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The coming credit crunch


The credit crunch is coming. Soon older Americans may struggle to access credit and home equity loans.

The fallout from the failure of Silicon Valley Bank remains with us today, despite a generous bailout courtesy of the U.S. government and the Federal Reserve. “When the banking stress first surfaced, my primary takeaway for U.S. equity markets was that it would lead to a credit crunch”, said Mike Wilson, Morgan Stanley’s chief U.S. equity strategist. In fact, the credit crunch is already begun and will leave many Americans unable to get access to numerous forms of credit from HELOCs, credit cards, and even mortgage loans. Wilson says, “The data suggests a credit crunch has started. And the data shows the “biggest two-week decline in lending by banks on record as they simultaneously sell mortgages and treasuries at a record pace to offset deposit flight”.

Simply put, banks are looking to reduce their risk exposure amidst an uncertain economy that most expect will enter Read More


Editor in Chief:
As a prominent commentator and Editor in Chief at, 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.
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