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Reverse Mortgage: Risk analysis, Exam Procedures, and Practical Guidance
Edward J. Szymanoski
Assoc. Deputy Assistant Secretary for Economic Affairs
Office of Policy Development and Research
US Department of Housing & Urban Development
Ed Szymanoski was one of the principal architects of the Home Equity Conversion Mortgage (HECM) program, which is the US government insured reverse mortgage product. Mr. Szymanoski was also instrumental in the implementation and early evaluation of HECM, and he provides ongoing analytical support for this program today. Mr. Szymanoski currently serves as Associate Deputy Assistant Secretary for Economic Affairs at the US Department of Housing and Urban Development (HUD), where he oversees economic and policy support for HUD's programs, directs surveys of national housing conditions, mortgage markets, and interest rates; and provides recommendations for Departmental policy. In prior roles, Mr. Szymanoski directed the annual actuarial review of HUD’s home mortgage insurance fund, led modeling teams supporting HUD’s financial and budget reporting, and served at the Office of Federal Housing Enterprise Oversight, the safety and soundness regulator of Fannie Mae and Freddie Mac. Ed was born in Hartford, Connecticut and holds degrees in Applied Mathematics and Economics from Brown University and the University of Hartford.
Chuck Cross
Vice President, Mortgage Regulatory Policy
Conference of State Bank Supervisors
Chuck Cross is the Vice President for Mortgage Regulatory Policy for the Conference of State Bank Supervisors. His areas of emphasis are mortgage regulatory policy issues, professional development and support to the Nationwide Mortgage Licensing System.
Chuck is the former Director of the Washington Department of Financial Institutions Division of Consumer Services. In that capacity he supervised approximately 50 attorneys, examiners and professional staff in the licensing, examination and enforcement of over 20,000 non-depository financial institution individuals including mortgage companies, finance companies, payday lenders, check cashers and sellers, money transmitters, currency exchangers, escrow companies and refund anticipation loan facilitators. In 2005 Chuck was responsible for the implementation of regulations for the payday lending industry in Washington and in 2006 he guided the passing of two agency bills covering the licensing of loan originators and the criminal prosecution of mortgage fraud. Most recently Chuck piloted a team of regulatory and industry professionals in a negotiated rule writing process for the mortgage industry in Washington.
Prior to his promotion to Director in 2003, Chuck was the Division’s Enforcement Chief where he was responsible for over 200 regulatory enforcement actions and criminal referrals in Washington State. He was one of the key investigators, architects and negotiators of the multistate settlement with Household Finance and Beneficial Finance in 2002, which was the largest predatory lending case to date. From late 2002 through 2005 he investigated Ameriquest Mortgage and served on the multi-state Executive Committee for the country’s second largest predatory lending case, which was filed and settled in March 2006. Chuck was also responsible for directing the Washington Mortgage Fraud Prosecution Fund with an average annual budget of $1 million especially dedicated to prosecute these crimes.
Chuck is a former federal and state bank examiner. From 1990 through 1993 he was the vice president and general manager of a mortgage and escrow company. Chuck is a past president for the American Association of Residential Mortgage Regulators (AARMR), a past chair of the AARMR Mortgage Fraud Committee, and has been a subject matter expert and instructor for the National White Collar Crime Center. Chuck is a Certified Fraud Examiner with a degree in Accounting/Economics.
Joseph P. DeMarkey
Reverse Mortgage Regional Sales Director
Met Life Home Loans, A Division of Met Life Bank
Joseph DeMarkey is regional sales director for MetLife Bank’s Reverse Mortgage Division. He has been with MetLife Bank since May 2008. Previously, he was Vice President and Director of Corporate Development for EverBank Reverse Mortgage (which was purchased by MetLife in May 2008) and was responsible for business development and sales management since 1998. Joe has over 23 years of banking experience.
Joe has served on the NRMLA board of directors since 2003, and was nominated as co-chair of the NRMLA board in 2007. He served on the board of directors for the Central Massachusetts Area Agency on Aging for 6 years. Joe received his undergraduate degree from Villanova University (1985) and a Master’s of Business Administration degree in finance from the University of Connecticut (1994). He lives with his wife and two children in Massachusetts.
Jim Milano
Member
Weiner, Brodsky, Sidman, Kider, PC
James M. Milano is a member of the law firm of Weiner Brodsky Sidman Kider PC, based in Washington D.C., where he practices in the areas of mortgage banking, consumer finance, financial institutions and real and personal property law. He regularly advises financial institutions involved in mortgage lending and consumer credit operations on matters of state and federal regulatory compliance, product design and loan documentation. A significant portion of Jim’s practice focuses on matters involving the marketing, origination and servicing of reverse mortgage loans.
Jim obtained several Bachelors’ degrees from Louisiana State University (B.A., B.S. (1983), B.A. (1986)); and also obtained his law degree from the Paul M. Hebert School of Law at Louisiana State University (J.D. 1989). Jim attended Emory University in Atlanta, Georgia where he obtained a Masters of Law degree in taxation (LL.M. 1991).
Jim is a member of the Louisiana State Bar Association, the State Bar of Georgia, the Virginia State Bar, the Maryland State Bar Association, The District of Columbia Bar, and the American Bar Association (Member, Consumer Financial Services subcommittee).
Jim is active in several trade associations where he often presents on topics of interest to industry members. Jim is an Alternate Delegate to the National Reverse Mortgage Lenders Association, and a member of the MBA and the MBA of Metropolitan Washington, D.C., and the Conference on Consumer Finance Law.
Reverse Mortgage: Risk analysis, Exam Procedures, and Practical Guidance
Speaker Firms:
US Department of Housing & Urban Development
Conference of State Bank Supervisors
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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.
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