BRECKSVILLE, OH, December 15, 2020 /PRNewswire/ — CrossCountry Mortgage, LLC (CCM), a nationwide mortgage lender headquartered in Brecksville, Ohio, is pleased to announce that it has joined as a corporate partner with the Society of Financial Service Professionals (FSP). CCM’s goal with this partnership is to educate FSP members about Home Equity Convertible Mortgages (HECMs)/Reverse Mortgages, help them understand the benefits of this type of loan, and show them how they help their clients be able to use real estate assets in retirement income planning.
CCM has a dedicated HECM team composed of credit professionals with over 50 years of combined HECM/reverse mortgage experience. The HECM Division is headed by Susan A. PomfretRICP®, which was one of the first to develop a HECM in 1989 as part of the FHA pilot program.
“Flexible financial options are very important when seniors retire,” Pomfret said. “Life changes as you get older, and many need a safety net for unexpected events and to minimize retirement risk.”
She added: “Our industry has been plagued by misunderstandings for too many years. Seeing the need to incorporate real estate assets into retirement planning early on was one of the reasons I decided to receive my Retirement Income Certified Professional (RICP®) designation from The American College of Financial Services.”
In 2014, the Financial Industry Regulatory Authority (FINRA) updated its Investor Alert on reverse mortgages, noting that recent changes to the program added additional protections for borrowers. FINRA also said it would issue the warning to urge homeowners considering reverse mortgages to make informed decisions and carefully weigh all of their options before proceeding. Those who choose a reverse mortgage are encouraged to use their loan wisely.
“Our mission is to empower our members to provide their clients with the highest level of ethical service,” he said David M Maola, JD, MBA, CEO of FSP. “We do this by fostering mutually beneficial, multidisciplinary relationships and providing high-level, world-class educational opportunities in collaboration with industry experts and thought leaders. We recognize CCM’s leadership in this area and their commitment to educating consultants about HECMs and the reverse mortgage to industry.”
“Partnering with the Society of FSP was a natural fit,” he said Ron Leonhardt, CEO and President of CCM. “Last February we had the honor of sponsoring their FSP Institute 2020 event where we saw how they provide world class resources both nationally and locally to help members expand their knowledge .”
“As with any financial product, clients must rely on experienced professionals to educate them about the risks and benefits to ensure they make an informed decision,” Pomfret said. “CCM’s HECM team will work with FSP to provide training materials such as webinars, articles and other content to FSP members and non-members through FSP’s e-commerce website, FSPwalk.
“We are excited to partner with FSP and look forward to not only helping more retirees across the US, but also providing finance professionals with training and a tool that can help them mitigate losses in their clients’ retirement portfolios.” said Pomfret. “Our team’s goal is to enable retirees to have a financially less stressful retirement, and this partnership will help us achieve that.”
About Cross Country Mortgage:
CROSSCOUNTRY MORTGAGE, LLC is a nationwide mortgage lender founded in 2003 by its CEO Ronald J. Leonhardt Jr. The company has more than 5,000 employees and licenses in all 50 states. An Authorized Seller and Service Provider of Freddie Mac, Fannie Mae and Ginnie Mae, CCM offers a broad portfolio of homebuying and refinancing programs ranging from conventional and jumbo mortgages to federally insured programs for veterans and rural homebuyers. Other options include down payment assistance, home equity products, and expedited closing programs. CrossCountry Mortgage is on the Inc. 5000 list of America’s Fastest Growing Private Companies and received the 2019 Weatherhead Centurion Award for Revenue and Growth. For more information, please visit CrossCountryMortgage.com.
About the Society of FSP (www.SocietyOfFSP.org):
The Society of Financial Service Professionals (FSP) is a specialized financial services association; The membership is a multidisciplinary community of experienced professionals – including CPAs, attorneys, insurance professionals and financial advisors from all disciplines – that reflects the collaborative nature of today’s financial services. FSP has a strong heritage of delivering quality education in a variety of formats (webinars, live programs, audio programs) and authoritative publications, including the Journal of Financial Service Professionals, while providing a robust membership benefits portfolio that continues to evolve to to get relevance. As the home of today’s professionals and those who aspire to be tomorrow’s thought leaders, FSP stays true to its core values of education, relationships and ethics while providing access to world-class resources critical to the success of advisors and their clients.
SOURCE CrossCountry Mortgage, LLC