HECM Counselors

HECM Counselor Roster Eligibility Requirements

To 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:

1. Options other than a Home Equity Conversion Mortgage that are available to the borrower(s), including other housing, social service, health and financial options.
2. 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.
3. The financial implications of entering into a Home Equity Conversion Mortgage.
4. 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).