DS News Webcast: Friday 3/8/2013

first_img 2013-03-08 DSNews Home / Featured / DS News Webcast: Friday 3/8/2013 Share Save DS News Webcast: Friday 3/8/2013 The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Featured, Media, Webcasts The Best Markets For Residential Property Investors 2 days ago Coverage:- LPS: Foreclosure Inventory 3xs Higher in Judicial States- Study: Counseling Reduces Delinquencies by Around 30%Visit www.DSNews.com for all of your relevant Default Servicing News Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Administration Reports Improvements from Housing Market, Servicers Next: Fitch Sees Potential in FHFA’s Goals to Attract Private Capital The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago March 8, 2013 543 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: DSNews Sign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days agolast_img read more

Senator Seeks to Permanently Extend Foreclosure Protection for Servicemembers

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Previous: Nationstar Posts Net Loss in First Quarter Next: CFPB Report Finds 26 Million American Adults Have No Credit History in Daily Dose, Featured, Foreclosure, News Foreclosure Protection Senator Sheldon Whitehouse Servicemembers 2015-05-05 Brian Honea U.S. Senator Sheldon Whitehouse (D-Rhode Island) has announced legislation that would permanently protect servicemembers and their families from losing their homes to foreclosure, according to a release on Whitehouse’s website.Whitehouse announced the legislation at the 8th Annual Veterans Breakfast and Resource Fair at the Rhode Island National Guard Armory. Attendees at the breakfast included representatives from federal and state agencies, employers, and veteran service organizations to assist veterans with information, employment opportunities, and other services.”I look forward to this breakfast every year,” Whitehouse said. “It’s an opportunity to talk with Rhode Island veterans and their families about the issues they face, and provide an update on my work to ensure that veterans get the benefits, care, and fair treatment they’ve earned. This year I was also proud to announce the introduction of the Foreclosure Relief and Extension for Servicemembers Act. After fighting for our country overseas, our troops shouldn’t have to fight to keep a roof over their heads when they return home, and this bill will help.”The bill, which Whitehouse introduced into the Senate on Thursday, April 30, would permanently extend foreclosure relief to servicemenbers provided by the Foreclosure Relief and Extension for Servicemembers Act of 2014, introduced by Whitehouse last May and signed into law by President Obama in December after unanimously passing in both the House and the Senate.Whitehouse has fought for years to protect the rights of servicemembers who are homeowners. Last year’s bill extended until January 1, 2016, a provision that sets one year as the time a servicemember’s house is protected from foreclosure upon his or her return from active duty, if the mortgage was obtained before the servicemember was an active member of the military. The Commission on the National Guard and Reserves had submitted a report that prompted the foreclosure protection extension from 90 days to nine months in 2008. The period was extended to nine months as part of the Servicemembers’ Civil Relief Act (SCRA) in 2008 and lengthened further to one year in 2012 as part of a bill introduced by Whitehouse.But while last year’s bill extended the foreclosure protections until January 1, 2016, the bill introduced by Whitehouse last week would permanently extend those protections.”Servicemembers coming back from active duty often need time to regain their financial footing, particularly those in the National Guard and Reserves who give up their full-time jobs to fight for our freedom,” Whitehouse said. “To honor their service and grant them peace of mind, we need to provide sensible, permanent foreclosure protection for our veterans.” Senator Seeks to Permanently Extend Foreclosure Protection for Servicemembers Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post May 5, 2015 2,027 Views Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honea Home / Daily Dose / Senator Seeks to Permanently Extend Foreclosure Protection for Servicemembers The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Foreclosure Protection Senator Sheldon Whitehouse Servicemembers 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. Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

