OMB control number
Interagency Guidance on Managing Compliance and Reputation Risks for Reverse Mortgage Products
OMB 7100-0330 · FRS.
Reverse mortgages are home-secured loans typically offered to elderly consumers. Financial institutions currently provide two types of reverse mortgage products: the lenders’ own proprietary reverse mortgage products and reverse mortgages insured by the Federal Housing Administration (FHA) within the U.S. Department of Housing and Urban Development (HUD). Reverse mortgage loans insured by the FHA are made pursuant to the guidelines and rules established by HUD’s Home Equity Conversion Mortgage (HECM) program. HECM loans and proprietary reverse mortgages are also subject to consumer financial protection laws and regulations (e.g., the regulations that implement laws such as the Real Estate Settlement Procedures Act (RESPA) and the Truth in Lending Act (TILA)).
The latest form for Interagency Guidance on Managing Compliance and Reputation Risks for Reverse Mortgage Products expires 2027-09-30 and can be found here.
Document Name |
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Supporting Statement A |
FR4029_20240930_omb.pdf
Review and maintenance of policies and procedures |
Approved without change |
Extension without change of a currently approved collection | 2024-09-30 | |
|
Approved without change |
No material or nonsubstantive change to a currently approved collection | 2024-09-29 | |
|
Approved without change |
Extension without change of a currently approved collection | 2021-09-14 | |
|
Approved without change |
No material or nonsubstantive change to a currently approved collection | 2020-11-02 | |
|
Approved without change |
Extension without change of a currently approved collection | 2018-09-20 | |
|
Approved without change |
No material or nonsubstantive change to a currently approved collection | 2018-09-19 | |
|
Approved without change |
Extension without change of a currently approved collection | 2015-09-28 | |
|
Approved without change |
No material or nonsubstantive change to a currently approved collection | 2015-06-05 | |
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Approved without change |
New collection (Request for a new OMB Control Number) | 2010-09-30 |
Implementation of policies and procedures
Federal Enterprise Architecture: Economic Development - Financial Sector Oversight