By Weiner Brodsky Kider and NRMLA staff On April 4, 2023, FHA posted a draft Mortgagee Letter (ML) that would make changes to the HECM Assignment Claim Type 22 submission … more FHA Proposes Changes to HECM Assignment Claims Submission Process
Industry News & Reference
Bill Search: Reverse Mortgages
NRMLA members can track reverse mortgage legislation introduced by lawmakers in the United States House of Representatives or Senate during the 118th Congress (2023-2025) by visiting Congress.org.
AARP Highlights Increasing Cost of Family Caregiving
A new report from AARP estimated the economic value of family caregivers’ unpaid work in 2021 at $600 billion. This figure was based on about 38 million caregivers … more AARP Highlights Increasing Cost of Family Caregiving
Edelman Appointed Single-Family DAS at FHA
Sarah Edelman has joined the Federal Housing Administration as Deputy Assistant Secretary for Single Family Housing after spending the past five years at Fannie Mae as senior director … more Edelman Appointed Single-Family DAS at FHA
Servicing Corner: Does the 95 Percent Rule Apply to Non-Borrowing Co-Owners?
Weekly Report periodically publishes the “Servicing Corner” to educate readers on the most commonly asked questions that loan officers ask about HECM servicing guidelines. NRMLA received the following … more Servicing Corner: Does the 95 Percent Rule Apply to Non-Borrowing Co-Owners?
‘America’s Retirement Score’ Drops to 78
Fidelity Investments® released its latest Retirement Savings Assessment, which revealed that America’s Retirement Score has moved back into the yellow to 78, a five-point decline from an all-time … more ‘America’s Retirement Score’ Drops to 78
Utah Makes Improvements to Reverse Mortgage Law
Utah Governor Spencer Cox signed legislation (HB 94) into law that lowers the minimum borrower age for proprietary reverse mortgage borrowers from 62 to 55 and changes the … more Utah Makes Improvements to Reverse Mortgage Law
White House Budget Forecasts Strong HECM Performance
The Biden Administration released appendices to its Fiscal Year 2024 proposed budget this week that predicted strong economic numbers for the Home Equity Conversion Mortgage program for the … more White House Budget Forecasts Strong HECM Performance
HMBS February 2023 Part II: Waiting For Issuer 43
HMBS payoffs remained low in February, as Mandatory Purchases continued to rise and natural payoffs remained at less than a 7% per annum rate. February payoffs totaled about … more HMBS February 2023 Part II: Waiting For Issuer 43
Census: Disasters Displaced More Than 640K Older Americans in 2022
An estimated 3.4 million adults, including 646,443 individuals aged 65 and older, were forced to evacuate their homes in the past year because of a natural disaster, according … more Census: Disasters Displaced More Than 640K Older Americans in 2022
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