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Announcement
Announcement You now have an opportunity to
· test your HECM knowledge,
· become a part of the HUD HECM National Counseling Network, and
· qualify to offer HECM counseling on a nationwide basis.
In cooperation with HUD, the AARP Foundation's Reverse Mortgage Education Project (RMEP) has been administering the HUD HECM Counselor Exam since October 3, 2005. The exam is now continuously available with no defined end date. If you achieve a qualifying score of 80 or more (out of 100) on this exam, you will be eligible to join the RMEP Network.
If you achieve the qualifying exam score, you can become a part of the HUD HECM National Counselors Network by meeting these additional requirements:
1) submit your name, the name of your agency, the city and state in which you work, your individual email address, and a telephone number(s) for prospective clients to call to obtain counseling
2) complete an online Network orientation course
3) agree to
a. follow a HECM counseling protocol that spells out the Network's HECM counseling policies and procedures; for a copy of the protocol, click here (this document is in 'PDF' format; click here if you need to download Acrobat Reader)
b. use model loan analysis software provided to you at no cost via the Network
c. visit the Network's website at www.hecmcounselors.org regularly to check for program updates and Network news.
RMEP Network members will also be strongly encouraged to attend periodic national training conferences for Network members offered in cooperation with NeighborWorks America. Generally, documented travel expenses will be paid by the AARP Foundation, although the number of Network members at that time may affect the conference's travel reimbursement policies.
As a member of the RMEP Network you would be approved by HUD to offer HECM counseling by telephone on an unrestricted, nationwide basis as explained in HUD Mortgagee Letters 2004-25 and 2004-48. (But you would not be required to do so.)
In the past, becoming a member of the HUD HECM National Counselors Network has made the agencies employing Network counselors eligible for HECM funding via the AARP Foundation. This funding is now being administered by other national intermediaries for housing counseling selected by HUD.
The examination fee for each counselor taking the HECM exam is $100 per exam.
Background With HUD's support, the AARP Foundation has been developing and testing a variety of initiatives for improving the quality, independence, efficiency, and accountability of HECM counseling. At present, the HUD HECM National Counseling Network includes over 500 counselors who have achieved the qualifying scores on previous HECM Counselor Exams.
The earliest network counselors (78 tested and qualified during 2004) helped the RMEP develop and refine its Project website, model loan analysis software, a client satisfaction survey, an online database of alternatives to HECMs, and the Project's overall HECM counseling policies and procedures. Beginning in FY 2005, the Project is welcoming new counselors to the Network and continues its efforts to strengthen HECM counseling.
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How To Participate Here are the steps involved in taking the exam and becoming a part of the HUD HECM National Counseling Network:
1) LEARN all about the exam at Exam Guide (see below).
2) REGISTER for the exam, pay your $100 exam fee, and SCHEDULE your exam appointment online at Exam Registration & Scheduling (see below). 3) STUDY for the exam using the materials identified and provided at Study Materials. This will greatly increase the likelihood that you will achieve the qualifying score.
4) TEST your HECM knowledge by taking the exam at the place, date, and time you scheduled. As soon as you complete the exam, you will learn your score on it. If you achieve the qualifying score of 80 or more out of 100, you will also get the information you will need to apply to become a member of the HUD HECM National Counseling Network. (If you do not achieve the qualifying score, you can re-take the exam at any time and as many times as you choose. The nonrefundable fee each time you take the exam is $100.)
5) BECOME a highly-valued member of the HUD HECM National Counseling Network. Participate in periodic national training conferences with other Network counselors. Gain access to the Network's website. Learn how to consult online with other counselors and RMEP staff, and how to use the network's online alternatives database. Obtain and learn model loan analysis software. Help HUD improve HECM counseling policies and practices.
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Why Participate It's not just to gain well-deserved recognition and respect from your agency and HUD for your highly-specialized, hard-earned, and valuable expertise. Or to join a network of accomplished HECM counselors. Or to be approved by HUD to offer HECM counseling by telephone on an unrestricted, nationwide basis.
The larger reason is to strengthen the quality of service being provided to homeowners by the HECM counseling program - to give them higher-quality help as they decide if, how, and when to use what is generally their single most important and largest remaining financial asset.
For these homeowners, this decision can be the most important one they will make in their later years. The better counseling they receive, the better decisions they are likely to make. And this improves the performance of the HECM program, and quality of life for its counseling clients. So please join us in this larger effort. We need your talent and commitment to improve the lives of older homeowners.
To learn more about the exam, click Exam Guide
To register & schedule your exam, click Exam Registration & Scheduling
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