NMP - December 2016 - 52


NMP Mortgage Profession
Ralph Rosynek
Senior Vice President of the U.S. Division
and Chief Information Officer

Moneyhouse Inc.
BY PHIL HALL

alph Rosynek is senior vice president of the U.S.
division and chief information officer for
Moneyhouse Inc. He is also considered to be
one of the most prominent figures in the reverse
mortgage industry. National Mortgage Professional
Magazine spoke with him regarding his career and his
view on the evolving state of the reverse mortgage market.

R

How did you get into the
mortgage profession? Was this
your original career choice?
I started in mortgage banking in
the mid-1980s. In early 2002, I
switched from traditional
mortgage banking to exclusively
reverse mortgage banking. My
family background is in banking,
as my dad was in consumer
banking for more than 50 years.
How did you get involved with
Moneyhouse?
I had a forced retirement from
Reverse Mortgage Solutions Inc.
when Walter Investment
Management Corp. acquired the
company and brought in a new
management team. I then went
into consulting work in the
reverse mortgage field.
Moneyhouse is headquartered
in Puerto Rico. It is a wellestablished, 20-year-old,
privately-owned mortgage
banking business, and David
Levis is the principal. I had known
David and learned that he was
interested in expanding his
company stateside. We talked,
put together a plan, and I decided

to go back into employment. It
has been a great opportunity.
Moneyhouse is in the forward
and reverse mortgage business
and operates as a direct lender in
addition to being a Ginnie Mae
issuer for both loan product types
and offers retail, wholesale and
correspondent opportunities for
consumers and business partners.
Unique to Puerto Rico is the fact
that all transactions are done in
Spanish. Many aspects of the
Puerto Rican business side have
been able to assist our U.S.
expansion and create an
important niche for us-we have a
fully bilingual staff with Spanish
documentation options and
support. There is a large
percentage of Hispanic potential
borrowers and homeowners in the
U.S. that are underserved, largely
because of language. We can
work with Hispanic borrowers and
help make mortgage transactions
much more comfortable for them
in addressing their needs.
Where is the reverse mortgage
market today?
Less than two percent of eligible

borrowers for this product have
accessed a reverse mortgage-
availability and product
knowledge/education are key
issues. Due to industry efforts,
reverse mortgages are moving
from a niche to a more formal
product in the market. It is an
untapped opportunity for
mortgage lenders, but reverse
mortgages are not a new
product. Reverse mortgages
have been around since the late
1980s, however, there has been
more interest in the product
over the last three years, thanks
in large part to an influx of Baby
Boomers looking at a reverse
mortgage as retirement planning
component.
How do you respond to
negative media coverage of
reverse mortgages?
Unlike a forward mortgage, a
reverse mortgage borrower
needs to be educated, rather
than being sold on the product.
Product access is limited in
many areas of the country and
many homeowners and their
trusted advisors do not have the

product knowledge or assistance
available to right fit their needs
for a reverse mortgage without
the assistance of an experienced
lender and origination staff.
Some media negativity insists
that the product needs to be very
carefully regulated. Like any
mortgage product, product
knowledge, protections and
suitability to needs must be
researched and understood by
potential borrowers and many
times, their trusted advisors, in
order to make an informed
choice. Education, resources and
product assistance decision
components are becoming much
more readily available. The
reverse mortgage is not always
the right choice or decision for
some borrowers.
In the past to a larger degree,
there were various
misconceptions surrounding the
reverse mortgage product that
have and continue to be
dispelled by reverse mortgage
providers through education,
media coverage and growing
product embrace by financial
services providers.



