Overcoming Shock

Any massive industry change that effects our business can lead to a variety of symptoms: fear, helplessness, anger, sadness or paralysis. That is to be expected. The question is how can we as individuals overcome our state of shock. Now here are a few things …

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What if they move my cheese?

With expected yet unknown changes to the HECM program, FHA may ‘move the cheese’. In today’s risk-adverse environment FHA is focusing on the fixed rate product. Publically they are concerned if it serves the HECM program’s original intent and purpose. But privately one could speculate that the full lump sum withdrawals of the fixed rate are seen as increasingly risky loans to an already underfunded MMI fund.

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Attitude Adjustment

What if it was as easy as ‘flipping a switch’? There are many things that can affect our attitude. Many have expressed to me their concern about future changes in our industry. Will the changes be tolerable? Will it decrease the pool of qualified reverse mortgage borrowers?, etc. etc. It can be tough if we become consumed with these things.

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