Do you think reverse mortgages should receive more regulatory oversight?
Yes. (66%, 31 Votes)
No. (34%, 16 Votes)
Total Voters: 47
Share your experience with reverse mortgages with other readers in the comments section below.
What do you know about reverse mortgages? The Consumer Financial Protection BureauAn independent federal agency created by the Dodd-Frank Act responsible for regulating consumer protection with regards to financial services and products.(CFPB) wants your knowledge to help them draft new regulations governing this potentially volatile loan product.
The CFPB is seeking information from the public on:
factors influencing consumers’ decisions to get a reverse mortgage;
how consumers use reverse mortgage proceeds;
long-term outcomes to reverse mortgage borrowers; and
the market dynamics and business practices between brokers, correspondents and retail loan officers of reverse mortgages.
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