DS News Webcast: Wednesday 3/20/2013

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago 2013-03-20 DSNews Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 20, 2013 643 Views The Best Markets For Residential Property Investors 2 days ago  Print This Post Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: DSNews Home / Featured / DS News Webcast: Wednesday 3/20/2013 Coverage:- CoreLogic: 200K Homeowners Rise Out of Negative Equity in Q4- Senate Committee Approves Nomination of Cordray />For More Information, Check Out dsnews.com Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Media, Webcasts Sign up for DS News Daily Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Hope LoanPort Platform Enables Seamless Servicing Transfers Next: Freddie Mac Files Suit Against 12 Banks Over Libor Scandal Servicers Navigate the Post-Pandemic World 2 days ago DS News Webcast: Wednesday 3/20/2013 Subscribelast_img read more

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Housing and Mortgage Outlook: Expect Declines in 2014

first_img January 22, 2014 1,023 Views About Author: Krista Franks Brock Housing and Mortgage Outlook: Expect Declines in 2014 Sign up for DS News Daily Tagged with: Delinquency Rate Fitch Ratings Foreclosure Timelines Home Prices Mortgage Rates Shadow Inventory Demand Propels Home Prices Upward 2 days ago Delinquency Rate Fitch Ratings Foreclosure Timelines Home Prices Mortgage Rates Shadow Inventory 2014-01-22 Krista Franks Brock Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Following a year of fast-paced appreciation, Fitch Ratings expects home price gains to slow to a more moderate pace in 2014 in the United States, according to its Global Housing and Mortgage Outlook released Tuesday. The ratings agency also predicts mortgage volume will decline and delinquencies and shadow inventory will decrease, albeit slowly, while liquidation timelines continue to rise.Home prices will continue to rise on the winds of “market momentum, the effects of inflation, the improving economy, and a return of buyers attracted by signs of stabilization,” according to Fitch.However, rising mortgage rates and increasing inventory will temper price gains this year, the ratings agency said in its report.At a national level, prices are about 15 percent overvalued, according to Fitch. A few markets in western states are leading this trend with home price growth outpacing income and other economic factors. For example, price-to-rent and price-to-income ratios in San Francisco have risen almost 25 percent since early 2012, Fitch explained.Because of these trends, “Fitch remains concerned about regional overvaluation,” the ratings agency stated in its report.While affordability remains high overall, Fitch says affordability will slip somewhat this year. One contributing factor is rising mortgage rates, which will likely reach 5 percent in 2014, according to Fitch’s predictions. The ratings agency says rising interest rates will also contribute to “a substantial decrease” in lending this year.Prepayments will “remain at lower levels than historical averages for the next several years” as interest rates rise and refinances become less favorable, according to the ratings agency.On the other hand, purchase loans will grow over the next few years, Fitch said, adding that the government will “continue to dominate market issuance through Fannie Mae and Freddie Mac.”Although “a return to historic levels of arrears is not expected in the near future,” Fitch noted that recently-originated loans are performing strongly.Long liquidation timelines, especially in judicial states, mean today’s shadow inventory will be slow to dissipate. While the industry’s shadow inventory will continue its current pace of decline for several years, Fitch says it will take about five years to work through the current volume of homes that make up the shadow inventory.Housing starts have begun to pick up, and Fitch expects them to continue to rise, but they will be vulnerable to price corrections.While U.S. prices will continue to rise this year, Fitch expects home prices in its northern neighbor to remain flat or fall slightly. This is due to Canada’s “cautious lending policies driven by government measures,” the ratings agency explained.Fitch harbors a mostly favorable outlook for the housing markets in all 17 countries covered in its Global Housing and Mortgage Outlook.  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Featured / Housing and Mortgage Outlook: Expect Declines in 2014 Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. center_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Foreclosure, Headlines, Loss Mitigation, Market Studies, News, REO, Secondary Market, Story Crawl Previous: Stewart Continues Expansion of Capital Markets Group with Hiring of New Director Next: CFPB Averts Costly Closing Delays with Revisions to Final Disclosure Rule Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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Freddie Mac’s Mortgage Portfolio Experiences More Expansion to Start 2016

