Your Estate

Last week AllRegs announced the release of its new Think Reveres Practical Guide.  The guide is based on the book written by Atare E. Agbamu and is designed for originators, servicers, and investors in the mortgage business.      

"The popularity of the reverse mortgage market is growing, and to get into this sector of the business, mortgage professionals need to be well-versed in the specifics of this product," said Dan Thoms, AllRegs senior vice president. "The Think Reverse Practical Guide is a central resource for learning how to incorporate reverse mortgages into your product line, and create new opportunities for your business, including a new customer base."

The Think Reverse Practical Guide includes the following sections.

• Part I: The New Pillar of Retirement Security
• Part II: Marketing Reverse Mortgages: It’s All About Education
• Part III: Originating Reverse Mortgages
• Part IV: Enhancing Freedom: The Essence of Reverse Mortgages
• Part V: A New Frontier in Mortgage Lending

According to the press release, subscriptions are based on site-wide licensing and all users at one company will have access to the searchable resource online through AllRegs.  The annual subscription rate for one location is $495 and is also available through AllRegs Academy’s Learning Pass education program.

Think Reverse Practical Guide

Certified Financial Planner and Times Herald contributor Al Benelli recently wrote about the Financial Industry Regulatory Authority’s warning earlier this year about reverse mortgages.  Benelli feels that the strong warning makes him wonder if the regulator of the securities industry had more up its sleeve.

FINRA’s announcement was meant to warn investors to be aware of individuals who propose reverse mortgages to fund a particular investment.  “We believe these (reverse mortgages) are being promoted more and more and investors need to understand what they’re purchasing,” said John Gannon, FINRA’s senior vice president for investor education in Washington.

Many people in the reverse mortgage industry felt the announcement was entirely one sided and did more to scare investors rather than inform.  You can read one RMD readers reaction here.  

Being a financial planner, Benelli is able to provide some more insight into the announcement and gets some reactions from other people in his industry.  One financial planner felt that issuing warning runs the risk of doing as much harm as good.  While the piece might be a few months after the FINRA announcement, it’s interesting to get other financial planners reactions to the alert. 

Regulatory authority issues reverse mortgage warning