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HECM

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NRMLA Responds to Wells Fargo Announcement 

Jun 17, 2011By

The following is a statement from Peter Bell, President of the National Reverse Mortgage Lenders Association (NRMLA) regarding the announcement from Wells Fargo Home Mortgage that they are exiting the reverse mortgage business:   Reverse mortgages and HECM loans are readily available to seniors as an important tool to help them stay in their homes and to fund their longevity. The decision by Wells Fargo that it will no longer originate new reverse mortgage loans does nothing to change this. The HECM program remains a relevant tool and the vast need for it continues. All current Wells Fargo reverse

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