NRMLA Welcomes New Membership Services Coordinator Hannah Sievers NRMLA hired Hannah Sievers as the association’s new membership services coordinator. A transplant from northern New York and a 2020 graduate of Houghton College with a degree in communications, Sievers moved to the District of Columbia after graduation to work alongside the Friends Committee on National Legislation (FCNL). There, Sievers led programming for young adults across the U.S. in advocacy and lobbying education and recruitment as the program assistant for young adult outreach. After FCNL, Sievers moved to Bread for the World as the membership services coordinator and managed its monthly donor program, e-commerce and customer service. Share This Reverse Mortgage Checklist in Spanish NRMLA commemorated #OlderAmericansMonth by creating a Spanish-language version of the consumer guide, Reverse Mortgage Self-Evaluation: A Checklist of Key Considerations. The guide poses seven questions interested consumers should ask themselves and important considerations they should think about before proceeding with a loan application. NRMLA extends its appreciation to Cesar Hernandez of Premier Reverse Mortgage, Atlanta, for translating the guide. Members are invited to share this resource by accessing it at https://bit.ly/3ukJjEr. Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID-19 While 79 percent of employed workers are saving for retirement, 39 percent of them said they tapped their retirement accounts during the COVID-19 pandemic, including 29 percent who took a loan and 27 percent who claimed an early and/or hardship withdrawal. Total savings in household retirement accounts was $65,000 (estimated median). That’s according to a June survey by the Transamerica Institute and its Transamerica Center for Retirement Studies® (TCRS) titled “Emerging From the COVID-19 Pandemic: The Retirement Outlook of the Workforce.” As part of TCRS’ 22nd Annual Retirement Survey, one of the largest and longest-running surveys of its kind, the study delves into the impacts of the pandemic, including the health and financial well-being and retirement outlook of the workforce. Read the full report at https://bit.ly/3dKoltq. New Members Join NRMLA NRMLA welcomes its newest members: • Alkan Mortgage Corp. dba Certified Mortgage Planners, Lake Mary, FL (Lender); • Coast to Coast Title & Escrow Services LLC, Seminole, FL (Associate Member); • Continental Real Estate Services Inc., St. Louis, MO (Associate Member); • Hartford Funding Ltd., Woodbury, NY (Lender); • Summerlin Financial Inc., Lake Havasu City, AZ; and • Stratis Financial Corp., Torrance, CA (Lender). The press is talking about ... Singletary: Reverse Mortgages Help With Home Improvements The Washington Post nationally syndicated personal finance columnist Michelle Singletary recommends to one of her readers that she consider a reverse mortgage to help finance home improvements. After explaining to the 62-year-old homeowner why a home equity line of credit wouldn’t be ideal in today’s rising interest rate environment, Singletary says there may be state and local programs that could assist with home repairs, but then she asked the woman if she had considered a reverse mortgage. Singletary summarizes how a reverse mortgage works, the payment plan options and qualification guidelines. “A reverse mortgage wouldn’t be a bad option,” Singletary says. “She could use the loan to get What’s News continued on page 10 REVERSE MORTGAGE / NOVEMBER–DECEMBER 2022 9
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