About HECM Insurance Application
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  Preparing to Use the HECM Insurance Application Form  
  Upfront (Initial) Mortgage Insurance Premium (MIP)  
  The upfront mortgage insurance premium (a.k.a., initial MIP) amount due should be completely paid before entering HECM Insurance Application information. If the entire amount is not paid, you are able to enter HECM Insurance Application information, but will receive a Notice of Return (NOR) message regarding insufficient MIP.
 

Note: A case cannot be endorsed for FHA insurance until seven business days or more have elapsed since the initial MIP payment was received by HUD and reported to HUD's Origination system, CHUMS. (The seven-day waiting period begins when CHUMS receives the initial MIP payment information.) Use Case Query to help determine when the case can be endorsed.

 
Topics
  
  Preparing to Use the HECM Insurance Application Form  
  bullet Purpose  
  bullet HECM Insurance Application Authorization  
  bullet Information Sources  
  bullet Requirements  
  bullet Upfront (Initial) Mortgage Insurance Premium (MIP)  
  bullet Underwriters  
  Completing the HECM Insurance Application Form  
  bullet User Aids  
  bullet Tips for Entering General Information  
  bullet Tips for Entering Worksheet and Mortgage Information  
  bullet Tips for Changing Borrower
Information		  
  HECM Insurance Application - Accepted or Rejected?  
  bullet Determining Insurance Application Status  
  bullet Retrieving Mortgage Insurance Certificate (MIC) Information  
  bullet Resolving a Notice of Return (NOR)