Nearly All Metro Areas See Home Price Appreciation in Q2

first_imgSubscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: home price appreciation Home Prices Housing Market NAR National Association of Realtors August 11, 2015 1,778 Views Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Home / Daily Dose / Nearly All Metro Areas See Home Price Appreciation in Q2 Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home prices rose in almost all metro areas in the U.S. mostly due to the increase in home sales during Q2, according to the latest quarterly report by the National Association of Realtors (NAR).Despite low inventory levels, the median existing single-family home price increased in 93 percent of measured markets, with 163 out of 176 metropolitan statistical areas (MSAs) showing gains based on closings in the second quarter compared with the second quarter of 2014. Meanwhile, only 13 areas recorded lower median prices from the previous year.”Steady rent increases, the slow rise in mortgage rates, and stronger local job markets fueled demand throughout most of the country this spring,” said Lawrence Yun, NAR’s chief economist. “While this led to a boost in sales paces not seen since before the downturn, overall supply failed to keep up and pushed prices higher in a majority of metro areas.”According to the NAR, price gains were recorded in 85 percent of metro areas in the first quarter. In addition, 34 metro areas experienced double-digit increases in the second quarter, a decline from the 51 metro areas in the first quarter.”With home prices and rents continuing to rise and wages showing only modest growth, declining affordability remains a hurdle for renters considering homeownership—especially in higher-priced markets,” Yun said.On a national level, the median existing single-family home price in the second quarter was $229,400, an increase of 8.2 percent from the second quarter of 2014 when the price was $212,000. Year-over-year, the median price rose 7.1 percent in the first quarter.San Jose, California metro area topped the list of the most expensive housing markets, with a median existing single-family price of $980,000, followed by San Francisco, California ($841,600); Anaheim-Santa Ana, California ($685,700); Honolulu, Hawaii ($698,600); and San Diego, California ($547,800).There were 2.30 million existing homes available for sale at the end of the second quarter, slightly above the 2.29 million homes for sale at the end of the second quarter in 2014. NAR says the average supply during the second quarter was 5.1 months—down from 5.5 months a year ago.NAR also reported that the total number of existing-home sales, including single family and condo, increased 6.6 percent to a seasonally adjusted annual rate of 5.30 million in the second quarter from 4.97 million in the first quarter.”The ongoing rise in home values in recent years has greatly benefited homeowners by increasing their household wealth,” Yun said. “In the meantime, inequality is growing in America because the downward trend in the homeownership rate means these equity gains are going to fewer households.”Chris Polychron, NAR president and executive broker with 1st Choice Realty in Hot Springs, Arkansas noted that the Realtors are reporting strong competition and limited days on market for available homes—especially at the entry-level price range.”Buyers should work with their Realtor to deploy a negotiation strategy that helps their offer stand out,” Polychron said. “If a bidding war occurs, it’s important for the buyer to stay patient and only counteroffer up to what he or she can comfortably afford. It’s better to walk away and wait for the right home instead of being in a situation where one has purchased a home above their means.”Click here to view the National Association of Realtors full report.  in Daily Dose, Featured, Market Studies, News About Author: Xhevrije Westcenter_img Nearly All Metro Areas See Home Price Appreciation in Q2 Previous: Circuit Court Revives FDIC’s Securities Suit Against Deutsche, Goldman, and RBS Next: DS News Webcast: Wednesday 8/11/2015 The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Share Save home price appreciation Home Prices Housing Market NAR National Association of Realtors 2015-08-11 Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago 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 agolast_img read more

