HELOC, HOA Lien Monitoring, AI, Developer Platform Tools; Webinars and Training

The gap between where rates are and where households “need them to be” is suppressing labor mobility, distorting retirement decisions, and reshaping expectations about generational wealth building: 56 percent of working Americans have either turned down a job requiring relocation or say they would, and 20 percent have already turned down a job, promotion, or career opportunity because it required moving. LOs will tell you that the attachment to low rates is behavioral, not just financial. Polls show that the majority of homeowners with mortgages would consider moving if they could transfer their current rate, and a portion of those would move immediately. Generational wealth expectations have shifted, with the minority of Americans believing their children will ever be able to afford a home. If you recall, this year’s State of the Union Address did not include proposals for housing construction, zoning reform, first-time buyer credits, or changes to housing finance policy, and this data helps explain why rate drops alone won't be enough. It is hoped that Trump administration moves before the midterms will shift the landscape. (Today’s podcast can be found here and this week’s ‘casts are sponsored by NFTYDoor, the white-label HELOC platform for banks, credit unions, and brokers. Close in zero days with warehouse funding. Power your home equity lending with NFTYDoor. Today’s features an interview with THE David Lykken on transformation in mortgage lending over the past five-plus decades, as well as lessons on leadership.)