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.
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 [email protected].
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.
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.
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.
It was recently announced that for the period January 1, 2019 through December 31, 2019, the national lending limit for Home Equity Conversion Mortgages will increase to $726,525.
Our calculator and new orders have been updated to be ready for this change effective January 1, 2019.
Click here to read the Mortgagee Letter.
Dear Reader,
This year’s NRMLA Annual Meeting and Expo was a great success. We enjoyed visiting with our partners and meeting new faces. This year we wanted to bring a little fun back to the conference. We hope you enjoyed Ron Burgundy and his news crew in San Diego, CA. Thanks to everyone for your participation!
Click the video below to see Ron’s full coverage report during the conference. Ron interviewed several industry professional’s to confirm that ARS is the best in the industry.
Ron Burgundy’s Field Report
In case you missed the promo and staff interviews videos, please check out the links below.
Stay classy San Diego and thanks for stopping by!
By now everyone is aware of the magnitude of the damage caused by the fires in California. Our industry is rooted in the shared mission of helping seniors by aging in place and improving their lives by helping to provide financial security. The Camp Fire has threatened the safety and security of thousands of seniors who have lost their personal belongings, their homes and the lives of some of their loved ones. All of us at Allegiant Reverse Services (ARS) have come together to try and help in any way we can by adopting a senior, donating supplies, clothes, toys and we have scheduled multiple ARS teams to head up to Chico, CA to help wherever it’s needed.
We have seen firsthand the generosity and community spirit of the reverse mortgage industry and we’re asking for you to join us in helping the senior population in Butte County. Allegiant Reverse Services (ARS) has started by helping one senior relocate to her new home. Click Here to read Carol’s story.
Together we can, and we will do more! ARS has chosen Paradise Alliance Church because of their focus on the senior community. They are a part of the 5% of the structures that survived the fire that wiped out the the town of Paradise. Their church will be used as a hub for the rebuilding efforts and they need help. They are working directly with more than 600 members who are seniors to assess their needs, and with our donations they will be in a better position to do so. We are directing the money to go towards helping pay for lodging for seniors who have lost their homes.
You may donate directly to Paradise Alliance Church through this GoFundMe account.
Find out more information about the Paradise Alliance Church here: https://paradisecma.org/
Some current statistics of the Camp Fire in Northern California. For more current statistics please click here.
As of 11/19/2018
Our hearts go out to all affected by this disaster and we thank you in advance for your generosity.
