Month: May 2021


first_img Share Save Homebuilders Housing Starts Leading Market Index National Association of Homebuilders 2014-11-07 Scott Morgan Sign up for DS News Daily Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Report: Housing Market Not Completely Back, But Getting Closer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Homebuilders Housing Starts Leading Market Index National Association of Homebuilders Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Servicers Navigate the Post-Pandemic World 2 days ago  Print This Postcenter_img November 7, 2014 1,135 Views Home / Daily Dose / Report: Housing Market Not Completely Back, But Getting Closer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News The National Association of Home Builders (NAHB) released its Q3 Leading Markets Index (LMI) report Thursday, and the verdict is: National housing recovery is getting there, slowly but surely.For months, NAHB has been reporting that recovery in the national and in most metro markets is inching its way back to normal levels. The latest report virtually mirrors the LMI report released in August, which stated that 56 of 350 metros were at or better than normal, and the national housing market overall was 89 percent of where it should be.Now, those numbers are 59 out of 350 and 90 percent nationwide. Year over year, this is an additional seven metros at or better than normal and an improvement in 66 percent of all markets compared to Q3 of 2013.The LMI looks at average permit, price, and employment data over a 12-month period, then divides each by their annual averages over the last period of normal growth. For single-family permits and home prices, 2003 is considered the last normal year; for employment, 2007.As it has this whole year, Baton Rouge, Louisiana, tops the list of major metros on the LMI. Baton Rouge, according to NAHB, is 39 percent better than its last normal market level a decade ago. Other major metros doing far better than what would be considered normal include Austin, Honolulu, Oklahoma City, Houston, Los Angeles, San Jose, Salt Lake City, New Orleans, and Charleston.Some smaller metros are doing even better. Midland and Odessa, Texas, for example, are twice as strong as they were before the recession. Grand Forks and Bismarck, North Dakota; and Casper, Wyoming, are also doing far better now than they were 10 years ago.For markets not all the way back, things are nevertheless up.”Nearly half of all the markets on the Leading Markets Index are up since August, which is a good sign that the ongoing housing recovery will keep moving forward in 2015,” said Kurt Pfotenhauer, vice chairman of First American Title Insurance Company, which co-sponsors the LMI report.According to NAHB chairman Kevin Kelly, markets are recovering at a slow, gradual pace, and continued job creation, economic growth and increasing consumer confidence “should help spur pent-up demand for housing.”Where there is room for improvement is in the area of permits for new construction.”An uptick in the number of single-family permits, which is currently only 44 percent of normal activity, is the key to a full-fledged housing recovery,” said David Crowe, NAHB’s chief economist. “In the 17 metros where permits are at or above normal, the overall index shows that these markets have fully recovered.” The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Republicans Expected to Use New Majority Power to Push for CFPB Reform Next: DS News Webcast: Monday 11/9/2014 Servicers Navigate the Post-Pandemic World 2 days ago About Author: Scott Morgan Subscribelast_img read more


first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Did Obama Overestimate Progress of Housing Market Recovery? The Best Markets For Residential Property Investors 2 days ago Subscribe Share Save Home / Daily Dose / Did Obama Overestimate Progress of Housing Market Recovery? Previous: California Lawmaker Assigned to Two Housing Committees Next: Real Estate, Finance Industry Vet Joins Jordan Capital Finance as SVP of Business Development 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. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago One of the main points in President Barack Obama’s speech about housing in Phoenix on Thursday was how far the housing industry has come since the bust of 2008 and particularly since he took office in January 2009.The president reported in his speech that the housing market has not come all the way back yet and there is still work to be done. But according to one analyst, the president may have overestimated how far the housing market has come back and the administration’s role in the recovery.”We have come back off the bottom of one of the worst housing busts in the country’s history,” said Rick Sharga, EVP at Auction.com, the largest online real estate market in the U.S. “But we’re still closer to the bottom than we are to the peak of the market during the housing boom. Prices have recovered, but are back to 2004 levels, meaning that we’ve still essentially lost a decade of equity. So there’s still quite a bit of room for expansion, and most people (myself included) are