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Reverse mortgage lenders will welcome the changes, according to the NRMLA's Bell.
But NRMLA allows room for the ethical cross-sale of financial products, stating that lenders must meet certain disclosure and legal conditions, including that the other financial products and services that it originates or sells "provide a bona fide advantage to the customer."
Whether or not the NRMLA's marketing blitz accelerates it, remodelers can expect growth in demand for universal and aging in place design.
The National Reverse Mortgage Lenders Association (NRMLA), a non-profit trade association based in Washington, DC, recently honored Senior Funding Group executive vice president Dennis Haber with a special achievement award for his efforts to help reduce title charges for reverse mortgage loans in New York State.
"Positive gains in the HECM program are a large part of the reason why the MMI [fund] is sufficiently capitalized at just over the 2 percent ratio mandated by Congress ahead of expectations," said KATHLEEN ZADAREKY, HUD deputy assistant secretary for single-family housing, said at the Washington, D.C.-based National Reverse Mortgage Lenders Association's (NRMLA's) Annual Meeting & Expo in mid-November.
NRMLA announced today that the industry is on pace for a record year, largely exceeding last year's loan volume.
"There is some concern that the changes in the near term will disqualify some prospective borrowers, so we do expect a drop in volume of reverse mortgages," says Peter Bell, president and chief executive of the National Reverse Mortgage Lenders Association (NRMLA), Washington, D.C.
Reverse-mortgage originators are networking with trusted financial advisers, local and national senior organizations, elder law attorneys and others who work with or provide services to seniors--all recommended as "natural allies" by the National Reverse Mortgage Lenders Association (NRMLA), Washington, D.C., using lead-generation sources and, to some degree, advertising to boost production.
He told attendees at the National Reverse Mort-gage Lenders Association's (NRMLA's) Annual Meeting & Expo in Boston last October, "a third of the T&I problem is tax only, a third insurance and a third both.
27, 2011, the National Reverse Mortgage Lenders Association (NRMLA), Washington, D.C., issued its guidance on limited underwriting for property charges, which reviews an applicant's capacity and willingness to pay property charges.
At the National Reverse Mortgage Lenders Association's (NRMLA's) Annual Meeting & Expo in Boston in October, Sue Hunt, director of housing counseling with CredAbility, Atlanta, painted a dire financial picture of the senior citizens her nonprofit credit-counseling firm encounters.
A comment from David Stevens, assistant secretary for housing/federal housing commissioner, HUD, was aimed at loan originators in general, and reverse-mortgage lenders in particular, at the Washington, D.C.-based National Reverse Mortgage Lenders Association's (NRMLA's) 2010 Annual Meeting & Expo in New Orleans in November.
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- NRM wind scale
- NRMA Motoring & Services
- NRMI 2
- NRMI 3