NCRC and Urban Financial of America Announce Reverse Mortgage Fair Lending Collaboration
Washington, DC – Today, the National Community Reinvestment Coalition (NCRC) and Urban Financial of America, LLC (UFA), one of the largest reverse mortgage lenders in the country, announced a collaboration to focus on fair lending to older adults. NCRC will serve in an advisory role to assist UFA with providing Home Equity Conversion Mortgages (HECMs) to qualified borrowers age 62 and older.
“NCRC looks forward to working with UFA to ensure older adults have fair access to reverse mortgage products,” said NCRC President and CEO John Taylor. “Our hope is that in the future, other reverse mortgage lenders will look to UFA as a guiding example of responsible and fair lending.”
UFA President Steve McClellan said: “This NCRC collaboration is an important element to helping all seniors age in place successfully. We look forward to working with the NCRC in helping us pilot programs in under-resourced communities. Our partnership with the NCRC helps to reinforce our corecorporate principles of client focus, integrity, teamwork, innovation, respect for each individual and responsible citizenship.”
About the National Community Reinvestment Coalition (NCRC):
The National Community Reinvestment Coalition is an association of more than 600 community-based organizations that promote access to basic banking services, including credit and savings, to create and sustain affordable housing, job development and vibrant communities for America’s working families.