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The Trump Era & The HECM

The Trump Era & The HECM

Shannon Hicks May 30, 2017 1

Good News for HECM, Not So Much for Housing Programs President Donald trump embodies the essence of a political wrecking ball in Washington D.C.- a city known to cling tightly to political traditions of

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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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Compliance: CFPB Levies Penalties on HECM Lenders

Compliance: CFPB Levies Penalties on HECM Lenders

Shannon Hicks March 20, 2017 1

Recent CFPB actions highlight the importance of compliant advertising and sales practices Since the founding of the CFPB (Consumer Financial Protection Bureau) in 2011, lenders have found themselves navigating the ever-changing waters of regulatory

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7 Questions We All Should Be Asking

7 Questions We All Should Be Asking

Shannon Hicks November 3, 2014 11

In the interest of best serving the needs of the borrower and protecting ourselves against future legal claims, each of us should reexamine the questions should be asking each potential borrower...

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Protecting Seniors From Financial Fraud

Protecting Seniors From Financial Fraud

Amara Rose December 24, 2013 5

With the rollout of the Affordable Care Act, it's especially important to be aware of schemes to defraud seniors of their savings, which are sometimes cloaked as medical assistance. Scam artists have become more

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Assumption Without Research?

Assumption Without Research?

Shannon Hicks May 6, 2013 5

Assumptions. That’s what one could surmise from the Consumer Financial Protection Bureau’s recent report on the use of professional designations in the senior market

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Not Confused But Informed

Not Confused But Informed

Shannon Hicks September 17, 2012 3

Would a senior make perhaps the biggest financial decision of their life, with their largest asset in the midst of confusion and uncertainty and choose to take a reverse mortgage? Most likely not.

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Consumers Union to CFPB: Only as a “Last Resort”

Consumers Union to CFPB: Only as a “Last Resort”

Shannon Hicks September 10, 2012 10

Two consumer groups are urging the CFPB to make drastic changes to the revere mortgage program. Chief among them is a suitability standard and fiduciary duty. In the words of the Consumers Union they

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