Reverse Mortgage Process
COUNSELING: You will need to have a counseling appointment with a counselor in your area
before I can take your application. This is always free of charge and many times the counselor will come out to your
home so you don’t have to drive. He/she will visit with you for approximately 20 minutes to make sure I have explained
the program properly to you. I have supplied you with a list of counselors for you to choose from. Please make sure
you request the HECM counseling. I will need the ORIGINAL CERTIFICATE at application.
Counselors
Company Name: _____________________________________________
Counselors Name: _____________________________________________________
Phone
Number: _______________________________________________________
Appointment date and Time: _____________________________________________
APPLICATION:
I will come to your home and go over everything with you. If at that time, you wish to start your everse Mortgage, we
can. Many people like to read what I leave them and digest what I told them prior to doing any paperwork at
the inital meeting. I will meet with you again to take your application and we will get started.
APPRAISAL:
I will have an FHA appraiser contact you in the coming days to set up a time to visit your home. This should only take
approximately 15-20 minutes in the home. He is there to establish the value of your home in comparison with the similar
homes in the area. FHA does not allow you to order the appraisal.
Name of Appraisal Company: ___________________________________________
Phone
Number: ______________________________________________________
Date of inspection: ___________________________________________________
After the appraisal is complete, it goes to the underwriter and should take about two weeks for the closing.
When
your loan closing documents are sent to the title company they will give you a call to set up a convenient time for your closing.
After
the loan closes you may be receiving proceeds from the loan. Your title company will arrange how to get these funds
to you.
Of course during this process should you have any questions please do not hesitate to call me! You can
reach me at 520-917-5626, the office line or my cell at 520-440-4387 or toll free at 1-800-459-2929. If you have
access to email, feel free to contact me at robin.loomis@hleloans.com
Thank you for putting your trust in me I will work very hard to make sure I have earned that trust.
Most Sincerely,
Robin
Loomis
Reverse Mortgage Executive
FirstMagnus Corporation
Notes: _________________________________________________
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