Government Agencies to Host Outreach Meeting to Discuss Financial Regulatory Burden

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Sign up for DS News Daily EGRPRA FDIC Federal Reserve Financial Regulatory Burden OCC 2014-11-14 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Government Agencies to Host Outreach Meeting to Discuss Financial Regulatory Burden  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Government Agencies to Host Outreach Meeting to Discuss Financial Regulatory Burden Demand Propels Home Prices Upward 2 days agocenter_img Three government agencies – the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation (FDIC) – will host the first in a series of outreach meetings in December 2 in Los Angeles.The purpose of the meeting will be for the agencies to discuss their collective effort to reduce regulatory burden placed on community banks by the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA).The agencies are required by the EGRPRA to review their regulations at least once every 10 years in order to identify outdated or unnecessary regulations that are imposed on deposit institutions that are insured. The regulations are divided into 12 categories as required by the EGRPRA, and the first set of categories was published in the Federal Register for comment in June. Three more public notices will be jointly published by the agencies over the next two years for public comment on the remaining regulations.The series of outreach meetings are part of the EGRPRA review to allow interested parties to comment on regulatory burden directly to the government agencies. The meetings will be open to bankers as well as representatives of consumer and community groups and other interest parties. At the outreach meetings, industry participants and panel groups will offer panel presentations, and audience members or interested parties will have the opportunity to comment at the end of each panel presentation. Audience members may also present views on any of the regulations under review during a session at the end of the meeting. Participants who do not wish to comment orally may submit their comment in writing at the meeting or through the EGRPRA web site.”Community bankers are encouraged to attend an EGRPRA outreach meeting to share their views on how to reduce unnecessary burdens in OCC, FRB, and FDIC regulations,” the agencies jointly wrote in a press release. “For those unable to attend the Los Angeles meeting in person, a live webcast will be available at the EGRPRA web site. “The December 2 outreach meeting will be at the Los Angeles branch of the Federal Reserve Bank of San Francisco. Space is limited for the event; registration for the meeting will be open until November 26 or until all seats are filled. Similar outreach meetings are scheduled in 2015 to take place in Dallas, Boston, Chicago, and Washington, D.C. Previous: CFPB Penalizes California Mortgage Lender for Illegally Compensating Employees Next: DS News Webcast: Friday 11/14/2014 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 Tagged with: EGRPRA FDIC Federal Reserve Financial Regulatory Burden OCC Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 14, 2014 650 Views Demand Propels Home Prices Upward 2 days ago Share Save in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

The Week Ahead: Is Home Price Appreciation Slowing?

