CFPB warns consumers about home equity contracts, comparing their features to reverse mortgages
The CFPB compared elements of home equity contract products to reverse mortgages, and said they are residential mortgage loans in an amicus brief.
Regulatory
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CFPB received fewer reverse mortgage complaints in 2024
The share of reverse mortgage complaints to the CFPB last year accounted for roughly 1.4% of the total number of mortgage complaints submitted to the bureau.
What will happen to HMBS 2.0 under Trump’s regulatory freeze?
HMBS 2.0 could make a big difference for reverse mortgage securities issuers, but a lack of concrete information leaves an implementation timeline unclear.
Trump’s executive orders and the policies that could affect housing
What are President Trump’s priorities for housing in his second term? We look at his Day 1 executive orders and other actions for the answer.
Treasury outlines rising cost of homeowners insurance
Homeowners in areas with the highest risk of perils paid 82% more for homeowners insurance than those in ZIP codes with the lowest risks.
Lawmakers, housing groups react to Scott Turner’s HUD confirmation hearing
Lawmakers and housing trade groups reacted to Scott Turner’s confirmation hearing to lead HUD, with many saying they’re poised to work with him on housing issues.
LA mayor issues order to expedite home construction amid wildfires
Los Angeles Mayor Karen Bass issued an executive order late on Monday that aims to speed up the rebuilding process in areas destroyed by the wildfires that have burned thousands of homes in Southern California. The order directs city agencies to expedite the building permitting process in affected areas by having discretionary review procedures waived, with a goal of getting permit approvals within 30 days.
New FHFA final rule seeks to expand liquidity for FHLBank system
The new rule seeks to give more control to the banks over their short-term investments to expand their liquidity.
HUD settles with PHH over alleged mortgage payment fees that violated FHA rules
HUD has settled with PHH over fees the company allegedly attached to mortgage payments. The department called the settlement “historic.”
Rep. Maxine Waters pushes for serious investigation with proposed wildfire bill
Less than 10 days into 2025, California is experiencing a multibillion-dollar wildfire disaster that is further shaking up the state’s already vulnerable insurance coverage.