Initial mortgage insurance premium (MIP or IMIP) is charged at closing. Annual MIP is also collected on a monthly basis over the life of the loan.

Use HUD's Home Equity Reverse Mortgage Information Technology (HERMIT) system for making HECM MIP payments (www.hermitsp.com). A user ID and password are required.

When the case has reached a certain stage of processing, Case Query on the FHA Connection provides the initial (upfront) MIP due and received amounts for the case.