In comments submitted to the Consumer Financial Protection Bureau this week, NRMLA encouraged the Bureau to clarify that age-targeted advertising is not a fair lending violation under the … more NRMLA: Targeted Advertising Should Not Be a Fair Lending Violation
Resources
FHA Announces 2021 HECM Loan Limit
The U.S. Department of Housing and Urban Development will increase the maximum loan limit for Home Equity Conversion Mortgages from its current level of $765,600 to $822,375 effective … more FHA Announces 2021 HECM Loan Limit
FHA Extends Guidance For Verifying Self-Employment and Rental Income
The Federal Housing Administration extended through December 31 COVID-19 policies for verifying self-employment and rental income. Details were provided in Mortgagee Letter 2020-40 and impact both FHA forward … more FHA Extends Guidance For Verifying Self-Employment and Rental Income
NRMLA Proposes Improvements to HECM Loan Docs
With input from the HUD Issues Committee, NRMLA submitted comments to the Department of Housing and Urban Development this week that recommended the FNMA-1009 be replaced by the … more NRMLA Proposes Improvements to HECM Loan Docs
NRMLA Proposes Improvements to Condo Forms and Policies
With input from the HUD Issues Committee, NRMLA recommended further changes to Forms HUD-9991 and HUD-9992 and that fees charged by condominium associations for completing these forms be … more NRMLA Proposes Improvements to Condo Forms and Policies
FHA Extends Exterior Appraisals
The Department of Housing and Urban Development has just announced the re-extension of exterior-only appraisals for case numbers assigned on or before October 31, 2020. Details were provided … more FHA Extends Exterior Appraisals
Key HECM Regulations and Resource Materials
The following section lists the primary regulations pertaining to the FHA’s Home Equity Conversion Mortgage Program, used by compliance, underwriting and servicing staff.
HUD OIG Issues HECM Fraud Bulletin
Due to the economic fallout from COVID-19, more people may be considering reverse mortgages but as a consequence become targets of fraud schemes related to them, according to … more HUD OIG Issues HECM Fraud Bulletin
HUD Delays Housing Counselor Certification Deadline
The U.S. Department of Housing and Urban Development published an Interim Final Rule that extended to August 1, 2021, the deadline for housing counselors to pass the certification … more HUD Delays Housing Counselor Certification Deadline
NRMLA Submits Comments to CFPB On LIBOR Transition
NRMLA applauds the efforts of the Consumer Financial Protection Bureau to proactively address the sunset of LIBOR and the impact it will have on creditors and consumers, but … more NRMLA Submits Comments to CFPB On LIBOR Transition