HUD Newsletter Oct 3, 2006

 

HUD Reverse Mortgage PhotoID Requirements Eliminated

FHA modified the FHA Connection to perform social security number validation checks, against the Social Security Administrations database, to help reduce the occurrence of identity theft and fraud in FHA programs.  This validation check, coupled with evidence of the borrowers age, has proven to be an effective tool to verify the identification of a prospective HECM borrower and eliminates the need for photo identification.