The most important consumer protection built into the reverse mortgage program is the requirement that a prospective borrower must first meet with an exam-qualified, independent third-party counselor approved by … more Complying with FHA’s HECM Counseling Guidelines: Frequently Asked Questions
The following section lists the primary regulations pertaining to the FHA’s Home Equity Conversion Mortgage Program, used by compliance, underwriting and servicing staff.
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
With interest rates at near record lows, NRMLA felt it was important to highlight refinance guidance from Mortgagee Letter 2009-21, which addresses anti-churning disclosures and counseling requirements. … more Compliance Corner: Refinance Disclosure and Counseling Guidelines
Today, the Massachusetts Division of Banks published guidance on reverse mortgage counseling requirements during the COVID-19 emergency. Massachusetts Governor Charlie Baker signed a bill (HB4647) into law last … more Breaking News-MA Division of Banks Issues COVID-19 Counseling Guidance
Lawmakers in Massachusetts are considering a housing security bill (S. 2621) that protects renters and homeowners from eviction and foreclosure during the COVID-19 pandemic, and also permits real-time … more Massachusetts COVID-19 Bill Allows Counseling by Real-Time Video
NRMLA and our Massachusetts members have contacted the Division of Banks and the Executive Office of Elder Affairs and requested temporary relief from in-person reverse mortgage counseling requirements … more Reverse Mortgage Counseling in MA
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During a public event this week commemorating National Homeownership Month and the 50th anniversary of the Department of Housing and Urban Development’s counseling programs, Acting Deputy Secretary/Federal Housing Administration … more FHA Commissioner: 40 Percent of Counseled Seniors Get a HECM
The U.S. Department of Housing and Urban Development this week awarded $47 million in housing counseling grants to non-profit counseling agencies across the country that will be used … more HUD Awards $47 Million In Housing Counseling Grants