No. Regulations prohibit payment of more than 100% of the maximum claim amount for any reason.
Novad Management Consulting
Shepherd Mall
2401 NW 23rd Street, Suite 1A1
Oklahoma City, OK 73107
Toll-Free Telephone Number: (800) CALLFHA (225-5342)
Fax Number: (800) 690-9826
HECM Borrower inquiries
customer.service@novadconsulting.com
HECM Servicer inquiries
hecm.servicing@novadconsulting.com
HECM Payoff requests:
hecm.payoffs@novadconsulting.com
Requests receiving by email or fax will generally be processed within 5 business days. Requests received by postal mail will generally be processed within 10 business days from receipt.
Federal Register 24 CFR 206.129(b) https://www.ecfr.gov/