For immediate release
The Mortgage Institute for Financial Services Professionals, Inc. (MIFSP), the premier provider of mortgage training for financial services professionals is set to unveil its own Mortgage Opinion (MO) SM brand of financial planning services on October 17-19, 2003. MIFSP intends to create a resource for consumers who seek independent personalized mortgage advice through its training of financial services professionals to provide mortgage planning, comparative analyses of good faith estimate disclosures and even loan origination services.
Leon Morris, RFC, CLU, ChFC, RMP, the principal instructor and Executive Director of the Mortgage Institute for Financial Services Professionals (pronounced MY FSP) believes that there is a void in the financial services offered today. “There is no where for consumers to turn for credible independent personalized mortgage advice,” says Mr. Morris.
Mr. Morris was in the financial services profession for fifteen years before adding mortgage brokerage to his service offerings. “During the past five years, I have come to realize that even though most people finance and refinance homes many times during their lifetime, they never fully understand the mortgage loan process and simply trust that the lender or mortgage broker is providing the “right” loan for their particular situation. Rate is usually their only question,” says Mr. Morris.
In 2002, banks and mortgage companies processed nearly $2.5 trillion in mortgages. Concerned that consumers may be paying too much to obtain loans, many states have passed predatory-lending laws and new federal disclosure rules may soon be passed to make it easier for consumers to compare fees.
“Consumers should be able to find professional independent assistance, if desired, in deciphering the myriad of mortgage loan programs available and in quickly analyzing loan cost disclosure documents. MIFSP was created to help financial services professionals develop these type skills,” said Dr. Everett Abney, Educational Consultant for MIFSP.
MIFSP trains financial services professionals to provide consumers guidance in analyzing their mortgage-financing options and in making home buying and mortgage management decisions that are in line with their overall financial goals and expectations.
“Just as consumers seek the advice of financial services professionals when making retirement and other investment decisions, they should be able to go to these same financial services professionals when making decisions related to the single largest financial decision most people make, the purchase or refinance of their home,” says Dr. Abney.
“Mortgage decisions should not be made in a vacuum because these decisions significantly impact a consumer’s ability to implement other financial decisions. Home buying and mortgage decisions greatly impact all other financial decisions made by consumers, including their insurance needs, and funds available for other long-term and short-term financial goals and investments. Getting MIFSP’s brand of financial planning services from an independent financial services professional before obtaining a mortgage will become as wise and commonplace as having a home inspected before buying it,” says Mr. Morris.
