DELMATO IS FIRST IN CONNECTICUT TO ACHIEVE

CERTIFIED REVERSE MORTGAGE PROFESSIONAL ACCREDITATION

 

MIDDLETOWN, CT —Jerry Delmato, a reverse mortgage specialist at Liberty Bank, is one of only 28 people nationwide and the first individual in Connecticut to achieve the Certified Reverse Mortgage Professional (CRMP) accreditation. This new professional designation is awarded by the National Reverse Mortgage Lenders Association (NRMLA), a consumer advocacy group.

 

“Our first responsibility is to protect the consumer—and this new designation will provide seniors and their children with every assurance that they are dealing with educated, well prepared professionals,” said Peter Bell, president, NRMLA.

 

“Every year, more seniors are considering a reverse mortgage as a possible option,” says Delmato, “but they’re still often misunderstood. Accreditation is one way to distinguish myself as knowledgeable, experienced and trustworthy.”

 

Accreditation is granted based on industry experience, a continuing education requirement, including an ethics course, as well as passing an exam and background check.

 

A reverse mortgage loan enables individuals aged 62 or older to convert some of their home equity into cash. Unlike a traditional mortgage or equity loan, no repayment is required until the home is no longer the principal residence. Loan proceeds can be used for any purpose the borrower chooses, such as to supplement income, eliminate monthly payments, provide in-home care and for home repair/improvements.

 

According to the Department of Housing and Urban Development, more than 114,000 reverse mortgages were taken in fiscal year 2009.

 

Delmato has been in banking for over 30 years, and has specialized exclusively in reverse mortgages since 2004. He serves towns in eastern and shoreline Connecticut, and resides in Preston.

 

Established in 1825, Liberty Bank is Connecticut’s oldest mutual bank, with more than $3.2 billion in assets and 41 banking offices throughout the central, eastern, and shoreline areas of the state. As a full-service financial institution, Liberty offers consumer and commercial banking, home mortgages, insurance, and investment services. Rated outstanding by federal regulators on its community reinvestment efforts, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement.