Industry Leader Update

HUD Secretary committed to HECM changes

Shannon HicksSeptember 13, 2019September 13, 2019

by Shannon HicksSeptember 13, 2019September 13, 201901014

Secretary Ben Carson’s prepared remarks for recent Senate hearing confirm HUD’s mission to enact key HECM reforms While politicians squabble over the government’s role in making homeownership a reality, older homeowners who wish to use their home’s value to age in place were left out of the debate in

BREAKING: Major HECM Changes Announced

Shannon HicksSeptember 8, 2019November 4, 2019

by Shannon HicksSeptember 8, 2019November 4, 20194 1940

HECM-to-HECM Refis Targeted, Appraisal Scrutiny & More Late last Thursday afternoon we received word that the Department of Housing and Urban Development (HUD) in cooperation with the Treasury Department presented President Donald Trump with their plan for reforming the Nation’s housing finance system and the Home Equity Conversion Mortgage

Spendthrift Risk & Negative Interest Rates

Shannon HicksSeptember 2, 2019August 30, 2019

by Shannon HicksSeptember 2, 2019August 30, 20191731

Spendthrift homeowners pose a risk I’ll never forget it. As I drove down the wooded driveway I saw it- a 40-foot used RV. I was a bit perplexed as I approached the front door of the couple who had inquired about a reverse mortgage the week before. There was

HECM October Changes- Survey Says

Shannon HicksAugust 26, 2019August 26, 2019

by Shannon HicksAugust 26, 2019August 26, 20191633

Survey shows what HECM pros expect from HUD As the final days of summer pass the collective tension of reverse mortgage professionals increases in anticipation of what changes HUD will make to the federally-insured reverse mortgage program. As August or September bring us the changes for the following fiscal

Lower interest rates have erased most of 2017 PLF cuts

Shannon HicksAugust 19, 2019August 20, 2019

by Shannon HicksAugust 19, 2019August 20, 20194 1074

Record-low LIBOR rates and competitive margins erase most of 2017 PLF reductions Dan Hultquist of Finance of America Reverse returns for another exclusive interview; this time discussing how a record low-interest-rate environment do erase most of the impact of the October 2017 PLF reduction and much more.

HECMs vs. Equity-Sharing

Shannon HicksAugust 12, 2019August 9, 2019

by Shannon HicksAugust 12, 2019August 9, 20190742

Could fractional real estate be the future for older homeowners looking to tap their equity? If you stick around long enough in the mortgage business you’ll eventually see trends repeat themselves. No, we’re not talking about your bell-bottom jeans from 1978, but rather a return of the concept of

The HECM’s outlook to be shaped by 3 factors

Shannon HicksAugust 5, 2019August 7, 2019

by Shannon HicksAugust 5, 2019August 7, 20197 1100

Three factors that will shape the HECM in 2020 What is presently shaping reverse mortgage production today, and what will influence our future? First is the ‘feeder’ of all reverse mortgage endorsements. Before any federally-insured reverse mortgage is underwritten, has funds disbursed or is ultimately insured or ‘endorsed’ it begins

Mitigating Bad Press & Borrower Misfortune

Shannon HicksJuly 29, 2019August 2, 2019

by Shannon HicksJuly 29, 2019August 2, 20190638

Countless problems can been avoided If there’s one fault most salespeople share it is this- a lack of follow up with the borrower after the sale. While many may contact the homeowner after the loan funds, or call to explain the first monthly loan statement- few stay in regular contact

Why is the HECM a niche product?

Researchers present HECM fixes last week

Reforms may hinge on Actuarial Report

Politics, Gridlock & CFPB Enforcement

Industry Leader Update

HUD Secretary committed to HECM changes

BREAKING: Major HECM Changes Announced

Spendthrift Risk & Negative Interest Rates

HECM October Changes- Survey Says

Lower interest rates have erased most of 2017 PLF cuts

HECMs vs. Equity-Sharing

The HECM’s outlook to be shaped by 3 factors

Mitigating Bad Press & Borrower Misfortune

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