DeMarco Steps Down as Senior Deputy Director of the FHFA

first_img Related Articles  Print This Post DeMarco Steps Down as Senior Deputy Director of the FHFA Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / DeMarco Steps Down as Senior Deputy Director of the FHFA The Best Markets For Residential Property Investors 2 days ago Previous: DS News Webcast: Tuesday 3/25/2014 Next: Regulations Pose “Continued Operational Problems” Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Edward DeMarco Fannie Mae FHFA Freddie Mac Mel Watt 2014-03-25 Tory Barringercenter_img Servicers Navigate the Post-Pandemic World 2 days ago After serving the Federal Housing Finance Agency (FHFA) for nearly six years, former acting director and current senior deputy director Edward DeMarco announced his intent to part ways with the agency at the end of April.DeMarco confirmed his departure plans in a letter directed to current agency director Mel Watt.“I appreciate your invitation to assist you with the recent leadership transition and I have been pleased to do so,” the message reads in part. “With the transition now well along, I believe the time has come for me to seek other opportunities.”He made no announcements about his future plans.DeMarco’s 28-year career as a public servant has spanned multiple agencies, including the Social Security Administration, the Department of the Treasury, the U.S. General Accounting Office, and the Office of Federal Housing Enterprise Oversight (OFHEO), FHFA’s predecessor agency, where he served as COO and deputy director. Starting from FHFA’s inception in 2008, he worked as the agency’s COO and senior deputy director for Housing Mission and Goals.It was in 2009 that President Obama designated DeMarco as acting FHFA director, moving the former deputy into a role that made him a lightning rod in the ongoing debate over how to move housing forward after the crash.Perhaps the biggest point of contention in DeMarco’s tenure leading the agency has been his steadfast refusal to direct Fannie Mae and Freddie Mac to allow principal forgiveness on troubled mortgages. He expressed his own thoughts and that of FHFA on the matter in a statement to lawmakers in 2012:“Given our multiple responsibilities to conserve the assets of Fannie Mae and Freddie Mac, maximize assistance to homeowners to avoid foreclosures, and minimize the expense of such assistance to taxpayers, FHFA concluded that [plans for principal reduction options] did not clearly improve foreclosure avoidance while reducing costs to taxpayers relative to the approaches in place today,” he said.While his stance attracted praise from some—including Tennessee Sen. Bob Corker, who since then has become an active voice in GSE reform—it also made him a target for irate consumers, who started petitions calling for his dismissal. (Also jumping into the fray was noted economist and liberal columnist Paul Krugman, who made his feelings known in a piece titled simply, “Fire Ed DeMarco.”)Nevertheless, DeMarco continued to stick to his policy, even in his resignation letter, noting: “FHFA has existed for less than six years and during that time has faced enormous challenges that required balancing multiple legal and policy requirements and goals.”As a closing thought, he also expressed his “earnest hope” that recent initiatives from policymakers to reform housing finance take hold.“I have publicly stated numerous times that the conservatorships of Fannie Mae and Freddie Mac were never intended to be a long-term solution,” he said. “Congress must act to bring the conservatorships to an end and chart the course for a new structure for housing finance.”For his part, Watt—who separated himself from DeMarco’s style early on by suspending a prior directive to raise guarantee fees—lauded the departing deputy for his work as the agency moved from one director to another.“Ed has been an invaluable asset to FHFA and I appreciate his assistance to me during this transitional period,” Watt said in a statement. “Throughout his 28 year career as a public servant he has made many important public policy contributions grounded in his strong background in housing finance. I wish him the very best in his future endeavors.” in Daily Dose, Featured, Government, Headlines, News March 25, 2014 1,490 Views Demand Propels Home Prices Upward 2 days ago 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 Tagged with: Edward DeMarco Fannie Mae FHFA Freddie Mac Mel Watt Sign up for DS News Daily Share Savelast_img read more

