Meeting Today’s Challenges Is Nothing New This Is a Great Time to Focus on Customers By Steve Irwin, President, National Reverse Mortgage Lenders Association THERE IS NO question our industry has faced a set of disruptions that have seen market participants exit the reverse mortgage space and others consolidate into different and unique entities. While I do believe the macroeconomic conditions will continue through their own cycle, we must remind ourselves that now is the time to renew our commitment to customers and our community. The commitment to customers will require us to close performance gaps where performance as perceived by the customer does not equal the performance expected by the customer. It is incumbent on us to properly set customer expectations and ensure service delivery exceeds those expectations. This focus will mitigate reputational risk and help ensure the longevity of our unique product offerings. These expectations must be set across the entire life cycle of the borrowers’ and trusted advisers’ experience—from counseling to application, processing to closing, onboarding to servicing, to delicate end-of-loan issues. The commitment to our community will require us to keep all channels of communication open, broaden and strengthen our commitment to educational opportunities and continue our advocacy on behalf of our members and the senior homeowners you serve. We will work to strengthen and broaden our committee participation and activities; host webinars on topics our members consider critical to their businesses; and stay in front of the agencies, regulators and legislators who oversee the space we operate in. Yes, these past several months have been challenging and trying. But we will come out of this stronger by working together, strengthening our community and renewing our collective commitment to the customer. Your association is ready to meet these challenges and work with you to effectively strengthen our solidarity and manage our collective success. Steve Irwin Moving Forward “Good products can be sold by honest advertising” —David Ogilvy, founder, Ogilvy & Mather 4 REVERSE MORTGAGE / MARCH-APRIL 2024
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