first_img Demand Propels Home Prices Upward 2 days ago Previous: Was Watt’s Speech the Beginning of the End for the Conservatorship? Next: DS News Webcast: Thursday 2/25/2016 The Best Markets For Residential Property Investors 2 days ago Freddie Mac’s Mortgage Portfolio Experiences More Expansion to Start 2016 February 24, 2016 1,276 Views Tagged with: Freddie Mac Monthly Volume Summary Mortgage Portfolio Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago Related Articles Subscribe Freddie Mac Monthly Volume Summary Mortgage Portfolio 2016-02-24 Brian Honea Share Savecenter_img Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Freddie Mac’s total mortgage portfolio expanded at a compound annualized rate of 1.6 percent for the full year of 2015 and picked up in 2016 where it left off—by expanding at annual rate of 1.6 percent in January 2016, according to Freddie Mac’s January 2016 Monthly Volume Summary released Wednesday.January marked the 11th time in the last 12 months that the total mortgage portfolio expanded for Freddie Mac. Its value after January’s expansion totaled $1.944 trillion, having increased by about $36 billion since January 2015.Freddie Mac’s mortgage-related investments portfolio expanded for the second straight month in January following eight straight months of contraction. In January, it grew at an annual rate of 9.6 percent after December’s expansion of 6.7 percent.For the full year of 2015, the mortgage-related investments portfolio contracted at a rate of 15.1 percent. As of the end of January, the portfolio’s value stood at $349.6 billion, an increase of nearly $3 billion from the previous month and still slightly higher than the 2016 cap of $339.4 billion.The serious delinquency rate on mortgage loans backed by Freddie Mac, took an unusual turn upward in January, moving up to 1.33 percent after the 0.1 percentage point. The number of loan modifications completed on Freddie Mac-backed loans in January was 3,474, down from 3,823 in December and down from the monthly average for 2015 of 4,491.In January, Freddie Mac’s single-family refinance loan purchase and guarantee volume was $11.9 billion (down from $12.9 billion in December), which represented 53 percent of Freddie Mac’s total single-family mortgage portfolio purchases or issuances (up from 52 percent in December). Relief refinance mortgages comprised about 9 percent of the Enterprise’s total single-family refi volume during the month of January, up from 8 percent in December.Click here to view Freddie Mac’s full monthly volume summary for January. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Home / Daily Dose / Freddie Mac’s Mortgage Portfolio Experiences More Expansion to Start 2016 Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Secondary Marketlast_img read more

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New Treasury Secretary Announces Ambitious Goals

first_img Share Save Dodd-Frank Mnuchin Tax Code Treasury 2017-02-23 Sandra Lane Steven MnuchinThe recently confirmed Secretary of the Treasury, Steven Mnuchin, today announced his ambitious goals for a U.S. tax-code overhaul by August. He also wants to deliver economic growth at rates not seen in more than a decade, according to the Wall Street Journal. He said that the slower economic growth since the financial crisis had primarily been an anomaly and a result of Obama administration policies that can be reversedIn his first television interview since assuming office, he told CNBC that “We want to get this done by the August recess. We’ve been working closely with the leadership in the House and the Senate, and we’re looking at a combined plan.” However, experts believe that this is unrealistic considering the fact that lawmakers already have a complex agenda to deal with.President Donald Trump has repeatedly made promises for tax reform and regulatory cuts since he took office without giving many details. Mnuchin said the administration is “primarily focused on a middle income tax cut and a simplification for business.” He reiterated what he told CNBC in November that he is focused on any tax cuts for the wealthy being canceled out with closed loopholes.The new Treasury Secretary said the administration still aims for “sustainable growth of 3 percent or more.” He said he expects to hit that mark more toward the end of next year.Mnuchin said the tax plan should not necessarily be judged by how much the United States tax revenue drops but by how much economic growth the reform could create. Critics on both sides of the aisle have raised concerns that the plan would not be revenue neutral, meaning that any tax cuts are canceled out by closing existing loopholes.Steven Mnuchin was confirmed as Treasury Secretary on February 13.During Mnuchin’s confirmation hearing, Senate Finance Committee Chairman Orrin Hatch (R-Utah) went to bat for him, saying claims that his businesses helped precipitate the 2008 financial crisis were “lacking in merit.” Mnuchin, 54, is a hedge fund manager, former Goldman Sachs partner, and former executive with IndyMac and OneWest Banks.When nominated for Treasury Secretary in November, Mnuchin said at that time that he would end the government’s controversial conservatorship of Fannie Mae and Freddie Mac. “We will make sure that when they are restructured, they are absolutely safe and don’t get taken over again. But we’ve got to get them out of government control,” according to Bloomberg.However, in today’s interviews, when CNBC asked Mnuchin about his plan for Fannie and Freddie, he stayed fairly vague on the issue. “It’s something I’ve already started working on,” he said. “I met with Mel Watt this week. I had a very good conversation. I’ve met with Jeb Hensarling, and we’ve talked about various different issues.”As discussed in Benzinga, Mnuchin reiterated that the administration is committed to housing reform, suggesting that Fannie and Freddie shareholders will likely have some form of resolution within the next four years. “They’ve been sitting there for too long of a period of time, and we need a solution. We’re going to look at this. I think this will be one of the areas where hopefully we will have a bipartisan solution. I think there’s a lot of people that share the view that we need to do something with them,” Mnuchin said.“This is something we’re going to study carefully, so I don’t think you’re going to see something right away from us, whereas tax reform is a near-term issue. But this is definitely on the agenda,” Mnuchin concluded. The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Dodd-Frank Mnuchin Tax Code Treasury Sign up for DS News Daily New Treasury Secretary Announces Ambitious Goals February 23, 2017 1,291 Views in Daily Dose, Featured, Government Sandra Lane has extensive experience covering the default servicing industry. She contributed regularly to DS News’ predecessor, REO Magazine, from 2004 to 2006, covering local market trends, the effects of macroeconomic shifts on market conditions, and “big-picture” analyses of industry-driving indicators. But her understanding of the mortgage and real estate business extends even beyond those pre-crisis days. She is a former real estate broker and grew up in what she calls “a real estate family.” A journalism graduate of the University of North Texas, she has written articles for various newspapers and trade journals, as well as company communications for several major corporations. Servicers Navigate the Post-Pandemic World 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago  Print This Post Previous: Black Knight Financial Releases Latest Foreclosure Findings Next: Home Values Stay Strong Despite Rising Rates Home / Daily Dose / New Treasury Secretary Announces Ambitious Goals Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Sandra Lane Subscribelast_img read more