first_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Kendall Baer Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago New single-family home sales took a notable upturn in July, with the month becoming the best month for new sales since 2007, according to HUD and the U.S. Census Bureau.The HUD/Census report showed that July sales leapt 12.4 percent over June, which recorded 582,000 sales, and 31.3 percent above last July. The median sales price of new houses sold in July was $294,600; the average sales price was $355,800.July’s numbers are the latest in a steady trend toward more new home sales overall, and some industry insiders think the trend is only going to continue.“Expect greater stability in the next few months,” said Tian Liu, chief economist at Genworth Mortgage Insurance. “We see tremendous growth potential in new home sales as housing demand continues to grow and the continued supply shortage of newer vintage homes.”Liu said that if anything will limit growth, it will be the limited supply of land and labor, and homebuilder’s focus on higher-price segments. Inventory shortage has been a drag on growth in many areas, particularly affecting new-to-market buyers who can’t compete with wealthier buyers in the bidding wars taking place.The new home sales report for August will be released on Monday, September 26 and the question remains whether or not this upturn will continue.To read more about July’s reported new home sales click HERE. Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. This Week’s ScheduleMonday, September 26New Home Sales for August 2016, 10 a.m.Tuesday, September 27Case-Shiller Home Prices for August 2016, 9 a.m.Consumer Confidence for September 2016, 10 a.m.Thursday, September 29Pending Home Sales for August 2016, 10 a.m. The Week Ahead: Nearing the Forbearance Exit 2 days ago Case-Shiller New Home Sales the week ahead 2016-09-25 Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Six Servicers to Speak at Affinity Management Symposium Next: FHA Permits PACE-Assessed Properties Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Is Home Price Appreciation Slowing?center_img Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Home / Daily Dose / The Week Ahead: Is Home Price Appreciation Slowing? Related Articles Case-Shiller Home Prices for July 2016, Tuesday, September 27, 9 a.m.Single-family home prices have been steadily appreciating since bottoming out a little more than four years ago—in fact, June 2016 marked the 50th consecutive month of year-over-year home price appreciation, according to the S&P CoreLogic Case-Shiller Indices for June.The indices also offered a sign that price appreciation may be slowing. June marked the fifth consecutive month that year-over-year price appreciation was either flat or slower compared with the previous month. June’s national rate of appreciation was 5.1 percent, unchanged from May; the 10-city composite index posted an over-the-year increase of 4.3 percent in June, down from 4.4 percent in May; and the 20-city composite index reported a year-over-year increase of 5.1 percent in June, down from 5.3 percent in May.“Though this is a sign that the U.S. housing market continues to stabilize, homebuyers are still being challenged as prices outpace income growth yet again,” Trulia Chief Economist Ralph McLaughlin said.The Pacific Northwest experienced the strongest year-over-year price appreciation in June with more than 10 percent. Among the 20-city composite index, the three cities with the highest year-over-year price gains were Portland (12.6 percent), Seattle (11 percent), and Denver (9.2 percent). Even with the slower national appreciation, six out of the 20 cities reported greater year-over-year price appreciation in June than in May.“Prices in last month’s three hot markets (Portland, Seattle, and Denver) continue to lead the pack with increases between 9.2 percent to 12.6 percent,” McLaughlin said.  “Though Western markets dominate U.S. price growth, San Francisco continues to show a noticeable cooldown. Home prices in the City by the Bay increased of 6.4 percent, which is the smallest annual gain since August 2012. The continued slowdown suggests the San Francisco housing market might start looking more ‘normal’ by the end of the year, but the market still has a long way to go before most Bay Area homebuyers would agree.”The latest Case-Shiller report is release on Tuesday, September 27.To read more about the Case-Shiller June report click HERE. The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News September 25, 2016 896 Views Tagged with: Case-Shiller New Home Sales the week ahead Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Property Management: Adapting to Change

first_img The Week Ahead: Nearing the Forbearance Exit 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 Home / Daily Dose / Property Management: Adapting to Change in Daily Dose, Featured, Headlines, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Property Management: Adapting to Change November 22, 2017 1,794 Views About Author: Nicole Casperson Subscribecenter_img  Print This Post Servicers Navigate the Post-Pandemic World 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] DS News talks with Joe Iafigliola, VP of Vendor Management at Safeguard Properties to discuss the obstacles associated with property management. What can mortgage professionals do to adapt? Iafigliola shares his thoughts and expertise. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: HOUSING joe iafigliola mortgage Property Management Safeguard Properties Previous: Black Friday Isn’t the Time to Go House Shopping Next: Next Post Data Provider Black Knight to Acquire Top of Mind 2 days ago HOUSING joe iafigliola mortgage Property Management Safeguard Properties 2017-11-22 Nicole Caspersonlast_img read more

