About Academy Mortgage Reverse

 

At Academy Mortgage Reverse, we dedicate 100% of our efforts to Reverse Mortgages. By focusing solely on the Reverse Mortgage loan, we are able to design each loan to meet the specific needs of our clients as well as their family. With the many changes that have been made by FHA and HUD over the past 5 years, we have seen this product become more flexible, less costly and much safer than ever before. 
 
We have found that an ever growing segment of our business is coming from other professionals who are looking for options to help clients in retirement. Attorneys, CPAs and Financial Planners are starting to realize the power of this as a retirement and estate planning tool. By being dedicated and local, we can meet with clients, their families as well as other trusted advisors to evaluate and structure each loan individually.

Our Team

Erik Patten - Boulder, CO Branch Manager | NMLS #507517 | Colorado | erik.patten@academymortgage.com

I am a Reverse Mortgage Specialist here in Colorado and I focus on helping Seniors get more from their retirement. Choosing the right mortgage product that suits your needs best is very important to living a fulfilling and stress-free retirement.

I have been in the Mortgage business since 2002. Having first started with National City Mortgage in California, I have extensive knowledge of the mortgage banking industry. I have been a CFO for several start-up companies, producing Branch Manager/Account Executive at several Credit Unions as well.  With this experience I bring a full spectrum of knowledge from corporate finance and of our industry from the inside out.

I am also fluent in Spanish having lived in Puerto Vallarta, Mexico while attending school there. I am fluent in both written and verbal.

Interested in buy a Home Without Monthly Mortgage Payments. 

If you are 62 years or older, the Home Equity Conversion Mortgage (HECM) for Purchase Loan can help you buy your next home without required monthly mortgage payments. (Borrowers must maintain the property and remain current on property taxes, homeowner’s insurance and applicable HOA dues.)

The HECM for Purchase is a Federal Housing Administration (FHA) insured home loan that allows seniors to use the equity from the sale of a previous residence to buy their next primary home in one transaction.  Sometimes doing a HECM for purchase is not only gratifying but it allows Seniors to lift the burden of qualifying for a normal forward mortgage and keeps more funds at your disposal for enjoying the best of what life has to offer.

As well, doing a Reverse Mortgage as a refinance loan, will not only allow you to enjoy your retirement without required monthly mortgage payments, but it could also allow you access to a Line of Credit, if anything should arise into the future unexpectedly.  The Line of Credit also has a growth rate feature, so whether you need any additional funds now or into the future, it will be there when you need it most.  The LOC is only available when the current Principal Limit is greater than the unpaid principal balance and the loan is not in default.  Depending on what you currently owe on your mortgage versus the current appraised value of your home this Line of Credit available balance will be determined before closing.  (Borrowers must maintain the property and remain current on property taxes, homeowner’s insurance and applicable HOA dues.) 

I would be honored to answer any questions you may have.

Please contact me at erik.patten@academymortgage.com or 310-402-8485.
1434 Spruce Street,  Suite 100 Office 101 Boulder, CO 80302

State Lic: CO #100508454 | 310-402-8485

Mike Russell - Reverse Mortgage Specialist | NMLS# 57807 | Oregon | mike.russell@academymortgage.com

I have been in the Reverse Mortgage Industry for the past 15 years and am always amazed how this product can benefit my clients.  I graduated from Oregon State University in 1978 and went into Banking and spent many years as a Branch Manager and Lender. Having a family and many children, it has always been a priority to not only help my own family but to help the families that I work with and especially to bring comfort and financial security to those over 62 that can benefit from the Reverse Mortgage. 

I have many interests which include writing, photography, and woodwork.  I have published three books to date and look forward to where this area of my passion will take me. 

Corp State Lic WA #CL-3113, OR #ML-2421

State Lic: OR # 57807; WA # MLO-57807 | 503-680-0594

Stan Francom - Sales Manager, Reverse | NMLS #99049 | Utah | stan.francom@academymortgage.com

As a Senior Loan Officer, Stan has responsibility for attracting, engaging and educating many of the top Loan Officers, Realtors, Investment Advisors, and Financial Planners across the many states in which he’s licensed. But most importantly his responsibility is to the hundreds of clients who have completed the HECM process and to those who are seeking information about FHA’s Home Equity Conversion Mortgage (HECM’s).