Existing-Home Sales Continue Surge While First-Time Buyer Sales Fall

first_img Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Existing-Home Sales Continue Surge While First-Time Buyer Sales Fall  Print This Post Existing-Home Sales Continue Surge While First-Time Buyer Sales Fall Sign up for DS News Daily Existing-home sales rose higher in July, while low inventory levels and rising prices are the largest factors lowering sales to first-time buyers to their lowest share since January, according to a report from the National Association of Realtors (NAR) released Thursday.Total existing-home sales rose 2.0 percent to a seasonally adjusted annual rate of 5.59 million in July from a downwardly-revised 5.48 million in June. July sales were at the highest pace since 5.79 million in February 2007. Existing sales have now increased year-over-year for 10 consecutive months and are 10.3 percent above the pace a year ago at 5.07 million.The report also found that single-family home sales increased 2.7 percent to a seasonally adjusted annual rate of 4.96 million in July to their highest level since 5.08 million in February 2007. Single-family sales were 4.83 million in June, and are now 11.0 percent above the 4.47 million pace a year ago.Source: NAHBMany economists believe that the growth in existing-home sales can be mostly attributed to growth in the employment sector.“In some markets, this boost has been led by job growth –a key sign that the recovery is on track,” said Selma Hepp, Trulia’s chief economist. “As millennial employment improves, young adults will continue to move out of their parents’ homes and form their own households, first as renters and then as homeowners.”Lawrence Yun, NAR chief economist, added, “The creation of jobs added at a steady clip and the prospect of higher mortgage rates and home prices down the road is encouraging more households to buy now. As a result, current homeowners are using their increasing housing equity towards the down payment on their next purchase.”According to the NAR, the median existing-home price for all housing types in July was $234,000, which is 5.6 percent above July 2014. This in increase marks the 41st consecutive month of year-over-year gains. The median existing single-family home price was $235,500 in July, up 5.8 percent from July 2014.”Despite the strong growth in sales since this spring, declining affordability could begin to slowly dampen demand,” Yun said. “Realtors in some markets reported slower foot traffic in July in part because of low inventory and concerns about the continued rise in home prices without commensurate income gains.”“The creation of jobs added at a steady clip and the prospect of higher mortgage rates and home prices down the road is encouraging more households to buy now.” —Lawrence Yun, NAR chief economistNAR reported that total housing inventory declined 0.4 percent to 2.24 million existing homes available for sale at the end of July. This total is now 4.7 percent lower than a year ago when inventory levels reached 2.35 million.“Tight inventory across the country continues to put pressure on home prices,” Hepp said. “As more potential buyers are being pushed out of the market, home sellers may be reluctant to sell if there is a perception that they might not be able to find another home to buy–thus perpetuating the problem.”Another decline was recorded in the percent share of first-time buyers in July for the second consecutive month. First-time buyers in July lowered to 28 percent from 30 percent in June, the lowest share since January of this year which was 28 percent.”The fact that first-time buyers represented a lower share of the market compared to a year ago even though sales are considerably higher is indicative of the challenges many young adults continue to face,” Yun said. “Rising rents and flat wage growth make it difficult for many to save for a down payment, and the dearth of supply in affordable price ranges is limiting their options.”Lisa Edwards, director of business strategy with Forsalebyowner.com, told DS News that she believes that challenges will always persist with first-time homebuyers. She also added that market conditions like “faster wage growth, continued relaxed lending standards, and interest rates hovering around 4 percent” will be needed to reach first-time buyers.Click here to view the complete NAR report.  The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Housing Markets are Strongest Where Values Exceed Pre-Crisis Levels Next: FDIC Suit Claims BNY Mellon Breached Trustee Duties for $2 Billion Worth of RMBS Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Xhevrije West in Daily Dose, Featured, Market Studies, News Tagged with: Existing Home Sales First-Time Homebuyers Housing Inventory Housing Market National Association of Realtorscenter_img Data Provider Black Knight to Acquire Top of Mind 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 August 20, 2015 1,430 Views Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Existing Home Sales First-Time Homebuyers Housing Inventory Housing Market National Association of Realtors 2015-08-20 Brian Honea Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

