An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How Freddie Mac is addressing affordable housing challenges

Freddie Mac is focused on addressing limited access to credit, housing inequalities, creation and preservation of affordable housing supply and advancement of homeownership education.

A NAR board member tells (almost) all

For this week’s Houses in Motion, a miniseries that is part of HousingWire Daily, we spoke with Lisa Dunn about the pressing issues in real estate, including disclosure of agent commission.

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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3d rendering of a row of luxury townhouses along a street

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