Tool Helps Streamline HECM Counseling Protocol Document Requirements

To help customers follow the new HECM Counseling protocols, Reverse Vision released CounselingDocs.org to help facilitate the transfer of documents between lenders, borrowers, and counseling agencies.

The new reverse mortgage protocol from the Department of Housing and Urban Development requires that borrowers interested in reverse mortgages receive a large information package that includes individualized loan tables prior to their counseling session.

The documents can be sent by the lender or counseling agency and must include “Preparing for Your Counseling Session”, printout of loan comparisons and total Annual Loan Cost (TALC), loan amortization schedule, and the National Council on Aging (NCOA) booklet “Use Your Home to Stay at Home – A Guide for Homeowners Who Need Help Now”.

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Through its loan origination system, lenders can share the documents with borrowers and counselors at no cost in an independent and anonymous manner says Reverse Vision.

“The new counseling protocol became effective over the weekend, but lenders and counselors are still looking for ways to address some of the new requirements,” said Thomas Martignoni, CEO of Reverse Vision.

When a lender generates documents from Reverse Vision, an access code is generated that allows counselors to bring up individual client information.  When a counselor meets with a client, the borrower provides the access code and a counselor can obtain documents tailored to the client from CounselingDocs.org.

According to Reverse Vision, even if a rogue user is able to guess the correct access code and download the anonymous copy, no personally identifiable information will be revealed, making the document irrelevant.  To see what the documents look like, users can visit the website and use the following information (access code: ABC123, initials: js).

Reverse Mortgage Counseling Association released a similar tool that is used by its member agencies.

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  • One apparent advantage to this tool is that it appears to avoid the problem of lenders steering clients toward particular counselors. The RMCA tool steers to MMI and CCCS (or RMCA member) agencies only. A client who lives next to my office would be referred to 4 out-of- state agencies (the closest being 17 miles away) or an in-state agency that is 40 miles away.

  • Like the RMCA tool, this option provides a way for the counselor to see what is being proposed by a lender. As a counselor, I find this very helpful. Often clients have trouble wading through the overwhelming package of documents they get from the lender, and pulling out the 2 or 3 pieces of paper with the relevant information to share with the counselor. Assuming that the lender provides the access code to the client in a very clear and obvious manner, and tells the client what it is for, this will be a very helpful way for counselors to get the information they need. I think this will be especially valuable for counselors providing phone counseling. In my opinion, it will not substitute for the loan printouts that counselors themselves generate, but it will make it easier for the counselor to draw comparisons between what the lender is offering and the other options the client may have. I see no clear advantage or disadvantage of this system over the Ibis Sandbox, except that the Sandbox printouts can be accessed from within Ibis RMA, which counselors already use. To me, that is not a major difference, and in a way, I am more comfortable with a completely separate system.

  • Once again Mr. Martignoni comes through with a new and very useful feature. We use ReverseVision and no doubt we will use this feature from time to time; however, there are many reasons why using the RMCAu2019s Sandbox may be a better decision in most situations.

  • One apparent advantage to this tool is that it appears to avoid the problem of lenders steering clients toward particular counselors. The RMCA tool steers to MMI and CCCS (or RMCA member) agencies only. A client who lives next to my office would be referred to 4 out-of- state agencies (the closest being 17 miles away) or an in-state agency that is 40 miles away.

  • Like the RMCA tool, this option provides a way for the counselor to see what is being proposed by a lender. As a counselor, I find this very helpful. Often clients have trouble wading through the overwhelming package of documents they get from the lender, and pulling out the 2 or 3 pieces of paper with the relevant information to share with the counselor. Assuming that the lender provides the access code to the client in a very clear and obvious manner, and tells the client what it is for, this will be a very helpful way for counselors to get the information they need. I think this will be especially valuable for counselors providing phone counseling. In my opinion, it will not substitute for the loan printouts that counselors themselves generate, but it will make it easier for the counselor to draw comparisons between what the lender is offering and the other options the client may have. I see no clear advantage or disadvantage of this system over the Ibis Sandbox, except that the Sandbox printouts can be accessed from within Ibis RMA, which counselors already use. To me, that is not a major difference, and in a way, I am more comfortable with a completely separate system.

  • Once again Mr. Martignoni comes through with a new and very useful feature. We use ReverseVision and no doubt we will use this feature from time to time; however, there are many reasons why using the RMCAu2019s Sandbox may be a better decision in most situations.

  • One apparent advantage to this tool is that it appears to avoid the problem of lenders steering clients toward particular counselors. The RMCA tool steers to MMI and CCCS (or RMCA member) agencies only. A client who lives next to my office would be referred to 4 out-of- state agencies (the closest being 17 miles away) or an in-state agency that is 40 miles away.

  • Like the RMCA tool, this option provides a way for the counselor to see what is being proposed by a lender. As a counselor, I find this very helpful. Often clients have trouble wading through the overwhelming package of documents they get from the lender, and pulling out the 2 or 3 pieces of paper with the relevant information to share with the counselor. Assuming that the lender provides the access code to the client in a very clear and obvious manner, and tells the client what it is for, this will be a very helpful way for counselors to get the information they need. I think this will be especially valuable for counselors providing phone counseling. In my opinion, it will not substitute for the loan printouts that counselors themselves generate, but it will make it easier for the counselor to draw comparisons between what the lender is offering and the other options the client may have. I see no clear advantage or disadvantage of this system over the Ibis Sandbox, except that the Sandbox printouts can be accessed from within Ibis RMA, which counselors already use. To me, that is not a major difference, and in a way, I am more comfortable with a completely separate system.

  • Once again Mr. Martignoni comes through with a new and very useful feature. We use ReverseVision and no doubt we will use this feature from time to time; however, there are many reasons why using the RMCAu2019s Sandbox may be a better decision in most situations.

