The most comprehensive changes to private retirement plans in more than a decade are gaining momentum in Congress, according to media reports. The House Ways and Means Committee … more House Committee Unanimously Passes Landmark Retirement Legislation
Federal
Increased Oversight of HECM Cited in President’s Budget
The Department of Housing and Urban Development’s Office of the Inspector General will expand its oversight of the HECM program, ensuring it does not pose undue risk to … more Increased Oversight of HECM Cited in President’s Budget
Congressional Hearings Address Retirement Security Challenges
This week, the House Ways and Means Committee and the Senate Special Committee on Aging held public hearings to discuss solutions for improving America’s retirement system. Among the … more Congressional Hearings Address Retirement Security Challenges
Senate Confirms Kathleen Kraninger As BCFP Director
By a vote of 50 to 49, the Senate this week confirmed Kathleen Kraninger as the next director of the Bureau of Consumer Financial Protection. Kraninger replaces Mick … more Senate Confirms Kathleen Kraninger As BCFP Director
Congress Passes Short-Term Spending Measure
This week, Congress unanimously approved a continuing resolution (CR) that keeps the federal government running through December 21, 2018. President Donald Trump is expected to sign the CR … more Congress Passes Short-Term Spending Measure
FHA Publishes FAQ For HECM Collateral Assessment Policies
In response to questions raised by NRMLA and its members, the Federal Housing Administration published a list of Frequently Asked Questions to help clarify its new collateral risk … more FHA Publishes FAQ For HECM Collateral Assessment Policies
Senate Banking Committee Confirms BCFP and Ginnie Mae Nominees
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
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
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