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Comptroller of the Currency unveils new report on mortgage performance

National Mortgage Professional
Jun 10, 2008

Financial Freedom enhances consumer education with launch of Reverse Mortgage Borrower Advocacy ProgramMortgagePress.comFinancial Freedom, IndyMac Bank, reverse mortgages, HECM, Reverse Mortgage Borrower Advocacy Program Financial Freedom, a subsidiary of IndyMac Bank FSB, has announced the launch of the Reverse Mortgage Borrower Advocacy Program, a new educational initiative designed to help consumers make the most informed reverse mortgage decision possible. "We recognize that reverse mortgages can be complicated products and as the industry has rapidly grown, seniors are confronted with many more product, pricing and withdrawal options than ever," said Michelle Minier, CEO of Financial Freedom. "Our goal has always been to educate seniors so they can properly evaluate reverse mortgages and now the Reverse Mortgage Borrower Advocacy Program will provide a more comprehensive effort to educate seniors on the increasingly complex decision making process of choosing solutions to fund a secure retirement." The program, which will include a wide range of educational tools and materials, kicks off with two new videos, "Is a Reverse Mortgage Right for You?" and "Uses for a Reverse Mortgage." The videos can be viewed directly by clicking here. The videos go beyond explaining the fundamentals of reverse mortgages to explore a range of topics seniors should consider when evaluating their retirement funding options, including: • Situations where a reverse mortgage may not be the best solution; � Alternative options to a reverse mortgage; • Tips on how to identify trusted advisors to help seniors make their decision; • New case examples that illustrate the range of issues to consider when evaluating reverse mortgages; and • Products, such as annuities and other sophisticated financial tools that may not be in the seniors best interest. In addition to the videos, the Reverse Mortgage Borrower Advocacy Program will offer a broad range of content and tools for consumers in the coming months. This will include: • Enhanced Web Tools: Consumers will have new tools to better evaluate reverse mortgage products, withdrawal options, and financial planning choices for retirement. • Educational Content: Financial Freedom will introduce a series of new consumer handbooks on reverse mortgages that cover all aspects of evaluating reverse mortgages, along with all possible fees associated, how to conserve proceeds and how to further safeguard against predatory lending and pressure sales practices. For more information, visit
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