Hyepin Im is the president and CEO of Korean Churches for Community Development, a national award winning organization. Since 2001, KCCD has led many initiatives and advocated around housing for the pan Asian American community, including educating over 8,000 homebuyers in the greater Los Angeles area and helping them to utilize over $1.4 million in down payment assistance. She’s on twitter at: @hyepin
California took initiative in 2013 and implemented California's Homeowner Bill of Rights, which stops mortgage servicers from engaging in abusive practices that were leading to unnecessary foreclosures on families throughout the state. The problem isn't over though. A new bill that should fix the problem areas is expected to be voted on next Monday.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.