People toss around the phrase ‘aging in place’ but what does it really mean?
Continue readingWhat does aging in place really mean?
Part 2: Exclusive Interview: The Role of Traditional Lenders in HECM Lending
Part 2: Exclusive Interview with Dan Harder of 1st Reverse Mortgage USA
In the conclusion of our interview with Dan, we discuss the following:
- Is there a lack of demand for reverse mortgages?
- Why he believes traditional lenders will account for the majority of HECM volume
- The approach used in training forward loan originatorsDan Harder is vice president at 1st Reverse Mortgage USA, a division of its traditional mortgage lending parent company Cherry Creek Mortgage.
Exclusive Interview: Traditional Lenders Role in HECM Lending
Exclusive Interview with Dan Harder of 1st Reverse Mortgage USA
Two weeks ago on this show, we explored the premise that traditional mortgage lenders may provide substantial and much-needed growth for the reverse mortgage industry. An idea that flies in the face of what was once accepted as conventional wisdom by many who believed that ‘forward’ loan officers lacked the skill set needed for the lengthy and protracted process of originating being more accustomed to the transactional nature of a typical mortgage transaction. We thought it wise to reach out to someone who is an experienced hand in reverse mortgage lending who also has the unique position of working closely with traditional mortgage lenders. That would be Dan Harder, vice president at 1st Reverse Mortgage USA, a division of its traditional mortgage lending parent company Cherry Creek Mortgage.
Reverse Focus Weekly Podcast
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Are You a Success?
It’s not uncommon for each of us to feel like a failure from time to time. Even more so when we are faced with professional challenges outside our control we can easily begin to misjudge ourselves feeling worn down.
Continue readingDigital Edge
Most of us are aware that a growing number of seniors and retirees are online. From social media, web browsing and email our target market is online more today then ever before. The question is how do we leverage such a medium to keep our prospective borrowers engaged?
Continue readingSummer Special: Delicious Days Ahead!
Here are a few creative ways for reverse mortgage professionals to celebrate with seniors all year long: unusual monthly holidays that, with a little ingenuity, could be customized as ongoing marketing events.
Continue readingJust How Far?
Having conducted over one hundred training sessions with fellow reverse mortgage professionals a common question is raised. Just how far should I go in following up with a potential borrower? Unfortunately many stop after one attempted phone call or if the prospect shows any signs of disinterest. This is tragic since the the majority of homeowners we contact are not ready to jump on board, sign the application and schedule counseling during our first encounter.
Continue readingEvery Problem Once was a Solution
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What once worked may be problematic today
Oddly our topic that every problem once was a solution reminds me of the now extinct standard fixed rate HECM. It was a solution to borrowers seeking maximum funds or a guaranteed interest rate which became a problem loan for FHA when assessing risk and performance. This is a prime example of how behaviors, business models or marketing may become problems once they are not up to date anymore. On a personal level we can become angry with ourselves wondering why we act a certain way in a given circumstance. On the surface it may appear to be irrational. But is it? It’s not so much that a current behavior or pattern is irrational but rather that it no longer works. What was once a solution is now a problem.
You may have adapted a new strategy or way of doing business based on…
Download video transcript here
Looking for more reverse mortgage news, training & technology? Visit ReverseFocus.com today.
How to Use Social Media for Marketing in 2014
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Social media has come of age. If you’re promoting your reverse mortgage business through traditional methods only, you’re missing out on important connections. Your target audience may not be active on Twitter or Pinterest, true. But their children or other relatives likely are — and in any case, it makes good business sense to have a presence on diverse platforms in order to enhance public awareness of the reverse mortgage field, inform people about the benefits of a HECM, and correct misperceptions.
Here are a few tips to help you generate the publicity your business deserves in 2014, courtesy of this eBook from Publicity Hound, which you are welcome to re-gift.Â
- Press Release 2.0. New media needs to be integral to your public relations efforts. In 2014, a release must include preconfigured sharing tools (such as “Tweet this”, which will automatically Tweet content of the proper length when clicked), short, mobile-friendly headlines, and, ideally, a link to a YouTube video. (YouTube is the platform of choice if something is share-worthy, and is fully compatible on many different platforms and devices.) A photo gallery and integrated social commenting are also de rigueur. Most important of all, however, is a network to distribute your content, so take time to build your social community, both online and off.
- LinkedIn Company Page. Unlike other social sites where self promotion is often considered bad form, LinkedIn provides the ideal platform for this purpose: Company Pages. One of the advantages of Company Pages is that anyone can subscribe to your updates, even if they’re not connected to you, making it a great vehicle for potential clients, bloggers, and those in complementary fields (such as financial planners or elder law attorneys) to learn about HECMs and get in touch.
- Blogging By the Numbers. One of the best ways to get people to read your blog or Facebook post is to start it with a number: 7 Ways Your House Can Save You Money, or 5 Steps Smart Seniors Take Every Winter. These “tip sheets” are popular with readers and the media alike. Make sure the information is meaty but short, and share the link widely, depending on which social sites you have the strongest presence. With luck and perseverance, your posts may even go “viral” and spread like virtual wildfire.
- Promote Real-time Events Online. If you’re planning a year of fun and unusual holiday celebrations (Ho-Hum January), this is a fabulous, ready-made social media item for the entire year. Each time you prepare for a “holiday” gig, post an engaging notice about the upcoming event on all your social outlets: Facebook, LinkedIn, Twitter, etc. Even if the people who read it live too far away to participate, they can help network the information — which can lead to new leads and potential business for you.
***Remember: always check with your compliance department before deploying any social media campaign***
Looking for more reverse mortgage tools, training & technology? Visit ReverseFocus.com today!
