Notice
Due to the lapse in Congressional Appropriations for Fiscal Year 2019, the U.S. Department of Housing and Urban Development (HUD) is closed. This website is supported by a cooperative agreement funded under a prior appropriation. Current functions will remain operational but no new functions will be added during the lapse in appropriations. For more information, see HUD Contingency Plan for Possible Lapse in Appropriations.
Housing Counseling FAQ
Q

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

Date Published: September 2015

Print ShareThis

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

Links in This FAQ

FAQ ID:

2573