According to the 2023 Schroders US Retirement Survey, only ten percent of non-retired Americans say they will wait until age 70 to receive their maximum Social Security benefit … more Survey: Ten Percent of Non-Retirees Plan to Claim Social Security at Age 70
Industry News & Reference
BoA: Hardship Withdrawals From 401(k)s Increased 36 Percent
Bank of America released its Q2 2023 Participant Pulse, which found average 401(k) balances increased by $7,250 (9.6 percent) since the end of 2022. The report also found that a growing … more BoA: Hardship Withdrawals From 401(k)s Increased 36 Percent
Former GNMA President Offers Way to Protect Issuer Liquidity
Ted Tozer, the president of Ginnie Mae from 2010 to 2017 and now a nonresident fellow at the Urban Institute, authored a white paper that offers a way to enhance … more Former GNMA President Offers Way to Protect Issuer Liquidity
Vanguard Publishes Annual Retirement Saving Report
Vanguard recently examined the records of five million clients and released its annual report on the state of the nation’s habits around saving for retirement, which found that … more Vanguard Publishes Annual Retirement Saving Report
CFPB Mentions LO Comp In Latest Supervisory Highlights
The Consumer Financial Protection Bureau (CFPB) released the Summer 2023 edition of its Supervisory Highlights this week, which included a section on loan originator (LO) compensation. In describing … more CFPB Mentions LO Comp In Latest Supervisory Highlights
Americans Challenged With Saving For Retirement and College
Another recent survey, this one from the Society of Actuaries (SOA), found that a significant percentage of American workers and retirees are sacrificing their retirement security to pay for … more Americans Challenged With Saving For Retirement and College
Poll: 1 in 5 Americans Don’t Think They’ll Ever Retire
A recent poll of 1,238 Americans 18 and older conducted by Axios-Ipsos found that many who haven’t yet retired say they are unprepared for retirement, unsure how to prepare, and … more Poll: 1 in 5 Americans Don’t Think They’ll Ever Retire
HUD Updates Processes for HECM Borrower Payments
The Federal Housing Administration today published Mortgagee Letter 2023-15 to improve FHA’s ability to make prompt payments in the event of a mortgagee default and to ensure that HECM borrowers receive … more HUD Updates Processes for HECM Borrower Payments
Should Social Security Invest In Equities?
In a new Issue Brief, researchers at the Center for Retirement Research examined the idea of investing some of the Social Security trust fund’s assets in equities to maintain … more Should Social Security Invest In Equities?
Reverse Mortgages Eligible for Hawaii’s HAF Program
Hawaii Governor Josh Green announced this week that reverse mortgage borrowers are now eligible for the state’s Housing Assistance Fund program, and he increased to $60,000 the maximum amount that eligible … more Reverse Mortgages Eligible for Hawaii’s HAF Program
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