Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on August 29, 2016, and provided it to me for research and response. RMS was unable to update your Successor Trustee identification as the first three documents received were the Trust...
Certification and a copy of the actual Trust was needed. Once RMS received the Trust signed by [redacted] [redacted] we updated our system to reflect you as Successor Trustee.
Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The loan became due and payable upon the death of [redacted] [redacted] on April 25, 2016. Enclosed is a copy of the Condolence Letter sent to the Estate of [redacted] [redacted] with information to satisfy the loan dated May 25, 2016. Below is the Creditor’s Rights listed on the Condolence Letter:
If the Loan is not satisfied pursuant to one of the options set forth herein above under Options to Satisfy the Loan within thirty days from the date of this notice, we will begin the process of foreclosure of the Property.
HUD guidelines require RMS to file first legal prior to the sixth month from the death date. In order to meet first legal, the loan is referred to foreclosure counsel three months prior to the six month deadline. As stated above, RMS may begin foreclosure proceedings after thirty days of notification of death. Below is [redacted] Acquisition Sale of the Property (d) Initiation of foreclosure:
(1) The mortgagee shall commence foreclosure of the mortgage within six months of giving notice to the mortgagor that the mortgage is due and payable, or six months from the date of the mortgagor's death if applicable, or within such additional time as may be approved by the Secretary.
If you need an extension to sell the property, please provide a Listing Agreement prior to RMS filing first legal. Once the Listing Agreement is received, we will forward to HUD for approval of a possible ninety day extension. RMS is currently in the process of requesting another Payoff Statement as the one previously forwarded to you expires on September 9, 2016. On
August 29, 2016, Ana C[redacted] (Default Supervisor) spoke with you and was going to send you a payoff breakdown and you informed her that you would not close until September 20, 2016. Ms. C[redacted] submitted another pay off request at that time. Below is a breakdown of fees on the Payoff Statement dated August 22, 2016:
Transaction Description [redacted] [redacted] Amount
Corporate Advance
Property Inspection 05/25/2016 $20.00
Property Inspection 06/22/2016 $20.00
Appraisal 06/28/2016 $400.00
Property Inspection 07/18/2016 $20.00
Property Inspection 08/17/2016 $20.00
Total $480.00
Outstanding Fees
Attorney Fees $2,216.25
Property Preservation $40.00
Total $2,256.25
It is imperative that you stay in constant communication with RMS as to when the foreclosure sale date is set. You have up to that time to satisfy the loan. At this time, a foreclosure sale date has not been set. Should you have further questions, you may contact Ana C[redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray G[redacted] Executive Resolution Analyst
(866) 799-7724
Enclosure: Condolence Letter
Reverse Mortgage Solutions (“RMS”) is an originator and servicer of reverse mortgages. We are not a collections agency, though we are legally obligated to identify ourselves as a debtor collector under certain circumstances. Your loan is a home equity conversion mortgage (“HECM”) more...
often referred to as a reverse mortgage. HECMs are backed by the Federal Housing Administration (“FHA”) and as a servicer, we’re required to follow FHA program guidelines. These guidelines (consistent with the terms of your loan documents) require you to provide us, among other things, proof of occupancy on an annual basis. Continued occupancy is a requirement of the program. Absent that proof, the loan is in default and RMS is required to call the loan due and payable and prospectively foreclose on the property. The three letters you received were meant to inform you of these facts. They were not an abusive tactic. Rather they were a reasonable attempt to communicate to you the status of your account and warn you regarding the consequences of your inaction. These warnings can sometimes be distressing, but are necessary to impart the seriousness of the situation.
Review of this account reveals that you have provided us with the proof of occupancy we required for 2015. That being the case, the loan is classed as current. Please note, the certificate of occupancy is dated November 23, 2015, more than three and a half months after we initially requested it (initial request dated July 30, 2015). Review of your account also revealed you responded sooner to our requests in previous years. September 26, 2013 for 2013 and October 6, 2014 for 2014. RMS would recommend that you respond in a timely manner to future certificate of occupancy requests which will come every year beginning in August. If you have questions, please contact the RMS Customer Service Department at 866-503-5559.