The Week Ahead: Five Star Conference Gathers Industry Leaders

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago September 10, 2016 1,013 Views Sign up for DS News Daily 2016-09-10 Kendall Baer  Print This Post Previous: First Multi-Servicer NPL Sale Announced by Freddie Mac Next: REO Agents and Brokers Prepare for the Future The Best Markets For Residential Property Investors 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Kendall Baer Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Share Savecenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Week Ahead: Five Star Conference Gathers Industry Leaders Related Articles Will Upcoming Foreclosure Report Show Further Decline?National foreclosure completions in June were up 5 percent from May, but compared to a year ago, the number of foreclosures is definitively down, according to the  June 2016 National Foreclosure Report  from CoreLogic.June’s 38,000 foreclosures is a bump from May’s 36,000, but is 26 percent down from a year ago, and still 67.5 percent down from the foreclosure peak of 117,835 in September 2010. As of June, CoreLogic reported, the national foreclosure inventory included approximately 375,000, or 1 percent, of all homes with a mortgage, compared with 507,000 homes (1.3 percent) last year. Overall, June’s foreclosure inventory was down 3.6 percent compared with May and is the lowest for any month since August 2007.”The impact of the inexorable reduction over the past several years in both foreclosure trends and serious delinquencies is driving the long-awaited return to more historic norms for the U.S. housing market,” said Anand Nallathambi, president and CEO of CoreLogic. “We expect the combination of continued home price appreciation of more than 5 percent and rising employment levels in the year ahead will help cement the gains we have had and perhaps accelerate them.”The latest CoreLogic National Foreclosure Report for July 2016 is set to come out Tuesday, September 13th.This week’s scheduleSunday, September 11 through Tuesday, September 1313th Annual Five Star Conference and Expo, Hilton Anatole, Dallas, TexasTuesday, September 13CoreLogic July 2016 National Foreclosure ReportDiscussion of possible amendments and vote on the Financial CHOICE Act, House Financial Services CommitteeFriday, September 16Consumer Sentiment Survey for September 2016, University of Michigan, 10 a.m. EST in Daily Dose, Featured, Headlines The Week Ahead: Five Star Conference Gathers Industry Leaders Real estate and mortgage servicing professionals from all over the country will gather under one roof for the preeminent business growth and educational opportunity this week at the 13th Annual Five Star Conference and Expo, which starts Sunday, September 11, and continues through Tuesday, September 13, at the Hilton Anatole Hotel in Dallas, Texas.This year’s conference will include a keynote address from Laura Bush, First Lady of the United States (2001-2009), a performance from country music star Trace Adkins, six Five Star Labs presented by experts in the real estate and mortgage industries, and endless networking opportunities.The Five Star Conference and Expo is the mortgage industry’s largest event of the year. In addition to the industry-leading education, Five Star’s groups such as the Legal League 100, American Mortgage Diversity Council, National Mortgage Servicing Association, and FORCE will also convene. This year’s conference will include a policy and industry update from the Consumer Financial Protection Bureau on the Bureau’s new servicing rules updates.Subjects covered in the labs will be Single-Family Rentals, Foreclosures, Investment Strategies, Compliance, Property Management, REO, and Servicing, and will be directed by the nation’s top executives in their respective fields.At the conference on Monday night, Five Star will celebrate and honor the U.S. military with the Military Heroes Keys for Life event, which will include a concert from Trace Adkins and the donation of mortgage-free homes to five wounded veterans and their families. The conference will conclude on Tuesday with the Fourth Annual Women in Housing Leadership Forum, during which attendees will have the opportunity to hear from female trailblazers in the real estate and mortgage industries and the important lessons they have learned during their careers. This event will feature a keynote address from Laura Bush.To register or to find more information on the 2016 Five Star Conference and Expo, click here.Editor’s note: The Five Star Institute is the parent company of MReport, and TheMReport.com. Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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, TX. Born and raised in Texas, Kendall now works as the online editor for DS News. The Best Markets For Residential Property Investors 2 days agolast_img read more

Senate Banking Committee Mulls Powell and Montgomery Noms

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 27, 2017 1,705 Views David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Data Provider Black Knight to Acquire Top of Mind 2 days ago The U.S. Senate Banking Committee will be setting its sights on a pair of high-profile nomination hearings on Tuesday morning. First up, the Committee will meet in Executive Session beginning at 9:45 a.m. EST to vote on several nominations, perhaps most notably that of Brian Montgomery as Assistant Secretary for Housing—Federal Housing Commissioner, U.S. Department of Housing and Urban Development. Following that, at 10 a.m. EST, the Banking Committee will conduct a full open-session hearing on the nomination of Jerome Powell as Chairman of the Board of Governors of the Federal Reserve System.President Trump nominated Powell as Fed Chair on November 2. A Federal Reserve Board governor who previously worked as a private-equity executive, Powell would succeed current Fed Chair Janet Yellen. After Powell’s nomination, Yellen announced on November 20 that she would be resigning from the Federal Reserve Board in February 2018, rather than serving out the remainder of her term through 2024.Powell’s nomination is largely expected to meet little resistance in the Senate. Although Powell is a Republican and was nominated by President Trump, Democrats voted for him almost unanimously in 2012 and 2014 when he was nominated for the Fed board by President Obama.During a June 1 speech to the Economic Club of New York, Powell said, “While the recent performance of the labor market might warrant a faster pace of tightening, inflation has been below target for five years and has moved up only slowly toward 2%, which argues for continued patience, especially if that progress slows or stalls.”As for Brian Montgomery, he is currently Vice Chairman of The Collingwood Group, a Washington D.C.-based advisory firm that he co-founded, and he previously served as Federal Housing Administration commissioner under former President George W. Bush. His supporters include the Mortgage Bankers Association, which urged the Senate Banking, Housing, and Urban Affairs Committee to pass Montgomery’s nomination in a letter this past September. In the letter, David H. Stevens, CMB, President and CEO of the Mortgage Bankers Association said, “MBA applauds the nomination of Brian Montgomery to lead the Federal Housing Administration. His previous experience will serve him well in this position. I hope the Senate will move quickly to confirm Brian and we look forward to working with him.”During his October testimony before the Senate Committee on Banking, Housing, and Urban Affairs, Montgomery said, “Some of my Republican friends and colleagues still ask why I agreed to serve in a Democratic Administration and my answer has always been the same: they asked for my help. It was that simple. Now when I’m asked why I would want to return to HUD, the answer is just as simple: I believe I can make a positive difference.” Demand Propels Home Prices Upward 2 days ago assistant secretary for housing Brian Montgomery Department of Housing and Urban Development executive session fed chair Federal Housing Administration federal housing commissioner Federal Reserve System FHA HUD Jerome Powell Senate Banking Committee 2017-11-27 David Wharton Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton Home / Daily Dose / Senate Banking Committee Mulls Powell and Montgomery Noms Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, Journal, News Senate Banking Committee Mulls Powell and Montgomery Nomscenter_img  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Related Articles Previous: Protecting Mortgage Consumers from Watchful Eyes Next: Senate Banking Committee Votes Yes on Brian Montgomery Nomination The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: assistant secretary for housing Brian Montgomery Department of Housing and Urban Development executive session fed chair Federal Housing Administration federal housing commissioner Federal Reserve System FHA HUD Jerome Powell Senate Banking Committee Share Save Subscribelast_img read more

