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What Can Be Done Despite Delayed Loan Closings
You may be experiencing some frustration as of late. With the rapid pace of changes to the HECM reverse mortgage your loans may be taking unusually long to close. Processors and underwriters are being stretched to comply with new regulations and guidelines and your loan pipeline may be slowing at the end.
This is where backfilling your pipeline will be key to your success this year. This situation reminds me of the famous serenity prayer which reads “God grant me the serenity to accept the things I cannot change: courage to change the things I can: and wisdom to know the difference.”
When it comes to slowdowns you may be experiencing most of them are simply out of your control or sphere of influence. The good news is with time comes increased efficiency. Many lenders may be stretched now but will be adapting quickly to…
Download the video transcript for this episode here.
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