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Policymakers should:

Policymakers should require providers of credit- and debt-related services to provide written contracts to consumers.

Financial capability initiatives should increase the ability of all people to make informed decisions about the use and management of money.

Bankruptcy law should increase consumer protections.

Policymakers should create and rigorously enforce consumer protections in mortgage lending.

Policymakers should issue strong consumer protections against abusive loan servicing practices.

Policies should be in place to avoid unnecessary foreclosures.

The origination fee for HECM refinances should be lower than for the original loan.

States should establish consumer protections for proprietary reverse mortgages not insured by the federal government.

Policymakers should create or extend programs that would address reverse mortgage foreclosures.