Compliance

NRMLA West: HUD Update 

Representatives from HUD offered a strong message to the reverse mortgage industry about diligence to compliance at the NRMLA West conference on Tuesday.  Dan Mooney and Esther Yamashiro from the Santa Ana Home Ownership Center of HUD pointed to common issues seen in reviews of loan case binders and lender practices that impact loan quality  and endorsements, leading to risks to the insurance fund.   Surprisingly, they pointed to case binders missing simple, yet required, disclosures and documents as common omissions.  Most commonly, a signed second trust deed and loan agreement, CAIVERS report and flood certification are found to