15. Which of these statements about Reverse Mortgages is correct?
The lender has discretion to unilaterally amend the extension of credit.
The borrower may use a credit card, debit card, preprinted solicitation check, or similar device to obtain an advance.
Reverse mortgage loan advances made to a borrower are considered proceeds from a loan and not income, and therefore are not subject to income tax.
The lender may charge a reasonable transaction fee in connection with any routine debit or advance.