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What Might a GDP-Targeted Monetary Policy Look Like?

first_imgHome / Daily Dose / What Might a GDP-Targeted Monetary Policy Look Like?  Print This Post Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] What Might a GDP-Targeted Monetary Policy Look Like? Demand Propels Home Prices Upward 2 days ago Related Articles Fed FOMC GDP Janet Yellen Monetary Policy 2017-09-14 Joey Pizzolato Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: NAR: Don’t Harm Homeownership Common Interests Next: Ginnie Mae Responds to Senator Warren on VA Lenderscenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 14, 2017 1,156 Views About Author: Joey Pizzolato in Daily Dose, Featured, Government, Headlines, Market Studies, News There has been much speculation regarding the future of the Federal Reserve and the Federal Open Market Committee (FOMC) lately—and these questions are widely known amongst the mortgage and banking industries—will FOMC Chair Janet Yellen serve another term, when will the Fed once again raise interest rates to facilitate its goal of reducing its balance sheet?But a new Bloomberg Opt Ed proposes a different question: what if new and inevitable changes to the FOMC result in a change in monetary policy that favors gross domestic product rather than inflation and unemployment rates?When Federal Reserve Vice Chair Stanley Fischer announced his pending resignation in October, more than eight months prior than when his term was set to end, he left four of the seven seats on the board vacant. And although Randal Quarles, a former banking executive, was confirmed by a Senate Banking Committee vote of 17-6, his position still awaits a full Senate vote, which has not yet been scheduled.These factors, combined with current Fed Chair Janet Yellen’s term expiring in February of 2018, leave open the opportunity for big changes in the Fed and its current stance on monetary policy.So, how would monetary policy change if focus is shifted towards GDP? According to the author:First, the Fed would have to address remittances to the Treasury Department and the interest it pays to banks on excess reserves. The Fed currently transfers the interest income from the government securities it has purchased through open market operations to the Treasury.Another suggestion would be:The Fed credit the Treasury’s account at the central bank with reserves instead of remitting it back the interest the central bank receives from its bond holdings. In return, the Treasury would pledge Treasury bills as collateral, allowing it to spend the reserves any way it sees fit. The Fed and Treasury could strike a new “accord” whereby reserves from the banking system fund public-private partnerships for infrastructure spending. With tax reform and deregulation, a business-friendly environment could generate the needed investment and boost productivity.Of course, all of this depends on the outlook of Yellen’s replacement, who, by all intents in purposes, could be appointed to a second term. As Bloomberg reports, a total of six people have found themselves in the public eye to fill the Yellen’s chair at the end of her term, each with their own economic theories. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fed FOMC GDP Janet Yellen Monetary Policy The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

