I Survived COVID-19

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I Survived COVID-19
The tale of one ‘fluffy’ middle-aged man in the age of the modern plague

[4-minute read]

Stoicism holds a particularly strong appeal. Perhaps because it pushes me toward embracing uncomfortable realities. One of the more pragmatic comments I made this year was, it wasn’t ‘if but when’ I would contract the novel coronavirus. Seeing the early signs of what I believed was certain to become a pandemic emerging from China in mid-January I began my preparations.

I certainly didn’t starve myself to drop weight, but I did take some practical measures to give myself a fighting chance should I contact the infection. As one friend who caught the virus told me, “if you’re not cheating you’re not trying”. The strategy was to make my system inhospitable for any virus, much less COVID by taking a strategic set of vitamin supplements every day. It was the prudent choice having had a long history of childhood bronchitis and a few bouts of bacterial pneumonia, one that left me gasping for air 7 years ago. Would it guarantee a result? No. However, having a vitamin deficiency is to begin at a disadvantage.

Now before you go any further know this- I’m not a doctor but I dress like one when I don my snazzy surgical mask when shopping or in an indoor public space. That said, always seek the advice of a medical professional before undertaking any regimen.

As the annual tradition of the Super Bowl neared I finalized my daily ‘winning set’ of vitamins.

  • 50mg of Zinc
  • 4,000 IU Vitamin D3 (this is NOT the USDA recommended amount)
  • 3,000 mg Vitamin C
    Not included are my daily allergy pill, B-vitamins, and antacid.

In February a relative in Southern California was exposed to the virus working out. As a result, I decided to stop going to my crowded gym and instead began a 1-hour cardio regiment through a nearby nature preserve.

Each Sunday afternoon I reloaded my arsenal of vitamins into a prescription box with my virus-kicking power combo hoping for the best when that appointed day should come.

That day was Friday the 13th, November 2020. How ironic.

That evening after concluding an evening Zoom session with a group of friends who I typically met in-person each week, I noticed something quite odd. I couldn’t smell much. As a test, I sprayed some of my trusty cologne onto my fingers, rubbed them together, and held them directly under my nostrils. “Sniff, sniff”. Nada- nothing-zilch. I had absolutely zero sense of smell! It was a clear and sobering sign that I had likely contracted COVID-19. Oddly enough I had already scheduled a test two days earlier for that Sunday having been potentially exposed the prior week. How fortuitous.

Test or no test I sprang into action. I doubled my zinc and vitamin D3 doses and forced myself to do something I hadn’t done in decades- get over 8 hours of sleep throughout the week. After all, a rested body is best suited to fight an invading pathogen.

As the days passed nine-months of terrifying COVID-19 news segments replayed in my head. I anxiously waited for the other shoe to drop. Would I go into respiratory distress? Would there be other complications? Would this be worse than the bilateral pneumonia I suffered in 2013?  Should you ever contract COVID know this- you must fight to keep your emotions in check. In addition to a virus, there’s a pandemic of fear that can induce your body to make itself sick. One particular evening, a sense of foreboding fear washed over me. My lungs began to tighten and even feel congested. Minutes later after telling myself that perception isn’t always the reality- the symptoms faded never to return. One thing that finally did return 5 days later was my test results. The PCR exam was positive for COVID-19. To be honest it was a relief to know I was one step closer to putting this episode behind me.

In the end, I was extremely fortunate. While my smell has yet to return my worst symptoms included a few weeks of intermittent fatigue but not quite enough to keep me completely away from exercise or chores. However, sadly many of us have lost friends or family to the disease or have seen some hospitalized. It’s important to remember that everyone’s experience is unique.

You may be asking what about your family? To respect their privacy I’ve omitted specific details. However, everyone in our home did contract the virus- some, unfortunately, exhibiting ‘super-charged influenza’ symptoms. Today, everyone is healthy and thriving once again.

Just as everyone who contracts the virus wasn’t necessarily careless, each individual’s reaction and severity of symptoms will vary widely with little apparent rhyme or reason. Outside of self-care the randomness of severe symptoms seems to point to the human genome.

In the near future, you will likely know someone who has become infected. If so, encourage them to not give in to negativity and fear. Even better, if you’ve recovered from COVID-19 you may have the opportunity to donate convalescent plasma to your local blood bank which could help critically ill members of your community. Many blood banks are testing for antigens at no cost.

