FHA Commissioner Brian Montgomery praises reverse mortgages, industry at NRMLA's Annual MeetingMortgagePress.comBrian Montgomery, FHA Commissioner, NRMLA, reverse mortgage, HECM
At the National Reverse Mortgage Lenders Association meeting in
Los Angeles, more than 700 participants today honored Brian
Montgomery, Assistant Secretary for Housing-Federal Housing
Commissioner with a standing ovation for his contributions and
support for the industry during his three-and-a-half-year term as
Montgomery provided a retrospective on the Federal Housing
Administration and praised the industry and the Home Equity
Conversion Mortgage (HECM) program.
"It's disappointing to read news coverage that is critical of
reverse mortgages. Most seniors are well served by and are happy
with their reverse mortgages," said Montgomery. "I encourage all of
you to continue to spread the good word and benefits of reverse
Mr. Montgomery also commended NRMLA's overall efforts to educate
the public and promote the value of reverse mortgages.
"FHA has enjoyed a great partnership with NRMLA members and
appreciate how the staffs have worked for the betterment of the
industry and we wish all trade groups were as professional as
NRMLA," said Montgomery.
"Brian has been a dear friend and valued colleague whose
leadership at FHA has been instrumental in continually evolving
HECM program in order to provide seniors with improved options to
fund their retirement with the equity in their homes," said Peter
Bell, president of NRMLA.
The National Reverse Mortgage Lenders Association (NRMLA)
assembled a premier gathering of industry experts to share
information and discuss ideas for promoting strategies to help
seniors remain in their homes throughout retirement during the 2008
NRMLA Conference and Expo in Los Angeles on November 17-19. The
three-day conference drew participants from all over the
Participants represented a wide spectrum of industry experts
including guest speakers Sandra Timmermann, Metlife Mature Market
Institute, and Donna Tomposki and Betsy Cromwell, U.S. Dept. of
Housing and Urban Development.
Among the many topics that were discussed included:
• Political and regulatory issues facing the reverse
• Retirement trends; and
• The reverse mortgage loan process.
For more information, visit www.reversemortgage.org.