Month: May 2021

Month: May 2021

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save FHFA Announces Future Plans for Fannie Mae and Freddie Mac About Author: Colin Robins Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHFA Announces Future Plans for Fannie Mae and Freddie Mac Sign up for DS News Daily Tagged with: Fannie Mae FHFA Freddie Mac Previous: Case-Shiller Index: Home Prices Increase in Q4 2013 Next: Has Shadow Inventory Transitioned to Ghost Inventory? May 13, 2014 650 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img in Daily Dose, Featured, Government, Headlines, News  Print This Post The Best Markets For Residential Property Investors 2 days ago Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Related Articles Demand Propels Home Prices Upward 2 days ago The Federal Housing Finance Agency (FHFA) released its strategic plan for the conservatorships of Fannie Mae and Freddie Mac. In its report, the FHFA focused on three tenets going forward for the GSEs: maintain foreclosure prevention activities, reduce taxpayer risk, and build a new, single-family securitization infrastructure.The first point in the strategic plan calls for a continuation of foreclosure prevention activities, as well as providing credit availability for new and refinanced mortgages to “foster liquid, competitive, and resilient national housing finance markets.”The FHFA noted that Fannie Mae and Freddie Mac helped maintain broad liquidity in the secondary mortgage market—$6.4 trillion since 2009—helping to stem losses and provide opportunity. However, the agency feels some originators have overcompensated, creating an environment that results in the rejection of many loans that would meet the GSEs’ credit standards. Going forward, the FHFA would like to extend access to credit to borrowers who are worthy while keeping risk low.The FHFA also plans to continue foreclosure prevention actions, noting completed foreclosure prevention actions totaled nearly 2.6 million since the onset of the housing crisis. Areas that are considered the hardest hit will be targeted in order to help continue recovery efforts.Second, the FHFA wants to reduce taxpayer risk by increasing the role private capital plays in the mortgage market. The agency plans to continue transfers of mortgage securities to private investors. In 2013, the GSEs transferred substantial credit risk on $30 billion of mortgage-backed securities (MBS). The agency plans to continue reducing taxpayer risk by increasing the amount of credit risk to private capital through $90 billion of new mortgage-backed securities, triple the amount compared to the previous year.Furthermore, the FHFA is directing Fannie and Freddie to submit plans to reduce portfolio assets to $250 billion by 2018. As of March 2014, Freddie Mac’s portfolio stood at $434 billion and Fannie Mae’s was $468 billion. “Reducing these retained portfolios continues to shift credit, asset liquidity and interest rate risks from the Enterprises and onto private investors,” FHFA said.Finally, the FHFA plans to build a new single-family securitization infrastructure for use by the GSEs that is also adaptable for use by other participants in the secondary market. Currently, the GSEs issue two different mortgage securities that are not interchangeable, and Freddie Mac’s security has historically traded less favorably compared to Fannie’s. The common platform will help reduce the disparity between the two company’s different securities.The FHFA plans to continue to improve mortgage data standards for the GSEs, such as appraisal data, loan delivery data, loan applications data, mortgage closing data, and mortgage servicing data. The agency will continue efforts with the Uniform Mortgage Data Program in order to improve accuracy, increase transparency, assess risk, and create efficiencies for the mortgage industry. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Fannie Mae FHFA Freddie Mac 2014-05-13 Colin Robins Subscribelast_img read more


