As a key component of the Washington Policy Conference 2011, NRMLA is encouraging those planning on attending the May 10th and 11th event to take the opportunity to meet with their representatives in Washington. NRMLA has highlighted the potential impact and importance of visits from constituents in providing attendees with guidance for arranging and conducting a Congressional Visit while in Washington D.C.
With no specific bills under consideration related to reverse mortgages at this time, NRMLA is suggesting that those who schedule visits focus on ensuring the sustainability of the HECM program, especially in a political environment of cost and deficit cutting.
Accordingly, NRMLA emphasizes three ideas to be communicated in Congressional visits:
- Our consumer research shows a high level of need for reverse mortgages among America’s seniors and high level of satisfaction among those who have reverse mortgages.
- A senior can borrow with confidence from a NRMLA member.
- Home equity—and thus reverse mortgages—are a valuable tool for both America’s seniors and the society for funding retirement.
NRMLA also suggests that participants should not expect that the Congress member or their housing staff member to have a deep knowledge of reverse mortgages and to be prepared to provide information about the importance of the industry. To this end, NRMLA will provide a color folder of materials to leave with the office.
At the conference, highlighted speakers include Vicki Bott, Deputy Assistant Secretary of Single-Family Housing and others from the FHA's HECM management team. They will review current issues and news related to the HECM program including the recent cut in funding for HECM counseling.
Chuck Cross, Vice President of the Mortgage Regulatory Policy at the Conference of State Banking Supervisors will focus the Reverse Mortgage Examination Guidelines implemented last year.
HUD's Deputy Director of Quality Assurance, Volky Garcia and the Carole Reynolds from the Federal Trade Commission (FTC) will review HUD's new Mortgagee Letter (2011-17) and the FTC's proposed rule on advertising restrictions.
The two day annual Policy Conference will be held at the L'Efant Plaza Hotel in Washington D.C.