CRMP: Across the Kitchen Table atmosphere for her learning and licensure. She had the time and the resources to have productive conversations with retirees about the workings of reverse mortgages. “There are a lot more ‘Ohs!’ and ‘Ahs!’ and ‘Oh, my goodness—I didn’t know that!’” she says. Homeowners feel a sense of trust. And with their newfound knowledge, even those who decide against a reverse mortgage feel comfortable sending referrals Kemp’s way. “That helps keep building business, even in a downturn,” she says. The CRMP: A Window Into the Reverse Mortgage Process Kemp recently bought her first home, intentionally located in an underserved area of Indianapolis. There, many homeowners take pride in their independence while harboring misgivings about reverse mortgages. Kemp sought the CRMP to gain a better understanding of the entire process, including servicing, to build her confidence as an educator. She hopes to do more presentations in the community, reaching the many homeowners whose homes need significant repairs and maintenance but don’t know where to turn. “By building up their homes, they are thereby helping build up the value in the area—never mind giving people their dignity back,” Kemp says. She also sought the CRMP for the brain-sharpening challenge and to familiarize herself with a reverse mortgage’s entire processing journey. “I like learning, and if there’s something new in my field, I want to learn it,” she says. “I want to be the best at what I do. I want to do anything that can help me deliver a smoother process and help my client have a very good, true understanding so they have something they can take to other people if they need to.” The CRMP has helped her navigate situations more fluidly. With the power to forecast underwriting issues, she can manage potential snags upfront “and not just learn it through a mistake.” In one case, she was working with a client seeking a reverse mortgage to help pay for his dying mother’s home healthcare. Because of something Kemp read in her CRMP studies, she spotted a gap in the documentation and shared her observation. The client corrected it, averting possible problems in probate when his mother died a short time later. “He was very happy that I had helped them through that,” she says. Community Perspective Kemp maintains a working list of charitable organizations and state and federal grant opportunities for home repairs and maintenance. When homeowners share what needs to be done—and Kemp is always asking—she finds a resource. The reverse mortgage takes care of long-term needs, while the financial cushion it provides helps whittle down the homeowner’s to-do list. “If you need to hire somebody to clean your gutters, you’ve got the money now,” she tells clients. “If you need somebody to go get the groceries, you’ve got the money now.” Kemp once refinanced a reverse mortgage for two sisters from New Orleans who both lost their husbands around the same time. One sister moved into the other’s home so they could be close while reducing expenses. Still, expenses kept rising. They thought about getting a roommate, but it wasn’t what they wanted. Their nephew introduced them to FAR, and the reverse mortgage provided enough funding to buy a new car, pay property taxes and help them to look forward to living the rest of their retirement years in comfort. Today, Kemp has a standing invitation to visit the sisters in New Orleans. Outside her life in reverse mortgages, Kemp could once be found fronting a rock band. She has been involved in music since childhood and singing offered “a great way to decompress and relive my youth a little bit.” She is deeply involved in improving the quality of life in her surrounding neighborhoods as an appointed member of three city boards devoted to housing, parks and safety. Her civic work circles back to her professional goals. Her part of the city is home to one of the nation’s largest regional parks, the 861-acre Riverside Park, larger than Central Park and with the White River flowing through it. But the park is underutilized. As outside investors are spotting the area’s potential, Kemp wants residents to get CRMP: Across the Kitchen Table continued from page 11 12 REVERSE MORTGAGE / MARCH-APRIL 2024
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