2009 June | REMALO Marketing Blog

Archive for June, 2009

Reverse Mortgage - HECM Training by HUD

Tuesday, June 30th, 2009

Today, I attended a webinar, wherein the Denver HUD office presented a great HECM Training session. The training program was suitable for loan officers, lenders, managers, processors, and brokers correspondents.

There was some interesting information dispensed. The HUD training team did an excellent job and dispensed the information in an efficient and understandable method. The most noteworthy information was that “Gifts” are now allowed for HECM purchases. This is indeed a pleasant addition to the HECM purchase program. There also were many resources given on the webinar. The average age of borrowers today doing a reverse mortgage is 73, the average appraised home value ws $239,400 and as suspected 89% of senior clients opt for the line of credit payment option, while 4% are tenure, 1% are term, and 3% are a combination. The HECM Arm option is the most popular. I also learned that the monthly HECM ARM caps are determined by lenders.

Copies of the two power point presentation are posted on REMALO for your review.

Remember, keep moving foward to stay ahead in reverse.
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Welcome to July…CLICK HERE to see our Calendar of Events for July 2009

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Tags: Arm Caps, Borrowers, Calendar Of Events, Correspondents, Credit Payment Option, hecm, Home Value, Hud Office, Job, Lenders, loan officers, Mortgage Training, Power Point Presentation, Processors, reverse mortgage, Sam Collins, Tenure, Training Session, Understandable Method, Webinar
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Dedicate yourself to personal development

Monday, June 29th, 2009

post by Sam Collins
prelimnary-review

Are you dedicated to personal development?

If you are dedicated to personal development there is no tell telling just where it will lead you in life. Your goal should be to climb higher than where you are now and may have believed possible.

Your personal goals can include not only business, but personal goals. When you develop a combination of the two, you are likely to live a happier and more balanced life. You may be thinking, “I’ve heard the goal setting story before.” Admittedly, personal development is something that is an ongoing task and we all need reminders.

Here are some steps to use along the way for your own personal development:

1. Develop a plan for growth:
The whole process starts with a plan and continues forever. The plan must be written and it must be specific. You must remind yourself of the plan.
      a. Identify the top areas you want to develop. Base this on your dreams and goals. Keep your    list limited to no more than five to start.
            1.
            2.
            3.
            4.
            5.

b. Plan time to grow. Take time to find time to work at least one hour a day on your plan. Simply, getting up an hour earlier could be the answer. I’ve never had any luck with the late night hour.

2. Create an atmosphere to foster growth:
     a. Show the world you wish to display some sort of personal growth.
     b. Do something unusual that is out of the norm for you.
     c. Determine a future benefit your changes will have on you in days to come.

3. Associate with successful people:
The old saying “birds of a feather flock together” holds true when it comes to you meeting goals. Relationships both personal and business are major keys to your growth.
     a. You may want to find a mentor.
     b. Make time to talk to your highest producer and determine their secrets to success.
     c. Have someone you can share your inner self and thoughts.
     d. Read and join in educational and self promotional events.

For me, I consider my growth is just beginning. I know there are many goals and things I want to accomplish on my path to personal development. I admittedly have to stay constantly challenged and reminded to stay the course.

Good luck in your journey of life and achieving your desired happiness in that development.

(Here is another article that may help you: Click Here)
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See our next months calendar of events, posted for July.

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Tags: Balanced Life, Dreams, Mentor, Personal Development, Personal Growth, Relationships, reverse mortgage loan officers, Sam Collins
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Teamwork is esential to success!

Sunday, June 28th, 2009

post by Sam Collins
team-building

Can you remember during your younger days playing a sport? Be it basketball, baseball, lacrosse, soccer, or whatever you liked and getting to practice to find out the coach did not have a ball. You might scratch your head and wonder what kind of a coach is this. Such was the case when I coached soccer.

When I coached soccer, sometimes we would leave the ball out of the practice. The idea is simple. You might have eleven guys on the field, but only one is going to touch the ball at even given time. So, the dilemma is simple. What do the other 10 guys do who not have the ball do? Their job is to set plays and be where the ball is not. When you work as a team this strategy opens up opportunities and allow you to score more goals than your opponent.

Teamwork is so important in our lives, because no matter how good you are at something, you can’t do it all. Often I am asked how I can accomplish the things I do. My secret is this: I have a team. Yes, I have a team of folks who help me get things done quicker and more effectively. The important thing is the execution and making sure everyone is on the same page., (same team). Having a winning strategy will allow you to survive our competitive world?

Most originators work independently and do not have a team. I challenge you to develop a team and it can be done without having someone in your office. Yes, you can hire a virtual assistant. Here are two great resources: http://www.elance.com and http://www.guru.com.
The neat part is it doesn’t cost you anything to test the waters. For example, let’s say you want some help following up on your leads or maybe calling old leads. Put a listing on elance or guru. You’d be surprised to find there are many stay at home folks who are just waiting to earn some spare change. The resutls you get by building a team will more than pay off in additional time leveraged and additonal profitable business for you.

Remember, keep moving forward to stay ahead in reverse.
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Checkout 10 Techniques for Effective Delegating

Next Months Calendar is packed: Click here

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