Top 5 Hottest SFR Markets

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Single-Family Rentals 2017-07-11 Brianna Gilpin in Daily Dose, Featured, Market Studies, News About Author: Brianna Gilpin Related Articles Tagged with: Single-Family Rentals Home / Daily Dose / Top 5 Hottest SFR Markets Demand Propels Home Prices Upward 2 days ago Previous: Things That Go Down, Must Go Up? Next: Celebrating the Women Leaders in Housing and Mortgage Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save July 11, 2017 1,347 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Top 5 Hottest SFR Markets Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected]  Print This Post The single-family rental home market is consistently growing across the nation, according to HouseCanary, Inc. Rental Investment Index second quarter update.Composed of nearly 20 million homes, the HCRI Index allows single-family rental home investors, lenders, and renters to keep track of the health of the single-family-for-lease market based on median Effective Gross Yields on national, state, and ZIP code levels.Due to difficulties in benchmarking this market, the HCRI helps investors identify accurate information regarding this surprisingly growing rental market.“The ability to know where to invest with this level of granularity has never been possible before, and it is going to revolutionize this market,” said Dave Garland, a single-family rental investor, and Partner at Second Century Ventures.Effective Gross Yields were highest in the Midwest and the South, making states in these regions the top performers nationwide. Mississippi leads the states at 12.9 percent, followed by Indiana and Ohio.However, according to HouseCanary, the most notable update this quarter is the difference in yields within the highest and lowest Metropolitan Statistical Areas (MSAs).Rochester, New York earns the spot of the national leader in Effective Gross Yield with 17.2 percent. The following top MSAs include Memphis, Tennessee, Cleveland, Ohio, Buffalo-Cheektowaga-Niagara Falls, New York, and Birmingham-Hoover, Alabama. These cities with the highest percentage of yields all surpassed 12 percent effective yields on average, higher than any state last quarter.The lower part of the list is filled with MSAs from California, six cities specifically, where housing prices continuously increase faster than the growth in rents. In fact, California cities make up the three lowest effective yields, all below 5 percent.Overall, 28 of the top 50 MSAs in the country surpassed the nationwide average Effective Gross Yield of 8 percent this quarter.last_img read more

Is It Hot in Here?

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Senate Budget Committee Approves Republican Tax Bill Next: Counsel’s Corner: Brigham Lundberg talks Foreclosure Environment Subscribe  Print This Post November 28, 2017 1,901 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago 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 Related Articles 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] Tagged with: Home value Forecast Housing Markets Pro Teck Pro Teck Valuation Services Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home value Forecast Housing Markets Pro Teck Pro Teck Valuation Services 2017-11-28 David Wharton About Author: David Wharton Home / Daily Dose / Is It Hot in Here? Share Save What a difference three years can make. Pro Teck Valuation Services has released a new Home Value Forecast, tracking housing market data between October 2014 and October 2017. During that period, many housing markets across the nation surged from “weak” to “hot.” That’s good news, but what is driving the change?Pro Teck’s Home Value Forecast analyzes market trends and historical data for the top 200 core-based statistical areas (CBSAs) in the United States and then tracks their recovery from “weak” to “hot.” (The other Market Condition Ratings include “soft,” “normal,” “good,” and “strong,” respectively.) Looking at the data from October 2014 through October 2017, that period saw the number of “hot” markets jump from only 7 all the way to 78. The number of “strong” markets also increased dramatically, going from 38 to 62.In October 2014, 22.5 percent of the CBSAs tracked by Pro Teck’s Home Value Forecast had a rating of “strong” or “hot.” Three years later in October 2017, that number had increased to 70 percent. In that same time frame, the number of CBSAs with a “soft” or “weak” rating drop from 39 percent to 10.5 percent.Tom O’Grady, CEO of Pro Teck Valuation Service, said, “Limited inventory and a backlog in construction has left a void in available housing stock, leading to a strong real estate market filled with competitive buyers, increased prices and many same-day sales.”Pro Teck’s analysis credits changes in foreclosure sales as a primary driving factor in this recovery. “During the recovery, metros with larger proportions of foreclosure sales as a percent of market sales saw a muted recovery,” says Pro Teck’s Home Value Forecast report. “Nowhere was this more evident than in Florida.” Between 2014 and 2017 helped spike three different Florida CBSAs from “weak” to “strong”: Deltona-Daytona Beach-Ormond, Florida, Orlando-Kissimmee-Sanford, Florida, and Palm Bay-Melbourne-Titusville, Florida. In each of these CBSAs, the foreclosure sales as a percentage of market sales dropped from the 30 percent range to between five and seven percent between 2014 and 2017.You can read Pro Teck’s entire Home Value Forecast by clicking here. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Is It Hot in Here? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Journal, Market Studies, Newslast_img read more

