Home Equity Grows by $170.7 Billion for Older Homeowners

Home equity levels for homeowners aged 62 and older grew by 2.8 percent in the fourth quarter of 2016 to $170.7 billion, boosting their total housing wealth to $6.2 trillion. The growth in home equity, coupled with a 2.4 percent increase in home values for the same age group, drove the NRMLA/RiskSpan Reverse Mortgage Market … more Home Equity Grows by $170.7 Billion for Older Homeowners

Research Analyses Low Usage of Home Equity Among Retirees

New research from the National Council on Aging and a new Issue in Brief published by the Center for Retirement Research at Boston College show that limited awareness and knowledge of home equity tools contribute to the low take-up of financial products, such as reverse mortgages. Conducted over eight months, NCOA’s research – funded by … more Research Analyses Low Usage of Home Equity Among Retirees

Less than 20 Percent of Americans “Very Confident” About Retirement Savings

Six out of 10 American workers feel very or somewhat confident about having enough money for a comfortable retirement, though just 18 percent feel very confident, according to the 2017 Retirement Confidence Survey by the nonpartisan Employee Benefit Research Institute and Greenwald & Associates. The survey also suggests that many American workers are stressed about … more Less than 20 Percent of Americans “Very Confident” About Retirement Savings

FHA’s Loan Review System to Go Live on May 15

The Federal Housing Administration announced today in Mortgagee Letter 2017-08 that the implementation date for its Loan Review System will be May 15, 2017. LRS will be used to manage Title II Single Family Loan Reviews, Title II Single Family Mortgagee Monitoring Reviews, and Mortgagee self-reporting of fraud, misrepresentation and other material findings. The HECM … more FHA’s Loan Review System to Go Live on May 15

NRMLA Explains Home Equity in Advance of Financial Literacy Month

In advance of Financial Literacy Month, NRMLA today released, “An Introduction to Housing Wealth: What is home equity and how can it be used?,” a three-part article that explains home equity and its uses, methods for tapping it, and the special home equity options available for homeowners aged 62 and older. “Financial Literacy Month is … more NRMLA Explains Home Equity in Advance of Financial Literacy Month

401(k) Plans Providing Less Retirement Income

A new Issue In Brief published by the Center for Retirement Research at Boston College, titled How Has the Shift to 401(k) Plans Affected Retirement Income, finds that employer-sponsored defined contribution plans are providing less income today than in the past. Although theoretical calculations show that participants in 401(k) and other defined contribution plans who … more 401(k) Plans Providing Less Retirement Income

Divorce Rates Climb for America’s 50+ Population

While divorce is less common for younger adults, so-called “gray divorce” is on the rise among U.S. adults aged 50 and older, with the divorce rate doubling since the 1990s, according to new article published by the Pew Research Center, titled Led by Baby Boomers, divorce rates climb for America’s 50+ population. Analyst Renee Stepler … more Divorce Rates Climb for America’s 50+ Population

Latest Data Profile of Older Americans: 2016

The Administration on Community Living published its annual statistical report on America’s aging population, titled A Profile of Older Americans: 2016. The profile covers 15 topical areas including population, income and poverty, living arrangements, education, health and caregiving. Highlights: Over the past 10 years, the population 65 and over increased from 36.6 million in 2005 to 47.8 … more Latest Data Profile of Older Americans: 2016

HMBS February 2017: After January Delirium, February Equilibrium

The HMBS market returned to equilibrium in February, with both new issuance and outstanding float matching previous levels. Issuers created 97 pools in February totaling nearly $713 million. HMBS production was very similar to November and December 2016, but down significantly from January’s $868 million, which included large seasoned pools. The February pools divided into … more HMBS February 2017: After January Delirium, February Equilibrium