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.
A congressionally-mandated study of reverse mortgages published this week by the CFPB concludes that elderly consumers are not getting enough information to help them make well-informed decisions and that better disclosures and better counseling is needed.
Borrow with Confidence is an ongoing campaign to educate consumers about reverse mortgages and reassure them that when they work with a NRMLA member, they are working with someone they can trust.
The Center for Retirement Research published a briefing paper that provides an abridged, non-technical version of an earlier study entitled, How Important is Asset Allocation to Financial Security in Retirement?
The Center for Retirement Research published a new study, which concludes that financial planners have mistakenly focused on asset allocation, rather than the broader range of retirement options, such as reverse mortgages.
The Consumer Financial Protection Bureau, this week, issued Bulletin 2012-02 in response to several inquiries regarding the new Regulation Z rules on loan originator compensation.
The FTC issued a comprehensive new advertising and recordkeeping regulation with the potential to greatly affect the mortgage origination and servicing industry, as well as the greater real estate industry that provides complementary services to the mortgage industry.
Ginnie Mae reminds Issuers that they must purchase HECM loans out of HMBS loan pools when the outstanding principal balance reaches or exceeds 98% of the maximum claim amount.
Effective immediately, Ginnie Mae is increasing the base net worth requirement for HECM Mortgage-Backed Securities (HMBS) issuers from the current $1 million base net worth requirement to $5 million.