Freddie Mac doubles financial incentives to servicers who help borrowers avoid foreclosure

CampusMBA launches Reverse Mortgage Central MortgagePress.comCampusMBA, Reverse Mortgage Central, reverse mortgage, HECM, online CampusMBA, the award-winning education division of the Mortgage Bankers Association (MBA), has launched Reverse Mortgage Central, a complete training solution for the entire real estate finance industry as demand for reverse mortgages continues to grow. The new three part live online series and classroom based course are designed to provide professionals with insight into candidate qualifications and how reverse mortgages can be leveraged responsibly as part of a senior's overall retirement plan. "As more baby boomers reach qualifying age we're seeing an array of public and private sector institutions develop products to assist them with life changes, especially when it comes to financial planning," said John Golden, MBA's senior vice president of education. "While we see increasing demand for reverse mortgages it's vitally important that industry professionals have a thorough understanding of the products in order to responsibly originate the loans while providing seniors with yet another option for their financial future." In response, CampusMBA has launched a live online series focusing on reverse mortgage products. Industry professionals can register now for courses that begin this month. Each course, outlined below, provides participants with the necessary tools to: Session #1: Thursday, July 24, 2008 Describe how borrowers qualify for a reverse mortgage Explain the key terms of a reverse mortgage Understand how loan calculations are determined Differentiate between disbursement options Understand and explain the loan repayment process Recognize when a reverse mortgage will benefit a borrower Session #2: Thursday, July 31, 2008 Differentiate between reverse mortgage products Understand the borrower requirements Understand the counseling requirements Understand the counseling process Understand common misconceptions about reverse mortgage Recognize how a reverse mortgage can impact government benefits Session #3: Thursday, August 7, 2008 Understand the loan origination process Understand key time lines for processing Explain the good faith estimate Understand compensation for a reverse mortgage Explain reverse mortgage specific forms and disclosures Recognize potential processing issues Identify frequently asked questions at closing In addition to hosting live online workshops, CampusMBA is hosting its first instructor-led, classroom based course, entitled "Understanding Reverse Mortgages" on August 12 in Washington, D.C. Alice Alvey, Master Certified Mortgage Banker (CMB), will serve as the lead course instructor. For more information, visit www.campusmba.org/reversemortgagecentral.htm.