HECM- home equity conversion mortgage

List 3 items of information or materials that you need for an assignment correct answers Fireline Pack, IRPG, Fiber Tape List 3 items on a resource order correct answers Incident Name, Incident Order #, Transportation Arrangements What are the two most important parts of the check-in process c...

Principal Limit correct answers the maximum mortgage amount; equals the maximum claim amount times the principal limit factor. The maximum amount of money available from the loan at any given time, including the amount already borrowed, any set-asides, and any remaining available funds. Principa...

HECM Tenure payment plan correct answers Equal monthly payments continue for the life of the borrower as long as one borrower lives and continues to occupy the property as principal residence HECM Term payment plan correct answers Equal monthly payments for a fixed period of months selected HE...

reverse mortgage correct answers provide a vehicle for a borrower who has substantial equity in a property to convert that accumulated equity- at a cost- to cash and additional debt without selling the property and without making payments to the lender. HUD initial disbursement guidelines for tod...

What is the more common name of Title V of the Housing and Economic Recovery Act of 2008? a) FACTA b) Gramm-Leach-Bliley Act c) Red Flag Rules d) SAFE Act correct answers D 3) Which of the following is NOT an involuntary lien? a) Judgement lien b) Mortgage lien c) Mechanic's lien d) IRS t...

List three items of information or materials that you need for an assignment? correct answers line pack ppe irpg list 3 items on a resource order? correct answers incident name reporting location charge code what are the two most important parts of the check-in process? correct answers loc...

All of the following are true regarding the counselor who meets with a prospective borrower for a reverse mortgage, except: A. The counselor explains the cost of the loan and the financial implications of obtaining it. B. The counselor is paid only if the borrower goes through with the reverse m...

Which of the following best defined negative amortization correct answers Not only is no principal being paid, but not all of the interest due is being paid, hence the loan balance is growing due to this deffered interest Which of the following is the most adequate definition of rescind correct a...