Month: May 2021

first_imgHome / Daily Dose / Foreclosure Completions Plummet Year-Over-Year While Starts Increase Subscribe Foreclosure completions were down by nearly one-fourth year-over-year in Q1 while foreclosure starts experienced an increase, according to data released by HOPE NOW, an industry-created alliance of mortgage servicers, investors, counselors, and other mortgage market participants.Completed foreclosure sales totaled approximately 96,000 for Q1 2015, down from 126,000 in the same quarter a year earlier, according to HOPE NOW – a decline of approximately 24 percent. Foreclosure starts jumped by 3 percent year-over-year in Q1 (from 219,000 up to 225,000) and about 10 percent quarter-over-quarter (from 205,000 up to 225,000).The industry completed approximately 444,000 non-foreclosure solutions in Q1 2015 compared with 96,000 foreclosure completions, meaning there was one foreclosure sale for every 4.625 non-foreclosure solutions, according to HOPE NOW. Non-foreclosure solutions include loan modifications, short sales, and deeds-in-lieu of foreclosure; approximately 116,000 of those solutions were permanent loan modifications. About 87,000 of those borrowers received proprietary loan modifications, while about 29,000 received modifications through the government’s Home Affordable Modification Program (HAMP).”The availability of a combination of long term and short term workout tools has allowed for mortgage servicers to consider the viability of all retention and liquidation options before a foreclosure sale becomes the only course of action,” HOPE NOW said in their announcement.While the total of non-foreclosure solutions in Q1 was virtually unchanged from Q4 2014, it represented about a 13 percent decline from Q1 2014 (509,000). For March, the industry completed 154,000 non-foreclosure solutions, up slightly from February’s total of 147,000.“Activity on mortgage solutions remained robust during the first quarter of the year,” said Eric Selk, Executive Director of HOPE NOW. “Permanent loan mods continue to slightly outpace foreclosure sales and total non-foreclosure solutions remain at a steady pace. The industry has many tools at its disposal in offering customers the best possible outcome. HOPE NOW’s data has shown a consistent trend in the relationship between options offered and foreclosure sales. The good news in this trend is that these efforts point to a correcting market across the board. HOPE NOW’s members have made a special effort to engage borrowers in communities that still lag behind in their housing and economic recovery.”The number of seriously delinquent mortgages (those 60 or more days overdue) declined in Q1 2015 to 1.86 million, down 4 percent from the previous quarter (1.93 million) and 12 percent year-over-year (2.11 million).HOPE NOW has announced that it will be hosting several nationwide outreach events to offer loss mitigation options to at-risk homeowners. They have already hosted face-to-face events in Oakland and San Bernardino, California, and have events planned in the next two months for Chicago (May 27), St. Louis (June 13), and Cleveland (July 11).The number of non-foreclosure solutions offered by the industry since HOPE NOW began tracking the data in 2007 is 23.7 million, and 7.5 million of those solutions have been permanent loan modifications, according to HOPE NOW. foreclosure completions Foreclosure Starts HOPE NOW Non-foreclosure solutions 2015-05-21 Brian Honea 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. Share Save in Daily Dose, Featured, Foreclosure, News Servicers Navigate the Post-Pandemic World 2 days ago May 21, 2015 1,199 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days agocenter_img Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Previous: Former LinkedIn, Yahoo! Engineer Joins Auction.com Next: FHFA Announces New Eligibility Standards for Sellers, Servicers to Work With GSEs Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Foreclosure Completions Plummet Year-Over-Year While Starts Increase The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Tagged with: foreclosure completions Foreclosure Starts HOPE NOW Non-foreclosure solutionslast_img read more


