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
Legislation
NRMLA EVP Steve Irwin Testifies on DC Reverse Mortgage Bill
In response to the District of Columbia City Council’s proposed Reverse Mortgage Foreclosure Prevention Act of 2017 (B22-0505), National Reverse Mortgage Lenders Association Executive Vice President offered testimony … more NRMLA EVP Steve Irwin Testifies on DC Reverse Mortgage Bill
Financial Services Committee Chair To Retire
Rep. Jeb Hensarling (R-TX), chairman of the House Financial Services Committee since 2013, announced this week that he will not seek re-election in 2018. “Although service in Congress … more Financial Services Committee Chair To Retire
HUD Secretary Backs Better Forecasting Tools for HECM; Comments on Co-Ops and Recent Reg Changes
Testifying before the House Financial Services Committee this morning, Housing Secretary Ben Carson said he would consider adopting better tools for FHA to assess and manage risk in … more HUD Secretary Backs Better Forecasting Tools for HECM; Comments on Co-Ops and Recent Reg Changes
New Oregon Law Requires Additional Disclosures
By Weiner Brodsky Kider, PC Effective January 1, 2018, Oregon-licensed mortgage lenders and brokers must provide clear and conspicuous summaries of reverse mortgage terms – including costs, repayment … more New Oregon Law Requires Additional Disclosures
Reverse Mortgage Face-to-Face Counseling Legislation Halted in CT
The Connecticut legislature adjourned for the year before lawmakers could pass a bill that would have required the reverse mortgage closing or counseling session be conducted in-person. Under … more Reverse Mortgage Face-to-Face Counseling Legislation Halted in CT
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 … more Proposed Budgetary Impact on Seniors
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 … more Combating Isolation and Loneliness
TN Implements Further Regulations on Authorization Requirements for Reverse Mortgage Lenders
By Weiner Brodsky Kider, PC The Tennessee Home Equity Conversion Mortgage Act (“HECMA”, Tenn. Code Ann. § 47-30-101, et seq.) has and continues to require mortgage lenders that … more TN Implements Further Regulations on Authorization Requirements for Reverse Mortgage Lenders
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 … more Mnuchin’s OneWest Tenure Questioned During Confirmation Hearing