The National Association of Mortgage Brokers (NAMB), an association representing the interests of mortgage professionals and home buyers since 1973, says it is partnering with Liberty Reverse Mortgage. This new relationship includes the newly launched Certified Reverse Mortgage Specialist certification program (CREV), with classes to be presented by NAMB and Liberty throughout the U.S.
Each day, more than 12,000 Americans turn 65 years old, and the reverse mortgage certification will provide mortgage professionals the information and tools necessary to successfully navigate the product, process and conversation with potential borrowers.
Planned courses include:
- Age/Property/Equity Requirements
- How loan amounts are determined.
- The role the product type plays in how much a borrower is allowed to access.
- How a credit report is viewed and its potential impact on the loan.
- Sales tips and best practices for working with borrowers over 62.
- Overcoming objections and working through underwriting issues.
“Together, NAMB and Liberty will build mortgage professionals’ proficiency in reverse mortgages as well as the confidence to originate the program, ensuring borrowers across the nation are receiving the very best advice on how to responsibly access home equity to meet their individual retirement needs,” says Robert Ross, vice president, third party originations at PHH Mortgage/Liberty Reverse Mortgage.
Immediately following a CREV class, a test will be given. Upon passing, attendees will be presented with a certification and the marketing materials needed to promote the certification to potential clients.