Month: May 2021

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Tim McNally is a journalist with experience in business reporting. His journalism career began with Houston Energy Insider as an Energy Reporter, which eventually led him to secure a position with OILMAN Magazine as Digital Content Manager. McNally is a native Texan, and he received his degree in Finance from the University of St. Thomas. He is a staff writer for The MReport. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago home price appreciation Home Prices Housing Inventory 2017-01-19 Brian Honea Share Save Demand Propels Home Prices Upward 2 days ago Following a flurry of home sales in November, the total number of homes for sale in December declined to a three-year low, according to data provided by Redfin.“Prospective sellers were hesitant to list last month,” said Redfin Chief Economist Nela Richardson. “Many of them are also buyers, and two transactions are much harder to pull off in a fast-paced, low-inventory environment than one. We expect sellers to list early in 2017, not only to make top dollar from eager buyers, but also to be in a position to act quickly when it comes time to make their next home purchase.”Redfin receives current and local data from its agents positioned throughout the country. This allows the firm to have a comprehensive view of general real-estate trends unfolding within the markets it covers.When compared to November, the number of new listings for December decreased by 26.8 percent. December’s median home price was about 276,000, which represents a 4.7 percent increase over the previous year. Furthermore, the median amount of days for which a home was listed on the market before going under contract was 54, which is the fastest rate for any December since Redfin began tracking the data in 2010.“We’ve never before seen homes turn over so quickly at a national level,” Richardson said. She also noted that December’s data was rather surprising given existing conditions such as a new president-elect, higher mortgage rates, and low home inventory.The low inventory should continue to cause an upward movement in the prices of homes in 2017, with some regions experiencing higher growth than others.Seattle was the quickest region for home sales, as half of all homes listed on the market were pending a sale within 19 days. Seattle also had the highest home price growth, increasing by a rate of 14.8 percent since 2015. Tagged with: home price appreciation Home Prices Housing Inventory Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img in Daily Dose, Featured, News  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Prices Rise, Inventory Falls Demand Propels Home Prices Upward 2 days ago January 19, 2017 1,180 Views The Best Markets For Residential Property Investors 2 days ago About Author: Tim McNally Previous: CalyxSoftware Hires New Director of Marketing Next: Down, Down, Down for Mortgage Rates Home / Daily Dose / Prices Rise, Inventory Falls Subscribelast_img read more


