A look at our industry’s growth and the potential economic repercussions of the COVID-19 pandemic Sheltering in place took on a new meaning for HECM lenders in the first weeks of the coronavirus pandemic. Not only did employees and originators shelter at home, but many also hunkered down slowing
Wealth inequality, economic chaos & the role of home equity Wealth and income inequality. Pulling back from the distasteful political debates that continue to rage on about the haves and have nots it is a clear and present reality. The Pew Research Center made these startling findings. “The wealth
Imagine it’s 1956 and you are writing your first 30-year fixed-rate mortgage as a loan officer working for your local bank. It was a historic period in home financing as most mortgages up to that time had 20 year amortization periods until the Federal Reserve began significantly increasing interest rates. In
Why older homeowners should consider a reverse mortgage as the ultimate ‘forbearance’ program Many struggling older homeowners have already paid down their original loan balance significantly. Should they refinance the mortgage into a new 30-year term? Not if they want to eventually stop making payments or expect a drop
The country may be reopening but seniors may shelter in place again. How can you prepare yourself and your business Being the most vulnerable demographic older Americans are rightly concerned of such forecasts and consequently may choose to return to the relative safety of their homes. Older homeowners may
“ If the overall unemployment rate reaches 25%, we project 10.5 million older workers will lose their jobs. For those in the lower half of the earnings distribution, 6.1 million older workers (29%) are projected to be laid off”. That is the stark prediction released by The New School’s Schwartz Center for Economic Policy Analysis.