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.

Zillow analyst on whether home prices can keep climbing

Today’s episode of HousingWire Daily features an interview with Nicole Bachaud, as she discusses annual and monthly home price appreciation growth, rising inventory levels and rent prices.

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.

Mortgage

Preparing for millions of minority homebuyers

The future is not guaranteed

HW+ housing market

Since day one of my mortgage career, my main role was to help Hispanic borrowers with responsible lending. For the past 21 years, I have been deeply entrenched in truly understanding the unique needs and cultural nuances of homebuyers with diverse backgrounds. Being an active originator helps me keep a pulse on the market and the current issues borrowers face every day on their journey to homeownership.

Minority mortgage-ready millennials

I interact daily with first-time buyers and buyers of diverse backgrounds and continue to help them achieve the dream of homeownership. In my role as national vice president of multicultural lending, I’m involved at a high level with the executive leadership team here at New American Funding, providing input regarding what is really going on at the “street-level” and being the liaison between our sales force and executive leadership.

According to the U.S. Census Bureau, there are now 60.6 million Hispanics in America. That is almost 19% of the entire US population. And according to Freddie Mac, in 2019, there were 8.3 million Hispanic mortgage-ready millennials, or as we like to call them at New American Funding, “Hispennials”. The Hispanic market presents a tremendous business opportunity now and for years to come if approached correctly. Despite the recent COVID-19 pandemic, the Hispanic homeownership rate increased to 49% in 2020, compared to 47.5% in 2019, per the National Association of Hispanic Real Estate Professionals’ 2020 State of Hispanic Homeownership Report.

According to the Urban Institute, all future homeownership growth will come from non-White households, with Hispanics accounting for 70% of homeownership growth over the next 20 years. Per Freddie Mac, in the 31 largest MSAs, there are over 1.7 million Black millennials who would qualify for a mortgage. New York City, Atlanta, Washington D.C. and Chicago each have more than 100,000 Black residents ready for homeownership.

And according to a November 2020 report released by the National Association of Realtors, 5% of homebuyers during the first three quarters of 2020 were Black, compared to 4% in 2019. Despite a 1% increase, U.S. Census data shows Black millennials raised the homeownership rate for African Americans more than 2% over the same time frame. The homeownership rate for Black Americans grew to 47% during the second quarter of 2020 compared to 44% during the first quarter.

This content is exclusively for HW+ members.

Start an HW+ Membership now for less than $1 a day.

Your HW+ Membership includes:

  • Unlimited access to HW+ articles and analysis
  • Exclusive access to the HW+ Slack community and virtual events
  • HousingWire Magazine delivered to your home or office
  • Become a member today

    Already a member? log in

    Most Popular Articles

    These are the hottest housing markets in America

    A housing market report from RE/MAX found that 36 of 51 metro areas had double-digit year over year sale price increases in August. Boise led the way.

    Sep 17, 2021 By

    Latest Articles

    Housing permits hold the key for economic expansion

    Housing permits, for me, is one of the most important housing and economic data lines we have in America. As long as housing permits are moving upward, not only is housing doing ok but the economic expansion is moving along nicely post-1996. HW+ Premium Content.

    Sep 21, 2021 By
    3d rendering of a row of luxury townhouses along a street

    Log In

    Forgot Password?

    Don't have an account? Please