Laura Hertz is the creative director for Cultural Outreach Solutions, specializing in creative marketing and recruitment strategies for mortgage and real estate professionals. She is currently working on a cutting-edge training platform designed to empower loan officers to be successful with the next generation of buyers through strategies in customer service, marketing and social media.
This summer you may have noticed more young people than usual walking down the street staring intensely at their cell phones (sometimes to the point of physical injury!). While it may appear laughable to some, mortgage and real estate professionals can incorporate the game into their marketing strategy. Don’t believe me? Here’s how others are doing it.
About a week before the November 2016 election, the U.S. Treasury market started to move lower. The cause of this increase in yield on the benchmark 10-year bond was not fear of an interest rate hike by the Federal Open Market Committee or the specter of higher inflation. No, the outlier event that shook the financial world out of years of torpor was a commercial real estate developer named Donald John Trump.
Fannie Mae’s National Housing Survey found that 37% of senior homeowners felt concern for their finances during retirement, yet only 6% of seniors are interested in utilizing home equity as a financial solution. With $6.2 trillion in home equity to bolster retirement income, why aren’t more senior homeowners taking advantage of products like reverse mortgages?
The time has come for internal workflows to be reimagined or all we’ll end up with is a shiny new chassis with a traditional, manual, cobbled-together process under the hood. I’m talking about the elements that make or break a mortgage transaction, such as valuations, investor requirements and reviews, compliance, surprises at the closing table, paper-based payment systems, onboarding, and the list goes on and on.