This report was compiled from data courtesy of
Reverse Market Insight.
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October 2018 Top 100 HECM Lenders Report
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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.
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Comparing October 2018 endorsements to those of October 2017, this year we experienced a 31.3% drop. Not only that but this is the worst endorsement count for any October since October 2004. It is also the fourth worst month for endorsements since the 10/2/2017 changes now 13 months ago. Since June 6 2018, when RMD and RMI informed us that April 2018 was the nadir for monthly endorsements following the 10/2/2017 changes, only May 2018 endorsements have exceeded the endorsements for April 2018 in the last seven months of endorsements.
It is expected that in the next two months, at least one of those months will have worse endorsement totals than during October 2018. With interest rates expected to climb in the remainder of fiscal 2019, it is not clear how monthly endorsement totals will fare much better than they did last fiscal year. Some of us expect lower endorsement totals for fiscal 2019 than fiscal 2018.
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