Industry Leader Update »

Equal Disclosure Requirements for All

Equal Disclosure Requirements for All

Shannon Hicks May 15, 2017 4

Older borrowers deserve to know their options before getting a traditional mortgage Whether it is due to over-regulation, the sheer size of our housing bureaucracy, or crony capitalism, the mortgage marketplace is not a

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When No Advice is Worse Than Bad Advice

When No Advice is Worse Than Bad Advice

Shannon Hicks May 8, 2017 1

Professionals not providing all options can have devastating consequences “Failing to provide a client with viable options can be just as damaging, if not worse than providing poor advice” Such is the case in

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Reverse Mortgage News Roundup

Reverse Mortgage News Roundup

Shannon Hicks May 1, 2017 3

This Week’s Top Reverse Mortgage Stories 1- CFPB Complaints on the Rise- The CFPB has been busy collecting consumer complaints. The Consumer Financial Protection Bureau reports an increase of 172% increase in reverse mortgage-related complaints

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Some See the HECM Financial Assessment As A Benefit

Some See the HECM Financial Assessment As A Benefit

Shannon Hicks April 24, 2017 5

Two Years Later the Financial Assessment Receives Mixed Reviews The implementation of the HECM Financial Assessment was met with mixed reviews when it was launched in April 2015. While many industry professionals have remained

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The HECM’s State of Affairs

The HECM’s State of Affairs

Shannon Hicks April 17, 2017 4

Irrelevant HECM endorsements and recent developments The Irrelevancy of Historical Volumes A sense of frustration can set in for those expecting rapid expansion of loan volume back to our pre-recession levels.   After several

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HECM Changes Coming This Fall

HECM Changes Coming This Fall

Shannon Hicks April 10, 2017 1

Despite executive order, more HECM Changes coming this fall One would think our industry may catch it’s collective breath from the rapid nonstop pace of new rules and regulations for the Home Equity Conversion

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Lack of Financial Literacy Challenges HECM Acceptance

Lack of Financial Literacy Challenges HECM Acceptance

Shannon Hicks April 3, 2017 2

Financial illiteracy challenges acceptance of a counter-intuitive mortgage If there is one subject that cries for remedial instruction it’s financial literacy. Fortune.com found that nearly two thirds of Americans are in effect financially illiterate,

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The Sky Is Not Falling with Interest Rate Hikes

The Sky Is Not Falling with Interest Rate Hikes

Shannon Hicks March 27, 2017 1

Interest rate hikes are here. How to cope? The Federal Reserve has already increased the benchmark federal funds rate and has telegraphed their intention for additional hikes this year. Do reverse mortgage lenders and

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