Editor in Chief: HECMWorld.com
As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.
1 Comment
While change is not easy, if we look we can find opportunities. Those opportunities come as a result of understanding products and applying them to the market.
Although he gets a lot of things about HECMs wrong, the Mortgage Professor brings up an important topic about our outlook. He sees opportunity and the need for the industry to refocus on the larger senior community. He believes we are so blinded by needs based seniors we do not see the much broader senior community. Although he believes the loss of the fixed rate Standard was an overkill and probably misdirected (on this point he and I do not see eye-to-eye), he also sees this as a blessing in disguise. He believes we have overlooked the broader senior market for whom the adjustable rate products are better matched.
We have two months to adjust. The question is how are we going about it? Fighting, being angry, or otherwise staying fixated on “why this loss,” will do nothing to change the situation or turn “our ship around.” It is time to move on and refocus on the adjustable rate products to see how they can benefit the greater senior population.
As to change, to the optimist it brings opportunities.