Are Recession Fears Overshadowing Actual Market Trends?

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Are Recession Fears Overshadowing Actual Market Trends? The Best Markets For Residential Property Investors 2 days ago Share Save Sign up for DS News Daily market correction Recession 2020-01-14 Mike Albanese Tagged with: market correction Recession 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: Krista F. Brock Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Demand Propels Home Prices Upward 2 days agocenter_img 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. Servicers Navigate the Post-Pandemic World 2 days ago January 14, 2020 2,530 Views Home / Daily Dose / Are Recession Fears Overshadowing Actual Market Trends? The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Linking the Housing Affordability Crisis and Homelessness Next: Wells Fargo, JPMorgan Announce Q4 Results Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Many seem to be waiting on bated breath for signals of an economic recession, reading into even seemingly positive headlines with apprehension and signs of another recession that mimics that of 2008. Others insist we are not on the cusp of economic doom and are unlikely to see a recession, especially one with such vast implications in the housing market as the last. Are we so preoccupied with these broad trends that we are missing something already transpiring? Perhaps this is the case. Daren Blomquist, VP of Market Economics at Auction.com, said in an article this week, “With so much focus on monitoring for the launch of another economic recession, an emerging home price correction could be taking flight under the radar.”  Home price correction is already transpiring, and the industry is beginning to see some weakening of the housing market. According to a December report from BuildFax, the chance of an impending economic recession peaked in September of last year and was down to 42% by the end of the year. However, home prices are expected to decline in one quarter of local real estate markets, according to the 2020 Housing Forecast from realtor.com. At the national level, prices will increase just 0.8%, while prices in some previously hot markets will decline. Blomquist emphasized that “these local market declines won’t be driven by an economic recession or by destined-to-fail mortgage products, but by migration patterns triggered in large part by buyers chasing affordability—a trend that was already evident in 2019.” Already 13% of local markets posted annual price declines in Q3 2019, according to Auction.com’s analysis of data from ATTOM Data Solutions. Several higher-priced markets were among those that posted price declines. For example, prices in Bridgeport, Connecticut, dropped 4.8% over the year in Q3 2019, while prices in San Jose, California, dropped 3.2%. The nation is beginning to see new migration patterns that follow affordability. Already, some expensive markets, especially along the west coast, are experiencing new migration trends as residents leave to pursue more affordable housing elsewhere. On the other hand, markets in Arizona, Nevada, and Texas are experiencing an influx of residents leaving expensive markets in California, according to realtor.com. At the same time, residents from expensive markets in the Northeast are seeking affordable options in the Carolinas, Georgia, and Florida. “The move to affordability trend will continue in 2020, fueled by the twin forces of Baby Boomers retiring and seeking sunnier weather, lower taxes and lower cost of living, and Millennials searching for family-friendly lifestyles and affordable housing,” according to realtor.com. While slowing and depreciating home prices may help bring affordability to some markets, Blomquist also pointed out some negative effects, including lower home equity and a potential for an uptick in home loan defaults. He pointed out that homeowners often rely on home equity as a “safety net” in the case of a loan default. Particularly, recent homebuyers with loans backed by the Federal Housing Administration may be vulnerable as they have little or no equity at their disposal. Total “tappable equity” is now on the decline, falling 1% in Q3 2019. However, it was still up 5% from a year earlier, according to data from Black Knight. Another recent market development that can make the market vulnerable is the large sales of non-performing loans. About 42% of former GSE loans sold in NPL sales have fallen into foreclosure, and another 24% remain unresolved.  in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Assessing the Pass-Through Assistance Program

