Certified Home Equity Conversion Mortgage Specialist
aka Certified Reverse Mortgage Specialist Advisor
Special Half-off Enrollment Special - Enroll Today for only $175
The Assn. for Financial Counseling Planning & Education (AFCPE)
accepts
this course for 15 CEs.
The National Reverse Mortgage Education Center
(NRMEC) has reviewed
the CHECMS course and exam and has found it to meet NRMEC's high
professional standards. NRMEC recommends the CHECMS reverse mortgage
program for any professional who works with senior adults.
Read an interview
with the author of this course, Yan Ross.
Introduction
The United States Congress created reverse mortgages as part of the Housing and
Community Development Act of 1987. It established the federal mortgage insurance
program, which directed the department of Housing and Urban Development (HUD)
to create Home Equity Conversion Mortgages (HECMs) also widely known as reverse
mortgages.
Reverse mortgage education for the consumer and professional is now coming to
the forefront as more and more baby boomers move into retirement and begin to
use their home equity as part of their retirement income. Even in its infancy,
however, fraud and financial abuse became a major problem. HUD initiated various
projects to educate senior homeowners about reverse mortgages. Likewise, a program
regulations and oversight came into being with regards to reverse mortgage lenders
and their representatives
The ICFE's Certified Home Equity Conversion Mortgage Specialist™ (CHECMS™)
program is a comprehensive training and certification curriculum has been specifically
developed to help professional counselors and interested others learn and understand
the purpose of the HECM program and how it has expanded over the last ten years.
Participants will also learn the characteristics of HECMs and what it takes to
be a HUD qualified lender. This new course takes the student through step-by-step
process of originating a HECM and completing it to closing the loan and it even
includes HUD servicing options. Enrollees will learn and develop the knowledge
and skills needed to effectively comply with HUD related HECMs.
The CHECMS™ course is ideal for the financial services industry professionals
who are dedicated to educating and assisting consumers, clients, customers, businesses,
and the general public reverse mortgages ICFE trained and certified professionals
are employed by a wide range of organizations including, housing, senior, consumer
credit and debt counseling organizations, credit unions and other financial institutions,
cooperative extension system, all branches of the military, mortgage, real estate,
and financial services firms. Many others are private practitioners including
notary public, attorneys, security consultants, CPAs, CFPs, and consumer educators.
The growth of reverse mortgages has been explosive. America's seniors are getting
bombarded with ads on TV, offers in their mailboxes and telephone calls all aimed
at enticing them to determine their qualifications for a reverse mortgage. As
the senior population continues to grow and there will be more professionals
who will need to be trained and qualified to provide retirees and elderly homeowners
with valuable guidance on whether or not a home equity conversion mortgage is
right for their circumstances
Who Is Enrolling in the ICFE's valuable Certification Programs and earning
CE's?
- CFP, CLU-ChFC, RFC, CPA, Notaries, Credit and Debt Counselors
- Bank, Credit Union & Student Lenders
- Military Personal Finance and Resdiness Counselors
- Employee Benefits Administrators
- Reverse Mortgage Lenders and Real Estate Agents
- In-house Collection and Recovery Counselors
- Faith Based Credit and Financial Counselors
- Bankruptcy and Financial Education Instructors
- First-time Home Buyer Advocates-Counselors
View News Release!
Specialized Credit Report Reviewer and ID Theft Risk Management Credentials from ICFE Set New Standard
Special Half-off Enrollment Special - Enroll
Today for only $175
Why Become a Reverse Mortgage CHECMS™?
Here's some of the reasons why people are getting ICFE certified
- Becoming certified by the ICFE makes a difference to your clients, your
company and yourself
and is a manifestation of your commitment to high standards of professionalism
aimed at
your employer, your colleagues, your clients and the general public.
- Demonstrate your professional qualifications.
- Enhance your experience in the field and promote your professional value.
- Learn critical elements of the Housing and Community Development Act.
- Stay current with the HUD reverse mortgage program and other financial education
trends.
- Fulfill continuing education (CE) and PACE requirements.
- The ICFE Certified Home Equity Conversion Mortgage Specialist™ (CHECMS™ )
is accepted by the International Association of
Registered Financial Consultants and awards IARFC members 15 CEs.
- The CFP Board accepts this program for 15 CEs for CFPs.
- This program is approved for 15 PACE credits.
- Assn. For Financial Counseling Planning & Education (AFCPE) accepts this
course for 15 CEs.
- Listing in the ICFE
Directory of Certificants
The National Reverse Mortgage Education Center (NRMEC) has reviewed
the CHECMS course and exam and has found it to meet NRMEC's high
professional standards. NRMEC recommends the CHECMS reverse mortgage program
for any professional who works with senior adults.
About reverse mortgages (from the HUD website)
The HECM FHA insured reverse mortgage can be used by senior homeowners age 62
and older to convert the equity in their home into monthly streams of income
and/or a line of credit to be repaid when they no longer occupy the home.
- The
loan, commonly known as HECM, is funded by a lending institution such as a mortgage
lender, bank, credit union or savings and loan association
- To assist the homeowner
in making an informed decision of whether this program meets their needs, they
are required to receive consumer education and counseling. HECM counselors will discuss program eligibility requirements, financial implications
and alternatives to obtaining a HECM and provisions for the mortgage becoming
due and payable
- Upon the completion of HECM counseling, the homeowner should
be able to make an independent, informed decision of whether this product will
meet their needs.
Homeowners who meet the eligibility criteria can complete a reverse mortgage
application by contacting a FHA-approved lending institution such as a bank,
mortgage company, or savings and loan association.
Become an ICFE Certified Home Equity Conversion Mortgage Specialist™
Here is what's included in the ICFE Reverse Mortgage CHECMS™ enrollment package:
- ICFE CHECMS™ Independent Study Guide - H&CD Act of 1987
- ICFE CHECMS™ Independent Study Guide Table of Contents
View the Reverse Mortgage CHECMS Table of Contents
- ICFE CHECMS™ 100 Question Examination/Answer Sheet -
(85 questions - (85%) correct answers required)
- An ICFE Special Report on Identity Theft (A PowerPoint Presentation on wallet
sized CD-rom)
- ICFE Certificate with ICFE Seal "Certified Home Equity Conversion Mortgage
Specialist™"
- ICFE eNEWS and regular email updates
- Listing in the ICFE
Directory of Certificants
Regular Enrollment in ICFE CHECMS Program $350.00
LESS Introductory Discount (available through 12/31/2011)
-$175.00
SPECIAL Introductory Price (plus $10 postage) $175.00
Visit our Online Store to get started now.
| Program Materials |
Study Guide |
Study Exam |
Certificate of Completion |
