Could Getting a Reverse Mortgage Help You Save Money?
What is a Reverse Mortgage all about?
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FOR IMMEDIATE RELEASE
April 1, 2016
Local Businessman Awarded Special Reverse Mortgage Designation
Lady Lake, FL—Robert Wyatt, a reverse mortgage specialist and owner of Reverse Mortgage Advisors, has joined an elite cadre of mortgage professionals who have achieved the status of being a Certified Reverse Mortgage Professional (CRMP). National Reverse Mortgage Lenders Association (NRMLA), headquartered in Washington, D.C., bestowed the certification on Wyatt after he passed a rigorous exam and background check, thereby demonstrating a competency in the area of reverse mortgages and a dedication to uphold the highest ethical and professional standards.
Only 121 individuals nationwide currently have the CRMP credential.
“Being one of 121 people nationwide to have achieved this milestone is a testament to my commitment to the highest professional expertise and ethical standards in providing reverse mortgages to qualified homeowners,” says Wyatt.
“The process involved to receive this professional designation was long and arduous and reflects the personal dedication with which I, and other members of my firm, serve our clients with the greatest care and expertise,” Wyatt added.
To qualify for the designation, applicants must have originated reverse mortgages for a minimum of three years or personally closed at least 50 loans; earned 12 continuing education credits; completed NRMLA’s Ethics Course; passed a comprehensive exam; and a background check. The certification is valid for three years, during which time designees must earn 8 CE credits annually to be re-certified. Applicants who are not loan originators, but nonetheless work in areas vital to the business, such as training, counseling, processing, underwriting and servicing, must have three or more years of experience.
“Rob is one of 121 individuals with the Certified Reverse Mortgage Professional designation. As a CRMP, he has demonstrated knowledge and competency in the area of reverse mortgage lending, and is dedicated to upholding high standards of ethical and professional practice in the industry.” said Peter Bell, President and CEO of the National Reverse Mortgage Lenders Association.
Reverse mortgages are available to homeowners 62 years old and older with significant home equity. They are designed to enable older Americans to borrow against the equity in their homes to help fund retirement needs, without having to make monthly payments as is required with a traditional “forward” mortgage or home equity loan. Under a reverse mortgage, funds are advanced to the borrower and interest accrues, but the outstanding balance is not due until the last borrower leaves the home, sells, or passes away. Borrowers may draw down funds as a lump sum at loan origination, establish a line of credit or request fixed monthly payments for as long as they continue to live in the home. To date, more than 963,000 senior households have utilized an FHA-insured reverse mortgage.
About Rob Wyatt
Rob Wyatt, Principal, is a 27-year veteran in the financial services industry, with more than 23 years exclusively dedicated to the Reverse Mortgage sector.
His professional experience, together with his core personal values, reflect his genuine passion for helping clients remain financially independent and solvent, for peace of mind and security during their retirement.
Recognized as a leader in the National Reverse Mortgage industry, Rob has served as:
• 12-year Board Member, National Reverse Mortgage Lenders Association (NRMLA), Washington, DC
• 2-term Director, Board of Directors for the Florida Council on Aging, Tallahassee, Florida
• 10-year Vice President, Fifth Third Bank, Reverse Mortgage Division, Cincinnati, Ohio
Rob holds a Bachelor’s Degree in Agribusiness from Illinois State University, Bloomington-Normal, Illinois. He also has attended, as well as presented at, numerous financial and mortgage-industry conferences throughout the U.S. He has personally discussed the importance of the Reverse Mortgage program with the staff of the Vice President, Joe Biden’s office, and has testified before Congress, as a NRMLA Board Member. Rob’s passion is to educate and inform the public regarding the value and importance of Reverse Mortgages. Rob is also a Certified Senior Advisor and licensed (nmls319804) as a Reverse Mortgage Originator in the state of Florida.
In addition to his professional endeavors, Rob is a dedicated husband to his wife of 30 years, Kerrylynn Wyatt, a registered nurse. They are proud parents of two beautiful daughters. Rob and Kerrylynn, both natives of the Midwest, live, and play in The Villages, Florida.
About the National Reverse Mortgage Lenders Association:
The National Reverse Mortgage Lenders Association (NRMLA) is a membership organization comprised of over 300 companies and more than 2,000 people participating in the reverse mortgage industry. NRMLA serves as an educational resource, policy advocate and public affairs center for lenders and related professionals. NRMLA was established in 1997 to enhance the professionalism of the reverse mortgage business.
For information contact:
Darryl Hicks, Vice President, Communications, NRMLA