Mortgage Rates Rise, Helped by ‘Respectable Jobs Report’

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, Headlines, Market Studies, News Home / Daily Dose / Mortgage Rates Rise, Helped by ‘Respectable Jobs Report’ Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Previous: First-Time Buyers Show Interest; Face Tough Market Next: Connecticut Home Sales Post Increase in January The Best Markets For Residential Property Investors 2 days ago Bankrate Freddie Mac Jobs Mortgage Rates 2014-03-13 Tory Barringer The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Tagged with: Bankrate Freddie Mac Jobs Mortgage Rates Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Last week’s improved (though still not great) jobs report brought a little bit of comfort to the financial markets, pushing mortgage rates up for the week.According to Freddie Mac’s Primary Mortgage Market Survey, the average rate for a 30-year fixed-rate mortgage (FRM) came up nearly a tenth of a percentage point to 4.37 percent (0.6 point) for the week ending March 13. Last year, the 30-year FRM averaged 3.63 percent.The 15-year fixed average was 3.38 percent (0.6 point), up from 3.32 percent last week.In adjustable-rate products, the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.09 percent (0.4 point) this week—up from 3.03 percent—while the 1-year ARM moved down slightly to 2.48 percent (0.4 point).Meanwhile, Bankrate.com’s weekly national survey showed increases all around: The 30-year fixed average moved up to 4.50 percent, the 15-year fixed came up to 3.51 percent, and the 5/1 ARM rose to 3.30 percent.While rates were up, they “remain well within the familiar range of recent weeks,” Bankrate said in a release.“A respectable jobs report removed some angst about the economy, but the persistent cold weather has still taken an apparent toll. With the Federal Open Market Committee meeting next week, it is likely that the Fed will stay the course on tapering their bond purchases, keeping bond yields and mortgage rates from any wild fluctuations.” The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago March 13, 2014 734 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Mortgage Rates Rise, Helped by ‘Respectable Jobs Report’last_img read more

DS News Webcast: Tuesday 5/20/2014

first_img Demand Propels Home Prices Upward 2 days ago Previous: Student Loan Debt Preventing Homeownership, Hampering Economy Next: Loan Modification Activity Creeps up in March About Author: DSNews 2014-05-20 DSNews May 20, 2014 508 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Featured, Media, Webcasts DS News Webcast: Tuesday 5/20/2014 The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img According to a new blog post by CoreLogic’s Sam Khater, the number of REO properties nationwide is creeping back upwards. REO properties increased to 430,000 as of the end of March 2014. March’s figure reflects an increase of 15 percent from the low point of REO inventory in August 2013, when properties totaled 375,000. The CoreLogic analyst noted that investor demand began to drop off last September, decreasing REO purchases.The company found that REO properties rose across the nation in 46 states, with Idaho leading from a near doubling of their available inventory as REO. Maryland came in second, which saw a 78 percent increase, followed by Nevada, Oregon, and North Dakota. Khater concludes that while the current level is lower than during the peak of the financial crisis, the increase of REO properties signals a shift to a new phase of the housing market.According to the Commerce Department and HUD, privately owned housing starts last month were at an estimated seasonally adjusted annual rate of 1.07 million, representing a 13.2 percent jump from March’s barely revised pace of 947,000. Unfortunately for the supply-constrained single-family market, most of that spike came in apartment buildings, which were started at a rate of 413,000—a leap up from March. Share Save Demand Propels Home Prices Upward 2 days ago Subscribe Home / Featured / DS News Webcast: Tuesday 5/20/2014 Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Sign up for DS News Daily last_img read more