Dear Ms. [redacted]:
Your inquiry was provided to me for research and response. It appears that your inquiry references solicitations for business. As of the date of your inquiry RMS is no longer in the business of new reverse mortgage loans. RMS is a servicer of existing reverse mortgages...
only. RMS does not make telephone calls to consumers that are not already customers.
If you were to have a loan serviced by RMS, then a do not call list would not prevent calls from RMS in line with current business we have together. Should you have questions, you may contact the RMS Customer Service Department at (866) 503-5559.
Sincerely,
Noel [redacted]
Compliance Resolution Supervisor
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. This company has ruled and regulations that change on a whim. My first question to Ms. PROBST was: is there a time limit for the repairs to be completed? Her response was "not at all" instead of the proper answer which would have been "none at all except please note that you may not borrow against your account until the building is rebuilt" Each statement I receive shows a positive balance available. It has not been weather friendly to have excavating equipment on the property. As we have minimal funds to work wit we need to proceed with financial discretion. I do not accept this response.
Regards,
[redacted]
RMS received [redacted] check number [redacted] in the amount of $9,772.84 from [redacted] on May 21, 2015 and began processing. On May 29, 2015 [redacted] was advised of the same and agreed to provide copies of the signed invoice from his contractor...
and the [redacted]. RMS then provided [redacted] with the enclosed Loss Draft Introduction Letter including a Contractor Affidavit and Conditional Waiver of Lien, Repair Completion Affidavit, and IRS Form W9. Subsequently RMS issued a check for $4,886.00 on June 3, 2015 in order to begin the repairs on [redacted]'s home.
It appears that [redacted] was aware of the need for an inspection for the release of funds and that payment for the inspection would come from the amount paid by [redacted] since he chose to pay out of pocket for the completion of the repairs rather than request an additional draw. In any event, this is made clear on page one of the Loss Draft Introduction Letter. Now that the repairs are completed, RMS must inspect the repairs to confirm that they were completed according to the [redacted]. To that end an inspection was ordered on August 20, 2015. If the inspection determines that all repairs are 100% complete, RMS will issue payment for the inspection and a check to [redacted] for the remainder of insurance claim funds received.
Should you have questions, you may contact the RMS Loss Draft Administrator, [redacted], at [redacted], extension [redacted].
As noted in the inquiry the amount paid for the referenced property at foreclosure auction on March 3, 2015 was more than the total debt owed. The total debt was $153,348.95 and the sale price was $174,000.00 with an overpayment of $20,651.05.
The foreclosure auction was...
administered by foreclosure counsel for RMS, [redacted]. As part of their administration, [redacted] received the funds from the third-party buyer. [redacted] then issued payment to RMS in the amount of $153,348.95. As an officer of the court, [redacted] took the remaining funds in the amount of $20,651.05 and provided them for distribution to other lien holders, tax authorities, or any other entity that had a claim to property sale proceeds. Any funds that remain are subject to be paid to the Estate of [redacted].
RMS is not a party to the distribution of those funds in excess of the total debt since RMS has no claim to those funds. For information about the distribution of those funds, Ms. [redacted] may contact [redacted] directly by telephone at [redacted], by fax at [redacted], or by mail or in person at the following address:
Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on October 13, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”)...
reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The balance on the loan becomes due and payable upon the death of [redacted] on May 20, 2016.
As requested, RMS sent you a copy of your Payoff Statement good through October 31, 2016 on October 18, 2016, to your email address. Enclosed is a copy of this Payoff Statement for your review. Also enclosed is a copy of the Condolence Letter sent to the Estate of Faye [redacted] on
June 2, 2016, with information to satisfy the loan. Below is the Creditor’s Rights:
If the Loan is not satisfied pursuant to one of the options set forth herein above under Options to Satisfy the Loan within thirty days from the date of this notice, we will begin the process of foreclosure of the Property.
HUD guidelines requires RMS to file first legal prior to the sixth month from the death date. In order to meet first legal, the loan is referred to foreclosure counsel three months prior to the six month deadline. As stated above, RMS may begin foreclosure proceedings after thirty days of notification of death.
