FHA to Host Training Session on Reverse Mortgage Financial Assessment

The Federal Housing Administration (FHA) later this month will offer a free training opportunity for reverse mortgage lenders on the key requirements of the Financial Assessment.

On September 23, FHA will host a Financial Assessment and Property Charge Set Asides webinar for all industry stakeholders who are interested in learning more about these new Home Equity Conversion Mortgage (HECM) program guidelines.

The free webinar will cover steps that can be taken to minimize operational errors related to complying with the Financial Assessment, as well as refreshers on the key policy components to ensure ongoing success.

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“The implementation of FHA’s Home Equity Conversion Mortgage Financial Assessment and Property Charge Set Aside requirements for case numbers assigned on or after April 27, 2015 has been a significant change in the origination process,” FHA stated in its description of the upcoming webinar. “While mortgagees have put considerable effort into operationalizing the new policy, FHA is committed to providing continued support through additional training on the key policy components in response to feedback and questions received from users.”

While this webinar is open to all stakeholders, FHA notes that it is targeted primarily to mortgagees with a “detailed knowledge of, and responsibility for, FHA’s HECM Financial Assessment policies and requirements.”

To register for the training session, click here.

Written by Jason Oliva