DS News Webcast: Friday 6/24/2016

first_img Demand Propels Home Prices Upward 2 days ago DS News Webcast: Friday 6/24/2016  Print This Post Subscribe Home / Featured / DS News Webcast: Friday 6/24/2016 The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The percentage of residential real estate homes sold in March 2016 that were all-cash transactions was down to about 33 percent, which is a year-over-year decline of 2 point 4 percentage points, according to data released by CoreLogic on Thursday. The ongoing steady decline in foreclosures since reaching their peak in 2010 has resulted in a corresponding decline in the nationwide cash sales share.The cash sales share peaked in January 2011, when nearly half, about 46 point 6 percent, of all residential home sales were all cash. REO sales had the largest share of cash sales for March with about 57 point 2 percent. Resales accounted for about 32 point 9 percent of sales, short sales made up about 30 point 6 percent of cash sales, and new home sales made up about 14 point 4 percent.The results of the Dodd-Frank Act Stress Tests conducted by the Federal Reserve on the nation’s 33 largest bank holding companies showed improved capital levels and credit quality, which strengthened their ability to lend during times of severe economic stress, according to the Fed on Thursday afternoon.  The hypothetical severe economic scenario for which the banks were tested would result in about 385 billion dollars in losses for the 33 firms tested. Previous: New Home Sales Retreat as Supply Holds Steady Next: Counsel’s Corner: The Power of State AGs 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Is Rise in Forbearance Volume Cause for Concern? 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago 2016-06-23 Brian Honea June 23, 2016 935 Views 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 Related Articles Demand Propels Home Prices Upward 2 days ago in Featured, Media, Webcastslast_img read more