Someday, COVID-19 will be behind us. However, fighting fear while protecting and caring for your family, neighbors, and friends is a never-ending mission.

Stay healthy. Stay positive. Be Smart.

Shannon Hicks.

How to Create Happier Holidays for Seniors

seniors, christmas, reverse mortgage news

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The following article originally appeared on HECMworld in November 2018

This time of year is marketed as a Hallmark movie, with smiling scenes of happy families and voices lifted in song. Yet for many older people who have lost their spouse, or who may be facing health or financial challenges, the holidays tend to exacerbate feelings of aloneness.

Grief can intensify around the holidays as well, particularly if this season is associated with loss. End-of-life issues expert Michelle Peticolas says grief is a physical experience as much as an emotional one and needs to be addressed as such:

“Significant loss impacts the brain. The neural network pattern associated with a particular attachment — person, animal, object, identity, etc. is broken. It’s a little like a computer hard drive that freezes. The reality that a long-held attachment is gone simply does not compute.

“The pathways that previously led to pleasure, comfort or love now lead to an abyss. It takes time for new brain pathways to replace the old, to develop a new pattern.

“The first order of business in navigating the physicality of grief is patience, just as one needs patience in healing a broken bone. A new physical structure is being built and this will take time.

“As with a broken bone, there are actions that can reduce the suffering and support the healing. Sleep and healthy eating are essential to any bodily repair. Exercise also heads the list because in addition to boosting the immune system and filling the body with ‘feel good’ endorphins, it provides the body with a whole array of physical stimulation that supports brain development while renewing those pathways that are still intact.

“Focusing on the body can provide relief and release from grief energy that builds up in the body. Things that stimulate the senses, like sound, music, touch, physical movement, taste, aroma, and visuals all help to bring attention into the body. Being in the body takes the mind out of the flow of time — away from longing for the past and/or catastrophizing about the future. It is a temporary respite but a healthy one. It gives the nervous system a break from the emotional flood that grief can bring while supporting the physical healing of the mind.

“There are also times when any stimulation may be more than the brain can manage. In this case, activities that are soothing, relaxing and evoke a feeling of safety and support tend to work best. Essential oils, hot baths, massage, being held or hugged by a trusted person are possible choices. Sitting in the sun, or walking in the forest are also good.

“Create a list of activities to rely on when unhappy or distressed. Put items, such as an essential oil or pictures of items, e.g. photo of the woods, with the list into your first aid kit for grief care. It can be an empowering action at a time when one feels quite helpless.”

For reverse mortgage professionals, the simple act of smiling at your senior client — even over the phone; the smile comes through in your voice — can have a huge, positive impact. One longtime LO says, “When I’m in a store and make eye contact with complete strangers in passing (women as well as men) with a relaxed countenance and a smile, they always return the smile, often with a nod. I can walk into a room on any occasion and start a conversation within a minute. The point is being open and approachable. Some people can’t do this. Those of us who can, and choose to, find our days are more pleasant and less stressful…plus we open ourselves to learning experiences and new activities from new acquaintances.

“We need to help older adults who may be alone to think about ways they can broaden their friendship base and learn to enjoy new activities they may not have explored previously, and a smile is a way to start.”

One of my favorite smile-inducing videos is Validation. This is all we really need from one another: to be validated in our everyday encounters. A reverse mortgage professional who shows a client true interest and care is halfway home. Happy holidays.

2021: Improvise, improvise, improvise


[2-minute read]

Describing the skillset needed to succeed in live combat one battle commander quipped “improvise, improvise, improvise”.

Welcome to the final month of 2020; quite frankly, a year most of us would like to forget. However, there is much wisdom to be gleaned from what many have begun to call a ‘dumpster fire of a year’. But alas, all is not lost.

To our everlasting gratitude, HUD and FHA responded quickly and decisively in the early days of the pandemic allowing for desktop no-inspection appraisals, and the submission of electronic HECM endorsement case binders. This was made possible in part by FHA’s Catalyst software- a key component of the agency’s multi-year IT modernization initiative.

Lenders and brokers alike quickly switched to remote selling- first in part, then later exclusively in some cases. IT departments large and small scrambled and successfully deployed the software and infrastructure needed for originators to engage with homeowners without ever having to step inside the door.

