On June 17, 2021, President Biden signed into law Senate Bill 475 (S. 475) making “Juneteenth” a federal holiday. Because June 19th falls on a Saturday this year, … more Juneteenth Is Now a Federal Holiday
Legislation
MA Lawmakers Approve Telephone/Video Counseling Extension
Massachusetts lawmakers passed legislation (SB 2472) that allows reverse mortgage borrowers to continue being counseled by phone or video through December 15, 2021. During the extension period, … more MA Lawmakers Approve Telephone/Video Counseling Extension
Congress Looking to Make Further Changes to U.S. Retirement System
Less than two years after the Secure Act ushered in significant changes to the nation’s retirement system, more modifications may be on the horizon, according to a CNBC.com … more Congress Looking to Make Further Changes to U.S. Retirement System
NRMLA Urges MA Lawmakers to Pass Counseling Bill
NRMLA submitted a letter to the leadership of the Massachusetts legislature urging lawmakers to expedite the passage of House Bill 1146, which would permanently allow video or telephonic … more NRMLA Urges MA Lawmakers to Pass Counseling Bill
Senate Confirms Todman to Be Deputy HUD Secretary
The Senate approved Adrianne Todman to be Deputy Secretary for Housing and Urban Development. The nomination was approved by voice vote on Thursday evening, June 10. Todman was … more Senate Confirms Todman to Be Deputy HUD Secretary
Senate Testimony: Reverse Mortgages Can Help Improve Retirement Security
Reverse mortgages offer a potentially useful tool to convert illiquid housing wealth into money to live on during retirement, according to congressional testimony provided by Shai Akabas (pictured), … more Senate Testimony: Reverse Mortgages Can Help Improve Retirement Security
White House Budget Forecasts Strong HECM Performance
The Biden Administration released a Fiscal Year 2022 proposed budget late last week that predicted strong economic numbers for the Home Equity Conversion Mortgage program during the next … more White House Budget Forecasts Strong HECM Performance
Tracking State LegislationMembers Only
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State Update: MN Amends Reverse Mortgage Servicing Requirements
Minnesota Governor Tim Walz recently signed into law House File 333 (HF 333), which amends the state’s reverse mortgage loan statute to, among other things, require reverse mortgage … more State Update: MN Amends Reverse Mortgage Servicing Requirements
COVID Relief Bill Includes Funding to Help Delinquent Borrowers
The $1.9 trillion American Rescue Plan that President Biden signed last week contributes just under $10 billion to the Homeowners Assistance Fund that states will use to assist … more COVID Relief Bill Includes Funding to Help Delinquent Borrowers