DS News

28 HISPANIC HOMEOWNERSHIP GAP IS CLOSING Hispanics are a historically underrepresented market when it comes to homeownership, accord- ing to a recent report released by Freddie Mac. According to the enterprise's figures, only 45 per- cent of Hispanics are homeowners—20 percent lower than the rate of non-Hispanic whites. is gap is getting smaller, though. In 1994, it was nearly 29 percent, while in 2015, it was 26 percent. But is it a trend? In an attempt to trace the homeownership gap between Hispanics and non-Hispanic whites, Freddie Mac compared median age, percentage married, percentage of those that hold a bach- elor's degree. Hispanics' median age is 33, while non-Hispanic whites' median age is 43; accord- ing to the enterprise, this is the most important influencing factor in homeownership rates. Marriage rates are nearly equal, with 51 percent of Hispanics and 53 percent of non-Hispanics being married. Only 14 percent of Hispanics hold a bachelor's degree compared to the 31 percent of non-Hispanic whites who do. According to Freddie Mac, the data suggests "that almost 90 percent of the white/Mexican- origin Hispanic homeownership gap can be attributed to age, immigration attributes, income, and the like. If white/Mexican-origin Hispanic differences in those characteristics narrow over time—if, for example, the difference in the average age of whites and Hispanics of Mexican origin disappears—the gap in homeownership also is likely to narrow. " According to Freddie Mac's metrics, Hispan- ics hail from Spanish-speaking countries and can either be first-, second-, or third-generation immigrants. Over 35 million Hispanics trace their origin back to Mexico, while a little over 5 million trace it to Puerto Rico. Less than 2 mil- lion Hispanics trace their origin to Cuba, and a little under 15 million people identify with other countries in Central and South America . DS News is the only publication in the country solely dedicated to providing default servicing professionals with news and content focused on their industry. SUBSCRIBE NOW! Call 214.525.6766 or subscribe online at DSNews.com. SUBSCRIBE TO THE LEADER IN DEFAULT SERVICING NEWS is the only publication in the country solely DS News is the only publication in the country solely is the only publication in the country solely The increase in high- poverty tracts in the last 15 years. Source: 2017 State of the Nation's Housing STAT INSIGHT 59%

• Cover