predicting that 2015 will be flat compared to 2014, and that 2016 may not be much better. So the market has gotten better, but it’s hardly robust.”Sharga said that the progress the housing market has made so far was mainly brought about by several factors.”And it’s important to note that this ‘recovery’ was facilitated by unprecedented action by the Federal Reserve; several years of historically low interest rates; and government-backed lending that accounts for about 96 percent of all loans being issued,” he said. “In a lot of ways, housing is still on life support; in stable, rather than critical condition, but hardly ready to fend for itself.”The president was in Phoenix to officially announce the lowering of Federal Housing Administration (FHA) mortgage insurance premium rates by 50 basis points down to 0.85 percent in order to allow more first-time homebuyers to enter the market. The lowering of MIPs by the FHA has been widely praised by government officials and housing executives alike. While Sharga said he believes that lowering the insurance premiums will result in only a “miniscule” risk to taxpayers due to the profitability of FHA, he said the impact it will have on home sales will be minimal if the administration’s estimates come to pass.”The administration estimates that 250,000 people may be able to buy a home due to the reduction over the next three years,” he said. “If they’re correct – and frankly, this administration has always overestimated the impact of its mortgage and housing-related policies – those extra homebuyers will add approximately 1.6 percent more home sales than what’s already being projected. More likely, we’ll see the FHA’s share of loan volume go up a little bit, as their offerings will now be competitive versus conventional loans, especially for sub-729 FICO score borrowers.”During his speech on Thursday, the president encouraged the audience not to buy things they could not afford, saying the new lower FHA insurance premium rates are for “responsible borrowers.””Overall, I thought the President made some good points (Thursday). I was pleasantly surprised to hear him urge people to not buy a home that they couldn’t afford,” Sharga said. “Most of the rhetoric coming out of Washington over the past few years – and from this administration in particular – have painted borrowers as helpless victims and lenders as evil predators. It was refreshing to hear a clear message encouraging people to take personal responsibility for their personal finances.”Sharga was skeptical that the Obama Administration’s Home Affordable Modification Program has had the effect on housing recovery that the administration is touting, however.”HAMP was intended to save 4 to 5 million borrowers from foreclosure,” Sharga said. “The last time I checked, there were about 750,000 modified loans in the HAMP program, and there are lingering concerns that many of them may re-default when their rates begin to reset this year. I believe that the HAMP program did have a role in pushing servicers toward better-designed loan modification programs, but to give HAMP credit for all the proprietary loan modifications made by servicers and lenders seems somewhat disingenuous, or at least too optimistic.”While the Obama Administration created the Consumer Financial Protection Bureau (CFPB) as part of the Dodd-Frank Wall Street Reform Act, the impact of the Bureau on lenders and housing as a whole may not be all positive, Sharga said.”And the CFPB, with its QM and ATR rules, along with some of the regulatory uncertainty the administration has fostered with its record financial penalties to lenders, has essentially caused lending to all but the most qualified borrowers to seize up,” he said. “This might be one way to define ‘stability,’ but it’s not doing much for the housing market, or for the broader economy.” Tagged with: Housing Market Housing Recovery President Barack Obama Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily January 11, 2015 1,236 Views About Author: Brian Honea Housing Market Housing Recovery President Barack Obama 2015-01-11 Brian Honealast_img read more


first_img  Print This Post Allan Landon Federal Reserve Board of Governors Federal Reserve System 2015-01-07 Brian Honea President Nominates Former Bank Of Hawaii CEO for Fed Governor Position The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Home / Daily Dose / President Nominates Former Bank Of Hawaii CEO for Fed Governor Position About Author: Brian Honea President Barack Obama has announced his intention to nominate former Bank of Hawaii CEO Allan Landon to fill one of two available governor positions for the Federal Reserve System on its seven-seat board of governors, according to an announcement from the White House.Landon, 66, is currently a partner in Oregon-based community bank investment firm Community BanCapital. He served as chairman and CEO of the Bank of Hawaii from 2004 to 2010 and served in several other executive positions with the bank from 2000 until his appointment as CEO, including president, chief operating officer, chief financial officer, and risk officer.From 1998 to 2000, Landon served as CFO for First American Corp. and its subsidiary, First American National Bank. The majority of Landon’s professional career has been spent at Ernst & Young, where he worked from 1970 to 1998, becoming a partner in 1984. Landon received a bachelor’s degree from Iowa State University.”Allan Landon has the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy,” Obama said in a prepared statement  “He brings decades of leadership and expertise from various roles, particularly as a community banker.  