Time for a Tuneup?

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3 Steps for Self-Care & Success…

Maintenance conceptIt’s part of our regimen as car owners: maintenance and regular tune ups and oil changes. The question is do we give more attention to our vehicles than we do our own personal and mental well being?

Not unlike a car if your run yourself at high RPMs, overlook periodic maintenance or drive until the wheels fall off, you will not last long as a reverse mortgage professional. Apathy, burnout and a short fuse are sure signs that you need to apply some self maintenance sooner than later.

Here are 3 ways to tune yourself up.

1. Sleep. I used to pride myself on running on five hours of sleep, that is until I crashed and burned. The intrusion of portable electronic devices have crept into our bedrooms. How often do you

 

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

VP of National Association of Appraisers Joins Landmark Network as Chief Appraiser

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John Dingeman: Chief Appraiser, Landmark Network

Van Nuys, CA, March 14, 2016 –

Landmark Network, Inc., a leading provider of valuation management services and technology for lenders and brokers, announced the addition of John Dingeman to their team as Chief Appraiser. In his role, Mr. Dingeman will be responsible for all planning, organization, and supervision over appraisal quality control functions.

“I am extremely honored and fortunate to have this opportunity; an opportunity to join a team of like-minded, dedicated and driven individuals who are interested in serving our clients, valued panel appraisers and especially the consumer.  Together we will work towards our continued success and escalate our status as the preferred Appraisal Management Company for all lenders and a trusted partner for all appraiser vendors.”

-John Dingeman

Mr. Dingeman is a California, Arizona and Nevada Certified Residential Appraiser and registered Property Tax Agent in Arizona.  He also serves as the Past President and Lobbyist for the Coalition of Arizona Appraisers (CoAA), and is the current Vice-President of the National Association of Appraisers (NAA). He has extensive experience in the appraisal of single-family residential dwellings, small income producing properties, and vacant land. He is also an FHA appraiser and specializes in HUD/REO properties. Mr. Dingeman has assisted in the development of continuing education course materials approved by the Arizona Board of Appraisal and is a faculty member and continuing education instructor for the Columbia Institute.

“We’re excited to have John join the Landmark team.  He brings a solid reputation and years of appraisal industry experience to the position and we look forward to him strengthening both our client and vendor relationships.”  – Hunter Gorog, President & COO

About Landmark Network:

Landmark Network is a Los Angeles-based appraisal management company that offers a full range of national valuation and technology solutions. With a branch office in New Jersey and an east coast operations center in Maine, Landmark stands apart by paying premium rates and selecting appraisers based on the specifics of each assignment. Landmark included on Inc. Magazine’s Fastest Growing Companies for 3 out of the last 5 years; and was named a top Service Provider by Mortgage Executive Magazine.

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For inquiries:

Erik Richard CEO erichard@landmarknetwork.com 888.272.1214×704
Hunter Gorog President & COO hgorog@landmarknetwork.com 888.272.1214×706

 

Never Too Late for That Dream Job:

How to Switch Careers Later in Life



When my friend Susan moved back to California with her family in the summer of 2014, she began job-hunting for the first time in fourteen years. At 56, this might have seemed a daunting endeavor — a generation ago. As it was, Susan sent out resumes somewhat casually for a few months, and by late autumn she had two solid job offers within easy commuting distance. Now, at 58, she’s considering spreading her work wings in a grander direction, and has already had one interview.

reverse mortgage newsClearly, this is not your mother’s career trajectory.

Whereas once upon a briefcase few employers would have given a second glance to the resume of someone less than a decade from retirement, today, with longevity creating an entire additional generation of life for many active adults, the 50s are prime time for companies to harvest talent at its peak.

Consider Alice Longworth, who says getting laid off at 62 was “the best thing that ever happened to her.” She decided to leave non-profit fundraising and start fresh in graphic design, something she’d always enjoyed. After taking courses at both the School of Visual Arts in New York and NYU’s School of Continuing Education, Longworth interned at age 66 (which makes the movie, The Intern, starring Robert DeNiro as a 70-year-old intern, seem not at all far-fetched), later landing two part-time positions that utilize her new skills.

Driven to Help

And as we explored in this post, Longworth is on the youthful side of the career reinvention spectrum.

With the advent of just-in-time services to rival traditional businesses, mature adults are also expanding the definition of what elder employment can look like. For instance, while two years ago we explored elder driving and when your reverse mortgage clients and prospects ought to consider relinquishing the keys, today older adults aren’t just requesting rides from services such as Uber and Lyft — they’re providing them!

Carol Sue Johnson, 73, is an Uber driver, one of a growing number of seniors who are augmenting their retirement income by getting behind the wheel on a part-time basis. Drivers are in such demand, in fact, that in 2015 Uber and Life Reimagined (a subsidiary of AARP) formed a partnership to recruit more 50+ drivers. Older drivers are prized because as a group they are careful, insured drivers who keep their vehicles in good repair, and tend to have fewer accidents than their younger cohorts.

And older drivers appreciate the freedom and flexibility, as well as the cash. Since they’re not depending on these ride services for full-time income, they can fit driving into their schedules, leaving them plenty of time to enjoy other activities while supplementing their Social Security or other sources of income (such as a reverse mortgage).

So however your still-spry reverse mortgage clients choose to spend their days, a part-time job that meets their needs may be the perfect way to reimagine work that’s a lot like play.