Supreme Court Rejects Appeal in GSE Profits Case

first_img Previous: Inventory and Affordability Taking a Toll on Home Sales Next: Refis Rise on Low Purchase Market Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago February 21, 2018 2,465 Views Tagged with: Fannie Mae Federal Housing Finance Agency FHFA Freddie Mac GSE Profit Sweep GSE Profits GSEs Supreme Court Fannie Mae Federal Housing Finance Agency FHFA Freddie Mac GSE Profit Sweep GSE Profits GSEs Supreme Court 2018-02-21 David Wharton Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, Headlines, Journal, News Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: David Wharton Sign up for DS News Daily Supreme Court Rejects Appeal in GSE Profits Case Subscribe  Print This Post The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago This week the United States Supreme Court rejected appeals in a case challenging the federal government’s handling of profits generated by Fannie Mae and Freddie Mac since they came under government control during the 2008 financial crisis. On Tuesday, the Supreme Court justices denied appeals filed by Perry Capital LLC, Fairholme Funds, and other hedge funds and Fannie and Freddie shareholders.The dispute dates back to the government’s 2012 decision to seize Fannie and Freddie’s earnings in the wake of the financial crisis. Since January 2013, the so-called “net-worth sweep” has allowed the government to recoup the $187.5 billion in taxpayer money it spent to shore up Fannie and Freddie, sending that amount and then some back to the U.S. Treasury. It’s the “and then some” that the plaintiffs in the case take issue with.As explained by Bloomberg, “Under the original bailout terms, the Treasury received a new class of ‘senior’ preferred shares that paid a 10 percent dividend, along with warrants to acquire nearly 80 percent of the companies’ common stock.” The government revised the terms of the deal in 2012, changing things so that the government would begin receiving nearly all of the profits from the GSEs, but with no payouts when the companies suffered losses. According to the plaintiffs in the case, the government has not only recovered that original bailout amount, but some $130 billion above and beyond it—money they say does not belong to the government.Perry Capital LLC, Fairholme Funds, and other major GSE investors filed suit over the net-worth sweep in 2013, arguing that the government was dishonest about its reasons for implementing the 2012 profit sweep. In February 2017, a federal appeals court in Washington rejected the investors’ arguments, ruling that the 2008 law that created the Federal Housing Finance Agency and put the GSEs under its conservatorship was “largely insulated from legal claims,” according to Bloomberg. That ruling did allow for the plaintiffs to pursue “some contract-based claims.” With the Supreme Court’s rejection of the case, that appeals court ruling stands.David Thompson, a Cooper & Kirk attorney who represents Fairholme and other investors, said, “Although we are disappointed by the court’s order today, we remain confident that we will ultimately prevail in reversing the illegal nationalization of Fannie and Freddie.”In a June 2017 interview with Bloomberg Television, Bruce Berkowitz, Director of Fairholme Funds, Inc., speculated that the legal fight over the GSE profits “could be a 10-year process.” Home / Daily Dose / Supreme Court Rejects Appeal in GSE Profits Case The Best Markets For Residential Property Investors 2 days agolast_img read more

The Millennial Dream Home Looks Like This

first_img Tagged with: Baby Boomers dream homes Generation X Homeownership Millennials The Millennial Dream Home Looks Like This June 18, 2018 2,406 Views The Best Markets For Residential Property Investors 2 days ago  Print This Post About Author: Krista Franks Brock Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Journal, Market Studies, News Home / Daily Dose / The Millennial Dream Home Looks Like This Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Homeownership may be broadly referred to as the American Dream, but just what does that dream look for the people searching for it? Northshore Fireplace surveyed 2,000 Americans to find out what they dream of in the perfect home. “Comfortable,” “cozy,” and “spacious” were the three words survey respondents used most to describe their dream home. A majority—60 percent—prefer new construction. People prioritized “a view with peace and quiet,” as well as land and privacy, but beyond that, preferences varied by generation. Twenty percent of millennials are anxious at the thought of homeownership, which Northshore Fireplace attributes to their coming of age during the Great Recession. “Millennials came of age during the recession of 2008 and found an employment scarcity when they graduated college,” Northshore Fireplace stated with the release of its survey results. “Growing up with financial instability as the norm has an effect on future purchases, such as a 30-year mortgage.” However, about 60 percent plan to take the leap into homeownership sometime in the next five years, according to Northshore Fireplace. Millennials prefer a modern style home situated in the suburbs. Baby boomers would opt for a ranch with traditional style on the beach. Gen Xers had an ambiguous style preference: modern exterior with traditional interior. Their dream homes are in the country. The average dream home is 2,195 square feet and has 7.5 rooms, although millennials prefer about 5.67 rooms.Millennials tend to have expensive taste. While the average list price for home fitting the “dream home” criteria is $1.3 million, the average price for a millennial dream home is $1.5 million. Men also have more expensive taste in homes than women. The average list price for a man’s dream home is $1.917 million, while the average price for a woman’s dream home is $989,850. While good schools and nearby entertainment are often listed on home descriptions, these characteristics were not top priorities for survey respondents’ “dream homes.” Fifteen percent said the quality of schools in the district was important, and 11 percent said having entertainment and nightlife in close proximity was important. Northshore Fireplace noted that having entertainment and nightlife is often a consideration for city living. Perhaps because more “dream homes” are in the suburbs, this factor was less of a consideration. A majority of survey respondents believe their dream home is attainable. Sixty-four percent said they will be able to acquire their dream home during their lifetime. However, 75 percent of respondents said owning a home at all is “a lifestyle choice, not a necessity or a requirement to a ‘good life.’”Some survey respondents said they already live in their dream home. Of these, 51 percent live in the suburbs, 25 percent live in a rural area, and 24 percent live in a city. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: How Can Mortgage Professionals Promote Diversity? Next: Fighting ‘Unconstitutional Foreclosures’ in Motor City Data Provider Black Knight to Acquire Top of Mind 2 days ago Baby Boomers dream homes Generation X Homeownership Millennials 2018-06-18 Krista Franks Brock Share Save Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. The Best Markets For Residential Property Investors 2 days ago Related Articles Subscribelast_img read more