Month: May 2021

first_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Home / Daily Dose / Trustees Triumph in Daily Dose, Featured, Headlines Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post About Author: Laura Coughlin October 25, 2017 1,702 Views Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: HOUSING mortgage Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: T. Robert Finlay Trustees Triumph The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago HOUSING mortgage 2017-10-25 Laura Coughlin Previous: Recognizing Challenges and Taking Action Next: Stat Insight: Home Prices Lead in the West Share Save Editor’s note: This article was originally featured in the October issue of DS News, out now. Spurred by the United Trustee Association’s amicus efforts, the Ninth Circuit recently provided foreclosure trustees with some well-needed protection from borrower lawsuits. Meyer v. Northwest Trustee Services, No. 15-35560, 2017 U.S. App. LEXIS 16551 (Ninth Circuit, 2017). While the Meyer decision is unpublished, the rationale behind the ruling could arguably apply to future litigation against trustees in the Ninth Circuit of the Federal Courts, which includes Alaska, Arizona, California, Hawaii, Idaho, Montana, Nevada, Oregon, and Washington.In its decision, the Ninth Circuit declined to review the borrower’s claims but instead determined that the borrowers were barred from bringing the claims against Northwest Trustee Services, Inc. (NWTS) under the doctrine of judicial estoppel. The ruling sends the message to borrowers that, as soon as they learn of a potential claim during their bankruptcy, they must amend their schedules or disclosure statements to include the claim as an asset. If they don’t, their subsequent claims could be barred by the doctrine of judicial estoppel.    Judicial Estoppel prevents a party from claiming one set of circumstances and then later claiming a different inconsistent set to their advantage. Any potential claim a debtor has is an asset of the bankruptcy estate because if they prevail on those claims, the monies they receive could go toward paying their creditors. By failing to include a potential claim, debtors mislead the court and their creditors. Their failure to disclose the claim during the bankruptcy prevents them from bringing the claim at a later date when it is most advantageous to the debtor. The Meyers CaseIn late 2005, Peter J. Meyer and Sharee L. Meyer executed a promissory note and deed of trust. The loan was later transferred into a securitized trust. U.S. Bank was appointed the trustee of the trust and Wells Fargo Bank, N.A. was the authorized servicer and custodian. Sometime in 2008, the Meyers defaulted on the loan. In 2010, NWTS received a referral to foreclose along with the required beneficiary declaration, executed by Wells Fargo as attorney-in-fact for the beneficiary. The referral also included the loss mitigation declaration, signed by the same person but as an employee of America’s Servicing Company (ASC), which is a division of Wells Fargo. NWTS issued a notice of default (NOD) relying on the information in the referral and the executed declarations. NWTS performed no additional inquiries into the authority of the person signing the declarations or the information contained in the referral. The NOD included language that NWTS was acting as an agent for the beneficiary. The NOD also listed the address for ASC as the address for the owner of the note and for the servicer. The phone numbers provided for the owner of the note and the servicer were numbers for Wells Fargo.Believing the arrears listed in the NOD were incorrect, the Meyers contacted the numbers listed on the NOD. The Meyers assert that they were confused when the calls led to Wells Fargo (as opposed to ASC), an entity they had not dealt with before. In August 2010, NWTS recorded the Notice of Trustee’s Sale (NOTS). The day before the scheduled foreclosure sale, the Meyers filed for Chapter 13 Bankruptcy. In December 2010, an attorney for the Meyers sent a Qualified Written Response (QWR) that, as U.S. District Court Judge Martinez noted, “raised no concerns about the identification of the Note owner.” ASC responded to the QWR providing the contact information for U.S. Bank, the trustee of the trust. During the bankruptcy, the Meyers and U.S. Bank stipulated to an order of relief from the stay on June 1, 2011. The loan was removed from the Meyers’ plan, and the plan was confirmed. In May of 2012, NWTS recorded a new NOTS.Take TwoWith another sale date looming, in July 2012, the Meyers filed an adversary complaint in the bankruptcy court. By October 2013, only NWTS remained as a defendant in the action, and a three-day bench trial commenced. The claims against NWTS were for violations of the Deed of Trust Act (DTA), the Washington State Consumer Protection Act (CPA), and the Fair Debt Collection Practices Act (FDCPA).  During trial, NWTS asserted that the Meyers are barred from bringing these claims under the doctrine of judicial estoppel because they failed to include the claims as assets in their bankruptcy schedules. Judge Overstreet issued a memorandum decision finding for the Meyers on the DTA and CPA claims, denying relief under the FDCPA and ignoring any argument regarding judicial estoppel. At the time of Judge Overstreet’s decision, it was not clear as to whether or not a claim for a violation of the DTA survives if a foreclosure was not completed. Judge Overstreet decided that a cause of action under the DTA was permitted under the current case law. See Walker v. Quality Loan Service Corporation of Washington., 176 Wn. App. 294, 308 P.3d 716 (2013); and Bavand v. OneWest Bank, FSB, 176 Wn. App. 475, 309 P.3d 636 (2013). Relying on Klem v. Washington Mutual Bank, 176 Wn.2d 771, 295 P.3d 1179 (2013), Judge Overstreet held that due to NWTS’s