2021 will require each of you to continue to up your remote sales game, your internal efficiencies, and marketing. We here at Reverse Focus are committed to equipping you for that challenge. As part of that commitment in two short weeks, we are offering a FREE training webinar “5 Ways to Crush Remote Sales in 2021” with Reverse Market Insight’s Jon McCue. If you’re anything like me you’ve been gleaning as many tips as possible on how to successfully work and sell remotely since early spring.

Author and social philosopher Eric Hoffer perhaps put it best when it comes to adaption. “In times of change, learners inherit the earth while the learned find themselves beautifully equipped to deal with a world that no longer exists.”

Here’s to each of us being ‘learners’ and inheriting the new world that 2021 is certain to bring innovative business professionals.

-Shannon Hicks

 

You Don’t Have to Trash Thanksgiving

don't trash thanksgiving


[3-minute read]

Chances are your Thanksgiving this week will look unlike any other. You’re not alone. As COVID-19 once again spreads across our nation families are grappling with the question, “should we cancel Thanksgiving?”. The good news is there are several ways you can honor the centuries-old holiday without forgoing all traditional festivities.


Here are some practical tips for a safe and happy Thanksgiving holiday from your friends at HECMWorld and Reverse Focus.

  1. If your bird is still in the freezer, pull it out now! The general rule is 24 hours are required for every four pounds. A 12-pound bird is going to be a little frozen in the middle if you haven’t already placed it in your refrigerator. Alas, not all hope is lost. You can employ the same trick your mother may have using cold water. Instead allow 4 hours for every pound to thaw the bird in cold water, replacing the cold water every 30 minutes. Better set that stopwatch on your phone.
  2. These are not unprecedented times, but they certainly are for us. Over 100 years ago the Thanksgiving holiday was unlike any before it. In 1918 the nation was in the grip of the second wave of the Spanish Flu which killed over 195,000 Americans in the month of October alone. Consequently, millions of families found themselves not only separated to avoid the spread of the contagion but grieving the loss of a family member. Case numbers surged in the week’s following massive crowds celebrating the end of World War One, now known as Armistice Day. Another surge came around the Christmas holiday following Thanksgiving Day festivities.
  3. Protecting the vulnerable doesn’t mean you have to lose touch. Sadly this Thanksgiving will not be celebrated with family members of all ages who would typically gather together under one roof. Unlike 1918 technology will help millions stay connected virtually via video chats and teleconferencing.  Talk with your older family members today and make plans on how you can connect this Thursday. You can even email them instructions on how to use Zoom to help eliminate any confusion or frustration in using the software for the first time.
  4. Give the gift of Thanksgiving dinner. One practical way to spread the holiday cheer is to purchase a Thanksgiving meal for your family or loved ones. For most, it’s the preparation of our beloved side dishes that are most labor-intensive and these may be the perfect gift!. Contact the local restaurants, delis, or grocers in their area and see what options are available for either delivery or contactless pick-up.

A century later many face the disappointment of separation from loved ones and the anxiety that comes with a novel viral epidemic. The good news is we have resources that our great grandparents never dreamed possible a hundred years ago;  these will help us weather what is certain to be an unusual but manageable holiday season.

You see, there’s no reason to trash Thanksgiving after all.

From our team at HECMWorld & Reverse Focus we wish each and every one of you a safe and happy holiday.

8 Tips for 2nd Wave Selling


[3-minute read]

The long-predicted second wave of the coronavirus pandemic is now ramping up across the U.S. Even in my small town of 95,000 we had over 300 infections just this last weekend. Understandably, under these circumstances, the proverbial kitchen table is off-limits, but we can set up a virtual table and prepare for the virtual sales season.

