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Reverse mortgages a saving grace for non-bank originators

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EPISODE #747
Lenders who diversify product offerings more likely to survive market fallout & lender consolidation

[Housing Wire] Up to 30% of the 1,000 largest independent mortgage banks are projected to disappear by the end of 2023 via sales, mergers, or failures in the wake of the double whammy of still-rising inflation and interest rates. One asset group company is focusing on working with nonbank originators to offer additional asset classes such as HELOCs, second-liens, or reverse mortgages…

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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 Comment

  1. It is interesting the JB Nutter response does not address the allegations but rather deflects, by saying the allegations do not state anything about borrower qualifications or loss from the originations. Yet many of the HECMs in question probably have not terminated. Yet the basic question appears to be, did the lender materially misrepresent the qualifications of some of those who were involved in closing these HECMs?

    Will the same problems impacting the large independent mortgage banks hit the reverse side of the mortgage as hard (or even harder)?


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