HECM Counseling Certification Exam 2025 Questions and Answers
HECM Counseling Certification Exam 2025 Questions and Answers
Course:
HECM
Institution:
HECM
HECM Counseling Certification Exam 2025 Questions and Answers
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Uploaded on: | September 14, 2025 |
Last updated: | September 14, 2025 |
Number of pages: | 14 |
Written in: | 2025/2026 |
Type: | Exam (elaborations) |
Contains: | Questions & Answers |
Tags: | HECM Counseling Certification Exam 2025 Questions and Answers |
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HECM Counseling Certification Exam 2025 Questions and Answers Non-recourse - --Answer --Borrower has no obligation to pay back more than the value of the home Proprietary Reverse Mortgage - --Answer --A loan offered by a particular lender, not federally insured. Generally target homeowners with high home values How is loss risk controlled? - --Answer --Relating the total amount of the loan advances to the life expectancy of borrower (age), value of home, and cost of loan Federally-Insured Reverse Mortgage - --Answer --AKA Home Equity Conversion Mortgages (HECM) Single-Purpose Reverse Mortgages - --Answer --Offered by some state or local governments. for single purpose and loan cost is very low to moderate. Eligible Homeowners - --Answer --62+ years, occupy home as principal residence(at least 6 months a year), own home ....COPYRIGHT ©️ 2025 ALL RIGHTS RESERVED...TRUSTED & VERIFIED 1