WASHINGTON, D.C. – June 17, 2013 – (RealEstateRama) — Ramsey Alwin, Senior Director of Economic Security at the National Council on Aging (NCOA), will testify tomorrow before a Senate subcommittee with oversight of the Home Equity Conversion Mortgage (HECM), the federal reverse mortgage program for seniors.
Alwin will share NCOA’s experience as the only national aging organization serving as a federally approved reverse mortgage counseling provider and offer several recommendations to strengthen the program for older homeowners.
U.S. Senate Committee on Banking, Housing, and Urban Affairs
Subcommittee on Housing, Transportation, and Community Development
Hearing on the Long-Term Sustainability for Reverse Mortgages:
HECM’s Impact on the Mutual Mortgage Insurance Fund
Tuesday, June 18, 2013 at 10 a.m.
538 Dirksen Senate Office Building, Washington, DC
Media and others are welcome to attend. Join us to hear how:
- Counseling is critical to the product’s long-term success and wise decision-making by older homeowners.
- Changes to the HECM program should not come at the expense of seniors of modest means for whom the program was originally designed.
- Increasing the strength and sustainability of the HECM program requires greater collaboration and consideration for counselor training.
About NCOA The National Council on Aging is a nonprofit service and advocacy organization headquartered in Washington, DC. NCOA’s mission is to improve the lives of millions of older adults, especially those who are vulnerable and disadvantaged. NCOA is a national voice for older Americans and the community organizations that serve them. It brings together nonprofit organizations, businesses, and government to develop creative solutions that improve the lives of all older adults. NCOA works with thousands of organizations across the country to help seniors find jobs and benefits, improve their health, live independently, and remain active in their communities.
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