Spotlight: New Year, New HECM

It’s a new year, and apparently, it’s a new reverse mortgage. To help us start off on the right foot in 2015, we asked a handful of reverse mortgage professionals about their goals and hopes for the HECM in the year ahead.

Jeremy Shadrick QuickCert Counseling “We have big plans underway for 2015. We will be opening our second branch location offering HECM counseling services in Puerto Rico in January, and our third branch in North Carolina by late spring. Agencies in these areas are overloaded. We are excited to take an active role in these areas and relieve some of the burden on the existing agencies while assisting clients who are in desperate need of services. We have also identified other locations around the country and will be exploring additional branch opportunities in 2015.”

Bart Johnson Premier Home Equity “My goal is to begin to transform the industry by bringing two innovative proprietary home equity release products to market in 2015.”

Michael Kent American Equity Management LLC “Over the past eight months, I have spent a great deal of time talking to and visiting with dozens of small- to mid-size mortgage bankers. Their growth and success stories have been educational and inspiring. A common concern I have heard from these companies is in the area of the increasing levels of regulatory compliance and the potentially high cost of implementation. My goal for 2015 is to re-enter the industry with the hopes of bringing cost-effective solutions to the small- and mid-size mortgage banker in the area of regulatory compliance management. I am also looking forward to reconnecting with my industry friends.”

Shelley Giordano Security One Lending’s Funding Longevity Task Force “At last the 2015 Financial Assessment impels our industry to attract a broader market. My hope is that the average American retiree will be better served by the people they pay for financial advice. Many advisors have ignored, or have been prohibited from discussing, how a Standby HECM Line of Credit is a spectacular hedge against market returns, housing appreciation and rising interest rates. All of which begs the question: Who doesn’t need a backup in retirement?”

Jim Milano Weiner Brodsky Kider  “In 2015, I want to buy a new house. Exercise more (anything would be an improvement). Drink more (water). Improve my penmanship. Apologize to everyone whose feelings I have hurt or whom I have offended in 2014. Have as much enthusiasm as Otto Kumbar, the perseverance of Peter Bell, the humor of Jim Brodsky, the wardrobe of David Peskin, the insight and judgment of Joe Demarkey, the diplomacy of George Lopez, be as good-looking as Reza Jahangiri, acquire a fishing boat better than Jason McNamara’s, and sound as intelligent as Joe Kelly when engaged in public speaking.”

Beth Paterson Reverse Mortgages SIDAC “My goals for 2015 include continuing to share and demonstrate a positive message and facts about the benefits of reverse mortgages to homeowners, professionals and referral sources, sharing with them how this wonderful product can make a difference in the lives of so many. Through my blog and work with the media, I want to improve the product’s image so seniors can make a decision based on facts, not misconceptions. I’m looking forward to 2015 being an exciting year.”

Mark Acchione Quicken Loans “My professional resolutions for 2015: Cultivate healthy business relationships that drive new opportunities in the secondary market and challenge our industry’s traditional thinking through creativity and innovation.”

Glenn Wallace Nationwide Equity Corporation “Having been in the mortgage industry for more than 36 years, I have seen the wild swings of prosperity and scarcity. I expect 2015 to be the beginning of a new age for the reverse mortgage world. While I once thought I would try to phase out of the business, I have been rejuvenated by the opportunity I see on the horizon. Consequently, I plan to work harder and smarter, to learn new ways to reach borrowers and continue to build Nationwide Equities.”

Mike McCully New View Advisors “Ginnie Mae’s efforts to provide loan level data has been terrific, and we plan to continue working with both HUD and Ginnie Mae in 2015 to expand that mandate. My hope for 2015 is that there are no further modifications to the HECM program after FA is implemented. The industry needs a multiyear stretch without change.”

Don Currie HighTechLending “HighTechLending made it into the Top 10 Reverse Lenders in the nation by specializing in converting reverse mortgage brokers into branch partners. This provides them with all the tools necessary to compete on a banking level in the reverse industry. We also cater to mortgage brokers/bankers who want to break into the reverse market without any reverse experience. In 2015, we will continue to aggressively expand our branch platform while also educating brokers on a wholesale level.”

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