May 2021

DS News Webcast: Monday 11/25/2013

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2013-11-25 DSNews Previous: LoanLogics Unveils MERS Monitoring and Review Service Next: Pending Sales Slip to Lowest Reading in Nearly a Year Is Rise in Forbearance Volume Cause for Concern? 2 days ago Demand Propels Home Prices Upward 2 days ago in Featured, Media, Webcasts  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago About Author: DSNews Related Articles November 25, 2013 438 Views Home / Featured / DS News Webcast: Monday 11/25/2013 Share Save The Best Markets For Residential Property Investors 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago DS News Webcast: Monday 11/25/2013 Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Florida Man Receives 21-Month Prison Sentence for Fraud

first_img Florida Fraud SIGTARP Troubled Asset Relief Program 2015-01-23 Brian Honea Demand Propels Home Prices Upward 2 days ago January 23, 2015 1,053 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save  Print This Post Florida Man Receives 21-Month Prison Sentence for Fraud A Florida man has been sentenced to 21 months in federal prison for a fraud scheme perpetrated against businesses and individuals seeking lines of credit, according to an announcement on Friday from Christy Romero, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP).The sentence was handed down by U.S. District Judge Edward Chen to Michael Pitamber Ramdat, 30, of Palm Bay, Florida, on Wednesday, January 21, according to the announcement from SIGTARP and Melinda Haag, U.S. Attorney for the Northern District of California, and David J. Johnson, Special Agent in Charge of the FBI San Francisco Field Office. Ramdat was indicted on November 21, 2013, on five counts of wire fraud and one count of conspiracy. He pleaded guilty to all counts on June 11, 2014.Court documents stated that Ramdat and his business partner, Leigh Farrington Fiske, of Tampa, Florida, operated a business called Corporate Funding solutions, the purported purpose of which was to obtain lines of credit for customers who paid a fee. Fiske solicited customers for the business via the Internet and word of mouth, but the two men never intended to offer any services for the fees collected. Ramdat served as a “customer service” representative, where his job was to vouch for the legitimacy of the business with victims recruited by Fiske and to provide excuses to victims of the fraud.The two men collected about $433,000 from approximately 30 victims without obtaining lines of credit for them or providing any services at all. Ramdat admitted that he kept more than $200,000 of the money. The two men funneled monies they received from the scam through banks that received funding through TARP, according to the plea agreement.Last month, Fiske was sentenced by Judge Chen to 37 months in prison, which he will begin serving on March 31. In addition to the prison sentence, Ramdat was sentenced to three years of supervised release and ordered to pay restitution. He will begin serving his prison sentence immediately. 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. Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Florida Man Receives 21-Month Prison Sentence for Fraud Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, News Tagged with: Florida Fraud SIGTARP Troubled Asset Relief Program Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Report: Investors Move Toward Potential Ocwen Lawsuit Next: DS News Webcast: Monday 1/26/2015 Subscribe About Author: Brian Honea Sign up for DS News Daily last_img read more

