Security One Lending and its parent company Reverse Mortgage Solutions. are establishing an advisory board toward eliminating reverse mortgage misconceptions among financial planners and regulators.
A task force of academicians will meet at Security One’s San Diego-based home office and will be hosted by Torrey Larsen, president of retail lending and Shelley Giordano, director of business development for the company.
Board members span several different industries to include John Salter, associate professor of financial planning for Texas Tech University; Rita Cheng, Ameriprise; Steven Sass, program director for financial security at the Boston College Center for Retirement Research; Sandra Timmermann, former Director of the Mature Market Institute; and Barry Sacks, former tax and pension lawyer.
“Security 1 Lending has been on the forefront of business development strategies, and this represents our commitment to not only growing internal volume, but finding ways in which the industry can be positively impacted by sharing our research and findings,” Giordano said. “This exclusive group of thought leaders will ensure our path is well defined and clear.”
The companies’ announcement of the advisory board comes on the heels of changes to the Federal Housing Administration’s Home Equity Conversion Mortgage program that will require education among borrowers, lenders and affiliated parties such as financial planners, Realtors and regulators.
“Security One Lending and RMS believe future growth for the Reverse Industry will be driven in large part through the utilization of the HECM as a part of one’s overall financial plan,” Larsen said. “The ability to have this group of “thought leaders” from the financial advisory and research communities provide strategic guidance to S1L’s evolving Financial Advisor model is extremely valuable.”
Written by Elizabeth Ecker
