The CFPB has issued a request for information to gather public feedback on a few reverse mortgage follow-up questions, following the release of the its study on reverse mortgages.
The questions will be grouped into four broad topics: (a) factors influencing consumer decisions, (b) consumer use of reverse mortgage proceeds, (c) the longer-term outcomes of reverse mortgages, and (d) the differences in market dynamics and business practices among the broker, correspondent, and retail channels.
The CFPB will use information from its report and the responses to make future policy and disclosure decisions on reverse mortgages.
Comments will be due 60 days from its publication in the Federal Register.
Read the request for information.