I have been in lending for over 30 years and for the last 17 of them, I have been specializing in originating Reverse mortgages to seniors throughout Central and S. CA.
In the period of time that I have been professionally involved, I have seen a plethora of competition evolve, trying to “capture the market” and many of them failed to understand why working within the senior community isn’t about “sales” but trust.
I have heard the experiences of some of the counselors from HUD approved counseling agencies, how they are pressured by a Reverse loan sales agent to rush through the counseling, so that they can quickly get an application into a Lender.
I have one word for this kind of behavior.
No actually I have two.
Obnoxious and unprofessional.
Many of these companies gave up after they discovered the difficulty in originating any business and the also found out that it was very unlikely they would be funding enough of them each month to make their own business profitable.
And what has developed in this period of time, is a type of sales person in a Call Center that a consumer either responds to through an Internet ad or one of those television ads and I decided that it was time for me to share my thoughts about this method and how a senior can educate and research for information about the FHA Reverse loan without being overwhelmed by solicitation.
This resulted in an article that I will begin to posting here in my blog, beginning with the next one.