• RMS adheres to the maximum HECM Adviser fee of roughly 25% of the total loan origination fee. HECM Advisers earn up to $1800 for services to reverse mortgage clients.
  
  
• RMS provides all training, takes all applications and handles all loan processing. Non-FHA approved brokers are not permitted to “touch FHA paper”.
  
  
• NOTE: The following guidelines apply to the FHA/HUD HECM product only.
  
  
• You must be licensed to broker 1st lien reverse mortgage loans in all states in which you do business, unless exempt by state law, or unless the state doesn’t require licensing.
  
  
• You must be retained, in writing, by the client to provide assistance for a fee. The fee, disclosed to the applicants and others, as required by law, is disbursed by the settlement agent (per HUD1) to you at loan funding. The payment of fees directly from the borrower or the originating lender is expressly prohibited.
  
  
• RMS will use best efforts to assure compliance by monitoring and reviewing loan files, but it cannot be responsible for HECM Adviser performance and relationships.

1. NO monthly repayment required. Only when the client no longer lives on their property is the loan to be repaid.
2. Cash received is NOT taxable and does NOT affect regular Social Security or Medicare.
3. Ownership is retained. The clients can live in their home as long as they wish.
4. The lien attaches to the PROPERTY ONLY.
5. Flexible program allows for a lump sum payment, line of credit, monthly checks, or combination.
6. Government requires FREE independent counseling prior to loan application.