The U. S. Government Accountability Office (GAO) released a report on June 29 titled, "Reverse Mortgages Product Complexity and Consumer Protection Issues Underscore Need for Improved Controls over Counseling for Borrowers" with recommendations to address potentially misleading marketing of Home Equity Comversion Mortgages (HECMs) and improve the U.S. Department of Housing & Urban Development’s (HUD’s) oversight of HECM counselors.Read more
More state and national mortgage news and mortgage press releases:
- ReverseLinks: An roundup of July 2009′s links to reverse mortgage articles and reports A HUD news release, dated July 15: David Stevens...
- ReverseLinks: A roundup of links to reverse mortgage articles and reports (February 2010) ► On Feb. 3rd the Mortgage News Daily posted a...
- ReverseLinks: A roundup of links to reverse mortgage articles and reports (September 2009) ► The Wall Street Journal posted on Aug. 27: Mortgage...
- Announced plans to eliminate FHA oversight of mortgage brokers originating FHA-insured mortgages We write this as professionals who have had numerous...
- Generation Mortgage to offer reverse education on HECM for purchase Generation Mortgage Company has created a continuing education class...
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