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Steve is a wealth of knowledge when it comes to mortgage banking and our industry. See what he has to say about upcoming regulation and what our industry must do now and in the coming years. Watch the video for more details.
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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.
1 Comment
Shannon,
Great interview!!
Mr. McClelland has a great attitude about putting the senior first. I loved the fact there was not one word about education. It was all about the senior.
Many in the industry are so lost in the education issue they have forgotten our first objective and that is caring for the senior. If we educate because we care about those we serve it will show up in the content of our education and how driven we are to learn.
In my college education I had several profs who had TAs just so there was a cushion between those they taught and themselves. I have read comments over the last few months about the importance of education and yet those same commenters never once spoke about caring for the senior.
I will never forget the fall of 2007 when two different margins were being offered on the monthly adjusting but the expected interest rate on each was still “under the floor.” At a meeting one of our biggest producers jumped up and told us he could sell the higher rate because after all the seniors would make more money from the line of credit that way. When asked about paying it back, he said: “Oh don’t worry about that. It is all in how you educate the borrowers.” That producer was not with us for even a year.
I would rather be putting the senior first and selling with transparency than “educating” seniors into a fog. If we are putting the interests of the seniors first, our educational presentation will show it.