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 their loan production as loan profitability collapsed in the secondary markets.
So what may we expect after the coronavirus or COVID-19 crisis is behind us? Our first indicators may be found in the proverbial eye of the storm that lies between the control of the virus’ spread and the anticipated long-term economic fallout in the decade that follows.
Today we examine 3 possible outcomes:
- Fewer property tax deferral programs for seniors
- Economic stagflation
- Technological innovation and adaptation