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
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
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
HUD Secretary Ben Carson delivered remarks today emphasizing the Department’s commitment to senior living programs including the Federal Housing Administration’s Home Equity Conversion Mortgage Program. In his speech, the Secretary outlined three essential HUD initiatives for our nation’s seniors. The second initiative, based on a goal of “good financial health” that enables individuals to use their … more NRMLA Statement on HUD Secretary’s Remarks Regarding the HECM Program
Housing Wealth for Homeowners 62 and Older Grew 3.1% in First Quarter WASHINGTON (June 22, 2017) – The National Reverse Mortgage Lenders Association reports today that homeowners age 62 and older saw their home equity increase by a combined 3.1 percent to $6.3 trillion in the first quarter of 2017 from $6.13 trillion in Q4 … more Rising Home Values Boost Senior Home Equity to $6.3 Trillion in Q1 2017
National Organizations Stand Up to Senior Financial Exploitation on World Elder Abuse Awareness Day WASHINGTON (June 15, 2017) – Today, as part of World Elder Abuse Awareness Day (WEAAD), the National Reverse Mortgage Lenders Association and the National Aging in Place Council launched new consumer webpages to help older adults, and their loved ones, recognize the … more NRMLA and NAIPC Help Seniors Identify, Report Financial Fraud with New Online Resources
Today the White House published the President’s proposed budget for FY 2018, which includes $40.68 billion in gross discretionary funding for the U.S. Department of Housing and Urban Development. HUD also provided a detailed department budget and press release on its website. In response to the budget proposal, NRMLA President and CEO Peter Bell commented … more NRMLA Statement on the President’s FY 2018 Budget Proposal