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Housing Counseling FAQ

Can a Home Equity Conversion Mortgage (HECM) lender place a call to a counseling agency while a client is present, and then put the client on the phone to set up an appointment?

Date Published: July 2008

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No. A lender cannot steer, direct, recommend, or otherwise encourage a client to seek the services of any one particular counseling agency for HECM counseling. Placing a call with or on behalf of a client to a counseling agency violates this requirement.

Tags: Housing Counseling Program Conflict of Interest