The U.S. Department of Housing and Urban Development will distribute an additional $15 million through its Older Adult Home Modification Program (OAHMP) to local non-profit organizations and state and local … more HUD Announces $15 Million to Help Older Americans Age in Place
Industry News & Reference
FHA Updates HECM Due and Payable Requirements
The Federal Housing Administration changed its requirement for mortgagees to notify a borrower’s estate and heirs that a HECM has become due and payable from within 30 days … more FHA Updates HECM Due and Payable Requirements
FHA Lenders and Mortgagees Need to Apply for Government ID
In accordance with new requirements announced by the General Services Administration (GSA), all entities engaged in or seeking to do business with the federal government, including the Federal … more FHA Lenders and Mortgagees Need to Apply for Government ID
5 Ways the Inflation Reduction Act Impacts Older Americans
It may take a few years, but Medicare recipients will start paying less for some prescription drugs and out-of-pocket costs for medications will be capped annually at $2,000, … more 5 Ways the Inflation Reduction Act Impacts Older Americans
Study: Healthcare Costs Reduce Social Security Benefits By 25%
Researchers at the Center for Retirement Research at Boston College concluded that out-of-pocket (OOP) healthcare costs erode roughly 25% of an average retiree’s Social Security spending power. The … more Study: Healthcare Costs Reduce Social Security Benefits By 25%
NRMLA Submits Comments on Revised Appraisal Validity Period
On behalf of its members, NRMLA submitted comments to the Department of Housing and Urban Development that recommended recent changes to the appraisal validity period apply to HECM … more NRMLA Submits Comments on Revised Appraisal Validity Period
Congress to Debate Retirement Savings Bills
Expanding access to retirement savings accounts remains a hugely popular issue for congressional lawmakers from both parties. When they return from their summer recess in September, lawmakers will … more Congress to Debate Retirement Savings Bills
HECM Cap Language Included In THUD Appropriations Bills
Language that allows the Federal Housing Administration to continue insuring Home Equity Conversion Mortgages was included in a package of six appropriations bills that passed the House of … more HECM Cap Language Included In THUD Appropriations Bills
FHA Extends Appraisal Validity Period
The Federal Housing Administration published Mortgagee Letter (ML) 2022-11, Revised Appraisal Validity Periods., which extends the initial appraisal validity period from 120 days to 180 days and the … more FHA Extends Appraisal Validity Period
Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
While 79% of employed workers are saving for retirement, 39% of them said they tapped their retirement accounts during COVID, including 29% who took a loan and 27% … more Transamerica: 39 Percent of Workers Tapped Retirement Accounts During COVID
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