Exclusive Interview

by Shannon Hicks
| One Comment
| November 30, 2017

An exclusive interview with Open Mortgage CEO Scott Gordon

The J Curve
Where do we go from here?
Investor perspective

*there is no transcript for today’s episode.

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.

1 Comment

The_Cynic
February 2, 2018 at 6:02 pm
It is interesting how Scott talks about a longer life with a HECM. Yet the life of a HECM will NOT change under Mortgagee Letter 2017-12. It is the same old story once the balance due hits 98% of the maximum claim amount, lenders can either hold the loan until termination or assign it to HUD. Their overall life expectancy should not change in any way.

However, in the secondary market, the lender must purchase the loan from a GNMA security when it reaches the point of assignment. So in the eyes of the secondary market, lower over all accrual rates means the HECM is in the security that much longer. So it is not from eyes of the lender, FHA, the originator, or the borrower, Scott is speaking but rather the eyes of the secondary GNMA investment community although the vlog is directed at us the originating community.

Many times the terminology and concepts expressed by participants in the HECM community show how out of touch they are with originators. This is one example.

So in our eyes the life of a HECM will most likely be only marginally different, if different at all. While in the eyes of the investment community it will in all likelihood be longer. As beauty is in the eyes of the beholder, so is the useful life of a HECM.
- Reply
- Link