What makes us get up every morning and show up at the office, get in the car and drive to an appointment or meet with a prospective borrower?
Continue readingNew Service Launched for RM Industry
Equity Settlement Services, Inc. and the Law Offices of Puleo Delisle, PLLC are proud to announce the introduction of Senior Settlement Services.
Continue readingPlanning for Transition
Your reverse mortgage clients and prospects have made many transitions throughout their lives, and chances are, most of them were well thought out and planned in advance:
Continue readingA Problem with a Solution
Today the federal government pays for 62% of Long term care services to the tune of $130 Billion dollars a year. That’s a problem the federally-appointed Commission on Long Term Care brought to light in their report to Congress
Continue readingGive Up & Give In?
Giving Up & Giving in are immediately seen as negative but let’s look at it from another angle…
Continue readingThe Plateau Effect
Clearly, multitasking is overrated, as the authors of a powerful new book, “The Plateau Effect: Getting from Stuck to Success”.
Continue readingGood Intentions vs Original Intent
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Though Unwelcome Change was Crucial
Watch Last Week’s Video Here | Submit Feedback to HUD on Financial Assessment Here
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The Importance Of Intent In The Reverse Mortgage Industry
The saying goes “the road to hell is paved with good intentions”. The same could be said of the federally-insured reverse mortgage program’s recent predicament and HUD’s swift action to avoid disaster…the closure of the program. Much of the recent reverse mortgage news has focused on the announced overhaul of the Home Equity Conversion Mortgage Program, but few look at or understand it’s original intent. The words original intent are fitting when examine the origins of our program versus its evolution over the last 24 years. The Housing & Community Development Act which laid the groundwork for the reverse mortgage program says the purpose is “to meet the special needs of elderly homeowners by reducing the effect of the economic hardship caused by the increasing costs of meeting health, housing, and subsistence needs at a time of reduced income, through the insurance of home equity conversion mortgages to permit the conversion of a portion of accumulated home equity into liquid assets.”
Now What?!
Now that the old HECM is effectively gone what can we do to protect and grow our business? Here are nine valuable strategies you can begin working today!
Continue readingHECM Changes Demystified
10 Things you must know about changes to the Home Equity Conversion Mortgage Program.
Continue readingAugust Top 100 Retail HECM Lenders Report.
Download your August Top 100 Retail HECM Lenders Report Here.
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The top ten lender positions remain relatively unchanged while Nationstar broke last month’s top 10. In the wake of consolidation and acquisitions it appears that the largest lenders have firmly established their positions. What remains to be seen is the lender specific effects due to the upcoming elimination of the Standard & Saver products and the introduction of a new replacement HECM loan.