EPISODE #847
FHA Commissioner speaks to HECM professionals on program perspectives and observations
The National Reverse Mortgage Lenders Association Annual Meetings are a time to network with fellow reverse mortgage professionals and an opportunity to hear from the top leadership of the housing agencies that manage the federally-insured Home Equity Conversion Mortgage.. Here’s what FHA Commissioner Julia Gordon had to say about the HECM program. [Listen for Details]
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Shannon Hicks
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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2 Comments
Ms. Gordon expresses the right words but her actions were limited as to expanding the program to more seniors such as higher PLFs. As of now over a month later, the value of her support for the next 50 months seems irrelevant.
There was much the existing Administration could have done to expand the HECM program but it failed to perform. I had certainly hoped for more, much more. I hate being focused on lower and lower HECM endorsements that has been too much the case over the last 7 fiscal years.
Just because the HECM program has had 1.3 million endorsements does not mean there have been 1.3 million borrowers. There were over 514,000 HECM endorsements with more than one borrower. Plus there have been 131,000 HECM Refis. That means there have been over 1.8 million borrowers of which somewhere between 131,000 to 200,000 borrowers were refinancing. So a safe number of unique borrowers is over 1.6 million.