I’m confident that he will serve our country well.”The Fed has not had had a community banker serve on its board of governors since Elizabeth Duke retired in August 2013.Landon’s nomination must be confirmed by the Senate, which may present an obstacle now that Republicans have a majority. Senator Richard Shelby (R-Alabama), who is expected to become chairman of the Senate Banking Committee (which must approve the nomination), opposed Obama’s nomination of economist Peter Diamond as Fed governor in 2010.Landon previously served on the board for the Seattle Federal Home Loan Bank. He and Washington Federal Savings CEO Roy Whitehead, who also served on that board, were removed from their positions on the board in May 2005 due to the improper sale of a combined $73 million worth of their banks’ stock. The board did not find any wrongdoing on Landon’s or Whitehead’s part, but the board’s independent review committee found that an “an appearance of impropriety” was created when the Bank of Hawaii and Washington Federal redeemed $25 million and $48 million, respectively, worth of Seattle FHLBank stock in 2004. Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articlescenter_img in Daily Dose, Featured, Government, News 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. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Allan Landon Federal Reserve Board of Governors Federal Reserve System The Best Markets For Residential Property Investors 2 days ago January 7, 2015 1,000 Views Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Updated: President Announces Reduction in FHA Premiums Next: Survey: Doubts About Housing Persist Despite Growing Economic Confidence Subscribelast_img read more


first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: DS News Webcast: Friday 8/28/2015 Next: Counsel’s Corner: Does the CFPB Really Understand Non-Judicial Foreclosures? Servicers Navigate the Post-Pandemic World 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Tagged with: Freddie Mac HAMP Home Affordable Modification Program Loan Modifications Loss Mitigation The Best Markets For Residential Property Investors 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Loss Mitigation, News Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / HAMP Borrowers Facing Higher Payments May Be Able to Turn to Freddie Mac For homeowners who received a modification through the government’s Home Affordable Modification Program (HAMP) and are facing higher monthly payments due to a reset, Freddie Mac is offering assistance, according to a post on Freddie Mac’s blog on Thursday.Borrowers who can’t afford their monthly payments due to the increase or for those who have fallen behind and are at risk of re-defaulting may be eligible to have their loans re-modified under Freddie Mac’s guidelines. Those borrowers should contact their servicers to find out what options are available, according to Freddie Mac.The Department of Treasury launched HAMP in February 2009 during the worst period of the housing crisis as a way for homeowners facing foreclosure to stay in their homes and lower their monthly mortgage payments. Those borrowers who received HAMP modifications in 2009 and 2010 are now facing higher interest rates after resetting due to the expiration of their five-year modification. Under the terms of HAMP, the interest rates gradually increase at a rate of 1 percentage point per year until it reaches the market rate that was in effect at the time of the modification.Mark McArdle, Chief of the Homeownership Preservation Office in the Office of Financial Stability at Treasury, said the median increase for the first step-up after the five-year HAMP mod expires is about $95 per month nationwide, varying sometimes greatly from state to state. The median increase for the second step-up could be as much as $200, he said, although more than 90 percent of HAMP borrowers will still have an interest rate below 5 percent after three step-ups and therefore still have a lower monthly payment than they had before they received the HAMP mod.According to Treasury’s Making Home Affordable Program Performance Report for Q1 2015, approximately 2.3 million homeowners had started HAMP trial modifications in the six-year existence of the program. About 1.48 million of those homeowners received permanent HAMP modifications, and as of the end of Q1 2015, about 974,000 of those modifications were still active in HAMP.HAMP began in 2009 and was originally set to expire at the end of 2012 but has been extended twice and is now set to expire at the end of 2016. 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago August 27, 2015 1,314 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea Freddie Mac HAMP Home Affordable Modification Program Loan Modifications Loss Mitigation 2015-08-27 Brian Honea HAMP Borrowers Facing Higher Payments May Be Able to Turn to Freddie Mac Subscribelast_img read more


