Announcing NRMLA 2019 Committee Member
Megan Awalt, Vice President, has been selected to join NRMLA’s Independent Certification Committee. A committee dedicated to administering the Certified Reverse Mortgage Professional (CRMP) designation.
Kansas State Stamp Tax
For all mortgages of real property, or renewal or extension of such a mortgage, received and filed for record on and after January 1, 2019, the tax shall be 0.0% of the principal debt or obligation which is secured by such mortgage.
Use the link to see the full statute: STATE STAMP TAX – Statute Kansas State Legislature
Our calculator was updated to reflect this change effective January 1, 2019.
Only you can PREVENT FRAUD!
With the aging of the baby boomers, an average of 10,000 Americans are turning 65 every day and will continue at that rate until the year 2030. At which point one in five persons in the U.S. is projected to be 65 years or older and the numbers are projected to reach 74 million. By 2050, the elderly population in America is expected to reach 88 million; by 2060, more than 98 million.
Imagine the people you know who fit into the statistics above, wouldn’t you want to know they are educated, protected and taken care of?
If we all do our part to remain aware and informed then we are a step closer to preventing further fraud. But it takes more than a village, it takes you.
Start with taking action and reporting fraud. Call the Senate Aging Committee Toll Free Fraud Hotline to report fraud or suspected fraud for investigation. You can also receive tips on how to avoid scams and fraud.
Call Monday – Friday
9:00 am – 5:00 pm (EST)
1.855.303.9470
Announcing NRMLA 2019 Committee Member
Tina Meilinger, Senior Vice President, will be joining NRMLA’s Risk & Compliance Committee. A committee whose focus is managing risk and understanding the evolving compliance landscape, such as evaluating impacts of HECM program changes and identifying red flags and identity theft.
February Webinars
Fraud Prevention – CRMP Certified Course
Wednesday, February 13, 2019 – 10:00am PST/1:00pm EST
Join us for our new class dedicated to enhancing the security of your transaction. We have compiled a comprehensive overview of some of the most common ways you can detect and prevent fraud. Allow us to share with you ways to stay alert to fraud so you can protect yourselves, your clients and increase overall awareness of the dangers of fraud.
Note: CRMP Credit not available for California residents.
Click here to register.
The Payoff Process
Wednesday, February 20, 2019 10:00am PST/1:00pm EST
Paying off debt is a crucial part of the reverse mortgage transaction. Join us to familiarize yourself with the timeline and requirements when there is debt involved. We will also cover ways to identify potential liens that may cause delays in the closing of your file.
Click here to register.
BCFP Creates Placemat to Educate Consumers About Scams
The Bureau of Consumer Financial Protection created a consumer education placemat to help older adults protect themselves from fake charity scams. The placemat is part of a series of consumer education placemats that meal service providers can share with meal deliveries or at group meal sites, financial institutions can share with their customers, faith-based organizations can share with their congregants.
The placemats are free to order in bulk. To accompany the fake charity scam placemat, the BCFP created a brief guide that practitioners can use to prevent, protect, recognize, and report fake charity scams. Read the agency’s blog about fake charity scams for more information.
If you have any questions, members can contact the BCFP at olderamericans@cfpb.gov.
Educate Your Clients About This Social Security Scam
In a recent blog posting on the Federal Trade Commission web site, Jennifer Leach, acting associate director of the Division of Consumer and Business Education, played a recording of a new phone scam that has defrauded tens of thousands of people out of a combined $10 million.
“Scammers are saying your Social Security number (SSN) has been suspended because of suspicious activity, or because it’s been involved in a crime,” said Leach. “Sometimes, the scammer wants you to confirm your SSN to reactivate it. Sometimes, he’ll say your bank account is about to be seized – but he’ll tell you what to do to keep it safe. (Often, that involves putting your money on gift cards and giving him the codes – which, of course, means that your money is gone.)”
She also noted that the correct phone number for the Social Security Administration (800-772-1213) is coming across on caller ID, but the phone number that the scammers provide is different. If you or your clients get these calls, you are urged to tell the FTC at ftc.gov/complaint.
As a reminder, NRMLA offers a free consumer brochure — titled Recognize & Report Elder Financial Abuse — that you can download and distribute to your clients that helps them recognize common scams and signs of financial exploitation. Download copies by clicking on the image below.
Delay in IRS Lien Payoff Statements
Due to the partial federal government shutdown, there has been a significant delay in obtaining payoff statements from the Internal Revenue Service (IRS). Approximately 12% of the IRS staff are currently working, therefore we’re finding that these requests are impossible to obtain by phone and fax numbers as they are currently not going through.
Remember that all IRS payoff statements must be current, as additional interest, penalties and taxes may have accrued. We are continuing to monitor daily, as I am sure that each of you are as well. If you have any concerns, please feel free to reach out to your settlement team or account manager.
Education Calendar 2019
Our Education Calendar provides you with an overview of our scheduled classes for 2019. Please remember that we are happy to offer individual sessions or a customized training to best fit the needs of your office. Our online library of previously recorded classes is also available to view at your convenience.
Click the link below to download your copy of the 2019 Education Calendar.
Contact
TF: 844.808.8299
905 Highland Pointe Dr., Suite 150
Roseville, CA 95678
We are