Here are 8 tips to help you get the greatest success from your remote sales:

  1. Once you secure a virtual meeting, email the homeowner the link to join a Zoom meeting you have already scheduled. You may also want to include a link to a short how-to video showing the basics of how to use Zoom.
  2. Don’t wing it. Each of your sales presentations should have a beginning intro, a middle, and an end where you wrap up the session for the next steps. Map out your plan. The benefit of virtual meetings is no one sees what notes you’re reading.
  3. Prepare any reverse mortgage quotes, illustrations, and charts. Keep any materials in a folder on your desktop for easy access. Do not reveal the names of other clientele on your screen otherwise, you will lose their trust as they fear others will see their name as well.
  4. Face the light. Natural lighting is not your friend. Your light source should be coming from in front of you. Close nearby blinds and dim overhead lights when necessary. If you’re using a virtual background, have a blank wall behind you for the best effect.
  5. When possible use a good microphone. Investing in an external mic will give you a fuller and warmer sound and avoid you looking like you forgot to remove Q-tips from your ears if you’re using the latest ear-buds.
  6. You never wanted to be a TV star? Well, you are one now…at least for each homeowner who flips open their laptop to chat with you. Practice looking straight into the camera, the use of hand gestures, and when to share your screen, and when your face should be full-screen.
  7. What is your first sale during your virtual meeting? What’s your second sale? How can you measure attentiveness and trust? These are the issues you will be mindful of before, during, and after each session.
  8. Secure an appointment for a second meeting before you disconnect. Follow up with each prospect using an engaging motion email with a short video message. Loom is your best bet to capture the interest of prospects.

12 Tips to Get the Most Out NRMLA’s Virtual Annual Meeting


[3-minute read]

Quite honesty I miss you all. The annual pilgrimage of reverse mortgage professionals to connect, learn, advise, brainstorm, and encourage is the highlight of the year for many. Yet, thanks to the COVID-19 pandemic, we are forced to avoid meeting in large numbers (a wise choice). Thankfully, NRMLA has prepared a virtual annual meeting. Now that they’ve done their part here are twelve tips for each of to us to prepare to get the most from this meeting, and all future virtual conferences.

  1. Make sure your photo and contact information is current. Your Zoom meeting avatar should include your photo so attendees can easily identify you.
  2. Dress professionally– pajamas may be tempting but dressing the part helps you get into a working state of mind.
  3. Check your lighting. Is your face dark? Is your background cluttered? Organize your office backdrop and add some soft white light directly to your head and shoulders using a lamp outside of the view of your camera. If you’re using a Zoom virtual background, it’s best to have a solid well-lit background behind you for the best results.
  4. Close all unused applications. Even better, restart your computer and start fresh with only the virtual meeting software running. Check your camera and make sure it’s activating. If not, restarting your computer typically fixes the glitch.
  5. Turn off all pop-up notifications and especially- turn off your email. You can respond to messages between sessions.
  6. Put your phone on silent or in airplane mode during the session. Nothing’s worse than your phone zapping your mental focus.
  7. Clean your web-camera lens. Smudges never look good…they only make you appear out of focus.
  8. Time-block all the sessions you will be attending on your calendar. Include the Zoom/Virtual meeting link in the calendar event.
  9. Have a notepad or word processor ready to take notes. If notes will be provided focus on the most relevant takeaways and leave the rest to the presenter.
  10. Be prepared to participate. If all attendees are muted, be ready to type in your questions.
  11. Avoid multitasking and keep your attention directed at the camera during the presentation. If you must look away for a bit turn off your video.
  12. Between sessions stretch your legs, get some water or a snack, and move around a bit. Sitting in your chair for six hours will eventually sap your strength and aggravate your back.

There you have it. 12 ways to get the most out of NRMLA’s Virtual Annual Meeting. Add your own tips in the comment section below. Cheers!

Here’s what truly motivates change


[2-minute read]

Social philosopher Eric Hoffer wrote, “discontent by itself does not inevitably create a desire for change”. Each and every one of you who has sat face to face with a skeptical homeowner can nod in agreement.

There’s much discontent to appeal to for those who’ve found themselves feeling shortchanged by the American Dream. Perhaps it was a financial shock from a chronic health condition, the death of a breadwinner or losses suffered in the stock market. These are significant and tangible reasons why millions of retirees find themselves stressed, unhealthy, and lacking the funds required to maintain a comfortable standard of living.

Why pain alone never sells

[read more]

If discontent is the kindling, then hope is the match that ignites the fire. The older homeowner must have some level of faith that a reverse mortgage is a safe and viable solution before ever entertaining the notion. They also must have the hope of a better future without the crushing burden of mortgage payments and envision how a reverse mortgage will improve their remaining years.

