Primary Residential Mortgage (PRMI)’s Steven J. Sless Group, the lender’s consumer-direct retail branch focused solely on reverse mortgages in Owings Mills, Md., has announced a new affinity partnership with the Institute for Divorce Financial Analysts (IDFA) – an organization which provides specialized training to accounting, financial and legal professionals in the field of pre-divorce financial planning – designed to educate IDFA certified professionals on ways in which a reverse mortgage could be of potential use to senior clients.
As a part of the partnership, the Sless Group will produce video content and written articles for the organization’s quarterly journal, and will also appear and speak at the IDFA National Conference. The group will also host a webinar where members can receive CFP credits and will act as a continuing education program sponsor.
“IDFA is the premier organization for financial professionals in the divorce arena and we are thrilled to team with them as their reverse mortgage resource,” said Steven Sless, PRMI’s reverse mortgage division president with the Steven J. Sless Group. “We look forward to helping their members better serve their 60+ clients by having a deeper understanding of how reverse mortgages can help both parties move forward with their divorce fairly.”
“Gray divorce,” a term used to describe a divorce that takes place for couples over the age of 50, continues to rise in the United States. According to 2017 data compiled by the Pew Research Center, the rates of gray divorce have doubled since 1990, and the reverse mortgage industry has taken notice by viewing that growing prevalence as an avenue of potential business.
Providing more resources to help older divorcing clients with planning out their financial futures is always a good practice, and the reverse mortgage proposition may be appropriate in some situations according to Carol Lee Roberts, IDFA president.
“With an increasing divorce rate across the United States among older couples, we are pleased to partner with The Steven J. Sless Group of PRMI and provide their quality educational materials as an additional resource to our CDFA® professionals,” said Roberts.
Recently, the Sless Group announced an expansion resulting in the creation of a new branch based in San Diego, Calif., led by new division manager Christina Harmes Hika. The group also recently launched a new reverse mortgage video series through popular video sharing website YouTube.