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NRMLA

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HUD Issues Guidance on HECM Advisor Program 

May 18, 2008By

NRMLA recently announced that the U.S. Department of Housing and Urban Development published Mortgagee Letter 2008-14, Home Equity Conversion Mortgage Program – Non FHA Approved Mortgage Brokers, which provides long-awaited guidance on the role of “advisors” in the HECM program. ML 2008-14 clarifies that “advisors” (referred to as non-approved entities or third parties) cannot be […]