Servicing reverse mortgages is distinctly different form servicing "forward" mortgages.
And, most reverse mortgage portfolios today are comprised of FHA-insured HECM loans. Failure to properly service, perform loss mitigation and foreclosure on such mortgages can increases losses and impair mortgage insurance claims. This OnDemand Webinar will assist persons responsible for servicing reverse mortgages in identifying proper loss mitigation and foreclosure procedures in order to lessen the impact of such foreclosures while preserving the right to full FHA claims. This program is critical for reverse mortgage servicers to keep up to date with the most recent FHA guidance on HECM servicing issues, and state law developments on foreclosures impacting reverse mortgages.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview of Reverse Mortgages
- Demographics, Economics and Markets
- No Credit Underwriting (Yet); No Required Monthly Repayment Obligations of Principal and Interest
- Origination Practices That May Prevent or Reduce Reverse Mortgage Defaults
Reverse Mortgage Maturities and Reasons for Default
- Maturity Events
- Obligations of the Borrower - Taxes, Insurance, Repairs and Property Maintenance
Reverse Mortgage Foreclosure and Loss Mitigation
- Required Reverse Mortgage Loss Mitigation
- Reverse Mortgage Foreclosure
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on December 8, 2011.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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