The National Housing Coalition Association (NHCA) is a non-profit organization which was created for the purpose of establishing clear guidelines for HECM Reverse Mortgage counselors and HUD counseling organizations. The organization has just hosted its first industry meeting which outlined the purpose and goals of the association.
Priorities for this new association include:
- Establish a code of ethics for the counseling that is given to seniors seeking out reverse mortgage loans. This should help to make reverse mortgages more understandable and safer for seniors.
- Funding for counseling. In order for this counseling to take place for all seniors in the ever-growing reverse mortgage industry, there needs to be money. The association will figure out ways to create funding for the counseling.
Learn more here.
Question of the Day: Is a streamlined process necessary for reverse mortgage counseling to be more effective?
