One of the most common questions we get is, "What will it cost my client to consult with a Certified Divorce Lending Professional?" The simple answer, it won't cost them anything when Craig is involved during the divorce process and there is a reason for that.
Certified Divorce Lending Professionals (CDLP®) are mortgage professionals who have completed a very comprehensive certification program with ongoing continuing education and development in divorce mortgage planning. Their ability to expand their vision of the normal scope of the traditional mortgage professional is a great differentiator from those without training who have limited tunnel vision of client to application.
Divorce Mortgage Planning is the ability to put into play the desired outcome by pairing the needs and options available while incorporating the necessary details and clarity into an executable settlement agreement to obtain closure and peace of mind successfully.
Working directly with the divorce team, Craig incorporates divorce mortgage planning into the overall process with a unique and solid understanding of the intersection of family law, financial and tax planning, real property, and mortgage planning.
While a typical mortgage professional simply helps you complete paperwork and ensures your application is processed in a timely fashion, a CDLP® brings the financial knowledge and expertise of a solid understanding of the connection between Divorce, Family Law, IRS Tax Rules and mortgage financing strategies as they all relate to real property and divorce.
As a CDLP, Craig Strent
The Federal Trade Commission (FTC), the nation’s consumer protection agency, enforces the Equal Credit Opportunity Act (ECOA), which prohibits credit discrimination on the basis of race, color, religion, national origin, sex, marital status, age, or because you get public assistance.
The law provides protections when you deal with any organizations or people who regularly extend credit, including banks, small loan and finance companies, retail and department stores, credit card companies, and credit unions. Everyone who participates in the decision to grant credit or in setting the terms of that credit, must comply with ECOA.
RESPA Section 8(a) and Regulation X, 12 CFR § 1024. 14(b) prohibit giving or accepting a fee, kickback, or thing of value pursuant to an agreement or understanding (oral or otherwise), for referrals of business incident to or part of a settlement service involving a federally related mortgage loan.
Types of Lending Discrimination:
A Certified Divorce Lending Professional is a licensed mortgage loan originator and is paid directly by their employing company or broker when they successfully close a loan. It is the goal of the CDLP® to earn the trust of the divorcing client by providing strategic solutions and tactics during the divorce process that will enable them to successfully retain the marital home or be in a stronger position to purchase a new home ~ ultimately working with the CDLP® to complete their mortgage transaction with them.
Trust matters and working with a knowledgeable divorce mortgage planner can make all the difference in the end.
How are you implementing divorce mortgage planning into your case management?
Involving Craig early in the divorce settlement process can help the divorcing homeowners set the stage for successful mortgage financing in the future.
This is for informational purposes only and not for the purpose of providing legal or tax advice. You should contact an attorney or tax professional to obtain legal and tax advice. Interest rates and fees are estimates provided for informational purposes only and are subject to market changes. This is not a commitment to lend. Rates change daily – call for current quotations.
It is always important to work with an experienced mortgage professional who specializes in working with divorcing clients. A Certified Divorce Lending Professional (CDLP™) can help answer questions and provide excellent advice.
This information is shared in partnership with the Divorce Lending Association. Copyright 2022—All Rights Divorce Lending Association