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.
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.
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 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.