Quick Answer
The most important questions to ask a reverse mortgage advisor are: Do you hold the CRMP designation? Do you offer both HECM and proprietary programs? Will you show me a scenario where a reverse mortgage is NOT the right choice? Will you encourage me to get a second quote? And can family members join the consultation?
- Ask whether the advisor holds the CRMP designation — the highest credential in the industry.
- Ask whether they offer both HECM and proprietary programs — HECM-only advisors cannot serve all California needs.
- Ask to see a scenario where a reverse mortgage does NOT make sense — honest advisors have this answer ready.
- Ask whether they encourage a second quote — advisors who discourage comparison are not acting in your interest.
- Ask whether family members can join the consultation — the best advisors welcome it.
- Ask for their NMLS number and verify it at nmlsconsumeraccess.org before the call.
Key Facts
| Topic | Key Fact |
|---|---|
| CRMP verification | nrmlaonline.org — NRMLA's CRMP directory |
| NMLS verification | nmlsconsumeraccess.org — all licensed originators |
| California DRE verification | dre.ca.gov — license lookup |
| Second quote encouragement | Every legitimate advisor encourages comparison — it is a trust signal |
| Family consultation welcome | Best advisors proactively offer this — not just permit it |
| Scenario where NOT right | Every legitimate advisor has this answer — if they do not, be cautious |
| Proprietary product access | Essential in California — ask specifically about HomeSafe and HomeSafe Second |
| Fee transparency | Request a written Loan Estimate before committing to any program |
Detailed Explanation
Choosing a reverse mortgage advisor is one of the most important decisions in the reverse mortgage process — because the quality of the guidance directly affects the quality of the outcome. The questions below are designed to separate advisors who are educating you from advisors who are selling you. An advisor who welcomes every one of these questions is an advisor worth continuing to work with.
The CRMP designation question is the fastest filter available. Fewer than 2% of reverse mortgage originators nationally hold the CRMP — it requires passing a comprehensive certification exam, 3+ years of reverse mortgage-specific experience, an active NMLS license in good standing, and ongoing continuing education. An advisor who holds the CRMP has demonstrated specialized knowledge and commitment that a state license alone does not guarantee.
The 'scenario where it does not make sense' question is the most revealing. A legitimate advisor who has worked in this field for any meaningful period has told clients not to proceed. They have recommended selling instead of a reverse mortgage, they have identified situations where the closing costs do not justify the benefit, they have seen cases where the spouse's age made the NBS structure impractical. If an advisor cannot describe a situation where they would recommend against a reverse mortgage, they are not putting clients first.
The second quote question tests the advisor's confidence in their own fee structure and program access. An advisor who discourages comparison is protecting their margin, not your interest. An advisor who says 'get another quote — and I will show you why mine is better' is confident and transparent. In the proprietary reverse mortgage market especially, where there is no federal fee cap, comparing quotes is the only consumer protection available.
Jay Zayer, CRMP — 18 Years Experience
The question I respect most from clients — and the one that tells me most about how prepared they are — is the 'when would you tell me NOT to do this?' question. My answer is always specific: I would tell you not to do it if you plan to sell within 18 months (the closing costs do not justify the short tenure), if your primary need is estate preservation and the numbers do not support it, or if you have a terminal diagnosis that limits the planning horizon. Having specific answers to this question is the mark of an advisor who has actually put clients' interests first at some point. It is easy to say — and impossible to fake if you have never done it.
Who This Is Right For
This may be a good fit if:
- Every prospective reverse mortgage borrower — asking these questions before committing to an advisor takes 10 minutes and can save significant money and avoid poor outcomes
This may NOT be the right fit if:
- There is no situation where asking these questions would be inappropriate — they are standard consumer protection due diligence
Common Misconception
Myth: All reverse mortgage advisors are the same — you just compare rates.
Fact: The quality of reverse mortgage advice varies enormously. The advisor's credentials, product access, California-specific knowledge, fee structure, and willingness to tell you 'no' when appropriate are all factors that meaningfully affect the outcome.
Source: NRMLA: CRMP credential standards — nrmlaonline.org
Authoritative Sources
- NRMLA: CRMP credential directory — nrmlaonline.org
- NMLS Consumer Access — nmlsconsumeraccess.org
- CFPB: Choosing a reverse mortgage counselor — consumerfinance.gov
People Also Ask
How do I verify a reverse mortgage advisor's credentials?
Search their name or NMLS number at nmlsconsumeraccess.org. Verify their California DRE license at dre.ca.gov. If they claim the CRMP designation, verify it through NRMLA at nrmlaonline.org.
Is it rude to ask a reverse mortgage advisor for a second quote?
No — it is smart. Any advisor who discourages a second quote is not acting in your interest. Legitimate advisors welcome comparison because they are confident their fee structure and product access will hold up.
What is the single most important credential for a reverse mortgage advisor?
The CRMP (Certified Reverse Mortgage Professional) designation — held by fewer than 2% of reverse mortgage originators nationally. It requires a comprehensive exam, 3+ years of reverse mortgage-specific experience, and ongoing education.