[vimeo id=”133096294″ width=”625″ height=”352″] Loan Officers Torn Between Borrower Need & Product Restrictions After 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”.
According to a poll conducted by Reverse Mortgage Daily 12% of lenders anticipated a loss in volume less than 10% while more than half expected an impact of 15% or more.
I’ve often used the analogy that financial planners should treat their clients as a doctor would treat their patient. Gather the facts, find where it hurts and look to all possible solutions before prescribing a cure. Shouldn’t we do the same?
Today marks the beginning of a new era for the Home Equity Conversion Mortgage: the Financial Assessment. As you watch today’s episode you are faced with an entirely new set of guidelines to qualify prospective reverse mortgage borrowers...
Some people are not ready for a HECM loan. Some just don’t have a need and some are just downright dead set against the idea. Whatever the case may be carefully weigh how much effort to make in trying to overcome their objections.
[vimeo id=”125282391″ width=”625″ height=”352″] A Hassle-Free HECM or Long Term Success? Last week the Washington Post published an article entitled “Window is rapidly closing to get hassle-free reverse mortgage”. It is a well-written article outlining the change the financial assessment brings but more importantly it outlines the HECM program’s history
It is indeed the time to fill our pipes, pipelines that is. With any hardship, hurdle or challenge in business comes the temptation to lose momentum. Think of it as peddling a bicycle. It takes more energy to regain momentum once stopped than to sustain it.
The phrase beating swords into plowshares can be found in a biblical passage referencing the transition from war to peace. It is a fitting admonition for the reverse mortgage industry as we prepare for what we hope will be the finishing touches on the restructuring of the Home Equity Conversion