“When people have questions, they’re going to ask somebody who has the experience,” says Bruce Anderson of Legacy Mortgage in Albuquerque, NM. “Reverse mortgages still have a continuing challenge on the reputation of the product so it’s helpful to have someone with the CRMP designation to explain how the program works. I pride myself in explaining thoroughly how it works, and that sells itself. If the customer sees the need and the value in it, they will proceed.” Knowledge and Ethics The CRMP designation was launched in 2009. In the preceding years, the originations of HECMs were skyrocketing, but some companies and loan officers didn’t understand the product. Within NRMLA, professionals volunteered their time to develop a credential that would reflect a deep knowledge of the product and adherence to a strict ethical code. For two years, the group worked with Orlando, FL-based Professional Testing Inc., sharing its expertise in operations, origination, processing, underwriting and servicing. In 2010, Anderson was in the first class of 13 people to earn the credential. Anderson made a career change to enter reverse mortgages, and he decided the designation would help him establish himself as a professional. “I decided that if I was going to advise retirees and seniors on the last financing they may do on their home going forward, I should have the experience and background of a professional organization to help advise them,” he says. Over the years, NRMLA meetings and CRMP continuing education requirements have helped Anderson keep pace with changes. When the U.S. Department of Housing and Urban Development last increased reverse mortgage lending limits, NRMLA’s CRMPs “probably found out the same day it came out, and that helps you plan going forward,” he adds. Demonstrated Commitment In 2009, David Heilman’s mentor, Paul Franklin, served on the committee that created the CRMP. Heilman, of HomeGrown Financial LLC in Mount Pleasant, SC, was still early in his reverse mortgage career after leaving healthcare. He saw the CRMP as a guide to help him navigate the industry. “Early in my career doing reverses, it showed a level of commitment to the industry,” Heilman says. Heilman has maintained his CRMP since earning the designation in 2011. Like many others who hold the designation, he finds that it helps him prove himself quickly among professionals, such as financial advisers and bankers, who understand the designation world. “Their designation didn’t come easy,” Heilman says. “They have to maintain it. There’s a certain level of respect there.” Karen Pryor, of Mutual of Omaha Reverse Mortgage in Torrance, CA, says she believes all reverse mortgage professionals should be certified, with grandfathering allowances for those who have been focusing solely on that product for many years. She says that is because of the product’s unique nature and critical function. She earned the CRMP in 2021. She did so in order to present herself as an educated professional, especially because her networking involves working with financial advisers, estate planning attorneys and fiduciaries. “A great many of them have certifications,” Pryor says. “And I wanted to present myself on the same level.” Certification, she adds, shows that the holder strives to reach a higher standard. “It says to clients and the people who are doing business with you that I take this seriously,” she adds. “I am putting everything I have into understanding this product and how to best represent it and do the best job I can for my clients.” Building a Foundation Des Lenz, director at American Pacific Reverse Mortgage Group in Roseville, CA, draws confidence from earning the credential in 2022. For many years, he didn’t feel that he needed another test to prove his expertise. But he started wondering how he stacked up against his peers. “What’s required for you to know, and do I know it?” Lenz says. “The test was a good experience. They asked appropriate questions and made you think about what you know about the industry.” Even a discussion about the credential with clients and other professionals adds credibility, he adds. “Right now, that’s especially necessary because there are so many Selling With Authority continued from page 31 David Heilman Karen Pryor 32 REVERSE MORTGAGE / MARCH–APRIL 2023
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