NATIONWIDE REVERSE MORTGAGE FIELD SERVICE EXPERTS FOR OVER 30 YEARS 1.800.639.2151 www.nfronline.com Inspections - Preservation - Insurance Loss Inspections - Violation Management - Vacant Property Registrations - Utility Management - REO Services - Special Services I am vice president of operations for one of the fastestgrowing companies in the reverse mortgage business, Traditional Mortgage Acceptance Corp. (TMAC). Knowing what my grandparents instilled in me, I’m happy to be part of an industry and profession that can improve the lives of so many of our older adults. We serve a noble purpose, and each of us should be proud of the role we play. Older generations were brought up with the life goal of owning a home and having that home paid off and owned free and clear. We provide an opportunity for people who worked hard their entire lives to use the wealth they accumulated over many decades of homeownership as a retirement tool to pay for daily living expenses, healthcare, end-of-life planning and so much more. Few programs exist that provide the financial means for allowing our parents and grandparents to age in place with dignity. We should be proud of all our successes. Yet there’s always room for improvement. We must go above and beyond to ensure our clients and their next of kin fully understand the mechanics and terms of their loan and their responsibilities for maintaining it after closing. We should strive to provide consistent messaging throughout the entire reverse mortgage process and recognize that not all of our clients are financially savvy. For example, we work with an appraisal management company (AMC) that takes a slightly different approach to working with reverse mortgage borrowers by using more easily understood terminology when explaining the appraisal process. AMCs don’t use the word “inspection,” which for some older adults sounds invasive. Instead, they explain that an appraiser is coming to look at the home and assign a value to the home for the reverse mortgage they’re trying to obtain. The public’s perception of reverse mortgages has not always been positive. The more we can do to make the reverse mortgage process a positive experience from that first touch point until the payoff of the loan, the more mainstream we can become. I am ready to play my part. How about you? Carmalon Batiste is vice president of operations for TMAC and a NRMLA board member. Board Room I would take whatever job I was assigned and learn to do it the best that I could in every aspect so everyone—myself, my teammates and my company—succeeded. REVERSE MORTGAGE /MAY-JUNE 2024 7
RkJQdWJsaXNoZXIy MjQ1MzY1