Tool Helps Streamline HECM Counseling Protocol Document Requirements

To help customers follow the new HECM Counseling protocols, Reverse Vision released to help facilitate the transfer of documents between lenders, borrowers, and counseling agencies.

The new reverse mortgage protocol from the Department of Housing and Urban Development requires that borrowers interested in reverse mortgages receive a large information package that includes individualized loan tables prior to their counseling session.

The documents can be sent by the lender or counseling agency and must include “Preparing for Your Counseling Session”, printout of loan comparisons and total Annual Loan Cost (TALC), loan amortization schedule, and the National Council on Aging (NCOA) booklet “Use Your Home to Stay at Home – A Guide for Homeowners Who Need Help Now”.

Through its loan origination system, lenders can share the documents with borrowers and counselors at no cost in an independent and anonymous manner says Reverse Vision.

“The new counseling protocol became effective over the weekend, but lenders and counselors are still looking for ways to address some of the new requirements,” said Thomas Martignoni, CEO of Reverse Vision.

When a lender generates documents from Reverse Vision, an access code is generated that allows counselors to bring up individual client information.  When a counselor meets with a client, the borrower provides the access code and a counselor can obtain documents tailored to the client from

According to Reverse Vision, even if a rogue user is able to guess the correct access code and download the anonymous copy, no personally identifiable information will be revealed, making the document irrelevant.  To see what the documents look like, users can visit the website and use the following information (access code: ABC123, initials: js).

Reverse Mortgage Counseling Association released a similar tool that is used by its member agencies.

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