2024 Education Calendar
Prepare for the New Year and download the 2024 ARS Education Calendar below.
HECM Loan Limit Raised
The U.S. Department of Housing and Urban Development announced they will be raising the loan limit for Home Equity Conversion Mortgages from its current level of $1,089,300 to $1,149,825 effective for FHA case numbers assigned on or after January 1, 2024. Our calculator has been updated to the new limit.
Meet the Funding & Disbursement Department
What is the Funding and Disbursement Department responsible for?
The Funding Department worked closely with the Settlement Team to take the file from the signing appointment all the way through disbursement. The executed documents are received daily and processed. We identify anything that may be missing or erroneously executed. The recording documents are pulled and an initial audit performed on the recording package. The file is then proper for disbursement with a particular emphasis on items being wired to ensure all funds are headed to the right place and via the correct method.
The Disbursement Department then receives the incoming wires, matches them to the correct file. Once disbursement is triggered, we perform a final and thorough audit of each item to ensure instruction and compliance are met. Finally, wires are initiated, checks are cut and shipped.
What characteristics make our Funding and Disbursement Department great?
We cannot be too detail oriented. One needs to be conservative enough to see compliance is always met, but progressive enough to see solutions that may not be obvious.
A note from the Manager…
If our industry was a sport, we would definitely be the defense. Millions of dollars pass through our department every day and it is up to us to ensure every cent gets to where it is supposed to go and stays out of the hands of fraudsters. Sadly, there bad-actors are only becoming more brazen and more sophisticated every day. Unlike the pros however, we can’t afford to be scored-on even once!
Happy Holidays – Office Closures
Wishing you a warm holiday season filled with lots of joy and amazing memories!
Our offices will be closed Christmas Day on Monday, December 25, 2023 and New Years Day on Monday, January 1, 2024.
Contact
TF: 844.808.8299
905 Highland Pointe Dr., Suite 150
Roseville, CA 95678
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