inclusion of language in the NOD, asserting that it was acting as the agent for the beneficiary; NWTS, in not independently verifying the parties executing the declarations, had authority to execute, and the beneficiary was the actual owner of the note. By failing to include the contact information for the owner of the note in the NOD, NWTS breached its duty to the Meyers under the DTA. According to Judge Overstreet, NWTS’s failure to strictly comply with the DTA was an unfair and deceptive act giving rise to a CPA claim. Putting the final nail in the coffin, Judge Overstreet determined that were it not for NWTS’s faulty NOD, the Meyers would not have been forced to act. This started with the Meyers being required to hire an attorney to send the QWR, continued with the filing of the bankruptcy, extended to the cost of moving and paying for a rental, and also included lost wages for the time spent in mediations and hearings. The AppealOn April 10, 2015, U.S. District Court Judge Martinez reversed Judge Overstreet’s decision. Between Judge Overstreet’s decision and Judge Martinez’s reversal, the case law concerning the DTA changed considerably. In that time, it was established that there was no independent action under the DTA without a completed foreclosure sale but that a violation of the DTA could still be actionable under the CPA. Frias v. Asset Foreclosure Services., Inc., 181 Wn.2d 412, 334 P.3d 529 (2014). Additionally, it was determined that a trustee’s reliance on the beneficiary declarations in initiating a non-judicial foreclosure was not a violation under the DTA so long as there was no evidence conflicting the information in the declarations. Trujillo v. Northwest Trustee Services, Inc., 181 Wn. App. 484, 326 P.3d 768 (2014) (Reliance on the declarations is not a violation, absent conflicting evidence). Finally, there was no affirmative duty for a trustee to investigate if the beneficiary is the holder of the note. Bavand v. OneWest Bank, FSB, 587 F. App’x 392 (9th Cir. 2014).During the appeal, NWTS again argued that judicial estoppel barred the Meyers from bringing their claims against NWTS. The Court denied this argument relying on the fact that at the time the Meyers filed for bankruptcy, the law underlying the claims did not exist. Bain v. Metropolitan Mortgage Group, Inc., 175 Wn.2d 83, 285 P.3d 34 (2012); Klem (2013); Walker (2013); and Bavand (2013). Therefore, to bar the claims would not be fair to the Meyers due to the constant shifting of DTA law. The court based its decision on what the Meyers knew at the time of filing their bankruptcy in 2010 and did not address any requirement for the Meyers to amend their schedules once the claims were known in 2012.Instead, the District Court reversed Judge Overstreet’s decisions specifically as to each of the claims. The DTA claim was reversed based on Frias establishing there is no individual claim for a violation under the DTA. The CPA claim failed because the Meyers failed to establish how a technical error prejudiced them, harmed them, or was likely to deceive the public in order to give rise to a CPA claim. Most importantly, in light of the decision in Trujillo, the court determined that NWTS did not violate the DTA by relying on the beneficiary declarations. Finally, the District Court determined that the injury and damages either could not be proven to stem from NWTS’s actions or simply were not recoverable under a CPA claim. The Final DecisionContinuing the trend of ever-changing DTA law, on August 20, 2015, the Washington State Supreme Court reversed Trujillo in a decision referred to as Trujillo II. Trujillo v. Northwest Trustee Services, Inc., 183 Wn.2d 820, 355 P.3d 1100 (2015). In Trujillo II, the Supreme Court determined that the declaration of the noteholder was ambiguous because it stated that the beneficiary is the “actual holder of the promissory note or other obligation.” (emphasis added).  A trustee’s reliance on an ambiguous declaration is a violation of the trustee’s duty to the borrower and therefore a violation of the DTA. As a violation of the DTA, reliance on the declaration gives rise to a CPA claim. The beneficiary declaration used by NWTS to commence the Meyers’ foreclosure also included this ambiguous language and could be deemed a violation of the DTA. NWTS would have to prove that they relied on additional information confirming the beneficiary was the owner of the note prior to the initiation of the foreclosure.After briefing by both sides, Ann T. Marshall, Esq., with Anglin Flewelling Rasmussen Campbell & Trytten LLP (AFRCT) filed an amicus curie brief on behalf of the UTA. Despite the 10 issues asserted by the Meyers, including the change in Trujillo II, the Ninth Circuit’s majority memorandum decision is based solely on the issue of judicial estoppel. The Ninth Circuit finally agreed that the Meyers were barred from bringing claims against NWTS because they failed to amend their schedules after obtaining enough facts evidencing their potential claims against NWTS. Upon the filing of the adversary proceeding, the Meyers should have also amended their schedules in order to apprise the bankruptcy court and their creditors of the claims. With this decision, trustees could nip some costly and frivolous actions by borrowers in the bud. Once served with a complaint, a trustee, or their counsel, should first review a borrower’s bankruptcy status and history. If, while they were in active bankruptcy, the borrower was aware of the facts giving rise to their claims  their action should be dismissed. Ideally, the Ninth Circuit would have published this decision so that it could be used as precedent on future matters. Nonetheless, the cases cited in the decision and its rationale can be used to protect trustees in other matters within the Ninth Circuit. Related Articles Subscribelast_img read more