Below is HUD 24 CFR 206.125 Acquisition Sale of the Property (d) Initiation of foreclosure:
(1) The mortgagee shall commence foreclosure of the mortgage within six months of giving notice to the mortgagor that the mortgage is due and payable, or six months from the date of the mortgagor's death if appli[redacted], or within such additional time as may be approved by the Secretary.
As of the date of this letter, first legal has not been filed so please contact us as to what your intentions are with the property. If you need more time to sell, you must put in a request for a possible ninety day extension prior to first legal being filed. Our default representative listed below, will inform you on the requirements for a possible extension.
Should you have other questions, you may contact Ana [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted] Executive Resolution Analyst
(866) 799-7724
Enclosures: Payoff Statement
Condolence Letter
Dear Mrs. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com (Revdex.com) correspondence on August 22, 2016, and provided it to me for research and response. The Revdex.com is not authorized on this loan and is unable to negotiate or mediate on your behalf. All loan...
specific items should be directed to RMS. RMS was not a party of the closing nor did RMS have a representative at closing. This loan was service released form [redacted] f/k/a [redacted], on August 2, 2007.
We are unable to determine what you are requesting as the loan has an active status. As a way of background below is a breakdown of how funds were disbursed at closing:
• Principal amount of loan - $83,899.14
• Settlement charges – ($11,026.26)
• Settlement to Law Offices of [redacted] – ($49,673.14)
• City of Titusville – ($4,917.00)
• City of Titusville – ($381.80)
• Cash to borrowers – $17,900.94
RMS has no comment on any agreements you may have had with your son as the loan was originated by you and [redacted] only. There are also not three liens on the loan. Enclosed are copies of your Recorded Adjustable Home Equity Conversion Mortgage and Adjustable Rate Home Equity Conversion Second Mortgage.
Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). Under HECM terms you were not required to make monthly payments. The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
• A borrower dies and the property is not the principal residence of at least one surviving borrower;
• All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
• The property ceases to be the principal residence of the last surviving borrower;
• The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
• An obligation of the borrower under the security instrument is not performed, which includes:
o Failure to maintain the property
o Failure to maintain continuous hazard insurance on the property
o Failure to pay property taxes
You had previously did not obtain hazard insurance and RMS had to purchase to protect the property. You paid all this funds back in the form of a Repayment Plan. Once again, the loan has an active status. As you continue to adhere to the above situations, you may remain in the property for your lifetime.
There also appears that there was confusion about the Certification of Occupancy which is required per HUD to verify occupancy yearly. Enclosed is copy of the Second Certification of Occupancy sent to you on August 2, 2016. WARNING: “Section 1001 of Title 18 of the United States Code makes it a criminal offense to make a willfully false statement or misrepresentation
to any department or agency of the United States Government as to any matter within its jurisdiction.” Failure to send in the Certification of Occupancy signed will cause the loan to be called due and payable.
Should you have other questions, you may contact RMS Customer Service Department during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 503-5559.
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 503-5559
Enclosures: Recorded Adjustable Home Equity Conversion Mortgage
Adjustable Rate Home Equity Conversion Second Mortgage
Second Certification of Occupancy
HUD-1 Settlement Statement
Dear Mr. [redacted]:
Reverse Mortgage Solutions, Inc. (“RMS”) received your correspondence, provided by the Revdex.com (“Revdex.com”) on September 29, 2015. After research and review I have the following response.
RMS acknowledges the approved extension provided to you on June 23, 2015....
Additionally we are aware that the extension date was set to end on October 8, 2015. Based on this information, RMS is investigating the foreclosure action. RMS will follow up with you in fifteen (15) business days with our findings. Should you have questions, please contact RMS foreclosure counsel, Wright, Finley & Zak, at (949) 477-1402.
Sincerely,
Yladrea [redacted]
Paralegal
(877) 775-5014
Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on August 22, 2016, and provided it to me for research and response.
As you are aware, your package was delivered to the RMS mailbox. After trying to identify the checks (as we receive...
hundreds of checks daily), the checks were forwarded to [redacted]. Any complaints about where the package was delivered or reimbursements should be addressed with the [redacted]). Any further complaints sent to RMS will be directed to [redacted].
Should you have other questions, you must contact the [redacted].
