FHA Issued Partial Temporary Waiver to Permit Flexibility in Submission of HEConversion Mortgage Original Documents and Endorsement  

The Federal Housing Administration (FHA) yesterday issued a partial temporary waiver that permits Home Equity Conversion Mortgage (HECM) mortgagees to send the original hard copy Loan Agreement and exhibits directly to Compu-Link, FHA’s HECM servicing contractor, instead of sending them directly to the jurisdictional Homeownership Center (HOC) in the FHA case binder. This change is designed to eliminate unnecessary costs and transfers of the original Loan Agreement. 

With this waiver, mortgagees have the option to submit the original Loan Agreement and related exhibits (Schedule of Closing Costs and Liens, Payment Plan, and Repair Rider, if applicable) directly to Compu-Link at: 14002 East 21st Street, Suite 300 Tulsa, OK, 74134.   

Mortgagees choosing to send the original Loan Agreement and exhibits directly to Compu-Link must still include two PDF copies of the Loan Agreement and related exhibits in the FHA endorsement case binder submitted to the HOC for an insuring decision. 

If the mortgagee chooses not to send these documents directly to Compu-Link, they not only are required to send hard copies of the original Loan Agreement and related exhibits, but they must also send two additional hard copies of the Loan Agreement and related exhibits to the HOC, as required by the current case binder stacking order published in Mortgagee Letter 2014-22, Attachment 1. 

The HOC will then submit these hard copy documents to Compu-Link on their behalf.