Month: May 2021

first_img Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago in Featured, News, Secondary Market Tagged with: Freddie Mac HOUSING mortgage The Best Markets For Residential Property Investors 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Diving Into New Mortgage Data Next: Leading Lender-Placed Insurance Provider Will Now Be Independently Owned Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Featured / Freddie Mac Expands Credit Risk Transfer Program Freddie Mac recently announced the expansion of its Agency Credit Insurance Structure (ACIS) program with ACIS Forward Risk Mitigation (AFRM), a front end credit risk transfer offering. This latest credit risk transfer (CRT) offering enables Freddie Mac to transfer mortgage credit risk simultaneously with the acquisition of loans by securing committed private capital and providing stable pricing over a two-year horizon through the end of 2019.”AFRM is the first CRT product to secure private capital from investors committed to providing coverage on loans funded over the next two years and represents an important milestone in the expansion of the ACIS program,” said Gina Subramonian Healy, VP of Credit Risk Transfer. “We’ll continue to explore ways to evolve our front-end CRT offerings to transfer more credit risk away from taxpayers and provide investors new ways to invest in the U.S residential housing market.”AFRM shifts a portion of the mortgage credit risk on pools of single-family loans with a combined unpaid principal balance of approximately $21 billion to a diverse panel of reinsurers, providing insurance coverage with a maximum limit of approximately $650 million, according to the release.This covered pool will consist of 30-year fixed-rate loans with loan to value ratios between 60 and 97 percent, with a similar structure as our core ACIS offering. Freddie Mac will continue to offer core ACIS insurance policies on a programmatic basis.Since the ACIS program’s inception in 2013, Freddie Mac has placed nearly $9 billion in insurance coverage while expanding its investor base. Since 2013, the company has transferred a portion of credit risk on approximately $872 billion of UPB on single-family mortgages. The company has grown its investor base to more than 220 unique investors, including insurers and reinsurers. Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago About Author: Nicole Casperson The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Sign up for DS News Daily Share Save Related Articles Freddie Mac Expands Credit Risk Transfer Program The Best Markets For Residential Property Investors 2 days ago Freddie Mac HOUSING mortgage 2018-01-08 Nicole Casperson Subscribe January 8, 2018 2,251 Views last_img read more


Month: May 2021

first_img The Best Markets For Residential Property Investors 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 Subscribe May 20, 2019 1,412 Views Affordability metro metro areas National Association of Realtors Realtor.com 2019-05-20 Mike Albanese in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Promontory Fulfillment Services Integrates with ComplianceEase Next: California Affordable Housing Bill Stalls—What Now? Tagged with: Affordability metro metro areas National Association of Realtors Realtor.com Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img How the Economy Is Impacting Housing Home / Daily Dose / How the Economy Is Impacting Housing The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville.  Print This Post About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Speakers at the 2019 REALTORS Legislative Meetings and Trade Expo voiced strong expectations for the remainder of 2019, including continued economic expansion, rising home sales, and an increase in wages that are on par with the growth of home prices.Lawrence Yun, Chief Economist at the National Association of Realtors, predicted changing future migration patterns in his 2019 midyear forecast, adding buyers search for more affordable markets. The report states inventory in the U.S. has grown for eight-consecutive months on a year-over-year basis, which Yun expects to continue.Diverting from the recent trend, wage growth and home price growth are more closely aligned as average hourly wages continue to grow.”With strong job creation, wages are growing at a faster pace. Finally, wages and home prices are aligning,” Yun said. “This is good news for employees.”Yun added that this shift is a healthy development toward keeping housing affordability stable.Price differences in the metro markets could cause a shift in relocation, as people and companies will seek more affordable regions of the country, Yun said.”While affordability has been sliding, it is still better than we saw in the year 2000. This is due to much lower mortgage interest rates today,” Yun said.A report earlier this month from realtor.com found that while home prices in suburban areas have increased 57.3% since 2013, they pale in comparison to the 93.4% increase found within major cities.”As more people look to the suburbs for affordability, homes are harder to find there, too,” said Danielle Hale, Chief Economist at realtor.com. “Buyers not willing to go farther out may have to make other trade-offs such as accepting a smaller home or buying a home in need of renovation.”Hale said at the Expo that year-over-year inventory growth will be moderate nationwide, and the company has been listing prices up 6.9% year-over-year in April.”We used to see home price growth only around the coasts, but now we’re seeing it throughout the country. Nationwide there are not enough affordable homes on the market, and those numbers have been declining,” Hale said.last_img read more


