Jan-Feb2020

but when they heard the prices, it stopped them in their tracks. But many of them owned their houses and so had a way of getting what they wanted without incurring more debt. That got me thinking about reverse mortgages.” Around 2003, at his own expense, Canada attended a NRMLA conference in Miami. “I met some of the ‘old-timers,’ like Jeff Taylor and Brien Brandenburg. I still wasn’t sure, and then Brien hired me at Wells Fargo,” he says. Canada moved his wife, Elaine, and their three daughters to Holly Springs. He describes it as “a one-light country town, kind of like Andy and Opie’s Mayberry. Even though the first year was tough, I adapt to new situations pretty well. Elaine was very supportive, and we wanted something more rural for our daughters. Elaine is also a real numbers person, so she got into the mortgage business herself, and she really took off. Now, everybody loves it down here.” They recently moved from Holly Springs to nearby Fuquay-Varina, where they built a house. At Wells Fargo, Canada ended up becoming a sales manager andwas able to teach his tried-and-true techniques to others. “The most important trait,” he explains, “is the ability to ask good, probing questions. I would tell my team, ‘When you go on an appointment, think of at least five good questions to begin with.’ If you know how to ask questions, people will tell you what they’re looking for and how you can help. And then you have to know whether you can help them or not. Let them lead the discussion rather than just trying to sell your product.” Being what he calls a “top professional” is a prime value to Canada, which is why he’s so proud of his CRMP certification. “A lot of people might not even know what it is, but to those who do, it says that this person went the extra mile, and that opens doors,” he adds. Canada believes strongly that the CRMP certification demonstrates an individual’s knowledge and competency in the field of reverse mortgage lending and helps to uphold high standards of ethical and professional practice in the industry. Canada also has obtained other specialized training and certification. “When HECM for Purchase came around, I got my real estate license. I can now access people in all levels of the real estate business, get ‘behind the curtain’ and speak their language. I get continuing education, so I can fully learn their business and find ways to talk to them. This both helps you become a valuable resource to them and circumvents you wasting your own time.” He also obtained his Seniors Real Estate Specialist® (SRES) designation through the National Association of Realtors. The credential is specifically aimed at professionals who want to be able to meet the special needs of maturing Americans who are selling, buying, relocating or refinancing residential or investment properties. The SRES designation helps prepare real estate agents to approach mature clients with the best options and information for them to make life- changing decisions. “If you want to be a top professional, you have to be willing to put the time and energy into it,” Canada says. “When I see initials after someone’s name, to me that means they’re looking to learn more and achieve more of an edge.” On the whole, Canada thinks the changes that HUD has instituted in the HECM program have been mostly positive. “The program is morphing into something it was not, and it’s painful when you know it’s not going to work for a particular client,” he explains. “I think proprietary products will fill some of that void. I think proprietaries are a great idea, and I look forward to being able to use those products. But North Carolina has very specific rules about brokering them, some of which are challenging. I get referrals in South Carolina and Florida. I think the industry needs it, and that will be a way to go.” Canada is committed to Victorian Finance, a business started in 2003 by former chemical engineer E. H. “Sonny” Bringol Jr. Bringol employed the principals he learned as a technologist in having all functions work together, reverse engineering from the loan closing forward, and remaining adaptable to changing conditions. “I chose to work with Victorian Finance because of the family-like mindset of the people who work here,” Canada says. Canada has been through the ups and downs of the reverse mortgage industry and has heard from his fair share of naysayers. To them he responds: “Even though it needs retooling and we have to regroup ourselves from time to time, just hang in there. We’ll get it straight. Ten thousand people a day are turning 65, so there is always going to be a need for this program and our product. This is what keeps me in business!” CRMP: Across the Kitchen Table REVERSE MORTGAGE / JANUARY-FEBRUARY 2020 17