What is a Reverse Mortgage Specialist?

What is a Reverse Mortgage Specialist?

Reverse Mortgage Specialist

What does it take to consider yourself a specialist in reverse mortgages? This answer is subjective: there is no definitive answer to this question. Anyone with an MLO license (even if they have never done a reverse mortgage before) can call themselves a reverse mortgage specialist. The client and their support team (friends, professional advisors, neighbors, and loved ones) must do their due diligence and investigate the experience of the reverse mortgage professional and their company to determine who they want to guide them through this colossal decision.

Here are some questions to ask your reverse mortgage professional to determine their experience level:

  • How many reverse mortgages have you done in the last 6 months?
  • What year did you close your first reverse mortgage?
  • Are you a broker or a lender?
  • Does your company only do reverse mortgages or do they do various loan types?
  • What is your timeline and process like?
  • Do you have any resources available to learn more about reverse mortgages?

These questions will give you a good starting point to better gauge your options when looking for a true reverse mortgage professional to guide you through the many options available.

As Oregon’s leading reverse mortgage brokerage (also licensed in Washington, Idaho, and California) we have the experience to lean on when considering your individual circumstances and goals and we have the team to support our developing loan officers through the trials and tribulations of the process with minimal hurdles, due to our vast experience in this industry.

Give us a call or fill out the contact form on this page to discuss your retirement plans and let us guide you through our various loan options- all with no monthly mortgage payments!

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Licensing

© 2019 Northwest Reverse Mortgage, LLC NMLS #1834787
Idaho Branch #2123574

Licensed in Oregon, Washington, California and Idaho

Number:
Office: (800) 806-1472
Toll Free: (800) 806-1472
Fax: (541) 253-4370

Washington Local Contact:
(253) 237-1996

California Local Contact:
(650) 844-6655

Central/Southern Oregon Contact:
(541)226-3757

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Contact Us

Northwest Reverse Mortgage
10121 SE Sunnyside Rd
Ste 300
Clackamas, OR 97015
Phone: (503) 427-1667

Idaho Branch
950 W Bannock St
Suite 1100
Boise, ID 83702
Phone: (208) 635-0806

California Branch
17901 Von Karman Avenue
Ste 600
Irvine, CA 92614
Phone: (650) 844-6655

Hours:
MON-FRI 8AM - 5PM

Mortgage Brokers

Gresham Area
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Northwest Reverse Mortgage, LLC. ML- 5797/ CL-1834787/ DFPI# 60DBO-140333. Equal Opportunity Mortgage Broker licensed in Oregon, Washington, Idaho and California. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Credit on approval. Terms subject to change without notice. Not a commitment to lend. Contents not provided by, or approved by FHA, HUD or any other government agency. All potential tax benefits should be verified with a professional licensed tax advisor. NMLS Consumer Access

At the conclusion of a reverse mortgage, the borrower must repay the loan and may have to sell the home or repay the loan from other proceeds; charges will be assessed with the loan, including an origination fee, closing costs, mortgage insurance premiums and servicing fees; the loan balance grows over time and interest is charged on the outstanding balance; the borrower remains responsible for property taxes, hazard insurance and home maintenance, and failure to pay these amounts may result in the loss of the home; interest on a reverse mortgage is not tax deductible until the borrower makes partial or full re-payment.