to any one of our exam-qualified, U.S. Department of Housing and Urban Development-certified housing counselors at Cambridge, and you’ll quickly realize they all have this in common. Counselors explain a complex subject in a way that allows clients to understand and retain the most important points. They break down difficult subjects into easier steps, use vocabulary to suit individual needs and find ways to link new ideas to more familiar ones. They want to educate and help clients make decisions they can live with. Right now, we’re seeing firsthand the unprecedented financial challenges older adults are facing across the United States. Many clients we speak with are struggling to pay their basic living expenses or have no realistic way to plan for emergencies. A portion of our counseling session is devoted to screening for public and private benefits that can help clients pay for needs such as food, utility bills, prescription costs, home care and other everyday expenses. Being able to provide these resources is one of the most rewarding aspects of our job. The reverse mortgage counseling requirement should never be minimized or trivialized. It’s an opportunity for potential borrowers to meet with an unbiased expert in the field who can help them assess their overall needs, locate resources and help them make informed decisions about their most important asset. I invite reverse mortgage loan officers to emphasize the value of counseling when speaking to their clients about that next step. A HECM is a complicated often misunderstood product, and we all need to work together to ensure applicants fully understand it before making a commitment. One way or another, each homeowner’s decision affects the way reverse mortgages are perceived in the marketplace. It is ultimately the responsibility of loan officers and counselors alike to continue to improve the reputation of this vital program. Partnership you can trust. Dedicated to never competing with you - your success is our success. Ready to experience the difference? Visit Celink.com Deep Industry Experience 96% Borrower Satisfaction Rating Independence and Alignment with Clients Robust Specialized Technology Reverse Mortgage Is Our Core Competency © Celink. All rights reserved. NMLS #3020 - http://nmlsconsumeraccess.org. Compu-Link Corporation dba Celink (WA license# CL3020 and 603 018 607) Board Room REVERSE MORTGAGE / MAY–JUNE 2023 7
RkJQdWJsaXNoZXIy MjQ1MzY1