Lenders Agree with CFPB: Consumers Need More Info about Reverse Mortgages

WASHINGTON, D.C. – Peter Bell, president and CEO of the National Reverse Mortgage Lenders Association, made the following statement after the Consumer Financial Protection Bureau released its report on the reverse mortgage industry today: 


“The Members of the Reverse Mortgage Lenders Association commend the CFPB for working diligently and delivering their study on the reverse mortgage industry ahead of schedule.  The report raises valid questions and we look forward to a continuing dialogue to collaborate to find answers.


“All of us want seniors and their children to have a better and more in-depth understanding of reverse mortgages. That is the intent of our Borrow with Confidence consumer education outreach, a comprehensive effort to provide tools that will create  the utmost transparency and clear understanding of the reverse mortgage process.”


For more information or to arrange an interview with Peter Bell, please contact Ron Eckstein at (202) 530-7704 or [email protected] .