Boundaries. Seems like a negative word for some because it means saying no to someone at times. Perhaps, but each of us as reverse mortgage professionals have a full plate and little time to waste. I chuckled walking through an office last week where the administrator had…
Continue readingA Matter of Choice, Not Chance
“Destiny is not a matter of chance; but a matter of choice. It is not a thing to be waited for…” Yet many seniors are reluctant to seize the day, as they perceive reverse mortgage with the psychological equivalent of “deer in the headlights” panic..
Continue readingSeptember 2012 Top 100 HECM Retail Lenders
Download your September Top 100 Retail HECM Lenders Report Here.
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Genworth made the jump from third to first while AAG & Security One Lending remain strong in the top 10 moving one notch. RMS made a huge jump from 40 in August to break the top 25 at 23rd position. Overall endorsement volume remains down year over year but lenders are growing rapidly due to consolidation and we should see further increased endorsements as former MetLife loan officers pipelines move through to endorsements in the coming months.
Walking away? Loan Fall Out
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Are potential reverse mortgage borrowers and applicants walking away from the loan or is it that they just don’t qualify? The question stems from a recent report from IBIS software which is tracking the number of HECM borrowers who receive counseling that actually end up with a closed loan. A first HECM counseling protocols were suspected by some as to why so many never closed a loan. But is that really what is happening? Other factors must be examined such as appraisal values, property conditions or just cold feet. Our video segment examines the numbers and possible causes and also reason to be optimistic in the future.
Making a better connection
Build a better connection. Since we are in the relationship business I thought it appropriate to discuss how we can build stronger relationships. Ironically the quality of those we meet increases with the quantity or number of those we meet. Yes. The more prospects we have it seems…
Continue readingGetting the most out of conventions
The NRMLA is holding its Annual Meeting & Expo in San Antonio, Texas October 15-17th. What may be less apparent is how to best utilize the occasion so you get the most out of the convention — without wasting time or burning the proverbial candle at both ends…
Continue readingTurning the ship around
Certainly the reverse mortgage industry has garnered more legitimacy as a financial planning tool amongst financial professionals but we still have a long way to go. But what about those who don’t see the legitimacy or value? How do we turn the proverbial ship around? As our sales force becomes more educated…
Continue reading20 Inspirational Quotes
We need it as reverse mortgage professionals. Inspiration. Here are 20 amazing quotes from Sir Winston Churchill who inspired a generation faced with adversity and uncertainty enduring to final victory.
Continue readingScare Tactics
Many seniors are becoming wise to telephone scams telling them they’ve just won a sweepstakes, they probably feel they can trust what they read in Time magazine, or what an elder abuse attorney shares in a letter. Both recent scenarios entail gross misrepresentation of the reverse mortgage industry — and mislead seniors by what should be trustworthy sources of information
Continue readingNot Confused But Informed
Would a senior make perhaps the biggest financial decision of their life, with their largest asset in the midst of confusion and uncertainty and choose to take a reverse mortgage? Most likely not. But that was the impression the Consumer Financial Protection Bureau included in their required report to…
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