HUD/FHA

HUD Mortgagee Letter 2016-05, Additional Guidance Related to Mortgagee Letter 2015-15, Mortgagee Optional Election (MOE) Assignment for Home Equity Conversion Mortgages (HECMs) with an FHA Case Number Assigned Prior to August 4, 2014

This HUD HECM letter (Feb. 12, 2016) is sent because FHA has been advised that certain states’ probate procedures may impede a Non-Borrowing Spouse’s ability to obtain legal title or establish the legal right to remain in a property securing a HECM prior to the deadline for a mortgagee to complete its assessment following its MOE Assignment election (required by Mortgagee Letter 2015-15).

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