The Digital Mortgage Revolution: Servicing Challenges to Implementation

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Commentary / The Digital Mortgage Revolution: Servicing Challenges to Implementation Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: AI eMortgages Machine Learning Technology Previous: Tackling Foreclosure Challenges in Motor City Next: The Week Ahead: Bringing Together Law Firms and Mortgage Servicers AI eMortgages Machine Learning Technology 2019-05-03 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Stanley Street Subscribe in Commentary, Daily Dose, Featured, Journal, News, Servicing, Technology The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Stanley Street is a leader in the mortgage warehouse lending industry and a frequently cited expert on mortgage banking finance. He currently manages the strategic vision of Street Resource Group, Inc., a provider of information systems and business process consulting to the financial services industry. The company’s flagship technology product, the SRG Warehouse Loan System (WLS), completely automates the entire mortgage warehousing process and improves efficiency and profits for both warehouse lenders and mortgage originators. Street can be reached at [email protected]  Print This Post Demand Propels Home Prices Upward 2 days ago May 3, 2019 8,369 Views Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago With all the advancements in AI, machine learning, and similar developments taking place, it seems our industry is on the verge of a real digital mortgage revolution. On the other hand, it can also feel as though adoption isn’t happening quickly enough. Why is this?Certain obstacles to implementing technology are beyond a lender or servicer’s control. For example, the IRS does not yet provide instant turnaround on tax transcript requests, and some states still require pen-and-ink signatures on closing documents.On the other hand, most lenders and servicers face their own challenges when it comes to implementing new technologies. Here are several reasons why, and some quick thoughts on how they can be addressed.A Complex Financial ChallengeThe most obvious challenge to implementing new technology is financial—but there’s more to it than numbers alone. Many lenders and servicers are experiencing shrinking profit margins and consecutive quarterly losses. It’s not just the cost of buying or building technology that matters, either. There is the additional cost of running dual systems during the time that new technologies are being implemented and tested.As just one example, more lenders are adopting hybrid eClosings, where the note is signed in ink and submitted electronically for recording. However, fully electronic eNotes are clearly the better option—they’re more convenient for borrowers and make it much easier to perform automated reviews on loan files. However, relatively few lenders have adopted them.Until eNotes are more widely embraced, lenders, servicers, and their warehouse partners will need to accommodate both eNotes and hybrid eNotes, which adds costs to the equation. It’s an investment that will ultimately pay off, but can be difficult to justify at this time.The Investment in Vendor SelectionEvaluating technology vendors properly is absolutely essential at a time when profits are already tight. But the evaluation process also requires its own investment.The objective behind evaluating vendors is to get to the truth behind the technology being offered to you and to avoid vaporware at all costs. It’s critical to get references from other clients, even competitors, to determine whether you’ll get what you’re paying for. If a new technology provider has no track record of results, that could be an obvious red flag.Lenders and servicers must carefully examine, quantify, and ensure the ROI behind a technology before selecting a vendor. They should also consider the time and effort required to implement the technology, including the amount of training required of staff, as well as any potential hidden obstacles or capability gaps.Planning for ChangeImplementing technology inevitably demands a change in business processes. To make this transition successfully, it takes a strong buy-in and a commitment from the entire organization, as well as a willingness to invest the proper time into training. Lenders and servicers must also plan for successful cutovers to ensure their business operations and customer-service levels will not be disrupted or compromised during the implementation stageImplementing any new platform, system, or software takes a great deal of coordination. If the project manager leading the implementation is consumed with existing work priorities, the process will take longer, which adds even more expense. Even after implementation, the benefits of new technology must be constantly tested and demonstrated to your team.None of this is to say that implementing new technology isn’t worth the effort. In the short term, it may seem that way, but if pursued wisely and for the right reasons, it will pay off. It just takes real commitment, a well-defined implementation strategy, an effective training plan—and, usually, having the right partner by your side. The Best Markets For Residential Property Investors 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Digital Mortgage Revolution: Servicing Challenges to Implementation Related Articleslast_img read more

