In case you missed it…here’s what happened in reverse mortgage news this week:
CFPB Report Sheds Light on Mortgage Servicing Problems—A report from the Consumer Financial Protection Bureau highlighted problems of “unfair and deceptive” mortgage servicing practices uncovered in 2013.
January Reverse Mortgage Endorsements Up 20% to Kick Off 2014—The new year started off on a strong note for reverse mortgage endorsements, which saw volume growth of nearly 20%.
Calif. Lawmaker Reconsiders Reverse Mortgage Protection Bill—A formerly tossed bill that would include a “suitability” checklist for reverse mortgage clients may soon see a revival.
CFPB Says “Yes” to HUD’s E-Signed Mortgage Loans—The ability of lenders to accept electronic signatures on Federal Housing Administration mortgage loans will improve the mortgage closing experience for consumers, says the CFPB.
Philly Enquirer: Reverse Mortgage Requires Research—While a reverse mortgage may appear like a suitable financial tool, an Philly Enquirer article presses its readers to do their research before making any decisions.
Written by Jason Oliva