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first_imgHome / Daily Dose / Expanded Loan-Level Dataset Aimed at Helping Investors Support Credit Risk Offerings Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago Freddie Mac on Monday announced that all fixed-rate single-family mortgages have been added to the Enterprise’s publicly available Single-Family Loan-Level Dataset, bringing the total of mortgage loans in that dataset up to 21.5 million.The loans in Freddie Mac’s Single-Family Loan-Level dataset were all originated between January 1, 1999, and December 31, 2014. The dataset that was publicly available previously included only loan-level and actual loss data for 30-year fixed-rate single-family mortgage loans owned or guaranteed by Freddie Mac.The goal of the expanded dataset is to help investors build more accurate credit performance models in support of Freddie Mac’s single-family credit risk offerings by providing transparency for a wider range of mortgage loans owned or guaranteed by Freddie Mac, according to the announcement.“Providing investors with this expanded view of credit risk for additional fixed-rate single-family mortgages will enable us to grow and evolve our credit risk offerings by expanding the products available for risk transfer and increasing the amount of risk transferred to private investors,” said Kevin Palmer, SVP of Credit Risk Transfer at Freddie Mac. “Releasing this data now will help give potential credit investors sufficient time to analyze Freddie Mac’s actual loss performance.”Freddie Mac’s historical dataset originally became available in March 2013. According to Monday’s announcement:Approximately 3.3 million of the loans contained in the loan-level credit performance expanded dataset are 15- and 20-year fixed rate single-family mortgages originated between January1, 2005, and December 31, 2014; approximately 18.2 million of the loans are 30-year fixed-rate mortgages originated between January 1, 1999, and December 31, 2014.Monthly loan performance data is included in the expanded dataset. This includes credit performance information up to and including property disposition up to June 30, 2015.Information that the expanded dataset does include: data on adjustable-rate mortgages, balloon mortgages, initial interest mortgages, government-insured mortgages, relief financing mortgages (including the government’s Home Affordable Mortgage Program, or HAMP), as well as other non-standard or affordable mortgages“Freddie Mac continues to look for opportunities to transfer mortgage credit risk to private investors in an economically sensible way,” Palmer said. “Adding all fixed-rate products to our Single-Family Loan-Level Dataset allows us to explore other credit risk transfer opportunities.”Click here to access Freddie Mac’s Single-Family Loan-Level Dataset. Subscribe Previous: Did Advocates to Eliminate GSEs Engage in a Conflict of Interest? Next: North Carolina Borrowers Receive Foreclosure Relief Money from SunTrust Settlement Tagged with: Credit Risk Transfer Freddie Mac Single-Family Loan-Level Dataset Related Articles  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Expanded Loan-Level Dataset Aimed at Helping Investors Support Credit Risk Offerings Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Secondary Market Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Credit Risk Transfer Freddie Mac Single-Family Loan-Level Dataset 2015-12-07 Brian Honea The Best Markets For Residential Property Investors 2 days ago December 7, 2015 1,000 Views last_img read more

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Non-Profit Gets in on Freddie Mac’s Delinquent Loan Sale

Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago March 23, 2016 1,220 Views Home / Daily Dose / Non-Profit Gets in on Freddie Mac’s Delinquent Loan Sale About Author: Brian Honea Share Save Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Freddie Mac Nationstar Mortgage Non-Performing Loans Non-Profits Freddie Mac Nationstar Mortgage Non-Performing Loans Non-Profits 2016-03-23 Brian Honea 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. Non-Profit Gets in on Freddie Mac’s Delinquent Loan Sale Related Articles  Print This Post 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, News, Secondary Market The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Dispelling Myths Around Millennials and Homeownership Next: It’s Still All About the Inventory Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Democratic lawmakers and housing advocates have been calling for the GSEs to sell non-performing loans (NPLs) to non-profits and Community Development Financial Institutions, and on Wednesday, they partially got their wish.Freddie Mac announced as part of a $1.4 billion NPL sale that the winning bidder in two of the pools was Community Loan Fund of New Jersey, Inc. Of the 6,816 deeply delinquent loans sold as part of the auction, 296 of them were included in the two pools sold to the non-profit. According to Freddie Mac, the first pool consisted of 113 loans in Miami, Florida, that were an average of 57 months delinquent, with $27 million in unpaid principal balance (UPB). The second pool consisted of 183 loans in Tampa, Florida, that were an average of 51 months delinquent, with $37.6 million in UPB.Those two pools were sold as Extended Timeline Pool Offerings (EXPOs), which are smaller, geographically-concentrated pools of loans that target participation from smaller investors, including non-profits, minority- and women-owned businesses, neighborhood advocacy funds, and private investors who are active in the NPL market, according to Freddie Mac.The transaction consisted of seven pools total: the two EXPOs and five Standard Pool Offerings (SPOs). The winning bidders in the SPO auctions were LSF9 Mortgage Holdings for three of the pools and Rushmore Loan Management Services for two of the pools. The loans in the seven pools combined were an average of four years delinquent.In March 2015, Freddie Mac’s regulator, FHFA, announced enhanced guidelines for NPL sales by the GSEs aimed at achieving better outcomes for borrowers. Bidders must identify their servicing partners and must complete a questionnaire demonstrating a record of successful loss mitigation. Servicers must apply a “waterfall of resolution tactics” before resorting to foreclosure. Given the deeply delinquent status of the loans, many of them have already been evaluated for are in various stages of loss mitigation. According to Freddie Mac, 34 percent of the aggregate pool balance of loans were previously modified and then became delinquent.In early March 2016, a group of 45 members of the House of Representatives led by Mike Capuano (D-Massachusetts) wrote a letter to HUD Secretary Julián Castro and FHFA Director Mel Watt suggesting improvements to the agency NPL sales programs, including disqualifying “bad actors” from the process and making the programs more transparent. Democratic lawmakers and housing advocates have complained that private investors, to which a majority of the agency NPLs are sold, are more concerned with making a buck than they are with achieving the best outcomes for borrowers and neighborhoods.Earlier this week, Republican lawmakers Rep. Jeb Hensarling (R-Texas), Chairman of the House Financial Services Committee, and Sen. Richard Shelby (R-Alabama), Chairman of the Senate Banking Committee, wrote a letter to Castro and Watt urging them to reject calls to change the agency NPL sales programs, saying that any changes may pose a threat to taxpayers. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe read more