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An Eye on Real Estate Closings

first_imgEditor’s Note: This feature originally appeared in the January issue of DS News. Georgia has traditionally been hawkish with regard to ensuring that real estate closings are conducted by Georgia licensed attorneys. This was made clear by the Supreme Court of Georgia’s 2014 adoption of the Formal Advisory Opinion No. 13-1 (FAO), which attacked “witness-only” closings. These “witness-only” closings occur when an attorney is mailed loan documents, advised not to review or provide legal advice regarding the documents, and then instructed to oversee the execution of the documents and mail them back to the lender.The Supreme Court of Georgia found that “when a closing lawyer purports to act merely as a witness” they are in violation of Georgia’s ethical rules governing attorneys. This FAO also suggests that only Georgia attorneys can prepare deeds for other people. Perhaps this is because for almost 90 years it has been the law in Georgia that only Georgia attorneys can provide an opinion as to the status of the title to real property. (See O.C.G.A. § 15-19-53.)Shortly after this FAO was published, Georgia’s legislature proposed a revision of Georgia’s code to provide “regulation of the practice of law, so as to authorize certain activities involving real estate transaction [and] to provide for a civil action for damages” stemming therefrom. [See 2015 Georgia Laws Act 76 (H.B. 153).] The most relevant portion of this law was codified as O.C.G.A. § 15-19-60. It provides that any consumer damaged by a violation of Georgia’s laws regarding the unauthorized practice of law can seek damages caused by the violation. There are several important parts of this code that require the attention of anyone authorizing or conducting mail-away closings.First, if the consumer is damaged as a result of the unlicensed practice of law, it can “recover damages, treble damages, reasonable attorney’s fees, and expenses of litigation.” Second, it provides that this right can be enforced by “a trustee of a consumer debtor in a bankruptcy case …” Through a series of cases, Georgia’s Chapter 7 Trustees have made clear that if a security deed is not executed as required by Georgia law, it can be set aside by the Trustee and sold for the benefit of the bankruptcy estate. This, in turn, would cause the debtor to lose its home. In other words, it would damage the debtor.Notably, the average home loan in Georgia has a balance of $169,990. In a September 2018 article entitled “Bankruptcy Watchdogs Push Congress for a Raise,” the Wall Street Journal explained that the “low pay [for Chapter 7 Trustees] and drop in [bankruptcy] filings have driven trustees to be more aggressive in an attempt to boost their compensation.” Thus, there is a large incentive for a Chapter 7 Trustee to pursue these types of claims. Let’s assume, hypothetically, that a lender completes a home loan transaction through a mail-away process that involves a Georgia attorney who is only acting as a witness as to the execution and the security deed is not properly executed, as required by Georgia law. The borrower then files a Chapter 7 bankruptcy.The Chapter 7 Trustee could file an adversary proceeding to set aside the security deed, making the lenders claim unsecured and reducing the payout received on the loan. If this is not bad enough, the Chapter 7 Trustee could then bring an action under O.C.G.A. § 15-1960 against the lender, seeking damages, treble damages, and attorneys’ fees and costs. The one saving grace here is that there is, at most, a four-year window from origination during which this claim can be brought. [Williams v. Wells Fargo Bank, National Association, 2017 WL 1807601, *5, No. 4:16-CV-0005-HLM-WEJ (N.D. Ga. Jan., 6, 2017)]. In any event, a lender conducting mail-away or witness-only closings in Georgia may want to explore their potential liability under this code section, or possibly risk substantial losses. Kelsey Grodzicki is the Managing Attorney of the Litigation and Trial Practice and Default Departments of Campbell & Brannon, LLC, where he oversees the litigation, foreclosure, bankruptcy, eviction, and title curative departments. His primary practice areas include real estate, business, and contract litigation, mortgage servicing and foreclosure litigation, bankruptcy litigation, landlord-tenant litigation, and non-judicial foreclosures. He represents clients in a wide variety of complex civil litigation and bankruptcy matters involving contract disputes, real estate and quiet title actions, and lien priority actions. Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily January 21, 2019 4,805 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago An Eye on Real Estate Closings  Print This Post Share Save Previous: Millennials Buy Into the American Dream Next: Waters Asks How Financial Industry Is Softening Shutdown Impact Servicers Navigate the Post-Pandemic World 2 days ago About Author: Kelsey Grodzicki Subscribe Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Georgia witness-only closings 2019-01-21 Donna Joseph Home / Daily Dose / An Eye on Real Estate Closings in Daily Dose, Featured, Print Features The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Georgia witness-only closings Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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Affordability: Renters vs. Owners

