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.
James McCarthy, who helps manage the Consumer Financial Protection Bureau’s complaint resolution portal, conducted a presentation for the Board of Directors last week.
NRMLA submitted two comment letters to the CFPB that focus on proposed changes to counseling and disclosure requirements mandated in the Dodd-Frank Act.
NRMLA submitted comments to the CFPB in response to a Federal Register notice published over the summer that asked a series of questions about real-life borrower experiences.
NRMLA this week submitted comments to the Conference of State Bank Supervisors proposing amendments to the reverse mortgage exam guidelines first published in 2009.
The CFPB study is a well-written, comprehensive analysis of the reverse mortgage program, but contains nothing new that NRMLA or the industry is not already aware of, or working to improve.