A new servicing contractor has been approved by the Department of Housing and Urban Development for residential HUD-owned assets, including government-insured reverse mortgages and various subordinate mortgages.
The new loan servicing contract went into effect on March 1.
Assets insured by the Federal Housing Administration and held by the FHA single-family secretary are covered by the contract.
HUD said in Mortgagee Letter 2012-7 that DEVAL LLC is the approved contractor.
Assigned and subordinate home-equity conversion mortgages, secretary-held Title II mortgages and asset control areas mortgages will be handled by DEVAL.
The new contractor will also be responsible for subordinate mortgages such as partial-claim, Section 235 and Nehemiah as well as Emergency Homeowners Loan Program, Hope-for-Homeowners and Good Neighbor Next Door.
DEVAL’s mailing address is Westpoint I, Suite 300, 1255 Corporate Drive, Irving, Texas, 75038.
Its e-mail address for H4H payoff requests is [email protected], while HECM servicer inquiries can be sent to [email protected]. HECM property and preservation over allowable requests can be sent to [email protected], and Extensions and Variances Automated Requests System and E-Class assistance e-mails can be directed to [email protected].
The main phone number for DEVAL is 469.647.4450, and its fax number is 469.647.4451.
