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Ellie Mae announces Encompass v3.5 Banker and Custom Editions

May 04, 2008

National Housing Counseling Association launchedMortgagePress.comreverse mortgage counseling, HUD, Home Equity Conversion Mortgage A coalition of reverse mortgage counseling agencies and elder care experts announced a collaboration to launch the National Housing Counseling Association (NHCA). NHCA will act as an independent organization to support U.S. Department of Housing and Urban Development (HUD)-approved 501(c)(3) housing counseling agencies in the delivery of reverse mortgage counseling services. Its principle goal is to support education initiatives and provide resources to improve the operational efficiency, consistency and financial sustainability of reverse mortgage counseling programs nationwide. The association will build on existing best practices in the reverse mortgage counseling industry and will offer membership to all HUD-approved housing counseling agencies that provide reverse mortgage counseling and are prepared to meet HUD Home Equity Conversion Mortgage (HECM) counseling network standards and abide by the NHCA code of ethics. "The association was created to ensure the availability and quality of reverse mortgage counseling for seniors," said Chuck Stanley, NHCA spokesperson. "With the near exhaustion of available HUD funds for HECM counseling and the delay in HUD's borrower pay regulation, many counseling agencies are being forced to cut back on counseling services. NHCA has developed an industry-wide approach to accessing additional grant funds without the perceived conflict of interest associated with direct contributions by individual reverse mortgage lenders. NHCA is an independent organization formed to support HUD-approved agencies deliver reverse mortgage counseling services. For more information, call (866) 266-8215.
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May 04, 2008
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