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Home Equity Conversion Mortgages for Lenders (HECMs)

Mandatory Obligations Instructions and HERMIT System Changes
Effective for new HECM case numbers assigned on and after March 10, 2014, mortgagees must use the Mandatory Obligations Instructions for FHAC - Calculator and the HERMIT System Changes-Release 3.7 to accurately enter the amount of Mandatory Obligations in FHAC and the HECM Calculation Software (if applicable), and to initiate the collection of the Initial Mortgage Insurance Premium in HERMIT by matching data sent from FHAC to specific data fields located on HERMIT’s Loan Setup screen.

The purpose of this page is to help FHA approved lenders by providing links to policy, guidance and tools that help in the origination and servicing of HECM loans.




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