The Consumer Financial Protection Bureau updated its reverse mortgage consumer guide to include information on initial disbursement limit restrictions and non-borrowing spouse protections.
While America struggles to meet the housing needs of its aging population, reverse mortgages remain a valuable source of retirement funding, according to Harvard and the AARP Foundation.
Massachusetts’ Division of Banks confirmed with NRMLA’s outside legal counsel that those seniors who received counseling on or before July 31, do not have to be re-counseled in-person.
As the debate continues over whether working-class Americans are saving sufficiently for retirement there is an equally important question of whether retirees will spend their nest egg in the right way.
Reverse mortgage servicers must be licensed through the Connecticut Banking Commissioner starting January 1, 2015, according to legislation recently signed into law by the governor.
The Fed published the results of a new online survey, which found that 31 percent of non-retired respondents have no retirement savings or pension, including 19 percent of those ages 55 to 64.
Research published by the Center for Retirement Research concluded that the average American household must save roughly 15 percent of its annual income to sustain the same lifestyle in retirement.
Every person should have a rudimentary understanding of the legislative process because the housing bills that eventually become laws impact our lives and our jobs. NRMLA developed a memo to explain the process.
The latest changes to the HECM program seem to be on target to reduce default according to the results of a paper issued in July by a team of researchers at Ohio State University
In response to member inquiries, NRMLA’s General Counsel has prepared a short memorandum that summarizes and explains current applicable rules affecting the ordering and provisions of appraisals.