Year In Review

This is the time to do the “year in review”….OR NOT … this has been a year that has been rehashed again and again……… commented on, trashed, exalted….but it’s been a year like no other.

For me it has been intense.  It started out with the mortgage industry on the brink in March/April.  Then finding its footing and recovered throughout the summer.  But it was scary… like 2008 when the financial infrastructure was on knifes edge.   I am sure the man/woman on the street didn’t feel that but it was a real thing in my industry.   So what did we do?   Well, 1we worked and worked like no other year, ever.   Today 12/31 I reflect.  I had 180% increase in business this year.   Do you know what that means??   It means no rest for the weary and of course records smashed.    But like every year no matter the bottom line I am grateful for my customers, my friends, family and my great community.

THANK YOU and wishing you no COVID, lots of travel and time with your loved ones and a vaccine that we all take to end the crazy.

Love, and I mean it.   LOVE to you.  Sharron


Wonderful news about reverse mortgage financial assessment

In April 2015 our industry and FHA instituted a financial assessment for all borrowers. This was a way to ascertain the potential borrowers’ ability and willingness to pay their property charges and also the other monthly obligations they have. It was a big change for me as an originator and required a few more documents I needed to collect from the borrower but BOY was it successful! The purpose of the FA was to lower the amount of borrowers who ended up with tax and insurance defaults and new data shows that these defaults have been cut by over 75%. Good news for the FHA mortgage insurance fund and good news for the overall health of the FHA HECM program.