 

Golden Handcuffs: Why Loan Structure Matters

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The Overlooked Advantages of the Tenure Payout Option

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As the Home Equity Conversion Mortgage evolved rapidly in recent years it is fair to say our target demographic has substantially changed. The financial assessment was the capstone in HUD’s efforts to bolster the product’s financial viability for both borrowers and the mutual mortgage insurance fund. Today as we move toward more affluent borrowers we must exercise caution when suggesting loan payout options.

Ultimately it is the borrower’s choice but we cannot overlook the responsibility of full disclosure. Consider a qualified borrower wth a small mortgage payoff and a substantial net principal limit. This individual has shown a propensity to spend beyond their means and perhaps had several other debts. Such an individual is highly unlikely to utilize the strategic use of a line of credit for a standby reverse mortgage. In fact an open line of credit may be an enticing source of money to…

 

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

Why Saying ‘Yes’ is Hurting Your Business

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No May Be the Best Thing to Say…

We are in the people business. The business of selling, educating and assisting older homeowners get a reverse mortgage. As salespeople we love not only to hear the word “yes” but we love to tell our customers the same.yes-no-seesaw

Wouldn’t it be wonderful if every age-eligible homeowner qualified for a reverse mortgage? How about most? The advent of the financial assessment and other changes to the HECM program have collectively changed many of our yeses into maybes. Here are some reasons saying yes is hurting your business.

1. Resources. If you are still primarily attracting the needs-based borrower with few assets, a high mortgage balance and a checkered credit history you may want to help but you may be only hurting yourself and other potential borrowers. Time is one of the most valuable resources you have and if you spend it trying to qualify borrowers who are problematic you have robbed yourself of the opportunity to help qualified homeowners. Consider the time, the cost to your company to process and underwrite. It’s not about discriminating but marketing to the most likely borrower to qualify.

2. Credibility. Nothing stings more for applicants than being denied. Lest we forget, applying for a reverse mortgage is an emotional process. Be careful what…

 

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

The Retirement Gender Gap

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Income Disparities Create Retirement Shortfalls for Women

reverse mortgage newsWhile much political attention has been given to the income gap between men and women there is another sobering fact: women aged 65 or older are 80% more likely to find themselves impoverished in retirement than their male counterparts. While the retirement crisis reaches across the gender divide it is especially damaging for women. One contributing factor is that women typically live longer than men and thus will require a larger nest egg to support retirement says Diane Oakley, executive director of the National Institute on Retirement Security who penned the report.

“Shortchanged in Retirement, The Continuing “Challenges to Women’s Financial Future” outlines the specific hurdles women face and how the gender gap may further stymie women’s ability to plan for retirement. “Women are financially disadvantaged because we still earn less than men and we typically take time out of our careers for caregiving- both which reduce our ability to prepare for retirement,” writes Oakley in a written statement on the report.

 

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

Why Do You Do It?

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Why Do You Go to Work?

reverse mortgage newsIf you ask someone why they go to work you will get a variety of answers but one is most common…money. With the increasing complexity that comes with originating reverse mortgages it’s fair to ask the question, “why do I do what I do?’

Some may jokingly say “I owe, I owe, so off to work I go” when speaking to the reason they get up and go to work each day. Certainly each of us have bills to pay. While such a crass statement may be humorous the truth is the motivation of money falls flat for long term satisfaction, achievement and purpose. That leaves us again with the question, why do you do what you do? You see the key is repetition. The more we ask ourselves this the more likely we are to uncover the true motivations why we have chosen to work as reverse mortgage professionals.

In professions that present unique challenges you will most likely find the ‘mission-driven’ individual. These folks could work anywhere but know that they will only find satisfaction in working in a field that supports their inner desire to work toward a greater good. In our industry that mission is to…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

 

Wishful Thinking: HECM Costs & Financing LTC

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‘Wishful Thinking’: Lowering HECM Costs & Increased Loan Adoption

reverse mortgage newsIt may be wishful thinking on the part of the Long Term Care Financing Collaborative to think that further reducing HECM costs will increase loan adoption and opportunities to finance long-term care.

Reverse Mortgage Daily Columnist Jason Oliva addressed the assumptions of the Collaborative in his February 24th column which examines the possible role home equity should play when it comes to meeting American’s long-term care needs. Despite the fact that reverse mortgages open a myriad of possibilities for older homeowners by tapping an otherwise illiquid asset, some policy experts feel the existing product may not be adequate to address long-term care costs…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

 

8 Productivity Game Changers

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8 Ways to Unleash Your Personal Productivity

Beyond strategy, drive and opportunity is one factor that will build or destroy your success as a reverse mortgage professional. reverse mortgage news

Last week I read an article by Bruna Martinuzzi which captured the twelve productivity tips from extremely busy individuals. How do businesspeople who are at the top of their game manage their time? Bestselling author and speaker Brian Tracy says “personal productivity is a key differentiator between those who succeed in their chosen field and those who do not.” Here are 12 tips each of us should consider implementing or improving.

1. Single Purpose Focus. Pick one thing and just do that. Laser focus brings clarity, vision in our efforts to be the absolute best at what we do.

2. Block out distractions. Every distraction can cost you the ten to fifteen minutes it may take to get your mind back on the task at hand. Time block your calendar with your top priorities, lock the door when needed and turn off the email and phones periodically.

3. Create rituals. Before you leave the office determine what your top priority is for the following day. If you are time blocking it should be on your calendar. When you arrive the next morning accomplish that key task.

4. Early to rise. One of our most innovative and successful founding fathers Benjamin Franklin had it right when he said “early to bed and early…

 

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.