In addition to federal regulations, 24 states plus the District of Columbia have their own rules regarding reverse mortgages. State law expands on federal law in many cases.
To become a certified reverse mortgage professional, you'll need to take classes, attend an ethics workshop, apply, pass a background check, and pass an exam.
A proprietary reverse mortgage is a loan that allows seniors to draw on their homes' equity. It isn't federally insured like most reverse mortgages.
Reverse mortgages let older homeowners access cash using the equity in their homes to get a loan. Both federal and state laws require certain disclosures.
Home equity conversion mortgages are the most common reverse mortgages, but proprietary and single-purpose reverse mortgages offer other benefits.
on reverse mortgage transactions.If the Bureau determines through the study required under... issue regulations, orders, or guidance that apply to reverse mortgages prior to the completion...
This comprehensive guide offers a full review of the top 10 reverse mortgage companies in the nation, and provides a buyers guide and other valuable tools.
A reverse mortgage initial principal limit is the amount of money a borrower can receive from the loan. It's usually much lower than the home's value.
The National Reverse Mortgage Lenders Association (NRMLA) is a professional organization that serves the reverse mortgage industry through education and policy advocacy.
There are various rules about how reverse mortgages can be advertised to consumers. In this guide, we’ll review how federal and state laws protect consumers.