How to keep from losing your way

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Lance Armstrong’s recent admissions of cheating the system by using performance enhancing drugs. So what does this have to do with being a reverse mortgage professional? It’s a prime example of how one can lose their way in pursuit of their career. None of us are immune although any of our personal shortfalls are unlikely to end  up in the national media or have us being interviewed by Oprah. And let me say, the vast majority of you watching today are mindful of your principles. With the recent debate on whether Loan Officers appropriately placed borrower in standard fixed rate loans it begs the question: How can we keep from losing our way…both ethically and professionally? Here are a few points to ponder…

3 comments

CLIFF RIDDLE February 9, 2013 at 1:49 pm

AS ALWAYS YOUR RIGHT ON TARGET,,,,,,
IF YOU HAVE TO LIE TO SELL, IT IS THE SAME THING AS STEALING ,

Reply
Shannon Hicks February 11, 2013 at 8:13 am

Thank you Cliff for the kind words.

Reply
The_Critic February 11, 2013 at 9:49 am

Yet, Cliff, how do you feel about not covering all aspects of the loan? Is concealment any better than misrepresentation?

I have heard some well respected originators stand up in public and state that a subject is simply too difficult for the consumer to understand so even though it is not the right way, here is how to get around the understanding issue — all in the name of “education.”

Before throwing rocks one must look at the materials which were used to make her/his own house.

My favorite “story” in this regard is how FHA insurance makes a HECM non-recourse. I was so naive that for years I repeated that myth despite reading all of the loan docs several times and wondering why that was true.

Reply

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