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Posts Tagged ‘Mortgage Training’

Congrats to me on Post #400

Thursday, August 6th, 2009

post by Sam Collins
blog

I can”t believe it, but this  is my 400th blog post on REMALO Blog.  The task of doing a daily blog is often laborious and sometimes very challenging.  

The real challenge  with a daily blog is coming up with  new, fresh, and interesting topics for your audience.  Finding  something about reverse mortgage marketing, training, sales, and educational information on a daily basis requires research and a lot of forethought.  This presents a daily  challenge  because the media and the market are in a continuous state of change and marketing messages and platforms are evolving as we speak and read this very second.

A reminder, you are not in the reverse mortgage business, you are in the marketing business.  It  is so important for you keep abreast daily and recognize the things that will help improve your business and increase your originations.   Did you know REMALO has the largest library of markeitng, sales and education material and it’s at your disposal 24/7?

So, I do want to leave you with  a question to ponder.  
“ If I gave you $10,000 today and said you had to spend it on growing your reverse mortgage business, could you tell me how you would spend the money?” 

I’d be intersted to  know the answer.   Just write a comment below or send me an email to sam@remalo.org

Remember, keep moving forward to stay ahead in reverse.

Reverse Mortgage - HECM Training by HUD

Tuesday, June 30th, 2009

post by Sam Collins
hud-seal

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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