first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe A blog post from the Urban Institute published on Tuesday went in depth into the over $3 trillion in untapped home equity by seniors. Homeowner age 65 and older are unwilling to tap into the wealth of equity from their homes, due to various financial concerns. The data from Urban Institute is backed by Fannie Mae’s National Housing Survey, which found that 37 percent of senior homeowners feel concerned for their finances in retirement, and only 6 percent of seniors are interested into tapping into their home equity to address these concerns.Equity may be accessed through downsizing, forward or reverse mortgage products, or even indirectly by underspending on maintenance, yet seniors are unlikely to use mortgage products as a method of equity access. Out of the four primary mortgage channels for equity extraction—home equity lines of credit (HELOC), closed-end seconds, cash-out refinance loans, or Home Equity Conversion Mortgages—no channel had an origination rate greater than 4 percent, and only one, HELOCS, had a rate exceeding 1 percent.The low rate of equity access through mortgage products among seniors may be due to a desire to stay out of debt, or the increased number of seniors who stay in the workforce into old age. Additionally, poor financial literacy and complexity as well as the high costs of some mortgage products may steer seniors away from such products. These factors combined have led to a large, untapped amount of wealth.Experts Karan Kaul, Research Associate at The Urban Institute, Laurie Goodman, Codirector of the Urban Institute, and Patrick Simmons, Director at Economic and Strategic Research, list a few ideas in the blog post to help open access to home equity for seniors: improve reverse mortgage financial literacy, reduce the cost of reverse mortgages, improve access to credit, and explore new products and alternative approaches for equity extraction.The complete report by Karan Kaul and Laurie Goodman can be found here on Urban.org, and the blog post can be found here. The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Seniors Are Sitting on Trillions of Dollars Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Home Equity mortgage 2017-02-28 Staff Writer Previous: Interest Rates Continue Trend Next: What are the Top and Bottom CBSAs? Home / Daily Dose / Seniors Are Sitting on Trillions of Dollars  Print This Post The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Tagged with: Fannie Mae Home Equity mortgage About Author: Staff Writer February 28, 2017 1,516 Views last_img read more


first_img Is Rise in Forbearance Volume Cause for Concern? 2 days ago Previous: Morgan Stanley Questions Early Rate-hike Signals Next: Simplifile Partners with Ellie Mae  Print This Post Sign up for DS News Daily Ben Carson DS News HUD 2017-03-06 Staff Writer Related Articles Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago in Featured, Government The Best Markets For Residential Property Investors 2 days ago About Author: Staff Writer The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Featured / Ben Carson Makes First Address as HUD Secretary Demand Propels Home Prices Upward 2 days ago March 6, 2017 3,441 Views Ben Carson Makes First Address as HUD Secretary U.S. Department of Housing and Urban Development Secretary, Dr. Ben Carson addressed the HUD’s employees for the first time publicly on Monday.Carson’s speech was more motivational, and he opted not to speak on housing as much.  He started off the address by reflecting on some of his encounters as a surgeon and his vision for America moving forward. He spoke about how Americans need to work together to reach their full potential of prosperity.“This is America. This used to be known as the can-do society, not the what-can-you-do-for-me society,” he said. “And there is a lot that we can do if we are simply willing to reach outside of ourselves and recognize that each person, all our fellow Americans, we are one.”At one point during Carson’s speech come up with an acronym “THINK BIG.” “T is for talent, which God gave to every person,” he began, assigning word phrases H for honest, I for Insight, N for Nice, K for Knowledge, B for Book, I for Indepth Learning, and G for God. Carson then asked those in attendance to raise their hands to “take the niceness pledge.”“Just raise your hand, everybody raise your hand,” he said, as the staff obeyed. “Now what did you just pledge to do? Be nice to every single person you encounter for one week, including your spouse!”An audience member asked Dr. Carson: “ What are your plans for the division of housing and equal opportunity overall, and how do you plan on furthering civil rights while you are here at HUD?”Dr. Carson’s answer was not direct, though he used the opportunity to address inequality and fairness for all.