NCOA Expert to Testify on Reverse Mortgages
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NCOA Expert to Testify on Reverse Mortgages

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June 17, 2013

NCOA Media Contact:
Brandy Bauer
202-600-3126
brandy.bauer@ncoa.org

Ramsey Alwin, Senior Director of Economic Security at the National Council on Aging (NCOA), will testify tomorrow before a Senate subcommittee with oversight of the Home Equity Conversion Mortgage (HECM), the federal reverse mortgage program for seniors.

Alwin will share NCOA’s experience as the only national aging organization serving as a federally approved reverse mortgage counseling provider and offer several recommendations to strengthen the program for older homeowners.

U.S. Senate Committee on Banking, Housing, and Urban Affairs
Subcommittee on Housing, Transportation, and Community Development

Hearing on the Long-Term Sustainability for Reverse Mortgages:
HECM’s Impact on the Mutual Mortgage Insurance Fund

Tuesday, June 18, 2013 at 10 a.m.
538 Dirksen Senate Office Building, Washington, DC

Media and others are welcome to attend. Join us to hear how:

  • Counseling is critical to the product’s long-term success and wise decision-making by older homeowners.
  • Changes to the HECM program should not come at the expense of seniors of modest means for whom the program was originally designed.
  • Increasing the strength and sustainability of the HECM program requires greater collaboration and consideration for counselor training.

The hearing is open to the public, and additional details can be found on the committee website. More information on NCOA and reverse mortgages can be found at www.ncoa.org/HomeEquity.

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About NCOA  The National Council on Aging (NCOA) is the nation’s leading nonprofit service and advocacy organization representing older adults and the community organizations that serve them. Our goal is to improve the health, independence, and economic security of 10 million older adults by 2020. For more than 60 years, NCOA has been a trusted voice and innovative problem-solver helping seniors navigate the challenges of aging in America. We work with local and national partners to give older adults tools and information to stay healthy and secure, and we advocate for programs and policies to improve the lives of all seniors, especially the most vulnerable. For more information, please visit www.ncoa.org.

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