The Worksheet and Mortgage Information sections contain monetary information and other supporting information that is integral to the processing of the insurance application. Incomplete or inaccurate information in these sections may impede successful processing of the insurance application and delay endorsement.

	The Maximum Claim Amount is the basis for the initial mortgage insurance premium and key to validating information during HECM Insurance Application processing. Ensure that the case information used by the system to calculate the Maximum Claim Amount is entered correctly.
	Note: A Maximum Claim Amount may be entered by the lender that does not exceed the system-calculated amount.
	Principal Limit cannot exceed the Maximum Claim Amount.
	The Property Value for a HECM refinance may be less than the Maximum Claim Amount on the prior case (effective August 3, 2007).
	The Origination Fee is the greater of $2,500 or 2% of the Maximum Claim Amount, up to a Maximum Claim Amount of $200,000, plus 1% of any portion of the Maximum Claim Amount that is greater than $200,000. This amount may not exceed $6,000; however, the lender may accept a lower origination fee when appropriate. See Mortgagee Letter 2008-34, HECM Origination Fee - New Limits.
	For HECM purchase cases, you must enter the Sale Price and Borrower Investment fields as they pertain to the property's first lien (leave these fields blank for all other HECM case types).