Reverse Mortgage Magazine, July-August 2017
Thirty years have passed since Wisconsin Democratic Senator William Proxmire sponsored the Housing & Community Development Act of 1987, which led to the creation of the Home Equity Conversion Mortgage demonstration program.
Significant anniversaries are always a time for reflection and so we thought the timing was appropriate to look at how we got to where we are and where we might go. Staff reporter Mark Olshaker interviewed a dozen industry leaders who either played a significant role in the history of the HECM program or are currently guiding the largest organizations.
Become a Certified Reverse Mortgage Professional
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.
Industry & Member News
Employer Retirement Contributions Fall
July 21, 2017
Bloomberg reported this week that U.S. employers cut their contributions to workers’ retirements by a quarter from 2001 to 2015, according to a report by the consulting firm Willis Towers Watson. The biggest driver: the decline of traditional defined-benefit pensions, replaced by stingier, 401(k)-style, defined-contribution plans. Retirement benefits—including employer contributions to pensions, 401(k)s and retiree … more Employer Retirement Contributions Fall
NRMLA Webinar Featured in Squared Away Blog on Home Modifications
July 21, 2017
Published through the Center for Retirement Research at Boston College, today’s Squared Away Blog post addressed the growing desire of aging Americans to upgrade their home environments so that they can age in place – and how a reverse mortgage can pay for these renovations. In her article Retrofitting Your Home for Old Age, Squared … more NRMLA Webinar Featured in Squared Away Blog on Home Modifications
HUD Secretary Focuses on HECM in Keynote Speech
July 21, 2017
Speaking before LeadingAge Florida, one of the state’s oldest and largest senior advocacy groups this week, Housing Secretary Ben Carson underscored his commitment to supporting HUD programs, such as the Home Equity Conversion Mortgage, that promote healthy living and financial independence. He acknowledged the growing popularity of reverse mortgages but also the challenges caused by … more HUD Secretary Focuses on HECM in Keynote Speech
CFPB Updates HMDA Loan Scenarios Guide
July 21, 2017
The Consumer Financial Protection Bureau posted an updated version of its HMDA Loan Scenarios guide that financial institutions can use as an illustrative aid to help them file Home Mortgage Disclosure Act (HMDA) data. Last week, the CFPB updated its Resources for HMDA Filers webpage by posting new versions of the Technology Preview, Filing Instructions Guide for data … more CFPB Updates HMDA Loan Scenarios Guide