LET US KNOW WHAT YOU’RE TALKING ABOUT. This forum is the place for readers to share their opinions with colleagues about the direction of the reverse mortgage business and other retirement trends. Submissions should be limited to 100 words or less and submitted to Associate Editor Darryl Hicks at dhicks@dworbell.com. unfeasible to comply with. By making this timing requirement consistent across all books of business, HUD has taken a critical step forward in stemming servicer losses.” The policy became effective at the end of November. HUD Announces $15 Million to Help Older Americans Age in Place The U.S. Department of Housing and Urban Development (HUD) will distribute an additional $15 million through its Older Adult Home Modification Program (OAHMP) to nonprofit organizations and state and local governments to help low-income elderly homeowners pay for home modifications to help them age in place. Eligible organizations will need to apply for the new round of funding through a notice of funding availability. HUD Secretary Marcia Fudge announced the new round of funding in front of a home in Minneapolis, MN, owned for the past 36 years by John and Betty Smith. According to local media coverage of the event, the Smiths received a $2,500 grant to pay for improvements such as new wiring for their flickering lights, updated smoke detectors, functional knobs and pullers on their built-in buffet, a knee scooter walker, and a grab-bar for their bathroom. The work was done by the Twin Cities Habitat for Humanity Inc. The OAHMP program is open to anyone 62 or older who earns less than 80 percent of the area median income. And now you’re up to date. REVERSE MORTGAGE / JANUARY–FEBRUARY 2023 9
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