$400 Trillion Shortfall

Katherine Chiglinsky of Bloomberg reported this week that longer life spans and disappointing investment returns will lead to a $400 trillion retirement-savings shortfall in about three decades, a figure more than five times the size of the global economy, according to a World Economic Forum report. A shortfall could be reached by 2050, the World … more $400 Trillion Shortfall

Moody’s Rates Nationstar Non-Performing HECM Security

Moody’s Investors Service published ratings for a $325 million residential mortgage-backed security comprised of non-performing Home Equity Conversion Mortgages issued by Nationstar HECM Loan Trust 2017-1. The ratings range from Aaa (sf) to Ba2 (sf), according to a Moody’s Rating Action published on May 24. The collateral for the RMBS includes 1,283 inactive HECMs – … more Moody’s Rates Nationstar Non-Performing HECM Security

Proposed Budgetary Impact on Seniors

NRMLA has compiled a partial list of news articles that summarize the impact that President Trump’s proposed Fiscal Year 2018 budget will have on elderly Americans, including prospective and current HECM borrowers. Trump’s Budget For Seniors: Bad, But It Could Have Been Worse by Forbes.com contributor Howard Gleckman The best that can be said about … more Proposed Budgetary Impact on Seniors

What You Missed at NRMLA West

In case you couldn’t make it to NRMLA’s Western Regional Meeting in Huntington Beach, CA, May 16-17, we invite you to read the following summaries highlighting some of the key presentations. California Association of Realtors Senior Economist Jordan Levine described the economy as being on a strong footing. But he also tempered his remarks by … more What You Missed at NRMLA West

Administration’s Budget Praises HECM and Proposes End to Cap

Recognizing the significant improvements that have been made to the HECM program that reduce risk to the MMI Fund and ensure responsible lending to aging homeowners, President Trump published a proposed Fiscal Year 2018 budget this week that would permanently remove the cap on the aggregate number of reverse mortgages that FHA can insure. The … more Administration’s Budget Praises HECM and Proposes End to Cap

Financial Assessment Looks Better and Better

Financial Assessment is still working, only more so. FHA’s new policy of requiring financial assessment (“FA”) of the borrower’s ability to pay has cut tax and insurance default by nearly three quarters and serious defaults by almost two-thirds. These results are even better than the encouraging data we shared this past February. FHA’s objective for … more Financial Assessment Looks Better and Better

Gallup: Most U.S. Employed Adults Plan To Work Past Retirement Age

Nearly two-thirds of American workers say they plan to work past retirement age, but on a part-time basis, according to Gallup’s Economy and Personal Finance survey, conducted April 5-9. However, fewer Americans said they will work full-time and more of them said they will stop working altogether. When the same survey was conducted in 2011, … more Gallup: Most U.S. Employed Adults Plan To Work Past Retirement Age