The Federal Housing Administration announced that it will not allow mortgagees and third-party originators (TPO) to make Interested Party Contributions in HECM for Purchase transactions, nor will it … more FHA Disallows Lender-Paid IPCs in H4P Transactions
Industry News & Reference
Telephone/Video Counseling Made Permanent in MA
Massachusetts Governor Maura Healy signed a Supplemental Budget Bill this week that includes provisions to authorize reverse mortgage counseling via synchronous real-time video conference or telephone on a … more Telephone/Video Counseling Made Permanent in MA
CFPB Updates Supervision Designation Procedures
The Consumer Financial Protection Bureau (CFPB) issued a procedural rule to update how the agency designates a nonbank for supervision. The updates will streamline the designation proceedings for … more CFPB Updates Supervision Designation Procedures
Americans More Worried About Running Out of Money Than Death
Two in three (63%) Americans worry more about running out of money than death, up from 57% in 2022. Concerns about inflation, Social Security, and taxes contribute to … more Americans More Worried About Running Out of Money Than Death
Servicing Corner: Who Qualifies As An Eligible Non-Borrowing Spouse?
If you have a client with an underage spouse who’s not on the reverse mortgage, it may still be possible for that person to continue living in the … more Servicing Corner: Who Qualifies As An Eligible Non-Borrowing Spouse?
GNMA Expands ESG Disclosures to HMBS Pools
Ginnie Mae announced an additional expansion of its Low-to-Moderate Income (LMI) disclosure initiative to include pool-level data for its HECM Mortgage-Backed Securities (HMBS) program. Ginnie Mae’s new HMBS … more GNMA Expands ESG Disclosures to HMBS Pools
HUD Solicits Feedback on HECM Application and Origination Documents
The Department of Housing and Urban Development published a notice in the Federal Register seeking feedback on certain documents that must be used in connection with HECM applications … more HUD Solicits Feedback on HECM Application and Origination Documents
Blackrock CEO Highlights Global Retirement Crisis
Larry Fink, whose company manages $10 trillion in assets (half of which are for retirement), challenged government and business leaders to come together to fix a looming retirement … more Blackrock CEO Highlights Global Retirement Crisis
More Counties Saw Population Gains in 2023
Sixty percent (1,876) of U.S. counties gained population from 2022 to 2023, an increase from the 52% of counties (1,649) that experienced population growth between 2021 and 2022, … more More Counties Saw Population Gains in 2023
Preretirement Withdraws Might Explain Retirement Savings Gap
A new study published by the Collaborative for Equitable Retirement Savings finds that Black and Hispanic workers withdraw a larger portion of their account balances before retirement. The … more Preretirement Withdraws Might Explain Retirement Savings Gap
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