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Economy Receives a Slight Boost—Or Does It?

Tagged with: GDP U.S. Economy U.S. Housing Market  Print This Post 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 Home / Daily Dose / Economy Receives a Slight Boost—Or Does It? The Week Ahead: Nearing the Forbearance Exit 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 Previous: GSE Reform: ‘Let’s Not Wait Until the Next Crisis’ Next: The RMBS Settlements Just Keep on Coming About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago Related Articles 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 in Daily Dose, Featured, News Economy Receives a Slight Boost—Or Does It? Demand Propels Home Prices Upward 2 days ago Share Save 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. Sign up for DS News Daily March 25, 2016 1,184 Views GDP U.S. Economy U.S. Housing Market 2016-03-25 Brian Honea The U.S. economic picture has been mixed as of late, as job gains were back up in February but the growth in financial markets such as stocks, U.S. dollar, and oil prices, has not been enough to offset the flatness in economic growth.The economy received a slight boost Friday when the Bureau of Economic Analysis (BEA) announced that the gross domestic product (GDP) grew at an annual rate of 1.4 percent in its third and final estimate for Q4—an increase from 0.7 percent in the first Q4 estimate released in January and 1.0 percent in the second Q4 estimate released in February.“Final fourth quarter GDP numbers showed slight improvement over earlier estimates but represented a disappointment as a close to the year,” Fannie Mae chief economist Doug Duncan said. “The 2 percent growth rate fourth quarter over fourth quarter for 2015 correlates with the majority view in our National Housing Survey that the economy is on the wrong track even though this current expansion is now the fourth longest since World War II.”He continued, “The upward revision in consumer spending’s contribution to growth is consistent with our expectations that consumers will provide sufficient support to keep the economy from backsliding. However, that will be insufficient to push the economy forward beyond the 2 percent rate of growth as the decline in corporate profit, the drag of the strong dollar, and the manufacturing slowdown all suggest 2016 will be more of the same for growth.”GDP growth, even with the slight upward revision for the third Q4 estimate, was still down by a full percentage point over-the-year (2.4 percent for Q4 2014).“The slowdown in growth over the year reflects drags from slowing PCE (personal consumption expenditures) growth, inventory adjustments following an earlier surge, declines in the energy sector based on collapsing oil prices, and to a lesser extent a strong dollar weakening exports,” said National Association of Home Builders (NAHB) Assistant VP for Forecasting and Analysis Robert Denk. “Upward revisions to PCE growth, a winding down of energy sector declines, more sustainable inventory investment, and a modest weakening of the US dollar so far in 2016, potentially spurring exports, combine to point to accelerating GDP growth going forward.”Even with the increase in GDP production for Q4’s final estimate, housing’s share of the GDP effectively remained unchanged at 15.30 percent, according to the NAHB. The NAHB reported, however, that the building and remodeling component of housing, residential fixed investment (RFI) had expanded for the fifth straight quarter up to 3.32 percent of the total GDP.RFI, which is the measure of how homebuilding, multifamily development, and remodeling contributes to the GDP, during Q4 2015 was at its highest level since the first quarter of 2008. According to NAHB, RFI’s 3.32 percent share of the economy amounted to seasonally adjusted annual pace of $547 billion, which was an improvement of 2.42 percent over the third quarter. RFI contributed 0.33 points to the growth of the GDP during Q4, meaning that without RFI, the GDP would have increased by 1.07 percent without RFI. Historically, RFI averages about 5 percent of GDP.The other housing component that impacts GDP, housing services (which includes gross rents and utilities paid by renters, estimates of the cost to rent owner-occupied units, and utility payments, represented 11.98 percent of the economy, which calculated to a seasonally-adjusted annual rate of $1.97 trillion. Historically, housing services have averaged 12 to 13 percent of the economy.Earlier in March, the Federal Reserve deemed economic growth insufficient enough for a rate hike. In Fannie Mae’s March 2016 Economic and Housing Outlook, Duncan stated that “We see lingering effects of the strong dollar, low oil prices, and soft overseas demand creating a drag on economic growth. However, the economy appears to have regained some footing after a slowdown in the fourth quarter of 2015, as stocks bounced back and oil prices have risen amid a strengthening labor market. Current labor market and inflation conditions continue to support our expectation of a fed funds rate hike of 25 basis points each in June and December.” Subscribe read more

