Personal Loan

The federal banking regulatory agencies recently issued the final Guidance for Managing Compliance and Reputation Risks to assist the institutions they regulate in managing risks associated with reverse mortgages. New reverse mortgage lending requirements took effect in Louisiana in August. Yet another change that will take place in the reverse lending world is a requirement for lenders to enter into FHA Connection a list of home-equity conversion mortgage counseling agencies they are to provide to prospective HECM borrowers, the Department of Housing and Urban Development said.

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