What Should I and My Client Expect Next?

Next Steps

After we receive the Client Information and Financial Goals/Strategy information. We will prepare a HECM Benefits Analysis

HECM Benefits Analysis (To Advisor)

What are the Clients Financial Goals and Objectives

What are the Alternatives that Exist

What Does the HECM Provide that Helps Achieve these Goals

Client Conversation and Next Steps

If Advisor approves of the overall concept and approach to the HECM

We will ask to be introduced to the Client via Telephone

We will Review the HECM program as Well and the Ways the Tool can be used to Improve their Retirement Outcomes

After that Conversation, together with the client we will determine the most approriate Next Steps

  • Continue the conversation in a few days or weeks as they reflect and need time to review
  • Direct them to speak to a FHA/HUD Approved Agency for Required Reverse Mortgage Counseling because they would like to take the next steps.
    {This is typically done by telephone after the client receives the package from the Lender}

Application Process

Once the client determines they are ready to proceed and has completed their mandatory FHA/HUD Counseling we will choose the best application process for them

  • {Most Popular} Prepare an application and Overnight it to client and then schedule a phone appointment to walk throguh signatures.
  • Have a Signing notary meet them at the house and walk through the signatures
  • Have a local loan originator meet with them to complete the paperwork

Processing and Underwriting

Once the loan signatures are collected as well as the corresponding documentation (Photo ID, Social Security, Bank Statements etc) the appraisal will be ordered, as well as a title search. This process from this point will take around 4-6 weeks under normal circumstances


After all the T’s are crossed and the I’s dotted, the loan will close in the location of the borrowers choosing, ususally its in their homes