NRMLA President and CEO Peter Bell issued the following statement today in response to President Donald Trump’s FY19 Budget request for the U.S. Department of Housing and Urban Development, and the Mutual Mortgage Insurance Fund, which includes the HECM program: “The President’s FY19 Budget request reaffirms this administration’s support of the federally insured reverse mortgage … more NRMLA Statement on President Trump’s FY19 Budget Request
The National Reverse Mortgage Lenders Association (NRMLA) is the national voice of the reverse mortgage industry, serving as an educational resource, policy advocate and public affairs center for lenders and related professionals. NRMLA was established in 1997 to enhance the professionalism of the reverse mortgage business.
Our mission is to educate consumers about the pros and cons of reverse mortgages, to train lenders to be sensitive to clients’ needs, to enforce our Code of Ethics and Professional Responsibility, and to advise policy makers on reverse mortgage issues.
For more information about reverse mortgages and to read borrower testimonials, visit NRMLA’s consumer education site www.reversemortgage.org.
Jenny Werwa, Director of Public Relations
NRMLA Press Releases
WASHINGTON (December 21, 2017) – The National Reverse Mortgage Lenders Association today formally announced the members of its 2018 Board of Directors. Directors were elected unanimously during a NRMLA business meeting held in November during the association’s 2017 Annual Meeting in San Francisco. The 2018 Board today re-elected the following slate of officers to serve … more NRMLA Announces 2018 Executive Officers, Board of Directors
WASHINGTON (December 21, 2017) – Housing wealth grew to $6.5 trillion for U.S. homeowners 62 and older in the third quarter of 2017, a 1.9 percent increase of $121 billion in home equity over Q2, reports the National Reverse Mortgage Lenders Association today in a quarterly data release. According to the NRMLA/RiskSpan Reverse Mortgage Market … more Senior Home Equity Grew by $121 Billion in Third Quarter
Today, the U.S. Department of Housing and Urban Development issued its annual report to Congress regarding the financial status of the Federal Housing Administration’s Mutual Mortgage Insurance Fund for Fiscal Year 2017. NRMLA President and CEO Peter Bell issued the following statement in response to the report: “NRMLA shares Secretary Carson’s optimism that recent policy … more NRMLA Statement on FHA FY17 Annual Report to Congress
Senior Home Equity Grew by $150 Billion in Second Quarter WASHINGTON (September 29, 2017) – The National Reverse Mortgage Lenders Association reports today that homeowners age 62 and older saw their home equity increase by a combined 2.4 percent to $6.42 trillion in the second quarter of 2017 from $6.27 trillion in Q1 2017. According … more Housing Wealth for Older Homeowners Reaches $6.42 Trillion in Q2 2017
Today, President Donald Trump announced his intention to nominate Brian Montgomery for the position of Assistant Secretary of the Department of Housing and Urban Development, Federal Housing Commissioner. NRMLA President and CEO Peter Bell issued the following statement congratulating Montgomery: “On behalf of NRMLA, I’m pleased to congratulate Brian Montgomery on his nomination to serve … more NRMLA Statement on Appointment of Brian Montgomery to Head FHA
The Reverse Mortgage Program is a Boon to Seniors As published in the Washington Post on Sept. 11, 2017: Regarding the Sept. 6 editorial “A welcome reversal”: The now 30-year-old federal reverse mortgage program enables older adults to use the equity in their homes to supplement retirement savings and support aging in place. In response … more NRMLA Responds to Washington Post Editorial with Letter to the Editor
LexisNexis Risk Solutions Teams with National Reverse Mortgage Lenders Association to Strengthen Vendor Management for Its Membership ATLANTA, Sept. 6, 2017 — LexisNexis® Risk Solutions and the National Reverse Mortgage Lenders Association (NRMLA) today announced a new agreement to encourage broad participation by NRMLA member companies in the LexisNexis® Mortgage Industry Data Exchange (MIDEX®), the leading industry-contributed repository used … more Reverse Mortgage Trade Association Endorses Tools to Reduce Risk, Defend Against Fraud
WASHINGTON (August 29, 2017) – NRMLA President and CEO Peter Bell issued the following statement in response to the Department of Housing and Urban Development’s publication of Mortgagee Letter 2017-12 to revise initial and annual Mortgage Insurance Premium rates and Principal Limit Factors for all Home Equity Conversion Mortgages: HUD’s announcement today of changes in … more NRMLA President Comments on Changes to FHA Reverse Mortgage Program
The Consumer Financial Protection Bureau published a report on August 24 evaluating the financial impact of using HECM loan proceeds to bridge the gap in income while delaying Social Security benefits until a later age. The CFPB also released a new video and guide explaining reverse mortgages to consumers. After reviewing the findings, NRMLA commented: “Taking a reverse … more NRMLA Statement in Response to CFPB Issue Brief on Social Security Claiming Strategies