HECM

Liberty University

Here are the best resources to pass HECM. Find HECM study guides, notes, assignments, and much more.

All 5 results

Sort by

Reverse Mortgage (HECM) or Home Equity Conversion mortgage
  • Reverse Mortgage (HECM) or Home Equity Conversion mortgage

  • Exam (elaborations) • 1 pages • 2023
  • How old do you have to be to qualify for a Reverse Mortgage correct answer: 62 years or older Who retains ownership of the property correct answer: The Borrower When is the Reverse Mortgage due correct answer: When the owner sells the home or dies What is the minimum credit score to qualify correct answer: No minimum credit score What is the minimum DTI to qualify correct answer: No minimum DTI (no income verification) Why is there no minimum DTI/Credit score to qualify for a...
    (0)
  • $5.49
  • + learn more
HECM set questions with verified answers
  • HECM set questions with verified answers

  • Exam (elaborations) • 5 pages • 2023
  • List 3 items of information or materials that you need for an assignment correct answer: Fireline Pack, IRPG, Fiber Tape List 3 items on a resource order correct answer: Incident Name, Incident Order #, Transportation Arrangements What are the two most important parts of the check-in process correct answer: Checking in at ICP, Getting a solid brief List 5 items pf information you should receive in your initial briefing from the Incident Supervisor correct answer: IAP, Medical Plan, ...
    (0)
  • $12.99
  • + learn more
hecm study guide questions with complete solutions
  • hecm study guide questions with complete solutions

  • Exam (elaborations) • 2 pages • 2023
  • A client who is disabled due to medical malpractice reports that he has $4,000 per month income from a settlement, and $50,000 in a retirement account. The counselor is required to: correct answer: HECM Counseling Protocol 5.B.7.c; The Protocol specifically requires Benefits CheckUp be completed if the borrower's is below 200% of poverty level or if the borrower is disabled. This is specifically stated in the HUD regulations The initial interest rate on an adjustable-rate HECM is based on: ...
    (0)
  • $7.99
  • + learn more
HECM Test| 142 QUESTIONS| WITH COMPLETE SOLUTIONS
  • HECM Test| 142 QUESTIONS| WITH COMPLETE SOLUTIONS

  • Exam (elaborations) • 19 pages • 2023
  • A Counseling Agency's failure to follow all basic requirements required by HUD could result in which of the following: A. Termination of agency's HUD approval B. Suspension of agency's HUD approval C. Forfeiture of remaining federal grant funds D. Fines and or imprisonment E. a , b , and c F. all of the above correct answer: E. Termination of agency's HUD approval Suspension of agency's HUD approval Forfeiture of remaining federal grant funds T/F A counseling agency must off...
    (0)
  • $12.49
  • + learn more
HECM Practice| 128 questions| with complete solutions
  • HECM Practice| 128 questions| with complete solutions

  • Exam (elaborations) • 17 pages • 2023
  • The HECM Saver was introduced as an option to lower the upfront cost of a HECM by reducing the upfront mortgage insurance premium to: a. 0. b. 0.01% of the Maximum Claim Amount. c. 1% of the Maximum Claim Amount. d. 1.25% of the Maximum Claim Amount. correct answer: b If repairs are required but can be completed after closing, the lender will create a repair set-aside in the amount of: a. 15% of the maximum claim amount. b. 100% of the actual cost of repairs. c. 100% of the estimated...
    (0)
  • $12.99
  • + learn more