An article in the March issue of the Journal of Financial Planning provides the best argument yet for why retirees should consider using their home equity as a retirement planning tool.
HUD completed modifications to the HERMIT platform to accommodate new premium structures and initial disbursement limits implemented last September.
The CFPB announced it was taking preliminary steps to expand the types of loan data that financial institutions must report under the Home Mortgage Disclosure Act.
The Consumer Financial Protection Bureau, on January 10, published revised examination guidelines for Mortgage Originators and Servicers.
The CFPB has published a regulatory notice, effective January 1, 2014, that clarifies the definition of “amount of credit extended” for purposes of calculating loan originator compensation.
The Florida Housing Finance Corp launched the Elderly Mortgage Assistance Program (ELMORE) to provide financial assistance to delinquent HECM borrowers who need help bringing their property taxes and insurance current.
NRMLA, with input from the Risk and Compliance Committee, submitted a letter to FHA that offers suggestions on improving the agency’s Quality Assurance Process.
NRMLA submitted comments this week to the Consumer Financial Protection Bureau in support of a proposal to exclude reverse mortgage when determining “small servicer” status.
NRMLA submitted two sets of comments to federal regulators last week, one dealing with appraisals for “higher-risk mortgages” and the other with loan officer compensation.
NRMLA submitted comments to the CFPB in response to a proposed rule that implements new servicing guidelines.