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Online, self-paced courses so you can master reverse mortgage fundamentals

Enroll in Essentials Course

Courses

Fundamentals

Learn the core of reverse mortgages in 15 short, digestible lessons.

Syllabus

Guidelines

Understand the rules, calculations, and policies behind the scenes.

Syllabus

Connections

How to talk about, position, and confidently offer reverse products.

Syllabus

Fundamentals Syllabus

Sample Lecture

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Reverse Basics

In this module, we’ll discuss some of the ways reverse mortgages are different from forward or traditional forms of financing and lay the foundation for future classes with reverse mortgage terminology.

The Reverse Industry

In this module, we’ll give you a historical background of the reverse mortgage industry and provide a framework for understanding regulatory oversight.

We’ll also discuss trade association involvement, wholesale providers, other vendors to contact, and resources you’ll want to access. Please don’t try to remember all this information – you’ll be able to reference most of this information in your training resources.

Working with Seniors

In this module, we’ll give you a historical background of the reverse mortgage industry and provide a framework for understanding regulatory oversight.

Guideline Basics

In this module, we’ll discuss basic reverse mortgage guidelines like borrower responsibilities, lien seasoning, and a quick overview of non-borrowing spouses, counseling, financial assessment, fees, and more.

HECM Principal Limits

In this module, we will discuss How HECM principal limits are calculated, the three factors that determine principal limits, HUD’s Principal Limit Factor Tables, and then we’ll give you some examples.

HECM Products

In this module, we’ll discuss the different types of HECM loan purposes including HECM for purchase and HECM-to-HECM refinancing. We’ll then discuss different rate structures, adjustments, caps and when each product might be beneficial to the client.

HECM Payouts

In this module, we’ll discuss how initial disbursements are limited and how mandatory obligations impact this calculation. We’ll also cover the multiple ways the borrower can receive their funds with a HECM.

HECM Rates

In this module, we’ll discuss why we use two rates, how they are calculated, the impact of rates, how they are locked, and more.

HECM LOC and Growth

This module will completely cover the most powerful feature of the HECM product, the line-of-credit. It’s been said that the HECM line-of-credit is the basis of all HECM financial planning. So, if you want to conduct business with financial advisors, you’ll need to know and understand this module well.

We’ll discuss the rate at which the LOC grows, the two ways it grows, how to explain it, whether it makes sense to make voluntary payments, a financial planning strategy known as “LOC conversion,” and more

HECM for Purchase

In this module, we’ll discuss the HECM for Purchase product fundamentals, motivations, process, guidelines, and restrictions. We’ll also look at examples.

HECM-to-HECM Refinances

In this module, we’ll discuss WHY a homeowner would consider a HECM-to-HECM refinance, some warnings and anti-churning guidelines, seasoning requirements, and how the IMIP is adjusted for these loans.

Proprietary Reverse

In this module, we discuss proprietary reverse mortgages, how they are similar, how they are different, possible restrictions, and specific opportunities to look for.

These products are more than just jumbo reverse mortgages, so let’s dig into the details.

Public Perception

In this module, we’ll discuss some of the public perception challenges you’ll face in the reverse mortgage business. We’ll discuss things you may have heard or read about the industry and counter these with the truth.

Ethics and Compliance

In this module, we discuss multiple ethics concerns including prepayments, cross-selling, churning, borrower competency, reverse mortgage advertising, trigger phrases, and more.

Connections Syllabus

Sample Lecture

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