first_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, Print Features Demand Propels Home Prices Upward 2 days ago Seth Appleton was designated as Principal EVP of Ginnie Mae in October 2019 by HUD Secretary, Dr. Benjamin Carson. In this role, he is focused on bringing global capital to U.S. government mortgage loan programs by maintaining a liquid and attractive security for investors, modernizing the Ginnie Mae platform, and operating a fiscally sound program that minimizes risk to taxpayers.Previously, he was HUD’s Associate Deputy Secretary and was HUD’s Acting Assistant Secretary and General Deputy Assistant Secretary for Congressional and Intergovernmental Relations. July 2, 2020 1,169 Views What were the expectations for the program when it began, and what are your expectations moving forward?Just as we don’t have a volume target per se in the day-to-day administration of the Ginnie Mae program, we don’t have an uptake target on Pass-Through Assistance for COVID-19. But we clearly thought that the forbearance policies being implemented at the ensuring and guaranteeing agencies would cause some liquidity stress for some of our program participants. We thought it was better to be safe than sorry and have this last-resort financing option available in the marketplace.Some issuers have come to us, others have tapped corporate reserves, others have secured financing from third parties, and others have really relied upon excess funds being generated by refinance transactions to cover delinquent principle and interest. But going forward, we’re going to continue to monitor delinquencies and forbearances closely and evaluate each application that comes in every month on its own merit. The short answer to it is there is no particular target for uptake, but we just wanted to make sure it was available to serv 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. Subscribe The Best Markets For Residential Property Investors 2 days ago Previous: Loan Denial Rates Decline Next: Reshaping Debt Collection Demand Propels Home Prices Upward 2 days ago  Print This Post This story originally appeared in the July edition of DS Newscenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago What are the steps Ginnie Mae leadership took to create the Pass-Through Assistance Program?It was really a study in teamwork and collaboration from everybody from the Secretary on down here at HUD and at Ginne Mae; it really came together quickly. We took stock of the situation that was emerging in the market due to the COVID-19 emergency, and really had four key objectives in mind as we developed a solution. One, we want to ensure the continued flow of principal and interest to our investors, because, after all, we are a full faith and credit guarantee program at our core. We wanted to support the forbearance policies that are ensuring and guaranteeing agencies, which are VA, HUD, and USDA. We wanted to mitigate servicing disruptions to our borrowers, of course, and we want to minimize risk to taxpayers. And so those were the four key objectives that we identified quickly. We reviewed our existing authorities and programs to see where this might be a good fit and landed on the framework of our chapter 34 Disaster Assistance Program. But we did add a couple of distinguishing features to it.First, the Pass-Through Assistance Program for the COVID-19 National Emergency is nationwide in scope. And secondly, the provisioning of assistance under this program does not constitute a default in and of itself. That is a significant change from the way that our Disaster Program has previously operated. After we identified the objectives and the policy course, we felt that it was important to let the market know what we had in mind and what that would entail. We published a blog post on GinnieMae.gov, and two weeks after that announcement, we released an all participant memorandum, MBS guide changes in corresponding appendices to implement the program for our single-family MBS program. And then we followed that up in May actually, by extending the Pass-Through Assistance Program to the multifamily MBS program. That’s how we got from the idea to execution. Assessing the Pass-Through Assistance Program About Author: Mike Albanese Related Articles 2020-07-02 Mike Albanese Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Assessing the Pass-Through Assistance Program Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Share Save The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Single-Family Rental Investment Amid COVID-19