first_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Affordability Home Ownership Millennials Rental Subscribe  Print This Post Previous: Housing Costs Are Keeping Americans Awake at Night Next: The Booming Built-For-Rent Market Homeowners and renters alike are facing affordability issues, according to a new survey from Freddie Mac. According to the GSE’s “Profile of Today’s Renter and Owner” study, over half of Americans are making spending or housing changes to afford their monthly housing payment. Additionally, 44% of renters and 35% of owners who had trouble affording their housing payment over the last two years reported having to move to afford housing costs.Still, the majority of both renters and homeowners believe their current situation is the most affordable option for them, but the idea that renting is more affordable than ownership is on the rise. Freddie Mac’s survey of around 4,000 households found that 82% of renters view renting as more affordable than homeownership, up 15 points from February 2018.However, renters are the most likely to be const-burdened. According to the survey, 34% of renters spend more than one-third of their income on rent, while only 25% of homeowners spend that much on their mortgage. The biggest obstacle preventing many renters from becoming homeowners, specifically low-income renters, is the down payment and closing costs. Around 88% of low income renters said the down payment and closing costs would be their biggest hurdle, compared to 72% of middle income renters. Many Americans have had to cut costs to afford housing, including 62% of renters and 47% of homeowners. Over half of renters, 55%, reduced spending on non-essential items such as entertainment, compared to 52% of owners. For younger homeowners and renters, student loans have had an impact on affordability, especially among renters. Freddie Mac found that 51% of younger millennials (aged 23-29) who rent had to make a different housing choice because of student loans, compared with 38% of younger millennials who own a home. Among older millennials (aged 30-38), the survey found 41% who rent and 36% who own experienced the same phenomenon.Additionally, over half of workers employed in the essential workforce, serving in crucial positions like healthcare, education and law enforcement, have made housing decisions with their student loan repayment obligations in mind. This includes 51% of owners and 53% of renters working essential jobs. Affordability Home Ownership Millennials Rental 2019-06-27 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welborn Sign up for DS News Daily Affordability: Renters vs. Owners Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Affordability: Renters vs. Owners June 27, 2019 954 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Related Articles Demand Propels Home Prices Upward 2 days agolast_img read more

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30-Day Delinquencies at Lowest Rate Since 1979

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 11, 2020 1,455 Views Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Market Studies, News About Author: Christina Hughes Babb Previous: The ‘Unclear’ Future of the Community Reinvestment Act Next: Anticipating 2021’s Ups and Downs The Best Markets For Residential Property Investors 2 days ago 2020-11-11 Christina Hughes Babb Home / Daily Dose / 30-Day Delinquencies at Lowest Rate Since 1979 Demand Propels Home Prices Upward 2 days ago A survey published Tuesday by the Mortgage Bankers Association (MBA) showed that among mortgage loans on one-to-four-unit residential properties, delinquencies decreased to a seasonally adjusted rate of 7.65% of all loans outstanding at the end of this year’s Q3. For the period, the delinquency rate dipped 57 basis points from Q2 and rose 368 basis points since last year at this time.Note: For the purpose of its National Delinquency Survey, MBA asks servicers to report the loans in forbearance as delinquent if the payment was not made based on the original terms of the mortgage. An estimated 3.4 million homeowners were in forbearance plans as of September 27, 2020, MBA adds.Marina Walsh, CMB, MBA’s Vice President of Industry Analysis said that consistent with the improving labor market and all-around rebounding economy, homeowners’ mortgage-paying capabilities improved in Q3.”The decrease in the mortgage delinquency rate was driven by a sharp decline in newer 30-day delinquencies and 60-day delinquencies,” she said. “Particularly encouraging was the 30-day delinquency rate, which reached its lowest level since MBA’s survey began in 1979.”In contrast, the report showed the seriously delinquent rate (90+ days late) reached a 10-year high, rising by 5.16% in Q3. It increased 90 basis points from last quarter and increased of 335 basis points from last year.”With forbearance plans still active and foreclosure moratoriums in place until at least the end of the year,” said Walsh, “many borrowers experiencing longer-term distress will remain in this delinquency category until a loss mitigation resolution is available.”The percentage of loans on which foreclosure actions were started in the third quarter remained unchanged from last quarter at .03%. The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure.The report showed the lowest foreclosure inventory rate since the second quarter of 1982.The report, which can be read in full here, includes a breakdown of delinquency rates for conventional, VA, and FHA loans.It also details the rates at which states are recording delinquencies. For example, the reported five states with the largest decrease in overall delinquencies for Q3 are (largest to smallest) New Jersey, New York, Alaska, Florida, and Nevada.And the five states with the most substantial increases in overall delinquency, compared to 2019 Q3 were, in order, Nevada, New Jersey, Hawaii, Florida, and New York. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save 30-Day Delinquencies at Lowest Rate Since 1979 Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. The Best Markets For Residential Property Investors 2 days ago  Print This Postlast_img read more

