Single out most any neighborhood in America and even a casual drive around will feature foreclosure signs.
Perhaps the most important aspect of customer service is the first impression a reverse mortgage customer has of you.
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.
Whether you are an industry veteran or a newcomer to the reverse mortgage business, one option to stay ahead of the competition is to seek advice from a marketing specialist who can help you grow your business more wisely.
You should know the proper way to interact with a senior client from the moment first contact is made to when the last loan document is signed at the closing table.
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.
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.