Press Releases

Senior households now have more equity in their homes than at any time since mid-2009, according to data released by NRMLA.

Attorney Barry Sacks, who published a research paper on the usage of reverse mortgages as a retirement planning option earlier this year, offers this response to the CFPB Report on reverse mortgages.

In the wake of the CFPB study, NRMLA published an Open Letter to America’s seniors and their families about what steps the industry is taking to make the process of getting a reverse mortgage as easily understandable and transparent as possible.

Data released by NRMLA shows senior home equity increased by $30 billion in the fourth quarter of 2011.

The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) showed signs of stabilizing in the third quarter of 2011, increasing by 1.5 percent to 152.0.

An estimate of senior home equity owned by Americans aged 62 and over stood at $3.14 trillion as of the end of the second quarter in 2011.

An estimate of senior home equity owned by Americans aged 62 and over stood at $3.2 trillion as of the end of the first quarter in 2011, according to results from the recently released NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI).

The NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) estimates the value of home equity held by seniors aged 62 and older to be $3.3 trillion as of the end of 2010.

NCOA is conducting a pilot project in collaboration with HUD and NRMLA to help reverse mortgage borrowers who are struggling to pay property taxes and homeowners insurance.

NRMLA, last week, published independent research showing high levels of satisfaction among seniors with reverse mortgages and equally positive numbers indicating borrowers understood the transaction they were getting into and were never pressured into getting a loan.

Consumers interested in exploring reverse mortgages can now turn to a loan originator who has committed to a new, high standard of training with the implementation of the Certified Reverse Mortgage Professional designation by the National Reverse Mortgage Lenders Association.

The U.S. Department of Housing and Urban Development introduced yesterday a new Home Equity Conversion Mortgage (HECM) product, the HECM Saver, that will make it less expensive for older home owners to borrow against their home equity and meet rapidly escalating living expenses and health care costs.

NRMLA is proud to announce the first class of members who have met all the qualifications and have received their Certified Reverse Mortgage Professional designations.

Today, the National Reverse Mortgage Lenders Association (NRMLA) announced two new Ethics Advisories outlining the expected standards and practices in selling other financial products with reverse mortgages and standards for mortgage lead generation activities.

In its ongoing effort to provide safeguards for seniors interested in reverse mortgages, the National Reverse Mortgage Lenders Association announced today that it soon will be offering a Certified Reverse Mortgage Professional-Loan Originator designation.