The Home Equity Reverse Mortgage Information Technology (HERMIT ) system is HUD's online, web-based automated system for monitoring and tracking of the Home Equity Conversion Mortgage (HECM) loan portfolio and automates insurance claim payments.
HUD manages the HECM portfolio through HERMIT by:
• Collecting MIP;
• Managing all servicing activities; and
• Paying insurance claims
Mortgagees must use the HERMIT system to report all servicing actions, and submit requests and required notices to HUD. Mortgagees must upload into HERMIT, copies of supporting documentation for all such actions, requests, and required notices.
HERMIT caps the Unpaid Principal Balance of a HECM as of the “Due Date”. All other allowable claim items must be itemized.
Detailed instructions for using HERMIT can be accessed at https://www.hud.gov/program_offices/housing/comp/hecm_hermit
HERMIT Help Desk - Servicing
Phone: (561) 899-2610
HERMIT Help Desk - Accounting
Phone: (844) 765-9427
HECM Policy Inquiries
– Servicing and Loss Mitigation:
Phone: (800) CALLFHA (225-5342)
– Claims: FHA_SFClaims@hud.gov
Mortgagee Letters 2015-10 and 2012-17 are available at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee