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 readingThe Future of Aging Well
There is the matter of how societal expectations affect where older adults live, which makes the changing senior living landscape a bright field for the reverse mortgage industry. As we’re exploring, the desire to age in place is expanding into ever more creative ways to age in community, which may or may not mean moving from one’s lifelong residence to a smaller (or larger) home, a new area, a co-housing community, or a senior living community.
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 readingOn the Move — or Not
In 2015, retirees are fully embracing the old fast food commercial to “Have it your way” when it comes to how and where they’re choosing to retire. Many still opt to stay put, and renovate their homes to suit their changing needs. But there’s a twist: they’re not downsizing or remodeling with an eye towards growing older, but often upsizing.
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.
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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 readingListening — and Speaking — with the Ear of the Heart
Ever notice that the word “heart” contains both “ear” and “hear”? In order to really hear what your reverse mortgage clients and prospects are telling you, it’s essential to listen with the ear of the heart.
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.
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