Event Focusing on Regulatory and Legislative Issues Facing Reverse Industry

The National Reverse Mortgage Lenders Association is hosting their 2010 Washington, D.C. Policy Conference June 7th through 9th at the Liaison Capitol Hill. The conference is only open to NRMLA members, aiming to provide an in-depth look at regulatory, compliance, and legislative issues concerning the reverse mortgage industry. Attendees will have the opportunity to engage with important regulators and policy makers who shape and affect the industry.

This year’s conference plans to take a closer look at the innovative cross-department strategies of the Obama Administration, focusing on two new programs that will influence the reverse mortgage industry—the White House Middle Class Task Force’s goal to protect retirement security and the Department of Health and Human Services’ priority internal study to keep seniors in their homes for as long as they would like.

“At this conference, we are also taking a longer range view of our industry—looking at the societal changes coming with the burgeoning senior population as well as the Obama Administration’s cross-department initiative,” says Peter Bell, President of the NRMLA. “Along with HUD, FHA, Congressional and bank regulatory representatives, we have speakers from the White House Middle Class Task Force, the Department of Health and Human Services and the National Institute of Health. We hope to provide a comprehensive look at both where we are and where we are going.”

J. Mark Iwry, Senior Advisor to the Secretary of the Treasury and member of the White House Middle Class Task Force, is one of the informative speakers at the upcoming conference. As one of the country’s leading experts on retirement savings, Iwry will aim to paint a picture of what the future will look like for the reverse mortgage industry.

With a presentation entitled “The Buzz on the Hill: Appropriations, MIP &More,” Suzanne Mehlman from the Congressional Budget Office will be speaking on how the programs will be measured.

From the Department of Housing and Urban Development comes Michael Stolworthy, who will be updating attendees on some of the new major cases being investigated by the HUD Inspector General’s office. Colin Cushman, also from the HUD, will be discussing the financial evaluation of the FHA insurance program.

HUD’s Volky Garcia will be joined by Carole Reynolds, from Federal Trade Commission, to talk about the new rules on advertising that will affect the reverse mortgage industry.
Attendees will also have the opportunity to meet the public relations firms, Golin Harris and Rasky Baerlein, that are conducting the NRMLA’s Public Affairs Campaign. They will lead a discussion regarding why it is important to meet your elected officials and how to go about approaching them.

“People often do not realize how important their voices are in the governmental process,” says Bell. “With the frequent adjustments to the reverse mortgage product, we feel it is essential for our membership to be in the room with the policy and regulation makers, to share ideas, to understand each other better.”

For more information on the 2010 Conference and/or to register for this event, visit the NRMLA website.

Written by Kelly Mellott

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