As NeighborWorks America vice president of national homeownership programs and lending, Hoskins leads a team that designs and implements strategies that strengthen the effectiveness and impact of homeownership programs offered by NeighborWorks network organizations. Hoskins has over 25 years of experience in the areas of mortgage banking, loan originations and homebuyer education & housing counseling.
Everyone from homebuilders to mortgage lenders and real estate professionals want to see the homeownership rate increase. These traditional pillars of the market are retooling their products and services and hoping for success. But another, often overlooked, player in the market is reconfiguring its business in order to put more wind in the sales of homeownership.
[Subscribers only] Multigenerational living, where two or more adult generations live under the same roof, is becoming a growing trend in the U.S. Currently about 19% of Americans now live in a multigenerational household, the highest level since 1950. That amounts to about 60.6 million adults in 2014, up from 57 million adults in 2012. And homebuilders have taken notice, designing houses specifically catered to this segment.
Would-be homeowners are inundated with picture-perfect examples of new and remodeled homes brimming with upgrades. But in the real world, homebuilders and investors must calculate the rate of return on these sometimes fleeting trends, weighing what buyers want with what they can actually afford. This feature looks at which features buyers of different age demographics consider the most important, and what that means for sellers.
We’ve found that the handling and posting of payments during bankruptcy has been a widespread issue in our testing environment. Specifically, there is increased risk exposure in pre-and post-petition payment application and treatment, both inside and outside of the bankruptcy plan. Servicers and sub-servicers have created manual workflow workarounds to address the issue, however, it does open the servicer up to more exposure to calculation errors.