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Counseling

Guild’s Jim Cory on Bayview deal and reverse mortgage trends

Appraisals, Counseling, Guild Mortgage, HECM, HUD, HWmember, Reverse, Reverse Mortgage Daily /

As consolidation reshapes the mortgage landscape, Bayview Asset Management’s acquisition of Guild Mortgage is emerging as a case study in how to scale without disruption, particularly in the often-misunderstood reverse mortgage space. In a conversation with HousingWire‘s Reverse Mortgage Daily, Jim Cory, managing director of reverse mortgages at Guild Mortgage and co-chair of the board […]

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New Jersey reverse mortgage counseling bill would have ‘chilling effect’ on senior home equity use, NRMLA says

Counseling, HECM, HWmember, Legislation, New Jersey, NRMLA, Reverse, Reverse Mortgage Daily /

The National Reverse Mortgage Lenders Association (NRMLA) this week sent a letter to a New Jersey lawmaker, stating its opposition to a legislative proposal tied to reverse mortgage counseling requirements in the Garden State. The letter is addressed to state Sen. Shirley Turner (D), the sponsor of New Jersey Senate Bill 264, which creates “pre-loan

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HUD reverse mortgage counseling removal risks senior protections

Counseling, HECM, HUD, HWmember, Reverse, Reverse Mortgage Daily /

A proposal to remove housing counseling as a front-end requirement for borrowers seeking government-insured reverse mortgages would eliminate a key consumer protection for seniors, according to Peter M. Mazonas, CEO of NatEquity Inc. Mazonas voiced his concerns in a letter to the U.S. Department of Housing and Urban Development. His comments came in response to

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Will HUD’s new guidelines transform reverse mortgage counseling?

Counseling, Credit.org, HUD, HWmember, Regulatory, Reverse, Reverse Mortgage Daily /

The U.S. Department of Housing and Urban Development (HUD) has issued regulatory guidance in the past year that has had a “significant impact on counseling” for prospective Home Equity Conversion Mortgage (HECM) borrowers. That’s according to Melinda Opperman, the chief external affairs officer for Credit.org, a national nonprofit financial counseling agency. In a recent interview

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HUD publishes new reverse mortgage counseling guidance

Counseling, FHA, HECM, HUD, HWmember, Reverse /

Counseling is an essential part of the Home Equity Conversion Mortgage (HECM) origination process, and the U.S. Department of Housing and Urban Development (HUD) has recently refreshed some of its guidance documents for HECM counselors to offer essential information. HUD this month published a “toolkit” detailing how someone can become a HECM roster counselor. The

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