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HUD revises HECM Financial Assessment GuidelinesDear Licensed Partner, On July 13th 2016, The U.S. Department of Housing and Urban Development (HUD) released a Mortgagee letter 2016-10, which announced further changes related to the HECM Financial Assessment and Property Charge Set Asides guidance. These changes will be effective for case numbers assigned on or after October 03rd 2016. Below are some of the important excerpts from the Mortgagee letter.
If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693. Sincerely,
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