Reverse Mortgages in a Nutshell: Introduction to a HECM

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Price: $299
Total Credits: 24
Ethics & Specialty Credits: 4
  • Description
    This CLE course addresses reverse mortgages in its most dominant form, the Home Equity Reverse Mortgage (HECM). This seminar will offer an in-depth review of HECM’s and will compare its benefits to those of more standard forward mortgages.
  • Instructor Bio

    Michael Wallace

    Mr. Wallace’s career as an attorney specializing in mortgage banking/brokering and title insurance spans almost 25 years. He received his Juris Doctor from Syracuse University College of Law, and his Bachelor of Science from the State University of New York at Oswego.

    From 1985 through 2004 Mr. Wallace has owned and operated successful title insurance agencies and represented prominent mortgage brokers and bankers. Mr. Wallace experience includes closing thousands of mortgage loans. In 1992 he began representing Upstate Capital Inc., a New York State registered mortgage broker located in Upstate New York.

    In 2004 Mr. Wallace purchased Upstate Capital. He changed the company’s sales and marketing focus to reverse mortgages, and obtained FHA correspondent lender status and moved operations to East Syracuse, New York. Mr. Wallace expanded the company from a local presence to a multi-state broker. Mr. Wallace currently serves as the firm’s President.

    Mr. Wallace is a licensed mortgage broker/and or title agent in New York, New Jersey, Pennsylvania, Connecticut and Florida. He has taught continuing education classes on mobile home law for judges, as well as Business Law I & II at a local business college. He is a speaker on the reverse mortgage and title insurance industries.

    Mr. Wallace lives in a suburb of Syracuse with his wife, and two sons. His community activities include producing, directing, and acting in local theater, local political initiatives, serving on boards and committees for various non-profit organizations, and participating in local School District programs. His is a past Town of Dewitt Town Justice and currently serves on the town’s Sustainability Committee.