Indeed with the numerous delays and false launch of the financial assessment one could be left with a sense of uncertainty while trying to originate reverse mortgages. You’re not alone. Here are three tips to manage uncertainty today.
Continue readingEnhancing Communication / Part 1: Hear, Hear! Hearing Loss Can Be An Audible Problem
The Center for Hearing and Communication reports that 30-40 percent of people over 65 have some type of hearing loss. But younger people (perhaps even reverse mortgage professionals themselves) aren’t immune: 14 percent of those ages 45-64 also have some type of hearing loss.
Continue readingParsing Words
As industry watchdog and consumer advocate Atare Agbamu puts it “Fourteen words”. At the heart of the non-borrowing spouse debate and subsequent lawsuits brought agains HUD are fourteen words found in the original regulations of the HECM program as part of the National Housing Act in subsection J entitled “Safeguard to prevent displacement of homeowner”
Continue readingWhat the HECM Happened?
I’m sure I am not alone in thinking ‘what the heck happened to the reverse mortgage program’. It’s only natural to find yourself pondering this quandary if you’ve been originating federally-insured reverse mortgages four years or longer.
Continue readingSmall Shifts That Make a Big Difference
The Japanese call it kaizen: gradual, incessant improvement. Minuscule ongoing shifts can add up to a big win, just as a subtle shift in the words we use can affect how we view life.
Continue reading3 Weeks: Are You Prepared?
When it comes to how reverse mortgage loans are originated a line has been drawn in the sand: March 2nd, 2015. In two short weeks the long-awaited or dreaded Financial Assessment goes into effect forever changing the way HECM loans are qualified. This is a game-changer.
Continue reading10 Ways to Deal with Adversity
Unless you’ve been living in a magical and perfect world you have recently or currently are experiencing adversity. Relentless and numerous changes to the HECM program, the upcoming Financial Assessment and marketing challenges all can be noted as contributing factors.
Continue readingFirst Person: Awakening to Grief
“The utility of living consists not in the length of days, but in the use of time; a man may have lived long, and yet lived but a little.” We use our time well when we hold the hearts of those we serve, whether relatives, friends, clients — or strangers.
Continue readingM.O.E. An Alternative to HECM Foreclosures
This monumental policy change comes in the wake of several notable lawsuits brought against the Federal Housing Administration (FHA) and reflects the agency’s desire to close the door on further displacement of younger non-borrowing spouses. Let me begin by saying that this policy is somewhat complex and we will only be covering the primary guidelines of this new policy.
Continue readingPriming Your Sales Pump
When it comes to slowdowns you may be experiencing most of them are simply out of your control or sphere of influence. The good news is with time comes increased efficiency. Many lenders may be stretched now but will be adapting quickly to new policies and regulations decreasing processing and underwriting times.
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