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HECM TEST 1. 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 ...

HECM EXAM 1. A Reverse Mortgage Is... - CORRECT ANSWER -A Loan Against The Value Of A Home That Provides Cash Advances To A Borrower, Requiring No Repayment Until A Future Time. 2. A Reverse Mortgage Is Different From A Home Equity Loan Because - CORRECT ANSWER -You Do Not Have To Make Monthly Repayments On A Reverse Mortgage 3. A Reverse Mortgage Must Be Repaid - CORRECT ANSWER -When The Last Eligible Borrower Dies, Sells, Or Permanently Moves Away 4. The Purpose Of ...

HECM EXAM 2026 1. A reverse mortgage is... - CORRECT ANSWER -a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future t ime. 2. A reverse mortgage is different from a home equity loan because - CORRECT ANSWER -You do not have to make monthly repayments on a reverse mortgage 3. A reverse mortgage must be repaid - CORRECT ANSWER -When the last eligible borrower dies, sells, or permanently moves away 4. The purpose of a rev...

HECM EXAM 2025 To Qualify dor HECM - CORRECT ANSWER -Borrower no cash out Owner occupied Sixty two Sixty two To Complete HECM Loan - CORRECT ANSWER -Borrower Council... All Liens Paid Off... Complete Conditions Deemed by underwriter How does FHA Benefit borrower - CORRECT ANSWER -Stabilizes and insures loan FHA Non Recourse - CORRECT ANSWER -Home is only asset used to pay loan... Heirs do not inherit unwanted debt... Borrower can't owe more than house appraisal If ban...

HECM EXAM to qualify dor hecm - CORRECT ANSWER -borrower no cash out owner occupied sixty two sixty two to complete hecm loan - CORRECT ANSWER -borrower council... all liens paid off... complete conditions deemed by underwriter how does fha benefit borrower - CORRECT ANSWER -stabilizes and insures loan fha non recourse - CORRECT ANSWER -home is only asset used to pay loan... heirs do not inherit unwanted debt... borrower can't owe more than house appr...

HECM EXAM QUESTIONS WITH CORRECT ANSWERS – LATEST UPDATE 2026/2027 | GRADED A+ | GUARANTEED PASS!! 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 - ANSWER E. Termination of agency's HUD approval Suspension of age...

A reverse mortgage is... Ans: a loan against the value of a home that provides cash advances to a borrower, requiring no repayment until a future time. A reverse mortgage is different from a home equity loan because Ans: You do not have to make monthly repayments on a reverse mortgage A reverse mortgage must be repaid Ans: When the last eligible borrower dies, sells, or permanently moves away The purpose of a reverse mortgage is most often Ans: To generate cash...

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 Ans: E. Termination of agency's HUD approval Suspension of agency's HUD approval Forfeiture of remaining federal grant funds T/F A counseling ...

This document contains over 340 verified multiple-choice and true/false questions and answers from the official 2025 HECM (Home Equity Conversion Mortgage) Practice Exam, designed to thoroughly prepare students and professionals for the HUD HECM Counselor Certification and reverse mortgage compliance assessments. The questions are updated according to the latest FHA, HUD, and HECM regulations and comprehensively cover all required counseling topics, operational policies, and procedural standards...

HECM Exam Questions with Correct Answers 100% Solved