 

He brings over 30 years experience of ‘hands-on’, everyday, working directly with the consumer with his unique consultative style of educating, teaching, and problem-solving skill sets.  His philosophy is simple; “provide them correct  information and let the client make their own decisions”.  “I know that’s the way I want to be treated when I’m looking at something new”, exclaims Stan.

 

Stan's passion for teaching about the reverse mortgage can be traced back to 2002, when he spent significant time working on his own mothers reverse mortgage. Since that time he has specialized in the HECM loans, eventually even following his own advice, when in 2017 he and his wife completed their own reverse mortgage on their own primary residence.  

 

Stan has 4 children, 5 grandchildren, a 16 year old dog who still chases treats, and a beautiful wife of over 40 years.  They’re looking forward to the next 40 years of marriage and the many ‘beautiful moments of life’ that are still to come.

 

If you have questions or would just like to learn a little more about these loans, please give Stan Francom a call or send a text.  He can be reached on his cell phone at 801-808-5121. Email is: stan.francom@academymortgage.com

339 West 13490 South, Draper, UT 84020; 

Corp State Lic PA #22177, CA #4170013, MI #FR0018875, AZ #BK-0904081, IN #10966, TX #3113, UT #5491140-MLCO, NM #01451, FL #MLD241, WA #CL-3113, GA #20505, OH #RM.803997.000

Licensed by the Department of Business Oversight Under the California Residential Mortgage Lending Act; Figure: 7 TAC §81.200(c) CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A MORTGAGE BANKER OR A LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED MORTGAGE BANKER RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT WWW.SML.TEXAS.GOV.; Georgia Residential Mortgage Licensee

State Lic CA #CA-DBO99049, OH #MLO.052448.000, MI #99049, NM #99049, WA #MLO-99049, IN #33345, TX #99049, FL #LO38700, GA #69310, PA #59900, AZ #LO-0921595, UT #5492730

Ryan Nelson - Regional Sales Leader Oregon & SW Washington | NMLS# 391412

State Lic: OR # 391412 | ryan.nelson@academymortgage.com | 503-563-7840

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Testimonials

As a 73-year old retiree, I was beginning to have financial concerns about my future. Although I had heard negative things about reverse mortgages in the past, I decided to do some research to discover if this was an option for me. A friend suggested I contact a local (non-reverse) mortgage company who in turn connected me with an agent at Academy Mortgage. From the very first, I felt I was dealing with an honest, informative, no pressure organization which ultimately led me through the entire reverse mortgage process in an easy to understand manner, answered all of my many questions promptly and was always available throughout every step of the way until the final signing of the loan and follow-up. I would definitely recommend Academy Mortgage to anyone considering a reverse mortgage.

Karen Moskowitz

Bainbridge Island, WA

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Contact Us

Academy Mortgage Reverse

 

6650 SW Redwood Ln Suite 350

Portland, OR 97224

ryan.nelson@academymortgage.com

Tel: 503-510-1910

Academy Mortgage Corporation is an Equal Housing Lender | Corp NMLS# 3113

MAC519-1464166

Please Note: the information on this website is based on an FHA HECM (Federal Housing Administration Home Equity Conversion Mortgage) mortgage product, which is a type of mortgage loan.  There are fees associated with this loan as well as compounding interest.  The loan is not a government benefit and must be repaid.  There is no guarantee of financial security, and the consumer is responsible to pay the property taxes, homeowners insurance, and property maintenance fees independent of the loan, which can be a significant cost.  The consumer faces a risk of foreclosure if they do not meet these obligations.  For more information about the FHA HECM reverse mortgage product visit http://portal.hud.gov/hudportal/HUDsrc+program_offices/housing/sfh/hecm/hecmabout. This ad is not from HUD or FHA and was not approved by HUD or any government agency.