The article discusses the implications of the potential closure of HUD's field office in Tulsa, which plays a significant role in administering the Home Equity Conversion Mortgage (HECM) program. Functionality may transfer to Texas, risking efficiency. The National Servicing Center (NSC) in Tulsa handles crucial tasks, including HECM servicing inquiries and policy work related to insurance claims. The president of the American Federation of Government Employees raises concerns over legality, asserting that federal law requires an office in each state for processing mortgage insurance.
"The NSC is vital to the HECM program, handling inquiries and policy work from 2015 to 2018, emphasizing its role in safeguarding FHA homeowners against foreclosure."
"Antonio Gaines of AFGE argues that HUD's office closures would violate federal law, highlighting that the U.S. Code mandates at least one office per state for mortgage insurance processes."
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