“I am going to do be doing what you are and that is watching to see what people are doing and more importantly listen to what people have to say,” Dr. Carson said. “There’s always a lot of different perspectives and one of the things that I have found is when you have divergent perspectives, if you can get those people to sit down and talk to each other, they will frequently be able to come up with extremely good solutions,” he said. “I believe in always giving the first pass to the people who are actually involved as opposed to imposing upon them from above.”“One of the things you will notice in this department under my leadership is that there will be a very big emphasis on fairness for everybody,” Carson told the staff. “Everything that we do, every policy; no favorites for anybody, no extra for anybody, but complete fairness for everybody. Because that is what the founders of this nation had in mind, and if you read the Constitution, it becomes very clear that that was the goal.”He would later briefly talk about find alternative ways to work with the private sector to find solutions homelessness and affordable housing availability.“We don’t necessarily have to always depend on the government and government financing,” he said when asked about such partnerships by a staffer during the question-and-answer session. “There’s a lot more money outside of government than there is inside of government, although there’s some people who would like to change that, but anyway, I won’t get into that.”At the end of the town hall meeting, one staffer stood up and thanked Carson for his speech, telling him that her and follow employees had been afraid about how the Trump administration would select HUD programs. She said his speech had reassured her that he is invested in HUD’s mission. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Ben Carson DS News HUDlast_img read more


first_img Real estate professionals are spending an increasing amount of time conducting business on their smartphones, according to a new report from the National Association of Realtors (NAR). About one-third of real estate professionals spend more than seven hours per workday on their smartphone or tablet, up from 18 percent a year ago, according to the 2018 Realtor Mobile Usage Report from NAR. About half of that third estimate they spend more than nine hours per day on their devices. Also, 35.7 percent of real estate professionals use their mobile devices between four and six hours per workday. Fewer than five percent of real estate professionals say they use their smart devices less than one hour per day, and less than half a percent do not use a mobile device at all. It’s not surprising then that an overwhelming majority—85.3 percent—of real estate professionals consider their mobile devices “very important” in their daily work and another 10.6 percent consider them “important.” Tablets are popular but not universal among real estate professionals. About 34.8 percent of survey respondents said they do not use a tablet at all.Apple devices are favored among real estate professionals with 70.4 percent saying they use an iPhone for their business. About 28.9 percent use an Android. When it comes to tablets, however, it’s just about Apple or nothing. While a little over a third of respondents said they do not use a tablet, 48.7 percent said they use an Apple tablet. Fewer than five percent of respondents said they use a Google or Microsoft tablet. The task real estate professionals complete most often on their mobile devices is, naturally, client communications. About 93.6 percent of survey respondents said they use their mobile devices for client communications. Other common uses for mobile devices were housing research, cited among 70.7 percent of respondents; social media (70.7 percent); arranging home showings (62 percent); accessing contact management systems (60 percent); and making financial calculations (56 percent). Half of the respondents said they use their devices to track mileage and business expenses, and nearly half rely on their mobile device’s camera. NAR also questioned respondents about their favorite mobile apps. Professionals most often cited RPR, Homesnap, Zillow, ShowingTime, Realtor.com, and area MLS apps. Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Journal, Market Studies, News, Technology How Real Estate Pros Are Embracing Mobile Devices Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Share Save Tagged with: real estate Real Estate Agents Realtors smartphones tablets Home / Daily Dose / How Real Estate Pros Are Embracing Mobile Devices The Best Markets For Residential Property Investors 2 days ago Related Articles real estate Real Estate Agents Realtors smartphones tablets 2018-06-20 Krista Franks Brock Subscribe About Author: Krista Franks Brock Previous: Three-Decade Study Finds Young Households in a Bad Place Next: The Housing Market: Six Months After Tax Cuts The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago June 20, 2018 3,484 Views last_img read more


