The powerful lobying group AARP with it’s 38 million plus members has incredible clout in Washington DC. In a recent Senate hearing before lawmakers they suggested six changes to the federally insured reverse mortgage program.
Continue readingWhat’s Your AQ?
What’s your Adaptability Quotient? It’s something far more valuable than a high IQ in today’s reverse mortgage market…
Continue readingThe True Cost of Waiting
With HUD’s lowering of the expected rate from 5.5% to 5.0% in 2010 we have smaller window of opportunity for borrowers who may choose to wait…
Continue readingThe Rule of Three
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Maximizing our time outside of work
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Efficiency As A Reverse Mortgage Professional
Do you ever ask yourself where did my day go? Or Saying “I am just sooooo busy! Or… how do I get out of the rut I am in and better utilize my day? Many of us do. When it comes down to how we spend our day it boils down to two things: planning and choices. Planning ahead on our calendar for the commitments we have and making choices how we spend our down time.
Here’s how I use the rule of three in my planning. First I get a piece of paper and divide it into three sections. Sleep, Work and Things I Do.
The Return of Origination Fees
The formerly profitable Standard Fixed Rate HECM is gone and has left many lenders wondering where to recoup profits. An examination why loan origination fees will return and how loan officers can prepare.
Continue readingHow to Start Your Morning Right
Mornings. Most of us don’t like them because it may mean waking up tired and rushed. Here are 5 ways to start your mornings off the right way.
Continue readingReverse Mortgage Preppers
There is a very popular show on the National Geographic channel called “Doomsday Preppers”. While we are certainly not doomsday-res prepping for catastrophe we can prepare in part for changes to the reverse mortgage program expected later this year.
Continue readingFrom Selling to Serving
We are in the business of selling. One of my favorite definitions of selling is this. “Selling is aligning your product with what your customer thinks and needs”. It’s a powerful combination when you combine your customer’s needs with your sincere desire to meet those needs
Continue readingIs this a Silver Lining?
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Borrowers overwhelmingly choosing Standard Adjustable. Why?
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HUD says the reverse mortgage program is generating positive cash flow. That’s good for the short term but does not erase the future liabilities to the mutual mortgage insurance fund for previous years books of HECM business which is expected to result in claims for property values under the final loan balance and tax and insurance defaults. In it’s recent quarterly report to congress, HUD reports that the reverse mortgage program is…
5 Things Productive Workers Do…
Productivity. It becomes increasingly important as our work load increases, we push to fund more loans or seek advancement in our career. A recent article …
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