We need it as reverse mortgage professionals. Inspiration. Here are 20 amazing quotes from Sir Winston Churchill who inspired a generation faced with adversity and uncertainty enduring to final victory.
Continue readingNot Confused But Informed
Would a senior make perhaps the biggest financial decision of their life, with their largest asset in the midst of confusion and uncertainty and choose to take a reverse mortgage? Most likely not. But that was the impression the Consumer Financial Protection Bureau included in their required report to…
Continue readingAre you offended?
I can guarantee it will happen…you will be offended. Why? We are in the people business. It comes with the territory being a reverse mortgage professional. A borrower unhappy with a low appraisal or property condition, you upset with a loan condition, prospects who hang up or…
Continue readingConsumers Union to CFPB: Only as a “Last Resort”
Two consumer groups are urging the CFPB to make drastic changes to the revere mortgage program. Chief among them is a suitability standard and fiduciary duty. In the words of the Consumers Union they recommend that a reverse mortgage be a loan of last resort when there is no other viable option and…
Continue readingHow to get the most out of a conference
Whether you plan to attend NRMLA’s Annual Meeting in San Antonio or not here are some great tips to get the most out of any professional gathering, event or conference in the future. A great way to plan ahead.
Continue readingRequired Pre-Education?
Require Pre-Education Before Counseling? One groups suggested to the CFPB that a ‘third party’ provide upfront education about the reverse mortgage BEFORE the borrower get’s HUD counseling or meets with a lender. Who would these ‘third parties’ be and who would supervise them?
Continue readingRecalibrate
Recalibration. It’s key for moving parts to function at their best. Our days are made up of several moving parts. Here are some ways you can recalibrate your work life today.
Continue readingLiving Dangerously
Living dangerously? That’s exactly what millions of retirees are doing every day. How? By draining their existing savings account to meet living expenses or draining their nestegg to buy a home. It seems the norm for many senior Americans. Live on cash, don’t incur debt and keep your home free and clear. The issue with such thinking is that it leaves these individuals vulnerable to financial disaster.
Continue readingBecome an Expert
How to become an expert. Welcome to this week’s Friday’s Food for Thought. I just watched the movie Glengary Glenross the other night. The phrase ABC rings in my head…Always Be Closing. In other words we are always engaged in the process of selling, not so much a product but ourselves. One of the best ways to brand yourself is to establish your reputation as an expert.
Continue readingReverse Mortgage A Rite of Passage for Retirement?
Will Reverse Mortgages become the norm? According to one retirement expert getting a reverse mortgage may become common amongst future retirees. The shift to younger borrowers may be a result of more Americans reaching retirement only to wake up to the reality that their home is an essential and useful source of funds. The Consumer Financial Protection Bureau’s study…
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