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.

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Rookie LOs in 2020 could ride the refi wave and rack up a hefty monthly paycheck without Herculean effort. But these days, they'll have to sing for their supper.

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In this episode of HousingWire Daily, Logan Mohtashami discusses several hot topics in the housing market, including recent trends in forbearance exits and future homebuyer demand in the midst of inventory shortages.

Natural disasters and forbearance: What borrowers and mortgage servicers need to know

With a rise in natural disasters, including wildfires, hurricanes, floods, tornadoes and mudslides. The mortgage industry needs to be proactive in examining programs to help borrowers recover.

Mortgage

Senior housing wealth continues to smash records

Older homeowners have amassed an unprecedented $7.14 trillion in home equity

Older homeowners continue to rake in the home equity as home values appreciate across the nation, with the latest data revealing that equity levels for the 62-and-older set grew by $104 billion last quarter.

That brought senior housing wealth to a record-breaking $7.14 trillion in the first quarter of the year, according to a quarterly index published by National Reverse Mortgage Lenders Association and RiskSpan.

The record-breaking total was driven by an estimated 2.4% increase in senior home values, which combined with increase of 0.8% in the senior home-owning population, the NRMLA/RiskSpan Reverse Mortgage Market Index revealed. This figure was then offset by a 1.1% – or $6.5 billion – increase of senior-held mortgage debt.

NRMLA President and CEO Peter Bell said this immense source of wealth highlights the role home equity could play in creating a stable retirement for older Americans.

“Reverse mortgages have become an essential component for addressing a huge problem for many Americans: funding retirement,” said Bell. “More than 1.12 million families have used a reverse mortgage alongside side their 401(k)s, IRAs, savings, investments, Social Security, Medicare and Medicaid to cover life’s daily expenses, so they could live more financially secure lives.”

“As with all major financial decisions, a reverse mortgage should be part of an overall strategic plan, with input from knowledgeable professionals, and family members who may be impacted,” Bell added.

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