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Nation’s Capital Experiencing Record Housing Growth

first_imgSubscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Nation’s Capital Experiencing Record Housing Growth Sign up for DS News Daily November 10, 2017 1,486 Views Housing market updates released Friday by Bright MLS report that the Baltimore, Maryland and Washington, D.C. areas reached record highs in median sales prices at $260,000 for Baltimore and $413,125 for Washington, D.C.Both areas’ October 2017 price levels were the highest price levels for October in the last decade. In the case of Washington, D.C., the median sales price marked the 13th consecutive month of year-over-year price increases, according to Bright MLS.In the home prices arena, prices also rose compared to last year, with Baltimore townhomes and condominiums up 5.6 percent to $190,000 and 2.1 percent to $219,500. The respective growth numbers for the D.C. area were up 3.8 percent to $410,000 for townhomes and up 3 percent to $307,000 for condos. Single-family detached home prices were also up 3.1 percent to $324,000 in Baltimore and 3.7 percent to $508,180 in D.C. Additionally, both Baltimore and D.C. numbers are over their five and ten-year averages, according to Bright MLS.Closed sales for both areas were also up, with 3,097 in Baltimore and 4,320 in D.C. at rates of +1.2 percent and +8.8 percent, respectively. As with the home prices, both these numbers are well above the five and ten-year averages for the respective regions.New pending sales for both areas showed growth, with 3,677 up 7.3 percent for Baltimore and 4,969 up 2.2 percent for D.C. Bright MLS states that pending sales activity numbers for the regions of both areas were mostly up, as well.The Baltimore housing market had 4,677 new listings in October while D.C. had 5,770. Those numbers are up 8.1 percent from last year but down 2.1 percent from last month and up 6.9 percent from last year and down 17.2 percent from last month, respectively. Baltimore did not list any decreases in listings, but Falls Church City of the D.C. region saw a percentage decrease in new listings.However, Bright MLS also reports that both month’s end inventories and days-on-market (DOM) were down for both markets. Baltimore had a growth of -11.3 percent for an active inventory of 10,612 while D.C. was down 2.8 percent for 10,105 active listings. The DOM for Baltimore also dropped by 8 to 32 days compared to last year while D.C. dropped 6 to reach a median of 17 days from last year.Finally, in average sales price to original list price ratio (SP to OLP), Baltimore was at 95.4 percent and D.C. was at 98 percent. According to the report, the Baltimore number was the highest October level in a decade for the market. Baltimore Bright MLS Growth Housing Market Washington D.C. 2017-11-10 Staff Writer The Best Markets For Residential Property Investors 2 days ago Previous: Is Peer-to-Peer Lending the New Subprime Mortgage? Next: FDIC Continues a Complaint Against Banks’ RMBS Practices Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Nation’s Capital Experiencing Record Housing Growth Share Save Tagged with: Baltimore Bright MLS Growth Housing Market Washington D.C. 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  Print This Post The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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Before the Next Disaster Strikes

