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CFPB Seeks Input on Reverse Mortgage Disclosures

CFPB Seeks Input on Reverse Mortgage Disclosures

The Consumer Financial Protection Bureau today published a Request for Information in the Federal Register seeking public feedback on the effectiveness of TILA-RESPA Integrated Disclosures (TRID), the right of rescission, and reverse mortgage disclosures.

Why it matters: According to the CFPB, the purpose of the RFI is to gather input from stakeholders on potential regulatory changes that could reduce unnecessary regulatory burdens and promote access to mortgage credit, while remaining consistent with applicable law.

What’s next: NRMLA will convene a working group to review the RFI and develop comments on behalf of the membership. The association plans to submit its response to the CFPB ahead of the August 10, 2026 comment deadline.

Here is a list of reverse-specific questions published in the RFI:

  • Question 19: The CFPB is aware that the reverse mortgage industry faces significant difficulties applying the disclosure requirements of TILA and RESPA to reverse mortgages, in light of those transactions’ unusual terms and features. Would integrated and tailored reverse mortgage disclosures enable consumers to make more informed decisions?
  • Question 20. Would a different set of scenario assumptions in the calculation of total annual loan cost rates in the TALC table give consumers more reasonable and accurate likely cost estimates of reverse mortgages?
  • Question 21. Would a table that demonstrates how the reverse mortgage balance grows over time, using dollar amounts rather than annualized loan cost rates in the current TALC table, help consumers to better understand and evaluate the costs and the benefits of the reverse mortgage? If so, what are the important features of such a chart?
  • Question 22. Would consumers benefit from a tailored disclosure informing consumers about how reverse mortgages work and about terms and risks that are important to consumers when selecting a reverse mortgage, instead of the generic brochures and booklets? If so, please provide any research or analysis of material that would be beneficial.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.