Posted by Mary Pierce on 2/14/06 12:50pm
Msg #97076

Reverse Mortgages

How difficult are these? I just got a call for one and told the guy I had no experience but am willing to learn. He said if they couldn't find anyone available he'd call me back. Is this something that the loan officer could walk me through beings he will be there? It's for tomorrow. Also, do these command a higher fee normally? This one is out of my area to boot but I'd be willing to travel if they are willing to work with me.

Reply by BrendaTx on 2/14/06 12:51pm
Msg #97078

Re: Reverse Mortgages - Mary - I will email you... n/m

Reply by DellaCa on 2/14/06 12:56pm
Msg #97080

Re: Brenda will you e-mail me the same info I'm learning. N/ n/m

Reply by DellaCa on 2/14/06 1:17pm
Msg #97086

Re: Brenda's e-mail post was

personal to Mary I'm sure we can find info about our question in a search, I'll look.
Thanks Brenda.

Reply by Charm_AL on 2/14/06 1:20pm
Msg #97087

Della...

did you get the rev info I sent? It has a complete mock doc loan pka with all the info you need to close one. I thought you had that.

Reply by DellaCa on 2/14/06 1:27pm
Msg #97090

Re: I did Charm but

I'm always looking for new or other info to learn. Thank you very much for your information. I thought Brenda may have other info. Thanks again Charm.

Reply by Charm_AL on 2/14/06 1:31pm
Msg #97093

Re: I did Charm but

ohhhh....ok, I thought it was the same pkt.
Have a good one!

Reply by SignerCA on 2/14/06 12:58pm
Msg #97082

On average, how much more do you add to your base for RM's? n/m

Reply by NM_CO on 2/14/06 1:00pm
Msg #97083

Re: Never had one......curious..........

I've never done a RM. Are they easier than a regular ol' refi?

Reply by MistarellaFL on 2/14/06 1:04pm
Msg #97084

I think they're as easy as a refi

And I charge the same amount I do for a refi. Sometimes I am there longer, but that is due to "visiting" with the brw. This clientele likes to "visit".

Reply by MistarellaFL on 2/14/06 1:24pm
Msg #97088

And the brw's are usually more well-informed than I, LOL

forgot to add that. They have to take a "class" about the process, and what to expect. I would love to go to that class to see how it is explained in non-legal terminology.

Reply by PAW on 2/14/06 3:29pm
Msg #97154

Re: And the brw's are usually more well-informed than I, LOL

I've found that doesn't mean a lot. You have to know the lenders who do "good" training and those who don't. I've done mostly "good" (well-informed borrowers) and a few that I had to explain almost everything.

I charge the same for RM's, but do plan for an extra half hour to visit.

Reply by BrendaTx on 2/14/06 2:05pm
Msg #97106

Re: I think they're as easy as a refi

***And I charge the same amount I do for a refi. Sometimes I am there longer, but that is due to "visiting" with the brw. This clientele likes to "visit"***

MiStArEllA - is my friend, but I think we disagree on this one...

Charge $10 - 25 more as you will either be there longer OR you will be there at nap time or in the midst of a favored television program and have to GO FAST FAST FAST to get out without someone be a bit gripey at you.

Some like to visit. Some like to rush...some have a hot date...some are going dancing.

However, I meet the finest people at these appointments. I met a woman the other night who sued the great TAMU to gain equal footing with men in a certain capacity at one point in history before women had all the same abilities as men did there. She's an awesome woman.

This has happened several times so everyone calm down...it's not revealing any info on the woman. She's adorable...spunky...and I love her. Plan to visit her soon.

Reply by LauriecPA on 2/14/06 3:42pm
Msg #97158

Re: I think they're as easy as a refi

Brenda,
Do you mind if I email you for info? TIA

Reply by BrendaTx on 2/14/06 3:53pm
Msg #97164

Re: I think they're as easy as a refi Laurie -

If you've got a question, I guarantee I've got an answer! The right or wrongness status is yet to be determined.

Reply by MistarellaFL on 2/14/06 3:58pm
Msg #97166

Re: I think they're as easy as a refi

I guess that I should've mentined that I, too like to visit and am responsible for the extra time spent. When I have other appts. I scoot on out quickly, and let them know at the beginning that I am on a strict schedule.
I appreciate that you can charge additionally, but I am not comfortable doing so, because it really takes me no longer than a regular refi, and usually do the visiting at my own expense after the paperwork is finished. I agree that I have also met some of the finest people, great stories, and I learn something new every time. LOL I have not yet arrived at naptime nor fav tv show time. I have been blessed with some interesting and active seniors w/ RM's.
Have a happy VD, ya'll, I am off to the ball!