Remaining Lenders Grow: August 2011 Top 100 HECM Lenders Report

reverse mortgage news

Download the August 2011 Top 100 HECM Lenders Report here.

Big Names disappear, survivors grow

It’s strange to no longer see the familiar name of Bank of America on the top lenders report. Wells Fargo remains because endorsements usually trail applications by 3-4 months so soon they will fade from the top 10. What’s most interesting are the large and medium lenders who have begun to grab some of the market share left in the absence of Wells & B of A.
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You can click to see our video on race for market share.

Many jeopardized by poor credit for NMLS renewals: Industry Leader Update

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NMLS license renewals may get dicey for reverse originators with challenged credit history

If the last few years have taught us anything it’s that mortgage and financial professionals suffered financially with other Americans due to the housing and economic crash. This leaves many qualified reverse originators at risk of not being able to renew their NMLS license Continue reading

Persistence: Friday’s Food for Thought Video

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1.  Identify Your Wants and Desires

If you don’t know where you are going, you will probably end up somewhere else.  – Lawrence J. Peter

List your desires both professionally (originations , income) & personal

2.  Determine Your Motivation

Why do you want to work as a reverse mortgage professional?
Help seniors? Solve problems? Focus on these motivators

3.  Outline Your Definite Action Step

More marketing?
A more detailed business plan?
Accountability circle?
Tracking sales activity (CRM, outbound calls)

4.  Keep a Positive Mental Attitude

Gas in the tank
Mental garbage disposal. Deal with the feeling and move on.

5.  Build Your Mastermind Group

No pessismists
Those who will be honest and hold you accountable
Creative poeople

6.  Develop Discipline and Habit

Discipline is the bridge between goals and accomplishment. – Jim Rohn

There will be a lot of hindrances that will stop you from moving towards your goal, and without proper discipline, it will be easy for you to sail away.

I wish to credit StepCase Lifehack for the above post. You can find the full article here.