TRAINING CENTER

This is the introductory module to the course designed to get you started on your journey to understanding reverse, the course, and other courses we offer. 

We discuss some of the ways reverse mortgages are different from traditional financing and lay the foundation for future classes with reverse terminology.

We give a historical background of the industry and provide a framework for understanding regulations, wholesale providers, and resources.

In this module, we discuss facts about seniors, the senior market, some challenges they face, and some best practices when interacting with them.

Here we offer basic reverse mortgage guidelines as well as a quick overview of non-borrowing spouses, counseling, financial assessment, and fees.

In this module you learn how HECM principal limits are calculated, the factors that determine principal limits, and HUD’s principal limit factor tables.

We cover HECM for Purchase and HECM-to-HECM refinancing and then discuss rate types, adjustments, and caps.

Understand initial disbursements and mandatory obligations as well as the various ways the borrower can receive their funds.

We discuss why we use two rates, how they are calculated, the impact of rates, how they are locked, and much more.

Here we examine the most powerful feature of the HECM product. If you want to work with financial advisors, you’ll need to know and understand this module.

We discuss HECM for Purchase fundamentals, motivations, processes, guidelines, and restrictions, and we even provide examples.

In this module, we consider why one would consider a refinance, anti-churning guidelines, seasoning requirements, and how IMIP is adjusted for these loans.

See how proprietary products are similar/different and look at both restrictions and opportunities. These products are more than jumbo reverse loans.

This important discussion covers the public perception challenges you’ll face in the reverse mortgage business. We identify what you’ve heard and counter with the truth.

We discuss multiple ethics concerns, including prepayments, cross-selling, churning, borrower competency, reverse mortgage advertising, trigger phrases, and more.

In this module we jump right into property-related guidelines like property types, condo approvals, commercial use of the property, and appraisals.

Here we discuss repairs that must be done prior to closing as well as how a repair set-aside functions for repairs completed after closing.

We look at two types of non-borrowing spouses and examine protections that allow one to remain in the home after the death of the last borrower.

In this module, we go deeper into HUD’s requirement that we examine the borrower’s credit history and property charge history.

Here we explore guidelines related to HUD’s requirement that we examine the borrower’s monthly income and expenses to ensure the product is a sustainable solution.

In this module, you learn the calculations and processes that allow the lender to pay property charges on behalf of the borrower.

We cover the guidelines related to the designations that allow a family member or trusted advisor to assist the borrower in the reverse mortgage process.

While proprietary reverse mortgages share some guidelines with their HECM counterparts, we will discuss many of the ways they can be different.

In this module, we discuss the counseling process, certificates, and prohibited practices, as well as some of HUD’s required counseling protocol.

Here we examine the most underutilized HECM option and discuss the process and guidelines that make it unique in the world of mortgage finance.

We go beyond why homeowners refinance HECMs and cover anti-churning guidelines, industry advisories, and counseling waivers for refinances.

In this module, we consider guidelines related to rate changes, prepayments, occupancy certification, property charge defaults, and more.

Learn to recognize guidelines that might create issues for your borrower and/or the loan application, like estranged spouses, repairs, state restrictions, and more.

This important discussion offers guidance to get the loan closed when the applicant is short-to-close or faces financial assessment challenges.

This module highlights guidelines that are not well known, are commonly misunderstood, or contrary to popular belief guidelines that don’t exist.

In this module we provide loan originators with a high-level overview of the reverse mortgage sales process from lead generation to loan application.

Here we provide an overview of the most common methods for generating reverse mortgage business. including direct-to-consumer and referral partnerships.

In this module, we look at the art of asking questions rather than pitching a product. The goal is to both build rapport and discover the client’s needs, wants, and desires.

In this module, we go deeper into helping the client understand the key concepts about reverse mortgages and their options.

Here we explore the six most common client objections regarding reverse mortgages and then provide the student with compliant responses to overcome them.

In this module, you learn what is included in the proposal package and how to properly explain the three critical disclosures to the prospect.

In this module we cover what is in the application package, highlighting critical disclosures that all parties need to fully understand.

Here we discuss critical business development talking points and key features that can assist loan originators in maximizing their reverse mortgage sales.

In this module, we caution the student against making statements in their sales presentations that could be considered an unfair, deceptive, or abusive, act or practice.

Build your purchase reverse business by understanding and communicating the advantages of this product to real estate professionals and builders.

Build your business with advisors by understanding their needs and communicating the strategic financial planning advantages for retirees.

In this module, we’ll explore scenarios and common problems for which the reverse mortgage may be the ideal solution.