Updated - Expanded to a five-day course.
Launch your knowledge of the FHA-insured Home Equity Conversion Mortgage (HECM) product. This information-packed introductory course provides the foundation for counseling senior adults on HECM loan costs, benefits and alternatives. The course offers a detailed overview of the nuts and bolts of this popular reverse mortgage product, hands-on access to product-comparison software, a review of valuable web-based resources and plenty of time to practice your new skills. Designed for housing counselors and other housing, finance or non-profit professionals new to the reverse mortgage field, this course describes the HECM loan program roles and responsibilities, introduces loan calculations and distinguishes HECM loan features. Qualifying for the HUD HECM Counselor Roster and preparing for the HUD HECM Counselor exam will also be covered. Students new to the world of reverse mortgages are strongly encouraged to take the eLearning course HO104el prior to taking HO111. Additional independent study after completing HO111 will be required to successfully complete the HUD HECM Counselor Exam.