Can a HECM counselor contact a lender for a copy of a client’s lender illustrations?
Date Published: September 2015
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.