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A recent CFPB action against a Chicago non-bank lender could potentially impact reverse mortgage advertising. The complaint centered on claims the lender engaged in redlining- a practice in which a lender discourages potential applicants who live in specific disadvantaged or poor neighborhoods from applying.
- NRMLA clarifies the most recent New York state mortgage regulations and their impact on reverse mortgage lenders.
- A preview of this week’s Industry Leader Update which examines wealth inequality and the important role home equity plays.