Single-Family Rentals Over the Past Decade

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Journal, Market Studies, News Home / Daily Dose / Single-Family Rentals Over the Past Decade Sign up for DS News Daily Single-Family Rentals Over the Past Decade After the financial crisis hobbled the housing industry back in 2008, the number of rented abodes skyrocketed. Today, that number continues to climb, as more people opt—for one reason or another—to live the leasing lifestyle, according to the Terner Center for Housing Innovation at the University of California, Berkeley, which conducted a national survey of single-family renters to better weigh their experiences and motivations.Between 2006 and 2016, more than 3.8 million additional households became single-family renters, the center notes. By the time 2015 rolled around, nearly one in five single-family homes was occupied by a renter, and today, single-family rentals make up the fastest-growing portion of the housing market, the Terner Center says.To tease out the qualitative factors behind their choice to rent a home, the Terner Center analyzed why a growing number of renters are choosing to reside in single-family rental properties. What researchers found is this: the reason households often opt to rent is completely unrelated to the housing stock itself.Nearly two-thirds of respondents were already renters before relocating into their current digs—35.8 percent rented single-family homes while 30 percent had been living in multifamily units. Some 42.9 percent said they were renting because it was more affordable and convenient, offered more flexibility, and/or provided them access to a nicer neighborhood. Almost one in five survey takers said they had no desire to own a home in the future.Another data point: People rent single-family homes for their size and amenities (“private laundry,” no shared walls with neighbors, space for pets, etc.) and because of the benefits inherent to single-family neighborhoods. Only one out of 190 said they’d prefer to reside in a multifamily dwelling instead. Popularity notwithstanding, the American homeownership dream is still alive and well: 80 percent of single-family renters said they desire to purchase a place of their own within the next five years, the study says. Among those, almost one-third said their decision stems from a desire to shield themselves from rent increases and/or evictions. “The study illuminates that many of these renters are interested in homeownership, but the tightened credit box in the wake of the financial crisis has made it more difficult for renters—even among those with higher incomes—to qualify for a mortgage,” the study reports. “While there are numerous factors that have contributed to this tightening of lending standards, it is critical that policymakers working to revamp the housing finance system consider questions of access.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Tagged with: Affordability Home Rental Market Homebuyers Rental Renters Single Family Rental Demand Propels Home Prices Upward 2 days ago Related Articles Affordability Home Rental Market Homebuyers Rental Renters Single Family Rental 2018-04-20 Alison Rich Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Five Star’s Ed Delgado Criticizes Senate HUD Nomination Hold Next: Housing Optimism Resilient to Storms April 20, 2018 3,095 Views Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post About Author: Alison Rich Subscribelast_img read more

Fed Keeps Interest Rates Steady

first_img Previous: Disasters and Defaults: A Retrospective Next: Court Allows Recovery of Attorney’s Fees Following Foreclosure Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. January 29, 2020 1,309 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Federal Open Market Committee (FOMC) will keep the federal funds rate at 1.5 to 1.75%, according to a statement following the latest Committee meeting. The Committee cited a strong labor market and moderately rising economic activity.“Markets anticipated the Fed’s stance in the wake of the bank’s December meeting. As investors anticipate rising risks in markets, demand for bonds is likely to remain solid, keeping mortgage rates on a sideways trajectory in the months ahead,” said realtor.com’s Senior Economist George Ratiu. “Rates are about 80 basis points below last year, offering first-time buyers favorable home financing. However, the number of homes available for sale have reached a two-year low, adding headwinds to the housing market.”While interest rates are low, following multiple decreases from the Fed in 2019, some homeowners and potential buyers would still like to see them fall further. Of the three most popular government actions among first-time homebuyers—lowering interest rates, providing tax credits, and easing lending standards—lower interest rates are the most popular option, Redfin reports, especially among buyers with annual incomes of less than $100,000. However, as Redfin notes, though these government actions would make homebuying more affordable in the short-term, they would not directly address the long-term shortage of affordable homes.The FOMC will be looking at global economic indicators when determining its next rate decision, as Ratiu notes.“Globally, central banks remain committed to accommodative stances in their monetary policies, with most European banks, as well as the Bank of Japan, at zero interest rates,” Ratiu continues. “The outlook for world economies remains clouded by slowing growth and increased geopolitical risk. A recent report indicated that increasingly synchronized global housing markets are expected to experience moderation in 2020, with price declines likely to impact economic output.”  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Federal Reserve Interest rates 2020-01-29 Seth Welborn Home / Daily Dose / Fed Keeps Interest Rates Steady Related Articles in Daily Dose, Featured, Government, Newscenter_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Federal Reserve Interest rates Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily About Author: Seth Welborn Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fed Keeps Interest Rates Steady Subscribelast_img read more

