The Urban Institute published an op-ed this week that proposes policy changes to the Home Equity Conversion Mortgage program to guarantee its long-term financial stability and to avoid … more Urban Institute Offers Solutions For Improving HECM Program
Loan Servicing
Protecting Your Clients From Wire Fraud
Email hacking and wire fraud, with the intent to misdirect wired funds, is a growing concern. With the help of our servicer and title company members, NRMLA has … more Protecting Your Clients From Wire Fraud
HUD Establishes COVID-19 HECM Property Charge Repayment Plan
The Department of Housing and Urban Development established a new repayment plan option for HECM borrowers who continue to suffer financially from the impacts of the COVID-19 pandemic … more HUD Establishes COVID-19 HECM Property Charge Repayment Plan
Compu-Link Officially Takes Over as HUD’s Contract Subservicer
NRMLA was notified this morning by HUD’s Tulsa Servicing Center that Compu-Link has officially taken over as the Department’s contract subservicer for assigned HECM reverse mortgages. Mail is … more Compu-Link Officially Takes Over as HUD’s Contract Subservicer
FHA Extends HECM Loss Mitigation Waivers
To continue assisting HECM borrowers financially impacted by the COVID-19 pandemic, the Federal Housing Administration extended two partial waivers connected to its HECM loss mitigation policies through December … more FHA Extends HECM Loss Mitigation Waivers
HUD Publishes Proposed Rule on LIBOR Transition
The U.S. Department of Housing and Urban Development published a proposed rule this week that would replace the London Interbank Offered Rate (LIBOR) with the Secured Overnight Financing Rate … more HUD Publishes Proposed Rule on LIBOR Transition
Helping Your Clients After a Natural Disaster
If you have clients in Puerto Rico or Florida, please consider sharing the Consumer Financial Protection Bureau’s consumer guide, Your Reverse Mortgage After a Natural Disaster. The resource guide … more Helping Your Clients After a Natural Disaster
FHA Updates HECM Due and Payable Requirements
The Federal Housing Administration changed its requirement for mortgagees to notify a borrower’s estate and heirs that a HECM has become due and payable from within 30 days … more FHA Updates HECM Due and Payable Requirements
Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
While 79% of employed workers are saving for retirement, 39% of them said they tapped their retirement accounts during COVID, including 29% who took a loan and 27% … more Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
FHA Announces More Relief for HECM Borrowers
The Federal Housing Administration issued temporary partial waivers today that will provide mortgagees with expanded flexibility to help senior homeowners with HECMs who continue to experience significant financial … more FHA Announces More Relief for HECM Borrowers
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