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 program that has helped more than a million senior homeowners supplement retirement savings and age in place. Language to permanently eliminate the cap on the number of HECM loans that can be insured by FHA is a welcome signal of President Trump’s and HUD Secretary Carson’s long-term commitment to sustaining the HECM program.
“NRMLA will continue to study the details of the budget request to fully understand how the provisions would impact the HECM program if it were to be approved and enacted.”
About the National Reverse Mortgage Lenders Association
The National Reverse Mortgage Lenders Association (NRMLA) is the national voice for the industry and represents the professionals responsible for more than 90 percent of reverse mortgage transactions in the United States. All NRMLA member companies commit themselves to a Code of Ethics & Professional Responsibility. Learn more at www.nrmlaonline.org and NRMLA’s consumer education website www.reversemortgage.org.
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