Seven states – California, Connecticut, Illinois, New Jersey, Maryland, Oregon and Washington – are in various stages of implementing state-sponsored retirement savings plans, according to an Associated Press article published this week. Dozens of small business owners recently gathered in Schaumburg, IL, to learn about the new state-sponsored retirement savings initiative, “Secure Choice IRA,” reported … more States Move to Help Workers Save for Retirement
The Senate Special Committee on Aging invited representatives from the Internal Revenue Service, Federal Trade Commission and a Pennsylvania-based community organization to a public hearing this week to discuss efforts by law enforcement agencies to combat financial fraud and protect older Americans from being scammed. In videotaped testimony before the committee, an 81-year-old man from … more Stopping Senior Scams
NRMLA has developed a “Dear Colleague” letter that members can personalize and distribute to local Realtors encouraging them to register for the National Association of REALTORS® live webcast on Wednesday, February 22, at 2 p.m. ET, that promotes HECM for Purchase. The webcast is free and open to all real estate professionals. More details and … more Something For Your Realtor Friends
The HOPE NOW Alliance and ClearPoint Credit Counseling Solutions are co-sponsoring free educational seminars in Garden Grove, CA on March 11 and Compton, CA on April 27 for families with reverse mortgages to help with concerns and questions. The seminars are the first in a series that will be held in California throughout 2017 by … more California Workshops to Help HECM Borrowers
HMBS issuers began 2017 with a strong month, creating 121 pools in January totaling nearly $869 million. Production of original new loan pools was $525 million, up from December’s $515 million and much higher than January 2016’s total of $469 million. The pools divided into 57 original pools and a record 64 tail pools. The … more Winter’s Tail: Strong HMBS Issuance Ushers in New Year
The following page shows annual HECM production from 1990 to the present by federal fiscal year and by calendar year from 2001 onward.
The Pew Charitable Trusts recently surveyed more than 1,600 small and medium-sized business owners and managers and found that employers most often cited expense, limited administrative resources and lack of employee interest as main reasons for not offering retirement plans, according to an article published by the National Association of Plan Advisors. Nearly a quarter … more Why Don’t (More) Small Businesses Offer Retirement Plans?
The U.S. housing market improved during the third quarter of 2016, led by increases in the homeownership rate, home prices, purchases of new single-family homes and a reduction in seriously delinquent loans, according to the latest National Housing Market Summary published by HUD’s Office of Policy Development & Research. Highlights: Construction starts on single-family homes … more Housing Market Recovery Showed Progress in 3Q
On the first day of President Trump’s term, a regulatory freeze was issued affecting government agencies, including the Department of Housing and Urban Development. On Monday, January 30, the Trump Administration went one step further, issuing an executive order that requires agencies to rescind two regulations for every one new regulation implemented. The Executive Order … more President Initiates Regulatory Freeze
By Weiner Brodsky Kider On January 19, 2017, HUD published in the Federal Register the Final HECM Rule, FHA: Strengthening the Home Equity Conversion Mortgage Program. The Final HECM Rule has an effective date of September 19, 2017, but it is unclear at this point if the new administration’s regulatory freeze memorandum, issued on January … more HUD Publishes HECM Final Rule, but Defers on Rate Cap and H4P Proposals