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What is the processing time for HECM?

How long does it take to process HECM? by Eliezer Drapiza from Skokie, Illinois. Dec 24th 2009 Reply


Leo Harvey (LHARVEY)
#6 ranked lender in Pennsylvania - 146 contributions

I am the Branch Mgr for an FHA approved direct lender and I just happen to be the Reverse Mortgage Specialist for the branch. The processing time is approximately 30-40 days which includes the counseling time and the appraisal time both of which can take up to 2 weeks to complete. The process itself is not time consuming but the government requires that the third party services be completed independently from the lender. Those processes take the most time but if you provide the documents asked for as quickly as possible the process can be completed quickly.

Dec 26th 2009
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Dec 24th 2009
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