Why Seniors Should Choose NGFS
If you are considering learning about or implementing a Reverse Mortgage there are some things you should know:.
MOST REVERSE MORTGAGES ARE CONTROLLED BY THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD):
• All approved lenders must use the same HUD published rates
• All approved lenders are subject to HUD's rules on allowable charges and fees
• The vast majority of the Reverse Mortgages are FHA insured
Most HUD-approved sources for Reverse Mortgages have recruited and trained traditional mortgage loan officers to serve the needs of their senior clients. The expertise of these representatives is almost exclusively limited to traditional mortgage products. Reverse Mortgages are unlike traditional mortgages in numerous ways, which is why even though loan officers may be experts in mortgage lending, they often do not receive the specialized training needed to properly handle the Reverse Mortgage.
Client training aids the lender in helping to determine whether a Reverse Mortgage is appropriate or not for the senior and his/her objectives. A Reverse Mortgage is almost never implemented without it being apart of a larger plan or objective. The objective may be to improve the senior's cash flow, or to address their Long Term Care concerns. A loan officer that is limited in their financial counseling expertise may not be capable of advising seniors on their options and assisting them in developing the best way of meeting their larger objectives.
SO WHAT MAKES NEXT GENERATION FINANCIAL SERVICES (NGFS) DIFFERENT FROM THE OTHER HUD APPROVED SOURCES FOR A REVERSE MORTGAGE?
- Unlike many other HUD-approved sources for Reverse Mortgages, all Next Generation Financial Services (NGFS) loan officers have years of experience in the financial services field, and are familiar in the fields of Long Term Care, Wealth Preservation and Estate Planning.
- Additionally, as part of his/her training in becoming a NGFS loan officer, each has further been trained in the field of Cash Flow Planning, which enables them to assist you in improving and maximizing the benefits of your cash flow.
In fact, NGFS only recruits people who have proven expertise and years of experience in the financial services fields. Those applicants who meet the minimum requirements are then brought into an intense training program to learn about the Reverse Mortgage and, as with all bank loan officers, are required to meet all compliance requirements. NGFS and 1st Mariner Bank stand behind their loan officers. All administration, processing, and underwriting of NGFS Reverse Mortgages is performed by Bank staff to further ensure that NGFS clients are always being served by specialists in all aspects of their relationship with NGFS.
In summary, with NGFS your needs and objectives are placed above all else. Our loan officers are charged with the responsibility of aiding you in finding the best solution for your particular situation, even if it does not result in your using a Reverse Mortgage. So unlike many other HUD-approved sources, our loan officers are not focused on just the Reverse Mortgage product itself, but instead are focused on you and your objectives.
NGFS Code of Conduct
As a representative of Next Generation Financial Services (NGFS), I recognize that in serving my clients needs and/or helping them to achieve their objectives, I may have to draw on more than just one of my areas of expertise. However, my commitment to NGFS and to all of my clients is that I will always abide by this Code of Conduct.
1. I will make sure when I am discussing various types of mortgage options and strategies with my clients that I do so as a representative of NGFS/1st Mariner Bank.
2. I will make sure that when I discuss any other type of financial product or strategy, that I do so under my other licenses and that NGFS/1st Mariner Bank is not an interested party or is not in anyway related to them.
3. I will make sure that all that I assist know that the NASD prohibits using proceeds obtained from arranging the financing on their home from being used for the purchase of a Security.
4. I will always put the needs and desires of those I assist first and above all other personal considerations.
5. When suggesting a strategy or product I will always give the same consideration for the well being of my clients that I would give to one of my own family members.
6. I will always make sure that I fully disclose all costs and/or loads and expenses associated with any mortgage or other product I present, whether as a representative of NGFS/1st Mariner Bank or in any other capacity that I may be called upon to include in aiding my clients to achieve their objectives.
7. If ever requested, I will provide the name and phone number of my immediate supervisor at NGFS/1st Mariner Bank to all that desire it, without questioning why they want the information.
8. I will abide by all regulatory requirements associated with any of the strategies, products or programs that I present.
As a professional who is concerned with the well being of my clients, I gladly commit to adhere to this Code of Conduct.
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Free Reverse Mortgage Quote and Analysis
Next Generation Financial Services will provide you with a no-cost, no-obligation, Free Reverse Mortgage quote. We will only need basic information about you and your property and will be able to offer an instant estimate and analysis regarding a Reverse Mortgage.
