Press Releases

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

Consistent with current market conditions, senior home equity declined by $27 billion in Q4 2007 as measured by the NRMLA/Hollister Reverse Mortgage Market Index (NRMLA/RMMI) Report.

Consistent with current housing market conditions, the quarterly Reverse Mortgage Market Index™ (RMMI) showed a decline in senior home values and home equity held for the 3rd quarter of 2007.

FHA insured reverse mortgage loans or Home Equity Conversion Mortgages (HECM) increased by 26.5% from 2006 to 2007.

Reverse Market Insight (RMI), in conjunction with the National Reverse Mortgage Lenders Association (NRMLA), is developing new reverse mortgage analytical products that will provide the reverse mortgage industry with industry level data and benchmarks.

The value of homes owned by Americans age 62 and over increased slightly during the second quarter of 2007, but senior home equity declined slightly, according to the Reverse Mortgage Market Index™.

NRMLA, in conjunction with The Hollister Group, today launched the first market indicator to collect critical market, housing and demographic data that can be used to track and project the market for reverse mortgages.

Washington, D.C.-The Board of Directors of the National Reverse Mortgage Lenders Association has elected Joe DeMarkey of BNY Mortgage Company and Bart Johnson of Financial Freedom as Co-Chairs of the Association for the next 12 months.

Washington, D.C.— Fueled by rising home values, larger sales forces, and increased consumer acceptance, the number of federally insured reverse mortgages made in the U.S. in 2006 grew by 77 percent, according to the National Reverse Mortgage Lenders Association.

WASHINGTON, DC – The U.S. House of Representatives passed legislation last night that eliminates the cap on the number of reverse mortgages that can be insured by the Department of Housing and Urban Development, the National Reverse Mortgage Lenders Association announced today. (Published 12/15/05

WASHINGTON, DC – Older homeowners will be able to convert a greater portion of the equity in their homes into tax-free income using a reverse mortgage starting next year because of new, higher loan limits, the National Reverse Mortgage Lenders Association announced today. (12/7/05)

Washington, DC – In response to rapid growth in the number of seniors applying for reverse mortgages, the U.S. Department of Housing and Urban Development issued a notice last week expanding the network of counselors authorized to provide mandatory face-to-face and/or telephone counseling nationally. (Published 11/10/05)

Washington, DC – To help commemorate National Aging In Place Week, the National Reverse Mortgage Lenders Association is releasing a new series of consumer booklets that explain how reverse mortgages can help seniors live at home longer by providing financial support to better cope with existing or future healthcare needs. (Published 11/1/05)

Washington, D.C.-For a fifth consecutive year, lenders originated a record number of federally insured reverse mortgages, and the volume of borrower applications being processed is even higher, according to the National Reverse Mortgage Lenders Association. (Published 10/28/05)

Washington, D.C.— Reverse mortgage lenders, with approval from the U.S. Department of Housing and Urban Development, have implemented a new consumer protection called the "principal limit lock" which freezes the “expected interest rate” on federally-insured Home Equity Conversion Mortgage (HECM) reverse mortgages for a period up to 60 days from the date of application. (Published 10/3/05)

Washington, D.C.— As record numbers of senior homeowners use reverse mortgages as part of their retirement financial management, the National Reverse Mortgage Lenders Association is pleased to explain the numerous safeguards built into today’s reverse mortgage programs. (Published 2/21/05)

WASHINGTON, D.C. – Seniors wishing to take advantage of today's low interest rates by refinancing a reverse mortgage will pay less fees, and receive other consumer protections, according to a new regulation issued by the U.S. Department of Housing and Urban Development, the National Reverse Mortgage Lenders Association announced today. (Published 3/29/04)

Washington, D.C.—The National Council on the Aging (NCOA), with the support of the National Reverse Mortgage Lenders Association, has published a report showing that reverse mortgages can help an estimated 13.2 million elderly homeowners pay for long-term care, allowing many to remain independent in their homes longer. (Published 2/10/05)