Reverse Mortgage Magazine Nov/Dec 2022

“That is where the loan officer really matters,” Wills says. When dealing with older clients who might not be great with digital communication, it doesn’t hurt to send along some self-addressed and stamped envelopes for them to send lingering documents back. It might take longer than an electronic form of communication, but you know it will be done, she adds as a tip. “Ideally, you are going to have communication all through processing, and you can decide how much—once or twice a week— but someone should be in touch.” Appraisal Through to Closing Loan officers also shouldn’t assume people will understand the appraisal process, which requires explaining how appraisals work and how loan officers cannot directly influence the appraisal reports. Simply pointing out that the appraisers will be poking into all corners of a house—from the basement to the attic—and taking pictures can take the stress out of the process for clients. Some of the panelists advise clients to say as little as possible, while pointing appraisers to clear improvements to the property, such as high-tech heating or cooling systems. They also advise people not to point out defects. When the clear to close determination comes through, loan officers need to make sure they explain that process, too, agree the experts. Loan officers should coach clients on verifying the time and date with the notary and providing a list of documents that will be needed, such as valid identification. Loan officers also should take the time to review and verify all the numbers so there aren’t any surprises during closings. Loan officers also should be available during closing in case there are questions, especially if the closings are at night or on a weekend. Another suggestion was to follow up after closings to ask the clients if the notaries were professional and courteous, information that can inform whether a notary will be used again in the future. Stay in touch with the client, they all agree, even after the loan goes to servicing. “That way it helps us; it helps the customer and helps everybody have a good experience,” Wills says. Nationwide Property Inspections and Preservation Inspections Preservation Insurance Loss Inspections REO Services Violation Management Utility Management Vacant Property Registrations Foreclosure Registrations Special Services Protecting Your Properties. Protecting You. • NFROnline.com • 800-639-2151 REVERSE MORTGAGE / NOVEMBER–DECEMBER 2022 31

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