June 9, 2015
Tuesday’s Regulatory & Legislative Round-Up
- The Consumer Financial Protection Bureau issued a consumer advisory in the first regulatory action prompted by the results of its reverse mortgage report entitled A Closer Look at Reverse Mortgages. Advertisements often lead retirees to believe that reverse loan offers are part of a government program, do not involve interest and fees and fail to mention or prominently display important details regarding these terms.
- The U.S. Department of Housing and Urban Development (HUD) is seeking comment regarding an expansion of the housing options for Housing Choice Voucher Families. In many regions the rental subsidy is not sufficient to allow renters to live in lower poverty neighborhoods.
- HUD also launched a new website for training housing counseling agencies, with an eye toward improving customer service and counseling skills.
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