The Department of Housing and Urban Development (HUD) recently updated a training presentation on the Financial Assessment for reverse mortgage professionals to use at their own discretion.
On HUD.gov, the Federal Housing Administration’s Office of Single Family Housing posted the “Home Equity Conversion Mortgage Financial Assessment Update,” a pre-recorded webinar that serves as an update to the presentation on the HECM Financial Assessment that was originally broadcasted on September 23, 2015.
The content of the presentation has been revised to provide information on the Financial Assessment based on requirements issued with Mortgagee Letter 2016-10.
“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 stakeholders,” FHA states on its website for archived Single Family Housing webcasts.
Topping out at 59 minutes, the webinar discusses various aspects of the Financial Assessment, including steps that can be taken to minimize operational errors, as well as information on the latest policy components to ensure ongoing success under these HECM guidelines.
Written by Jason Oliva