Signaling the importance of the new Home Equity Conversion Mortgage (HECM) counseling protocols, 627 reverse mortgage professionals took part in a webinar provided by Reverse Fortunes to learn more about the new regulations.
Attendees included reverse mortgage originators, government officials, and trade association executives.
The educational session was focused on HUD’s new counseling protocol as it relates to the F.I.T. (Financial Interview Tool) component, and was moderated by Shannon Hicks, a Reverse Fortunes Partner and Vice President of Product Development.
“This firm is concerned that its members are not prepared for the ever changing regulatory and business environment. Reverse Fortunes is committed to providing a level of support to the Broker/Originator that is committed to the Reverse Mortgage Industry”, said Hicks. “The more efficient we become at the distribution of such information, the more prepared the industry will be relative to appropriate origination practices. This fact benefits the industry as a whole.”