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Reverse Mortgage Magazine, July-August 2016

Reverse Mortgage magazine is the official publication of the National Reverse Mortgage Lenders Association.

Among the top stories in the July-August issue are Reverse Mortgage Mumbo Jumbo: Do We Communicate in a Language that Customers Understand?; Special Section: The Value of Vendors; and My Job Just Got Harder: The New World of HECM Underwriting.

Download the full issue

Reverse Mortgage Magazine’s Reverse Mortgage Terminology Survey

In this month’s issue, RM Magazine Editor Marty Bell asks, “Are we using the best terminology to communicate with our customers? Or does our jargon make reverse mortgages more confusing to the public?” Bell developed a survey that compiles commonly used industry terms and some suggested changes. Complete the survey and send RM Magazine your own ideas that will be shared in a future issue of the magazine.

 

Become a Certified Reverse Mortgage Professional

CRMP

One of our goals as an industry trade association is telling consumers with confidence, you can depend on a NRMLA member. Saying it is one thing; proving it is another. That is why NRMLA created the Certified Reverse Mortgage Professional (CRMP) designation.

In every industry, there are those individuals who strive to excel. They often do so by earning a credential that distinguishes them as being among the most knowledgeable, the most competent and the most ethical and professional.

Learn more

 

Industry & Member News

Making Your Car Safer With a Reverse Mortgage

The last thing our aging parents want to give up is the car keys. According to the Federal Highway Administration, there are well over two million licensed drivers in the United States over the age of 85. With the impending “silver tsunami” as baby boomers hit the age of 65, there will be more elderly drivers … more Making Your Car Safer With a Reverse Mortgage

Senate Unanimously Passes Bipartisan Condo Legislation

The U.S. Senate approved legislation by unanimous consent that is designed to make FHA’s condo recertification process substantially less burdensome. H.R. 3700, the “Housing Opportunity Through Modernization Act,” passed the House of Representatives by a 420-0 vote in February. The legislation now goes to President Obama’s desk for his signature. Under the Act, FHA must: establish … more Senate Unanimously Passes Bipartisan Condo Legislation

HECMs Excluded from PACE Changes

Older homeowners who have Property Assessed Clean Energy (PACE) obligations in place cannot obtain FHA-insured Home Equity Conversion Mortgages, according to new policies announced this week in Mortgagee Letter 2016-11. The changes in ML 2016-11, Property Assessed Clean Energy, apply only to borrowers seeking FHA forward mortgage financing. “Properties with PACE obligations are not eligible … more HECMs Excluded from PACE Changes