Reverse Mortgage Must-Reads: CFPB Open for Comments, Shutdown Averted

Reverse mortgage professionals dodged a bullet as the second government shutdown of 2018 lasted less than six hours, avoiding potential delays in Department of Housing and Urban Development processing.

But that wasn’t all that happened in the world of Home Equity Conversion Mortgages last week. Catch up on what you missed with our list of must-read stories from the past seven days.

How to Educate Financial Advisors About the New Reverse Mortgage — RMD spoke with some of the foremost advocates of reverse mortgages in the financial advisory community, seeking ways that originators can frame the products amid the recent rule changes.

AAG Expands Operations, Formally Launches Forward Mortgage Business — After months of rumors, American Advisors Group officially announced its entry into the forward-mortgage business, as it attempts to become a more “product agnostic” company.

Reverse Mortgage Professionals Play FHA Chief for a Day — Since the Federal Housing Administration currently doesn’t have a commissioner, we asked originators what they would do with the keys for a day.

‘Generational Lending’ Takes Focus as Key to Reverse Mortgage Growth — Reporting from ReverseVision’s annual conference in Southern California, Elizabeth Ecker provides an update on the future of “generational lending” in the forward and reverse mortgage space.

Tell the CFPB What You Really Think

The Consumer Financial Protection Bureau continued its push to entertain more industry input this week, issuing a third call for comments  in less than a month. This time, the CFPB wants financial professionals and the general public to weigh on the bureau’s enforcement processes.

“This [call] will provide an opportunity for the public to submit feedback and suggest ways to improve outcomes for both consumers and covered entities,” the CFPB said in announcing the initiative.

The bureau will begin accepting comments on February 12.

New Yorker Explores CFPB Changes

Speaking of the CFPB, the New Yorker provides a solid recap of what’s been happening at the bureau under acting director Mick Mulvaney, The new boss has raised some eyebrows in recent weeks for soft-pedaling an investigation into the Equifax data breach and initiating a review of rules regarding payday lenders.

Written by Alex Spanko

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