I tried to call and the voice mail was not available. I just took the HECM exam and have questions about some of the available answers.
Line of credit payments available to borrower: the manual says on tab 12, 2.6.2 that payments must be made within 5 business days and that was not an option, 4 day was the closest option.
The charge to change a payment plan says $20 in the manual but I do not remember that being an option.
There was a question about tenure payments no longer available but the answer "as long as the borrower lives in the home" was not an option
There was a question about annuities and I remember both answers of them being tax deferred and own by insurance so I do not know what the correct answer is since both are listed in the protocol B.8
In the protocol p. 165 is discusses if you believe a client is in danger or coercion that you contact HUD. The best answer in the test was invite others to counseling but that is not even listed in the protocol.
The test had a question about faxing the certificate and in A.8 it does not include with approval from the client, which was the test answer.
There was a question about tenure but pg 92 5.D.3.b. states that payments continue as long as the borrower lives in the home and that is not an option.
I made a 78 out of 80% and believe some of the questions were ambigious without a clear answer.
Please assist, thank you, Bethany Cambron
cambronb@gmail.com