Honolulu, HI—Wendy Oshiro, a reverse mortgage specialist with Open Mortgage LLC, joined an elite cadre of mortgage professionals, and only the second from Hawaii, who have achieved the status of being a Certified Reverse Mortgage Professional (CRMP). Oshiro earned the designation after she passed a rigorous exam and background check, thereby demonstrating a competency in the area of reverse mortgages and a dedication to uphold the highest ethical and professional standards.

Only 150 individuals nationwide currently have the CRMP designation.

“Being one of 150 people nationwide to have achieved this milestone is a testament to my commitment to reverse mortgages,” says Oshiro. “The process involved to receive this professional designation was long and arduous and adds to the level of expertise maintained by myself and my company.”

To qualify for the designation, applicants must have originated reverse mortgages for a minimum of three years or personally closed at least 50 loans; earned 12 continuing education credits; completed NRMLA’s Ethics Course; passed a comprehensive exam; and a background check. The certification is valid for three years, during which time designees must earn 8 CE credits annually to be re-certified. Applicants who are not loan originators, but nonetheless work in areas vital to the business, such as training, counseling, processing, underwriting and servicing, must have three or more years of experience.

“Wendy is one of 150 individuals with the Certified Reverse Mortgage Professional designation. As a CRMP, she has demonstrated knowledge and competency in the area of reverse mortgage lending and is dedicated to upholding high standards of ethical and professional practice in the industry,” said Peter Bell, President and CEO of the National Reverse Mortgage Lenders Association.

Reverse mortgages are available to homeowners 62 years old and older with significant home equity. They are designed to enable older Americans to borrow against the equity in their homes to help fund retirement needs, without having to make monthly payments as is required with a traditional “forward” mortgage or home equity loan. Under a reverse mortgage, funds are advanced to the borrower and interest accrues, but the outstanding balance is not due until the last borrower leaves the home, sells, or passes away. Borrowers may draw down funds as a lump sum at loan origination, establish a line of credit or request fixed monthly payments for as long as they continue to live in the home. To date, more than 1.1 million senior households have utilized an FHA-insured reverse mortgage.

About Wendy Oshiro
Wendy was a mathematics teacher for 16 years, when both of her parents suddenly lost their independence and she left the classroom to better attend to their needs.

“It proved to be a difficult and stressful time for my entire family,” said Oshiro. “Within a short period of time, we had to learn about long-term care options, the cost of care, financing options, LTC insurance, Medicare and Medicaid. We experienced first-hand the emotional impact the loss of a loved one’s independence can have on their quality of life as well as our own lives.”

That experience with her parents led her to begin originating reverse mortgages in 2007. “As a reverse mortgage specialist and educator, I help my clients make well-informed decisions. I teach them about how reverse mortgages work, the benefits, features and cost of this unique product so they can decide what’s right for them,” added Oshiro.

About the National Reverse Mortgage Lenders Association:

The National Reverse Mortgage Lenders Association (NRMLA) is a membership organization comprised of over 300 companies and more than 2,000 people participating in the reverse mortgage industry. NRMLA serves as an educational resource, policy advocate and public affairs center for lenders and related professionals. NRMLA was established in 1997 to enhance the professionalism of the reverse mortgage business.

For information contact:

Darryl Hicks, Vice President, Communications

202-939-1784; dhicks@dworbell.com