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.

In a purchase market, rookie LOs may struggle

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.

Logan Mohtashami on trends in forbearance exits

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.

Real Estate

Millennial homebuyers are trickling into the market. Where are the rest?

What's taking so long?

young family buying a home

The common refrain is that millennials are spending all of their money on avocado toast, which means they can’t afford to buy a home. Right?

Yeah, not so much. While millennial spending habits may be a contributing factor, their inability to buy a home can also be blamed on a lack of savings, rising student loan and credit card debt, and homes being unaffordable.

The self-proclaimed “broke” generation is trying to be smarter about the housing market, but it’s difficult for quite a few potential homebuyers.

One issue is student loan debt, which is now the second-highest consumer debt category – behind only mortgage debt – and higher than both credit cards and auto loans, according to a report from Forbes. There are 45 million borrowers who collectively owe more than $1.5 trillion in student loan debt in the U.S.

Borrowers in the class of 2017 owe $28,650 on average, according to the Institute for College Access and Success. That debt load is making it harder for potential buyers to become actual buyers.

In an interview with HousingWire, Odeta Kushi, deputy chief economist at First American Financial, said that student loan payments are about 3% of the average millennials’ income.

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