Items Tagged with 'NRMLA'

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  • Who’s the average reverse mortgage borrower?

    Data sheds light on who takes a HECM
    No longer a loan of last resort, reverse mortgages are increasingly considered a useful tool for retirement income planning. Recent data from the National Reverse Mortgage Lenders Association paints a picture of who takes a HECM.
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  • NRMLA News: Misinformation Spreads Virally

    On the Docket The misinformation spreads virally. A consumer advocate hears a complaint from a disgruntled reverse mortgage borrower. The consumer advocate is interviewed by a CFPB staffer for a reverse mortgage report and repeats the complaint, which has now become an anecdote. The CFPB, trying to deliver a report without compiling any data, draws conclusions from the anecdote. A New York Times reporter picks up the conclusion based on the anecdote and reports it as fact. (After all, it came from the CFPB!) Reporters in Jacksonville and Houston repeat the conclusion. (After all, it was in The It helps.
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  • NRMLA News: It’s Sometimes Fair Weather

    So here we are, 585 reverse mortgage professionals heading to San Antonio to thoroughly discuss all aspects of our business at NRMLA’s three-day Annual Meeting & Expo. And we all wake up Monday morning to get gobsmacked by the following headline in The New York Times (on the front page, no less): "Loan Lifeline to Retirees Is Taking Its Toll: Reverse Mortgages Costing Some Their Homes."In the story, financial reporter Jessica Silver-Greenberg, a rookie on reverse mortgages as far as we know, identifies a list of issues with reverse mortgages. And here’s the Were two times vigor canadian pharmacy 24
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  • NRMLA News: Borrower Interviews Provide Evidence-Based Response to CFPB Questions

    On the Docket Seniors are deliberate and careful when making decisions about reverse mortgages. They seek advice from trusted advisors and they primarily use the proceeds from their reverse mortgages to age in place, according to a new survey of 501 reverse mortgage borrowers released by NRMLA in early September.The survey was commissioned specifically in response to the CFPB’s Notice and Request for Information published in the Federal Register on July 2, 2012. To obtain evidence-based answers that reflect the real-life experiences of reverse mortgage borrowers, NRMLA retained ORC International of Princeton, New Jersey, one of the oldest, most established
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  • NRMLA News: CFPB Response, Roundup in San Antonio, Model Disclosures

    On the Docket You might think the punishing summer heat would slow things down in Washington, but the release of the CFPB report June 28 and planning for our Annual Meeting & Expo in October have evaporated that notion. The report included a request for answers to a series of questions about factors influencing consumer decisions and long-term outcomes for borrowers. At NRMLA, we view this as an opportunity for the industry to have a voice in what is yet to come from the bureau. And so, on a weekly basis, we’ve been assembling a large cross section of board
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  • Hot Seat: Marty Bell

    From his most embarrassing moment to his thoughts about the reverse space, we get the personal and professional facts from Marty Bell, SVP of NRMLA, in our monthly edition of The Hot Seat. My parents taught me humor and kindness. You can't always be your brother’s keeper. When I was a kid I refereed Peter Bell’s basketball games. I didn’t want him to go home sad, so if he didn’t score, I put him on the foul line a lot near the end. When I was younger I wanted to be taller. I'll never forget Sly and the Family Stone
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