All cases must meet basic requirements before HECM Insurance Application can be successfully processed. Additional requirements may apply depending on information entered. (See also Endorsements by LI Lenders, Lender Insurance (LI) Reverse Requirements.)

Basic Requirements

	Borrower information must be complete and validated before endorsement.
	The property must have a valid street address. If necessary, use Borrower/Address Change to change address information.
	The appraisal must be performed and recorded in Appraisal Logging. (See WINK, Appraisal Logging.)
	Both HECM Financial Assessment and Appraisal Logging must be completed before entering information in HECM Insurance Application.
	Upfront (initial) mortgage insurance premium (MIP), if applicable, must be paid.
	Underwriter information must comply with HUD business rules. (See Underwriters.)
	A Housing Counseling Agency ID is required unless waived for a HECM refinance case.
	A HECM refinance loan cannot be endorsed until FHA insurance on the prior loan is terminated.