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Financial Assessment Accepted by Industry

Financial Assessment Accepted by Industry

Shannon Hicks May 22, 2017 2

The origins of the now-accepted HECM Financial Assessment Despite it’s initial chilly industry reception the HECM Financial Assessment has been accepted- so said HUD’s Phil Caulfield. During his remarks at the NRMLA western regional

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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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This is why we have the Financial Assessment

This is why we have the Financial Assessment

Shannon Hicks May 9, 2016 10

One couple’s story highlights the rationale behind the Financial Assessment In an ideal world, the government and housing agencies would not have to protect people from themselves. The truth is that is not the

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Does the Assessment Require the Kitchen Table?

Does the Assessment Require the Kitchen Table?

Shannon Hicks September 14, 2015 0

Does the Financial Assessment Require Face-to-Face Meetings in the home? Much has been written about the Financial Assessment, especially the level of personal financial information required and the rapport needed to build the trust

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Assessment Confusion: Extenuating Circumstances

Assessment Confusion: Extenuating Circumstances

Shannon Hicks August 31, 2015 4

Many Originators Seeking Clearer Guidance Under Assessment Your applicant’s credit history isn’t so rosey. A smattering of late payments on credit accounts, an overdue property tax installment or problematic medical bills. Such issues often

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It’s Getting Personal: The Financial Assessment

It’s Getting Personal: The Financial Assessment

Shannon Hicks August 17, 2015 5

The Challenges of Diving into an Applicant’s Highly Personal Financial Information From building trust or diving into one’s very personal financial data the financial assessment presents challenges and opportunities alike. In marking the division

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A Boiled Frog?

A Boiled Frog?

Shannon Hicks August 14, 2015 1

“I’ve seen my share of boiled frogs” One industry titan said of struggling industries “I’ve seen my share of boiled frogs”. While resilient the reverse mortgage industry has struggled since 2009. Battered by the

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Financial Assessment Welcomed by Some

Financial Assessment Welcomed by Some

Shannon Hicks August 3, 2015 1

Some Lenders Welcome Financial Assessment Three months following the enactment of the Financial Assessment some smaller reverse mortgage lenders are finding the new guidelines a breath of fresh air. A welcome change? Surprising since

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