CRMP NRMLA CERTIFIED REVERSE
MORTGAGE PROFESSIONAL EXAM
2025/2026 | COMPLETE 200 QUESTIONS
& ANSWERS WITH DETAILED
RATIONALES (HECM MASTERY GUIDE)
CRMP NRMLA Certified Reverse Mortgage Professional Exam
1. What does HECM stand for?
A. Home Equity Credit Mortgage
B. Home Equity Conversion Mortgage
C. Home Equity Cash Management
D. Housing Equity Credit Model
Answer: B. Home Equity Conversion Mortgage
HECM is the FHA-insured reverse mortgage program.
2. Which organization administers the HECM program?
A. Federal Reserve
B. FHA
C. FDIC
D. HUD
Answer: D. HUD
HUD oversees the HECM program, while FHA provides insurance.
3. What is the minimum age requirement for a reverse
mortgage borrower?
A. 55
B. 60
,C. 62
D. 65
Answer: C. 62
Borrowers must be at least 62 years old.
4. What type of property qualifies for a HECM?
A. Commercial property
B. Primary residence
C. Rental property
D. Vacation home
Answer: B. Primary residence
HECM loans are only for primary residences.
5. What is the main purpose of a reverse mortgage?
A. Buy a new home
B. Reduce taxes
C. Convert home equity into cash
D. Pay student loans
Answer: C. Convert home equity into cash
Allows seniors to access home equity without selling.
6. What happens to the loan balance over time?
A. Decreases
B. Remains constant
C. Increases
D. Disappears
Answer: C. Increases
Interest accrues, increasing the loan balance.
7. Which payment option provides equal monthly payments
for life?
A. Line of credit
B. Tenure
,C. Term
D. Lump sum
Answer: B. Tenure
Tenure payments last as long as the borrower lives in the home.
8. What is required before obtaining a HECM loan?
A. Credit check only
B. Counseling session
C. Appraisal waiver
D. Employment verification
Answer: B. Counseling session
HUD requires independent counseling.
9. Which fee is charged to insure the loan?
A. Origination fee
B. Servicing fee
C. Mortgage insurance premium
D. Appraisal fee
Answer: C. Mortgage insurance premium
Protects lender and borrower.
10. What is a non-recourse loan?
A. Borrower pays full debt always
B. Borrower never repays
C. Repayment limited to home value
D. Loan has no interest
Answer: C. Repayment limited to home value
Borrowers or heirs never owe more than the home’s value.
11. What triggers repayment of a reverse mortgage?
A. Monthly payments
B. Borrower sells home or dies
, C. Interest rate change
D. Property tax payment
Answer: B. Borrower sells home or dies
Loan becomes due upon major life events.
12. Which factor affects loan amount eligibility?
A. Borrower’s age
B. Hair color
C. Marital status only
D. Occupation
Answer: A. Borrower’s age
Older borrowers qualify for higher amounts.
13. What is a line of credit option?
A. Fixed payments
B. Withdraw funds as needed
C. One-time payment
D. Monthly interest
Answer: B. Withdraw funds as needed
Flexible access to funds.
14. Which document outlines loan terms?
A. Credit report
B. Loan agreement
C. Tax return
D. Insurance policy
Answer: B. Loan agreement
Details all loan conditions.
15. What must borrowers continue to pay?
A. Mortgage principal
B. Property taxes and insurance
MORTGAGE PROFESSIONAL EXAM
2025/2026 | COMPLETE 200 QUESTIONS
& ANSWERS WITH DETAILED
RATIONALES (HECM MASTERY GUIDE)
CRMP NRMLA Certified Reverse Mortgage Professional Exam
1. What does HECM stand for?
A. Home Equity Credit Mortgage
B. Home Equity Conversion Mortgage
C. Home Equity Cash Management
D. Housing Equity Credit Model
Answer: B. Home Equity Conversion Mortgage
HECM is the FHA-insured reverse mortgage program.
2. Which organization administers the HECM program?
A. Federal Reserve
B. FHA
C. FDIC
D. HUD
Answer: D. HUD
HUD oversees the HECM program, while FHA provides insurance.
3. What is the minimum age requirement for a reverse
mortgage borrower?
A. 55
B. 60
,C. 62
D. 65
Answer: C. 62
Borrowers must be at least 62 years old.
4. What type of property qualifies for a HECM?
A. Commercial property
B. Primary residence
C. Rental property
D. Vacation home
Answer: B. Primary residence
HECM loans are only for primary residences.
5. What is the main purpose of a reverse mortgage?
A. Buy a new home
B. Reduce taxes
C. Convert home equity into cash
D. Pay student loans
Answer: C. Convert home equity into cash
Allows seniors to access home equity without selling.
6. What happens to the loan balance over time?
A. Decreases
B. Remains constant
C. Increases
D. Disappears
Answer: C. Increases
Interest accrues, increasing the loan balance.
7. Which payment option provides equal monthly payments
for life?
A. Line of credit
B. Tenure
,C. Term
D. Lump sum
Answer: B. Tenure
Tenure payments last as long as the borrower lives in the home.
8. What is required before obtaining a HECM loan?
A. Credit check only
B. Counseling session
C. Appraisal waiver
D. Employment verification
Answer: B. Counseling session
HUD requires independent counseling.
9. Which fee is charged to insure the loan?
A. Origination fee
B. Servicing fee
C. Mortgage insurance premium
D. Appraisal fee
Answer: C. Mortgage insurance premium
Protects lender and borrower.
10. What is a non-recourse loan?
A. Borrower pays full debt always
B. Borrower never repays
C. Repayment limited to home value
D. Loan has no interest
Answer: C. Repayment limited to home value
Borrowers or heirs never owe more than the home’s value.
11. What triggers repayment of a reverse mortgage?
A. Monthly payments
B. Borrower sells home or dies
, C. Interest rate change
D. Property tax payment
Answer: B. Borrower sells home or dies
Loan becomes due upon major life events.
12. Which factor affects loan amount eligibility?
A. Borrower’s age
B. Hair color
C. Marital status only
D. Occupation
Answer: A. Borrower’s age
Older borrowers qualify for higher amounts.
13. What is a line of credit option?
A. Fixed payments
B. Withdraw funds as needed
C. One-time payment
D. Monthly interest
Answer: B. Withdraw funds as needed
Flexible access to funds.
14. Which document outlines loan terms?
A. Credit report
B. Loan agreement
C. Tax return
D. Insurance policy
Answer: B. Loan agreement
Details all loan conditions.
15. What must borrowers continue to pay?
A. Mortgage principal
B. Property taxes and insurance
