Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News The Best Markets For Residential Property Investors 2 days ago Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Senior Housing Wealth Reaches Record $7.82 Trillion Share Save Demand Propels Home Prices Upward 2 days ago January 15, 2021 805 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Forbearance Volume Dips as Expirations Loom Next: FHFA, Treasury Announce Changes to GSE Regulations HECM National Reverse Mortgage Lenders Association New View Advisors Reverse Market Insight senior housing wealth 2021-01-15 Phil Hall Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: HECM National Reverse Mortgage Lenders Association New View Advisors Reverse Market Insight senior housing wealth Subscribe About Author: Phil Hall Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Homeowners who were 62 and older enjoyed a 1.6% increase in their housing wealth during the third quarter of 2020, according to the new data report from the National Reverse Mortgage Lenders Association (NRMLA)/RiskSpan Reverse Mortgage Market Index (RMMI).During the third quarter, the RMMI determine that seniors’ housing wealth increased by $121 billion from the second quarter to hit a new record of $7.82 trillion. The RMMI rose during the third quarter to 280.99, its highest level in the 20-year history of the index.The NRMLA primarily attributed this increase in senior homeowner’s wealth to an estimated $149 billion quarterly increase in senior home values, a 1.6% uptick, which was offset by a 1.6% or $28 billion increase in senior-held mortgage debt.“The reverse mortgage marketplace has greatly expanded over the past year to include more private-label products that offer consumers more options and greater flexibility compared to the FHA-insured Home Equity Conversion Mortgage,” said NRMLA President Steve Irwin. “While the HECM still accounts for over 90% of the market, we expect private-label reverse mortgage distribution channels to expand over time.”The new RMMI numbers follows a data report from earlier this week by Reverse Market Insight (RMI) that found Home Equity Conversion Mortgage (HECM) endorsements were up 15.1% year-over-year in December to 4,097 loans. For the calendar year 2020, HECM volume recorded an annualized increase of 37.5% to 44,661 loans. Eight of the 10 regions tracked by RMI recorded strong growth during December, led by New England’s 59.5% upswing to 118 loans, the Rocky Mountain region’s 28.9% rise and the Northwest/Alaska region’s 18.7% increase.Also this week, data compiled by New View Advisors showed HECM-backed securities (HMBS) issuances reached $1.2 billion for December and ended 2020 at $10.6 billion in total issuance. The record level for these issuances is the $10.8 billion mark set in 2018. Home / Daily Dose / Senior Housing Wealth Reaches Record $7.82 Trillion
HOUSTON (AP) — A federal appeals court has ruled that the U.S. government could resume expelling immigrant children who cross the southern border unaccompanied by a parent. The U.S. Court of Appeals for the District of Columbia Circuit’s stay of a lower court ruling allows President Joe Biden’s administration to resume expulsions begun by former President Donald Trump under a public health policy citing the COVID-19 pandemic. The appeals court issued a stay on Friday that had been requested by the Trump administration shortly after a federal judge in November barred the practice.
Nova Innovation has been awarded a grant of £265,000 by Cronfa Cymunedau’r Arfordir (Coastal Communities Fund) to help to establish its operations in Wales. The funding, which will be spread over a three-year period, will help to support four full-time posts in North Wales and the establishment of a turbine assembly facility.Nova is currently developing two tidal energy projects in Wales – at Enlli (Bardsey Sound) on the Llyn peninsula, where the company is working closely with community group YnNi Llŷn, and at the Morlais Demonstration Zone off Anglesey.Cronfa Cymunedau’r Arfordir (Coastal Communities Fund), Joseph Kidd, Nova Innovation Commercial Manager, said: “This grant will help Nova make a real investment in local jobs and the local supply chain in north Wales. Tidal energy has a vital role to play in Wales’ energy mix and can be a real catalyst for the regeneration of coastal communities. Creating jobs and developing local manufacturing is all part of that in our view.”Brian Thomas, Chairman of YnNi Llŷn, added: “We welcome this funding as it will support the creation of new jobs in north Wales. We are excited to be working with Nova and this will help accelerate the projects we are developing together, whilst acting as a catalyst for wider economic development in the region.”Nova already has a presence in Wales at the Marine Energy Hub in Pembroke Dock, and it has taken on experienced marine energy specialist Joseph Kidd to lead on Nova’s developments in Wales.The focus now for Nova is on establishing an operational presence in north Wales and building the team to deliver the projects, the company said.