A Certified Mortgage Planning Specialist (CMPS)  is a financial professional who has successfully satisfied the training, examination and certification requirements of the CMPS Institute and its ongoing (continuing education)  program for financial and fiscal literacy and expertise.

Mortgage professionals with CMPS credentials have met rigorous, peer-developed and reviewed standards endorsed by a national professional body. The CMPS Institute was formed as a joint effort by leaders in the mortgage and financial planning industries to raise professional standards among mortgage professionals and integrate sound financial planning advice into the mortgage process. Recognized for its pre-eminence within the industry, the CMPS curriculum elevates the core knowledge of residential and commercial mortgage advisors, regardless of the diversity of specializations within the industry.  At present time, only 2,200 mortgage professionals, nation-wide have attained this certification.

The CMPS curriculum incorporates the five essential CMPS skill sets related to integrating a client’s mortgage, debt and home equity strategy into their overall financial plan:

• Financial Market and Interest Rate Analysis

• Cash Flow & Debt Analysis

• Real Estate Equity Management

• Real Estate Investment Planning

• Mortgage & Real Estate Taxation

With such a wide range of subjects to be mastered, the educational process doesn’t end once the designation is earned. There is a strong commitment among CMPS Members to continuing education through classroom training, conference calls, seminars and self-study.

CMPS graduates approach their clients and real estate financing from a perspective of “mortgage planning.”

THE MORTGAGE PLANNING PROCESS

The mortgage planning process is different than the typical “shopping for a mortgage” experience. The mortgage planning relationship is not about you:

• Wasting your valuable time trying to save $25/month by comparing rates, fees and closing costs among different lenders.

• Wasting your valuable time trying to baby-sit the mortgage company you’ve reluctantly chosen to work with.

• Being promised one thing and then getting something different at closing.

• Being “sold” on one mortgage product over another.

The mortgage planning relationship is about you:

• Receiving valuable financial advice and guidance that can literally save you hundreds of thousand dollars.

• Trusting a professional who is committed, qualified and equipped to deliver what they promise.

• Experiencing a “concierge” level of service when you are in the market to buy a home, refinance your mortgage or make cash flow changes to enhance your lifestyle.

• Implementing a defined financial plan of action in helping you achieve your life goals and dreams.

• Maintaining an ongoing high trust relationship with a team of financial advisors who can help you make necessary changes in your debt, cash flow and home equity planning strategies.

The Mortgage Planning Process is about a relationship, not just a transaction. As such, it requires a defined system of accountability in order to work effectively. The Mortgage Planning Process consists of the following five steps:

1. Establishing and defining the client-planner relationship.

-The Mortgage Planner should:

• Ask you for information about your financial situation and your time frame for results and success,
• Gather all the necessary documents before giving you the advice you need.
• Clearly explain or document the services they will provide to you.
• Explain how they will be paid and by whom. Unless you are willing to pay a flat fee for mortgage and real estate equity advice, mortgage planners are typically compensated through a commission structure set up with the lenders they work with.

-You should:

• Clearly explain how financial decisions are made in your household and include all the key decision makers in consultations with your mortgage planner.
• Be prepared to share personal and financial information with your mortgage planner in order for them to be able to advise you on how best to achieve your goals.

2. Analyzing and evaluating your financial status.

-The mortgage planner should analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your credit situation, real estate equity, debt situation and cash flow.

3. Developing and presenting mortgage planning recommendations and/or alternatives.

-The mortgage planner should offer mortgage planning recommendations that address your goals based on the information you provide. The mortgage planner should go over the recommendations with you to help you understand them so that you can make informed decisions. The mortgage planner should also listen to your concerns and revise the recommendations as appropriate.

4. Implementing the mortgage planning recommendations.

-You and the planner should agree on how the recommendations will be carried out. The mortgage planner may serve as your “coach,” coordinating the whole process with you and other professionals such as CPAs, CFP professionals, attorneys, Realtors, builders, insurance professionals and other qualified advisors.

5. Monitoring the mortgage planning recommendations through a quarterly or annual mortgage and equity management review.

-You and the mortgage planner should agree on how you will both monitor your progress toward achieving your goals. During this review, your mortgage planner can adjust their recommendations, if needed, as your life changes. Most often, this process involves periodic assessment 

HELP FOR YOUR SPECIFIC SITUATION

Some people say the best mortgage is no mortgage

Yet others say you’ll never go wrong with a 30 year fixed.

The fact is that there is no “one-size-fits-all” mortgage solution!

Why waste your valuable time trying to sift through the hundreds of mortgage options available in today’s marketplace?

CMPS Professionals are committed, qualified and equipped to help you make smart choices in these areas:

Buying a Primary Home -There are many pitfalls you can avoid when you are in the market to buy a new home.

Buying a Vacation Home - How you can comfortably afford the vacation home of your dreams while make smart financial choices.

Refinancing a Mortgage - There are tips and strategies that save you money when you are in the market to refinance your home loan.

Investing in Real Estate - Are you a speculator or investor? Great fortunes can be made AND lost in real estate. Make sure you invest with the proper strategies!

Improving Your Credit Rating - Your credit rating affects the interest rate that you pay for mortgage loans, auto loans and leases, insurance and any other type of credit. There are things you can do to help you improve your credit score.

Reducing Debt - How you can generate tax free income during retirement.

Financing Children’s Education - Average four year college costs are growing at a very fast pace. Are you prepared to help your children invest in their education?

Caring For Elderly Parents - Cash flow strategies to help finance assisted living facilities, in-home care and medical expenses for elderly parents.

Changing a Job or Career - Are you prepared to face the financial impact of losing your job or changing careers? How do you weather the storm?

Starting or Selling a Business - Business owners have unique cash flow needs. Tips and strategies for business owners, entrepreneurs and those who which to sell their business.

Financial Strategies for Divorce Situations - Unfortunately, there are over 1.4 million divorces in the US every year. Tips and strategies on how to maintain your lifestyle after a divorce and how to evaluate various financial settlement options prior to a divorce.

Improving Personal Cash Flow - Many people are never able to get ahead financially. Some tips and strategies on how you can take better control over your cash flow and financial destiny.

Saving Money on Taxes - There are many mortgage and real estate equity planning strategies that can really help you save money on taxes.