Training: Are You Prepared for New Reverse Mortgage Counseling Changes?

image Reverse Fortunes is presenting RMD readers with another free training session on January 7, 2010 at 9:00 AM to make sure your company is prepared for the new counseling changes.

Reverse Fortunes will cover how HUD counselors are mandated to go the extra mile in what seems to be an effort to better educate the prospective borrower and determine suitability.

They will cover how you can easily gather your clients financial details to ensure they’re prepared for their counseling session.

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Space is limited so register today!

Date: Thursday, January 7, 2010
Time: 9:00 AM – 10:00 AM PST

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  • Howdy!

    I was trying to get a better understanding of any upcoming changes HUD would be requiring concerning HECM counsel and contacted a few counseling agencies. This is 1 of the emails I received regarding such changes. If this is accurate then my understanding is that there are no changes scheduled to take place at this point in time.

    Thank you for your inquiry about the HECM protocol changes. The information in the PowerPoint slides below is from the HUD protocol training that took place in July. The new protocol came out in August. However, HUD rescinded the new protocol a few days later in order to make some changes. The protocol has not been re-issued and HUD does not have a target date for when it might come out. The PowerPoint slides list the new requirements from the rescinded protocol. None of the changes are going into effect on 1/1/2010. We will keep you updated if/when we receive any news on the new HECM counseling protocol. Thank you for being proactive!

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