reverse

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Reverse Mortgages have been around for some time though their popularity has increased dramatically over the last few years. Many homeowners particularly seniors are opting for reverse mortgages as an important part of their financial management program. Reverse Mortgages also provides banks and financial institutions with an important new product to offer consumers. Effective and correct implementation is the key to success for financial institutions who were offering this product.

The Knowledge Congress has assembled a group of key thought leaders in this area who will help your institution understand how to effectively offer & manage your customers’ Reverse Mortgages. The group will present their findings on Risk Analysis, Exam Procedures, Practical Guidance in an upcoming webcast.

Course Level: Intermediate
Prerequisite: None
Method Of Presentation: Group-Based-Internet
Developer: The Knowledge Group, LLC
Recommended CLE/CPE Hours: 1.75 - 2.0
(Please note, your State Bar or Accounting Board will make the final determination with respect to continuing education credit. If you are applying for CLE credit in Texas you must register 20 days before the event date.)
Advance Preparation: Print and review course materials
Course Code: 083805
Recording Fee: $299 (Please click here for details)
NASBA Sponsor Number: 109004

 

Featured Speakers for Reverse Mortgage live webcast:


  Event Talking Points (click here more events)
SEGMENT 1:


Edward J. Szymanoski, Assoc. Deputy Assistant Secretary for Economic Affairs, Office of Policy Development and Research,
US Department of Housing & Urban Development

- Hud's Financial management of HECM Reverse Mortgages
  - What's at stake
  - Managing Risk
     - Loan Level: Concept of Principal Limit
     - Portfolio Level: Credit Subsidy Rate and Financial Reporting
     - Effect of falling House Prices

- Financing HECM in the Private Sector
  - Primary Market participants
  - LIBOR vs. CMT
  - Secondary market
     - Non-agency securities
     - Ginnie Mae securities

- What the Future may Hold
  - Rising Demand
  - Trends in Supply
  - New Directions

SEGMENT 2:


Chuck Cross, Vice President, Mortgage Regulatory Policy,
Conference of State Bank Supervisors

- Discussion of the December 2008 release of the States' Reverse Mortgage Examination
  Guidelines (RMEGs). Modeled on the successful 2007 release of the Model Examination
  Guidelines (MEGs) for nontraditional and subprime lending, the RMEGs are a
  comprehensive examination format for state agencies reviewing reverse mortgage
  originations and portfolios. While developed primarily for examiner use, the RMEGs
  are designed to be useful for in-house compliance departments and outside auditors
  as well. Field implementation of the RMEGs will begin in early 2009.

SEGMENT 3:


Joseph P. DeMarkey, Reverse Mortgage Regional Sales Director,
Met Life Home Loans, A Division of Met Life Bank

- Lender's perspective of the market - including historical growth patterns, penetration rates, etc
- Product offerings in the marketplace today
- Feature Benefits of products - compare and contrast to "forward" mortgage products

SEGMENT 4:


Jim Milano, Member,
Weiner, Brodsky, Sidman, Kider, PC

- Reverse mortgage originations today are pre-dominantly the FHA-insured HECM program loan
  - if you are not in the HECM business, you are not in the reverse mortgage business; General
  FHA rules apply to HECM originations, as do specific FHA rules on HECM loans - we will cover
  some general FHA rules that we see originators dealing with more often, and also highlight
  some of the specific FHA HECM rules, give a quick overview of FHA rules on servicing HECMs;

- While there are specific rules that apply to reverse mortgages (besides the FHA rules on
  HECMs) laws of general applications may also have some peculiar applications to reverse
  mortgages - we will review these briefly, broken down between federal and state laws; at
  the federal level we will primarily focus upon TILA and RESPA, and at the state level we
  will discuss licensing or approvals, disclosures, fee limits, and prohibited practices,
  including laws on high cost or predatory lending and other laws designed to protect
  consumers; and

- There are specific federal (besides FHA rules) and state laws on reverse mortgages; we will
  cover these , including TILA, and at the state level several states' specific laws on
  reverse mortgages, including states such as CA, NC, TN and MA and others.



US Department of Housing & Urban Development
Edward J. Szymanoski
Assoc. Deputy Assistant Secretary for Economic Affairs
Office of Policy Development and Research
                        speaker bio »»

Conference of State Bank Supervisors
Chuck Cross
Vice President, Mortgage Regulatory Policy
speaker bio »»

Met Life Home Loans, A Division of Met Life Bank
Joseph P. DeMarkey
Reverse Mortgage Regional Sales Director
speaker bio »»

Weiner, Brodsky, Sidman, Kider, PC
Jim Milano
Member
speaker bio »»

Who Should Attend?

CRO and all Risk Management
Finance
Community development professionals
Housing experts
Bankers
Loan officers
Credit analysts
Compliance officers
Mortgage lenders
Appraisers
Accountants
Attorneys

Why Attend?

This is a must attend event for anyone interested in understanding the related issues and developments on Reverse Mortgage.
- New guidance explained by the most qualified key leaders & experts
- Hear directly from key regulators & thought leaders
- Interact directly with panel during Q&A

Registration Information:                                                                                                                                    



Reverse Mortgage: Risk analysis, Exam Procedures, and Practical Guidance
Speaker Firms:


US Department of Housing & Urban Development


Conference of State Bank Supervisors






 

Media Partner:


Reverse Mortgage Daily is the reverse mortgage industry's leading source for industry news, analysis, and commentary. In less than 2 years, RMD has grown to reach over 15,000 reverse mortgage professionals who rely on RMD to provide the information and insight needed to run their business.

 

 

The Knowledge Conference is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Suite 700, Nashville, TN, 37219-2417. Website: www.nasba.org

 

We are an approved multi-event sponsor in the state of California. Our provider ID is: 14451. In Texas, Illinois, and Virginia, we submit programs for individual approval in advance. In New York, our programs are submitted immediately after the event live date and attendees are sent the approval codes once we receive them from the New York State Bar. In all other states, once attendance is verified, participants are emailed an official certificate of attendance which they submit to their respective State Bar Associations. Our programs are created with continuing education in mind and are therefore designed to meet the requirements of all State Bar Associations. If you have any questions, please email our CLE coordinator at: info@knowledgecongress.org

 
Enrolled Agents Sponsor ID Number: 760

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