  • One apparent advantage to this tool is that it appears to avoid the problem of lenders steering clients toward particular counselors. The RMCA tool steers to MMI and CCCS (or RMCA member) agencies only. A client who lives next to my office would be referred to 4 out-of- state agencies (the closest being 17 miles away) or an in-state agency that is 40 miles away.

  • Like the RMCA tool, this option provides a way for the counselor to see what is being proposed by a lender. As a counselor, I find this very helpful. Often clients have trouble wading through the overwhelming package of documents they get from the lender, and pulling out the 2 or 3 pieces of paper with the relevant information to share with the counselor. Assuming that the lender provides the access code to the client in a very clear and obvious manner, and tells the client what it is for, this will be a very helpful way for counselors to get the information they need. I think this will be especially valuable for counselors providing phone counseling. In my opinion, it will not substitute for the loan printouts that counselors themselves generate, but it will make it easier for the counselor to draw comparisons between what the lender is offering and the other options the client may have. I see no clear advantage or disadvantage of this system over the Ibis Sandbox, except that the Sandbox printouts can be accessed from within Ibis RMA, which counselors already use. To me, that is not a major difference, and in a way, I am more comfortable with a completely separate system.

  • Once again Mr. Martignoni comes through with a new and very useful feature. We use ReverseVision and no doubt we will use this feature from time to time; however, there are many reasons why using the RMCAu2019s Sandbox may be a better decision in most situations.

  • One apparent advantage to this tool is that it appears to avoid the problem of lenders steering clients toward particular counselors. The RMCA tool steers to MMI and CCCS (or RMCA member) agencies only. A client who lives next to my office would be referred to 4 out-of- state agencies (the closest being 17 miles away) or an in-state agency that is 40 miles away.

  • Like the RMCA tool, this option provides a way for the counselor to see what is being proposed by a lender. As a counselor, I find this very helpful. Often clients have trouble wading through the overwhelming package of documents they get from the lender, and pulling out the 2 or 3 pieces of paper with the relevant information to share with the counselor. Assuming that the lender provides the access code to the client in a very clear and obvious manner, and tells the client what it is for, this will be a very helpful way for counselors to get the information they need. I think this will be especially valuable for counselors providing phone counseling. In my opinion, it will not substitute for the loan printouts that counselors themselves generate, but it will make it easier for the counselor to draw comparisons between what the lender is offering and the other options the client may have. I see no clear advantage or disadvantage of this system over the Ibis Sandbox, except that the Sandbox printouts can be accessed from within Ibis RMA, which counselors already use. To me, that is not a major difference, and in a way, I am more comfortable with a completely separate system.

  • Once again Mr. Martignoni comes through with a new and very useful feature. We use ReverseVision and no doubt we will use this feature from time to time; however, there are many reasons why using the RMCAu2019s Sandbox may be a better decision in most situations.

  • One apparent advantage to this tool is that it appears to avoid the problem of lenders steering clients toward particular counselors. The RMCA tool steers to MMI and CCCS (or RMCA member) agencies only. A client who lives next to my office would be referred to 4 out-of- state agencies (the closest being 17 miles away) or an in-state agency that is 40 miles away.

  • Like the RMCA tool, this option provides a way for the counselor to see what is being proposed by a lender. As a counselor, I find this very helpful. Often clients have trouble wading through the overwhelming package of documents they get from the lender, and pulling out the 2 or 3 pieces of paper with the relevant information to share with the counselor. Assuming that the lender provides the access code to the client in a very clear and obvious manner, and tells the client what it is for, this will be a very helpful way for counselors to get the information they need. I think this will be especially valuable for counselors providing phone counseling. In my opinion, it will not substitute for the loan printouts that counselors themselves generate, but it will make it easier for the counselor to draw comparisons between what the lender is offering and the other options the client may have. I see no clear advantage or disadvantage of this system over the Ibis Sandbox, except that the Sandbox printouts can be accessed from within Ibis RMA, which counselors already use. To me, that is not a major difference, and in a way, I am more comfortable with a completely separate system.

  • Once again Mr. Martignoni comes through with a new and very useful feature. We use ReverseVision and no doubt we will use this feature from time to time; however, there are many reasons why using the RMCAu2019s Sandbox may be a better decision in most situations.

  • Once again Mr. Martignoni comes through with a new and very useful feature. We use ReverseVision and no doubt we will use this feature from time to time; however, there are many reasons why using the RMCAu2019s Sandbox may be a better decision in most situations.

  • Like the RMCA tool, this option provides a way for the counselor to see what is being proposed by a lender. As a counselor, I find this very helpful. Often clients have trouble wading through the overwhelming package of documents they get from the lender, and pulling out the 2 or 3 pieces of paper with the relevant information to share with the counselor. Assuming that the lender provides the access code to the client in a very clear and obvious manner, and tells the client what it is for, this will be a very helpful way for counselors to get the information they need. I think this will be especially valuable for counselors providing phone counseling. In my opinion, it will not substitute for the loan printouts that counselors themselves generate, but it will make it easier for the counselor to draw comparisons between what the lender is offering and the other options the client may have. I see no clear advantage or disadvantage of this system over the Ibis Sandbox, except that the Sandbox printouts can be accessed from within Ibis RMA, which counselors already use. To me, that is not a major difference, and in a way, I am more comfortable with a completely separate system.

    • One apparent advantage to this tool is that it appears to avoid the problem of lenders steering clients toward particular counselors. The RMCA tool steers to MMI and CCCS (or RMCA member) agencies only. A client who lives next to my office would be referred to 4 out-of- state agencies (the closest being 17 miles away) or an in-state agency that is 40 miles away.

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