Jan-Feb2020

The Rules of the Game Trainers offer tips on dealing with HECM myths By Thomas A. Barstow 26 PUBLISHER Peter Bell pbell@dworbell.com SENIOR EDITOR Thomas A. Barstow thomas.barstow@theYGSgroup.com ASSOCIATE EDITOR Darryl Hicks dhicks@dworbell.com MANAGING EDITOR Sam Hoffmeister samuel.hoffmeister@theYGSgroup.com COMMUNICATIONS COORDINATOR Jessica Hoefer STAFF WRITERS Jamie Hopkins Mark Olshaker PRESIDENT Stephen Irwin NRMLA EXECUTIVE COMMITTEE CO-CHAIRS Scott Norman, Finance of America Reverse Reza Jahangiri, AAG DESIGNER Emily Graf ADVERTISING SALES Natalie Matter Bellis natalie.matterbellis@theYGSgroup.com Reverse Mortgage is the official publication of the National Reverse Mortgage Lenders Association. The magazine is published every two months. For inquiries regarding association membership and/or magazine subscriptions, please call Darryl Hicks at 202-939-1784. Advertising and editorial inquiries should be directed to Max Lalwani (max.lalwani@theYGSgroup.com ) and Sam Hoffmeister (samuel.hoffmeister@ theYGSgroup.com), respectively. Association & Subscription Contact: National Reverse Mortgage Lenders Association 1400 16th St., NW, Suite 420 Washington, DC 20036 202-939-1760 lross@dworbell.com Industry: www.nrmlaonline.org Consumers: www.reversemortgage.org Advertising & Editorial Contact: National Reverse Mortgage Lenders Association 1400 16th St., NW, Suite 420 Washington, DC 20036 202-939-1760 ©2020 National Reverse Mortgage Lenders Association Contents Talking Heads Vanessa White, Eastern Regional Sales Manager, Reverse Mortgage Funding LLC By Darryl Hicks 12 Features 18 Bursting Onto the Scene The search for new products is nationwide as lenders seek alternatives to HECMs By Joel Berg 22 Counseling: Integral to Getting Deals Done Experts review the pitfalls and offer advice to ensure a smooth process By Mark Olshaker 29 A Rebound Afoot Industry trends have lenders seeking new products and markets in the Mid-Atlantic By Joel Berg Columns 3 In Reverse Proprietary products dominate By Thomas A. Barstow 5 Steve Irwin: Moving Forward Leading change must inform your strategy 6 Jamie Hopkins: Retirement Prep Is your client’s Social Security taxable? 32 Borrower Chronicles Life of leisure By Mark Olshaker Departments 2 Scribes Meet this month’s contributors 8 The Biz Get up to date on the industry, the press and Washington, DC 34 Member News/Who’s Who in Reverse 36 Numbers The HECM portfolio January-February 2020 Volume 13, No. 1 CRMP: Across the Kitchen Table Securing a client’s happiness: A chat with Lance Canada, CRMP By Mark Olshaker 16