Many jeopardized by poor credit for NMLS renewals: Industry Leader Update

[vimeo id=”28175743″ width=”601″ height=”338″]

NMLS license renewals may get dicey for reverse originators with challenged credit history

If the last few years have taught us anything it’s that mortgage and financial professionals suffered financially with other Americans due to the housing and economic crash. This leaves many qualified reverse originators at risk of not being able to renew their NMLS license Continue reading

Persistence: Friday’s Food for Thought Video

[vimeo id=”28166015″ width=”601″ height=”338″]

1.  Identify Your Wants and Desires

If you don’t know where you are going, you will probably end up somewhere else.  – Lawrence J. Peter

List your desires both professionally (originations , income) & personal

2.  Determine Your Motivation

Why do you want to work as a reverse mortgage professional?
Help seniors? Solve problems? Focus on these motivators

3.  Outline Your Definite Action Step

More marketing?
A more detailed business plan?
Accountability circle?
Tracking sales activity (CRM, outbound calls)

4.  Keep a Positive Mental Attitude

Gas in the tank
Mental garbage disposal. Deal with the feeling and move on.

5.  Build Your Mastermind Group

No pessismists
Those who will be honest and hold you accountable
Creative poeople

6.  Develop Discipline and Habit

Discipline is the bridge between goals and accomplishment. – Jim Rohn

There will be a lot of hindrances that will stop you from moving towards your goal, and without proper discipline, it will be easy for you to sail away.

I wish to credit StepCase Lifehack for the above post. You can find the full article here.

 

Loan Limits Didn’t Change…But Does It Matter To Me?

HECM Loan Limits, Lending LimitsThe good news is we just heard that the HECM loan limits will remain the same through December of this year. I’m sure there are many out there who are breathing a little sigh of relief as it buys you some time to get those higher value property owners to get their reverse mortgage in process.

To me it did not really matter, and not because I live in an area that is not affected by the lending limits. I am in Baltimore, a stone’s throw from Washington where the property values have not suffered as much as in other areas of the country. No, the reason it would not affect my reverse mortgage business either way is that I have a plan. And I stick to that plan. Look, there will always be market forces outside of our control. You can beat your head against the wall when something happens, or you can continue to work your plan.

I am certain that those who have a written, detailed plan and are using a coach of some sort to hold them accountable to that plan are going to write loans no matter what market conditions may be. They accept that there will always be some regulation or other occurrence that is out of their control and they move on. What are you doing right now, today to be certain that you will not be sidetracked by things you cannot control? Stay focused, stay on track and continue to help our seniors. They need us now more than ever.

 

Expanding senior housing options & opportunity

How Reverse Mortgages Can Help Seniors Age In Place, Part 2

Whether an older person is considering housing alternatives in the near term, or planning ahead with an eye on possible future needs, it makes good marketing sense for reverse mortgage professionals to become familiar with the range of senior living arrangements available, which will maximize your reverse mortgage marketing efforts.Continue reading