Articles by ReverseReview Magazine

Spotlight: Becoming a CRMP

When the National Reverse Mortgage Lenders Association was formed 20 years ago, it set out to enhance the professionalism of the reverse mortgage business, serving as an educational resource, policy advocate and public affairs center for lenders and related groups.Part of this mission involved the creation of a professional designation to help dedicated members of the industry stand apart, and so in 2009, it launched its Certified Reverse Mortgage Professional (CRMP) program. It took a committee of industry experts two years to establish the necessary education platform with a national testing firm for the CRMP designation, which now counts 149
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NRMLA News

Reverse Mortgages in a Time of Change We have a new HECM rule. We have a new president and incoming management team at the HUD. How will these changes impact your businesses?NRMLA’s Eastern Regional Meeting & Expo, Reverse Mortgages in a Time of Change is a great opportunity to get exclusive information on the HECM final rule from NRMLA’s outside counsel, Jim Milano; to obtain timely updates on other marketplace issues and trends; and to network with hundreds of other loan officers, business owners, servicers and wholesalers. The 1.5-day conference in New York, April 3-4, will feature engaging panels with dynamic speakers
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NRMLA News

Where Did the Proposed Rules Go? Last year, NRMLA commented on three proposed rules published by HUD: one that would make further changes to the HECM program; a supplement to that proposal that would require mandatory assignments of HECM reverse mortgages at 98 percent of the maximum claim amount; and another that would modernize the department’s condo approval and recertification rules.The comment periods are closed and now we await publication of the final rules. But when will they be published and what is HUD doing in the meantime? The presidential transition and change in administrations creates some uncertainty about the
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Spotlight: One Million HECMs and Counting

This fall, the reverse mortgage program surpassed one million loans, an important benchmark that highlights just how many seniors stand to benefit from this product. In its 27 years, the HECM program has helped seniors across the country find financial security in their later years, and we know it’s the program’s dedicated originators who have worked hard to make it all happen.HECM originators have weathered countless policy changes, taking the time to educate themselves about new guidelines and stay current on product changes. They have worked hard to combat misconception, believing ardently in the HECM’s value and teaching anyone willing
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Wade Phau's New How-To

There’s a new book to add to your shelves this holiday season. Reverse Mortgages: How to Use Reverse Mortgages to Secure Your Retirement, by Wade Phau, is the latest text that aims to explain how the loan could play an integral role in retirement income planning.Phau is a well-known retirement planning expert who has written extensively on the topic for outlets like Forbes and The Wall Street Journal. A principal and director of retirement research at McClean Asset Management and a professor of retirement income planning at The American College of Financial Services, Phau has been researching and writing about
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A Note from the Editor

The HECM program is unique in that its success requires a strong partnership between the lending community and government. In order to provide the best product to consumers, both entities must work together to ensure the product’s safety, affordability and long-term viability for this nation’s seniors.As the government agency in charge of overseeing the program, HUD’s role in the HECM is critical. So we reached out to HUD’s acting deputy assistant secretary, Bob Mulderig, to get his take on the current state of the reverse mortgage market in light of recent policy change and volume dips. Mulderig, who assumed his
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