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  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Previous: Appraisers Not Required to Fill Form 1004MC, Says Fannie Next: ALAW Announces Merger With Felty and Lembright Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Related Articles Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. in Daily Dose, Featured, Foreclosure, Headlines, Journal, News Before the Next Disaster Strikes About Author: Kristina Brewer 2018-08-09 Kristina Brewer Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago After 2017, a year of natural disasters that racked up nearly $306 billion dollars in total economic losses, organizations in the mortgage and housing industry are taking heed and proceeding into the 2018 disaster season and beyond with caution and preparation.Industry leaders are announcing foreclosure prevention programs and postponement options, like Fannie Mae’s recent statement assisting borrowers affected by the recent California wildfires. Additionally, CoreLogic, a global property information, analytics and data-enabled solutions provider, has announced the launch of its publicly-accessible risk information center, Hazard HQ, which will “offer individuals, media, and companies high-level analyses and up-to-date data insights on the immediate risks natural catastrophes pose to properties across the country.”Hazard HQ offers a “high-level risk perspective for individuals and companies who wish to understand how hazards like earthquakes, floods, hurricanes, severe convective storms, wildfires, wind and volcanic activity can impact their regions.” The ongoing California wildfires are the current focus of the latest Hazard HQ risk summary, with plans to continue that assessment as the blazes continue across the state.“Mortgage and insurance professionals are struggling to see the complete picture of risk when natural catastrophes strike, particularly as these events evolve and grow as the ongoing wildfires in California have done,” said Maiclaire Bolton Smith, senior leader, research & content strategy at CoreLogic. “Hazard HQ was designed to drive visibility of natural catastrophe risk and act as a home base for all insights pertaining to these risks. It’s the latest endeavor in the CoreLogic commitment to making risk information accessible as the economic impact of natural catastrophes increases.”These announcements are accompanied by reports from organizations like the Urban Institute, which recently released an article diving into the effects that still linger on in the lives of disaster victims. Issues such as inaccessibility to the owner of the household due to emergency relocation in order to begin inspection or a discrepancy in quality and consistency of inspectors and techniques left many victims of Hurricane Harvey out in the cold, the authors note.As Fannie Mae noted in their statement announcing their mortgage assistance programs, the safety of these borrowers and homeowners remains a major concern in the industry’s operations.“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 in a statement. “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.”See more stories about the industry’s reaction to recent disasters here:Hurricane Harvey’s Effect on Flood Insurance CoverageSenate Extends National Flood Insurance ProgramHUD Approves $1.5B Disaster Aid for Puerto RicoPreparing for Natural Disasters: An Industry Perspective Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Before the Next Disaster Strikes August 9, 2018 1,523 Views Subscribelast_img read more

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Study: How the Pandemic Is Impacting Mortgage Delinquencies

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Study: How the Pandemic Is Impacting Mortgage Delinquencies Demand Propels Home Prices Upward 2 days ago Nearly 11 million households fell behind on their mortgage and rent payments during the first three months of the COVID-19 pandemic, according to a new report published to the Mortgage Bankers Association’s (MBA) Research Institute for Housing America (RIHA).The report, titled “Housing-Related Financial Distress During the Pandemic,” culled previously unpublished data from the Understanding America Study, an internet panel survey of more than 8,000 households. The data analysis determined that 5.14 million homeowners, of 8% of the national total, missed or deferred at least one mortgage payment during the pandemic’s first three months while 5.88 million renters, or 11% of the national total, either missed, delayed, or reduced payment on their housing costs.Furthermore, the report found the percentage of those who reported having lost a job in the past two weeks held steady throughout the quarter, with roughly 2.5% of renters and 1.5% of mortgagors becoming unemployed. Approximately 9% of employed renters and 8% of employed mortgagors were working fewer hours than at the beginning of the pandemic, while 12% of renters and 6% of mortgagors were receiving unemployment insurance benefits by the end of June.“RIHA’s study shows that households were largely successful in navigating a difficult economic landscape and continued to make their housing payments during the first three months of the outbreak. In contrast, nearly half of student debt borrowers missed at least one payment,” said Gary V. Engelhardt, co-author of the report and Professor of Economics in the Maxwell School of Citizenship and Public Affairs at Syracuse University. “Data from other sources reveal that this trend has continued through August. With the first round of federal stimulus having run its course, and Congress deadlocked in passing another round of relief, families’ continued ability to meet their housing obligations during the ongoing pandemic is critical to the health of the housing and mortgage industries.”The report follows the release of the MBA’s 2020 National Delinquency Survey for the second quarter, which reported the delinquency rate at 8.22% by June 30, with roughly 20% of mortgagors receiving permission from their lender to delay or reduce their monthly payment. Of those mortgagors not receiving permission, only 3.3% missed a payment. The MBA estimated missed mortgage payments were as much as $16.3 billion for the second quarter. Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save in Daily Dose, Featured, News Subscribe 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. 2020-09-21 Christina Hughes Babb Related Articles September 21, 2020 2,028 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Previous: CDC-Issued Eviction/Foreclosure Moratorium Targeted by Lawsuits Next: DS5: Industry Experts Discuss the Importance of Virtual Conferences Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Phil Hall The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Study: How the Pandemic Is Impacting Mortgage Delinquencieslast_img read more