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

Contents
NMP - December 2016 - Cover1
NMP - December 2016 - Cover2
NMP - December 2016 - 1
NMP - December 2016 - Contents
NMP - December 2016 - 3
NMP - December 2016 - 4
NMP - December 2016 - 5
NMP - December 2016 - 6
NMP - December 2016 - 7
NMP - December 2016 - 8
NMP - December 2016 - 9
NMP - December 2016 - 10
NMP - December 2016 - 11
NMP - December 2016 - 12
NMP - December 2016 - 13
NMP - December 2016 - 14
NMP - December 2016 - 15
NMP - December 2016 - 16
NMP - December 2016 - 17
NMP - December 2016 - 18
NMP - December 2016 - 19
NMP - December 2016 - 20
NMP - December 2016 - 21
NMP - December 2016 - 22
NMP - December 2016 - 23
NMP - December 2016 - 24
NMP - December 2016 - 25
NMP - December 2016 - 26
NMP - December 2016 - 27
NMP - December 2016 - 28
NMP - December 2016 - 29
NMP - December 2016 - 30
NMP - December 2016 - 31
NMP - December 2016 - 32
NMP - December 2016 - 33
NMP - December 2016 - 34
NMP - December 2016 - 35
NMP - December 2016 - 36
NMP - December 2016 - 37
NMP - December 2016 - 38
NMP - December 2016 - 39
NMP - December 2016 - 40
NMP - December 2016 - 41
NMP - December 2016 - 42
NMP - December 2016 - 43
NMP - December 2016 - 44
NMP - December 2016 - 45
NMP - December 2016 - 46
NMP - December 2016 - 47
NMP - December 2016 - 48
NMP - December 2016 - 49
NMP - December 2016 - 50
NMP - December 2016 - 51
NMP - December 2016 - 52
NMP - December 2016 - 53
NMP - December 2016 - 54
NMP - December 2016 - 55
NMP - December 2016 - 56
NMP - December 2016 - 57
NMP - December 2016 - 58
NMP - December 2016 - 59
NMP - December 2016 - 60
NMP - December 2016 - 61
NMP - December 2016 - 62
NMP - December 2016 - 63
NMP - December 2016 - 64
NMP - December 2016 - 65
NMP - December 2016 - 66
NMP - December 2016 - 67
NMP - December 2016 - 68
NMP - December 2016 - 69
NMP - December 2016 - 70
NMP - December 2016 - 71
NMP - December 2016 - 72
NMP - December 2016 - 73
NMP - December 2016 - 74
NMP - December 2016 - 75
NMP - December 2016 - 76
NMP - December 2016 - 77
NMP - December 2016 - 78
NMP - December 2016 - 79
NMP - December 2016 - 80
NMP - December 2016 - 81
NMP - December 2016 - 82
NMP - December 2016 - 83
NMP - December 2016 - 84
NMP - December 2016 - 85
NMP - December 2016 - 86
NMP - December 2016 - 87
NMP - December 2016 - 88
NMP - December 2016 - 89
NMP - December 2016 - 90
NMP - December 2016 - 91
NMP - December 2016 - 92
NMP - December 2016 - 93
NMP - December 2016 - 94
NMP - December 2016 - 95
NMP - December 2016 - 96
NMP - December 2016 - 97
NMP - December 2016 - 98
NMP - December 2016 - 99
NMP - December 2016 - 100
NMP - December 2016 - 101
NMP - December 2016 - 102
NMP - December 2016 - 103
NMP - December 2016 - 104
NMP - December 2016 - 105
NMP - December 2016 - 106
NMP - December 2016 - 107
NMP - December 2016 - 108
NMP - December 2016 - 109
NMP - December 2016 - 110
NMP - December 2016 - 111
NMP - December 2016 - 112
NMP - December 2016 - Cover3
NMP - December 2016 - Cover4
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201912
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201911
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201910
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201909
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201908
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201907
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201906
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201905
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201904
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201903
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201902
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201901
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201812
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201811
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201810
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201809
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201808
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201807
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201806
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201805
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201804
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201803
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201802
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201801
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201712
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201711
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201710
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201709
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201708
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201707
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201706
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201705
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201704
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201703
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201702
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201701
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201612
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201611
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201610
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201609
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201608
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201607
http://www.nxtbook.com/nxtbooks/nmpmedia/nmp_201604
http://www.nxtbookMEDIA.com