What date must be entered in Block 9 of the claim form for HECM Claim Type 21?

For a Home Equity Conversion Mortgage (HECM) Claim Type 21, the Mortgagee must insert in Block 9 on the claim form (“Date of Possession and Acquisition of Marketable Title”) the later of either:

  • the date of possession, when eviction is required;
  • the date of the foreclosure sale;
  • the date title is obtained by a third-party bidder; or
  • the date the Redemption Period, if applicable, has ended.

For more information see Mortgagee Letter 15-10 available at https://www.hud.gov/program_offices/administration/hudclips/letters/mortgagee
 
Any additional questions may be directed to the FHA Resource Center at Toll-Free (800) CALLFHA (225-5342) or by email to answers@hud.gov. Persons with hearing or speech impairments may reach this number by calling the Federal Information Relay Service at (800) 877-8339.


All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.


Topic Number: KA-02422