CAARMA INITIATIVES – 2018
 

1.   IMMEDIATE ACTION LETTER TO ALL BORROWERS

a.   Notify all Borrowers (and NBS) of requirements to remain in home.
b.   Plan in advance
c.   Qualifications, Requirements, Documentation

2.  REVERSE MORTGAGE SUITABILITY & FINANCIAL PLANNING GUIDE

a.   CFPB “Know Before You Owe” Video
b.   Create Suitability Guide and Financial Plan (Know if a reverse mortgage is right for you)

3.  REVERSE MORTGAGE CRITICAL TERMS EVERY BORROWER SHOULD KNOW

a.   Borrower Notification Letter

4.  BORROWER/HEIR REPAYMENT REQUIREMENTS

a.   Time & Repayment Options
b.   Legal Authority

5.   TAX AND INSURANCE DEFAULTS

a.   Repayment plans
b.   Help Programs