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 503-5559
Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on August 29, 2016, and provided it to me for research and response. RMS was unable to update your Successor Trustee identification as the first three documents received were the Trust...
Certification and a copy of the actual Trust was needed. Once RMS received the Trust signed by [redacted] [redacted] we updated our system to reflect you as Successor Trustee.
Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The loan became due and payable upon the death of [redacted] [redacted] on April 25, 2016. Enclosed is a copy of the Condolence Letter sent to the Estate of [redacted] [redacted] with information to satisfy the loan dated May 25, 2016. Below is the Creditor’s Rights listed on the Condolence Letter:
If the Loan is not satisfied pursuant to one of the options set forth herein above under Options to Satisfy the Loan within thirty days from the date of this notice, we will begin the process of foreclosure of the Property.
HUD guidelines require RMS to file first legal prior to the sixth month from the death date. In order to meet first legal, the loan is referred to foreclosure counsel three months prior to the six month deadline. As stated above, RMS may begin foreclosure proceedings after thirty days of notification of death. Below is [redacted] Acquisition Sale of the Property (d) Initiation of foreclosure:
(1) The mortgagee shall commence foreclosure of the mortgage within six months of giving notice to the mortgagor that the mortgage is due and payable, or six months from the date of the mortgagor's death if applicable, or within such additional time as may be approved by the Secretary.
If you need an extension to sell the property, please provide a Listing Agreement prior to RMS filing first legal. Once the Listing Agreement is received, we will forward to HUD for approval of a possible ninety day extension. RMS is currently in the process of requesting another Payoff Statement as the one previously forwarded to you expires on September 9, 2016. On
August 29, 2016, Ana C[redacted] (Default Supervisor) spoke with you and was going to send you a payoff breakdown and you informed her that you would not close until September 20, 2016. Ms. C[redacted] submitted another pay off request at that time. Below is a breakdown of fees on the Payoff Statement dated August 22, 2016:
Transaction Description [redacted] [redacted] Amount
Corporate Advance
Property Inspection 05/25/2016 $20.00
Property Inspection 06/22/2016 $20.00
Appraisal 06/28/2016 $400.00
Property Inspection 07/18/2016 $20.00
Property Inspection 08/17/2016 $20.00
Total $480.00
Outstanding Fees
Attorney Fees $2,216.25
Property Preservation $40.00
Total $2,256.25
It is imperative that you stay in constant communication with RMS as to when the foreclosure sale date is set. You have up to that time to satisfy the loan. At this time, a foreclosure sale date has not been set. Should you have further questions, you may contact Ana C[redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray G[redacted] Executive Resolution Analyst
(866) 799-7724
Enclosure: Condolence Letter
Reverse Mortgage Solutions (“RMS”) is an originator and servicer of reverse mortgages. We are not a collections agency, though we are legally obligated to identify ourselves as a debtor collector under certain circumstances. Your loan is a home equity conversion mortgage (“HECM”) more...
often referred to as a reverse mortgage. HECMs are backed by the Federal Housing Administration (“FHA”) and as a servicer, we’re required to follow FHA program guidelines. These guidelines (consistent with the terms of your loan documents) require you to provide us, among other things, proof of occupancy on an annual basis. Continued occupancy is a requirement of the program. Absent that proof, the loan is in default and RMS is required to call the loan due and payable and prospectively foreclose on the property. The three letters you received were meant to inform you of these facts. They were not an abusive tactic. Rather they were a reasonable attempt to communicate to you the status of your account and warn you regarding the consequences of your inaction. These warnings can sometimes be distressing, but are necessary to impart the seriousness of the situation.
Review of this account reveals that you have provided us with the proof of occupancy we required for 2015. That being the case, the loan is classed as current. Please note, the certificate of occupancy is dated November 23, 2015, more than three and a half months after we initially requested it (initial request dated July 30, 2015). Review of your account also revealed you responded sooner to our requests in previous years. September 26, 2013 for 2013 and October 6, 2014 for 2014. RMS would recommend that you respond in a timely manner to future certificate of occupancy requests which will come every year beginning in August. If you have questions, please contact the RMS Customer Service Department at 866-503-5559.
