Page 744
e. Endorsement and Post-endorsement (04/29/2024)
i. Endorsement
Upon successful completion of a pre-endorsement review by FHA, an electronic Mortgage Insurance Certificate (MIC) will be issued.
The HECM becomes insured on the date the MIC is issued.
ii. Post-endorsement
(A) Confirming Status of the Mortgage Insurance Certificate
The Mortgagee can confirm the endorsement status of a HECM using FHAC or the FHA Connection Business to Government (FHAC-B2G) application.
(B) Obtaining the Mortgage Insurance Certificate
When requesting the MIC, the Mortgagee must specify whether it is to be prepared in the name of the originator (principal) or authorized agent, as it appears in HUD systems.
The MIC will be issued electronically. The Mortgagee can download and print copies of the MIC as needed from FHAC.
(C) Corrections to the Mortgage Insurance Certificate
To obtain a correction to the MIC, the Mortgagee must submit the MIC Correction Request Template to the FHA Resource Center. This form may be used to correct the property address, Borrower name, ADP Code, interest rate, SSN, FHA case number, MCA, Principal Limit amount, or other information contained in the MIC.
(D) Corrections to Original Instruments
The Mortgagee must follow applicable local law when making corrections to the original instruments.
If new instruments are executed as required by local law, the Mortgagee must submit the new instruments prior to insurance endorsement.
Page 745
II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT B. Title II Insured Housing Programs Reverse Mortgages
7. Post-closing and Endorsement
(E) Partial Release of Security
FHA approval for partial release of security is required except in limited circumstances. See Servicing and Loss Mitigation for more information.
iii. HECM File Retention
The Mortgagee must retain their HECM file, including the case binder, in either hard copy or electronic format for a period of two years from the date of endorsement.
Page 746
II. ORIGINATION THROUGH POST-CLOSING/ENDORSEMENT B. Title II Insured Housing Programs Reverse Mortgages
8. Programs and Products - HECM For Purchase (11/10/2026)