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Lender Alerts

Lender Alerts

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Update: HECM Loans with Non-Borrowing Spouse

Dear Licensed Partner,

Effective for FHA case numbers assigned on or after 08/04/2014, Sun West is accepting HECM Loans with non-borrowing spouse. HECM Loans with non-borrowing spouse must comply with all FHA’s requirements as specified in the Mortgagee Letter 2014-07 including but not limited to: 

  • The non-borrowing spouse can be under 62 years of age, provided that the borrower meets the HECM eligibility requirement of 62 years of age.
  • The principal limit will be based on the age of the youngest borrower and non-borrowing spouse. For example, if the borrower is 62 years old and the non-borrowing spouse is 55 years old, the principal limit will be based on the 55-year-old non-borrowing spouse.
  • The non-borrowing spouse must attend the HECM Counseling Session with the borrower and sign and date the HECM Counseling Certificate.
  • A proof of date of birth of the non-borrowing spouse must be submitted along with the application package.
  • The borrower and the non-borrowing spouse must sign the certifications as required by the Mortgagee Letter 2014-07 at closing.

Sun West, with its licensed partners, takes pride in providing senior citizens with the increased ?exibility needed to plan for retirement and ?nancial security.

If you have any questions, please contact your Client Relations Manager at (855) OK-SUNWEST or (855) 657-8693.    


Sun West Mortgage Company, Inc.
18303 Gridley Road
Cerritos, CA 90703
Phone : (800) 453-7884

Equal Housing OpportunityThis information is provided to licensed brokers/lenders only and may not be copied or distributed to customers or potential customers. All loans are subject to approval. Certain restrictions may apply. Listed pricing is a morning indication only. Program rates, prices, guidelines, fees, costs, terms and conditions are subject to change without notice.