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
Resources
Member Spotlight: Lyn Coffin, CRMP, Mortgage Network, Inc.
Early in her career, Lyn Coffin, CRMP, was the closing notary for a real estate law firm, and she loved facilitating paperwork signings. When a loan officer position … more Member Spotlight: Lyn Coffin, CRMP, Mortgage Network, Inc.
Social Security Impostors Take Scams to the Next Level
A new article from AARP highlights how criminals have been phoning people, posing as real Social Security officials and flaunting fake badge numbers, to persuade victims to give … more Social Security Impostors Take Scams to the Next Level
Member Spotlight: Pam and Mac Tennant, CRMPs
Pamela and Mac Tennant, co-founders and owners of Access Reverse Mortgage Corp. of Clearwater, FL, and two of the first CRMPs in the state, have been working together … more Member Spotlight: Pam and Mac Tennant, CRMPs
NRMLA: Targeted Advertising Should Not Be a Fair Lending Violation
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
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.
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