PS Financial Services, a reverse mortgage specialist based in Florida, announces its expansion into the states of California, Texas, Georgia, South Carolina and New York.
Miami, FL: PS Financial Services, a reverse mortgage specialist based in Florida, recently announced its expansion into the states of California, Texas, Georgia, South Carolina and New York. It's a move that makes the company one of the leading reverse mortgage specialists in the country.
PS Financial Services is already established as the no.1 reverse mortgage specialist in Florida, and closes more reverse mortgages than any other company in the state. Its steady expansion across the country looks set to be of interest to homeowners aged 62 or over, who want to increase their liquidity in order to more fully enjoy their retirement without the financial bind of regular monthly payments.
The reverse mortgage program is often viewed as a complex and impenetrable field, and various instances of negative publicity over the past few years means that public concern still persists. "Most people think they're going to lose the house, or that they can't leave anything to their heirs," said PS Financial Services founder Phil Stevenson. "In fact, a reverse mortgage is just like any other mortgage, but the interest payments are simply being deferred to a later date."
According to Stevenson, the industry has been undergoing many positive changes over the past few years. Although reverse mortgages are not a government benefit, Stevenson pointed out that they are FHA (Federal Housing Administration) insured and regulated. Wary consumers can take heart from the fact that the CFPB (Consumer Financial Protection Bureau) fined three big lenders for false advertising on reverse mortgages recently.
Stevenson is one of a very small number of Certified Reverse Mortgage Professionals (CRMP) in the whole of the United States. The low number is puzzling, given the rapidly growing reverse mortgage sector. "There are very few who have gone through the certification process, because it's not easy to accomplish," explained Stevenson. "It's expensive, time-consuming and requires a lot of travel in order take the necessary classes and exams."
Stevenson started his relationship with reverse mortgages in 2008, while researching the program on behalf of his grandparents. Since he was their heir, he investigated it from that angle, and upon discovering that it was a genuinely excellent program, he started selling reverse mortgages himself. Along with his long years of experience, this intimate knowledge of the products appears to give PS Financial Services a clear edge over the competition.
From its Florida headquarters, the company has now firmly established bases in California, Texas, Georgia and South Carolina, with New York the most recent state to join the PS Financial Services ranks.
About PS Financial Services PS Financial Services was founded in 2012 by Phil Stevenson, who is one of approximately 150 Certified Reverse Mortgage Professionals (CRMP) in the country. Stevenson is on the ethics committee of the national reverse mortgage association (NRMLA) and is part of a panel that is re-writing the national mortgage test with FINRA (Financial Industry Regulatory Authority) and NMLS (Nationwide Mortgage Licensing System), which appear to give his company reassuringly solid credentials in a notoriously complex field.
For more information on PS Financial Services, visit psreversemortgage.com or call 888-845-6630.