Friday Round-Up: The Industry Responds to NY Times, FHA in “Peril”

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

NRMLA responded to a recent NY Times article on reverse mortgages. In an op-ed published this week, NRMLA President and CEO Peter Bell defended the reverse mortgage industry about unfair claims made in a recant NY Times article that portrayed lenders in an unfair light. View the op-ed

Reverse mortgage lenders focused on change. In an editorial about potential changes noted by the Federal Housing Administration, RMD’s John Yedinak writes about what changes could bring and how the industry must adapt. Read John’s editorial

President Obama won his re-election…mortgage bankers said “congrats.” The Mortgage Bankers Association (MBA) congratulated President Obama on his reelection, but implored the President to address the fragile state of housing in his upcoming term.

Policy experts said FHA needs big time help. The Federal Housing Administration is in “peril,” with it capital position highly uncertain according to housing policy experts. The current situation could mean big changes ahead for FHA, said members of a panel discussion hosted by housing public policy organization The Urban Institute on Thursday.

Sandy weighed in on reverse mortgage volume… Sandy’s impact as well as the implementation of new HUD software HERMIT seemed to slow lenders down toward the tail end of October. It may mean an uptick for November volume, many businesses say.  

Written by Elizabeth Ecker

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