Reg Z Reverse Mortgages
Description: Reg Z Reverse Mortgages defines reverse mortgages and covers suitability for such products, and reviews the current disclosure requirements.
Note: The Reg Z Overview course must be taken at least once before any other Reg Z course is attempted.
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 the advantages and disadvantages of a reverse mortgage for some consumers
- Identify the disclosure requirements for a reverse mortgage including the TALC rate