CFPB Impact on the Reverse Mortgage Industry

Haydn Richards presented at the American Conference Institute (ACI) 3rd National Summit on Reverse Mortgage Lending. This two day conference took place in Dallas, TX on March 6 and 7, 2014. Richards spoke on recent developments that have significantly changed the dynamics of the reverse mortgage industry: HUD’s issuance of the Mortgagee Letters that impact the Home Equity Conversion Mortgage program, and the Consumer Financial Protection Bureau’s (CFPB) entry into the reverse mortgage space.

Richards participated in a panel discussion – “CFPB Impact on the Reverse Mortgage Industry” – in which he and fellow panelists reviewed the 2010 Federal Reserve Board Reverse Mortgage Proposal, examined the CFPB’s Reverse Mortgage Study and Report of June 2012, and provided insight into the CFPB’s current thinking about new reverse mortgage regulations under Regulation Z and other Enumerated Consumer Laws.