The next wave of servicing regulation is coming – Are you ready?

Join this webinar to learn what servicers need to know about recent and upcoming servicing compliance regulations and strategies experts are implementing to prepare for servicing regulatory audits.

Inside Look: RealTrends 2021 Brokerage Compensation Study

Steve Murray, senior advisor to RealTrends, gives an exclusive first look at the 2021 RealTrends Brokerage Compensation Report.

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As compliance becomes an increased focal point for mortgage lenders and investors, staying ahead of state and federal regulations can be the difference between a flourishing business and one mired in fines.

Mortgage

Millennials can only afford 135 square feet of housing in San Francisco

Strong job growth won't help these young borrowers

San Francisco is infamous for being overly competitive and obscenely expensive, and the reality of how expensive it is for Millennials just sunk in further, thanks to a new report.

According to an article in the San Francisco Business Times, “The typical San Francisco millennial can only afford to buy 135 square feet of housing, the lowest buying power in the country, according to personal finance company SmartAsset.”

From the article:

Despite the city's strong job growth and its reputation for well-paying tech jobs for young engineers, wages haven't kept up with soaring property values. This year, San Francisco's median home price exceeded $1 million.

As is, it’s tough for Millennials to get a mortgage. A recent article in Business Insider, explained that Millennials are not making as much as their parents were when they were young, and on top of that, they are dealing with an overload of student debt. 

And on top of that, San Francisco is already a difficult city for most people to afford, recently coming in as the hottest market in the country. 

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