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Opportunity In The Reverse Mortgage Industry

It’s a common phrase used in business and government. A call to return to founding principles, practices or behavior that historically led to success. The reverse mortgage industry has just such an opportunity today. The opportunity to return to a more traditional product mix of adjustable products with lines of credit or tenure payments. The opportunity to provide a broader range of choices and flexibility for senior homeowners.

Such a paradigm shift in thinking is especially challenging for those who are relatively new to our industry who entered during the fixed rate standard era. But a larger challenge looms ahead. The Financial Assessment and escrow set asides….

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

The_Cynic
May 20, 2013 at 1:16 pm
Even in the early days of HECM for Purchase, all but a small percentage were HECM ARMs. While it has never been as easy to present HECM ARMs as HECM fixed rates to seniors, the HECM ARM would have been much better for many seniors who obtained HECM fixed rates had they been better advised.

While I did not get a chance to be at the presentation a few days ago, I look forward to viewing it soon.
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