October 23, 2009
Mortgagee Letter 2009-44
TO: ALL APPROVED MORTGAGEES
ATTENTION: Single Family Servicing Managers
SUBJECT: Home Equity Conversion Mortgage (HECM) Program -- Clarification of Debenture Interest Calculation for HECM Claim Type 21; Claim Filing Instruction for HECM Claim Types 21 and 24
The purpose of this Mortgagee Letter is to provide clarification of the debenture interest calculation for HECM Claim Type 21 (Foreclosure or Deed-in-Lieu of Foreclosure). In addition, this Mortgagee Letter also provides updated filing instructions for HECM Claim Type 21, and for HECM Claim Type 24 (Supplemental)…
To read this mortgagee letter and any attachments in their entirety, please visit: http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/ view the 2009 letters and click on the letter of your choice. An index of FHA Mortgagee Letters from previous years can be found on the same page.
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HUD-FHA has more new career opportunities for qualified individuals. Recently posted online are the positions of:
Deputy Director, Office of Lender Activities and Program Compliance, Job Announcement Number: HQ285958-DEU: DUTY LOCATION: Washington DC
The HUD-FHA Job Vacancy Announcements are posted at www.usajobs.gov Please visit that website to view the announcements, additional information and to search for additional new HUD job listings as they are posted. HUD-FHA also has job opportunities in other locations around the nation. Please bookmark and revisit www.usajobs.gov frequently to see the new jobs as they appear online. Application forms can be found at: http://www.usajobs.opm.gov/forms.asp
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Treasury Grant Program for Financial Education and Counseling due November 19, 2009:
Through a new Financial Education and Counseling Pilot Program, the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund is making available grants for entities that provide a range of financial education and counseling services to prospective homebuyers…
More information on this new Grant Program Opportunity can be found at: http://www.hud.gov/offices/hsg/sfh/hcc/msgs/20091019.txt
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New FHA training and events around the nation:
November 2, 2009 - Bloomington, MN. Alternatives to Foreclosure for Housing Counselors. Sponsored by FreddieMac. This 1-day workshop provides housing counselors with an understanding about analyzing default situations to determine possible alternatives to foreclosure. It provides information about workout options (with an emphasis on short payoffs & mortgage modifications), applying Freddie Mac requirements, & exploring options that can help keep borrowers in their homes. Registration required, no fee. More info at: http://www.freddiemac.com/ontrack/html/LearningCenter/ClassDescription.jsp?crsNum=ATFHC
November 4, 2009 - Atlanta, GA. Endorsement Training for Loan Officers, Loan Processors and Post Closers. This course will cover endorsement processing guidelines from the initial case number assignment through issuance of mortgage insurance certificates (MIC) and include examples and instructions for accessing FHA Connection. Registration required, no fee. More info at: http://www.hud.gov/emarc/index.cfm?fuseaction=emar.addRegisterEvent&eventId=274&update=N
November 13, 2009 - Costa Mesa, CA. Southern California Foreclosure Housing Counselor Forum. A Peer to Peer Forum for HUD Approved Counseling Agencies. Sponsored by OCHOPC, HUD & NeighborWorks®. Learn about best practices, successful strategies & challenges in helping borrowers resolve delinquent mortgage situations, improve program results, loan modification programs & submission methods, an update from the National Foreclosure Mitigation & Counseling program (NFMC), & attend a roundtable discussion on mitigating the effects of being a foreclosure counselor & managing a foreclosure program. Registration required, no fee. More info at: http://www.hud.gov/offices/hsg/sfh/events/sca111309.pdf
November 13-16, 2009 San Diego, CA. National Association of Realtors Conference & Expo. FHA Commissioner David H. Stevens will address current issues including loan limits, condo rules, appraisals, and the solvency of the FHA insurance fund. Registration required, fee. More info at: http://www.realtor.org/Convention.nsf/
November 18-20, 2009 - San Diego, CA. National Reverse Mortgage Lenders Association Annual Meeting & Expo. Lenders, brokers & housing counselors welcome. Registration required, fee. More info at: http://www.nrmlaonline.org/
February 23-24, 2010 - Oklahoma City, OK. Early Delinquency Servicing & Loss Mitigation Program Training for HUD-Approved mortgagees, HUD-approved Housing Counselors & Nonprofit Housing Counselors. Registration required, no fee. More info at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm
May 18-19, 2010 - Oklahoma City, OK. Early Delinquency Servicing & Loss Mitigation Program Training for HUD-Approved mortgagees, HUD-approved Housing Counselors & Nonprofit Housing Counselors. Registration required, no fee. More info at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm
August 24-25, 2010 - Oklahoma City, OK. Early Delinquency Servicing & Loss Mitigation Program Training for HUD-Approved mortgagees, HUD-approved Housing Counselors & Nonprofit Housing Counselors. Registration required, no fee. More info at: http://www.hud.gov/offices/hsg/sfh/nsc/training.cfm