COVID-19 Worsening Impact of Wildfires

first_img September 30, 2020 986 Views  Print This Post Home / Daily Dose / COVID-19 Worsening Impact of Wildfires Tagged with: Disaster wildfire Previous: Is There a ‘Zombie Apocalypse’ Ahead for Vacant Properties? Next: How Mortgage Delinquencies Could Impact Property Taxes The Best Markets For Residential Property Investors 2 days ago Disaster wildfire 2020-09-30 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Phil Hall The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles in Daily Dose, Featured, News Sign up for DS News Daily Subscribecenter_img More than 2.5 million acres of California have burned this year, surpassing the state’s previous wildfire seasons for total acreage burned, according to a new data report from CoreLogic, which added that latest Climate Prediction Center forecast extending through November indicates drought conditions will likely persist across the state.CoreLogic observed that the August Complex Fire, which began as 38 separate fires ignited in mid-August by lightning strike within the Coast Range of Northern California, has burned through more than 746,000 acres and destroyed more than 25 structures, making it the largest fire in California history. California’s SCU Complex saw more than 396,000 acres and 224 structures destroyed during the past month while the LNU Complex saw the destruction of more than 375,000 acres and 1,030 structures. As a result, these became, respectively, the second and third largest fires in California history.Complicating matters has been the impact of the COVID-19 pandemic in fighting California’s wildfires. CoreLogic’s new data report found “COVID-19 quarantine measures have resulted in significant staff shortages for fire suppression management. Many fire academies this year were canceled, such as in Washington state where three of their canceled fire academies were meant to train 4,500 firefighters. Additionally, wildfire management sites, which are typically high in density with poor sanitary conditions, are making virus transmission more likely.”CoreLogic also noted that many firefighters have already been tested positive for COVID-19–San Jose’s fire department reported 10% of its workforce were exposed to the virus by early April.“Lower staffing could mean that many of these firefighters will have to work on fires for 40-45 days with no breaks,” CoreLogic noted. “The pandemic combined with drought conditions throughout the west is making this year an especially tough one for fire management.”California is not alone in facing record wildfires this year. CoreLogic stated that Colorado’s Pine Gulch Fire in August became the state’s largest fire with more than 139,000 acres burned, while the Cameron Peak Fire expanded to over 100,000 acres during the Labor Day weekend.CoreLogic added that during the last 15 years, 15 states accounted for 93% of all wildfire acreage per year and more than 98% of wildfire-related property losses, including nearly 2 million single-family residences and $638 billion in reconstruction value. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. COVID-19 Worsening Impact of Wildfires The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Should CFPB Reorganize ‘Just Weeks Before an Election’?

