The Truth About Origination Fees

by Shannon Hicks
| 5 Comments
| September 7, 2015

[vimeo id=”138362313″ width=”625″ height=”352″]

Clear Guidance & Open Communication Needed

Truth be told most prospective reverse mortgage borrowers focus on the cash benefit, not the pricing. That soon may be changing and each of us as reverse mortgage professionals had best be prepared. Last week the Mortgage Professor, Jack Guttentag, published a article on his blog entitled “Are HECM Reverse Mortgages Overpriced?”

As our industry struggles to shed our reputation as an expensive loan of last resort perhaps we should consider a few ways in which uninformed homeowners approach the loan and how we communicate when it comes to origination fees.

First of all origination fees are often a necessary…

Download a transcript of this episode here.

Looking for more reverse mortgage news, commentary and technology? Visit ReverseFocus.com today.

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.

5 Comments

thomas mastromatto
September 7, 2015 at 3:48 am
Using a specific set of genetic markers, scientists predicted with 77-percent accuracy whether someone would live to a very old age so your not always dealing with numbers. Seniors know their family history which changes their decision..
Also the Ivy league genius has quotes on his website that some guys just blow away
- Reply
- Link
- The_Critic
  September 7, 2015 at 11:23 am
  Tommy,
  
  Stop the belittling.
  
  Jack is one of the reasons why we have HECMs. Over three decades ago, he was at the forefront almost fighting solo for a FHA insured reverse mortgage.
  
  Pointing out his calculator shows high upfront costs is not a problem but why call him names?
  
  You seem to enjoy attacking friends of the industry just for its own pleasure.
  
  Reply
  Link
Robin
September 7, 2015 at 5:17 am
The link to full article/discussion on cost does not match up, seems to go to extenuating circumstances from last week.
- Reply
- Link
- Shannon HicksModerator
  September 7, 2015 at 9:56 am
  Thank you for bringing this to our attention. We have fixed the link to correctly link to this week’s episode transcript. Happy Labor Day!
  
  Reply
  Link
jeff
September 9, 2015 at 6:54 am
Keep it simple -don’t over analyze it Jack-We’re not rocket scientists !!
- Reply
- Link