#nrmla

#nrmla

It specifically wants to reduce paperwork and increasing borrower flexibility while maintaining protections against defaults. NRMLA wrote that since its introduction in 2015, the HECM financial assessment has helped reduce reverse mortgage foreclosures due to property tax and insurance defaults. NRMLA said it supports maintaining FA's effectiveness, but it asks for streamlining procedures, reducing documentation burdens, and aligning HECM underwriting with FHA's forward mortgage program.

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