Unloading Inventory

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Print Features The Best Markets For Residential Property Investors 2 days ago Blight Distressed Home Sales Foreclosures Liquidations Print Features 2017-12-20 Kelly Conley Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save About Author: Kelly Conley Previous: Home Mortgage Disclosure Act Rules, Data Security Top Concerns for Lenders Next: Helping Borrowers Understand Foreclosure Prevention Options Tagged with: Blight Distressed Home Sales Foreclosures Liquidations Print Features Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Editor’s note: This story was originally featured in the December issue of DS News, out now.Post-Foreclosure Sale Property InventoriesOver the past years, mortgage servicers have experienced substantial reductions in post-foreclosure sale property inventories given lower levels of nonperforming loans, higher purchase volumes, and stronger employment levels. During this period, servicers have developed and refined various property disposition strategies relative to assets held in portfolio (to be liquidated from servicer REO inventories), as well as assets that will ultimately be conveyed back to insurers or investors for property liquidation after the completion of a foreclosure sale. While the management of liquidation processes may vary from servicer to servicer the end goal is the same–effectuate liquidation strategies and expedite third-party property sales to minimize neighborhood blight and reduce the operational and holding risks associated with distressed-property management. While servicers are charged with appropriately managing property inventories in accordance with investor/insurer requirements regardless of the party that will ultimately liquidate the properties, the liquidation of HUD-insured properties presents added layers of administrative coordination post-foreclosure sale. Servicers with post-foreclosure sale assets that are insured by HUD are charged with conveying properties to HUD (for property liquidation), in acceptable condition or selling to third-party buyers under HUD’s Claims Without Conveyance Of Title (CWCOT) program. Ensuring that properties are in conveyable condition requires tight management of the eviction, title, and property condition remediation processes, so that these properties can be transferred to HUD for liquidation. This conveyance-path process can be costly (for servicers and for HUD) due to various operational and holding risks that can be greatly diminished under successful third-party property liquidation efforts. Given the inherent risks of the conveyance path, the HUD CWCOT third-party liquidation process provides a more cost-effective and less-risky alternative to conveyance. Broad CWCOT Program HighlightsOptimization of the CWCOT program reduces servicers’ post-foreclosure sale property inventories, decreasing the risk of holding and ultimately conveying properties to HUD for property liquidation through successful and qualifying third-party sales. Upon completion of qualified third-party sales, related insurance claims may be filed through HUD to retrieve qualified unpaid principal balance deficit totals as well as reimbursable expenses. Program participation not only reduces the ultimate impact of the FHA insurance fund due to expedited third-party sales, but also mitigates the following risks and costs associated with post-foreclosure sale inventory asset management—relative to qualifying properties and circumstances:Future liability of holding vacant/high-risk propertiesOngoing maintenance and property preservation-related costsOperational/staffing levelsNonclaimable property-preservation costsPotential debenture interest curtailmentsPotential reconveyance volumeProperty liquidation risk to HUDThe CWCOT program concerning third-party sale property liquidation efforts related to HUD-insured properties involves two options—noncompetitive sale and competitive-sale strategies:Noncompetitive Sale Strategy: The sale of HUD-insured properties via noncompetitive sale efforts (through typical third-party foreclosure sales not previously marketed for sale through an auction company) provides servicers with a narrower liquidation strategy as these properties are not generally actively marketed to a wider potential buyer audience. Further, the minimum ‘reserve’ purchase prices as determined through pre-foreclosure sale property values are generally higher than the minimum reserve purchase prices that are established under the competitive-sale property liquidation strategy.  Competitive-Sale Strategy: The sale of HUD-insured properties via competitive-sale efforts through partnership with an auction company significantly broadens the reach of potential buyers given that competitive-sale efforts are coordinated in partnership with auction companies that market properties for a minimum of 15 days prior to auction cycle. The wider reach of potential buyers, coupled with lower minimum sale reserve prices, make the competitive-sale property disposal technique an effective strategy. In the long run, the competitive-sale strategy tends to expand the number of potential buyer bidders, and increase the overall resultant sales prices (thereby reducing the exposure of the FHA insurance fund). The following highlights contribute to the effectiveness of property liquidation through competitive-sale efforts:CWCOT Competitive-Foreclosure Sale ‘FIRST-CHANCE’ Option:Increased CAFMV haircut or minimum sale-price adjustment, reducing the minimum foreclosure-sale property price reserve threshold (attracting more potential third-party bidders as compared to non-competitive sale efforts)Permitted reimbursement of auction company marketing services for up to 5 percent of netsales price per property sold through competitive-sale efforts More limited scope of states and municipalities that allow for competitive bidding at the time of foreclosure saleCorporate contributions allow servicers to accept below-reserve bids in exchange for lender contributions in an effort to achieve quicker property liquidation and avoid additional holding risks/future losses.CWCOT Competitive Post-Foreclosure Sale ‘SECOND- CHANCE’ Option:Increased CAFMV haircut or minimum sale-price adjustment, reducing the minimum post-foreclosure sale property price reserve threshold (attracting more potential third-party bidders as compared to noncompetitive sale efforts)Permitted reimbursement of auction company marketing services for up to 5 percent of net sales price/property sold through competitive sale effortsWide scope of participating states and territories that allow for competitive bidding through second-chance post-foreclosure sale effortsCorporate contributions allow servicers to accept below-reserve bids in exchange for lender contributions in an effort to achieve quicker property liquidation and avoid additional holding risks/future losses.CWCOT Program Inflection PointIn late 2014, when HUD published updated guidance (effective for foreclosure sales scheduled on or after February 1, 2015)around the CWCOT program and competitive-sale benefits, servicers began broadening strategies in an effort to further optimize the program. According to HUD, CWCOT claim submissions now exceed conveyance claim submissions, demonstrating the growth of the CWCOT program across the wider servicing industry. This increase in CWCOT liquidations benefits both servicers and HUD for the various reasons mentioned above. In addition, the program will continue to provide potential buyers with options in an ever- competitive purchase market.  Competitive REO SalesWhile the REO market has contracted over the past years, given overall lower inventory levels, servicers continue to look for ways to efficiently liquidate properties from their own inventories. For many servicers, REO liquidation strategies may also include the use of competitive-sale efforts. In the REO realm, partnering with auction companies allows servicers to more effectively reduce inventories given the reach of the online auction industry (which has grown substantially in the past ten years). Post-Foreclosure Sale/Distressed Asset Inventories—Looking ForwardAccording to Freddie Mac’s September 2017 Housing Outlook, home prices are expected to increase slightly in 2018. Overall, economic conditions are expected to remain strong, further supporting lower post-foreclosure sale and REO property inventories in the near term. Of course, there are those variables that could impact distressed asset inventories.Natural Disaster ImpactsBorrower, servicer, investor, and insurer impacts around Hurricanes Harvey, Irma, Maria, and the wildfires have been and will continue to be at the forefront in terms of homeowner assistance (both financial and physically), damage remediation efforts, and potential downstream exposure. Freddie Mac’s September 2017 Housing Outlook further referenced the potential for increased mortgage delinquencies 3as a result of disaster-related impacts, particularly around those properties that were affected by Hurricane Irma (given lower property equity levels as compared to those properties impacted by Hurricane Harvey). At this stage, potential downstream disaster impacts, including resultant foreclosure activity, are not yet known. Those borrowers that were directly impacted by the natural disasters are still working through FEMA claim filings, surchargeable damage insurance filings, forbearance options, dislocation assistance, and/or potential employer relocation (among other direct and indirect issues resulting from disaster impacts). Therefore, it will take time for the industry to fully understand the extended level of disaster effects related to delinquencies and potential resultant distressed-property inventory levels. Overall, the technological and marketing advances that have grown over the past several years, as well as broader optimization around property-disposition strategies have contributed to servicers’ ability to more effectively manage distressed-asset inventories and ultimately scale as these inventories shift through various market conditions. The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Unloading Inventory  Print This Post Related Articles Subscribe December 20, 2017 2,517 Views Unloading Inventory The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more