first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Applicability of Contempt Sanctions in Bankruptcy Next: Addressing Race in Home Inventory and Rental Policies January 20, 2020 972 Views Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Ties Between ‘Global Uncertainty’ and Housing Trends The Ties Between ‘Global Uncertainty’ and Housing Trends The Best Markets For Residential Property Investors 2 days ago  Print This Post 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save About Author: Mike Albanese housing market 2020 trade wars treasury yields 2020-01-20 Mike Albanesecenter_img Sign up for DS News Daily fcd1aa2d-5b26-4754-ab6b-8342360620f8Analysis from First American Financial Corporation says global uncertainty—such as the conflict between the U.S. and Iran—impacts not only geopolitical relations but also the U.S. housing market. “When global investors sense increased uncertainty, there is a ‘flight to safety’ in U.S. Treasury bonds, which causes their price to go up, and their yield to go down—U.S. homebuyers benefit from this dynamic,” said Mark Fleming, Chief Economist at First American. Fleming said the 30-year fixed-rate mortgage follows the 10-year Treasury bond. Since the end of the recession, the 30-year fixed-rate mortgage remained 1.7 percentage points higher than the 10-year Treasury yield. He added that if this trend continues, and the 10-year Treasury yield dips to 1.5% due to uncertainty and a global “flight to safety,” then the 30-year fixed-rate mortgage could fall as low as 3.2%. “The 30-year, fixed-rate mortgage fell to its lowest level in a month in response to the decline in the 10-year treasury yield on the morning after the U.S. airstrike in Iran,” Fleming said. First American reported that the second-largest shift in the 30-year fixed-rate mortgage since the end of the Great Recession occurred following the 2016 Presidential election. Mortgage rates increased to 3.94% from 3.57% the week after the election. A few months earlier, the U.S. Treasury bond yield declined by 0.29 percentage points and mortgage rates fell 0.29 percentage points in the weeks that followed the “Brexit” vote in June 2016. “More recently, the decline in mortgage rates since the beginning of 2019 has been partly due to uncertainty around the outcome of U.S.-China trade relations, including the largest single-week decline in the mortgage rate (0.22 percentage points) since the end of the Great Recession in March 2019,” Fleming said. First American’s Real House Price Index from October 2018 found that the 10-year Treasury yield was 1.7% and the 30-year fixed-rate mortgage was 3.7%. With an average national household income of nearly $66,400, consumer house-buying power, the combination of one’s income, and the prevailing mortgage rate was $418,000.Fleming said that even a small change in the 10-year Treasury yield—even a small drop of 1.6%—would bring a mortgage rate of 3.3%. “Assuming no change in household income, that would mean a house-buying power gain of $21,000, a five percent increase. Amid uncertainty, the house-buying power of U.S. consumers can benefit significantly,” he said. Related Articles in Daily Dose, Featured, Market Studies, News Tagged with: housing market 2020 trade wars treasury yields Demand Propels Home Prices Upward 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 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 ago Subscribelast_img read more


first_imgHome / Daily Dose / Maxine Waters Responds to Wells Fargo Request The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago March 31, 2020 2,063 Views Financial services Wells Fargo 2020-03-31 Seth Welborn Share Save 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 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Maxine Waters Responds to Wells Fargo Request Previous: Activists Push for Further Eviction Moratoriums Next: CARES Act Could Help People Stay in Their Homes Following reports that Wells Fargo & Company has requested that the Federal Reserve remove an asset cap imposed in response to widespread consumer abuses and compliance breakdowns, Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee, wrote a letter to Jerome H. Powell, Chairman of the Board of Governors of the Federal Reserve System, requesting additional information.Waters responded to a Financial Times article which reported that Wells Fargo & Company “made a pitch to the Federal Reserve to remove an asset cap introduced in the wake of its fake accounts scandal, saying it would allow the US bank to extend support to businesses and customers hit by the economic fallout of the coronavirus pandemic.”