Dear Ms. [redacted]:
Your inquiry was provided to me for research and response. It appears that your inquiry references solicitations for business. As of the date of your inquiry RMS is no longer in the business of new reverse mortgage loans. RMS is a servicer of existing reverse mortgages...
only. RMS does not make telephone calls to consumers that are not already customers.
If you were to have a loan serviced by RMS, then a do not call list would not prevent calls from RMS in line with current business we have together. Should you have questions, you may contact the RMS Customer Service Department at (866) 503-5559.
Sincerely,
Noel [redacted]
Compliance Resolution Supervisor
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. This company has ruled and regulations that change on a whim. My first question to Ms. PROBST was: is there a time limit for the repairs to be completed? Her response was "not at all" instead of the proper answer which would have been "none at all except please note that you may not borrow against your account until the building is rebuilt" Each statement I receive shows a positive balance available. It has not been weather friendly to have excavating equipment on the property. As we have minimal funds to work wit we need to proceed with financial discretion. I do not accept this response.
Regards,
[redacted]
RMS received [redacted] check number [redacted] in the amount of $9,772.84 from [redacted] on May 21, 2015 and began processing. On May 29, 2015 [redacted] was advised of the same and agreed to provide copies of the signed invoice from his contractor...
and the [redacted]. RMS then provided [redacted] with the enclosed Loss Draft Introduction Letter including a Contractor Affidavit and Conditional Waiver of Lien, Repair Completion Affidavit, and IRS Form W9. Subsequently RMS issued a check for $4,886.00 on June 3, 2015 in order to begin the repairs on [redacted]'s home.
It appears that [redacted] was aware of the need for an inspection for the release of funds and that payment for the inspection would come from the amount paid by [redacted] since he chose to pay out of pocket for the completion of the repairs rather than request an additional draw. In any event, this is made clear on page one of the Loss Draft Introduction Letter. Now that the repairs are completed, RMS must inspect the repairs to confirm that they were completed according to the [redacted]. To that end an inspection was ordered on August 20, 2015. If the inspection determines that all repairs are 100% complete, RMS will issue payment for the inspection and a check to [redacted] for the remainder of insurance claim funds received.
Should you have questions, you may contact the RMS Loss Draft Administrator, [redacted], at [redacted], extension [redacted].
As noted in the inquiry the amount paid for the referenced property at foreclosure auction on March 3, 2015 was more than the total debt owed. The total debt was $153,348.95 and the sale price was $174,000.00 with an overpayment of $20,651.05.
The foreclosure auction was...
administered by foreclosure counsel for RMS, [redacted]. As part of their administration, [redacted] received the funds from the third-party buyer. [redacted] then issued payment to RMS in the amount of $153,348.95. As an officer of the court, [redacted] took the remaining funds in the amount of $20,651.05 and provided them for distribution to other lien holders, tax authorities, or any other entity that had a claim to property sale proceeds. Any funds that remain are subject to be paid to the Estate of [redacted].
RMS is not a party to the distribution of those funds in excess of the total debt since RMS has no claim to those funds. For information about the distribution of those funds, Ms. [redacted] may contact [redacted] directly by telephone at [redacted], by fax at [redacted], or by mail or in person at the following address:
[redacted]
Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on October 13, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”)...
reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The balance on the loan becomes due and payable upon the death of [redacted] on May 20, 2016.
As requested, RMS sent you a copy of your Payoff Statement good through October 31, 2016 on October 18, 2016, to your email address. Enclosed is a copy of this Payoff Statement for your review. Also enclosed is a copy of the Condolence Letter sent to the Estate of Faye [redacted] on
June 2, 2016, with information to satisfy the loan. Below is the Creditor’s Rights:
If the Loan is not satisfied pursuant to one of the options set forth herein above under Options to Satisfy the Loan within thirty days from the date of this notice, we will begin the process of foreclosure of the Property.
HUD guidelines requires RMS to file first legal prior to the sixth month from the death date. In order to meet first legal, the loan is referred to foreclosure counsel three months prior to the six month deadline. As stated above, RMS may begin foreclosure proceedings after thirty days of notification of death.
