May/June 2022 Reverse Mortgage Magazine

CLAY SELLAND, CRMP, began his professional career as a certified public accountant with a national firm, which led to senior finance and strategy roles with Longs Drug Stores, Cost Plus World Market and several other startup retailers. Looking to get out of the corporate world, he formed Signet Mortgage Corp., in Danville, CA, in 2002. Four years later, Clay helped his aunt get a reverse mortgage, and he has been hooked ever since. Clay begins almost every day with a three-plus mile hike to his “tree” in the Last Trampas Regional Wilderness before sunrise with his border collie, Rori. Clay and his wife, Jai, enjoy traveling all over in the “Skybox”—a decked-out sprinter van. He enjoys helping people and is on the board for the Financial Planning Association of the East Bay, leading pro-bono activities at local libraries and for underserved members of the community. Reverse Mortgage Magazine sat down with Clay to learn more about his reverse mortgage career and what has made him successful for these many years. Reverse Mortgage: How did you get into the reverse mortgage business? Clay Selland: I started Signet Mortgage in 2002 after a career as a CPA and in corporate finance. Then, shortly after that, when the loan limit became relevant in California, I did my first HECM reverse mortgage in 2006 for my aunt who lives nearby. That loan continues to be a blessing to this day. She’s 85 and lives in the same single-story home that we financed way back when. She gets her check every month and is a happy camper. RM: That’s a long time to have a reverse mortgage. Has she refinanced? CS: It’s a good example of the underlying strength of a reverse mortgage. Her property is located in Stockton, CA. In 2008, her home’s value plummeted as a result of the Great Recession. Her home is still underwater, but she still gets that check every month exactly as the program was designed. RM: Do you have a particular approach to selling reverse mortgages that has worked over the years, or is it continually evolving? CS: I don’t like to sell. I would not be good at it. My professional background and my personality are far from being a salesperson. I studied accounting and finance in school and became a CPA and spent 15 years in corporate finance. My approach has always been to find ways to help people and clearly explain ideas and options. What I enjoy most is educating a client, financial advisers or family members about how a reverse mortgage can improve retirement plans. If it makes sense for all parties involved, we make it happen. If it’s not right for them, we have had the opportunity to share ideas and changed perceptions about the application of a reverse mortgage, and those clients have still become advocates. Clay Selland, CRMP, President, Signet Reverse Mortgage By Darryl Hicks From the Top Clay Selland 12 REVERSE MORTGAGE / MAY- JUNE 2022

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