Page 1461
d. Communication with Borrowers and Authorized Third Parties (04/29/2024)
i. Definition
Authorized Third Parties refer to parties who are not Borrowers on the Mortgage but who are authorized to communicate with the Mortgagee regarding a Mortgage.
ii. Standard
The Mortgagee must provide mortgage information and arrange for individual consultation, upon request by the Borrowers.
The Mortgagee must comply with all laws, rules, and requirements applicable to third- party access to mortgage information.
iii. Required Documentation
If communicating with an Authorized Third Party, the Mortgagee must include documentation of the authorization in the servicing binder:
• a copy of a signed authorization from the Borrower;
• a copy of a Power of Attorney (POA), order of guardianship, or other legal documentation authorizing that third party to act on behalf of the Borrower; or
• other legal documentation showing authorization to access the Borrower’s records.
Page 1462
III. SERVICING AND LOSS MITIGATION B. Title II Insured Housing Programs Reverse Mortgages
1. Servicing of FHA-Insured HECMs