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Legislation
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
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
NRMLA Praises Senate Confirmation of Brian Montgomery As Next FHA Commissioner
By a vote of 74 to 23, the United States Senate on Wednesday confirmed Brian Montgomery as the next Assistant Secretary for Housing/Federal Housing Commissioner. “The Senate confirmed … more NRMLA Praises Senate Confirmation of Brian Montgomery As Next FHA Commissioner
In New Op-Ed NRMLA’s CEO Calls for Senate to Confirm FHA Commissioner Nominee
In an op-ed that appeared this week in National Mortgage News, one of the mortgage industry’s premier trade publications, NRMLA President and CEO Peter Bell urged the U.S. … more In New Op-Ed NRMLA’s CEO Calls for Senate to Confirm FHA Commissioner Nominee
New York Law Requires New Pre-Foreclosure Notice for Reverse Mortgages
By Jim Milano, Weiner Brodsky Kider PC On April 12, 2018, the New York legislature enacted and Governor Cuomo signed, Assembly Bill 9508, a budget bill. Obscured in … more New York Law Requires New Pre-Foreclosure Notice for Reverse Mortgages
HUD Committed to Helping HECM Borrowers Who Are Facing Default
The Department of Housing and Urban Development remains committed to operating the HECM program on a fiscally sound basis and to providing greater assistance for reverse mortgage borrowers … more HUD Committed to Helping HECM Borrowers Who Are Facing Default