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B. TITLE II INSURED HOUSING PROGRAMS REVERSE MORTGAGES
The Title II Insured Housing Programs Home Equity Conversion Mortgages (HECM) Origination/Counseling Requirements through Post-closing and Endorsement sections in this FHA Single Family Housing Policy Handbook (Handbook 4000.1) provide the origination, property underwriting, financial assessment, closing, post-closing, and endorsement standards and procedures applicable to HECMs insured under Section 255 of Title II of the National Housing Act.
The Mortgagee must fully comply with all of the following standards and procedures in originating, underwriting the Property, conducting the financial assessment, and closing for obtaining Federal Housing Administration (FHA) mortgage insurance on all HECM transactions.
If there are any exceptions or program-specific standards or procedures that differ from those set forth below, the exceptions or alternative program or product specific standards and procedures are explicitly stated in Programs and Products. Terms and acronyms used in this Handbook 4000.1 have their meanings defined in the Glossary and Acronyms and in the specific section of Handbook 4000.1 in which the definitions are located.