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HECM Counselor Exam Guide
Study Materials HUD/HECM Program Materials
Other Resources for Exam Preparation
Study Planning
HUD/HECM Program Materials - HUD Handbook 4235.1 REV-1 is the basic program handbook for the HECM program. The key sections are Chapters 1-9 and Appendixes 1, 7, 8, and 13 Remember - the Handbook was published in 1994, and some of the key program rules have changed since then, as explained in later HUD mortgagee letters, HECM regulations, and amendments to the HECM statute (see below). BE SURE TO READ THE MORTGAGEE LETTERS!
- HECM Mortgagee Letters are issued by HUD to make official changes in the HECM program. This is the way the program is updated and rules are clarified or modified. Reading and digesting the Mortgagee Letters is critical for a thorough understanding of how the HECM program works and how it is changing.
- Executive Summaries of Select Mortgagee Letters
- 2010-07 - Revisions to Home Equity Conversion Mortgage (HECM) loan agreement
- HECM Regulations are issued by HUD to implement amendments to the HECM statute enacted by Congress.
- HECM Statute is the basic federal law that governs the HECM program.
(This document is in 'PDF' format. Click here if you need to download Acrobat Reader.)
Top Other Resources for Exam Preparation Study Planning No matter how long you have been doing HECM counseling, the HUD HECM exam requires preparation. In order to pass the exam, you need to - Know the material
- Understand how the program works
- Apply analytical thinking skills to the material
- Read the questions carefully, and
- Answer the question that is being asked.
Good reading comprehension is key. Plan on several weeks of study - at a minimum - to prepare for the exam. If it's been a while since you took an "closed book" test, you may want to allow for more time.
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