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.

Published by

Darryl Hicks

Darryl Hicks is Vice President of Communications for the National Reverse Mortgage Lenders Association. In this capacity, Hicks writes for NRMLA's publications, manages the association's web sites and social media accounts, assists committees and the Board of Directors, and manages the Certified Reverse Mortgage Professional designation. Prior to joining NRMLA in 1999, Hicks spent three years in the Washington, D.C. bureau for National Mortgage News.