Compliance Corner: Ordering the Counseling Session
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View ArticleComplying with FHA’s HECM Counseling Guidelines: Frequently Asked Questions
The most important consumer protection built into the reverse mortgage program is the requirement that a prospective borrower must first meet with an exam-qualified, independent third-party counselor...
View ArticleUpdate on HECM Counseling Certificate
NRMLA was contacted by HUD’s Office of Housing Counseling’s Senior Housing Program Specialist who asked us to advise our membership that the “Certificate of HECM Counseling” is still VALID. The current...
View ArticleCompliance Corner: No Fees Prior to Having a Signed Counseling Certificate
HUD’s Office of Housing Counseling contacted NRMLA this week and asked us to remind members that lenders are not permitted to collect a fee or take a final client application before the counseling...
View ArticleNRMLA Member Appointed to Counseling Advisory Committee
The Department of Housing and Urban Development appointed six new members to its Housing Counseling Federal Advisory Committee, including Carol Ann Dujanovich, Vice President and Director of...
View ArticleHUD Replaces FIT and Benefits Check Up
The Financial Interview Tool (FIT) used by HECM counselors to create a budget and the Benefits Check Up tool to identify local resources for reverse mortgage borrowers have been replaced by the Client...
View ArticleNeighborWorks America Announces Changes to Its HECM Hotline
NeighborWorks America notified NRMLA of the following changes to its HECM hotline. As of January 1, 2023, NeighborWorks America recommends that lenders and servicers direct consumers seeking reverse...
View ArticleHUD Publishes Updates HECM Portion of Housing Counseling Handbook
The U.S. Department of Housing and Urban Development’s Office of Housing Counseling updated its Housing Counseling Program Handbook (Handbook 7610.1 REV-6), including the section on HECM counseling....
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