Fairway Home Mortgage Launches Nonprofit for Senior Financial Safety

Fairway Home Mortgage launched Fairway SAFE (Senior Advocacy & Financial Education) on Wednesday, a new nonprofit initiative designed to assist seniors and their families in identifying, preventing, and responding to financial scams and exploitation. This organization will serve as an educational and advocacy resource, offering free programs, materials, and collaborations targeted at senior homeowners, caregivers, and financial professionals. The establishment of Fairway SAFE addresses the escalating issue of elder financial exploitation, with federal and state regulators noting an increase in social engineering, impersonation schemes, investment fraud, and romance scams targeting older adults.

Janet Koopman, president of Fairway SAFE, stated that the nonprofit's mission is to equip seniors and their families with the knowledge and tools necessary to recognize potential threats, confidently ask questions, and make well-informed financial decisions. She emphasized that financial security encompasses not only asset protection but also the preservation of confidence, independence, and peace of mind for seniors.

To commemorate its launch, Fairway will host a complimentary national webinar on July 29 titled "Stay Safe: Protecting Yourself from Scams & Financial Abuse." This one-hour session will feature attorney and fraud prevention expert Steven J. J. Weisman, providing attendees with actionable strategies for immediate application to enhance personal and family financial security. The webinar is open to seniors, caregivers, and financial professionals, including those in the reverse mortgage sector.

The webinar's agenda includes an overview of the prevalence of financial scams and elder exploitation, common deceptive tactics employed by scammers to build trust and manipulate victims, identification of vulnerable populations and the reasons for their susceptibility, and emerging fraud trends impacting older adults. Participants will also learn practical methods for safeguarding personal finances and loved ones. Steven J. J. Weisman highlighted education as a crucial defense against financial fraud, stressing the importance of enabling individuals to recognize warning signs before becoming victims.