HECM Counseling

NRMLA developed the following FAQ after hosting a webinar entitled What Has Been the Effect of the New Counseling Protocol?

A comprehensive FAQ covering key counseling issues.

Following is an exchange between NRMLA and FHA regarding a question submitted by a member in response to the recent announcement that lenders will need to provide a copy of the loan print-outs to the HECM counselor prior to the counseling session.

HUD is updating the online version of its Handbook 7610.1: Housing Counseling Program.

As more policymakers discuss the feasibility of mandatory face-to-face HECM counseling, we would like to briefly discuss a recent occurrence that one of our members in Pennsylvania had assisting a client.

Last week, NRMLA sought guidance from FHA on what should happen if a lender is unable to provide a full list of counselors to a potential applicant, because the person (or couple) lives in an area that does not have five HUD-approved counseling agencies.

How should counseling be done? Should the borrower always have to meet in person with the counselor? Can effective counseling be done by telephone, or through interactive Web video programs like Skype?

HUD has published the long-awaited HECM counseling protocol. We've summarized some of the important parts and provided a copy to download. At the bottom of the memo is an update published by FHA that noted some inconsistencies in the protocol.

The Department of Housing and Urban Development published the following FAQs for HECM counselors who have questions about the new Roster.

The U.S. Department of Housing and Urban Development today published a final rule implementing its HECM Counseling Roster and testing standards that will be used to qualify new counselors.

HUD distributed the following email thru its counseling network.