Know Thy Customer

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Beyond Fact-Finding to Motivations

The traditional Home Equity Conversion Mortgage Transaction typically goes like this: potential borrower sees advertisement, homeowner contacts lender, loan officer gathers information, takes the application and the loan hopefully closes. In years past the approach generally was successful as many if not most of our borrowers had a substantial financial need motivating them to pursue the HECM loan in the first place.

Today that has all changed.

The recent enactment of the Financial Assessment has pushed the HECM more toward the spectrum of…

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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.