Homeownership & Foreclosure

Reverse Mortgages

Reverse mortgages are designed to allow older homeowners to access their home equity without the risk of displacement from an unaffordable mortgage. Yet poor oversight of the servicing of these FHA-insured loans has resulted in older homeowners losing their homes to foreclosure at an alarming rate. NCLC promotes policy reforms and supports advocates who represent reverse mortgage borrowers.

Reverse Mortgage Servicing Problems Put Homeowners At Risk

February 6, 2023

Advocates Call On Federal Housing Agency (FHA) and the Consumer Financial Protection Bureau (CFPB) to Prevent Additional Home Losses  WASHINGTON – There are roughly 480,000 reverse mortgages currently outstanding in the United States and this number is expected to grow as baby boomers age. But a new report, Unmet Promises: Reverse Mortgage Servicing Challenges and…

Read More about: Reverse Mortgage Servicing Problems Put Homeowners At Risk
June 4, 2023
October 3, 2022

Recent

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ProPublica: “We Buy Ugly Houses” Company Overhauls Policies in the Wake of ProPublica Investigation

January 24, 2024

NCLC Petition for Reg X Rulemaking on HELOCs, Reverse Mortgages, Language Access, and Manufactured Housing

August 29, 2023

The Wall Street Journal: Zombie Mortgages Could Force Some Homeowners Into Foreclosure

June 4, 2023

NCLC Senior Attorney Sarah Bolling Mancini Appointed to CFPB Consumer Advisory Board

March 1, 2023

Reverse Mortgage Daily: “NCLC reverse mortgage report highlights servicing issues”

February 7, 2023

Unmet Promise: Reverse Mortgage Servicing Challenges and How to Preserve Housing Stability for Older Adults

February 6, 2023

Reverse Mortgage Servicing Problems Put Homeowners At Risk

February 6, 2023

Joint Letter from NCLC and NRMLA to HUD Regarding Reverse Mortgage Foreclosures

September 17, 2022

Letter to FHA Regarding Clarifying the HAF Foreclosure Pause for Reverse Mortgage Borrowers

May 17, 2022

Comments & Letters

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Letter Opposing Inappropriate Use of Congressional Review Act

May 19, 2025

Letter on Concerns Regarding Electronic Delivery of Financial Statements as Default

May 19, 2025

Recommendations for Improving Conn. S.B. 1257, Regarding Home Equity Investment Loans

May 19, 2025

Sign on Letter to House Leadership in Opposition to Provision Preempting State Enforcement of AI Laws

May 19, 2025

Comment to FEMA Review Council on Heirs Property and Extreme Heat

May 15, 2025

Coalition Letter to FHFA, HUD and the U.S. Treasury Department on the Housing Crisis

May 15, 2025

Consortium for Constituents with Disabilities Letter to SNAP Authorizing Committees

May 13, 2025

Letter Opposing Connecticut S 1396 Earned Wage Advances

May 8, 2025

Comment to Department of Education re: Intent to Establish Rulemaking Committee on IDR and PSLF

May 5, 2025

Reports

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Unmet Promise: Reverse Mortgage Servicing Challenges and How to Preserve Housing Stability for Older Adults

February 6, 2023

Issue Briefs

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FAQ: Homeowner Assistance Funds and Reverse Mortgages

March 1, 2022

HUD Should Provide Additional COVID Loss Mitigation Options for HECM Borrowers

August 5, 2021

Using the Homeowner Assistance Fund to Prevent Reverse Mortgage Foreclosures: What Treasury and the States Can Do

April 1, 2021

Assisting Homeowners with Reverse Mortgages after a Natural Disaster: A Guide for Advocates

October 1, 2018

Recommendations to Improve Servicing and Reduce Foreclosures of Federal Reverse Mortgages

Testimony

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Press Releases & News

View All for Press Releases & News
ProPublica: “We Buy Ugly Houses” Company Overhauls Policies in the Wake of ProPublica Investigation

January 24, 2024

The Wall Street Journal: Zombie Mortgages Could Force Some Homeowners Into Foreclosure

June 4, 2023

NCLC Senior Attorney Sarah Bolling Mancini Appointed to CFPB Consumer Advisory Board

March 1, 2023

Reverse Mortgage Daily: “NCLC reverse mortgage report highlights servicing issues”

February 7, 2023

Reverse Mortgage Servicing Problems Put Homeowners At Risk

February 6, 2023

Reverse Mortgage Podcast: NCLC Attorney Sarah Bolling Mancini

March 30, 2022

Advocates Applaud HUD’s Actions to Protect Vulnerable Widows and Widowers and Prevent Avoidable Foreclosures

May 12, 2021

Advocates: HUD Must Do Much More to Protect Older Reverse Mortgage Borrowers in the Coronavirus Epidemic

March 24, 2020

In the Wake of HUD Major Policy Change on Non-Borrowing Spouses, NCLC Attorney to Testify Before U.S. House on Risks to Elders from Reverse Mortgage Abuses

September 24, 2019

From the NCLC Digital Library

Mortgage Lending

NCLC’s treatise on loan origination, preemption, and litigation, with details on reverse mortgages, land installment contracts, HELOCs, home equity sharing, and other non-traditional mortgages.

Read Chapter One

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