Description
25min | Credits: 0.50 CRCM, CPB
Note: The Reg Z Overview course must be taken at least once before any other Reg Z course is attempted.
This course defines reverse mortgages and covers suitability for such products, and reviews the current disclosure requirements.
Audience: Branch staff such as consumer loan officers who discuss reverse mortgages with consumers.
Learning Objectives
After completing this course, students will be able to:
- Describe a reverse mortgage
- Describe reverse mortgage advantages and disadvantages for some consumers
- Identify reverse mortgage disclosure requirements, including the total annual loan cost (TALC) rate
Prerequisites: Reg Z Overview
This course is part of the ABA Frontline Compliance program.