Over the last several years we have seen HUD reshape the landscape of reverse mortgage lending. Reduced principal limit factors, first year distribution limits and the upcoming financial assessment leave some wondering if we will be able to serve senior homeowners who will truly need our services…
Continue readingJust How Far?
Having conducted over one hundred training sessions with fellow reverse mortgage professionals a common question is raised. Just how far should I go in following up with a potential borrower? Unfortunately many stop after one attempted phone call or if the prospect shows any signs of disinterest. This is tragic since the the majority of homeowners we contact are not ready to jump on board, sign the application and schedule counseling during our first encounter.
Continue readingWhat Do You Believe?
Our internal beliefs can go largely unnoticed except when evidenced by our actions or outcomes. Even more so our beliefs determine our level of happiness, something we all want more of in our lives. Our personal and professional lives often deal us multiple blows often all at once.
Continue readingHow to Deal with Change
If there is one thing most reverse mortgage professionals are grappling to deal with it is change. Some changes are positive while others can ratchet up our stress level and create professional hurdles to be overcome.
Continue readingThe Art of Saying “No”
We were often taught by school, society and others that saying ‘no’ is rude, impolite or obstinate. But is it? The art of knowing when to say no is key to establishing personal and professional boundaries that protect our focus and productivity.
Continue readingHarnessing the Winds of Change
A Chinese proverb admonishes “When the winds of change blow, some people build walls and others build windmills.” More than ever before we should ask ourselves if we are building walls to protect against the evolution of our industry or are we preparing to harness the momentum of change?
Continue readingStand Apart
Competition is up and volume is down. We’ve been here before as an industry so the real question is how will we differentiate ourself in the marketplace?
Continue readingWhen You Feel Like Giving Up
From time to time we all can feel like giving up, throwing in the towel and walking away. It may be the challenges of our profession, a relationship or business venture.
Continue readingEvery Problem Once was a Solution
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What once worked may be problematic today
Oddly our topic that every problem once was a solution reminds me of the now extinct standard fixed rate HECM. It was a solution to borrowers seeking maximum funds or a guaranteed interest rate which became a problem loan for FHA when assessing risk and performance. This is a prime example of how behaviors, business models or marketing may become problems once they are not up to date anymore. On a personal level we can become angry with ourselves wondering why we act a certain way in a given circumstance. On the surface it may appear to be irrational. But is it? It’s not so much that a current behavior or pattern is irrational but rather that it no longer works. What was once a solution is now a problem.
You may have adapted a new strategy or way of doing business based on…
Download video transcript here
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File It & Fuggetaboutit
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Keys to Mastering Your Paperwork
Fuggetaboutit! It’s the quintessential New York phrase made famous in films like Donnie Brasco, Good Fellas and the Sopranos to name a few. While there are many definitions of the phrase the most common is to let go of an issue or problem not worth the additional mental or emotional energy. When it comes to managing our work day perhaps this is a phrase we can adopt. File it and fuggetaboutit! Most of us as reverse mortgage professionals manage vast amounts of information: Call backs, applications, conditions on a property, booking a speaking venue, ordering leads and more. Quite frankly we cannot manage these tasks efficiently without a system. One system I have grown to love over the years comes from productivity guru David Allen in his book “Getting Things Done”. Allen describes a system of 43 folders. One manila folder for each day of the month (31) and one for each month of the year. It works like this. You receive a form in the mail today March 28th that needs to be mailed back by next Friday. You simple put the paper in your folder marked the 31st or 1st. Fuggetaboutit! As each day of the month comes you pull the file out for that given day. Guess what?