The Top 25 Women of Law, Part 4

first_img in Daily Dose, Featured, Magazine, Print Features Related Articles Home / Daily Dose / The Top 25 Women of Law, Part 4 The Best Markets For Residential Property Investors 2 days ago The Top 25 Women of Law, Part 4 Editor’s note: This story was originally featured in the January issue of DS News, out now.In the January issue of DS News, we were proud to introduce our section on 25 women lawyers who have made their marks in the legal industry. From breaking through the glass ceiling to fighting for the rights of their clients, these formidable women have ensured the success of their individual firms and the industry through their skills and can-do attitudes. They are mentors and role models for a younger generation that admires them, learns from their fights, and is influenced by their positive approach towards creating a work-life balance.In this third installment, we profile get to know more about what inspired these women to become lawyers, their views on the current state of the industry, what it’s like to be a woman in law, and what qualifies these women as being among some of the finest minds in the legal and financial services industries.JULIE MORANSenior Executive Counsel, Orlans PCOrlans PC is the largest WBENC-certified women-owned law firm in America and Julie Moran, Orlans’ Senior Executive Counsel, is proud to have been a part of its creation, in addition to founding a professsional women’s organization. “Twenty years ago, I was only one of two women managing partners in a Boston-based law firm . . . [Today] I continue to focus on removing obstacles that stifle women’s advancement,” said Moran. Despite the strides women have made in the industry, there are still obstacles to overcome. “While hiring practices to attract more women candidates have improved, we continue to falter in providing the mentoring, career paths, and advancement opportunities women need to succeed,” said Moran. Among her career highlights, Moran cites being appointed to the Massachusetts Homeownership Advisory Committee by the Governor in recognition of her advocacy for homeownership. Navigating federal and state laws is a crucial part of Moran’s job, and making sure her clients are compliant is one of the most rewarding parts as well. “I truly enjoy taking the most challenging regulatory schemes and working alongside our clients to help create legally compliant documents and processes,” said Moran. Among the challenges the industry will see in 2018 is navigating accelerated state enforcement actions impacting compliance and process efficiency, Moran predicted.AMY POLOWYManaging Partner, Gross Polowy, PLC In her 13 years of practicing law, Amy Polowy is most proud of starting her own firm six years ago in New York with her business partner, Adam Gross. “At Gross Polowy, we have assembled a talented, hardworking team that’s committed to steadily growing the firm on the basis of its integrity. We have taken great care to build a reputation of quality, thought leadership, and client service, striving not to be the biggest but to be the best in New York,” Polowy said. The most professionally invigorating part of Polowy’s work happens while addressing difficult challenges brought to the firm by its clients who’ve sought Gross Polowy out to curate solutions that best serve their businesses. “Seeking the firm’s guidance displays our clients confidence in our abilities,” Polowy said. Polowy’s tried-and true-method of aligning client and law firm processes to create the best business exchange possible has proven a success for the firm. “Law firms in our industry should be flexible enough to adjust processes accurately and swiftly to meet the needs of the changing legal landscape and the pressure put on mortgage servicers,” Polowy said. When sharing her views on work-life balance in the industry, Polowy said, “The biggest challenge for any lawyer is keep ing a good work-life balance in a world where technology enables you to remain connected and client relationships are constantly visible via social media. It can be both a blessing and a curse.”DIANE S. ROSENBERGOwner and Managing Partner, Rosenberg & Associates, LLC When she first started her firm 15 years ago, it was common for Diane S. Rosenberg to be the sole, woman-owned business leader attending industry events. Rosenberg recalled that she often found it intimidating and challenging to prove her validity. However, she pushed through these challenges and today, utilizes her 26 years of industry experience and knowledge for her clients’ benefit. “My combined degrees in business, marketing, and law helped to build the foundation of my law firm and prepare for the ongoing challenges that my firm encounters,” said Rosenberg. Day to day, she continues to strengthen her team by making internal training a priority. “Having a well-trained workforce fosters educated, engaged, challenged, and flexible employees who have the ability to handle multiple and ongoing changes in the work environment,” Rosenberg explained. One of the most enriching parts of Rosenberg’s job as Owner and Managing Partner of Rosenberg & Associates is corroborating with her legal team to resolve difficult legal issues and presenting ‘outside-thebox’ solutions to her clients. “It is imperative that lenders and servicers present all documentation, information, and goals upfront and that they maintain open communications with their attorneys,” said Rosenberg.HOLLY R. SHILLIDAYManaging Partner—Colorado Office, McCarthy Holthus LLPAs Managing Partner of McCarthy Holthus’ Colorado office, Holly R. Shilliday enjoys mentoring the firm’s attorneys and watching them reach their full potential. “I encourage the attorneys