The National Reverse Mortgage Lenders Association (NRMLA) has announced the preliminary agenda for its 2013 Annual Meeting & Expo, to be held Nov. 4-6 in New Orleans, La. Much of the conference will focus on changes the U.S. Department of Housing & Urban Development (HUD) has begun implementing to improve the fiscal safety and soundness of the Home Equity Conversion Mortgage insurance program.
Click here to view the prelimnary Schedule of Events.
“We’ve dubbed this year’s annual meeting ‘New Music: Changing the Reverse Mortgage Conversation,’” said NRMLA President and CEO Peter Bell. “The name is a tip of the hat to the musical influence of our host city, New Orleans, but also highlights the significant changes being made to the federal reverse mortgage program.”
The three-day summit will combine key-note speeches, panel discussions, debates and workshops on some of the industry’s most critical issues, with a special focus on the federal reforms.
“HUD has made smart reforms to improve the HECM program, strengthen the insurance fund, and fulfill its mission of helping aging Americans remain in their homes,” said Bell. “Our annual meeting will be an opportunity for reverse mortgage professionals to learn more about the latest changes and plan for the most successful path forward as we continue to help America’s seniors utilize this valuable financial tool.”
There will be updates from key government officials, including Karin Hill, HUD’s director of Single Family Program Development, and a session with Ginnie Mae’s Michael Drayne, senior vice president in the Office of Issuer & Portfolio Management.
Financial planner Michael Kitces will speak on how the new reverse mortgage changes can improve the product as a financial planning tool, and there will be a roundtable discussion among some of the leading academic researchers studying reverse mortgages today. Chris Mayer, Columbia Business School professor of real estate finance and economics, will moderate the researchers’ roundtable.
John Salter, Texas Tech University associate professor of personal financial planning, will present his research comparing the financial benefits of using a reverse mortgage to pay off a forward mortgage versus continuing to pay a forward mortgage into retirement.
Stephanie Moulton, professor at the John Glenn School of Public Affairs at Ohio State University, will discuss her study of how reverse mortgage borrowers use their loans.
Irina Telyukova, assistant professor of economics at the University of California-San Diego, will present her research on why seniors resist taking out a reverse mortgage.