Can a fee be assessed for counseling other related parties in connection with a potential HECM borrower?
Date Published: September 2015
Ideally, all parties including the client would participate in the same counseling session. However, if that is not feasible and another session is required to counsel other related parties, then yes the counseling agency may charge a fee for each separate session. However, the additional fees fee cannot be charged to the potential Home Equity Conversion Mortgage (HECM) borrower.