Below is HUD 24 CFR 206.125 Acquisition Sale of the Property (d) Initiation of foreclosure:
(1) The mortgagee shall commence foreclosure of the mortgage within six months of giving notice to the mortgagor that the mortgage is due and payable, or six months from the date of the mortgagor's death if appli[redacted], or within such additional time as may be approved by the Secretary.
As of the date of this letter, first legal has not been filed so please contact us as to what your intentions are with the property. If you need more time to sell, you must put in a request for a possible ninety day extension prior to first legal being filed. Our default representative listed below, will inform you on the requirements for a possible extension.
Should you have other questions, you may contact Ana [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted] Executive Resolution Analyst
(866) 799-7724
Enclosures: Payoff Statement
Condolence Letter
Dear Mrs. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com (Revdex.com) correspondence on August 22, 2016, and provided it to me for research and response. The Revdex.com is not authorized on this loan and is unable to negotiate or mediate on your behalf. All loan...
specific items should be directed to RMS. RMS was not a party of the closing nor did RMS have a representative at closing. This loan was service released form [redacted] f/k/a [redacted], on August 2, 2007.
We are unable to determine what you are requesting as the loan has an active status. As a way of background below is a breakdown of how funds were disbursed at closing:
• Principal amount of loan - $83,899.14
• Settlement charges – ($11,026.26)
• Settlement to Law Offices of [redacted] – ($49,673.14)
• City of Titusville – ($4,917.00)
• City of Titusville – ($381.80)
• Cash to borrowers – $17,900.94
RMS has no comment on any agreements you may have had with your son as the loan was originated by you and [redacted] only. There are also not three liens on the loan. Enclosed are copies of your Recorded Adjustable Home Equity Conversion Mortgage and Adjustable Rate Home Equity Conversion Second Mortgage.
Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). Under HECM terms you were not required to make monthly payments. The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
• A borrower dies and the property is not the principal residence of at least one surviving borrower;
• All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
• The property ceases to be the principal residence of the last surviving borrower;
• The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
• An obligation of the borrower under the security instrument is not performed, which includes:
o Failure to maintain the property
o Failure to maintain continuous hazard insurance on the property
o Failure to pay property taxes
You had previously did not obtain hazard insurance and RMS had to purchase to protect the property. You paid all this funds back in the form of a Repayment Plan. Once again, the loan has an active status. As you continue to adhere to the above situations, you may remain in the property for your lifetime.
There also appears that there was confusion about the Certification of Occupancy which is required per HUD to verify occupancy yearly. Enclosed is copy of the Second Certification of Occupancy sent to you on August 2, 2016. WARNING: “Section 1001 of Title 18 of the United States Code makes it a criminal offense to make a willfully false statement or misrepresentation
to any department or agency of the United States Government as to any matter within its jurisdiction.” Failure to send in the Certification of Occupancy signed will cause the loan to be called due and payable.
Should you have other questions, you may contact RMS Customer Service Department during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 503-5559.
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 503-5559
Enclosures: Recorded Adjustable Home Equity Conversion Mortgage
Adjustable Rate Home Equity Conversion Second Mortgage
Second Certification of Occupancy
HUD-1 Settlement Statement
Dear Mr. [redacted]:
Reverse Mortgage Solutions, Inc. (“RMS”) received your correspondence, provided by the Revdex.com (“Revdex.com”) on September 29, 2015. After research and review I have the following response.
RMS acknowledges the approved extension provided to you on June 23, 2015....
Additionally we are aware that the extension date was set to end on October 8, 2015. Based on this information, RMS is investigating the foreclosure action. RMS will follow up with you in fifteen (15) business days with our findings. Should you have questions, please contact RMS foreclosure counsel, Wright, Finley & Zak, at (949) 477-1402.
Sincerely,
Yladrea [redacted]
Paralegal
(877) 775-5014
Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on August 22, 2016, and provided it to me for research and response.
As you are aware, your package was delivered to the RMS mailbox. After trying to identify the checks (as we receive...
hundreds of checks daily), the checks were forwarded to [redacted]. Any complaints about where the package was delivered or reimbursements should be addressed with the [redacted]). Any further complaints sent to RMS will be directed to [redacted].
Should you have other questions, you must contact the [redacted].
Sincerely,
Ray [redacted]. Executive Resolution Analyst
(866) 503-5559