Are you recommending a reverse mortgage only to have their financial advisor or planner dismiss getting a reverse mortgage? Alissa Prieto from Longbridge Financial shares the importance of reengaging with the professional and protecting your reputation.
There’s no substitute for being seen and known by local area professionals to drive more potential borrowers to you!
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A traditional mortgage broker called her saying “there’s just not enough money in the new reverse mortgage so I told her we can’t help”. Are your referral sources closing the doors to a potential client unnecessarily? Where do you begin? (There is no transcript for this episode)
Which is better to chase- lead sources or leads?
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Norcom has a business model that will fit your business model…especially after HECM changes begin October 2nd.
About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here
There are a number of enjoyable ways to build lasting referral relationships with professionals…
About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here
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To use a political analogy, reverse mortgages are the anti-establishment candidate. Long viewed as a loan of last resort, criticized for high costs and maligned by many consumer groups as being fraught with pitfalls the new reverse mortgage continues to push against the financial establishment for its place at the table of retirement options.
A recent article in the Retirement Income Journal outlines why many financial advisors and reverse mortgage professionals don’t get along. To be fairer let’s say ‘see eye-to-eye’. Yes, despite the numerous uptick of interest in the HECM within the financial planning community, most do not recommend nor consider a reverse mortgage according to the article. “As a practical matter, advisors who don’t have mortgage licenses can’t make direct commissions from a HECM or earn a finder’s fee for a HECM referral…
Download a transcript of this episode here.
Looking for more reverse mortgage news, commentary, and technology? Visit ReverseFocus.com today.
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an increase in referral phone calls from non-reverse banks and financial professionals. Many of these referrers had sent their clients to Wells Fargo & Bank of America based on their well known brand and geographic convenience. Today reverse mortgage originators have a unique opportunity to step in and provide an attractive solution for senior service providers. Many lenders are already seeing the phone ring from those who had referred to Wells & B of A in the past looking to remaining lenders.
