July-August 2019

Today, more than 30 million families own condominiums. In many of the major metropolitan areas, it is the dominant housing option. While it can be difficult, if not impossible, to get a HECM on a condo if the property isn’t already FHA approved, the burgeoning market for proprietary reverse mortgages creates new opportunities.

Reverse mortgages, whether HECM or proprietary, represents a fraction of the equity release marketplace which staff writer Mark Olshaker explores in his article, “Equity Release Alternatives: Are they competition for reverse mortgages or complementary?” And finally, attorney Sandy Shatz of McGlinchey Stafford, provides valuable guidance for members on complying with California’s Consumer Privacy Act – the most comprehensive consumer privacy law ever enacted at the state level – which takes effect on January 1, 2020.

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