Reverse mortgage lenders have long worked with different groups such as Realtors and financial planners toward continuing education efforts. To date, some lenders and other parties have developed classes for these potential referral partners, such as those for Realtors and education around the Home Equity Conversion Mortgage for Purchase.
And now, one reverse mortgage originator has been approved as a continuing legal education resource in the state of New York, under the state’s bar association, to offer a class on reverse mortgages for attorneys to earn Continuing Legal Education credits.
FirstBank’s Marketing Manager Ed O’Connor has received accreditation by the New York Bar Association to offer the class, which will grant three continuing education credits to those who complete the course. Attorneys in New York are required to obtain 24 credits biannually.
The approval process took roughly three years, O’Connor says, but could set precedent for similar approvals in other states.
“As for other states, some states are reciprocal, others are not,” he says. “Where I can and logistics make sense, I will definitely be seeking further approvals.”
O’Connor brings many years of reverse mortgage experience, including his past role as president of Advance Funding Solutions. His experience spans ownership of his own accounting and tax practice as well.
Written by Elizabeth Ecker