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TRAINING CONFERENCE CALL SUMMARIES

7/8/2014 - Marketing, New PLF's, lender approvals, Current LIBOR index, recruiting, ReverseVision, website tools.

 

7/22/2014 - New PL date 8/4,  Financial planners, current index, scanning applications, checklist, Marketing

 

8/4/2014 - NBS issues, lead letters, dealing with competing LO's, sample reverse scenario, disclosures in RV

 

8/19/2014 - New FHA required verbiage in marketing, social media marketing, dealing with client's children, RV uploading

 

9/2/2014 - Senior statistics, selling the HECM, non-detached properties (condos, townhouses, etc)

 

9/16/2014 - Lead programs, unforseen circumstances for seniors, determining value estimates, RV tips and procedures

 

9/30/2014 - RV article, assessing interest levels, asking the right questions, MCR's and what is needed, advertising and marketing material

 

10/14/2014 - Recruiting, lead programs, web tools

 

10/28/2015 - Docs not printing from RV, POA's and Guardians, address verifications, HECM to HECM refis, Verify RV doc printouts, settlement service providers disclosure, REO

 

11/11/2014 - Missing RV disclosures, processing issues from supplied docs, questions for processor and answers for clients,  Home Safe program (jumbo program), loans during the holidays

 

11/25/2014 - CE requirements & discount program for SFI,  Financial Assessment rules primer, new seasoning requirements, when to order appraisal and risks, processing review - what happens start to finish

 

12/16/2014 - Handling paper version of applications, preparing for the new year, verify loan app docs before seeing client, collecting supporting information, payroll, compensation rules on fixed rate loans

 

1/6/2015 - types of clients & how to communicate with each, scanning and application size (MB)

 

1/20/2015 - mail out apps and going over it on the phone with client, MCR's due now, handling objections, how to turn little monthly numbers into bigger yearly numbers that have more impact

 

3/3/2015 - update on Financial assessment rollout, past clients, check weekly margins, adding borrower signature to closing cost worksheet, ID and SS names and addresses must match property address

 

3/17/2015 - Manufactured homes and condos, multi family homes, estimating realisatic property value, don't forget signatures on closing cost worksheet

 

4/7/2015 - prepare for FA, cutoff date for pre-FA case numbers, Zillow home values under 100K are unreliable, creating the applicatiuon in RV

 

4/21/2015 - Financial Assessment presentation (audio)

 

5/5/2015 - Using FA worksheets, no need to add more thasn is needed on income sources, HOI: dec page may not be enough, contacting the processor

 

5/18/2015 - extenuating circumstances, handling the LESA, dealing with client's who are shopping loans and claim they can get more money, verify CAD has vesting names correct, that is what is what will be on tax cert

 

6/2/2015 - Uderwriting times are increasing, AARP survey, scrutinize late payemtn circumstances, getting preliminary FA approvals, FA prequal form, FA income cheat sheets,

 

7/21/2015 - results from first FA loans, 24 month tax payment history, 12 month insurance payment history, prior dec page required, all FA docs and income must be submitted even if a LESA is required, LOE's for lates still required even for a LESA, estimating time to process loans is strongly discouraged

 

8/25/2015 - 3rd review of FA checklist, bank statements (all pages required, even when blank), acceptable proof of SS and retirement income, 1099 addendum, ID's, Tax returns (all pages), appraisal payments (prepare client to need to pay before loan closes), compliancxe issues, where to find uploaded docs in RV

 

9/15/2015 - Updated submission checklist, SFI Privacy Policy, Review of Application docs that were out of compliance, Forward Mortgage record keeping, Update Texas Non-Borrowing Spouses, Borrowers without hazard insurance, Missing docs have been corrected in RV.

 

9/29/2015 - New sales Model after FA, Strategies for building a network of financial planners, Alternative lead sources

 

10/14/2015 - Recruiting LO's & overrides, Lead programs, web tools

 

10/28/2015 - Loan app missing disclosures, Loan using a POA or Guardian, Address accuracy importance, HECM to HECM refis

 

11/3/2015 - REO properties and reporting requirements, Recruiting LO's and docs available, LOE's, tax deferments, CE Instructor, social media

 

11/23/2015 - FA Pre-qualification        11/23/2015 Con ference Call Audio

 

12/8/2015 - Reverse Mortgage Daily articles, eliminating Medical collections, Holiday loan originations, selling under FA, checklist for supporting information and documents at application

 

1/5/2016 - Financial Planner Strategy, utilizing articles from Reverse Mortgage daily, New underwriting requirements that have come up under the Financial Assessment guidelines          1/5/2016 Conference Call Audio

 

1/26/2016 - Networking and developing affiliations, Technicals of getting the numbers right in RV, Best way to contact processing

 

2/9/2016 - Identifying client types and how to communicate with them, Best Processor contact methods, TRID experiences (forwards)

 

3/17/2016 - Review of Supporting Info & Document Checklist, Steps and needs when taking the application, LO Checklist for stacking and verifying application & docs, What happens when loan enters processing (steps)     3/17/2016 - Call Audio

 

4/5/2016 - Soliciting Mortgage Brokers and forward LO's, Utilizing Reverse Mortgage Daily, Credit Pull Authorization Forms, GFE delivery rules (IMPORTANT)      4/5/2016 Call Audio

 

4/21/2016 - New Fiduciary ruling for financial planners and advisors, HECM for Purchase pointers and marketing, Explanantion of the HUD revised GFE and HUD1 settlement statement, Using RV Notes section (review all docs uploaded)     4/21/2016 - Call Audio

 

5/10/2016 - NBC Nightly News video link, Utilizing videos in the Reverse business, Youtube basics, Suggestions to clients on anticipated cash needs 30-45 days after closing on a LOC loan, source ands seasoning requirements for lien payoffs just before loan app, HOI coverage calculations and how increases are handled.        5/10/2016 Call Audio

 

6/14/2016 - Important points for financial planners (see link to docs below)

Doc 1: Article--6 Reasons to receive a RM--Pfau

Doc 2: Article--Pfau--Advisors Need a Fresh Look at RM

6/14/2016 Call Audio

 

7/26/2016 - Changes to0 Credit Analysis and easing of credit requirements, If tax returns are required, review then up front - NRMLA & HUD rule proposals, Alternative networking sources.

7/26/2016 - Call Audio

 

8/16/2016 - New lead program, Bankruptcies, Income requiring tax returns, buried gas storage tanks within 300' of a property, If best use of a property is commercial, SS Income no longer requires second form of proof of income, Maximum maregin provides maximum credit line growth for LOC, Over Disclose closing cosats and Broker comp on proposals, Taking pictures of docs, Loan transfers and requirements.

8/16/2016 Call Audio