Forget home runs... - HECMWorld.com

Forget home runs…

by Shannon Hicks
| One Comment
| August 9, 2018

The real secret to closing more loans is not what you may expect

All the expertise, sales skill, and ability to influence does little to increase sales without one thing…

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
August 9, 2018 at 11:32 pm
The lower the drop in monthly endorsements, the more it seems we get the same admonishing to press the flesh.That is not wrong but there comes a point where most break down. We are seeing that far too often.

The HECM needs better structure with a result that creates little (to no) projected loss for the cohort of HECMs endorsed in a fiscal year. Until that can be achieved, expect endorsement volume disruption due to HUD changes to HECMs in the years to come.

NRMLA claims that it has presented the changes to do that earlier this summer. As long as there are HECM lenders, we will always hear about a brighter future with little substance to back it up.

Do not misunderstand, for those of us still in the industry hard work pays off but not nearly as well as in past years. Shannon is presenting the things that work now. NRMLA is speaking to what it hopes will cause the actuaries and the folks at HUD to arrive at better projected conclusions for outcome of the fiscal 2019 book of business.

Yet without a reworking of the HECM structure all we will have is a bandaged HECM that will result in relatively higher and lower HECM volume in future years.
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