In this year’s grant application, I indicated that my agency would provide default counseling to reverse mortgage/HECM clients. How do I report this information?
Date Published: March 2019
HUD collects grant reports throughout the period of performance. When submitting your progress report and requesting drawdowns, agencies providing reverse mortgage and Home Equity Conversion Mortgage (HECM) default counseling should include a short narrative indicating: (1) the name of counselors providing such services, (2) the title and duration of any reverse mortgage trainings taken during the three years prior to the end of the period of performance, and (3) the total number of HECM default clients who have received counseling during the period of performance.
Currently, HUD-9902 Section 9 does not have a separate category for HECM default clients, so agencies providing HECM default counseling will need to report such clients under item 9f (Resolving or Preventing Mortgage Delinquency or Default). Additionally, such agencies must provide the information outlined above to their HUD POC during grant quarterly reporting.
If funded for default counseling in FY 2018, agencies are reminded that they must counsel a minimum of ten HECM Default clients per year, starting October 1, 2018 to September 30, 2019, to remain eligible for the award bonus.