HECM Counselor Roster Eligibility RequirementsTo become FHA approved HECM counselors, they must meet a short list of criteria listed below:
- Have passed the National HECM Counseling Exam; Register at http://www.hecmexam.org.
- Have successfully completed at least one training course related to HECM counseling within the past two years;
- NOT be listed on the General Services Administration's Excluded Parties List System (EPLS), HUD's Limited Denial of Participation List (LDP), or HUD's Credit Alert Interactive Voice Response System (CAIVRS), and
- Be employed by a HUD-approved housing counseling agency.
What is Covered?The HECM counselors must cover the following items:
- Options other than a Home Equity Conversion Mortgage that are available to the borrower(s), including other housing, social service, health and financial options.
- Other home equity conversion options that are or may become available to the borrower(s), such as sale-leaseback financing, deferred payment loans, and property tax deferral.
- The financial implications of entering into a Home Equity Conversion Mortgage.
- A disclosure that a Home Equity Conversion Mortgage may have tax consequences, effect eligibility for assistance under Federal and State programs, and have an impact on the estate and heirs of the borrower(s).
National HECM reverse mortgage counselorsThese agencies are allowed to provide face-to-face and telephone counseling nationally. Please contact them to obtain HECM counseling.
|Agency Name||Website Link||
|National Foundation for Credit Counseling||Website||
|Money Management International||Website||
|Consumer Credit Counseling Svc of Atlanta||Website||
|National Council on Aging||Website||
|ClearPoint Financial Solutions||Website||
|Neighborhood Reinvestment Corporation||Website||