go-to grandchild. Those experiences helped me develop insights and skills that are hard to obtain any other way. For most people in the forward mortgage business, it’s quick, quick, quick. In the reverse mortgage business, it’s a different cadence, and learning that from someone who has the experience will make a new loan officer successful sooner. RM: You became a Certified Reverse Mortgage Professional four-and-a-half years ago. What was your motivation for becoming a CRMP? How has it impacted your business? CS: I think the CRMP is very valuable to the business. Relatively few originators have earned it. The CRMP is an honest certification. There’s work to be done before you can submit your application. There’s ongoing work to be done to maintain it. Here is an example of how it has benefited me: There’s a small group of CRMPs from the best broker shops around the country who have a call every Thursday morning to talk shop and help each other with issues, strategies and industry changes, which helps us better serve our clients. I also maintain a current CPA license in California, so I have that propensity to stay educated, current and relevant. RM: Given your involvement with the East Bay chapter of the Financial Planning Association, do you see financial planners as a key ally in growing the reverse mortgage business? CS: Absolutely. I currently serve as a pro bono co-chair and treasurer, which is my way of giving back to the community. My pro bono activities include meeting one-on-one with people who need financial advice but don’t have the means to pay for it. I’ve been involved with the East Bay chapter for a long time, and I’ve found every conversation I’ve ever had with a financial planner to be beneficial for both of us. There is a multitude of elements to a complete financial plan. Considering home equity as a key piece in every financial plan is somewhat new, but it’s gaining acceptance. In my conversations with financial planners, we get fairly deep into the pros and cons. Every conversation is positive. I’ve been successful in converting almost 100 percent of the skeptics into advocates. Usually, when I start a conversation, I often start with, “Did you know you can purchase a home with a reverse mortgage?” and the response is, “What? Why would you do that?,” which leads into a 15-minute conversation about buying a better home with no mortgage payment. Eventually, the conversation leads into how a reverse mortgage can create a more secure and flexible financial plan. RM: Thank you. Do you have any professional goals for 2022 that you’d like to share? CS: I’d like to make reverse mortgages a larger percentage of my business, because it’s more fun and rewarding. One of my favorite clients was a couple in their late 50s who refinanced their forward mortgage with me twice. They were still working, but on these occasions, I mentioned to them that they should start thinking about a reverse mortgage for when they retire. I ended up doing a refinance of their home when they retired and a HECM for Purchase when they moved to a retirement community a few years later. All my reverse mortgage clients are advocates for me—they love the result—and, in every case, it is helping them a lot in retirement. From the Top continued from page 13 From the Top TIMING IS EVERYTHING. WE’LL HELP YOU GET IT RIGHT. Every day, thousands of Americans turn 62, becoming eligible for a reverse mortgage and unlocking new ways to: ✓ Eliminate monthly mortgage payments ✓ Extend retirement savings ✓ Pay for long-term care insurance ✓ Buy a home SALESBOOMERANG.COM Get Reverse Mortgage Alerts Don’t miss the chance to help borrowers manage expenses in retirement. 14 REVERSE MORTGAGE / MAY- JUNE 2022
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