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Paul Scheper: Lessons Learned in Reverse


Lessons Learned in My Year in Reverse 

Watch our exclusive interview with Paul Scheper- the man with the winning mindset in reverse mortgage lending! Here’s the lessons he learned in the last year in reverse.



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.
Readers wishing to submit stories or interview requests can reach our team at:

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  1. Great presentation, Paul. Shannon, you did great keeping up with Paul; few can do what you did and I am NOT one of those few.

    Shannon, does Paul sell an audiobook of the printed book you have on your desk so that we can improve our sales and general attitude while we sleep? On second thought with so much reverse mortgage sales enthusiasm oozing through such a read, who could sleep ??
    Paul, what is it that the really modern and smart originators are euthanistically (or is that euphemistically) calling proprietary reverse mortgages again? Oh yeah, portfolio loans. Neither LongBride nor FAR have been able to secure sufficient capital to fund all the increased demand for these mortgages since the name was first suggested, right?

    Paul, STC is an abbreviation that kills so many deals nowadays. In the last few years we have heard so many fake cures to offset the lost deals due to STC, ones like bringing back Savers or cutting IMIP. Maybe knocking down the IMIP might have saved a deal or two here and there but considering how few proceeds they would have provided, what real value would they have been long run?

    Dan Hultquist has a lot of good and effective ideas on how to cure STCs but even then there is only so much that can be done without SUBSTANTIALLY increasing both PLFs and the PLF expected rate floor. Who is working on that?

    Yes, we saw STCs even when PLFs were higher. In 2007 I told a retiree he would have to come to close with a check for $250,000 and he did!!! The next STC prospect was $89,000 STC. He was an older salesman in the men’s department at an upscale department store who was being terminated due to downsizing. He came to close with a bank cashier’s check paying the STC in full. But for each success in curing a STC, there were far more failures. Our big problem in yesteryear was the very low statutory MCA county limits of between approximately $200.000 and 362, 790. Paul and Shannon, I know you both remember those days. Before 2008, the highest HECM comp was a percentage of the origination fee and was, therefore, rarely over $5,000 even though proprietary RM comp reached $250,000 (Monte Rose) in one case?

    Paul, you may not be the young man whom I first met but you keep delivering. Keep it up!! It is great to see. May you continue to thrive and prosper throughout the remainder of 2024!!

  2. I agree with James, what a great presentation!
    I also agree with James on the increasing of the PLF and the expected rate floor.
    Who is working on that? If no one is, maybe NRMLA can address this with the powers that be as I am coming up with more STCs than not, and I am sure there are many more LO’s that are facing the same situation.
    The ultimate goal here is to help our borrowers and without some changes we are going to continue to face the same challenges that we are now.

  3. Paul Scheper: Northridge Knights, Granada Hills Highlanders, Harvard Crimson, University of Southern California. Now Reverse Mortgage legend.

    For people in the RM industry might find it interesting that I first met you when you were 9 years old and you and David Gomer were the super-stars at my super-star competition to recruit youth athletics. Now you two are friendly competitors in business.

    And for 30 years I have enjoyed our monthly lunches and real estate updates. Always interested to see what you are planning. Also, thank you for being a student of Duane Gomer Education and for teaching classes when you were able. And am I still a letter in your book.

    Enjoyed listening to your products on Assumable Loans, STC, and loans for younger people. HOPE There is a light at the end of the tunnel. Pain Does End. And my mantra for today: Keep your overhead low and your ego lower.

  4. Great interview!!
    If there is a more positive person in the world than Paul Scheper, I haven’t met them!
    I worked for Paul several years ago, and I am still inspired and influenced by what I learned from him.

    • I agree Bill! Paul is one of a kind. I never new you worked with him before. Thanks for the comment!

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