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Lori Trawinski

Biography:

Lori Trawinski is a senior strategic policy advisor on the Consumer and State Affairs Team in the AARP Public Policy Institute. She is responsible for research and analyses of policy issues relating to mortgage lending, reverse mortgages, housing finance reform, foreclosures, financial services, consumer debt and banking.

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Lori Trawinski'sPosts

Six Ways to Improve the HECM Reverse Mortgage Program

Posted on 06/24/2013 by |AARP Blog Author | Comments

Money & Savings | Public Policy InstituteAt a recent Senate hearing on reverse mortgages, AARP testified and suggested recommendations for improving the Home Equity Conversion Mortgage (HECM) reverse mortgage program.  These changes would enhance consumer protections and increase the fiscal stability of the Federal Housing Administration’s (FHA) Mutual Mortgage Insurance Fund.     1.    Implement changes to strengthen the HECM program including: financial assessments, tax and insurance set-asides, and limitation of upfront draws for certain purposes though public rulemaking. Changes are needed to enhance the HECM program’s long-term …

HECM Program Changes: An Emergency or an Excuse?

Posted on 04/25/2013 by |AARP Blog Author | Comments

Money & Savings | Public Policy InstituteChanges are likely coming to the Federal Housing Administration’s (FHA) Home Equity Conversion Mortgage (HECM) reverse mortgage program. Proposed changes include the long-awaited and first-ever financial assessment of potential borrowers. At a recent reverse mortgage industry event, an official from the U.S. Department of Housing and Urban Development (HUD) referred to this change as a “financial and credit assessment.” So, it appears that HUD may be considering credit scores in determining whether the HECM is a viable option for a …