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Recent research from T-Rowe Price shows this expense is most likely to upend retirees’ budgets. Hint: it’s not healthcare…
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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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This coming Monday we should know how poorly this fiscal year’s total HECM endorsements compare to total HECM endorsements for each fiscal year over the last twenty fiscal years.
Don’t be surprised if the fiscal year ending 9/30/2023 (i.e., this fiscal year) turns out to be the second worst fiscal year for HECM endorsements in the last twenty fiscal years. Only fiscal year 2019 was worse.
CNAs (Case Number Assignments) for June and July 2023 are showing that total HECM endorsements for the first two months of fiscal year 2024 will have low total HECM endorsements. This indicates that there are no guarantees that total HECM endorsements for fiscal 2024 will be better than that same total for fiscal 2023. Could it worse for fiscal 2024?
For now there is no way to tell.
It would be good to the percentage of retail HECMs vs the percent of Wholesale HECMs… My guess that the majority are retail since The retail dominate the search engines. .
The RMI reports provide the basic data you need to make those % calcs.