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A Beginner’s Guide to Bitcoin – Infographic
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Daily Archives: April 3, 2020
PAR Files Brief Supporting Lawsuit to Request Governor Designate Real Estate as a Life-Sustaining Business
LEMOYNE, Pa., April 3, 2020 (PRNewswire) The Pennsylvania Association of Realtors® has filed an amicus brief supporting a lawsuit filed against Gov. Tom Wolf today. The lawsuit is on behalf of several businesses, which have been impacted by the arbitrary and unclear rules under the governor’s closure order issued last month in response to the coronavirus.
“PAR is specifically requesting that the governor designate real estate services as a life-sustaining business, as most other states have done,” said Hank Lerner, PAR’s director of law and policy.
“The three essentials to life are food, clothing and shelter and the governor is preventing Pennsylvanians’ ability to gain shelter. Pennsylvania Realtors® are responsible for helping people achieve that shelter but across Pennsylvania, first-time homebuyers, single parents, doctors and other emergency workers may be unable to ‘stay at home’ if they’re not able to secure their new home because of these orders,” said PAR President Bill Festa.
Mike McGee, PAR CEO, added, “Early on, PAR filed for a request for the governor to reclassify real estate services as life-essential. The governor’s waiver process has created inconsistencies in the marketplace and the guidelines of how these requests would be reviewed has changed throughout the process.”
From the start of the pandemic, PAR has asked its members to follow the governor’s orders. The association continues to be committed to working with the state and other related industries to develop a comprehensive safety strategy for moving the industry forward in a way that protects the community and those involved in providing and receiving real estate services.
“The association’s goal is to minimize in-person services wherever possible and follow appropriate CDC guidelines surrounding sanitation and social distancing practices where such in-person services are necessary to allow homebuyers and sellers to be able to attain shelter,” McGee added.
The Pennsylvania Association of Realtors® proudly celebrates its 100th anniversary of representing more than 35,000 Realtors® in the commonwealth of Pennsylvania.
SOURCE Pennsylvania Association of Realtors
Senior Housing Wealth Reaches Record $7.23 Trillion
NRMLA/RiskSpan Reverse Mortgage Market Index Hits All-Time High of 260.52
Washington, D.C. – April 2, 2020 (PRNewswire) Homeowners 62 and older saw their housing wealth grow by 0.5 percent or $39 billion in the fourth quarter to a record $7.23 trillion from Q3 2019, the National Reverse Mortgage Lenders Association reported today in its quarterly release of the NRMLA/RiskSpan Reverse Mortgage Market Index.
The RMMI rose in Q4 2019 to 260.52, another all-time high since the index was first published in 2000. The increase in senior homeowners’ wealth was mainly driven by an estimated 0.6 percent or $55 billion increase in home values, offset by a one percent or $16.6 billion increase of senior-held mortgage debt.
“The responsible use of home equity may be an option to help seniors stay financially secure during the current market disruptions,” says NRMLA’s President Steve Irwin.
About Reverse Mortgages
Reverse mortgages are available to homeowners age 62 and older with significant home equity. They are a versatile financial tool that seniors can use to borrow against the equity in their home without having to make monthly principal or interest payments as with a traditional “forward” mortgage or a home equity loan. Under a reverse mortgage, funds are advanced to the borrower and interest accrues, but the outstanding balance is not due until the last borrower leaves the home, sells or passes away.
To date, more than 1.12 million households have utilized an FHA-insured reverse mortgage to help meet their financial needs. For more information, please visit www.ReverseMortgage.org
About the National Reverse Mortgage Lenders Association
The National Reverse Mortgage Lenders Association (NRMLA) is the national voice for the industry and represents the lenders, loan servicers, and housing counseling agencies responsible for more than 90 percent of reverse mortgage transactions in the United States. All NRMLA member companies commit themselves to a Code of Ethics & Professional Responsibility. Learn more at www.nrmlaonline.org.
About RiskSpan, Inc.
RiskSpan offers end-to-end solutions for data management, risk management analytics, and visualization on a highly secure, fast, and fully scalable platform that has earned the trust of the industry’s largest firms. Combining the strength of subject matter experts, quantitative analysts, and technologists, the RiskSpan platform integrates a range of data-sets–including both structured and unstructured–and off-the-shelf analytical tools to provide you with powerful insights and a competitive advantage. Learn more at www.riskspan.com.
Contact:
Darryl Hicks, 202-939-1784, dhicks@dworbell.com
National Reverse Mortgage Lenders Association