A California-based closing services firm is attempting to make major inroads into the Home Equity Conversion Mortgage space by launching a new training program for notaries. The Closing Exchange released an online reverse mortgage educational program in October and began advertising in earnest last month, according to CEO Alan Frelix. So far, they’ve already seen […]
Category: Training
Training and onboarding set the foundation of a good employee, but without a solid personality and positive attitude, molding a successful loan originator can be a challenge. Reverse mortgage professionals can be unveiled in many types of individuals with the proper training combined with solid core values, says Mike Crossett, executive vice president at The […]
Since the implementation of new rules over the last year, reverse mortgages have been increasingly touted as being more viable retirement tools than they once were, requiring lenders to adapt their training processes to best serve borrowers in this new era of financial planning. While some lenders may have already been conveying the potential retirement […]
A lack of education is often blamed for the wide variety of reverse mortgage misconceptions that exist today. It’s also the reason why many other non-reverse industry professionals like Realtors and financial advisers balk at the idea of even considering reverse mortgages as potential solutions for their clients. Through a series of online educational sessions, […]
Following a major play in the reverse mortgage space last year, New Zealand lender Heartland Bank teamed up with U.S.-based reverse mortgage consulting firm Reverse Focus to help increase production, streamline sales and operational processes. And now it appears the collaboration has begun to yield positive results. In April 2014, Heartland Bank acquired the reverse […]
The Federal Housing Administration (FHA) later this month will offer a free training opportunity for reverse mortgage lenders on the key requirements of the Financial Assessment. On September 23, FHA will host a Financial Assessment and Property Charge Set Asides webinar for all industry stakeholders who are interested in learning more about these new Home […]
Editor’s note: Reverse Mortgage Daily will be observing the Labor Day holiday Monday, September 7, but we will return to our normal posting schedule Tuesday, September 8. In the meantime, all of us here at RMD would like to wish all of our readers a safe and enjoyable Labor Day weekend! In case you missed […]
Reverse mortgages are often misunderstood by the general public. As the industry strives to distance the reverse mortgage product from the “loan of last resort” reputation, ongoing education is critical not only for prospective borrowers, but also for the originators who work with them. Over the years, reverse mortgages have suffered from a negative reputation […]
The reverse mortgage financial assessment is arguably the most impactful product change in the history of the home equity conversion mortgage (HECM). While the financial assessment is adding new steps to the origination process, these steps can be used as a sales advantage. Join Reverse Mortgage Daily and ReverseVision on Wednesday, April 15 for a […]
After years of the Financial Assessment looming over the reverse mortgage industry, its delay has been met with mixed feelings—both frustration and relief. Some industry professionals welcome the delay in the regulation’s implementation, which the Department of Housing and Urban Development (HUD) recently announced would be pushed back to April 27, 2015, eight weeks after […]
