CRMP Counseling Protocols & Client Communication 2

Question 1

Under HUD guidelines, how long must a borrower wait after receiving HECM counseling before signing loan documents?

Accepted Answer

At least 7 calendar days

Answer

HUD requires borrowers to wait at least 7 calendar days after counseling before signing HECM loan documents, ensuring time for reflection.

Question 2

When a HECM counselor identifies that a client may have diminished cognitive capacity, the BEST first step is to:

Accepted Answer

Suggest the client bring a trusted advisor or family member to a follow-up session

Answer

Counselors should recommend that clients with potential cognitive concerns bring a trusted third party to help ensure they understand the loan terms.

Question 3

A reverse mortgage counselor must provide the client with a written summary of the counseling session that includes which of the following?

Accepted Answer

Contact information for the counseling agency and a summary of alternatives discussed

Answer

The written counseling summary must include agency contact information, topics covered, and alternatives to a reverse mortgage that were discussed.

Question 4

Which statement best describes the role of a HUD-approved HECM counselor?

Accepted Answer

To provide independent, unbiased education so the client can make an informed decision

Answer

HUD-approved counselors are neutral educators who help clients understand reverse mortgages without steering them toward or away from any specific product.

Question 5

A borrower requests that counseling be conducted in Spanish. The counselor only speaks English. What should the counselor do?

Accepted Answer

Refer the client to a HUD-approved counselor who can serve them in Spanish

Answer

Counselors must ensure clients receive counseling in a language they understand, which means referring non-English speakers to appropriately qualified counselors.

(CRMP) Certified Reverse Mortgage Professional Practice Test

(CRMP) Certified Reverse Mortgage Professional Practice Test

CRMP Counseling Protocols & Client Communication 2