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Will demographics be the saving grace for HECM lending?


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Will demographics be the saving grace for HECM lending?

For decades many reverse mortgage professionals have touted the demographic advantages that should boost the reverse mortgage’s acceptance and overall loan volume. So far that has not come to pass. Demographics are not destiny but they do hold valuable insights.

[Reverse Mortgage Daily] Reverse Mortgage Daily reports that according to the U.S. Census Bureau’s population projections, 4.4 million Americans will reach the age of 65 in 2024— a figure that comes out to roughly 12,000 people per day.

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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. Actually loan volume has decreased since 2007. HUD changes some good some bad have stifled growth as well as industry itself which seems to be stuck and without a clear vision. The recycling of loan officers from company to company fighting over low hanging fruit. Investment in boots on the ground and new markets from which to plant seeds that sprout. More talent sorely needed and lower overheads could be a guiding light.

  2. As a demographer I totally agree that demographics are not destiny, except for me (ha!). But they can be a wind at your back or a drag on growth. The winds in the case of HECM markets are: household growth in the early retirement age groups, record illiquid home equity, and a strong penchant to “age in place.” The obvious drags are high interest rates, misunderstandings about the costs and benefits of reverse mortgages, and perhaps the geographic dispersion of the next best markets. There is still time, however, for interest rates to moderate and education campaigns to penetrate before the last Baby Boomer turns 62 in 2026.

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