Certified Mortgage Planning Specialist
Certified Reverse Mortgage Professional
CRMP Committee Member, National Reverse Mortgage Lenders Association
I experienced my first job in the mortgage industry in 1985 as a summer temp employee. I’ve been in the industry ever since and I tell clients “I have no other skills as this is the profession I enjoy.” I’ve held various positions in the industry, having worked for mortgage brokers, national banks, national independent mortgage bankers, and at one time as owner of my own mortgage broker business in Oregon for a decade in the early 2000’s before I relocated to Palm Springs. Mortgage Brokering is where my passion is as brokers are not limited to the offerings of specific bank or institution. We act as fiduciaries for our clients, something not required of big-box lenders.
Over the years, I’ve learned that my job is a lot about educating the client about the process, identifying everything that can could possibly go wrong on day zero and creating a contingency plan “just in case.” There shouldn’t be any surprises in mortgage. If there is an area of concern with the loan, I’ll be upfront and tell you the plan to work through it. I’ve saved “many” loans previously declined by other lenders by using the same data points but more importantly knowing how to properly structure the loan and being a “guideline guru.”
As a Certified Mortgage Planning Specialist (CMPS), I have more than just a basic working knowledge of Fannie Mae and Freddie Mac to take on complicated borrower scenarios. Fannie Mae and Freddie Mac are different in documentation requirements, income calculations, and even debt to income ceilings. Borrowers can be denied by Fannie Mae but approved by Freddie Mac -- if someone knows how to structure a loan for you.
I am also a Certified Reverse Mortgage Planner (CRMP). CRMP’s are required to possess minimum years of experience, pass a proctored exam, maintain annual continuing education requirements, pass a detailed background check every three years and are held to a higher ethical standard. Our experience allows us to teach continuing education classes to CPA’s, Financial Planners, and Realtors throughout California; something a regular loan officer cannot do.
Reverse mortgages can seem like a complicated product, but it comes with fewer risks and a lot of flexibility and benefits people don’t know about. The key is educating you, the client, on the product to allow you to make the decision as to whether this product is in your best interest.
I look beyond just the current 30-year fixed rate and examine how your mortgage debt fits with your overall financial goals. A 15-year loans sounds great, until you remember your children will attend college in the next few years. Owning your home free and clear in retirement sound like a solid plan, but drawing down retirement accounts in a stock market downturn, or relying solely on Social Security benefits could impact your future financial security. Those pains could be mitigated by using the draw features or monthly tenure payments of a Reverse Mortgage.
Give me a call. As a mortgage professional with more than 30 years of experience, my passion is to find financing solutions for all my clients whether you be a first time home buyer, wanting to trade up, entering retirement years or even if your loan was declined by someone else. I solve problems so you can realize your dreams.