first_img in Daily Dose, Featured, Media, News, Webcasts Home / Daily Dose / Single-Family Rental Investment Amid COVID-19 The latest episode of DS5: Inside the Industry features an interview with Stephanie Casper, VP of Sales for LendingHome.Casper discusses how the real estate industry is progressing when it comes to adopting and adapting to technology–something that is essential to most industries during this pandemic and beyond–and about the state of the single-family rental lending.You can watch the video at the embed below or at the following link. Tagged with: DS5 Single-Family Rental Investment Amid COVID-19 Related Articles Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago August 28, 2020 1,413 Views DS5 2020-08-28 Christina Hughes Babbcenter_img Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Christina Hughes Babb 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 Previous: The Latest in Mortgage Forbearance Data Next: The Week Ahead: Update on Unemployment 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more

Toomey: Congress Must Address ‘Fundamental Flaws in the System’

first_img  Print This Post Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Senate Banking Committee on Tuesday held a virtual hearing titled, “Home = Life: The State of Housing in America,” during which, according to a presser from the Banking Committee, members held “a robust discussion on the issue of housing finance reform.”Ranking Committee Member Pat Toomey (R-Pa.), in conjunction with the hearing, released a set of “guiding principles for housing finance reform.”Senator Toomey in said proposal set the framework for legislation “to end the government-sponsored enterprise (GSE) duopoly and foster a liquid secondary mortgage market while protecting taxpayers and promoting equitable access for all lenders.””The housing finance system remains in urgent need of reform,” Toomey said. “The current system exposes taxpayers to risk of future bailouts, fosters excessive risk taking, and crowds out private capital. I hope my colleagues, the administration, and all interested stakeholders will join me in working to implement these responsible reforms to prevent yet another financial crisis.”Here are key points from Toomey’s plan for housing finance. He aims to:Transition the GSE duopoly toward a competitive secondary market;End the conservatorships of Fannie Mae and Freddie Mac;Establish a level playing field for other sources of private capital that bear mortgage credit risk;Foster a liquid secondary mortgage market that promotes the continued availability of affordable 30-year and other long-term fixed-rate mortgage loans across the United States and throughout the economic cycle;Protect taxpayers by ensuring that significant first-loss private capital stands in front of any government support and that taxpayers are appropriately compensated for that support;Promote equitable access to the secondary mortgage market by mortgage lenders of all sizes, business models, charter types, and locations; andProvide for a smooth transition to the reformed housing finance system by ensuring that reforms are incremental and realistic, leveraging the existing regulatory and market structure.On behalf of the National Association of Realtors (NAR), Charlie Oppler, a Realtor from Franklin Lakes, N.J., and the CEO of Prominent Properties Sotheby’s International, expressed support for Toomey’s statement and priorities, saying, “The GSEs now support nearly 80% of the U.S. residential market, and it is more important than ever that Fannie and Freddie’s transition from conservatorship be developed collaboratively and deliberately. While some points of disagreement remain, we look forward to working with Senator Toomey and policymakers from both sides of the aisle as these conversations progress over coming months.”In his remarks, Toomey pointed out that the housing market is cyclical.”It’s a question of when—not if—there will eventually be a housing downturn. The GSEs and the housing finance system are not prepared. FHFA Director Calabria and the last Administration made significant progress in reforming the system. Thanks to their good work, the net worth sweep has been suspended, and the GSEs finally have begun to build capital under a constructive new capital rule.”He added that “more than 12 years after the financial crisis, Congress has still not addressed the fundamental flaws in the system that led to the crisis.”Finally, Toomey says, “I know we have significant differences about the role of government in the housing market, but I believe compromise is possible. There is much that can be productively done on a bipartisan basis in this Congress.”Toomey’s entire remarks are recorded at bankingsenate.gov. 2021-03-17 Christina Hughes Babb Toomey: Congress Must Address ‘Fundamental Flaws in the System’ The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Toomey: Congress Must Address ‘Fundamental Flaws in the System’ Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles About Author: Christina Hughes Babb Share Save 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. Subscribe 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 The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago March 17, 2021 743 Views Previous: While Forbearance Activity Decreases, Many Homeowners Remain in Plans Next: Housing Market Forecast Remains Bright, Despite Rise in Rates Servicers Navigate the Post-Pandemic World 2 days agolast_img read more