Discomfort and fear are poor motivators without hope. Successful political candidates have latched onto the theme of hope to motivate the masses. So why do so many homeowners endure years of financial want and angst? Perhaps the answer is found in routine such as forty-years of dutifully paying down one’s mortgage so they can retire mortgage-free. That routine staves off the pangs of insecurity we face in our working years when contemplating retirement. When presented with a ‘radical’ alternative that security is threatened and for many, a reverse mortgage can appear to be a radical solution.  

Reverse mortgage professionals can be likened to sherpas guiding their charges across chasms of uncertainty and ruin.  Will they balk, question, or outright resist? Certainly, and it’s quite a natural response.

During these moments of fear and hostility to change lead them toward hope. The hope of a better future with significantly fewer financial worries. The hope of rewarding themselves after investing their entire lives in others. For in the end, it is hope that pushes us beyond our fear or acceptance of the status quo.

How can you incorporate hope into your marketing, sales, and business model? Share your ideas in the comments below.

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5 Ways to Prepare Seniors for the ‘2nd Wave’


[3-minute read]

A second wave of COVID-19 seems imminent. While mortality rates have dropped dramatically seniors may shelter in place again. How can you prepare yourself and your business?

The nation has ‘flattened the curve’ of coronavirus hospitalizations but new cases are on the rise in many states. Yet life is beginning to return to normal with offices, restaurants, and retailers opening their doors months after shuttering their doors. Two forces have altered the gravity of our national economy and the mortgage industry- the media and infectious disease experts. Experts have warned that a second wave of the dreaded virus may arrive in November and possibly linger through the flu season and into the new year.

Being the most vulnerable demographic older Americans are rightly concerned about such forecasts and consequently may choose to return to the relative safety of their homes. Some may find themselves unable to work from home. A recent brief published by the Center for Retirement Research finds that 55 percent of older workers do not have the means to work remotely and many may “face re-entering what they view as unsafe work environments”. A valid concern especially for those whose job entails close contact with customers.

From this we can draw two conclusions:

  1. Older workers may find themselves in a financial crunch unable to safely return to work
  2. Many retired homeowners will avoid face-to-face meetings or office appointments fearing exposure to the coronavirus.

All which means whether a second wave emerges or not now is the time to…

[read more]

now is the time to retool our means of engaging potential borrowers. Mike Floth, president of this show’s sister company Reverse Focus said in a recent interview with Reverse Mortgage Daily, “We’re in a position that is really exciting because we have some tips and tricks up our sleeves, we do have some ideas that we can share”. One of those ideas Mike has shared is the use of both teleconferencing and email communications software that bridges the gap in remote sales creating a personal connection.

“Of course, Zoom is a buzzword now. Everyone’s using Zoom,” Floth says. Zoom’s popularity exploded in the early spring as Americans found themselves isolated from coworkers, friends, and family members. “It’s always been big, but now Zoom is everything. Another one is Loom, which is a very simple point-and-click screen recording software that also records video while you’re presenting your computer screen.”

So how can lenders and originators prepare? Here are a few points to consider.

  1. Check on the welfare of your existing clients. Do they have the means to get groceries or have them delivered? Is there a family member in the area who is willing to assist them? Can medications be delivered?
  2. Ask previous borrowers if they are current on their property charges such as property taxes and insurance. Do they need assistance? If so help them contact the loan servicer.
  3. Decide if your office will be offering in-person visits to prospective borrowers and if so, how you will implement safety measures. Market your safety protocols and plans vigorously.
  4. Train yourself and your team members on how to use remote engagement technologies such as Zoom, Skype, Google Meeting, Loom, or Bomb Bomb.
  5. Advertise locally in print and online where seniors ‘congregate’.If there’s one silver lining in the age of ‘social distancing’ it may be that many homeowners who found in-person meetings or phone sales intimidating may embrace remote sales as a less threatening and low-pressure means of working with a reverse mortgage professional.

The following is adapted from the June 15, 2020 show script of the Industry Leader Update.
Written and produced by Shannon Hicks ©2020- HECMWorld

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Hey! How are you?!


