New HECM Toolkits
Tuesday, 07 September 2010 10:09
HUD recently released new HECM protocol, which include changes and the addition of some new materials and tools developed by the NCOA.
You can access these new tools by:
HUD-approved reverse mortgage counselors have to provide potential applicants with the NCOA’s booklet on home equity and reverse mortgages.
Use Your Home to Stay at Home
This can be downloaded at HYPERLINK "http://www.ncoa.org/independence-dignity/reverse-mortgages/resources-for-reverse.html" \t "_blank" http://www.ncoa.org/independence-dignity/reverse-mortgages/resources-for-reverse.html for free.
HUD-approved reverse mortgage counselors must also complete a budget review with clients, via the Financial Interview Tool.
You can access this toolkit though your HUD-approved Client Management System or IBIS.
The counselors must also offer to conduct a BenefitsCheckup for all clients. Clients with incomes below 200% of the poverty line are required to do this.
You can access a simplified version for RM counseling through your HUD-approved Client Management System.
Counselors can access more information on the HECM Counseling Protocol and how to use FIT and BCU through HYPERLINK "https://nw.webex.com/mw0306lb/mywebex/default.do?siteurl=nw" \t "_blank" https://nw.webex.com/mw0306lb/mywebex/default.do?siteurl=nw.
Go through “Go to services” section, select “Training center,” select “Recorded sessions,” and select one of the recordings to gain access to a webinar.
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