New Enhancements to DirectConnect to betterservice the industry.
Dear Reverse Mortgage Lender,DirectConnect would like to address the industry as it relates to some misinformation that has been circulated. HUD has not published any guideline or Mortgagee Letter that prohibits the use of DirectConnect.
In fact, for the last 2 years, HUD has supported the DirectConnect system and allowed the industry to use the DirectConnect System to assist seniors in receiving their required HECM counseling.
HUD has included DirectConnect as a CARS compliant vendor on its website for agencies to use when performing reverse mortgage counseling sessions. DirectConnect is RESPA compliant and meets all HUD HECM counseling policies and procedures.
For several months the DirectConnect staff and National Housing Counseling Association (NHCA) management have worked together diligently to enhance DirectConnect to meet and exceed the expectations of the new proposed HUD HECM Counseling protocol.
New features in DirectConnect will include:
Greater payment options for seniors.
Payment at time of counseling.
Credit Card/Debit Card
Check by phone (ACH)
MoneyGram™
Payment at closing for seniors who cannot afford to pay up front.
NEW Counseling Instruction Package. (Includes three ways to obtain counseling and counseling list)
Clients sign authorization form to be counseled by a HUD approved NHCA member agency.
Senior self registration for counseling by a HUD approved, NHCA member through the NHCA web site and Direct Connect system.
Clients can call a HUD approved NHCA agency from the counseling list provided on the NHCA web site.
In each way above, you should still register your clients into DirectConnect so you can monitor the status of their counseling and print certificates.
Counseling list. You will be able to print a counseling list for each state for your seniors in order to help you stay compliant per HUD guidelines.
NEW FACE to FACE counseling network.
You will be able to provide local/state agencies using the NHCA web site and Direct Connect System.
And much more! We will be hosting conference calls starting on November 3, 2008 at the following times: (Note all times listed are Pacific Time)
7:00 AM · 9:00 AM · 11:00 AM · 1:00 PM · 3:00 PM
11/03/2008 · Monday
11/05/2008 · Wednesday
11/07/2008 · Friday
8:00 AM · 10:00 AM · 12:00 PM · 2:00 PM · 4:00 PM
11/04/2008 · Tuesday
11/06/2008 · ThursdayConference Dial-in Number: 512-597-6050 Conference Guest Code: 613201#We urge you to attend these conference calls so your company can stay compliant with HUD guidelines. We look forward to serving you all in the future and hope to see you at the NRMLA conference!
