Ginnie Mae published guidance for issuers on the transition of all outstanding HECM Mortgage-Backed Securities tied to the London Interbank Offered Rate (LIBOR) to the Secured Overnight Financing … more Ginnie Mae Issues LIBOR Transition Guidance
Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.
Federal Reserve Issues Economic Well-Being Report
The Federal Reserve Board issued its Economic Well-Being of U.S. Households in 2022 report, which examines the financial lives of U.S. adults and their families. The report draws from the … more Federal Reserve Issues Economic Well-Being Report
Quinnipiac Poll Examines Financial Worries and Raising Retirement Age
In a recent Quinnipiac University national poll of adults, food costs ranked as the most pressing financial worry, with 22 percent of Americans naming it as their biggest personal financial … more Quinnipiac Poll Examines Financial Worries and Raising Retirement Age
Pew: Americans’ Lack of Retirement Savings Could Cost Governments $1.3T
As Americans with insufficient retirement savings leave the workforce over the next 20 years, they will severely strain state and federal budgets, resulting in increased public assistance costs, … more Pew: Americans’ Lack of Retirement Savings Could Cost Governments $1.3T
FHA Finalizes Policies to Expedite HECM Assignments
The Federal Housing Administration published Mortgagee Letter 2023-10 to allow for faster payment of funds to mortgagees when they assign a Home Equity Conversion Mortgage to HUD. Effective immediately, ML 2023-10: … more FHA Finalizes Policies to Expedite HECM Assignments
Financial Assessment Is Working (Part VII)
Financial Assessment is still working. Now in its ninth year, FHA’s policy of requiring the financial assessment (FA) of borrowers’ ability to pay has helped cut tax and … more Financial Assessment Is Working (Part VII)
National Retirement Risk Index: Version 2.0
The Center for Retirement Research at Boston College announced that it has modernized its National Retirement Risk Index which measures and analyzes the share of working-age households that … more National Retirement Risk Index: Version 2.0
Social Security Benefits Lose 36 Percent Of Buying Power Since 2000
An analysis of Social Security “cost of living adjustments” (COLAs) compared to the actual costs of goods and services purchased by older Americans found that Social Security benefits … more Social Security Benefits Lose 36 Percent Of Buying Power Since 2000
HUD Selling Vacant Properties Once Backed by HECMs
The Department of Housing and Urban Development announced in the Federal Register this week that it will be selling 1,237 reverse mortgage notes secured by vacant properties with … more HUD Selling Vacant Properties Once Backed by HECMs
HUD Publishes Final Rule On LIBOR Transition
The Department of Housing and Urban Development published Mortgagee Letter 2023-09, which implements the Department’s final rule published on March 1 that governs the transition away from the … more HUD Publishes Final Rule On LIBOR Transition
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