To save you the cost of an all day event let’s look at seven ways we can be more persuasive in our daily business and yes, even our personal life. The following is from a recent article by Robert Locke.
Continue readingIs the Battle Over?
Is the battle over? HUD’s recent change to non borrowing spouse policy for Home Equity Conversion Mortgages is lauded by consumer advocates. June 12th may mark the end of the long fought battle between the Department of Housing and Urban Development, displaced borrowers and consumer advocacy groups.
Continue readingTransparency Needed for Improvement
[vimeo id=”130568897″ width=”625″ height=”352″]
CFPB Not Releasing Ad Data at Core of Recently Released Study
After releasing a consumer advisory and the results of focus group findings of reverse mortgage ads that were deemed misleading, ambiguous or difficult to understand to consumers and the media alike, the Bureau is less than forthright in releasing the data. After the release of the report numerous media outlets jumped on yet another negative reverse mortgage study. After all shouldn’t one trust a federal agency such as the Consumer Financial Protection Bureau? Yes, if that agency is fair and transparent in its findings.
Unfortunately that does not appear to be the case. In a press call last week industry representatives asked if the Bureau would make the ads used in the study available. The terse reply: they will not. Strange since the Bureau says they are committed to getting input from all parties to make markets more accessible and efficient for consumers. If that is the case then release the ads shown to the focus groups…
Download a transcript of this episode here.
Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.
Changemasters
There is a national professional group called Toastmasters that helps their members improve their speaking and communication skills. Perhaps our industry needs a ChangeMasters group. One centered on the key skills needed to adapt to the ever changing HECM industry.
Continue readingCFPB Report Says Reverse Mortgage Ads Misleading
The Consumer Financial Protection Bureau released the results of a focus group finding that many reverse mortgage ads are either inaccurate, confusing or misleading.
Continue readingA Damaged Name?
Do you ever feel prejudged as a reverse mortgage professional when interacting with the general public? It’s unfortunate but true: the words reverse mortgage have become synonymous with poor cash-hungry seniors, questionable loans and even the butt of jokes in some cases.
Continue readingExam Before Prescription
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?
Continue reading4 Lies We Tell Ourselves
There are a number of lies that we can easily tell ourselves about working in the reverse mortgage industry that will affect our outlook, performance and sense of well being.
Continue readingStill Ignoring Largest Asset
In the midst of such a crisis it is unfortunate that many financial advisors ignore the largest asset that could be used to fill the gap: the home. “Many households have a little-recognized asset that they could turn to for income in retirement- the equity in their home”, said Alicia Munnell, director of the Center for Retirement Research at Boston College.
Continue reading5 Reasons to Fire Yourself
Most working professionals fear one thing: being fired. Typical reasons for being fired center on downsizing, restructuring, market changes, personal conflicts and more. However, when should one consider firing them self? That’s right, them self. Sound strange? Perhaps. Examine each of these five reasons and see if any or all apply to you.
Continue reading