Reverse Mortgages/Potential Solutions to Unknown Common Errors made by Not-for-Profits (E1710889)

Thomas Borkowski is the Director of Personal Trust at Amboy Bank. Mr. Borkowski has more than 25 years experience providing financial planning, estate planning and income tax advice to individuals, estates, trusts, partnerships and corporations. His diverse and extensive background includes five years in the tax department of KPMG, ten years practicing as an attorney in estate and business law, and fifteen years at Amboy Bank providing personal and retirement investment advice to individuals and businesses.

As the Director of Personal Trust for Amboy Bank, Mr. Borkowski provides financial planning and asset allocation advice to clients seeking to fund their retirement, college education, estate tax and survivorship needs. He also has developed training program materials for Amboy Bank’s thirty person sales staff on various topics including investments, annuities, sales ideas, and current product and regulatory developments.

Mr. Borkowski has presented seminar programs to clients and the general public regarding Asset Allocation, Investment Strategies, Medicare and Medicaid Planning, Income in Retirement Strategies for Seniors, Saving for Retirement, 529 Plans and Market Volatility. He wrote and presented seminars on Investing in Real Estate using IRA and 401(k) investments and on Trust Administration. He also made NJ approved CLE presentations to attorneys for both the Middlesex and Monmouth County Bar Associations.

Mr. Borkowski is a Certified Financial Planner. He obtained his undergraduate degree in accounting and finance from Rider University, graduating cum laude. He was awarded his Juris Doctor from Rutgers University School of Law and he holds a Master of Laws degree in Taxation from New York University.

Rich is the chair of Fox Rothschild LLP's Nonprofit Organizations Group. His primary practice is devoted to many areas, including nonprofit organizations, probabe and trust law litigation, tax constroversy and litigation, and taxation and wealth planning. Rich was formerly a shareholder at Stevens & Lee, where he represented charitable trusts, private foundations, publicly supported organizations, educational organizations, hospitals and other tax-exempt organizations.

Rich graduated from Pennsylvania State University in 1994, received his J.D. from Pennsylvania State University Dickinson School of Law in 1997, and received his LL.M. from Villanova University School of Law in 2001. He is a member of the American Bar Association, the Pennsylvania Bar Association, the Berks County Bar Association, the Berks County Estate Planning Council, and the Pennsylvania State University Planned Giving Advisory Council. He also serves on the board of directors of the Gilmore Henne Foundation, the Berkshire Country Club, and the Olivet Boys and Girls Club.

Jacqueline D’Alessandro is the Relationship & Sales Manager at Amboy Bank. She has been with the Bank for over twenty years and is responsible for business development and sales in the twenty-two branch network. Ms. D’Alessandro began her career in financial services as a teller almost forty years ago. Since that time, her career evolved into customer service responsibilities and up through the ranks of management to attain the position of Vice President. Other areas of experience included a series 7 stock broker’s license and responsibility for compliance and sales program management. Jacqueline is also Life & Health licensed. She was instrumental in the implementation of Amboy Bank’s proprietary Reverse Mortgage program at its inception in 2005 with primary training responsibility of Branch employees.

Ms. D’Alessandro is a member of NRMLA and is a Reverse Mortgage Counselor. She has done multiple seminars on Reverse Mortgages, Medicare/Medicaid, Long Term Care and related topics for Church, AARP and other senior clubs and organizations. She has participated as an exhibitor at the annual NJ Foundation for Aging events for the past four years. Ms. D’Alessandro has also done classes and presentations to other professionals including both the Middlesex and Monmouth County Bar Associations (state approved CLE), Certified Public Accountants (state approved CPE) Real Estate agents and financial planners.

Gloria Dumm is the Residential Lending Manager and Vice President at Amboy Bank. She manages the Lending Portfolio which includes Reverse Mortgages, Forward Mortgages, Home Equity Loans and Consumer Loans. Mrs. Dumm began her career with Amboy Bank in 1988 as a loan originator. She was instrumental in the implementation of Amboy’s proprietary Reverse Mortgage at its inception in 2005. In 2010, she began managing the Residential Lending Department. Mrs. Dumm developed and implemented Amboy’s Residential One Closing Construction/Permanent Loan.

She spoke at First Time Home Buyer seminars in Middlesex and Monmouth Counties and continues to work with the CRA, Fair Lending officer at Amboy Bank to reach out to our community. She also managed all changes to the current Reverse Mortgage products and assisted in structuring additional Reverse products. Mrs. Dumm is a member of “NRMLA”, National Reverse Mortgage Loan Association. She has also been an exhibitor at NJ Foundation for Aging conferences. She has spoken to various groups about Reverse Mortgages including Real Estate Agents and Financial Planners. In addition, she has instructed attorneys from the Middlesex Bar Association and Monmouth Bar Association about Reverse Mortgages which was credited toward their CLE, Continuing Lawyer Education.