Federal regulators issued the final Risk Retention Rule as required by the Dodd-Frank Act.
NRMLA submitted comments last week to the Department of Housing and Urban Development supporting the Federal Housing Administration’s proposed Loan Quality Assurance Methodology.
The Georgia Department of Banking and Finance barred lenders from ever again applying for mortgage banker or mortgage broker licenses. Find out why.
California Gov. Jerry Brown signed a new consumer protection bill that imposes a 7-day “cooling off” period between the time a borrower is counseled and the application begins.
The Center for Retirement Research at Boston College has published a new booklet that explains to aging homeowners how they can use their largest asset to finance their retirement years.
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.