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CMPS Institute comments on FDIC and Treasury’s troubled mortgage guarantee program

National Mortgage Professional
Oct 30, 2008

Financial Freedom forms partnership with Seniors Real Estate Specialists Council to provide reverse mortgage educationMortgagePress.comFinancial Freedom, SRES, HECM, HUD, Seniors Real Estate Specialists Council, HECM for Home Purchase Financial Freedom, one of the nation's largest lenders and servicers of reverse mortgages, announced a partnership with Seniors Real Estate Specialists (SRES) Council to provide educational content and instruction to SRES member REALTORS regarding the Department of Housing and Urban Development's Home Equity Conversion Mortgage (HECM) program for reverse mortgages. This month SRES members have begun accessing regularly scheduled, comprehensive webinars and local area seminars about reverse mortgages. Additional seminars will be provided once the new HECM for Home Purchase program is implemented early next year. HECM for Home Purchase will allow seniors to purchase a new home with a reverse mortgage and eliminate any required monthly mortgage payments. This may benefit seniors who may not easily qualify for a traditional mortgage or who may qualify but do not want the monthly mortgage payment. Once the new provisions for the HECM program are implemented, Financial Freedom and SRES will jointly create helpful tools and guidance to assist SRES members with evaluating a range of options regarding seniors' homes during retirement. "We are very excited to form a partnership with Financial Freedom who has led the development of the reverse mortgage industry for the last 10 years," said Carol Kairis, managing director, SRES spokesperson. "With their expertise and history of first rate training, we are confident that our qualified SRES members will absorb the in-depth knowledge necessary to meet the specific needs of senior homebuyers." "Financial Freedom is delighted to have an opportunity to work with Seniors Real Estate Specialists Council and assist them in their mission to help SRES members with home buyers making informed decisions regarding for what many Americans is their single largest asset, their home," said Michelle Minier, CEO of Financial Freedom. "Reverse mortgages have proven to be a valuable tool, and the new provisions of the Housing and Recovery Act will expand seniors' ability to obtain a reverse mortgage with increased benefits and lower costs." For more information, visit or
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