For Chris Freck, CRMP, the programs and networking have been invaluable. He says he started undergoing training for reverse mortgages in 2007, but his NRMLA membership that began in 2019 jumpstarted his business. “It provided the product knowledge and network of connections necessary to help us focus more heavily on reverse as a business channel,” Freck says. The independent bilingual mortgage brokerage EstaR Mortgage in California was founded in 2016, a year before he attended his first NRMLA event. “We’ve added two seasoned reverse originators since 2019, one of whom I first met at a NRMLA event, and we’ve trained two more forward originators to understand and recognize reverse opportunities. We’ve begun to reach an underserved reverse segment with our bilingual Spanish-language client base, as well.” Professional Approach The year 2023 was challenging for the reverse mortgage industry overall, Scheper says, “due to inflation, higher rates and lower loan amounts.” Freck says the “precipitous drop in forward mortgage unit volume” led many forward loan originators to want to learn more about reverse mortgages. As a NRMLA member who is in it for the right reasons—“following the Code of Ethics rather than taking an order like a call center”— his company has adhered to the standard of putting people first, which starts with education and professionalism, he adds. For example, he says, “we have always engaged the loved ones upfront in the education process, counseling and decision with their reverse-eligible parents.” His dedication led him to seek the CRMP designation, the professional credential earned after rigorous training through NRMLA. Freck says he passed the exam in October. More than 200 professionals hold Milestones continued on page 32 Chris Freck NATIONWIDE REVERSE MORTGAGE FIELD SERVICE EXPERTS FOR OVER 30 YEARS 1.800.639.2151 www.nfronline.com Inspections - Preservation - Insurance Loss Inspections - Violation Management - Vacant Property Registrations - Utility Management - REO Services - Special Services “I feel strongly that the only way the average homeowner is going to feel comfortable with the reverse mortgage programs is if the financial services community also fully understands it and the proper implementation of a reverse mortgage.” —Chris Downey, senior vice president of The Federal Savings Bank REVERSE MORTGAGE / JANUARY-FEBRUARY 2024 31
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