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To combat churning some states require that refinance transactions have

Anti-Churning Disclosure - HUD 2026

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The document outlines the Home Equity Conversion Mortgage (HECM) process, specifically focusing on the Anti-Churning Disclosure required by the U.S. Department of Housing and Urban Development (HUD). It mandates lenders to provide borrowers with detailed information about refinancing costs, potential new mortgage limits, and available funds to prevent irresponsible lending practices known as 'churning.' The disclosure aims to ensure that borrowers are informed about the financial implications of refinancing their HECM mortgages.

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Click ‘Get Form’ to open the Anti-Churning Disclosure - HUD in the editor.
Begin by entering the total cost of refinancing in the designated field. This includes the upfront MIP, closing costs, and servicing set-aside.
Next, input the increase in your principal limit. Calculate this by subtracting your current HECM principal limit from the estimated initial principal limit of the new mortgage.
Provide an estimate of funds available to you after deducting closing costs from the new principal limit. Ensure all calculations are accurate for clarity.
Fill in your FHA Case Number and Subject Property Address as required.
Both you and your lender must sign and date the form at the bottom to finalize it.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is Section 255 of the National Housing Act?

In accordance with Section 255 of the National Housing Act, lenders must provide homeowners seeking to refinance a HECM with information on the total cost of the new mortgage, based on the projected total future loan balance.

What is a HUD closing disclosure?

The HUD Prepayment Disclosure is a required document that tells you about the difference between your principle balance and the actual payoff balance. It explains if you want to pay it off, this is how much it may cost. The disclosure may appear to be a payoff statement; however, it is not.

What happens when a reverse mortgage is turned over to HUD?

A Closing Disclosure is a five-page form that provides final details about the mortgage loan you have selected. It includes the loan terms, your projected monthly payments, and how much you will pay in fees and other costs to get your mortgage (closing costs).

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