Compliance

This section provides resources for regulatory compliance in reverse mortgage lending.

Compliance Guides

• HMDA Compliance - How to generate and submit HMDA LAR reports
• Mortgage Call Reports (MCRs) - Quarterly MCR generation and NMLS submission
• Managing Licensing - Loan officer licensing management
• Signature Management - Digital signature handling

Model Loan Documents (Provided by HUD)

HUD provides model loan documents for HECM loans. These documents are available for reference:

Adjustable Rate HECM Documents

• Borrower and NBS Certifications
• HECM Adjustable Rate Payment Plan
• HECM ARM Model Loan Agreement
• HECM ARM Model Mortgage
• HECM ARM Model Repair Rider
• HECM ARM Model Second Mortgage
• HECM ARM Note
• HECM ARM Second Note

Fixed Rate HECM Documents

• HECM Fixed Rate Model Loan Agreement
• HECM Fixed Rate Model Mortgage
• HECM Fixed Rate Model Note
• HECM Fixed Rate Model Repair Rider
• HECM Fixed Rate Payment Plan

Other HECM Documents

• HECM Notice to Borrower
• HECM Schedule of Closing Costs
• Model FA Worksheet

Proprietary Loan Documents

• HomeForLife Notes - HomeForLife proprietary loan documents

External Compliance Resources

HUD Resources

• HUD 4000.1 Handbook - The official guide for HECM loans
• HECM Model Loan Documents - HUD-provided HECM model loan documents
• HUD HECM Calculator - Tool for calculating HECM loan amounts

Regulatory Resources

• 12 CFR Part 206 - Code of Federal Regulations for HECM program
• CFPB HMDA Resources - HMDA reporting resources
• NMLS Resource Center - NMLS licensing and reporting resources

Compliance Best Practices

1. Stay Current: Keep up with regulatory changes
2. Document Everything: Maintain complete records
3. Regular Reviews: Conduct regular compliance reviews
4. Training: Ensure staff is trained on compliance requirements
5. Consult Experts: Consult compliance experts when needed

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For questions about compliance, contact your administrator or refer to regulatory resources.