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Despite Scrutiny Some Changes Could Boost HECM Credibility

Shannon Hicks
Recently recommended servicing reforms may boost HECM image It’s a fact every salesperson and reverse mortgage professional must embrace- the vast majority of consumers inherently distrust salespeople. Will recent HECM changes help bolster the product’s legitimacy in the public eye? The irony is that every major purchase from buying a

HECM reforms the focus of Congressional hearing


Shannon Hicks
 Recent improvements, racial targeting, and some surprising suggestions Despite the impeachment drama in our nation’s capital, the House Financial Services Committee’s hearing on the HECM was held as scheduled. It shows that some Congress members view of the HECM has evolved and some interesting proposals were put forth from

A preview of Wednesday’s HECM Congressional Hearing

Shannon Hicks
House Financial Services Committee memo on HECM hearing reveals priorities and focus points This Wednesday the Home Equity Conversion Mortgage program will face the white-hot glare of Congressional oversight and scrutiny. The House Committee on Financial Services will be reviewing the benefits and challenges of the Home Equity Conversion Mortgage-

Lifelong Mortgages: The New Norm?

Shannon Hicks
 Younger borrowers are taking longer mortgages- then comes a reverse? When debt is king and aging populations are exploding across developed countries, more are finding themselves with a mortgage throughout their adult years. Lifelong mortgages may soon become the rule rather than the exception. Overall baby boomers are not

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