NMP - October 2016 - 77

the FHA Reverse Mortgage-also known as a Home Equity Conversion Mortgage (HECM)-has been well researched by Boston College and other institutions and have overwhelmingly proved that the old idea of the reverse mortgage as a loan of last resort is simply wrong. The new research clearly shows that most seniors will have a much better retirement if they get a reverse mortgage at 62- not 82. According to the published research, they are likely to gain three things in doing so-more cash flow, generally lower income tax cost and actually a larger net worth and more of a legacy to pass to the next generation." As the industry evolves and adapts, there are two more challenges we must address: The need to attract younger people into our profession (given that the average age of the mortgage professional is 58), and the need for women to attain higher levels of leadership in the industry. As we embrace the world of digital marketing we can leverage it to show Millennials the opportunities available in our profession from flexible work hours to unlimited earning potential. It is essential to the future of the mortgage industry for us to recruit, educate and train younger employees. In this way, we can ensure the continued health and well-being of an industry in which one can have an excellent and fulfilling career serving those in need of home financing. The other challenge we face is increasing the number of women in positions of influence. Growing up in this industry, from working in operations, to becoming my company's number one producing originator, to now managing three branches, I have seen the impact women can have in this field. I've never felt limited by my gender, but instead, have been encouraged to consistently set and achieve my highest goals. The opportunities that were presented to me along the way helped to shape a career that has been incredibly fulfilling. It is my aspiration to do the same for those within the industry who wish to attain positions in leadership. Sarah Middelton, a former topproducing loan originator who has taken on the executive role of expansion, development and marketing for Fairway reflects that, "as a female in the mortgage industry, there is no limitation or ceiling to success. This business provides tremendous opportunity for any person that dreams big and works hard towards their goals. From a leadership perspective while men absolutely bring incredible strengths to the table, women have just as much to offer as managers and leaders." Based on my experience, I encourage other women to jump into this industry and set their sights on the top. There will always be new guidelines, new products and new regulations. After 30 years, I am still eager to see how we adapt new technologies, address the needs of different demographics, and attract more women to leadership roles. The industry will always change-that is the only given, I look forward to seeing where the next 30 years takes us-after all, I may still be working. Amy Slotnick joined Fairway Independent Mortgage Corporation in 2007 as a loan originator. In 2014, she became the company's Newton, Mass. branch manager and has since grown the branch threefold. Slotnick has been consistently recognized as a top producer, as well as one of the first recipient of Fairway's Darryl E. Jacobson Courage in Business Award. 77 the local markets and pride themselves on friendly, responsive service. Plus, our team has an in-d depth understanding of home loan options, including specialty loans like Jumbo o, loans to LLCs and Trusts (approved by Ridgewood Savings Bank) and non-warranttable condos. BENEFIT FROM: * No FICO score e (unless PMI loan) * Cash-outs* up to $2.0M (no seasoning) * One appraisal (no matter the * Loan amounts up to $3.5M with loan amount) Bijan j Farassat (917) 731-4870 bfarassat@ridgewoodbank.com NMLS ID#646654 Lisa Constant (516) 640-8375 lconstant@ridgewoodbank.com NMLS ID#646655 *On primary residences and second homes (LTVs apply).              Terms and conditions subject to change without notice. Loans subject to credit approval. CLTVs to 90%** n National Mortgage Professional Magazine n OCTOBER 2016 With over 30 yea ars of professional experience each, our Account Executives know NationalMortgageProfessional.com Locaal Expertise. World-Class Service. http://www.NationalMortgageProfessional.com

Table of Contents for the Digital Edition of NMP - October 2016

Table of Contents
NMP - October 2016 - Cover1
NMP - October 2016 - Cover2
NMP - October 2016 - 1
NMP - October 2016 - Table of Contents
NMP - October 2016 - 3
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NMP - October 2016 - Cover3
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