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Financial Assessment

Have You Asked?

Shannon Hicks
Lately there have been several media accounts stating that much confusion remains for HECM borrowers. I have to admit I have some healthy skepticism when the media claims that reverse mortgages are still confusing for borrowers especially since the Home Equity Conversion Mortgage mandates counseling to cover the basic mechanics

The Origin of the Financial Assessment?

Shannon Hicks
The Home Equity Conversion Mortgage has undergone numerous product changes, regulations, new counseling requirements and protocols and reductions to lending ratios. Much like an aging celebrity who has undergone one too many plastic surgeries one may be left wondering does the new HECM even resemble the original product?

A Welcomed Delay

Shannon Hicks
[vimeo id=”120185659″ width=”625″ height=”352″] Delay Grants More Time to Prepare for Assessment Last week our industry received what many consider an early Valentines gift. Feel the love yet? HUD announced that they would be delaying implementation of the financial assessment which was slated to be in force March 2nd, 2015.

5 Things You May Not Know about the Financial Assessment

Shannon Hicks
[vimeo id=”112870126″ width=”625″ height=”352″] Five Take-Aways from the Financial Assessment Two weeks ago today we hosted a national webinar on the Financial Assessment with over 800 participants. Since that time the proverbial dust has begun to settle allowing us to absorb more details for the new way of doing business.

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