Description

This course discusses marketing issues in regards to the residential mortgage industry with an emphasis on the Reverse Mortgage. While marketing sounds simple, it is not. The ramifications of doing it improperly can be very damaging to mortgage companies. The potential risks to your clients can be severe, and therefore it is important for the attorney to have a rudimentary understanding of marketing regulations in regards to the residential mortgage industry. This course provides specific examples of both State and Federal statutes; an examination of actual marketing materials; and copies of settlements with State Banking regulators. This course will provide an overview of various marketing issues that the mortgage industry experiences and should give the attorney sufficient knowledge to understand these areas, and, if necessary, to seek additional assistance.

Michael J. Wallace, Esq.

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.