Nearly 700K seniors were behind on mortgage last year
The Maryland Daily Record interviewed industry leader Steven Sless who reported that nearly 700,000 seniors were behind on their mortgage payments last year.
Legislation
New York Reverse Lenders Impacted by 11th-hour Regulations
The authority to create regulations leads to 11th-hour changes Last week many reverse mortgage lenders in the Empire State ceased loan originations for both proprietary (private) and federally-insured loans thanks to a slew of new regulations included as part of an Emergency Adoption & Rule Making announced March 5th.
AB2010 – California mandatory face-to-face counseling
Opposing AB2010 (California) If you originate in California you will want to follow this story. The California Senior Legislature has asked for mandatory face to face reverse mortgage counseling. If passed, it would be a substantial change to the way California originators do business in the future. Here is a