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More Americans Turning Toward Rural Residential Living

first_img The Best Markets For Residential Property Investors 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago More Americans Turning Toward Rural Residential Living Servicers Navigate the Post-Pandemic World 2 days ago The desire for a rural exodus is getting stronger.Whether it stems from the ongoing COVID-19 global pandemic or just a desire to return to a slower, small-town lifestyle, a recent Gallup poll, taken December 1-17, 2020, showed that 48% of Americans now prefer to live in a town or rural area, up from 39% in 2018. These results are similar to those found in a comparable Gallup poll taken following the events of 9/11, so it’s likely COVID-19 is playing a role in the desire to move away from more crowded urban and suburban areas into outlying towns.While the rural desire is strong, it’s different for city dwellers, who seem fairly happy remaining in their urban space. They showed a penchant for wanting to stay in more urban areas with a result of 27% as compared to their 29% 2018 response.Among those living in suburban areas, 6% surveyed said they would prefer relocating to either the city or a rural area.The demographic breakdown of Americans leaning toward a preference for residential living show equal proportions of women and men. However, non-Whites, Republicans, and southern residents showed a 12- to 13-point increase in their desire for a rural residence. Those living on the East Coast and middle-aged adults did not prove as enthusiastic about the small-town atmosphere, up only five points each.According to that 2020 Gallup poll, preference for city living is greatest among non-White Americans, adults aged 18 to 34, Western residents, and Democrats.As for those currently already living in a town or rural area, three in four of them are happy where they are.It remains to be seen just how many of those expressing the desire to move to a new locale will act on that desire, but regardless, towns and more rural areas may well see an influx of homebuyers and new residents in the year to come.For a complete breakdown of the Gallup results, visit Country Living Enjoys Renewed Appeal in U.S. (gallup.com). Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles With more than 30 years of writing/editing experience, Kristi Froehlich has crafted any number of brochures, blogs, articles, emails, speeches, press releases, web copy, and social media posts in her career. Over the years, she has written in several voices, including as C-suite executives, as a dog named Scout who spoke to hospital compliance issues, a NASCAR driver touting Prilosec, and more. She’s handled B2B and B2C pieces as well as internal communications, merger and acquisition pieces, and external audiences. The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Kristi Froehlich Sign up for DS News Daily in Daily Dose, Featured, Market Studies, News Previous: How the Pandemic Impacted Interest in SFR Investing Next: Black Book 2021 Profile: Diaz Anselmo Lindberg, P.A.center_img The Best Markets For Residential Property Investors 2 days ago Homebuyers migration Rural Urban 2021-01-11 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Homebuyers migration Rural Urban January 11, 2021 1,038 Views  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / More Americans Turning Toward Rural Residential Living Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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Explosion at Guildhall Square in Derry

first_imgNews WhatsApp By News Highland – January 17, 2011 Pinterest 448 new cases of Covid 19 reported today Pinterest Facebook There has been an explosion at Guildhall Square in Derry.It happened at about half past three this morning.The cause of the explosion has yet to be established. It is understood it happened near the City of Culture office, which is at Waterloo Place.Foyle MLA, Pol Callaghan, says this attack, was an attack on the City of Culture:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/01/pol1pm.mp3[/podcast] NPHET ‘positive’ on easing restrictions – Donnelly Help sought in search for missing 27 year old in Letterkenny RELATED ARTICLESMORE FROM AUTHOR Google+center_img Twitter Previous articleSoccer – Mailey To Stay With HarpsNext articleFG unsure whether to go with one or two candidates in Donegal SW News Highland WhatsApp Calls for maternity restrictions to be lifted at LUH Three factors driving Donegal housing market – Robinson Explosion at Guildhall Square in Derry Facebook Twitter Google+ Guidelines for reopening of hospitality sector publishedlast_img read more

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