The Senate Banking Committee this week approved the nominations of Kathleen Laura Kraninger to be the next director of the Bureau of Consumer Financial Protection and Michael R. … more Senate Banking Committee Confirms BCFP and Ginnie Mae Nominees
Legislation
Senate Holds Nomination Hearings for Ginnie Mae and BCFP Candidates
The Senate Banking Committee conducted separate hearings this past week for Kathleen Laura Kraninger and Michael R. Bright, President Donald Trump’s nominees to run the Bureau of Consumer Financial Protection and Ginnie … more Senate Holds Nomination Hearings for Ginnie Mae and BCFP Candidates
Tracking State Legislation
In addition to monitoring legislation proposed in the U.S. Congress that could impact reverse mortgage lenders and servicers, NRMLA — through its State and Local Issues Committee — … more Tracking State Legislation
An Overview of Reverse Mortgage History
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Section 255, National Housing Act
Editor’s note: The Home Equity Conversion Mortgage (HECM) program was authorized by Congress under Section 255 of the National Housing Act. This page displays the HECM statute in … more Section 255, National Housing Act
Congressional Oversight
The following committees have jurisdiction over reverse mortgages and the Home Equity Conversion Mortgage (HECM) program. U.S Senate Committee on Banking, Housing, and Urban Affairs Chairman Mike Crapo … more Congressional Oversight
Bill Search: Reverse Mortgages
NRMLA members can track reverse mortgage legislation introduced by lawmakers in the United States House of Representatives or Senate during the 115th Congress (2017-2018) by visiting Congress.org. To learn … more Bill Search: Reverse Mortgages
HUD Secretary: HECM Has Made “Excellent Progress;” Condo Rule Coming
Testifying before the Financial Services Committee this week, Secretary of Housing and Urban Development Ben Carson expressed support for the Federal Housing Administration and its new commissioner, noted … more HUD Secretary: HECM Has Made “Excellent Progress;” Condo Rule Coming
President Taps Kathleen Kraninger To Lead BCFP
President Trump this week nominated White House budget official Kathy Kraninger to be the new permanent director of the Bureau of Consumer Financial Protection (BCFP). Kraninger would replace … more President Taps Kathleen Kraninger To Lead BCFP
CT Governor Signs Reverse Mortgage Counseling Bill
Connecticut Governor Dannel Patrick Malloy signed reverse mortgage counseling legislation into law this week that emulates existing rules mandated under the federal Home Equity Conversion Mortgage program. The … more CT Governor Signs Reverse Mortgage Counseling Bill