Reverse mortgage advocacy group the Coalition for Independent Seniors (CIS) honored Rep. Tom Latham (R-Iowa) for his continued contributions to the HECM program. CIS board members met June 27 on Capitol Hill to present the congressman with the 2012 Friend of CIS award.
“This award commemorates Representative Latham’s support of reverse mortgages for the financial independence of seniors, including constituents in Iowa and around the country,” said CIS Executive Director H. West Richards. “The congressman has demonstrated leadership for the industry and has helped to afford many seniors financial freedom through the use of reverse mortgages by supporting the HECM program within FHA.”
Why do you think the HECM is a valuable program for America’s seniors? The HECM program allows seniors to unlock their own resources, which in turn can help them stay in their homes.
We know you are a proponent of HECM counseling. Can you share your thoughts on why you think it remains an important piece of the HECM? As part of the process, HECM counseling plays a significant role. Because seniors need and deserve to understand all of the facts before they go forward with a HECM instrument, I want to make sure that HUD is properly monitoring the counseling program to determine where the needs are for further improvements.