NRMLA has compiled more than 180 comments on the draft HECM Handbook that will soon be submitted to the Department of Housing and Urban Development along with a cover letter highlighting the more important issues.
Since the draft handbook was published on September 29, NRMLA has convened multiple meetings with subject-matter experts who carefully reviewed guidelines related to origination/counseling, closing/post-closing/endorsement, underwriting/Financial Assessment, HECM for Purchase/HECM Refinance and servicing.
NRMLA wishes to thank everyone who volunteered to participate in the review and comment process, especially HUD Issues Committee Co-Chair Elly Johnson of All Reverse Pro who managed the entire handbook review process.
NRMLA will post our comment letter to NRMLAonline.org once submitted to HUD. Members are encouraged to submit their comments by January 31.