Andy Rooney died over ten years ago. Many will say that Bill Mahr has taken his place, albeit with saltier language and a political bent. In this piece, Mahr discusses his thoughts on young people in “Gen Z” and “van life” which I found humorous. It reminds us that we are made up of different generations, and given the snow hitting much of the U.S. it isn’t only your parents that walked through the snow uphill both ways to school. The U.S. Census Bureau has not defined “millennials” but most groups tend to group them into those born between 1981 and 1996, which means the 72 million of them have begun turning 41. By the time 2030 rolls around, all “baby boomers” will be older than 65. It should be of no surprise that reverse mortgages, basically available to homeowners with equity who are 62 and older, are a fast-growing piece of the mortgage landscape. Lenders can’t do anything about an environment where higher mortgage rates are “in the cards,” but they can do things to adjust to it. Along those lines, today’s audio version of the commentary is available here and today’s features an interview with Leo Anzoleaga, SVP of Residential Lending Draper and Kramer Mortgage Corp, on current housing trends and potential implications of rising mortgage rates. And this week’s is kindly sponsored by ActiveComply, making social media monitoring simpler, more compliant, and at a lower cost.) Lender and Broker Services and Products “Are you ready for a Fair Lending examination from the CFPB? By relying on the team of experts at Richey May, you can be. We constantly study industry regulations and work hard to interpret and apply upcoming requirements, ensuring our clients are prepared for the future. A high-level compliance review will reveal organizational issues but can only take you so far. Go deeper with the mortgage specialists at Richey May to not only identify potential fair lending issues, but to also learn how to improve your reporting. Contact our mortgage advisory team today to learn more about how we can help you with our Fair Lending Analysis and Ongoing Monitoring services.”
Source: Mortgage News Daily