A proposal to remove housing counseling as a front-end requirement for borrowers seeking government-insured reverse mortgages would eliminate a key consumer protection for seniors, according to Peter M. Mazonas, CEO of NatEquity Inc.

Mazonas voiced his concerns in a letter to the U.S. Department of Housing and Urban Development. His comments came in response to HUD’s October request for information (RFI) and a recent HUD suggestion to remove counseling as a loan requirement. Mazonas has expressed similar concerns in prior letters to HUD.

NatEquity is a California-based originator, servicer and portfolio manager of lifetime shared appreciation equity access products. details ⇒

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