to write articles, give continuing legal education presentations, and try new assignments to develop their legal skills. My goal is to help newer attorneys be well rounded in their professional development,” said Shilliday. A 1992 graduate of Pepperdine School of Law, Shilliday says she first went to law school to help her parents who are both small business owners. McCarthy Holthus has a reputation as a compliance-driven firm. In order to help the firm prepare for today’s challenging legal landscape, Shilliday makes sure to study new cases and legislation that affect the mortgage industry and works with the firm’s Risk Management and Compliance Group to develop forms and implement changes. She is a Member of the Council of Advisors on Consumer Credit and the Chair of the Financial Institutions Section of the Business Law Committee for the Colorado Bar Association. Her participation in these groups ensures she is up to speed on the latest developments in her areas of practice. Shilliday and the attorneys in her office set aside time to have fun as well—the office has an annual hike, plans healthy potluck lunches, and adopts a family in need during the holiday season.LAURA SUGGSAttorney, Campbell & Brannon, LLCLaura Suggs became interested in becoming a practicing attorney when she was a paralegal at an insurance defense firm after college, where she was able to work first-hand with a team of excellent lawyers. She is thankful to report that she has faced few, if any, challenges in the legal field due to her gender. “I believe this is largely due to firms like Campbell & Brannon, LLC that have strong female partners and role models paving the road before me,” said Suggs. Suggs finds she is most rewarded in her career when she takes on a complicated issue with budget and time constraints,and resolves it to the client’s satisfaction. “Recently, I represented a local nonprofit that serves thousands of people in the metro-Atlanta area in a lawsuit. We were fighting to keep the pantry and food storage open to the public. After we won, the nonprofit recognized me at their annual meeting, presenting me with an award for performing outstanding legal services. Being able to help a group that helps so many others was one of most fulfilling moments in my career,” said Suggs. Suggs believes that at its core the law is a service industry, noting that at Campbell & Brannon, “Placing the focus on ensuring that we consistently communicate with our clients about their needs helps us meet and exceed our clients’ expectations.”ANDREA TROMBERGSenior Partner/Owner,  Tromberg Law Group, P.A.Having wanted to be a lawyer since she was 10 years old, one of the highlights of Andrea Tromberg’s career has been the purchase of her law firm. “After 21 years of practice, and eight years with the firm, it was time to decide whether to continue as is, move on, or make the frightening and bold decision to take a risk and buy out the partner. I took the leap, and I am especially proud of my courage to make it happen,” said Tromberg. As firm owner, she enjoys seeing attorneys who started with her firm advance to trying contesting cases, knowing that the firm made a positive difference in their careers. As a female in the industry, she has learned that it’s important to find alternative means to make connections. “When the top decision makers are shaking hands on the golf course, or at the bar watching sports while drinking beer, I find it a challenge to keep up. I’ve had to improve my ability to strike up a conversation, find alternative ways to gain attention, and push harder to have good legal work go noticed by decision makers,” said Tromberg. In 2018, Tromberg and the attorneys at her firm look forward to continuing to help educate lenders and servicers on best practices to avoid issues when cases are filed.PHYLLIS A. ULRICHShareholder, Carlisle LawThroughout her career, Phyllis A. Ulrich has been proud to break barriers—whether it was being named an Equity Shareholder in Carlisle Law after only six years at the firm or representing creditors in Chapter 11 Bankruptcy cases at a time when few women were doing so in her area. To overcome the challenges this presented, Ulrich noted that she “made sure I knew the law surrounding my client’s position well and that confidence enabled me to avoid most challenges presented to me in a nondiverse courtroom setting.” With 26 years of practice experience, Ulrich finds the most enriching part of her job being able to still represent her clients zealously. “I have the ability to negotiate and resolve matters that benefit not only my clients but also the borrower,” said Ulrich. In her role, Ulrich also brings this attitude to guiding the firm’s staff and has helped them meet the industry’s challenges by reminding them to “keep an open dialogue with the courts and borrower/debtor bar, which can enable a much smoother practice and provide for an easy transition through any major change in the law or practice.”You can read the rest of the “Women in Law” feature in the January 2018 issue of DS News magazine, available by clicking here. Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post About Author: David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Home Prices to Continue Climbing Next: Senate Confirms Powell as Federal Reserve Chair Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Tagged with: 2018 black book Print Features top 25 women in law top 25 women of law Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2018 black book Print Features top 25 women in law top 25 women of law 2018-01-23 David Wharton Demand Propels Home Prices Upward 2 days ago Share Save January 23, 2018 2,427 Views Subscribelast_img read more

