HECM Handbook Training Module

HECM Handbook Training Module

The Federal Housing Administration introduced an online training module to highlight policy updates in the HECM section of the Single-Family Handbook 4001.1.

During the 27-minute presentation, HUD officials noted that:

  • Delinquent federal debt or tax liens may be paid off as a mandatory obligation at closing.
  • Mortgagees, with the agreement of the borrower, may select a date anytime between initial application and the date of closing to lock in the Expected Rate and the Mortgagee’s margin simultaneously.