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What’s our Federal Reserve concerned about? I was in a restaurant last night in Truckee, California, and was shown the table and handed the menu. When the waiter came back five minutes later, he said, “While you were deciding, we raised our prices.” Okay, a little inflation exaggeration humor there, but things are certainly always changing. Remember when everyone thought Amazon or Zillow were going to take over lending? Zillow is shuttering its closing and title services division. Something else that always changes is the population: 10,000 people a day turn 62, and many are eligible for a reverse mortgage, and so many lenders and LOs see reverse being a growth field. (Carol Ann Dujanovich, VP/Director of Reverse Mortgage Operations with University Bank, is featured on today’s 30 minute Rundown at 12PM PT on what’s made its Reverse Platform successful over the years.) (Today’s podcast can be found here and this week’s is sponsored by Gal
Does technology always trump personal skills? Sometimes. But not all the time. Good LOs use the technology that best suits them in combination with their personal attributes to help borrowers every day. “In space, no one can hear you scream. In cyberspace, no one can shut you up.” How ‘bout some IT-related stuff? Here’s a softball: did you know that “Bluetooth” was named after Harald Bluetooth? The Bluetooth wireless specification design was named after the king in 1997, based on an analogy that the technology would unite devices the way Harald Bluetooth united the tribes of Denmark into a single kingdom. Another good use of technology is exhibited by Tim Lucas who writes, “There are more than 5 million Native Americans in the U.S. but only about 140 approved lenders. I created a Section 184 calculator that shows the required down payment, MI costs, and more. There's also a flowchart and a ton of info about the program.” T