If your career as a mortgage loan officer has focused primarily on originating conventional or “subprime” mortgages, and you are now transitioning to reverse mortgages, there are several things to consider as you meet with prospective clients.
Are you looking to expand your reverse mortgage staff? If so, you should know the qualities and personality traits to look for in a successful reverse mortgage originator.
One of the challenges of being a loan officer is making sure a client fully understands how the reverse mortgages works and what the different disclosures discussed at application and closing mean.
Consider for a moment the following ethical scenarios and how you would respond.
Discover why you should be originating reverse mortgages.
Saying no is seldom easy, even if a situation warrants it. In the mortgage sector, that scenario plays out when lenders advise seniors who are banking on reverse mortgages to solve their financial problems that they should pass on a deal or say that it can’t be done at all.