reverse mortgage ethics and regulate: Ethical Practices are the Backbone of Any Business - 09/02/13 03:53 AM
Ethical Practices are the Backbone of Any Business
More rules and regulations are coming into effect this year, this time via the Consumer Financial Protection Bureau, effectively creating a safer, more ethical atmopshere for consumers.
The new rules won't effect reverse mortgages directly, according to an article published in Reverse Mortgage Daily, and will be focused on retail loan originators instead of wholesale loan originators.
A recent National Reverse Mortgage Lenders Association webinar, however, noted that loan originator compensation will affect how loan transactions are done, especially among fixed rate reverse mortgages. Fixed rate HECM loans have become a minority though, since … (12 comments)