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Forward on reverse: The dilemma of the underage spouse in reverse mortgage situations

National Mortgage Professional
Aug 15, 2007

The technology mindset: How to embrace changeBob Daviespaperless process, automated underwriting, automated approvals Technology is not only present today, but it has been around for several years. The question then is: Why is there resistance to using it? The paperless loan process, in combination with automated underwriting, will get your loans closed in record time, just days after you're done processing your loan. If you are still waiting two weeks to send your package into a banker and then the banker takes two to four weeks to close, you are taking too long to get your loans closed. Don Currie of High Tech Lending uses automated approvals in combination with the paperless loan package at the point of sale. This creates a remarkable synergy that gets your loans closed faster and more efficiently. Don says, "Right after you take your application, within 72 hours, our brokers contact our ACT technicians--that's Approval Center Technologies--and they assist them in uploading their packages into our engines for a formal approval and price protection. Then, they scan or fax the package in so all of us can work on the package simultaneously. This empowers you, the customer, to begin processing a package that is formally approved, locked and ready for documents. Additionally, you can accurately disclose the package within 72 hours, so there are no surprises at the closing table. This process cuts processing time and increases your closing ratio." There is no additional equipment necessary, as you can simply fax your package directly to your lender. Every company has a loan operating system, but it may fall short if you need to re-key entries. If everyone agrees that technology makes your life more efficient and easier, then why isn't everyone on board? Please keep this in mind: The truth is not relevant. The truth doesn't matter. The only thing that matters is this: Does what you are paying attention to support you in taking the actions you need to take to reach your goals? It's all a matter of selective perception. You and I are victims of our habits, to our old and familiar ways of doing things. Our brains are wired to automatically respond. We are bombarded with more than 400,000 bits of information per second and we pay attention to only about 2,000 of those. Most of that is below the level of consciousness--such as breathing, heartbeat, digestion, cell repair, etc. Our brain is designed, therefore, to free up our limited attention span to seek out what dangers there are that are life threatening and for us to avoid them. Unfortunately, when we are faced with a challenge to the old way of doing things, this is seen by our brain as a threat and we are stimulated to avoid the new. We then rationalize and don't realize that we are avoiding. We think that the truth is that we are doing just fine the way we've always been doing things. Remember, however, that you and I cannot trust our interpretation of the truth and, therefore, it is not relevant. The truth doesn't matter. I am a professional speaker, trainer and coach. One of my coaching clients still keeps track of her customers by hand. She has a file on each client with handwritten notes. She prompts herself for future actions through the use of a paper calendar. I have explained the need to automate the process with some type of contact management such as ACT! or Goldmine, or even Microsoft Outlook. She refuses to change, however, because of her old and comfortable habits and resistance to change. We all have three major resistances: 1. We will resist doing activities we don't feel like doing. 2. We will resist doing activities that we associate with pain. We will avoid and rationalize. 3. We will resist, avoid and fear change. This is called homeostasis. This is the Greek word that means "stay the same." Our bodies are physically designed for homeostasis. Unfortunately, we are also mentally designed to stay the same as well. You will need to change your habits as well as take on and use technology. If you don't, then you'll continue to respond to the same mindset as you always have and you'll continue to do what you've always done. How do you change your mindset, stomp out old habits and create new ones? Here's how: - Get MAD (Make A Decision). Answer the questions, "What do I want? How much is enough? What am I building?" - Identify what activities you need to do to have what you want. - Identify what activities you need to do this week to have what you want. - Declare what activities you will do this week. - Put these activities into a behavioral contract. A behavioral contract has the following components: Specific declarations + accountability = elite performance. Accountability is missing from most people's lives. Accountability has two components: 1. The check in. Someone outside of yourself checks in with you to see if you did what you said you would do. 2. The enforceable consequence for non-performance. There must be a painful consequence such as a fine or some other uncomfortable penalty that you will agree to honor if you don't do what you said you would do. Since we are all wired to avoid the highest level of our perceived pain, you will be driven to avoid this penalty. You avoid the penalty by doing what you said you would do. The penalty must be the highest level of perceived pain, more uncomfortable than the perception of technology, or exercising or dieting. By using a behavioral contract on a weekly basis you will use human nature to generate the habits that will lead to the successes that you say you are committed to. Declare what technology you want to use and what actions this week you will take to move you closer to being as efficient as you can possibly be. Make a commitment to another person to take those actions. Place a penalty if you don't and then watch what happens. Bob Davies is a motivational speaker, author, trainer and coach. He may be reached at (949) 830-9192 or e-mail [email protected], or visit his Web site at www.bobdavies.com.
Published
Aug 15, 2007
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