CRMP Study Guide 2026
Everything you need to pass the CRMP exam in one place: the exam format, every topic to study, real practice questions with explanations, flashcards, and full-length practice tests. Free, no sign-up needed.
📋 CRMP Exam Format at a Glance
📚 CRMP Topics to Study (69)
✍️ Sample CRMP Questions & Answers
1. A borrower has recently filed for Chapter 7 bankruptcy and the discharge is pending. What is the impact on HECM eligibility?
A bankruptcy discharge resolves most credit obligations, and HECMs can generally proceed after discharge with the event reviewed in the financial assessment for context.
2. What is the purpose of the Right of Rescission under TILA for HECM transactions?
Under TILA, borrowers have a three-business-day right of rescission after closing on a HECM, during which they can cancel without penalty.
3. A counselor working with a client who has a mortgage balance approaching their home's value should emphasize which HECM limitation?
If the HECM principal limit is less than the existing mortgage balance, the borrower cannot qualify unless they bring additional funds to closing to pay down the existing lien.
4. During client assessment, a CRMP learns the borrower co-owns the property with a sibling who is 55 years old. What is the eligibility concern?
All individuals on title to the property must be borrowers on the HECM, and all borrowers must be at least 62, so the 55-year-old sibling must either be removed from title or wait.
5. A HECM originator must provide the borrower with the Total Annual Loan Cost (TALC) disclosure. What does TALC represent?
TALC is a required reverse mortgage disclosure showing the annualized total cost of the loan projected over multiple time periods, helping borrowers compare products.
6. Which of the following topics is REQUIRED to be covered in every HUD-approved HECM counseling session?
Counselors are required to discuss alternatives to a HECM, including selling, downsizing, home equity loans, and public benefit programs, so borrowers consider all options.