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Housing Market Stays Strong Amid Slow Economic Recovery

first_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago December 4, 2020 942 Views Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Veronica Bradley has covered the consumer packaged goods industry, the tech industry, the healthcare industry, and a few other industries that impact people’s daily lives. When she isn’t researching and writing, she moonlights as an amateur accountant and bookkeeper for a small family brewpub, because unlike most writers, she isn’t afraid of numbers. Housing Market Stays Strong Amid Slow Economic Recovery in Daily Dose, Featured, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Share 2Savecenter_img 2020-12-04 Cristin Espinosa The Best Markets For Residential Property Investors 2 days ago Previous: Can America Stave Off ‘Wave of Homelessness’ Next: The Week Ahead: The Impact of the 2020 Wildfires About Author: Veronica Bradley The Best Markets For Residential Property Investors 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Housing Market Stays Strong Amid Slow Economic Recovery Demand Propels Home Prices Upward 2 days ago How long will economic recovery take? CNN Business says that if things continue at November 2020’s pace, it will take the US until March 2024 to return to where it was in February 2020.Because of COVID-19 occupancy restrictions, online shopping trends, and other effects of social distancing, many industries haven’t hired back the majority of their laid-off or furloughed employees. In fact, only around half of the people who lost their jobs have returned, and the recovery slowed significantly in November.The one market, however, that is holding steady is the housing market. In fact, it has been able to recover better than other industries.“The only major sector to display immunity to the economic impacts of the coronavirus is the housing market, which has experienced a strong V-shaped recovery,” said Odeta Kushi, Deputy Chief Economist at First American. “This is largely due to the fact this has been a services-driven recession, disproportionally hurting younger, lower-wage renters that are less likely to be homeowners or home buyers.”Kushi also reports that residential building is approaching pre-pandemic levels, which will help with inventory.“Since more hammers leads to more homes, the continued rise in residential construction employment was welcome news for a housing market in desperate need of more supply,” said Kushi.Overall, the November 2020 Jobs Report does show 245,000 new jobs during the month, so things are improving. However, compared to previous months, it shows a major slowdown. October added 610,000 jobs, for example.The economy is down 9.8 million jobs since February, and at only 245,000 new jobs a month—pending this new trend sticks—it will take years to catch back up to pre-pandemic numbers. Over half of jobs have been recovered in the last eight months, but the curve is flattening rapidly. And usually, this time of year sees an increase in jobs with temporary workers being hired for busy holiday needs. With COVID-19, that isn’t happening this year.But those who are still gainfully employed are purchasing homes, keeping the housing market steady.“Indeed, total low-earning job losses in the third quarter were down 9.6 percent relative to the first quarter, while total high-earning job losses were only down 2.7 percent,” said Kushi. “The bifurcated landscape has allowed potential homeowners who are still employed to channel increased savings towards buying a home and take advantage of record low mortgages.” Sign up for DS News Daily Subscribelast_img read more

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Councillor claims government ignores local authority motions

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – October 11, 2010 Newsx Adverts Councillor claims government ignores local authority motions Facebook Donegal Councillor Frank Mc Brearty has accused the government of ignoring motions moved by local authorities.Cllr Mc Brearty says ministers send stock replies to the council promising that matters are “receiving attention”, but nothing is done.This morning, Cllr Mc Brearty was supported by all members when he moved a motion calling for commitments that services will be protected at all hospitals in the county.However, he says previous experience suggests the motion will be ignored as soon as it is sent to Dublin:[podcast]http://www.highlandradio.com/wp-content/uploads/2010/10/frankon-gove.mp3[/podcast] Twitter Google+ Calls for maternity restrictions to be lifted at LUH NPHET ‘positive’ on easing restrictions – Donnelly Twitter WhatsAppcenter_img Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous article30 cars vandalised in Derry: Sectarian motive suspectedNext articlePublic meeting to discuss mental health stigma News Highland Google+ WhatsApp Three factors driving Donegal housing market – Robinson Pinterest Guidelines for reopening of hospitality sector published Facebook RELATED ARTICLESMORE FROM AUTHORlast_img read more

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