According to a poll conducted by Reverse Mortgage Daily 12% of lenders anticipated a loss in volume less than 10% while more than half expected an impact of 15% or more.
Continue reading10 Steps to Becoming a Linkedin Star
If you are not actively using the professional networking site Linkedin you are missing out..big time. Rather than sifting through political rants, cat videos and pictures of cute kids on other social platforms you can find valuable insights and posts from professionals in our industry.
Continue reading7 Tips to be More Persuasive
To save you the cost of an all day event let’s look at seven ways we can be more persuasive in our daily business and yes, even our personal life. The following is from a recent article by Robert Locke.
Continue readingIs the Battle Over?
Is the battle over? HUD’s recent change to non borrowing spouse policy for Home Equity Conversion Mortgages is lauded by consumer advocates. June 12th may mark the end of the long fought battle between the Department of Housing and Urban Development, displaced borrowers and consumer advocacy groups.
Continue readingGot Skills?
You got skills? Working hard may look good but it may not be enough to ensure your success. Truth be told many work hard and yet fail to achieve their goals.
Continue readingTransparency Needed for Improvement
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CFPB Not Releasing Ad Data at Core of Recently Released Study
After releasing a consumer advisory and the results of focus group findings of reverse mortgage ads that were deemed misleading, ambiguous or difficult to understand to consumers and the media alike, the Bureau is less than forthright in releasing the data. After the release of the report numerous media outlets jumped on yet another negative reverse mortgage study. After all shouldn’t one trust a federal agency such as the Consumer Financial Protection Bureau? Yes, if that agency is fair and transparent in its findings.
Unfortunately that does not appear to be the case. In a press call last week industry representatives asked if the Bureau would make the ads used in the study available. The terse reply: they will not. Strange since the Bureau says they are committed to getting input from all parties to make markets more accessible and efficient for consumers. If that is the case then release the ads shown to the focus groups…
Download a transcript of this episode here.
Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.
Changemasters
There is a national professional group called Toastmasters that helps their members improve their speaking and communication skills. Perhaps our industry needs a ChangeMasters group. One centered on the key skills needed to adapt to the ever changing HECM industry.
Continue readingCFPB Report Says Reverse Mortgage Ads Misleading
The Consumer Financial Protection Bureau released the results of a focus group finding that many reverse mortgage ads are either inaccurate, confusing or misleading.
Continue readingA Damaged Name?
Do you ever feel prejudged as a reverse mortgage professional when interacting with the general public? It’s unfortunate but true: the words reverse mortgage have become synonymous with poor cash-hungry seniors, questionable loans and even the butt of jokes in some cases.
Continue readingRetirement Funding Solutions Inks an Exclusive Deal with Shelley Giordano and Longevity View, LLC
Giordano to Provide Training & Support on Financial Advisor Model
San Diego, Calif., June 2, 2015—Retirement Funding Solutions (RFS), a Division of Synergy One Lending, announced today that it has entered into an exclusive engagement with Longevity View, LLC, a consulting firm owned by Shelley Giordano. Giordano will provide comprehensive educational training, sales, coaching and mentoring services to support the Retirement Funding Solutions originators
The firm has been engaged to collaborate with the Retirement Funding Solutions sales force and marketing arm to create a learning community. The result will be a sophisticated professional team able to deliver the powerful message that housing wealth may provide a more secure retirement for millions of Boomer retirees. With this specialized training, Retirement Funding Solutions originators will differentiate themselves. Their proficiency in both product knowledge and relationship sales theory will earn them the trust, and resulting referrals, from the financial services providers in their local markets.
Shelley has distinguished herself as the preeminent thought leader as it relates to home equity wealth and other leading retirement topics. Until recently, Shelley has been focused almost entirely on the HECM product as a viable retirement solution for the mass affluent,”
stated Torrey Larsen, CEO of Synergy One Lending, the parent company of Retirement Funding Solutions.
Longevity View, under Shelley’s direction, will now take a wider view on aging and retirement that impact the Boomer generation. Retirement Funding Solutions will work closely with Shelley in order to identify and address the ever changing needs of this demographic.”
Additionally, Retirement Funding Solutions will help fund other collaborative activities like the Funding Longevity Task Force. RFS will be one of three RM Companies that will have a seat at the table and be able to participate with this elite group of thought leaders. The members include Rita Cheng, CFP ®, Blue Ocean Global Wealth, Washington, DC, Barry Sacks, Ph.D., J.D., former tax and pension lawyer in San Francisco, John Salter, Ph.D., CFP®, Associate Professor of Financial Planning Texas Tech University, Sandra Timmermann, Ed.D., former Director of the Mature Market Institute, Tom Davison, Ph.D., CFP ®, and Wade Pfau, Ph.D., Professor of Retirement Income at the American College.
“The selection of Retirement Funding Solutions was both strategic and relational for me, as I have worked closely with their Leadership Team for the past several years. Even more significantly Torrey Larsen and I together co-founded the Task Force in late 2012. When we started, the objective was simple: develop an advisory board that could influence how the use of housing wealth was viewed by the Financial Advisor community by using quantitative analysis as the basis of our research,” explained Shelley Giordano. “I believe the TEAM has made great progress to date and the tide of acceptance has begun to turn. There is still work to be done, but I am seeing a significant opportunity ahead for the industry.”
About RFS
Retirement Funding Solutions is an operating Division of Synergy One Lending and currently lends in 21 states with license applications pending in 17 additional states. The firm offers a diversified mix of reverse and forward products through a variety of distribution channels, including retail, consumer direct, and wholesale to support its lending efforts. Synergy One Lending is a FHA and VA Approved Lender and is based in San Diego, Calif.
For more information on Synergy One Lending, visit www.s1lending.com. For more information on Retirement Funding Solutions, visit at www.rfslends.com