Proposed Budgetary Impact on Seniors

NRMLA has compiled a partial list of news articles that summarize the impact that President Trump’s proposed Fiscal Year 2018 budget will have on elderly Americans, including prospective and current HECM borrowers. Trump’s Budget For Seniors: Bad, But It Could Have Been Worse by Forbes.com contributor Howard Gleckman The best that can be said about … more Proposed Budgetary Impact on Seniors

Administration’s Budget Praises HECM and Proposes End to Cap

Recognizing the significant improvements that have been made to the HECM program that reduce risk to the MMI Fund and ensure responsible lending to aging homeowners, President Trump published a proposed Fiscal Year 2018 budget this week that would permanently remove the cap on the aggregate number of reverse mortgages that FHA can insure. The … more Administration’s Budget Praises HECM and Proposes End to Cap

Combating Isolation and Loneliness

The Senate Select Committee on Aging held a hearing on April 27 that examined the consequences of isolation and loneliness among America’s aging population and explored programs and resources for at-risk adults. “The consequences of isolation and loneliness are severe: negative health outcomes, higher health care costs and even death. The root problem is one … more Combating Isolation and Loneliness

Mnuchin’s OneWest Tenure Questioned During Confirmation Hearing

At his five-hour long confirmation hearing today, Treasury Secretary nominee Steven Mnuchin took questions about his positions on monetary policy, tax reform, foreign investment and economic sanctions, housing finance and the future of the Government Sponsored Enterprises, and on his personal and professional dealings with various companies including OneWest Bank. Mnuchin was asked repeatedly about … more Mnuchin’s OneWest Tenure Questioned During Confirmation Hearing

Government Funding Extended; No Break in FHA Insuring Authority

President Barack Obama signed a Continuing Resolution (HR 5325) into law today that keeps the federal government running through December 9. The Continuing Resolution funds federal agencies, like HUD, and gives FHA the authority to continue insuring Home Equity Conversion Mortgages. The CR was cleared by the House of Representatives on Wednesday night on a … more Government Funding Extended; No Break in FHA Insuring Authority

Senate Unanimously Passes Bipartisan Condo Legislation

The U.S. Senate approved legislation by unanimous consent that is designed to make FHA’s condo recertification process substantially less burdensome. H.R. 3700, the “Housing Opportunity Through Modernization Act,” passed the House of Representatives by a 420-0 vote in February. The legislation now goes to President Obama’s desk for his signature. Under the Act, FHA must: establish … more Senate Unanimously Passes Bipartisan Condo Legislation

Legislative Updates: THUD Appropriations and Transitional Licensing

Thus Appropriations The Appropriations Committee in the House of Representatives passed the Fiscal Year 2017 Transportation, Housing and Urban Development, and Related Agencies (THUD) appropriations bill this week that includes $38.7 billion for HUD programs. The appropriations bill provides $55 million for housing counseling and extends FHA’s authority to continue insuring Home Equity Conversion Mortgages when the … more Legislative Updates: THUD Appropriations and Transitional Licensing

President Renews Older Americans Act

President Obama signed legislation into law this week that reauthorizes the Older Americans Act for three more years, increases funding for senior programs by 6% and allocates more funding to states with growing 60+ populations. Bob Blancato, newly elected chairman of the American Society on Aging (and recent presenter at NRMLA East), wrote an article … more President Renews Older Americans Act