In the News

Black Knight: 6.5M borrowers stand to benefit from refi/Half a million could save $500 a month

Source: Housing Wire/Trey Garrison

Between traditional and HARP programs, approximately 6.5 million borrowers could likely both qualify for and benefit from refinancing, according to the latest Black Knight Financial Services Mortgage Monitor Report.Black Knight Data & Analytics Senior Vice President Ben Graboske explained that these refinance opportunities could result in significant monthly savings for qualifying borrowers. “By looking at current interest rates on existing 30-year mortgages and applying broad-based underwriting criteria, we found that approximately 6.1 million borrowers make good candidates for traditional refinancing,” said Graboske. “An additional 450,000 meet HARP-eligibility guidelines. For both groups, the potential monthly savings could be substantial. Some 500,000 American homeowners with a mortgage could save $500 or more each month by refinancing at today’s rates.  More...


In Fair Housing Act Case, Supreme Court Backs 'Disparate Impact' Claims

Source: NPR/Bill Chappell

Civil rights groups won a victory Thursday, as the Supreme Court ruled that claims of racial discrimination in housing cases shouldn't be limited by questions of intent. The court affirmed a Court of Appeals decision in a case in which a nonprofit group, the Inclusive Communities Project, said that the Texas Department of Housing and Community Affairs had contributed to "segregated housing patterns by allocating too many tax credits to housing in predominantly black inner-city areas and too few in predominantly white suburban neighborhoods." The 5-4 ruling endorses the notion of citing disparate impact in housing cases, meaning that statistics and other evidence can be used to show decisions and practices have discriminatory effects — without proving that they're the result of discriminatory intentions.  More...


Report:  State of the Nation's Housing

Source: Joint Center for Housing Studies of Harvard University (JCHS)

The State of the Nation’s Housing 2015 was released by live webcast from the Ford Foundation in New York on Wednesday, June 24 at Noon (Eastern). The webcast featured a panel discussion and viewers were able to tweet questions using the hashtag #harvardhousingreport to the panelists. The State of the Nation’s Housing, released annually by [JCHS], provides a periodic assessment of the nation’s housing outlook and summarizes important trends in the economics and demographics of housing. The report continues to earn national recognition as an authoritative source of information regularly utilized by housing researchers, industry analysts, policy makers, and the business community. More...


Explosion in Senior Households by 2030 Demands Housing and Community Adaptations

Source: Urban Institute

[The Urban Institute's] recent analysis of housing trends underscores that we’re due for dramatic growth in senior households over the next few decades. In 1990, there were 20 million households aged 65 and up; by 2010, this number had grown to 25.8 million, and by 2030, we project that aging Baby Boomers will expand the number of senior households to 46 million. This dramatic growth will occur among both senior homeowners and renters. Our research suggests that from 2010 to 2030, senior homeowners will increase from 20 million to almost 34 million, and senior renters—who include both homeowners who will shift to renting and baby boomers who already rent—will increase from 5.8 million to 12.2 million.  More...


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