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Retirement confidence hasn’t fully recovered, but survey shows hope for future prospects

Housing Wire

For the 2024 edition of the survey conducted in January, the methodology included 2,521 Americans — 1,255 active workers and 1,266 retirees. Americans are starting to feel this shift as 28% of workers and 32% retirees who are confident feel that way due to their finances,” EBRI reported.

Finance 346
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What a tech entrepreneur has discovered about reverse mortgages

Housing Wire

A passion for technology led her to work in the fintech and blockchain spaces, and she has now turned her attention to the senior finance space by founding a company called Graceful Finance. What occurred to me is that they’re classic examples of demographics that we are seeing right now, which is [being] incredibly asset rich.

Mortgages 408
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Powell acknowledges concerns about Basel III bank proposal 

Housing Wire

Powell acknowledged the mounting opposition to Basel III from the banking sector, assuring lawmakers of forthcoming broad revisions to the regulatory framework that is aimed at recalibrating risk assessment methodologies and capital reserves.

Banks 375
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CrossCountry adopts FICO Score 10 T for non-conforming loans, MBS issuances

Housing Wire

FICO), the company that retains the rights to the market’s adopted methodology to measure consumer credit risk, launched the updated credit score in 2020 for lenders to have greater precision by incorporating trended credit bureau data when making lending decisions. Fair Isaac Corp.

Loans 423
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What top-performing LOs’ priorities say about the borrower retention problem

Housing Wire

After slowing to a 30-year low in 2023, the gears of housing finance are re-engaging. An industry that fails to prioritize repeat and referral business will naturally come to rely on business development methodologies widely viewed as consumer abuse (think “ trigger leads ”) and may find itself with a credibility problem.

Finance 402
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OneMain Financial to pay $4.25 million to New York State over cybersecurity lapses

Housing Wire

million penalty due to lapses in its cybersecurity controls by “failing to effectively manage third-party service provider risk, manage access privileges, and maintain a formal application security development methodology.”

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FHA increases multifamily large loan threshold

Housing Wire

“We want stakeholders to be able to rely on FHA-insured financing for a wide variety of multifamily transactions, and without unnecessary barriers.” The new ML “includes page revisions to the [Multifamily Accelerated Processing (MAP)] Guide to reflect the new $120 million threshold and the annual review methodology,” the agency said.

Loans 376