[2-minute read]
“Hey. Remember that time when we met and talked about a reverse mortgage 3 years ago and you said no? Do you want to talk again?” That approach would be somewhat believable if it were from a Saturday Night Live skit. No reverse mortgage professional with a functioning cerebral cortex would ever utter such words. However, it’s easy to find oneself saying something that while less abrasive, pretty much reflects the same sentiment- ‘you said no and I can still help you’.

While you typically ‘think in reverse’ 16 hours each day your previous potential borrowers do not. In fact, count yourself lucky if they even remember your name. For the handful of you reading who kept in touch with newsletters, birthday cards, or phone calls- congratulations. [read more]

Our once-normal lives are changing at warp speed. Many older homeowners could find themself facing a financial crisis after being laid off or no longer receiving dividend income from their stocks. Would these unfortunate events cause them to think of you first, pick up the phone, and spill out their problems? In rare instances yes, but not likely.

And this is where a better approach gets you in front of an informed, motivated, and qualified prospective borrower. Here’s one example.

“Hello, Mrs. Hayes. This is Shannon. We met last August. Yes, before the coronavirus. How are you? The reason for my call was to check in and see if anything has changed for you since we last spoke.” Briefly mention any important facts they shared during your first meeting.

After that, it’s your turn to actively listen and take notes.

They may say ‘not much’ or ‘nothing’ in reply to your query. They may explain that they’re concerned they’ll run out of money because of the virus’ impact on our economy. Regardless, there are three things you’ll want to say. First, interest rates are at historic lows which means they stand to qualify for more money. Second,  home values may be at their peak which increases their ultimate cash benefit. Third, ask how they feel about their accumulated home equity? Do they consider it to be safe? In an ideal world, what would they like to do with the equity that’s grown over the years?

If they insist they don’t need to further explore a reverse mortgage, ask them if they know anyone over 60 who may benefit.

You may have noticed that this ‘check-in’ call gives you the opportunity to ask open-ended questions and listen to learn what financial pressures they face. Keep it casual and empathetic. Your two goals are to actively listen and then schedule a follow-up meeting (in-person or remote) to explore a reverse mortgage when suitable.

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The Refi Boom and the Economic Stimulus Sugar Rush

economic sugar rush housing refinances


The Federal Reserve’s interest rate cuts and government economic stimulus have given our economy a pure sugar rush. One of the early manifestations of this ‘sugar high’ can be found in the mortgage market’s surge of refinancing activity.

Traditional mortgage refinances are 50% higher than a year ago according to the Mortgage Bankers Association. Home Equity Conversion Mortgage refinance transactions also climbed from an average of 5.4% in 2019 to an average of 20% of all FHA case numbers issued for the federally-insured reverse mortgage. In fact, August set a new high for refinance activity with 36% of all HECM case numbers being HECM-to-HECM refis transactions.

Against this backdrop fiscal year 2020 endorsements for the HECM grew 34% over 2019. A considerable part of that increase can be attributed to this new yet anticipated spike in HECM refinance activity.

[read more]

While traditional borrowers are reducing their monthly payment by hundreds of dollars, those refinancing a HECM are harvesting additional cash thanks to their home’s value and record low interest rates.

All with all cycles, they eventually end. Where will originators turn once the refinance boom fueled by low rates fades? One market that still holds potential but has yet to see significant growth are HECM purchase transactions. Since June 2019 H4P (HECM for Purchase) case numbers have hovered between a modest four to six percent of application case numbers assigned by FHA.

While the H4P market certainly requires ‘a particular set of skills’ to work closely with realtors and a solid understanding of sales transactions, originators still can make significant inroads. With real estate values peaking buyers can sell their home at a record price and make a much smaller down-payment thanks to effective interest rates between three and four percent. However, buyers face the challenge of a housing inventory shortage.

HECM for Purchase Transactions 2019-20
Existing home sales hit a 14-year high but not enough new homes are being built to meet demand. Last month Bloomberg reported that home inventories would be exhausted in three months at our current pace of existing home sales. Not surprising considering the impact the COVID-19 pandemic shutdowns had on new construction labor, materials manufacturing, and financing disruptions. Housing inventory is expected to increase appreciably next year when mortgage and eviction forbearance measures end and new home construction projects are completed.

The outcomes of economic stimulus can be seen in all segments of the U.S. economy. Preparing for the next phase of HECM marketing and production is vital for success as we face the economic uncertainty of a second wave of the coronavirus and enter the new year.

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