Lender Lead Solutions is adding a reverse mentoring program that will provide in depth training to help non reverse mortgage originators generate reverse mortgage business. The Reverse Mentoring Program consists of on-site training and on-going advisory services designed to assist traditional brokerage firms in developing reverse mortgage lending origination operations. The program will be offered as a course within the company’s LLS University Services which includes content for sales and operations personnel as well as other guidance from LLS staff.
“Until now, a traditional brokerage firm looking to move into reverse mortgages has had to look to many sources to compile all of the training and resources necessary to start up a reverse business,” said Tom Scabareti, vice president of business development at Lender Lead Solutions and executive responsible for the program. According to the press release, LLS is looking to team up with leading origination organizations that have a desire to add reverse mortgage products to their business. In order to be eligible for the training originator partners must be willing to dedicate at least five mortgage loan officer to reverse mortgage as well as an appropriate amount of operational staff. “We offer a compelling business solution for those organizations looking to expand their businesses,” said Peskin. “After three weeks, a company can be entirely up and running – working leads, taking applications and submitting loans.”
LLS looks to be taking the same approach as Reverse Mortgage Lenders Network when it comes to training brokers with no reverse mortgage experience. LLS will be working with non-FHA approved brokers as well as brokers that are already approved. To read a copy of the press release click the link below.