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.

Featured

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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

Reverse Mortgage Podcast: NCLC Attorney Sarah Bolling Mancini

March 30, 2022

FAQ: Homeowner Assistance Funds and Reverse Mortgages

March 1, 2022

Letter to HUD Addressing COVID-Related Issues for HECM Borrowers and Spouses

October 13, 2021

Comments & Letters

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Comments on the USDA Rural Housing Service’s Proposed Rule Regarding Mortgage Recovery Advances

March 28, 2023

Coalition Comments to FDIC Regarding Community Reinvestment Act Examination of First Electronic Bank

March 21, 2023

Comments to HUD in Response to Proposed Rule Entitled Strengthening the Section 184 Indian Home Loan Guarantee Program

March 17, 2023

Coalition Letter to U.S. Department of Education Regarding its Examination of Bundled Services and an Incentive Compensation Loophole

March 16, 2023

Letter Analyzing Nevada Earned Wage Advance Bill

March 16, 2023

Coalition Comments to FDIC Regarding Community Reinvestment Act Examination of Rent-a-Bank FinWise Bank

March 14, 2023

Comments to the Bureau of Prisons’ on its Proposed Rule Regarding the Inmate Financial Responsibility Program

March 13, 2023

Letter urging Government Sponsored Enterprises (GSEs) and the Federal Housing Finance Agency (FHFA) to reform their note sale programs to ensure that borrowers avoid unnecessary foreclosure

March 10, 2023

Comments to HUD Regarding Mortgagee Letter 2023-03

March 7, 2023

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

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

March 1, 2023

Reverse Mortgage Servicing Problems Put Homeowners At Risk

February 6, 2023

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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