Where will the marketing dollars come from?

by Shannon Hicks
| 2 Comments
| February 11, 2013

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Suspension of Standard Fixed & Impact on Marketing Dollars

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That’s a questions many lenders, brokers and independent loan officers are left asking. With the Standard Fixed Rate HECMs no longer available for case numbers issued on or after April 1st…yes April Fool’s day… a prime source of marketing dollars will go away. The Standard Fixed Rate reverse mortgage was not only popular amongst lenders and borrowers but with investors as well.

With the standard adjustable paying less than the fixed it follows that premiums paid for these loans will be less. It is a double-edged sword of marketing dollars and industry volume. With fewer dollars to market with we may see fewer loans this year. Who stands to be impacted the most?

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.

2 Comments

Terri shapiro
February 12, 2013 at 9:14 am
How is the Reverse for purchase going to work when
this goes into effect?
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CLIFF RIDDLE
February 12, 2013 at 10:06 am
WE ARE BEING FORCED TO SELL SOMETHING THAT THE PUBLIC DOES NOT WAN’T AND I WOULD SAY 90% OR MORE L.O.s DON’T BELIEVE IN OR WAN’T,,,,,,,CPA MUST BE RUN BY A BUNCH OF STUPID YOUNG ATTORNEYS WITH RICH FOLKS THAT DO NOT NEED R.M.s,,,,,,THIS IS THE NICEST COMMENT I CAN COME UP WITH,,,,,,CLIFF RIDDLE
#155950
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