Loan Servicing
FHA HECM Claims Reports
October 6, 2008
In this section, you will find information on HECM claims activity.
HUD Guidance on HECM Assignments
May 12, 2008
In cooperation with NRMLA's Servicing Subcomittee, HUD has developed the following Q&A that offers detailed guidance on questions relating to the assignment of HECM loans.
How to Successfully Submit a HECM Loan for Assignment
April 18, 2008
The following guidance on assigning loans was provided by the U.S. Department of Housing and Urban Development for educational purposes.
Fannie Mae to accept MOM Security Instruments on Reverse Mortgage Purchases
June 22, 2007
Effective immediately, Fannie Mae will begin accepting delivery of reverse mortgages on security instruments that name MERS as the mortgagee of record.
What Originators Should Know about Reverse Mortgage Servicing
Every loan originator should be able to discuss in detail how a reverse mortgage works, explain the role of processing and underwriting, but most importantly what happens after a loan closes.
Filing an Extension for Reverse Mortgage Payoff
March 28, 2007
The following Q&A was taken from an e-mail exchange between HUD and a member of NRMLA.
Guidance for Waiver of or Modification to Repair Set-Asides
March 27, 2007
The issuance of Mortgagee Letter 2005-48, Repair and Inspection Requirements for existing properties and revisions to FHA Appraisal Protocol, on December 19, 2005, introduced a shift in FHA's emphasis on the repair of minor property deficiencies to only requiring repairs for those property conditions that rise above the level of cosmetic defects, minor defects or normal wear and tear.
MERS Registration Permissible for HECMs
January 12, 2007
The Federal Housing Administration clarified yesterday that MERS registration was permissible for HECM loans.
Reverse Servicing Requires Expertise
October 28, 2006
The processes that many conventional loan servicers use do not apply to reverse mortgages, or must be "dramatically adjusted" to successfully manage the product, according to a report published by Fitch Ratings.
All materials copyrighted © 2008 National Reverse Mortgage Lenders Association.