CrossCountry Mortgage and the Society of Financial Service Professionals Announce a New Educational Partnership

BRECKSVILLE, Ohio, Dec. 15, 2020 /PRNewswire/ -- CrossCountry Mortgage, LLC (CCM), a nationwide mortgage lender headquartered in Brecksville, Ohio, is pleased to announce it is joining forces as a corporate partner with the Society of Financial Service Professionals (FSP). CCM's goal with this partnership is to educate FSP members about Home Equity Conversion Mortgages (HECMs)/reverse mortgages, help them understand the benefits of these types of loans, and show them how they can help their clients utilize housing wealth in retirement income planning.

CCM has a dedicated HECM team comprised of lending professionals with over 50 years of combined HECM/reverse mortgage experience. The HECM Division is headed up by Susan A. Pomfret, RICP®, who was one of the first to originate a HECM back in 1989 as part of the FHA Pilot Program.

"Flexible financial options are very important as seniors navigate retirement," Pomfret said. "Their lives change as they get older, and many will need to have a safety net for unexpected events and to minimize retirement risks."

She added, "Our industry has been plagued with misconceptions for too many years. Seeing the need for incorporating housing wealth early in retirement income planning was one of the reasons I decided to get my Retirement Income Certified Professional (RICP®) Designation from The American College of Financial Services."

In 2014, the Financial Industry Regulatory Authority (FINRA) updated their Investor Alert about reverse mortgages, noting that recent changes to the program added additional safeguards for borrowers. FINRA also stated it was issuing the alert to urge homeowners thinking about reverse mortgages to make informed decisions and carefully weigh all of their options before proceeding. Those who do decide a reverse mortgage is right for them are encouraged to make prudent use of their loan.

"Our mission is to empower our members to deliver the highest level of ethical service to their clients," said David M. Maola, JD, MBA, CEO of FSP. "We do this by promoting mutually beneficial, multidisciplinary relationships and providing high-level, top-quality educational opportunities in conjunction with industry experts and thought leaders. We recognize CCM's leadership in this area and their commitment to educating advisors about HECMs and the reverse mortgage industry."

"It was a natural fit to partner with the Society of FSP," said Ron Leonhardt, CEO and President of CCM. "This past February, we were honored to be a sponsor of their 2020 FSP Institute event, where we saw how they provide world-class resources at both the national and local levels to help members enrich their knowledge."

"As with any financial product, clients need to rely on experienced professionals to educate them about the risks and benefits to ensure they are making an informed decision," Pomfret said. "CCM's HECM team will be working with FSP to provide educational materials including webinars, articles, and other content for FSP members and non-members through FSP's e-commerce site, FSPgo.

"We are excited to partner with FSP and look forward to not only helping more retirees throughout the U.S., but also educating and bringing a tool to financial professionals that can help them mitigate losses in their clients' retirement portfolios," Pomfret said. "Our team's goal is 'empowering retirees to live a more financially stress-free retirement,' and this partnership will help us accomplish it."

About CrossCountry Mortgage:
CROSSCOUNTRY MORTGAGE, LLC is a nationwide mortgage lender founded in 2003 by CEO Ronald J. Leonhardt, Jr. The company has more than 5,000 employees and licenses in all 50 states. An approved seller and servicer by Freddie Mac, Fannie Mae and Ginnie Mae, CCM offers a broad portfolio of home purchase and refinance programs ranging from conventional and jumbo mortgages to government-insured programs for veterans and rural homebuyers. Additional options include down payment assistance, home equity products, and expedited closing programs. CrossCountry Mortgage is on the Inc. 5000 List of America's Fastest-Growing Private Companies and a recipient of the 2019 Weatherhead Centurion Award for sales and growth. For more information, please visit CrossCountryMortgage.com.

About Society of FSP (www.SocietyOfFSP.org):
The Society of Financial Service Professionals (FSP) is a distinctive association in financial services; membership is a multidisciplinary community of accomplished professionals—including CPAs, attorneys, insurance experts, and financial advisors from all disciplines—reflecting the collaborative nature of financial services today. FSP has a long history of providing high-caliber education in a variety of formats (webinars, live programming, audio programs) and authoritative publications, including the Journal of Financial Service Professionals, while offering a robust member benefit portfolio that evolves to maintain relevance. As the home of today's experts and those who aspire to be tomorrow's thought leaders, FSP remains true to its core values of education, relationships, and ethics, delivering access to the world-class resources that are critical to success for advisors and their clients.

SOURCE CrossCountry Mortgage, LLC