Miami, Florida (PRWEB) March 28, 2014
Philip Stevenson, a reverse mortgage specialist with PS Financial Services, has joined an elite cadre of mortgage professionals who have achieved the status of Certified Reverse Mortgage Professional (CRMP). National Reverse Mortgage Lenders Association (NRMLA) bestowed the certification on Stevenson after he demonstrated a superior knowledge and competency in the area of reverse mortgages and a dedication to uphold the highest ethical and professional standards.
Only 81 individuals nationwide currently have the CRMP credential and Stevenson is one of only three people who are based in Florida.
“Being one of only a few people to have achieved this milestone is a testament to my commitment to reverse mortgages,” says Stevenson. “The process involved to receive this professional designation was long and arduous and adds to the level of expertise maintained by myself and the firm.”
To qualify for the designation, applicants must have originated reverse mortgages for 2 or more years and personally closed at least 50 loans; earned 12 continuing education credits; completed NRMLA’s Ethics Course; passed a rigorous exam; and a background check. The certification is valid for three years, during which time designees must earn 12 CE credits annually to be re-certified. Applicants who are not loan originators, but nonetheless work in areas vital to the business, such as counseling, processing, underwriting and servicing must have 5 or more years of experience.
“We congratulate Philip and admire him for striving to be a part of a group of industry professionals committed to demonstrating their eagerness for continued education and thorough knowledge of the reverse mortgage sector,” says Peter Bell, CEO of NRMLA. “He will be joined by hundreds more over time, but determination to get there first affirms that he wants to offer his clients every possible assurance of his own highest level of professionalism.”
Reverse mortgages are available to homeowners 62 years old and older with significant home equity. They are designed to enable retirees to borrow against the equity in their homes without having to make monthly payments as is required with a traditional "forward" mortgage or home equity loan. Under a reverse mortgage, funds are advanced to the borrower and interest accrues, but the outstanding balance is not due until the last borrower leaves the home, sells, or passes away. Borrowers may draw down funds as a lump sum at loan origination, establish a line of credit or request fixed monthly payments for as long as they continue to live in the home. To date, more than 850,000 senior households have utilized an FHA-insured reverse mortgage.
About Philip Stevenson
Phil Stevenson is 1 of 3 Certified Reverse Mortgage Professionals (CRMP) in Florida, and 1 of 81 in all of the United States. Stevenson combines his knowledge, education, and experience with his ingenuity and ethical practice to achieve the best possible outcomes for his clients and colleagues in every endeavor. Earning a reputation among his peers and clients as a detail-oriented, organized, efficient and highly disciplined leader, the experienced reverse mortgage advisor’s goal is consistent service to his clients. As a veteran of the wars in both Afghanistan and Iraq, family values, honesty, and integrity are of utmost importance to him.
About the National Reverse Mortgage Lenders Association:
The National Reverse Mortgage Lenders Association (NRMLA) is a membership organization comprised of over 300 companies and more than 1,900 people participating in the reverse mortgage industry. NRMLA serves as the national voice for the reverse mortgage industry. It serves as an educational resource, policy advocate and public affairs center for lenders and related professionals. NRMLA was established in 1997 to enhance the professionalism of the reverse mortgage business.