Louisiana’s legislature recently enacted House Bill 807, which requires mortgage servicers (including reverse mortgage servicers) to become licensed.
Senators Barbara Boxer and Charles Schumer submitted a letter to Housing Secretary Shaun Donovan expressing concerns that servicers are unfairly foreclosing on the heirs of reverse mortgage borrowers.
NRMLA submitted comments to the National Technical Information Service requesting a new certification program that provides limited access to the “Death Master File” be made permanent.
HUD issued new guidelines to protect non-borrowing spouses by allowing them to continue living in their homes after the mortgagor passes away, but only for new case numbers on or after August 4.
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.