The value of a CDLP

Understanding the Unique Value of a CDLP®

Perspective is crucial in understanding different positions, providing broader vision and clarity in thoughts, words, and actions. Certified Divorce Lending Professionals (CDLP®s) are mortgage experts who have completed an extensive certification program, coupled with ongoing education and development. Their ability to broaden the traditional scope of mortgage processes sets them apart from typical mortgage professionals who only occasionally work with divorcing homeowners.

Interview Insights: Jody Bruns on the Value of a CDLP®

We interviewed Jody Bruns, President and Founder of the Divorce Lending Association and the CDLP® certification program, to explore the value of a CDLP® and the importance of background knowledge.

*"Background knowledge is everything when working with divorcing homeowners and professional divorce teams. To be a valuable resource, you must understand how family law, financial and tax planning intersect with real property issues and strategic mortgage financing.

Many mortgage professionals think working with divorcing homeowners is just about applying underwriting guidelines. It's much broader than that. A narrow understanding of the legal, tax, and overall implications of divorce can be devastating for homeowners in the future.

Divorce Mortgage Planning is serious. It’s not a shiny new object for struggling mortgage professionals. Failure to grasp the importance of background knowledge and training fails divorcing homeowners.

I've seen mortgage professionals repurpose our content and hijack our mission statement of 'helping divorcing homeowners make more informed decisions regarding their home equity solutions.' While imitation may be flattery, it ultimately disservices themselves, the divorce team, and the homeowners."*

How Perspective Impacts Divorce Cases

Gaining multiple perspectives is crucial for a complete understanding of a situation. In divorce, different views on various topics can significantly affect the spouses either positively or negatively.

Consider these questions:

  • How would you calculate spousal support when the paying spouse has fluctuating income?
  • How would you handle spousal support versus a lump sum payout?
  • How do you evaluate home equity and the available solutions?

While your perspective may satisfy the parties during settlement, it may negatively impact mortgage financing for either party.

Understanding the Real Intersection in Divorce

In a divorce, focusing solely on distributing property and assets often overlooks life after divorce. The challenge lies in understanding how the pieces of the divorce puzzle fit together and overlap.

A key to a successful divorce is understanding the various puzzle pieces involving real property and assembling a professional divorce team. The intersection of family law, financial and tax planning, real property, and mortgage planning is crucial.

  • The structure of spousal support may directly affect income for an equity buy-out.
  • Details about real property may impact mortgage financing options.
  • Verbiage in the marital settlement agreement may affect the vacating spouse’s ability to purchase a new home.
  • Ineffective use of money from a QDRO may constitute taxable income.

Jody Bruns' Final Thoughts

"You can provide value or chaos. Impeding mediation or alternative dispute resolution can affect the ability to let go of counterproductive positions. However, CDLP®s make a difference. Their knowledge and expanded vision of all things divorce make them invaluable for homeowners and professional divorce teams."

When asked about competing divorce mortgage training programs, Jody chuckled and said, "That's a question better suited for the many members who have converted to our program!"

Join the CDLP® Community

If you're a divorce professional looking to integrate divorce mortgage planning into your practice, search our directory for a qualified CDLP® at Divorce Lending Association.

For mortgage professionals interested in incorporating divorce mortgage planning into their practice, visit Get CDLP Certified.

The background knowledge of each team member brings value, different perspectives, and better solutions. Be part of the solution – get CDLP® certified.

 

 

This is for informational purposes only and not to provide legal or tax advice. You should contact an attorney or tax professional to obtain legal and tax advice. Interest rates and fees are only estimates provided for informational purposes and are subject to market changes. This is not a commitment to lend. Rates change daily – call for current quotations. 

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