Cheerleading isn’t just for sports- it’s for reverse mortgage lending.
Shannon Hicks -Reverse Mortgage Commentator
President: Reverse Focus, Inc. ? Video Commentator ? Blogger ? Podcaster ? Reverse Mortgage Enthusiast ? P: 800-805-9328
Last week, my wonderful wife shared an article entitled?Four U.S. Presidents Were Cheerleaders that immediately caught my attention.
Did you know that Franklin D. Roosevelt, Dwight D Eisenhower, Ronald Reagan, and George W. Bush were once cheerleaders? While cheerleading is often seen today as a predominantly feminine activity, that wasn’t always the case. In fact, women were largely excluded from the sport until World War II, when many college-aged men were called to serve overseas.
What’s even more fascinating is that these three iconic Presidents cheered for their teams while aspiring to be on the field themselves. Franklin D. Roosevelt didn’t play college sports but wrote about Harvard’s teams for the university newspaper. In the 1930s, Ronald Reagan cheered for the Eureka College basketball team while also serving as swim team captain. George W. Bush, tired of sitting on the bench at Phillips Academy Andover, took up cheerleading and eventually became the head cheerleader during his senior year.
What unites these three leaders? They understand the importance of recognizing and celebrating the contributions of others. They know that a team’s culture—its spirit and support—is just as crucial as individual skills.
So, how can reverse mortgage originators channel their inner cheerleaders to support potential and existing borrowers? Here are some practical ideas:
1. Celebrate Milestones Along the Way
The process of securing a reverse mortgage can take months, and it’s easy for borrowers to feel overwhelmed. By celebrating key milestones—such as submitting all loan documents, passing the financial assessment, completing the appraisal, receiving a clear-to-close, and finally funding—you can help borrowers stay motivated and engaged. Recognizing these small wins fosters a sense of progress and accomplishment.
领英推荐
2. Be a Source of Comfort and Encouragement
Cheerleaders provide support both on and off the field. Similarly, reverse mortgage professionals can offer encouragement during challenging moments. Whether it’s helping borrowers navigate a required Lifetime-Expectancy Set-Aside (LESA), managing a lower-than-expected appraisal value, or addressing necessary repairs, your reassurance can make all the difference. Simple affirmations like, “I know this feels tough, but you’re doing great, and we’ll get through this together,” or “You’re closer than you think to eliminating those mandatory monthly mortgage payments,” can instill confidence and perseverance.
3. Personalize the Experience
Throughout the loan process, refer back to the homeowner’s goals. Remind them why they decided to pursue a reverse mortgage in the first place—whether it’s achieving financial freedom, renovating their home, or supporting their retirement dreams. Keeping the focus on their objectives helps maintain clarity and motivation.
4. Be There at the