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A Bright Future

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Professor Sees Reverse Mortgages as a Cornerstone for Retirement Planning

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It’s no small endorsement. Well known Columbia Business school professor Christopher Mayer not only sees a bright future for reverse mortgages but he’s going into business himself. Mayer is tapering his teaching responsibilities at Columbia to serve as CEO of the startup reverse mortgage lender Longbirdge Financial….


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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.

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  1. I’m not sure that I agree that the HECM will become the “cornerstone” for retirement planning, but I do realistically see it as a viable retirement tool for seniors going forward. It is up to us as originators to learn more about the needs of this segment of our client base and effectively taylor the program to fit them.

  2. What an ultra optimistic outlook to be called bullish. If anything the view of Dr. Mayer is primarily the bullish view of a senior consumer advocate. Capping disbursements in the first year does not provide more revenues to the industry nor will financial assessment. However, he is right when he discusses the momentary concept of senior home equity. No one prognosticator expected the Baby Boomers to turn 62 with less debt than their predecessors but the Great Recession has resulted in more debt than previously predicted.

    Why are IRA and 401(k) distributions impacted by market fluctuations? Beneficiaries are permitted to continue taking the same distributions despite market ups or downs. The only reason why distributions might be impacted by market changes is if beneficiaries are taking RMDs (required minimum distributions) or the beneficiaries have selected to take a specific percentage of the market value in the account (of course, until the distribution is greater than the account balance). Either way the concept of lower distributions is misleading without presenting the assumption upon which the statement is based.

    Perhaps others are impressed by the BCCRR documents of Dr. Munnell, but they seem more marketing biased than research based conclusions. When it comes to reverse mortgage related BCCRR documents, too many look more like marketing propaganda than research driven documents.

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