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CFPB

The Trump Era & The HECM

Shannon Hicks
by Shannon Hicks1571
Good News for HECM, Not So Much for Housing Programs President Donald trump embodies the essence of a political wrecking ball in Washington D.C.- a city known to cling tightly to political traditions of governing and supporting long-standing social programs, despite our ballooning deficits. While the President weathers opposition from
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Reverse Mortgage News Roundup

Shannon Hicks
by Shannon Hicks3 694
This Week’s Top Reverse Mortgage Stories 1- CFPB Complaints on the Rise- The CFPB has been busy collecting consumer complaints. The Consumer Financial Protection Bureau reports an increase of 172% increase in reverse mortgage-related complaints since 2012. One could guess that much of this is due to increased consumer awareness of
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Compliance: CFPB Levies Penalties on HECM Lenders

Shannon Hicks
by Shannon Hicks1420
Recent CFPB actions highlight the importance of compliant advertising and sales practices Since the founding of the CFPB (Consumer Financial Protection Bureau) in 2011, lenders have found themselves navigating the ever-changing waters of regulatory compliance. Reverse mortgage lenders  have recently felt the impact of the agency with three lenders paying
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Not Surprised

Shannon Hicks
by Shannon Hicks7 579
The media is inaccurate, misleading and selective in reporting the facts? What’s new. The Consumer Financial Protection Bureau’s recent release of it’s report on reverse mortgage complaints was seized upon by both the media and so-called consumer advocate groups. Surprised? No. Damaging? Possibly.
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7 Questions We All Should Be Asking

Shannon Hicks
by Shannon Hicks11 627
In the interest of best serving the needs of the borrower and protecting ourselves against future legal claims, each of us should reexamine the questions should be asking each potential borrower...
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