Month: May 2021

first_img Tagged with: Fair Housing Month HUD HUD Announces Fair Housing Month Theme Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save  Print This Post Home / Daily Dose / HUD Announces Fair Housing Month Theme 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. April 7, 2020 1,292 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago April is Fair Housing Month, and the Department of Housing and Urban Development (HUD) theme for April 2020 is Call HUD: Because Sexual Harassment in Housing is Illegal. This year’s theme serves as a public awareness campaign that urges the persons who experience sexual harassment where they live to “call HUD.””While any form of discrimination stains the very fabric of our nation, HUD is especially focused on protecting the right of individuals to feel safe and secure in their homes, free from sexual harassment or unwanted sexual advances,” said HUD Secretary Ben Carson. “This theme, which is a call to action, is an appeal to those who experience discrimination, particularly survivors of sexual harassment, to contact HUD for help. Much work remains to be done, but HUD’s efforts in this area are already producing real results for real people.””Complaints we receive demonstrate the importance of continuing our commitment to shining a light on this form of discrimination and letting everyone know that HUD is here to help,” said Anna María Farías, HUD’s Assistant Secretary for Fair Housing and Equal Opportunity. “Even as the nation is dealing with a health crisis unlike any we have experienced in recent history, HUD is open for business and working to ensure that no one has to tolerate harassment or unwanted sexual advances in the place they call home.”Recently, HUD approved several Conciliation Agreements with housing providers in Napa Valley, California, resolving allegations that the on-site manager for one of their properties sexually harassed female residents. The settlements called for the owners to pay $49,000 to women who filed complaints, remove the on-site manager and attend fair housing training.In addition, HUD and the Department of Justice continue to work together through a nationwide joint initiative that is combating sexual harassment in housing. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: The Most At-Risk Housing Markets Next: The Price of Keeping People in Their Homes Fair Housing Month HUD 2020-04-07 Seth Welborn in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Sign up for DS News Daily Subscribelast_img read more


