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HECM Test Questions and Answers Latest 2023 (Verified Answers)

The HECM Saver was introduced as an option to lower the upfront cost of a HECM by reducing the upfront mortgage insurance premium to: a. 0. b. 0.01% of the Maximum Claim Amount. c. 1% of the Maximum Claim Amount. d. 1.25% of the Maximum Claim Amount. - ANSWER-b If repairs are required but can be completed after closing, the lender will create a repair set-aside in the amount of: a. 15% of the maximum claim amount. b. 100% of the actual cost of repairs. c. 100% of the estimated cost of...

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 Practice | 128 Questions And Answers

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 locate and chec- in at icp receive initial briefing from supervisor/helibase manager list 5 items of information you should receive in your initial briefing from incident supervisor? correct answers ...

HECM PRACTICE EXAM 2024 WITH 100% CORRECT ANSWERS The HECM Saver was introduced as an option to lower the upfront cost of a HECM by reducing the upfront mortgage insurance premium to: a. 0. b. 0.01% of the Maximum Claim Amount. c. 1% of the Maximum Claim Amount. d. 1.25% of the Maximum Claim Amount. - correct answer b If repairs are required but can be completed after closing, the lender will create a repair set-aside in the amount of: a. 15% of the maximum claim amount. b. 100% o...

HECM Practice Verified Questions And Answers | Complete Updates 2024 HECM Practice Verified Questions And Answers | Complete Updates 2024