In a memo to counseling agencies, the Department of Housing and Urban Development clarified that there is no cap or maximum amount that can be charged for HECM … more HUD Reiterates Policies on HECM Counseling Fees
Counseling
Massachusetts In-Person Counseling RequirementsMembers Only
Massachusetts’ Division of Banks confirmed with NRMLA’s outside legal counsel that those seniors who received counseling on or before July 31, do not have to be re-counseled in-person.
NRMLA Seeks Exemption for HECM CounselorsMembers Only
NRMLA submitted comments to HUD requesting that HECM counselors be exempted from new examination requirements that will assess a housing counselor’s competency guiding consumers through the homeownership process.
HUD Issues Counseling Compliance ReminderMembers Only
NRMLA is disseminating the following notice to members as a reminder of the counseling safeguards that HECM counselors and lenders must follow when meeting with prospective clients.
HUD Clarifies Meaning of Non-Recourse for HECM CounselorsMembers Only
In an email sent to HECM Counselors, HUD clarified the meaning of non-recourse and promised to update the HECM Counseling Protocol in Handbook 7610.1.
HUD Issues Warning on Inappropriate Counseling Activities
HUD sent a similar notice this week to all mortgagees advising them not to steer clients, participate in counseling sessions, or inappropriately prep clients in advance of counseling.
Submitting Concerns About Counseling Providers
If you or your clients encounter inappropriate behavior from HECM counselors, NRMLA wants to hear about it.