Top producers have broken free from the old way of doing business
Habits are there for a reason. They bring us comfort with their predictability and yet are often the root of our frustration. Ironic? Not so much. Chalk it up to human nature, and in many cases, it’s the usual way of doing business. There’s no denying that the established market for the HECM has been fundamentally transformed. A loan that once was best-suited to the needs-based borrower that is house-rich and cash-poor has become increasingly difficult for financially-challenged homeowners to qualify for. Today we examine the habitual approaches to marketing and communication with homeowners and how some have broken free from old habits to open new doors.
Those in the habit of focusing their efforts on the needs-based borrower are most vulnerable in a contracting HECM market. Yet some are finding creative and viable strategies to attract qualified reverse mortgage borrower…