The latest retirement data from Fidelity Investments found record-high contribution levels, coupled with positive market conditions, pushed average account balances to their highest levels since the fourth quarter … more Fidelity® Q1 2024 Retirement Analysis
Reference Section
ACL Releases 2023 Profile of Older Americans
The Administration for Community Living released its 2023 Profile of Older Americans, illustrating the shifting demographics of Americans 65 and older. In 2022, 31.9 million women and 25.9 … more ACL Releases 2023 Profile of Older Americans
FHA Publishes Cybersecurity Reporting Requirements
As part of its ongoing efforts to protect the integrity of its systems and technology, the Federal Housing Administration published Mortgagee Letter 2024-10 to implement new procedures for … more FHA Publishes Cybersecurity Reporting Requirements
HUD Publishes Updates to HECM Handbook
The Department of Housing and Urban Development published a revised copy of the Single-Family Handbook 4000.1, which includes changes to the HECM section.Here is a link to the … more HUD Publishes Updates to HECM Handbook
Economic Uncertainty Has Changed Retirement Expectations
Sixty-one percent of investors say their expectations for retirement have changed significantly in the last five years, and nearly half say their dreams for retirement have been delayed, … more Economic Uncertainty Has Changed Retirement Expectations
FHA Updates Unique Entity Identifier Requirements
The Federal Housing Administration updated its Unique Entity Identifier (UEI) policy for FHA-approved mortgagees as well as other entities seeking eligibility to conduct FHA business. Details were provided … more FHA Updates Unique Entity Identifier Requirements
Reverse Borrowers to Benefit from FL Tax Law Change
Florida Governor Ron DeSantis signed legislation (House Bill 7073) that amends existing law by basing the state’s documentary stamp tax on the principal limit of a reverse mortgage … more Reverse Borrowers to Benefit from FL Tax Law Change
FHA Disallows Lender-Paid IPCs in H4P Transactions
The Federal Housing Administration announced that it will not allow mortgagees and third-party originators (TPO) to make Interested Party Contributions in HECM for Purchase transactions, nor will it … more FHA Disallows Lender-Paid IPCs in H4P Transactions
Telephone/Video Counseling Made Permanent in MA
Massachusetts Governor Maura Healy signed a Supplemental Budget Bill this week that includes provisions to authorize reverse mortgage counseling via synchronous real-time video conference or telephone on a … more Telephone/Video Counseling Made Permanent in MA
From the Top: Neil Sweren, CRMP, Senior Vice President, Atlantic Coast Mortgage
Neil Sweren, CRMP, got his start in the mortgage business 35 years ago originating private, conventional, and government-insured mortgages. When he was offered the chance to learn about … more From the Top: Neil Sweren, CRMP, Senior Vice President, Atlantic Coast Mortgage
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