say we have had a good turnaround in LOs completing it from start to finish.” Even if originators don’t finish the program, it will likely leave them better equipped to help clients who ask about reverse loans, including knowing when to hand off the borrower to a specialist, Smith says. More than PowerPoint At FAR, a six-week training program incorporates a broad mix of approaches, from prerecorded materials to live coaching sessions to peer-to-peer learning opportunities. “If you’re just clicking through PowerPoints, you’re going to lose that learner, regardless of what you are saying or how important it is,” Hanna says. Another advantage is the ability to track each person’s progress and identify where they might need additional help. One person, for example, may learn better through hands-on experience rather than digital, Hanna says. Longbridge Financial has created what it calls topical “micro-trainings” for its partners, according to Jim McMinn, training director for the company. “These laser-focused, quick sessions allow us to get important information into our partners’ hands more efficiently so they can get back to selling,” he says. Internally, Longbridge has implemented a leadership excellence program designed to help its supervisors, managers and other leaders advance in their careers. An e-learning library, meanwhile, offers Longbridge employees on-demand access to more than 80,000 courses on everything from business expertise and personal development to compliance and technology. “We have seen increased attendance and participation by providing shorter, more concise training and making these resources available on-demand for self-paced learning,” McMinn says. The company has also seen increased compliance with U.S. Department of Housing and Urban Development regulations, as well as improved loan quality and greater overall efficiencies, he adds. Steady Stream Artificial intelligence is likely to further enhance training, executives say. The ultimate impact is unclear, but the overall focus will remain on using whatever tools are best suited to the needs of the originators who are picking them up. “If that means in five years from now that a new tool or resource is going to train and educate our people in a better way than what we’re doing today, then we’re going to be agile and we’re going to adapt those things,” Hanna says. “But we’re going to keep our approach diverse, and we’re going to make sure that we get the best outcome.” Companies also will be ensuring their staff members in the reverse mortgage field are keeping pace with the evolving market and changing regulations. “You really need to make sure that you are providing all reverse team members with a steady stream of training on product and policy updates, on an equal level to any forward products,” Smith says. “To retain reverse LOs, we need to show them they are valued as much as forward LOs.” Joel Berg is a writer and editor based in York, PA. University Bank Your go-to for Reverse Mortgages, visit us at University Bank – Reverse Mortgage Division, Equal Housing Opportunity - NMLS 715685, 2015 Washtenaw Ave, Ann Arbor, MI 48104 – (www.nmlsconsumeraccess.org), Member FDIC that operates in various states. For a complete list of the states University Bank. can operate in please visit https:// www.university-bank.com/licensing. www.university-bank.com/reverse SMILE TODAY, it’s contagious. Jim McMinn REVERSE MORTGAGE / JULY-AUGUST 2024 23
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