Majority of U.S. Homeowners Planning Improvements

first_img The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save  Print This Post Home / Daily Dose / Majority of U.S. Homeowners Planning Improvements Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago March 5, 2018 2,786 Views About Author: David Wharton home improvements home renovations LightStream Tax Reform 2018-03-05 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Sign up for DS News Daily Majority of U.S. Homeowners Planning Improvements Tagged with: home improvements home renovations LightStream Tax Reform Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Chains of Knowledge Next: In San Francisco, $1 Million Buys an ‘Earthquake Shack’ Related Articles in Daily Dose, Featured, Headlines, Journal, Market Studies, News For the fifth year in a row, LightStream, the online lending division of SunTrust Bank, has conducted their annual Home Improvement Survey, taking a magnifying glass to how homeowners plan to remodel, improve, and repair their homes this year. According to the survey, 58 percent of homeowners are planning some sort of home renovations in 2018.LightStream found that homeowners are willing to spend more this year as well. Forty-five percent of those surveyed said they planned to spend $5,000 or more on home renovations this year, which is an all-time high for the LightStream Home Improvement Survey. Moreover, the percentage of respondents who said they were planning to spend $35,000 or more doubled over 2017’s totals.While some homeowners will inevitably hire professionals to do the work for them, 65 percent of respondents said they planned to do at least some of the renovation work themselves. Thirty-five percent said they would tackle the projects entirely on their own. Unsurprisingly, the do-it-yourself contingent increases among younger respondents—70 percent of 18-34 year-olds surveyed said they intended to do at least a portion of the work themselves.As in previous years, outdoor renovations remain extremely popular, with 43 percent of homeowners saying they planned to make outdoor improvements, up five percent over 2017’s numbers. When it comes to interiors, nearly a third of homeowners said they planned to remodel their bathrooms in 2018, and more than one in four planning some kitchen work.Only seven percent of those surveyed said their planned repairs were a prelude to putting their home on the market (the lowest percentage since 2015). Fourteen percent of homeowners say they’re making their renovations “to prepare my home so I can stay in it as I get older.” That includes 11 percent of the 18-34 demographic and 10 percent of the 35-44 group.Supporters of the recently passed tax reform bill argued that it would help stimulate the economy, but is that translating to homeowners when it comes to home renovation plans? According to the survey, one in four homeowners who plan to renovate cited the tax reform bill as affecting their plans, with 18 percent planning to increase their budget and 7 percent planning to spend less.Most homeowners plan to pay for renovations out of their savings (62 percent), with credit cards (30 percent), home equity lines of credit (13 percent), and home improvement loans (9 percent) following down the list.You can read the full results of LightStream’s survey by clicking here. The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Fannie Mae Reaches Out to Borrowers in Wildfire Zones