Q3 Presents Ideal Buying Conditions for First-Time Homeowners

first_img Q3 Presents Ideal Buying Conditions for First-Time Homeowners Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News Tagged with: First-time Buyers Genworth Mortgage Insurance new homeowners Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post December 16, 2020 863 Views Demand Propels Home Prices Upward 2 days ago Previous: How Housing Policy Can Advance Racial Equality Next: Attorneys Explain the CFPB’s Final Rule on Debt Collection First-time Buyers Genworth Mortgage Insurance new homeowners 2020-12-16 Cristin Espinosa Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save About Author: Phil Hallcenter_img 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 ago Home / Daily Dose / Q3 Presents Ideal Buying Conditions for First-Time Homeowners The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago First-time homebuyers were responsible for a total of 700,000 single-family home purchases during the third quarter of this year, according to new data from Genworth Mortgage Insurance. This marked a 15.7% increase from a year ago, and it also represented the greatest number of first-time homebuyers purchasing homes in 20 years and the highest level of home sales since 2006.“During the pandemic, homes have taken on new roles in people’s lives as many businesses and schools have shifted to remote operations and learning, and many social activities have shifted from locations outside the home to either online, in the backyard or outdoor spaces,” said Tian Liu, Chief Economist at Genworth Mortgage Insurance. “These added functionalities during the pandemic encouraged many Americans to become first-time homebuyers in the quarter, while historically low interest rates have made monthly mortgage payments and homes more affordable for any given level of home price.”Liu continued: “The rising housing demand also came from existing homeowners this quarter resulting in increased repeat buyer activity, as rapid and profound shifts in both work and life changed where people want to live, the kind of homes they want, and how much they want to pay.”Also helping to fuel interest, Liu added, were mortgage rates, which dropped from 3.36% in June to the record low of 3.01% in September, and credit access to low down payment mortgages. During the third quarter, 577,000 first-time homebuyers, or 82% of the first-time homebuyer market, bought their residences using a low-down-payment mortgage. Low-down payment conventional mortgages backed by private mortgage insurance financed a record 285,000 first-time homebuyers, up 34% year-over-year, while the Federal Housing Administration’s loan programs helped finance 195,000 first-time homebuyers during the quarter, an 8% year-over-year increase.The number of first-time homebuyers in the third quarter increased by 16.3% from the second quarter to a seasonally-adjusted annual rate of 2.55 million, the fastest pace recorded since the company began tracking this data. The third quarter got off to a speedy start with a record 244,000 first-time buyers in July – an increase by 45,000 from June – and continued in August and September at 233,000 and 223,000.“Given the strong market condition in the year so far, 2020 will likely have one of the strongest first-time homebuyer markets in history, approaching previous highs of 2.38 million in 1999 and 2.26 million in 2000,” Liu continued. “This comes after three years of strong first-time homebuyer market activity, when the number exceeded 2 million each year.”However, the third quarter gains were not universal. The new data determined that 47 states and territories reported a higher number of first-time homebuyers, with only Pennsylvania, New York, Michigan, Puerto Rico, and Hawaii had fewer first-time homebuyers compared to one year earlier. Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Seriously Delinquent Mortgage Loans Up 1.7 Million in 2020

