition of Reverse Mortgage magazine, the reverse mortgage industry's official news source.
HUD Publishes Guidance on Approving Condominium Projects (Updated)
December 3, 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.
HUD Seeks Changes to Broker Approval Process (Updated)
December 3, 2009
The Department of Housing and Urban Development published a proposed rule today that increases capital requirements for lenders and dramatically alters the process by which brokers are approved to originate Federal Housing Administration insured loans.
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.
UPDATES
1/7/2010
Updating Your Web site Listing
Any members who need to update their web listings on ReverseMortgage.org should immediately contact Linda Latimore, at llatimore@dworbell.com.
HUD Contacts
January 15, 2010
Following is a list of HECM program contacts at HUD's four regional Home Ownership Centers, and at headquarters.
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.
FHA Outlook: Single-Family Operations
January 3, 2010
FHA publishes a monthly report titled FHA Outlook: Single-Family Operations, which examines its forward and reverse book of business for that particular month.
FHA Mortgagee Letters
November 9, 2009
Following is a list of FHA Mortgagee Letters that govern the HECM program.
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.
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.
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.