The Consumer Financial Protection Bureau (CFPB) issued a procedural rule to update how the agency designates a nonbank for supervision. The updates will streamline the designation proceedings for … more CFPB Updates Supervision Designation Procedures
Industry News & Reference
Americans More Worried About Running Out of Money Than Death
Two in three (63%) Americans worry more about running out of money than death, up from 57% in 2022. Concerns about inflation, Social Security, and taxes contribute to … more Americans More Worried About Running Out of Money Than Death
HUD Announces Next HECM Note Sale
The Department of Housing and Urban Development published a notice in the Federal Register that announced its intention to sell 1,265 HECM notes secured by vacant properties with … more HUD Announces Next HECM Note Sale
GNMA Expands ESG Disclosures to HMBS Pools
Ginnie Mae announced an additional expansion of its Low-to-Moderate Income (LMI) disclosure initiative to include pool-level data for its HECM Mortgage-Backed Securities (HMBS) program. Ginnie Mae’s new HMBS … more GNMA Expands ESG Disclosures to HMBS Pools
New Magic Number for Retirement is $1.46 Million
Americans’ “magic number” for retirement surged to an all-time high – rising much faster than the rate of inflation while swelling more than 50% since the onset of … more New Magic Number for Retirement is $1.46 Million
Tracking State Legislation
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CFPB: Reverse Mortgages Represent Two Percent of Complaints
Out of 27,99 mortgage-related complaints submitted to the Consumer Financial Protection Bureau in 2023, approximately 400, or two percent, were brought against reverse mortgage companies, according to the … more CFPB: Reverse Mortgages Represent Two Percent of Complaints
Face-to-Face Counseling Resumes in MA…For Now
As of Monday, April 1, face-to-face counseling has resumed in Massachusetts. A moratorium that was in place for the past year that allowed for telephone and video counseling … more Face-to-Face Counseling Resumes in MA…For Now
HUD Solicits Feedback on HECM Application and Origination Documents
The Department of Housing and Urban Development published a notice in the Federal Register seeking feedback on certain documents that must be used in connection with HECM applications … more HUD Solicits Feedback on HECM Application and Origination Documents
Blackrock CEO Highlights Global Retirement Crisis
Larry Fink, whose company manages $10 trillion in assets (half of which are for retirement), challenged government and business leaders to come together to fix a looming retirement … more Blackrock CEO Highlights Global Retirement Crisis
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