Alternate content for script

HECM Counselor and Lender Resources

For Counselors:

HECM Counseling Certificates 
After the counseling session, you are required to provide a signed copy of the HECM Counseling Certificate to the homeowner. This certificate is presented to the lender with the reverse mortgage application. The loan application begins once a completed and a fully executed counseling certificate is provided to the lender. Avoid delays by downloading frequently asked questions about the HECM Counseling Certificate.

Tax Insurance and Default Counseling
Are you getting calls from HECM borrowers who have been notified that they may be facing foreclosure due to non-payment of property taxes or other property charges? HUD has enlisted the help of five national counseling intermediaries to provide these seniors with counseling and support.  Please refer those callers directly to any one of the resources listed.
 

people looking at notebook

HECM Property Charge Loss Mitigation Counselors:

  • Greenpath
    • (888) 860-4167
  • Housing Options Provided for the Elderly (HOPE)
    • (844) 432-6467
  • Money Mangaement International
    • (877) 908-2227
  • National Foundation for Credit Counseleing
    • (866) 698-6322
  • NeighborWorks America
    • (888) 990-4326

Additional resources:

 

Consumer Financial Protection Bureau's Office for Older Americans

As an increasing number of older homeowners are considering using their home equity to supplement their retirement income, lenders are marketing reverse mortgages as a way for older consumers to age in place. And yet many older consumers are confused about what it means to take out a reverse mortgage. To help older homeowners understand how a reverse mortgage works, the Consumer Financial Protection Bureau’s Office for Older Americans created the following resources:

Reverse Mortgage Discussion Guide: To help housing counselors and older consumers learn about reverse mortgages, the Consumer Financial Protection Bureau’s Office for Older Americans created an in-depth resource that gives an overview of many key concepts of reverse mortgages. Reverse Mortgage Discussion Guide

Know Before You Owe Reverse Mortgage Video: To help older consumers understand the basics of what a reverse mortgage is, the Consumer Financial Protection Bureau’s Office for Older Americans created a two-minute explanatory video for homeowners and their families. Know Before You Owe Reverse Mortgage Video

Considering a Reverse Mortgage: To help older consumers understand the key concepts of a reverse mortgage loan, the Consumer Financial Protection Bureau’s Office for Older Americans created a short guide of discussion questions and considerations for homeowners and their families. Considering a Reverse Mortgage 

The Reverse Mortgage Borrowers Guide to Natural Disasters: To help older consumers living in areas affected by natural disasters, the Consumer Financial Protection Bureau’s Office for Older Americans created a guide that highlights ways in which reverse mortgage borrowers can continue to meet their ongoing loan obligations. The Reverse Mortgage Borrowers Guide to Natural Disasters

Avoid Reverse Mortgage Scams: To help older consumers protect themselves from scams, the Consumer Financial Protection Bureau’s Office for Older Americans created this blog article describing how the economic upheaval caused by COVID-19 has led to a growth of reverse mortgage scams. Avoid Reverse Mortage Scams

The CFPB Reverse Mortgage Portal: The Consumer Financial Protection Bureau's Office for Older Americans maintains a dedicated webpage on reverse mortagages. Content includes the above resources, as well as additional reports and Q&A's. CFPB Reverse Mortage Portal

For Lenders:

HUD’s Home Equity Conversion Mortgages for Lenders
National Reverse Mortgage Lender’s Association