Redefining HECM

Shannon Hicks February 15, 2013 1

HECM. As a reverse mortgage professional we know that stands for the Home Equity Conversion Mortgage or federally-insured reverse mortgage. But here’s another definition that is the key to us being successful business people. Hungry, Energetic, Convinced, Masterful.

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  1. James E. Veale, CPA, MBT February 15, 2013 at 10:55 am - Reply

    As a CPA, one looks for exceptions and deviations from what is expected. Sometimes that leads to pessimism.

    This morning while writing a strong critique of the use of fixed rate Standards in conjunction with HECMs for Purchase (“H4P”), suddenly it came to light that the tone of the article was trending toward negativity about the H4P product. At that point, revisiting the ethical positives of the product forced a change in the tone of the article, to some degree in its body but more particularly in its conclusion.

    Taking the few moments to revisit the positive uses of the H4P product caused a different outlook not just to an article but more importantly to a trend in thinking. If someone was to call about getting a H4P at this point, they would hear a very positive sound in my voice unless they were obtaining a H4P fixed rate Standard and it was obvious they did not need a substantial portion of the proceeds in the immediate future.

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