first_img Previous: Florida Court Deflates Balloon Payment Plan Next: Home Prices in Nevada Grow at Break-neck Speed Home / Daily Dose / Fannie Mae Reaches Out to Borrowers in Wildfire Zones Data Provider Black Knight to Acquire Top of Mind 2 days ago Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. Sign up for DS News Daily The numerous California communities hit hard by recent desolating—and spreading—wildfires can get at least a semblance of relief from Fannie Mae in the form of mortgage assistance, the GSE reminded borrowers in a statement.Under the GSE’s guidelines for single-family mortgages, homeowners affected by the record-breaking blazes qualify to stop paying their monthly mortgage for up to 12 months, it says. During that payment pause, the homeowners will not rack up any late fees and delinquencies will not be reported to the credit bureaus.As for mortgage servicers, they have the go-ahead to suspend or trim a homeowner’s payments immediately for up to 90 days without any contact with the homeowner, if the servicer thinks the owner has been affected by a disaster, Fannie Mae explains. In many cases, help is also available via payment forbearance of up to 12 months.In addition to these direct modifications, servicers must postpone foreclosure and other legal proceedings if they believe the borrower has been affected by a disaster, Fannie’s statement notes.“Our thoughts are with the families and communities impacted by the devastating California wildfires,” Carlos Perez, SVP and Chief Credit Officer at Fannie Mae said. “Fannie Mae and our servicing partners are focused on ensuring mortgage assistance is available during this challenging time. We urge everyone in the area to be safe, and we encourage homeowners affected by the fires to contact their mortgage servicer for assistance as soon as possible.”Recent data from Realtor.com reports the fires have burned more than 130,000 acres and more than 200 square miles, “destroying 1,060 residences, 18 commercial structures, and 477 outbuildings.” Additional current damage tallies up to 186 residences, 8 commercial structures, and 64 outbuildings impacted by the ongoing blaze.Homeowners can get in touch with Fannie Mae directly by calling 1-800-2FANNIE (1-800-232-6643). For more information, they can also log on to www.knowyouroptions.com/relief. 2018-08-08 Alison Rich Share Save in Daily Dose, Featured, Foreclosure, Headlines, Journal, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Reaches Out to Borrowers in Wildfire Zones The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 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 ago About Author: Alison Rich Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago August 8, 2018 1,910 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Four States Breaking With National Delinquency Trends

