Housing Counseling FAQ
Q

Can a HECM counselor contact a lender for a copy of a client’s lender illustrations?

Date Published: September 2015

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A

No. Mortgagee Letter 2004-25 prohibits housing counseling agencies from promoting, representing, recommending or speaking for any specific lender. Contacting a lender for illustrations violates this prohibition. If a client wishes to review a particular lender’s illustrations with a counselor, he or she must contact the lender and request the illustrations.


Tags: Housing Counseling Program HECM Counseling Requirements

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FAQ ID:

2573