The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

MortgagePolitics & Money

How do we make real progress on the homeownership gap?

What can the HUD secretary do to help?

Secretary of Housing and Urban Development Marcia Fudge delivers remarks during a press briefing at the White House in Washington
Secretary of Housing and Urban Development Marcia Fudge delivers remarks during a press briefing at the White House in Washington, U.S., March 18, 2021. REUTERS/Carlos Barria

First, let’s set the record straight. Homeownership is critical to wealth creation, especially for establishing intergenerational wealth in America. When looking at net worth, even considering the fact that there can be periods of volatility, the ability for Americans to own a home has proven to be the best method for establishing a financial reserve for passing onto the next generation and to tap into for other financial needs.

The debate that has occurred over the decades about renting vs. owning is answered with data. But it is true, not all should own or perhaps are able to own. But if you are able own a home, can qualify and commit to ownership, there is a strong argument to support doing so.

One of the conundrums of homeownership is that it is limited to certain individuals meeting the necessary criteria. Unfortunately, in the U.S., these limits often reflect the ethnic divides that make up the nation. Today, white non-Hispanic homeownership rates are above 70%, while Hispanic and Black rates sit in the sub 50% levels. For Black homeownership in particular, there has been little improvement in the homeownership rate at all.

I would argue that public policy has actually eroded the strength of forceful leadership needed to make any dent in this area.

An effort to address this gap is once again being discussed by the new administration. President Biden, in fact, had a plank in his campaign calling for a $15,000 first-time homebuyer tax credit. The proposal has been met with resistance in a variety of policy arenas where the debate over the lack of single-family inventory for sale raises concerns that a tax credit would simply exacerbate the already challenging environment that some argue is artificially inflating home values.

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