None of us knows what the future holds but we do know some of what lie’s ahead. Take for example our industry: the suspension of the standard fixed rate and financial assessment. These are future certainties we should be planning ahead for. How
Continue readingAn Unlikely Ally?
The prospect of not continuing to offer reverse mortgages has created unlikely ally for the program, AARP according to Sterne Ageel. Wall Street sees the continued profitability of the program and TWO: AARP is seen as a defender of the HECM. While AARP has long educated consumers…
Continue readingTen sentences to change your life
Here are ten sentences to improve your life. #1 “People aren’t against you; they are for themselves.” The sooner we understand human nature the better we are able to relate to others. #2 “Climb mountains not so the world can see you, but so you can see the world.” #3 “You learn more from failure than from success; don’t let it stop you. Failure builds character.” We learn best from the school of hard knocks. It’s how we are wired. #4 “The most dangerous risk…”
Continue readingOvercoming Shock
Any massive industry change that effects our business can lead to a variety of symptoms: fear, helplessness, anger, sadness or paralysis. That is to be expected. The question is how can we as individuals overcome our state of shock. Now here are a few things …
Continue reading12 Things We Weren’t Told…
Here are 12 things we may have not been told that may help us refocus and increase our happiness quotient. Some things must be experienced not learned…
Continue readingHow to Prepare for Change
How do we prepare for change in our workplace, in our industry? Here are just a few tips to help us prepare for the coming year. #1- Admit that changes comes often in our industry. Ask yourself what are the larger implications if no changes are made to the HECM program?
Continue readingSTOP, LOOK & LISTEN
“What is the highest and most valuable activity I can be doing right now?”. How can we define a ‘high-value’ activity? It is those activites that increase our bottom line, income or sales volume. That is prospecting, making calls, addressing underwriting conditions, etc. Before you jump in with both feet there are a few considerations. One- How much time do you have…”
Continue readingMastering Fear in a Changing Market
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Fear often is the result of change….change thrust upon us unexpectedly. The trick is not to conquer fear but master it. The only thing that is constant in our industry is change itself but it is how we master our fears that determines our ultimate professional destiny. A look at how to face and master our professional fearsWhat if they move my cheese?
With expected yet unknown changes to the HECM program, FHA may ‘move the cheese’. In today’s risk-adverse environment FHA is focusing on the fixed rate product. Publically they are concerned if it serves the HECM program’s original intent and purpose. But privately one could speculate that the full lump sum withdrawals of the fixed rate are seen as increasingly risky loans to an already underfunded MMI fund.
Continue readingAttitude Adjustment
What if it was as easy as ‘flipping a switch’? There are many things that can affect our attitude. Many have expressed to me their concern about future changes in our industry. Will the changes be tolerable? Will it decrease the pool of qualified reverse mortgage borrowers?, etc. etc. It can be tough if we become consumed with these things.
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