NRMLA President Steve Irwin submitted a letter to the President of the Massachusetts Senate, state Senator Karen Spilka, urging her to support legislative efforts to allow borrowers to … more NRMLA Urges MA Lawmaker to Support Telephone/Video Counseling
Industry News & Reference
White House Budget Forecasts Strong HECM Performance
The Biden Administration released appendices to its Fiscal Year 2024 proposed budget this week that predicted strong economic numbers for the Home Equity Conversion Mortgage program for the … more White House Budget Forecasts Strong HECM Performance
HMBS February 2023 Part II: Waiting For Issuer 43
HMBS payoffs remained low in February, as Mandatory Purchases continued to rise and natural payoffs remained at less than a 7% per annum rate. February payoffs totaled about … more HMBS February 2023 Part II: Waiting For Issuer 43
Census: Disasters Displaced More Than 640K Older Americans in 2022
An estimated 3.4 million adults, including 646,443 individuals aged 65 and older, were forced to evacuate their homes in the past year because of a natural disaster, according … more Census: Disasters Displaced More Than 640K Older Americans in 2022
HUD Publishes LIBOR Transition Final Rule
The Department of Housing and Urban Development published a final rule today that replaces the London Interbank Offered Rate (LIBOR) as an approved index for new and existing adjustable-rate forward … more HUD Publishes LIBOR Transition Final Rule
Survey: Retirees Lost Ten Percent of Their Savings in 2022
The average retiree has $170,726 saved for retirement, or about ten percent less than the $191,659 they had at the start of 2022, according to a new Clever Real … more Survey: Retirees Lost Ten Percent of Their Savings in 2022
CFPB Publishes RESPA Section 8 Advisory Opinion
By Weiner Brodsky Kider, PC The CFPB published an Advisory Opinion on February 7, 2023, that sets forth the Bureau’s views on how RESPA Section 8 applies to Digital Mortgage … more CFPB Publishes RESPA Section 8 Advisory Opinion
EBRI: Some Couples May Need $383K For Future Healthcare
Couples with high prescription drug expenditures may need to save $383,000 to have a 90 percent chance of having enough money to cover their healthcare costs in retirement, … more EBRI: Some Couples May Need $383K For Future Healthcare
GNMA Reduces Minimum Pool Size For HMBS
Ginnie Mae published APM 23-04, which reduces the minimum HECM Mortgage-Backed Security (HMBS) pool size, from $1 million to $250,000, to minimize the amount of time Issuers must carry … more GNMA Reduces Minimum Pool Size For HMBS
NRMLA Commenting On Appraisal Reconsideration Proposal
On behalf of its members, NRMLA recently submitted comments to the Federal Housing Administration in response to a proposed policy change that’s intended to help people seeking FHA … more NRMLA Commenting On Appraisal Reconsideration Proposal
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