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Share Save Sign up for DS News Daily 2020-10-27 Christina Hughes Babb Should CFPB Reorganize ‘Just Weeks Before an Election’? The Week Ahead: Nearing the Forbearance Exit 2 days ago U.S. Sen. Sherrod Brown (D-Ohio), the ranking member of the Senate Committee on Banking, Housing, and Urban Affairs, has called on Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger to delay the proposed reorganization of the agency’s Division of Supervision, Enforcement, and Fair Lending (SEFL) until after the election while raising questions on whether she would continue as the agency’s chief in a new administration.In a letter to Kraninger, Brown suggested that Kraninger’s job was at risk if she pursued her plans, claiming that a “reorganization of this magnitude is inappropriate just weeks before an election that will determine whether you continue as Director past January 20, 2021.”Kraninger was confirmed as the CFPB Director in December 2018 and her job is a five-year term. However, the U.S. Supreme Court ruled earlier this year that the President has the ability to fire the CFPB director at will. With Kraninger having been appointed by President Trump, Brown’s comments could be read as an insinuation that her tenure could be reconsidered under a Joe Biden administration.Brown proposed that Kraninger “not move forward with the SEFL reorganization until it is clear” her job was secure. He also requested that she cede communications with his office on the subject to Brian Schneider, the CFPB’s Associate Director for the SEFL Division, and Thomas Ward, the Director of Enforcement.In his letter, Brown referred to an earlier call he had with Kraninger in which he shared “concerns that the SEFL reorganization will weaken the Bureau’s ability to hold financial institutions accountable for violating the law and obtain redress for harmed consumers.” He contradicted Kraninger’s alleged response that the reorganization would enable the agency’s Office of Enforcement (Enforcement) with additional technical resources and reporting capabilities, claiming that CFPB documentation did not support that claim.“According to the Bureau’s documents you provided me, the claimed objective of the SEFL reorganization is to allow for ‘centralization and streamlining’ and ‘establishment of a consistent and unified SEFL approach to policy and strategic planning,’” Brown wrote. “While these objectives may have merit, how they are achieved matters. Here, to the extent the reorganization achieves any desired consistency or efficiency, it is by cutting out Enforcement’s voice and role in critical SEFL decision making processes. It also introduces inefficiency and confusion by taking dedicated Enforcement resources, such as the E-Litigation team, and asking them to do non-Enforcement work and report to a new SEFL-wide office.”Kraninger has not yet publicly commented on Brown’s letter. Related Articles Previous: FHFA Strategy Focuses on Post-Conservatorship Years Next: Hubzu Launches Mobile App Home / Daily Dose / Should CFPB Reorganize ‘Just Weeks Before an Election’? Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Phil Hall The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 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. October 27, 2020 14,275 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

A Week of ‘Strong Forbearance Improvement’

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / A Week of ‘Strong Forbearance Improvement’  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago After declining by 5% last week, the number of mortgage loans actively in forbearance dropped again this past week, according to Black Knight, which calls the week of November 3-10 one of “strong forbearance improvement.””The decline was seen across investor classes and was largely due to the bulk of remaining October expirations being addressed over the past seven days, with some 191,000 homeowners removed from forbearance plans since last week,” Black Knight reported.Forbearance starts dipped to 68,000, the lowest weekly total since early October. New forbearance starts, excluding restarts, marked a pandemic-era low of 31,000, Black Knight reported. Another 98,000 households extended forbearance plans during the past week.”There have been positive signs so far in November, but with 323,000 active forbearances having recently expired or set to expire in the month, improvement may be somewhat limited in the coming weeks,” the researchers said, adding that, “as of November 10, there are 2.74 million homeowners in active forbearance plans, representing approximately 5.2% of all active mortgages, down from 5.4% from last week. Together, they represent $559 billion in unpaid principal.”Percentage of loans, by type, in forbearance plans this past week:3.5% of all GSE-backed loans9.1% of all FHA/VA loans5% of loans in private-label securities or banks’ portfoliosSince last week, portfolio/PLS loans saw the largest weekly decline at -49,000 (-7.1%), while GSE forbearances fell by 45,000 (-4.3%), and FHA/VA loans saw a more modest decline of -27,000 (-2.4%).Of the 2.74 million loans still in active forbearance, 81% have had their terms extended at some point since March, the report showed.The full report, methodology, and graphics can be read on the Black Knight blog. About Author: Christina Hughes Babb November 16, 2020 1,042 Views The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Black Knight Forbearance Weekly Report 2020-11-16 Christina Hughes Babb Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago 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. A Week of ‘Strong Forbearance Improvement’ Share Save Previous: Renters or Homeowners: Who Struggles More Financially During COVID-19? Next: Agents Embrace Effort to Expand Private Flood Insurance Tagged with: Black Knight Forbearance Weekly Report The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Loss Mitigation, Market Studies, News Related Articles Subscribelast_img read more

