Moving Forward NRMLA Continues Fighting for You Past and Future Initiatives Continually Improve Reverse Mortgages By Steve Irwin, President, NRMLA “The downfall of any leader is when he gets carried away with his own ego.” —Toto Wolff, team principal and CEO, Mercedes-AMG Petronas F1 Team HERE AT NRMLA, we provide our association customers with a turnkey management solution that includes staffing, financial management, strategic communications, educational resources, event management, business networking opportunities and public affairs. We work to advocate on our members’ behalf and on behalf of the senior homeowners our members serve. Through meetings with “both sides of the aisle,” we continue to work with the Senate Appropriations Committee and the House Appropriations Committee to ensure the cap on the allowable number of insured Home Equity Conversion Mortgages (HECMs) continues to be suspended. It remains our goal to get this cap permanently removed, and it is an operating reality that we tackle head-on. NRMLA developed meaningful relationships with the relevant committees in the House and Senate. Through these relationships, NRMLA navigated the successful passage of the Reverse Mortgage Stabilization Act and successfully represented our membership through several Senate and House hearings on reverse mortgages. NRMLA also has successfully managed several initiatives at the state level. As a participant in Consumer Financial Protection Bureau (CFPB) stakeholder meetings, NRMLA advised the CFPB on evaluating its exams, making them relevant to the reverse mortgage space. NRMLA maintains a relationship with the Office of Mortgage Markets and the Office of Older Americans at the CFPB. NRMLA has worked with Ginnie Mae (GNMA) to create relevant file standards for the reverse mortgage space. We continue to engage with GNMA on our members’ behalf to ensure continued liquidity for the reverse mortgage marketplace. We engage with the U.S. Department of Housing and Urban Development (HUD) to ensure a continued Steve Irwin Moving Forward continued on page 6 REVERSE MORTGAGE / MARCH-APR I L 2022 5
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