Yogi Berra said ‘the future ain’t what it used to be”. One of the biggest challenges any industry, city or individual can face is to embrace the reality that things will never be like they were before and look for new ways to succeed in the new normal of doing business.
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Success is not a zero sum game. Would you be willing to share what is working for you in attracting and closing more loans despite recent changes to the reverse mortgage? You can remain anonymous or request that we use your name. Either way, your inputs are appreciated and will help your fellow originators across the country. Submit your ideas here.
Email John today to be on the list for Norcom’s upcoming National Sales Training webinar…
About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here
Download your April 2018 Top 100 Retail HECM Lenders Report Here.
Our nation’s capital is often referred to as the swamp in part for its political factions, bureaucratic battles and interagency turf wars. Recently two U.S. senators recently vowed to block any nominees for several key vacancies at the Department of Housing and Urban Development. Senators Tammy Duckworth and Dick Durbin-both Democrats- vowed to put a hold on all HUD nominees, including the appointment of Brian Montgomery as Commissioner of the Federal Housing Administration. The Senators sent a letter to HUD earlier this month requesting a response no later than April 18th.
“As long as hundreds of Illinoisians’ lives are stuck in turmoil because of rash decisions that HUD fails to effectively or fully explain, I will object to every nominee Donald Trump sends our way,” said Senator Duckworth. Some of the agency’s current vacancies include the FHA commissioner, secretary of policy development and research, and the secretary for public and Indian housing.
At the root of the debate is HUD’s recent announcement to close two public housing developments in Thebes, Illinois. The agency said they do not have the funds to fix them. What most don’t know is that HUD does not directly manage public housing properties but rather relies on local housing authorities. Enter the Alexander County Housing Authority. In early 2016 allegations surfaced of…
Critical thinking is key for HECM professionals to overcome common issues in their business. Occam’s Razor may be just the approach you’ve been looking for…
Our collective experience as reverse mortgage professionals shapes our perspective. Much of that perspective in recent years was influenced by falling endorsement volumes. The reverse mortgage industry posted a record 114,000 endorsements in 2009 just as the housing and economic crash began in earnest. Consequently volumes plummeted with housing values. In the years that followed, endorsement declines were commonly attributed to increased relegation and product changes. But what perspective can we gain when looking at our industry’s growth in the last decade?
James Veale is a numbers guy. Not surprising considering his extensive work prior to originating reverse mortgages as a Certified Public Accountant with a Masters in taxation. In his recent column published in Reverse Mortgage Daily Veale writes, “During the last decade, the industry produced more than twice as many endorsements (707,915) as the total endorsements for all fiscal years that preceded it (346,177). We not only saw the 500,000th endorsement in the last decade but also the 1 millionth.”
As a frame of reference, let’s review previous HECM marketing efforts.The summer edition of Reverse Mortgage Magazine published by the National Reverse Mortgage Lenders Association (NRMLA) touted 2017 as the ‘30th anniversary of the HECM’. In its first decade, the HECM was a relative unknown to older homeowners. That quickly changed in the mid-2000’s when big bank lenders such as…
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Most American workers struggle to keep their home and work lives separate. Certainly there’s some validity to that point of view, yet the two are inexorably linked. How so? Consider that your bad habits at home may be setting you up for failure in the workplace? Here are a few examples and how we can change our habits at home to increase our success.
Lack of sleep
The vast majority of Americans suffer some level of sleep deprivation. Sadly this leads to a host of problems such as weight gain, health issues, poor focus, and depression. What can you do? First, if you use your phone as your alarm (sorry Alexa) set it across the room. This avoids the temptation to hit snooze. Also, understand that your sleep cycles are about 60-90 minutes long. This means every time you hit snooze and wake up 20 minutes later you are waking up mid-cycle which makes you feel groggy. Just as you schedule your activity at work try creating a regular time you go to bed. Your co-workers and family with thank you.
Skipping workouts
Many employers have realized that regular exercise results in increased work productivity and have chosen to…
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Email John today to be on the list for Norcom’s upcoming National Sales Training webinar…
About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here
Virtual reality shows great promise as a tool to help both dementia sufferers and caregivers…
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