HMBS payoffs continued in April, as the refinancing wave diminished slightly but refused to ebb. Instead, April payoffs totaled $1.3 billion, just short of March 2022’s record $1.5 … more HMBS April 2022 Part II: April May but May June?
In its latest Supervisory Highlights report, the Consumer Financial Protection Bureau emphasized violations involving Loan Officer Compensation and Changed Circumstances that NRMLA felt should be shared with the membership. The … more CFPB Report Highlights Lender Violations
In a recent opinion piece, the editor’s at Bloomberg expressed strong opinions about the shortcomings of America’s retirement system and what Congress needs to do fix these problems. … more Piecemeal Reform Won’t Solve the U.S. Retirement Crisis
To help expand affordable housing opportunities, the Department of Housing and Urban Development is selling 1,450 assigned properties once used as collateral for Home Equity Conversion Mortgages to … more HUD Selling Vacant Properties Once Backed by HECMs
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Out of 32,000 mortgage-related complaints submitted to the Consumer Financial Protection Bureau in 2021, only 300, or one percent, were brought against reverse mortgage companies, according to the … more CFPB: Reverse Mortgage Complaints Less Than One Percent
A selection of industry-related links
Testifying before the Senate Banking Committee, Shannon Guzman (pictured), Senior Strategic Policy Advisor at AARP Public Policy Institute, recommended that the Department of Housing and Urban Development improve … more AARP to Congress: HUD Should Require More Generous Loss Mitigation Options to Help HECM Borrowers
While the strategic use of home equity can provide financial relief for retirees, a new study co-authored by Ohio State University researcher Stephanie Moulton finds that it is also … more Using Home Equity Improves Retiree Health
The Biden Administration released a Fiscal Year 2023 proposed budget this week that predicted strong economic numbers for the Home Equity Conversion Mortgage program during the next federal … more White House Budget Forecasts Strong HECM Performance