“As you know, pursuant to its February 2018 consent order, the Federal Reserve restricted Wells Fargo’s growth until the firm develops and implements—and a third party independently evaluates—the governance and internal control improvements specified in the order,” the Chairwoman wrote. “The U.S. House Committee on Financial Services’ (“Committee”) ongoing oversight activities have revealed that Wells Fargo has yet to fully satisfy the requirements of the Federal Reserve’s February 2018 consent order. Pursuant to its legislative and oversight authority under House Rule X, 116th Congress, the Committee must know more about whether Wells Fargo requested that the Federal Reserve remove the asset cap and, if so, the Federal Reserve’s consideration of any such request.”Earlier this year, Waters called Wells Fargo a “lawless organization” that has caused harm to millions of consumers during.Wells Fargo CEO Charlie Scharf testified before the committee during the hearing titled “Holding Wells Fargo Accountable: CEO Perspectives on Next Steps for the Bank that Broke America’s Trust.”The Securities and Exchange Commission (SEC) announced in February that the bank will pay a $3 billion settlement over its account scandal dating back to 2016. Wells Fargo’s penalties include a $500 million fine to the SEC.According to the SEC’s order, between 2012 and 2016, Wells Fargo publicly touted to investors the success of its Community Bank’s “cross-sell” strategy, which it characterized as a key component of its financial success. According to the order, from 2002 to 2016, Wells Fargo opened millions of accounts of financial products that were unauthorized or fraudulent.Fellow committee member Patrick McHenry, however, noted that his colleagues on the other side of the aisle “made up their minds about Wells Fargo long ago.”He said that before the committee received any evidence in 2016, Waters said she had come to the conclusion that “Wells Fargo should be broken up. It’s too big to manage.”McHenry said that after reviewing nearly half a million documents and countless testimony, that breaking up the bank is not the answer.“Wells Fargo isn’t too big to manage. The findings of this document show it was grossly mismanaged,” he said. Tagged with: Financial services Wells Fargo Subscribelast_img read more


first_imgHome / Daily Dose / No Lump Sum Following Forbearance Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 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. April 27, 2020 23,427 Views To combat ongoing misinformation, the Federal Housing Finance Agency (FHFA) reiterated that borrowers in forbearance with a Fannie Mae or Freddie Mac-backed mortgage are not required to repay the missed payments in one lump sum.According to the McDash Flash Forbearance Tracker from Black Knight, as of April 23, 2020, more than 3.4 million homeowners, or 6.4% of all mortgages, have entered into COVID-19 mortgage forbearance plans.“During this national health emergency, no one should be worried about losing their home,” said Director Mark Calabria. “No lump sum is required at the end of a borrower’s forbearance plan for Enterprise-backed mortgages. To help homeowners navigate the forbearance process, FHFA partnered with CFPB on the Borrower Protection Program to provide homeowners accurate information about forbearance and address concerns noted in some consumer complaints. While today’s statement only covers Fannie Mae and Freddie Mac mortgages, I encourage all mortgage lenders to adopt a similar approach.”In response to the COVID-19 national emergency, the GSEs permitted borrowers with financial hardship due to the pandemic a forbearance option, which is a pause or reduction in their monthly mortgage. The missed payments will have to be paid back by the borrower. For those borrowers who opt for forbearance, their mortgage servicer will contact them about 30-days before the end of the forbearance plan to see if the temporary hardship has been resolved and discuss a variety of repayment options. If the hardship has not been resolved, the forbearance plan can be extended. If the hardship has been resolved, the servicer will work with the borrower to:Set up a repayment plan;Modify the loan so the borrower’s payments are added to the end of the mortgage; orSet up a modification that reduces the borrower’s monthly mortgage payment.According to Black Knight CEO Anthony Jabbour, the recent FHFA announcement of a four-month limit on advance obligations for servicers of mortgages backed by Fannie Mae and Freddie Mac provides the industry with some much-needed clarity.“Having a four-month end date on the period in which servicers need to advance principal and interest payments on behalf of homeowners in forbearance is extremely helpful to our servicing clients,” said Jabbour. “Still, even knowing that time limit, with today’s number of forbearance plans, servicers are still looking at more than $7 billion dollars in advances over those four months. And the forbearance numbers are climbing steadily, day by day. Clearly, this remains a challenging situation all around.” The Best Markets For Residential Property Investors 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 in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Related Articles  Print This Postcenter_img Previous: The Week Ahead: Richard Cordray to Discuss Time at CFPB Next: Impact of COVID-19 on Minority Homeowners Fannie Mae Forbearance Freddie Mac 2020-04-27 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago No Lump Sum Following Forbearance 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 Tagged with: Fannie Mae Forbearance Freddie Mac Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Sign up for DS News Daily Subscribelast_img read more

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