The Consumer Financial Protection Bureau is taking legal action against a Maryland-based mortgage company for disseminating deceptive reverse mortgage advertising.
A new term has entered the reverse mortgage vocabulary: Ineligible Non-Borrowing Spouse.
The U.S. Department of Housing and Urban Development today issued new guidelines on non-borrowing spouses and procedures for documenting existing non-HECM liens.
NRMLA submitted comments to federal regulators requesting an exemption for reverse mortgages from a proposed regulation that establishes new flood insurance escrows for “forward” mortgages.
In its 2014 Annual Report to Congress on the Financial Status of the FHA Mutual Mortgage Insurance Fund, HUD reported an impressive two-year gain of $21 billion dollars from a 2013 negative value of $16.3 billion to a 2014 positive value of $4.8 billion.
NRMLA asked the CFPB to delay further implementation of a proposed regulation that would require reverse mortgage companies to submit HMDA data until concerns raised by the industry are addressed.
On September 18, the Supreme Court of Nevada held that Nevada law gives a homeowners’ association (“HOA”) a super-priority lien on an individual homeowner’s property for up to nine months of unpaid HOA dues.
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 Consumer Financial Protection Bureau updated its reverse mortgage consumer guide to include information on initial disbursement limit restrictions and non-borrowing spouse protections.