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d. Certificate of HECM Counseling (04/29/2024)
i. Standard
The HECM counselor must provide the Borrower, NBS, Non-Borrowing Owner, and legal representative with a Certificate of HECM Counseling once counseling is successfully completed. A Certificate of HECM Counseling must be signed and dated by the HECM counselor and the individual(s) required to receive counseling. The Certificate of HECM Counseling may bear the name of one or more individuals required to receive counseling.
(A) Handling of Certificate of HECM Counseling
Mortgagees may accept a copy of the signed and dated Certificate of HECM Counseling, from the HECM counselor or the individual(s) required to receive counseling that has been faxed, mailed, or electronically transmitted.
The Mortgagee may merge two separately signed and dated copies of the Certificate of HECM Counseling that are received via fax, mail, or electronically from the HECM counselor and/or the individual(s) required to receive counseling to create one document.
(B) Age of Certificate of HECM Counseling
The Certificate of HECM Counseling remains valid for a period of 180 Days from the date that counseling was completed.
(C) Restrictions on Beginning Loan Processing and Ordering the FHA Case
Number
Mortgagees may not charge the Borrower any fees or proceed with processing the HECM loan application until they receive the Certificate of HECM Counseling, signed and dated by the HECM counselor and all individuals required to receive HECM counseling.
The Mortgagee and sponsored TPOs may only request corrections to the Certificate of HECM Counseling up until the HECM is endorsed. The Mortgagee must contact the HECM counselor regarding corrections to the Certificate of HECM Counseling.
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II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT B. Title II Insured Housing Programs Reverse Mortgages
2. Origination/Processing
Mortgagees may not request the FHA case number until they receive the Certificate of HECM Counseling. See Ordering Case Numbers for additional information.
ii. Required Documentation
The Mortgagee must obtain a copy of the Certificate of HECM Counseling signed and dated by each individual required to receive counseling and the HECM counselor.