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
Legislation
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
NRMLA Meets NY Policymakers to Discuss Reverse Mortgages and Co-Ops
Executive Vice President Steve Irwin and NRMLA’s outside counsel Jim Milano traveled to Albany, NY this week to meet with assembly members and their staffs and stakeholders from … more NRMLA Meets NY Policymakers to Discuss Reverse Mortgages and Co-Ops
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
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
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
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
HUD Secretary Carson Testifies Before Senate Appropriators
Testifying before the Senate Appropriations Committee this week, Secretary of Housing and Urban Development Ben Carson shared his Fiscal Year 2019 budgetary goals and priorities for HUD and … more HUD Secretary Carson Testifies Before Senate Appropriators