first_img 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. Home / Daily Dose / Seriously Delinquent Mortgage Loans Up 1.7 Million in 2020 Seriously Delinquent Mortgage Loans Up 1.7 Million in 2020 Subscribe Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago January 22, 2021 2,623 Views Share Save 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: Christina Hughes Babb in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago 2020 ended with 2.15 million seriously delinquent mortgage loans, that is 1.7 million more seriously delinquent homeowners than when 2020 began — “a looming reminder of the challenges facing the market in 2021,” according to the First Look mortgage loan performance report from Black Knight, published Friday, which includes data from the full year.The increase exists despite continuous months of improvement; In December, the overall delinquency rate fell to its lowest level since 2020, and serious delinquencies (90+ days late) improved by 400,000 loans.The number of seriously delinquent homeowners in 2020 hit 2.6 million—according to Black Knight, that’s a 250-plus% increase in 90-day default activity.Foreclosures, on the other hand, are at all-time lows, thanks to moratoriums and forbearance plans meant to protect distressed homeowners from facing foreclosure in the wake of the pandemic. Foreclosure starts and sales (completions) fell to record lows. Starts fell by 67% from 2019 and the year’s 40,000 completions represented an annual decline of more than 70%.The analysts at Black Knight said prepayment activity ended the year 112% higher than in December 2019, which they say highlights a still-strong refi market going into 2021.”Even with Freddie Mac reporting the 30-year average at 2.77% Friday morning, there are still some 16.7 million refinance candidates who meet broad-based eligibility criteria and could also cut their first mortgage rate by 0.75% or more,” according to Black Knight’s report, which is available on Black Knight’s blog.Black Knight’s delinquency numbers count all homeowners who have missed payments, whether they are in forbearance plans or not. That said, borrowers in forbearance should not have missed payments reported to the credit bureaus by their servicers. 2021-01-22 Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Previous: How Janet Yellen’s Economic Policy May Impact the Industry Next: Fannie Mae Names New VP and Chief Risk Officer Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Postlast_img read more

Mac Lochlainn criticises review of school transport scheme

first_img Facebook Homepage BannerNews Twitter Nine Til Noon Show – Listen back to Wednesday’s Programme Twitter Mac Lochlainn criticises review of school transport scheme GAA decision not sitting well with Donegal – Mick McGrath Calls for maternity restrictions to be lifted at LUH Pinterest Google+ By admin – December 14, 2016 RELATED ARTICLESMORE FROM AUTHORcenter_img Google+ Pinterest Three factors driving Donegal housing market – Robinson WhatsApp The review of the school transport scheme has been heavily criticised with a view that it doesn’t go far enough to address issues in Donegal.Concern has been raised by many parents in the county over their children’s inability to access the schools they wish because other schools are deemed to be closer.Donegal Senator Padraig MacLochlainn is now calling on the Education to go back to drawing board:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/12/padschool.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleMan arrested following suspicious death in ColeraineNext articleAnonymity granted to two men on drug charges at Derry Magistrate’s Court admin Guidelines for reopening of hospitality sector published Facebooklast_img read more

Sister of missing Mary Boyle calls for independent inquiry into the case

first_img Sister of missing Mary Boyle calls for independent inquiry into the case Previous articleMinister predicts new water charges regime will end public angerNext articleCouncil expected to pass Budget for 2015 today News Highland By News Highland – November 18, 2014 The sister of Mary Boyle has reiterated her call for an independent inquiry into her disappearance almost 40 years ago.Mary was six when she went missing while visiting her grandparents’ home in Cashelard, Ballyshannon on March 18 in 1977.Her sister Anne claims that Mary may have been about to reveal a secret which caused her to come to harm.Journalist Gemma O’Doherty says Anne is not happy with the Garda investigation into her sister’s disappearance – she spoke earlier on the Shaun Doherty Show: Google+ Nine Til Noon Show – Listen back to Wednesday’s Programme Pinterest Facebook Twitter WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebookcenter_img WhatsApp Twitter Guidelines for reopening of hospitality sector published Homepage BannerNews Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Pinterest GAA decision not sitting well with Donegal – Mick McGrath RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH last_img read more