What just happened? A look behind the scenes.

Shannon Hicks
Even though HUD telegraphed their intentions to make substantial changes to the reverse mortgage program many today are in a state of shock. Here’s brief look behind the scenes courtesy of NRMLA’s special bulletin. First, our industry has been very active in working with those shaping policies for the HECM

Consumers Union to CFPB: Only as a “Last Resort”

Shannon Hicks
Two consumer groups are urging the CFPB to make drastic changes to the revere mortgage program. Chief among them is a suitability standard and fiduciary duty. In the words of the Consumers Union they recommend that a reverse mortgage be a loan of last resort when there is no other uses cookies to improve user-experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Cookies View Policy