Friday Round-Up: Congress Questions HUD on Reverse Mortgage Program

In case you missed it… here’s what happened in reverse mortgage news this week. 

NRMLA held its West Coast regional conference. Outpacing last year’s attendance, the NRMLA conference in Irvine, California drew 260 professionals from across the nation to talk reverse mortgage topics including working with financial planners, private equity investments, the CFPB and more. 

During the conference … NRMLA proposed a borrower assessment financial assessment to HUD. The assessment would identify certain “high risk” borrowers who would have to meet certain criteria or undergo additional requirements before getting a reverse mortgage. 

Reverse mortgages took center stage before Congress Thursday. In a hearing before a House Financial Services subcommittee, members of Congress pressed HUD Deputy Assistant Secretary Charles Coulter on why and how HUD will implement the reverse mortgage change it is seeking. 

Liberty Reverse announced a new financial planning partnership. Through a partnership with Texas Tech University, Liberty is sponsoring a new research study on the use of reverse mortgages as a retirement planning tool. 

… and in hiring news, ReverseVision announced the hire of industry veteran Fresco Ellis as a customer support specialist based in ReverseVision’s new San Diego office. Fresco brings more than 10 years of mortgage lending experience, including roles at One Reverse and Generation Mortgage.

Written by Elizabeth Ecker

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