Month: May 2021

first_img The Best Markets For Residential Property Investors 2 days ago Related Articles Despite Pandemic and Recession, Housing is Surging in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post 2020-07-13 Mike Albanese Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Solving Houston’s Flooding Problem for Homeowners Next: CFPB Details the Debt Struggle July 13, 2020 1,360 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Despite Pandemic and Recession, Housing is Surging Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago About Author: Mike Albanese Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Commentary from realtor.com found that despite the impacts of COVID-19, a recession, a presidential election, and disputes over systemic racism, the housing market is not only rebounding but surging.Realtor.com reported median home prices rose 6.2% annually for the week ending on June 27. Homes are selling faster than they did in 2019 and bidding wards are rising.A prior Redfin report that more than half of its offers faced competition in June. Specifically, 54% of homes offer placed by the real estate agency’s representatives faced bidding wars. This marks the second consecutive month that the bidding-war rate for new home purchases has been on the rise.”The housing recovery has been nothing short of remarkable,” says Ali Wolf, Chief Economist of Meyers Research, a national real estate consultancy. “The expectation was that housing would be crushed. It was—for about two months—and then it came roaring back.”Additionally, realtor.com revealed 61% of consumers said it was a good time to buy, according to data from Fannie Mae. This is a 9-percentage point increase from May. Also, 41% of respondents said it was a good time to sell—also a 9-percentage point increase from the past month.That optimism translated to a surge of mortgage applications for home purchases. They rose 33.2% year over year in the week ending July 3, according to the Mortgage Bankers Association.Another moment of optimism that came earlier this month was when Black Knight announced that active forbearance plans fell an additional 435,000 weekly—the largest drop since the onset of the pandemic.As of July 7, 4.14 million homeowners were in forbearance plans, which represents 7.8% of all active mortgages—down from the prior week’s 8.6%. This represents around $900 billion in unpaid principal.Black Knight stated that 6% of all GSE-backed loans and 11.6% of loans backed by the Federal Housing Administration and the VA are currently in forbearance plans. An additional 8.2% of loans in private-label securities (PLS) are also in forbearance.GSE loans saw the largest declines in forbearances, falling by 200,000—an 11% drop. Portfolio and PLS also fell by 11%, which is 136,000 fewer active forbearance plans.FHA and VA loans saw marginal improvements, dipping 6% for a reduction of 93,000.”This latest decline in the number of homeowners in active forbearance is an encouraging sign of continued improvement,” said Andy Walden, Economist and Director of Market Research for Black Knight. “The reduction of roughly 435,000—the largest single-week drop yet—was driven at least in part by the fact that more than half of all active forbearance plans entering the month were set to expire at the end of June. While the majority of those have been extended, this week’s data suggests a significant share were not.” Subscribelast_img read more


Month: May 2021

Google+ Twitter News Facebook Twitter Google+ Pinterest Gardai in the County have urged the public to be extra vigilant as a result of number of burglaries where private homes have been targeted in recent weeks.The County’s crime prevention officer Paul Wallace is urging residents to be alert to suspicous activity around their property and to ensure their home is secure when out Christmas shopping.While no figures have been given, gardai have released their latest advice following a number of burglaries on homes across the county in recent weeks.In current cold spell you are encouraged to keep an eye on elderly / persons living alone – give them a calla and review security at your home with an emphasis on the physical security.Gardai advise that perimeter lighting should be in use during the hours of darkness while the installation of a monitored intruder alarms system is advised.In recent days gardai  have received reports from around the County of traders calling to doors in particular isolated rural areas.Residents are advised not be tempted to employ door to door traders no matter how goods it sounds, not to be fooled by print material referring to local addresses  and to be wary of persons looking for cash payments.Finally, any person who has noticed any suspicious activity should not hesitate to contact their local 24hour District Headquarters Garda station. Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Need for issues with Mica redress scheme to be addressed raised in Seanad also Previous articleWhite Oaks’ clients becoming younger as drug use increasesNext articleBoxing – Victory For Quigley On World Series Debut News Highland RELATED ARTICLESMORE FROM AUTHOR By News Highland – December 6, 2011 WhatsApp Guidelines for reopening of hospitality sector published Calls for maternity restrictions to be lifted at LUH WhatsApp Donegal Gardai urge vigilance as burglaries increase Pinterest read more


Month: May 2021

first_img Facebook By admin – July 7, 2015 Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleFatal Barnesmore crash inquest hears how 83-year-old Dunkineely man died instantlyNext articleAthletics news admin Facebook Google+ Twitter Two men have been assaulted in Derry.The incident happened in Termon Street in the Waterside yesterday evening.One man received cuts to his hand, the other man to his neck.A 30-year-old man and a 23-year-old woman were arrested in relation to the assault.Both have been released on bail pending further enquiries. Pinterest WhatsApp Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey center_img Calls for maternity restrictions to be lifted at LUH LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Guidelines for reopening of hospitality sector published Pinterest WhatsApp Two men receive knife wounds in Derry assault RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNews Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more


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