Ginnie Mae published a draft term-sheet for its proposed HECM Mortgage-Backed Securities (HMBS) 2.0 program. Comments are due July 31. Why it matters: HMBS 2.0 seeks to address … more GNMA Seeks Comments on Proposed HMBS 2.0
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CFPB Takes Action Against Former HUD Contract Sub-Servicer
The Consumer Financial Protection Bureau issued an order to permanently ban Sutherland Global, its subsidiaries Sutherland Government Solutions and Sutherland Mortgage Services, and NOVAD Management Consulting from servicing … more CFPB Takes Action Against Former HUD Contract Sub-Servicer
From the Top: Julia Gordon, Assistant Secretary for Housing and Federal Housing Commissioner, HUD
Few people who have served as Assistant Secretary for Housing and Federal Housing Commissioner have had as much of a positive impact on the Home Equity Conversion Mortgage … more From the Top: Julia Gordon, Assistant Secretary for Housing and Federal Housing Commissioner, HUD
Servicing Corner: HECM Borrowers Win With These Changes
With the publication of Mortgagee Letter 2023-23, U.S. Department of Housing and Urban Development (HUD) provided valuable benefits to HECM borrowers and their heirs by streamlining HECM servicing requirements … more Servicing Corner: HECM Borrowers Win With These Changes
Senior Debt Levels Increase Threefold Over Past 35 Years
Adults aged 65 to 74 hold an average of $134,950 in debt, while individuals 75 and older hold an average of $94,620 in debt, according to Federal Reserve … more Senior Debt Levels Increase Threefold Over Past 35 Years
Member Spotlight: Michael Pankow, City First Mortgage Services, Inc.
To help our members get to know one another, NRMLA publishes periodic Member Spotlights featuring professionals from across the reverse mortgage ecosystem. Meet Michael Pankow, National Director of … more Member Spotlight: Michael Pankow, City First Mortgage Services, Inc.
Recent FDIC Focus on RESPA Sect. 8 Broker-Related Violations
NRMLA’s outside counsel, Weiner Brodsky Kider, PC, has published a memorandum for members that summarizes recent enforcement actions taken by the FDIC regarding violations of RESPA Section 8. … more Recent FDIC Focus on RESPA Sect. 8 Broker-Related Violations
FHA and GNMA Discuss Priorities and Achievements
The following article provides highlights from NRMLA’s Eastern Regional Meeting, May 29, in Washington, DC. During an interview with NRMLA Chairman Mike Kent, Deputy Assistant Secretary for Single-Family … more FHA and GNMA Discuss Priorities and Achievements
HHS Delivers Strategic Framework for National Plan on Aging
The U.S. Department of Health and Human Services, through its Administration for Community Living, released a report that lays the groundwork for a coordinated effort to create a … more HHS Delivers Strategic Framework for National Plan on Aging
HMBS May 2024: May The Force Be With You
The HMBS new issue market continued to inch up in May. HECM Mortgage-Backed Securities (“HMBS”) issuance totaled $526 million in May, $23 million higher than April’s $503 million. … more HMBS May 2024: May The Force Be With You
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