first_imgHome / Daily Dose / Four States Breaking With National Delinquency Trends Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago CoreLogic Delinquency Foreclosure 2019-10-08 Mike Albanese October 8, 2019 1,774 Views Previous: David Lowman Stepping Down From Freddie Mac Next: What’s Behind Bay Area’s Lingering Zombie Homes? The Best Markets For Residential Property Investors 2 days ago 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 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. Demand Propels Home Prices Upward 2 days ago About Author: Mike Albanesecenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Related Articles Four States Breaking With National Delinquency Trends Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save in Daily Dose, Featured, Foreclosure, Loss Mitigation, News The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: CoreLogic Delinquency Foreclosure CoreLogic’s July Loan Performance Insight Report revealed that 3.8% of home mortgages were in some stage of delinquencies—down from 4.1% last July and the lowest July figure in more than 20 years. Historically, the share of delinquent mortgages in July peaked in 2010 at 11.1%. The overall delinquency rate since March 2018 for each month has been lower than during the pre-crisis period of 2000 through 2006, when the rate average 4.7%. The serious delinquency rate, which is defined as 90 days or more past due, including loans in foreclosure, was 1.3% in July. That is down year-over-year from 1.6%, and was also lower than the 1.5% average from the pre-crisis period of 2000-2006. The foreclosure inventory rate—the share of mortgages in some stage of the foreclosure process—was 0.4% in July, which is down from July 2018’s 0.5%. CoreLogic states that rising home prices have led to record amounts of home equity, reducing the risk of foreclosure. Mortgages that were 30 to 59 days past due was 1.8% in July—a slight decline from 1.98% in July 2018. The share of mortgages 60 to 89 days past due was 0.6% and unchanged from last year. Also seeing a decline was the share of mortgages entering delinquency, with just 0.8% of mortgages no more than 30 days delinquent. The 30-to-60 day transition rate fell from 15.1% in July 2018 to 13.8% in July 2019. Mortgages delinquent 60-to-90 days fell from 25.3% to 24%. Mississippi led the nation with the highest share of mortgages 30 days or more delinquent at 7.3%. Colorado had the lowest rate at 1.7%. Just four states posted annual increases in their overall delinquency rate: Vermont (+0.5%); New Hampshire (+0.2%); Minnesota (+0.1%); and Iowa (+0.1%). The New York metro had the highest share of mortgages more than 30 days delinquent 5.1%. A recent article in the New York Post said New York’s struggles are similar to that of California, and it should look no further to California for solutions. The Post said compared to New York’s “misguided policies,” California has conducted a debate on the issue and has taken “sensible steps” to alleviate the challenges. Erik Kober of the Post said California legislators have also advocated for accessory dwelling units, or additional units within existing homes on lots zoned for single-family properties. Subscribelast_img read more

Education Minister says services will continue at Cregg House

first_imgNewsx Adverts Twitter Facebook Facebook Twitter Calls for maternity restrictions to be lifted at LUH Help sought in search for missing 27 year old in Letterkenny By News Highland – June 14, 2012 Three factors driving Donegal housing market – Robinson Previous articleJohn Mc Areavey leaves Mauritius court as evidence of wife’s Post Mortem is heardNext articleHSE confirms return of pacemaker procedures to Letterkenny General News Highland The education minister is denying that government cuts will result in the loss of services to people with disabilities in the North West.It follows the announcement by the religious order the Daughters of Wisdom that they are to withdraw services at Cregg House in Sligo because of under-funding.The order claims it cannot bridge the gap caused by a 1.3 million euro cut.But the Education Minister Ruairi Quinn told the Dail that the HSE will continue to provide the same services – after the order withdraws…………[podcast]http://www.highlandradio.com/wp-content/uploads/2012/06/rq.mp3[/podcast] Google+center_img Pinterest WhatsApp RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published 448 new cases of Covid 19 reported today NPHET ‘positive’ on easing restrictions – Donnelly Pinterest Google+ WhatsApp Education Minister says services will continue at Cregg Houselast_img read more

Council agrees revised Winter Maintenance Programme

first_img Twitter Pinterest Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest By News Highland – October 10, 2011 Google+ Facebook WhatsApp WhatsApp Facebook Previous articleDonegal County Council rejects proposed Lifford one way systemNext articleLetterkenny Cllrs concerned that reduced signage costs could backfire News Highland center_img Three factors driving Donegal housing market – Robinson Twitter Donegal County Council has agreed a revised Winter Maintenance Programme after a series of meetings this afternoon involving roads officials and the various electoral areas.Engineers say there will be sufficient salt stocks in storage, and sand and grit will be made available to the public where needed.Stranorlar councillors agreed that each member could designate an area where sand and grit would be left.In terms of equipment, it’s been confirmed that the council has applied for funding from the NRA for three new snow blowers.Issues of driver availability have also been raised, with members told that there are 38 permanent drivers available for winter service, with a further 41 relief drivers being trained up.Cllr Terence Slowey said that he’s happy that the issues that councillors from the Glenties electoral area had were addressed today….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/10/slowy5301.mp3[/podcast] RELATED ARTICLESMORE FROM AUTHOR News Council agrees revised Winter Maintenance Programme Guidelines for reopening of hospitality sector published Calls for maternity restrictions to be lifted at LUH Almost 10,000 appointments cancelled in Saolta Hospital Group this week Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more