Today, Financial Services Committee Chairman Barney Frank (D-MA) plans to bring “The American Housing Rescue and Foreclosure Act” to the House floor for a vote. This is a “rollup” piece of legislation that includes a number of housing related matters, including FHA Modernization.

Standard & Poor's Ratings Services has revised its U.S. residential mortgage-backed securities (RMBS) home equity conversion mortgage (HECM) reverse mortgage cash flow assumptions.

FHA endorsed 9,564 reverse mortgages in April, bringing the year-to-date total to 64,776. Compared to last year, FHA insured 8,041 loans in March 2007 totaling 61,101.

In this section, you will find information on HECM claims activity.

Following is a more detailed analysis of the monthly HECM data published by HUD prepared by Reverse Market Insight.

As many of you know, the industry faces many challenges around the practice of cross-selling financial and insurance products with reverse mortgages.

NRMLA is pleased to introduce our new “digital assets” web page on NRMLAOnline.org featuring audio recordings from past NRMLA meetings and the Learn While-U-Lunch program available for purchase and download.

Since returning from Spring recess, Congress has become preoccupied with passing foreclosure prevention legislation to deal with falling home values and the credit crisis.

As most NRMLA members know, generating positive coverage of reverse mortgages is a major objective at the association.

NRMLA's Congressional Relations Committee has prepared the following presentation to help educate members on the legislative process.

NRMLA's Congressional Relations Committee has developed the following PowerPoint presentation to help educate our members on the importance of political advocacy.

The following guidance on assigning loans was provided by the U.S. Department of Housing and Urban Development for educational purposes.

Our next Learn While U Lunch program, Helping Clients with Credit Card Debt and Bankruptcies, is scheduled for May 13, at 12 noon Eastern Time (11 a.m. Central, 10 a.m. Mountain, 9 a.m. Pacific).

HUD published Mortgagee Letter 2008-8 today, providing guidance to lenders that wish to offer HECMs with a fixed interest rate.

Following is a memo from NRMLA President Peter Bell on appropriate marketing practices.

The purpose of NRMLA Ethics Advisory Opinion 2008-01 is to provide specific guidance to NRMLA Members about what constitutes Unethical Advertising.

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.

Unfortunately, not everybody can qualify for a reverse mortgage. Perhaps the homeowner doesn’t have enough home equity to pay off an existing mortgage, the property may not qualify, or one the spouses may be under 62 and quit-claiming them off title is not an option.

CPA Jim Veale says reverse mortgages have significant federal (and state) income and estate tax implications.