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Reverse Mortgage Business

Overcoming Fear In The Reverse Mortgage Business

How can we master fear and make it work to our advantage rather than unrealistically seeking to eliminate it altogether? Here are a few pointers: 1- Be conscious of what fears you have. Note specifically where fear seems to raise it’s ugly head.

Perhaps its outbound sales calls on the phone or asking for a commitment from a prospective reverse mortgage borrower at the kitchen table. Whatever they are write them down. 2- Find a hero. Not a perfect one just someone who you see as fearless…

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4 Comments

  1. Hi Shannon,

    Excellent motivational tool to start my day. Thank you for your work.

  2. I was scared to watch this, but it was good. ~grin

    Thanks Shannon.

  3. Why are the optimists in our industry talking so much about fear? I am a realist and it seems as if the market is maturing. They are called growing pains.

    It seems that each hiccup the industry has, there are waves of fear which flow through it. Rather than accepting the situation and addressing it, we hear calls of 100,000 endorsements or some other ridiculous response. We are so over the top that in 2007 and 2008 we had conferences focusing on how proprietary products would dominate the market by the end of the decade. When Savers came out, suddenly those products would equal Standard originations in a couple of years. Guess what never happened.

    It is clear that our time of freely helping those who never should have been “helped” is quickly coming to an end. Perhaps the days of putting “Aging in Place” so much in the forefront will finally end. That is part of growing up.

    The HECM portion of the MMI Fund is in a mess. FHA needs to get its act together and decide what HECMs are capable of doing and what they never should do. At that point all of the detractors will be upset because HECMs will no longer help the most needy. Perhaps that is how it should be.

  4. THANKS SHANNON ,,, GOOD AS ALLWAYS
    THE ONLY FEAR I HAVE IS EVERY CHANGE THEY MAKE HURTS THE SENIORS THAT NEED IT MOST AND OF COURSE OUR INCOME AS WELL


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