Forbearance Exodus Continues

first_img Demand Propels Home Prices Upward 2 days ago Previous: Activist Legal Names Chris Pummill President of Operations Next: Woman-Owned Consultancy Service Aims to be Trusted Advisor About Author: Eric C. Peck Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Subscribe in Daily Dose, Featured, Foreclosure, Journal, News ATTOM Data Solutions Fannie Mae Forbearance Freddie Mac Mike Fratantoni Mortgage Bankers Association (MBA) RealtyTrac 2021-05-17 Eric C. Peck Related Articles Tagged with: ATTOM Data Solutions Fannie Mae Forbearance Freddie Mac Mike Fratantoni Mortgage Bankers Association (MBA) RealtyTrac Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago 12 days ago 718 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Home / Daily Dose / Forbearance Exodus Continues Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago This week, the Mortgage Bankers Association (MBA) reports that the number of U.S. homeowners in forbearance programs dropped to 2.1 million, a share of 4.22% in servicers’ portfolio volume, down 14 basis points from last week’s share of 4.36%.”More homeowners exited forbearance in the first full week of May, leading to a 14-basis-point decrease in the forbearance share—the 11th straight week of declines. The rate of new requests dropped to four basis points, which is the lowest level since last March,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “Of those in forbearance extensions, more than half have been in forbearance for more than 12 months.”In terms of investor type, the share of Fannie Mae and Freddie Mac loans in forbearance decreased eight basis points, from 2.32% to 2.24%. Ginnie Mae loans in forbearance decreased 21 basis points, from 5.82% to 5.61%, while the forbearance share for portfolio loans and private-label securities (PLS) decreased by 29 basis points, from 8.55% to 8.26%. The percentage of loans in forbearance for independent mortgage bank (IMB) servicers decreased 16 basis points to 4.42%, and the percentage of loans in forbearance for depository servicers declined 12 basis points to 4.35%.By stage, 11.9% of total loans in forbearance are in the initial forbearance plan stage, while 83.0% are in a forbearance extension. The remaining 5.1% are forbearance re-entries.The recent ATTOM Data Solutions and RealtyTrac’s U.S. Foreclosure Market Report found that a total of 11,810 U.S. properties had foreclosure filings—default notices, scheduled auctions, or bank repossessions—which was down 1% month-over-month and down 17% year-over-year. The study also found that nationwide one in every 11,636 housing units had a foreclosure filing in April.Of the cumulative forbearance exits for the period from June 1, 2020, through May 9, 2021:27.1% resulted in a loan deferral/partial claim.24.9% represented borrowers who continued to make their monthly payments during their forbearance period.15% represented borrowers who did not make all of their monthly payments and exited forbearance without a loss mitigation plan in place yet.14.2% resulted in reinstatements, in which past-due amounts are paid back when exiting forbearance.9.8% resulted in a loan modification or trial loan modification.7.4% resulted in loans paid off through either a refinance or by selling the home.The remaining 1.6% resulted in repayment plans, short sales, deed-in-lieus or other reasons.”The opening of the economy, as the successful vaccination effort continues, should lead to further reductions in the forbearance share,” said Fratantoni. “However, many homeowners continue to struggle. Borrowers who are reaching the end of their forbearance term should reach out to their servicer to review their options.”Weekly servicer call center volume increased from the previous week from 7.8% to 8.0%, with the average call length time having decreased slightly from 8.1 minutes to 7.9 minutes. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Forbearance Exodus Continues  Print This Post Demand Propels Home Prices Upward 2 days ago 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 Sign up for DS News Daily last_img read more

Robert Howard loses bid to stop Arlene Inquest

first_img Three factors driving Donegal housing market – Robinson By News Highland – December 7, 2011 WhatsApp Pinterest Pinterest Facebook WhatsApp RELATED ARTICLESMORE FROM AUTHOR Facebook A High Court judge has criticised the delay to an inquest into the death of missing schoolgirl Arlene Arkinson.The 15-year-old from Castlederg disappeared after attending a disco in Bundoran in 1994.An inquest was ordered in 2007, but has yet to start.Mr Justice Treacy dismissed a legal bid to stop it by a convicted child-killer acquitted of murdering Arlene. He then urged the senior coroner to ensure no further delay.Robert Howard was acquitted of Arlene’s murder in 2005. His legal team said the inquest would be used to attempt to undermine that verdict.67-year-old Howard, who had lived near her home, was already serving life for raping and killing 14-year-old Hanna Williams from Deptford, south London.Today, the judge said that coroners who ensure they respect the rights of people such as Howard must be equally careful with those of the next of kin. Guidelines for reopening of hospitality sector published Google+center_img Help sought in search for missing 27 year old in Letterkenny Google+ Previous articleFire crews attending blaze in GweedoreNext articleDonegal County Council budget crisis averted News Highland Robert Howard loses bid to stop Arlene Inquest 448 new cases of Covid 19 reported today Twitter Twitter News Calls for maternity restrictions to be lifted at LUH NPHET ‘positive’ on easing restrictions – Donnelly last_img read more