Our industry recently broke a record for the number of FHA case numbers issued in the month of September. Yes, fear was a motivator, but what lessons can we learn from the 200%+ spike in reverse mortgage applications?
Wht saying NO will help you and your prospective borrowersHere are two specific instances when saying ‘no’ is your best choice as a reverse mortgage professional.
Even without the advent of a new year, are entering a new era of reverse mortgage lending. More financial professionals are embracing the product, a new administration will be taking office that seeks to curb the powers of the CFPB, and interest rates are certain to begin to increase. As with any new era we are faced with both opportunity and challenges. The question is, what are you going to do about it?
Wise mortgage professionals have mastered the art of letting go of what they cannot control, and instead, work on what they can influence. Generally speaking, you can quickly determine who the successful HECM originators are by their activity. Honestly, some need to let go of their hermit ways, and go out into their city and community and mix it up. If you’re not visible, you’re not thought of. Sound harsh? It’s true. Call it selfishness, or call it reality but we are all busy living our own lives so we rarely think about those we don’t see on a regular basis unless it’s our dear mother.
Sitting at the office, sending countless emails and waiting for the phone to ring will not grow your business in 2017. In fact, your business will shrink as modest interest rate increases make prospects with high mortgage debt ineligible. You’ve got to get out. More specifically, you must get out and mix it up. Consider for a moment the…
Download a transcript of this episode here.
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With the increasing complexity of the HECM and the Financial Assessment attempting to educate and close your prospects in the first appointment is akin to asking them to drink from a firehose.
Each of us may be reverse mortgage professionals, educators and evangelists spreading the word of the benefits that the reverse mortgage offers. However stripping all titles away we are truly salespeople in the business of matching prospective homeowners with a reverse mortgage when suitable. With this in mind each of us should examine our approach and consider are we asking for too much too soon?
In my early days of originating reverse mortgage the product was simpler: one product, one margin and fewer complexities. This often allowed me to take an application on the first appointment. Today, everything has changed. The sheer volume of information we should be reviewing in person or by phone in our first encounter is…
Download a transcript of this episode here.
Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.
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 readingProductivity. It becomes increasingly important as our work load increases, we push to fund more loans or seek advancement in our career. A recent article …
Continue readingWhile you probably care more about your business success in the next ten or twenty years than in the next two millennia, there’s still a “gospel truth” about sales that will ensure your business name will be remembered, now and in the future.
Continue readingAs loan professionals we often find ourselves not competing just on fees, pricing and interest rates but on service. All things being equal to your prospective borrower it’s not only the promises you make, but keep that can determine if you get the loan or lose it to your competition.
Continue readingAt Reverse Focus, we recognize the importance of keeping your website fresh. Our website template offers an incredible option for any originators who need a web presence. If you don’t have a website, be sure to check out this option – you have a great-looking, custom website online within an hour. See how here.
For our Members who do have a Reverse Focus website, we’ve added 3 new options to the header images you can choose from. Remember, you can check as many of the header images as you’d like and your website will display a different one of your choices each time someone comes to the home page.
If you have social media accounts (Facebook, Twitter or Linked In), we have an option to include links to your accounts as well. Just go to the Social Media section in your Manage area, check the options you want to display and add the link to your page/account. Make sure to test the link on you site to make sure it was entered correctly.
One final reminder is that we have a section where you can enter your NMLS# as well as indicate any accreditations you have to display these on your site (BBB, Equal Housing, NRMLA, etc).
I hope this helps you in your efforts to keep your website fresh and up to date!
Kurt
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This video covers some practical ways you can stand apart from your competition and also increase your sales this holiday season. Gratitude does attract more loans.
