We are one third of our way through the year. It’s a brave new world in reverse mortgage lending. Beyond the headlines we see four major changes we should be preparing for…
Continue readingLife in the Technosphere, Part 1: Step Away from the Screen
In reality, our mobile devices are running (and potentially ruining) our lives, not the other way around. We are consumers to the nth degree; our insatiable hunger feeds on an exponentially multiplying array of apps and ways to use them.
Continue readingFebruary Top 100 HECM Lenders
Download your February Top 100 Retail HECM Lenders Report Here.
See how your company & your competitors’ overall HECM endorsements were for the month of February.
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New Products & Client Need
There is a new race in our industry. In the last three months we have seen four new fixed rate HECM product variants introduced. Innovation can be a positive force in our industry but it does come with its risks…
Continue readingThe New Longevity (Part 2): Turning Back The Hands of Time?
In the interim, the upcoming generation of reverse mortgage prospects is reinventing the concept of how and when to die. Just as Boomers have reinvented retirement from a time of withdrawal and relaxation to one of encore careers, they are reclaiming death from fear, pain, and suffering to a time of dignity and control.
Continue readingBack to Basics
If you look at the federally insured reverse mortgage one could say we have come full circle coming closer to the program’s original intent. What intent?
Continue readingThe New Longevity (Part 1): Gender Roles and Work
While women have always earned less than men for comparable work, senior women experience sexism just as much if not more than their youthful counterparts — and a longer lifespan doesn’t balance this equation.
Continue readingSocial Capital, Not Social Media, Is Key to Success
If social networks are information superhighways, social capital is the resulting value of these connections based on the relationships between senders and receivers — the degree of trust, friendship, shared experiences and “give-and-give” that surface over time…
Continue readingThe Young & the Restless
During a January 16th meeting of the National Reverse Mortgage Lenders Association’s Executive Committee, Deputy Assistant Secretary Charles Coulter said to expect a mortgagee letter in the coming weeks regarding non-borrowing spouses. Coulter said “The first ML will essentially require that in the case of a non-borrower spouse, the age of the younger member of the couple will be utilized to determine the appropriate PLF [principal limit factor]. HUD will be modifying the PLF tables to cover ages below 62 for this purpose.”
Continue readingBlind Spots
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Three Fallacies to be Avoided
Blind Spots, or better yet Biases. We all have them. It’s our brain’s ways of taking shortcuts in decision making. A hard wired yet often flawed response. Some may be good as they clarify and reinforce our beliefs and philosophy while others can be destructive. To improve our efficiency and position ourselves for increased success let’s look at three blind spots we should be aware of and avoid. Economically one of our most common blind spots or fallacies is the Sunk Cost Fallacy. Here’s an example…
Download the video transcript here.
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