The Federal Housing Administration published FHA Info #20-67 to announce updates to the Home Equity Reverse Mortgage Information Technology (HERMIT) system’s file format and layout.
The changes are scheduled to be implemented on September 26, 2020 to improve the reporting of HECM terminations. HERMIT software updates related to HECM submission extensions related to the Presidentially-Declared COVID-19 National Emergency were posted in FHA INFO 20-66 on September 10, 2020.
Servicers should reference the HERMIT System & Resources page for more information on these changes. In addition, questions regarding HERMIT can be sent by email to: ServicingSupport@hermitsp.com.