August 2012 Top 100 HECM Retail Lenders
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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 is shaping up as the second worst drop for a fiscal year ever both in raw numbers and percentage. For the eleven months just ended we have 22,000 fewer endorsements than we did during all of the last fiscal year. With only 4,122 endorsements for last month and the holiday falling on the 3rd of September, it seems that total endorsements for this fiscal year could be as much as 17,000 to 18,000 less than last fiscal year. The total endorsements for last fiscal year were 73,131 meaning that the total for this fiscal year should be around 55,600.
With June 2012 and July 2012 total FHA case numbers assigned already lower than the same months last year, fiscal 2013 is not shaping up to be a better fiscal year than fiscal 2012 and could be worse by some estimates. For now it seems that total endorsements for fiscal 2013 could slide under 50,000.
While the future of the industry is bright, it may be very difficult to envision that future at least for another fiscal year. Let us hope the turnaround will be visible by the end of next fiscal year.