RM HIVE Meeting 3/25/26

Meeting summary

Quick recap

The meeting focused on updates and discussions within the Reverse Mortgage team, covering recent developments, challenges, and opportunities. John shared insights from a recent event and introduced tools like the interactive Reverse Mortgage guide and calculators, emphasizing the need for feedback and refinement. Members, including Brian, Dan, Chris, Shane, and Julie, discussed current challenges such as rising rates affecting borrower eligibility, political sentiment influencing client decisions, and strategies for expanding partnerships with long-term care planners and financial advisors. The group explored opportunities in BNI chapters, teaching opportunities, and deepening relationships with financial planners, while also addressing specific product details like SmartFi's jumbo reverse mortgage features. The conversation ended with each member setting a priority for the upcoming quarter, focusing on activities like implementing BNI outreach, increasing teaching engagements, and enhancing calculator rollouts to strengthen business growth and client engagement.

Next steps

• DanTheMortgageMan: Complete review and correction of verbiage in the caregiver section of the Reverse Mortgage educational guide by this weekend.

• Brian: Contact Chris to discuss creating a one-page flyer/infographic about reverse mortgages and long-term care planning, and share the result with the group if possible.

• Brian: Share the long-term care content for his website with the group once available.

• All team members: Review the interactive Reverse Mortgage educational guide (linked in chat) and provide feedback, especially on calculations and content accuracy.

• John: Share the event deck and related materials from the recent event in the group for others to use/adapt.

• John: Mention to Todd about potentially removing the CLA team contact button from the education page.

• John: Share the Level 10 Reverse Mortgage Hive tracking doc with the group and check in periodically on progress.

• Brian: Email John to get the script/template for rolling out the calculator to financial planners.

• John: Send Brian a short video explaining the calculator rollout process.

• DanTheMortgageMan: Reach out to Troy to discuss BNI/NSF chapter outreach strategies.

• Troy: Share contact info with DanTheMortgageMan for further discussion about BNI/NSF outreach.

• All team members: Pick one priority for the next quarter (as per Level 10 process) and update John for tracking.

Summary

Personalized Thank You Cards Discussion

John discussed receiving a unique metal thank you card from speaker John Israel, which inspired him to consider similar personalized thank you notes for key partners. The group briefly mentioned an upcoming event scheduled for April 28th, though the specific details were not fully discussed. John also shared information about an AI presentation by Allie Miller that was happening simultaneously, recommending her newsletter for valuable AI content.

ChatGPT to Claude Migration Discussion

John and Brian discussed the transition from ChatGPT to Claude AI tools. John shared that he successfully migrated his ChatGPT data to Claude, which improved his experience with the new platform. Brian mentioned that many users are boycotting OpenAI's products following government actions against Anthropic, and his Gen Z child had already removed their data from OpenAI services. The conversation ended with an uncompleted question about current happenings and progress.

Political Influences on Reverse Mortgages

The group discussed how political views sometimes influence reverse mortgage decisions, with Brian reporting that about half of his potential borrowers in Southern California bring political considerations into their discussions, particularly regarding Trump's impact on their financial situations. Brian noted that about 25% of these borrowers are Trump supporters while 75% are progressive liberals. Julie expressed surprise at not having encountered similar political discussions in her limited experience with reverse mortgages, and the group agreed that while they don't judge clients' political views, they acknowledge and work with whatever concerns clients have about their financial situations.

HECM Loans on Tribal Land

Dan shared his experience successfully obtaining HECM loans on tribal land using Finance of America as the lender, noting that fee-simple ownership is key and Finance of America is the only lender he's found willing to do these transactions. Brian discussed a conversation with a long-term care planner who expressed interest in using reverse mortgages with long-term care plans, and they agreed to collaborate on creating educational materials about this combination, though Chris was expected to join the call to help with infographic creation.

Reverse Mortgage Educational Planning

Brian discussed plans to add information about long-term care planning to his website and mentioned editing a Reverse Mortgage book with screenshots and comments. John shared a link to an interactive Reverse Mortgage educational guide that Todd has been developing, which includes chapters and customizable content based on the user's role. The team acknowledged the need for more feedback on the guide before wider distribution.

Mortgage Calculation Document Updates

The team discussed updates to a book or document about mortgage calculations, with John sharing that he helped update numbers and requested feedback from others. Brian reviewed the verbiage and identified several inaccuracies, particularly around HECM and jumbo loan terminology. Shanne suggested using static examples in the document with a disclaimer that actual calculations should be handled by the team, which aligns with the goal of having readers reach out for personalized assistance.

Book Project and Reverse Mortgages

The team discussed updates on a book project, with Dan working on correcting verbiage in the caregiver section and planning to complete it by the weekend. John shared insights from a recent event about long-term care planning, noting that caregivers and care placement professionals often don't consider reverse mortgages as funding options for their services. Brian mentioned conversations with senior care placement professionals who show interest in reverse mortgages as an alternative to placement in nursing homes.

Senior Care and Real Estate

The group discussed various options for senior care and real estate considerations. John explained the role of placement professionals who help seniors find suitable care facilities and receive commissions for successful placements. Dan shared insights from a conversation with an in-home care CEO about potential issues with placement services, particularly regarding transparency about care requirements. The discussion also covered board and care homes as a more affordable alternative to traditional care facilities. Shanne shared a recent experience with a reverse mortgage that may need to be refinanced back to a traditional loan, highlighting the complexity of these financial arrangements for seniors.

Reverse Mortgage Advisory Discussions

Shanne discussed two recent conversations with financial advisors about reverse mortgages. In the first case, she helped a client understand that making payments against an existing reverse mortgage could achieve an interest-only effect without refinancing costs. In the second case, she is working with an advisor on a reverse mortgage for his mother's purchase and will help explain the benefits of early implementation to clients in their early 60s. John noted the growing momentum in the market, observing that more advisors are reaching out for guidance on reverse mortgage options for clients who have substantial financial resources.

HECAM Reverse Mortgage Calculator Demo

John demonstrated how to use the HECAM Reverse Mortgage calculator on the partner page, showing features like generating branded links and inputting loan details to see available cash and growth of the line of credit. He mentioned noticing an issue with the CLA button directing to all pages and planned to discuss this with Todd. John also shared materials from a recent event featuring three speakers, including a "trilogy" deck and an interactive life readiness scorecard that combined financial advisor and care manager content.

Reverse Mortgage Team Prioritization Process

John introduced a new Level 10 meeting process for the reverse mortgage team, based on the EOS system, to focus on implementation rather than building new tools. He asked each team member to select one priority for the next quarter, starting April 1st, and agreed to check in regularly to track progress. DanTheMortgageMan shared his priority of implementing a BNI reach-out program, which involves visiting financial advisors in the 11 states where he's licensed to expand his network and generate more revenue.

Business Development Quarterly Goals

The team discussed quarterly goals and priorities for business development. Chris proposed incorporating debt management, including reverse mortgages, into annual reviews with financial planners to capitalize on the senior market niche. Brian planned to roll out Lend Insight to 50 financial planners over the quarter, contacting 5 per week using a templated email process. Julie aimed to secure 4 additional teaching opportunities to increase her reach. Troy expressed interest in multiple initiatives including B&I chapter outreach, though he struggled with prioritization. The team also discussed SmartFi's jumbo reverse mortgage product, noting that while it offers a lifetime line of credit, counselors may need clarification on this feature.