With fewer qualified leads comes the temptation to over promise just how long it takes to close their reverse mortgage. After all who wouldn’t want to promise a quick turn around when the prospect is shopping with several other lenders?
Continue readingFinding the Deeper Story
When your clients and prospects feel this level of connection and service from you, everyone will experience the joy that flows from “letting life live you,” says Shelton. It’s much easier than efforting — and will make you an even more effective HECM professional than you already are.
Continue readingAgainst the Grain?
For years we have heard both the promise and potential the retiring baby boomers hold for the reverse mortgage industry. While this potential and rapidly expanding market is somewhat tempered by increasingly high mortgage debt held by those 62 and older there is an overlooked niche within this group: the ‘mass affluent’.
Continue readingAre You a Grinder?
While watching the television show “The Shark Tank” I was struck by the hosts comment “you’re a grinder, aren’t you?”. A grinder is a business owner who makes growing their business a top priority and is willing to invest hard work, long hours and energy despite setbacks along the way…
Continue readingStep Up: Preparing for NRMLA 2014
Before you jet off to Miami Beach in a few weeks for the 16th annual NRMLA convention Nov 10-12, 2014 (or drive to the venue, if you happen to live in the area), it’s wise to prepare.
Continue readingPart 2: Exclusive Interview with Jack Guttentag
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Part 2 of our interview with Jack Guttentag: Rising Mortgage Rates and HECM Impact
In part two of our interview The Mortgage Professor discusses rising mortgage rates, proposed interest rate disclosure to borrowers, longer interest rate lock periods, industry preparedness for a rising interest rate market and more.
Visit the Mortgage Professor at www.MTGProfessor.com.
Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.
Tell Me a Lie if it’s True
We all know that lying is harmful and toxic and we should be honest in our dealings witn others; but what about lying to ourselves? This form of deception is especially harmful as we all can cut ourselves a deal, take shortcuts or even worse derail our plans for success.
Continue readingRetire? Bah, Humbug!
The time is ripe for reverse mortgage to play a grander role as a possible way to fund one’s elder years, since even part-time positions after retirement are unlikely to generate the income level needed to keep pace with the rising cost of living, or unexpected health care expenses that aren’t covered under Medicare.
Continue readingExclusive Interview with The Mortgage Professor
In part one of our interview The Mortgage Professor discusses the possibility of double-digit mortgage interest rates which have not been seen since the HECM program’s inception. We explore the industry impact, consumer awareness, disclosures and more.
Continue readingCircling the Wagons
Circling the wagons. It’s something our early pioneers did to protect themselves and their party from attack during their perilous journey to settle the western frontier. Not unlike the settlers we must take proactive measures to protect our hard-earned applicants from fear, doubts and mostly confusion during one of the most critical phases of reverse mortgage origination: the counseling process.
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