Know Thy Customer

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Beyond Fact-Finding to Motivations

reverse mortgage newsThe traditional Home Equity Conversion Mortgage Transaction typically goes like this: potential borrower sees advertisement, homeowner contacts lender, loan officer gathers information, takes the application and the loan hopefully closes. In years past the approach generally was successful as many if not most of our borrowers had a substantial financial need motivating them to pursue the HECM loan in the first place.

Today that has all changed.

The recent enactment of the Financial Assessment has pushed the HECM more toward the spectrum of…

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Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

Procrastination Works!

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5 Keys to Successful Procrastination

reverse mortgage newsProcrastination. It is the one thing we are admonished to avoid at all costs in our professional and personal lives. Oddly a certain level of procrastination leads to increased productivity.

Quite frankly there are several things which we should procrastinate doing. Some productivity gurus refer to this as the tyranny of the urgent. In other words the task that drops right in front of you can tempt you to spin your wheels avoiding the important tasks of the day. .

Here are just a few ways for you to successfully procrastinate for greater productivity and personal satisfaction.

1- Social Media. While social media can be useful for making professional and personal connections it is also a major distraction. Rather than checking your Facebook status updates or LinkedIn feed every time your phone beeps schedule regular times each day to consume social media. Turning off audible notifications on…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

The Art of Happiness

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7 Steps to Finding & Keeping Happiness

reverse mortgage newsHappiness. It can be elusive at times especially during times of upheaval and industry change. Being a person who can tend to overthink the why, happiness can become the casualty of our internal thought life. Our internal thought life is key as I was reminded this week reading the short booklet I keep on my desk entitled “As a Man Thinketh”. One passage that particularly jumped out was “Circumstances does not make the man; it reveals him to himself”.

Here are a few nuggets of wisdom I found from my recent reading that I want to share with you.

1- Negative thoughts are just thoughts. Don’t believe everything you hear, even that voice in your head. The next time a negative thought enters your mind stop, capture and challenge it. Is it real? Is it likely to happen? Also don’t judge yourself harshly for negative thought but rather hold yourself accountable for what you do with them.

2- Create boundaries. Technology is great but it can also become an electronic dog leash…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

The Angst of Caring

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Loan Officers Torn Between Borrower Need & Product Restrictions


reverse mortgage newsAfter reconnecting with a friend who had reentered the reverse mortgage space after a year and a half absence I told my wife “you know what I love about the folks I work with? They are mission-driven”.

Most of the reverse mortgage professionals like those of you watching are mission-driven individuals. Certainly we want to succeed, make a good living and a healthy income but never at the expense of our mission to help older homeowners have a more comfortable and secure retirement. Being mission driven does have it’s downside: the angst of caring. Beyond the challenges of overlapping regulations, numerous product changes and the financial assessment is the frustration encountered when we simply cannot help those who don’t qualify.

I can recall hundreds times sitting in the kitchens of…

 

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.