Vacancy Rates Among SFR Transactions Are Trending Higher

first_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Vacancy Rates Among SFR Transactions Are Trending Higher Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Vacancy rates among single-family rental securitizations are trending higher, according to data reported by Morningstar Credit Ratings in its July 2015 Single-Family Research: Performance Summary Covering All Morningstar Rated Securitizations released Wednesday.Morningstar had anticipated higher-trending vacancy rates in June based on a higher number of lease expirations in recent months; the company cited as an example a correspondence between a slight increase in five Invitation Homes transactions and higher levels of lease expirations during the summer months. The retention rate for month-to-month leases dropped in 15 of 17 transactions in June, and there was also a slight drop in the retention rate of scheduled lease expirations. Notable declines in retention rates for scheduled lease expirations from May to June occurred in two Colony American Homes Transactions, CAH 2014-1 (which dropped from 81.7 percent to 68.2 percent) and CAH 2014-2 (which dropped from 81.2 percent to 69.9 percent).Even with the higher-trending vacancy rates, monthly retention rates stayed within Morningstar’s expectations, in the mid-70s to low-80s range. Still, the report said, “Vacancy rates generally remain low, though they may continue to migrate higher as more leases expire. Cash flows remain sufficient to cover bond obligations, and in general the asset class performance is in line with recent history.”The transaction with the highest concentration of month-to-month (MTM) leases in June was the recently-closed TAH (Tricon American Homes) 2015-SFR1 with 17.2 percent. Other deals with higher-than-average shares of MTM leases were ARP 2014-SFR1 (11 percent) and SBY (Silver Bay Realty) 2014-1 (8.1 percent), both of which increased slightly from May. Morningstar reported that single-family rental securitizations typically report MTM concentrations below 5 percent.According to Morningstar, though delinquency rates generally remained low, the rate on the ARP 2014-SFR1 (American Residential Properties) securitization climbed from 2.5 percent in May up to 3 percent in June and it retained the highest delinquency rate among all transactions.Click here to see the complete Single-Family Rental Research: Performance Summary Covering All Morningstar-Rated Securitizations for July 2015. Tagged with: Morningstar Credit Ratings Single-Family Rental Market Morningstar Credit Ratings Single-Family Rental Market 2015-07-29 Brian Honea Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 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. center_img Previous: Fed Determines More Labor Market Growth Is Needed In Order to Raise Rates Next: House Committee Passes 14 Bills, Including Regulatory Relief and Fed Reform Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Vacancy Rates Among SFR Transactions Are Trending Higher The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea July 29, 2015 1,266 Views last_img read more

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CUNA: CPPB has ‘Overstepped the Boundaries’ With Expanded HMDA Rule

first_imgSign up for DS News Daily  Print This Post Previous: New Reports Conclude Dodd-Frank Has Adversely Affected Main Street Next: JPMorgan Chase Close to Fulfilling RMBS Settlement Obligation “Since the data cannot establish discrimination, the CFPB has clearly overstepped the boundaries of what is necessary for it to accomplish its oversight function and protect the public.”CUNA January 11, 2016 1,403 Views Servicers Navigate the Post-Pandemic World 2 days ago “While Congress did authorize the CFPB to collect ‘such other information as the Bureau may require,’ it is unlikely this grant is an unbridled delegation to the CFPB to more than double the amount of express data points that Congress had indicated for the Bureau to collect,” the letter stated. “To go beyond the list is essentially ignoring what Congress chose to allow for expressly. Although Congress did provide for the CFPB to collect other information, the CFPB went far beyond the Dodd-Frank specifically itemized data points and now requires a staggering 48 data fields to be collected by a covered financial institution.”Dodd-Frank requires the CFPB to work with other banking regulatory agencies to determine which data points collected under HMDA will be made public. CUNA said in the letter the organization is concerned because the CFPB has not disclosed which HMDA data will be made public.“In the HMDA rulemaking, the CFPB fell well short of this mandate and only adopted a ‘balancing test’ to balance the importance of releasing the data to accomplish HMDA’s public disclosure purposes against the potential harm to an applicant or borrower’s privacy interest that may result from the release of the data without modification,” the letter stated. “While the balancing test may be useful by the agency as a step in determining what should be made public, it does not inform the industry of what data points will actually be made public or in what format the data will be public.” Data Provider Black Knight to Acquire Top of Mind 2 days ago CFPB Consumer Financial Protection Bureau Credit Union National Association CUNA HMDA Home Mortgage Disclosure Act 2016-01-11 Brian Honea Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Home / Daily Dose / CUNA: CPPB has ‘Overstepped the Boundaries’ With Expanded HMDA Rule CUNA: CPPB has ‘Overstepped the Boundaries’ With Expanded HMDA Rule Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Credit Union National Association (CUNA) has expressed its displeasure with the Consumer Financial Protection Bureau (CFPB)’s expanded data point request under the Home Mortgage Disclosure Act (HMDA) in a letter to the White House Office of Management and Budget (OMB).Responding to last week’s public request from the CFPB for comment on the resubmission of mortgage lending data reported under HMDA, CUNA was highly critical of the Bureau in the letter, saying that the CFPB “overstepped the boundaries” and was “ignoring what Congress chose to allow for expressly” by requiring covered financial institutions to report what CUNA called a “staggering 48 data fields” instead of the 17 established by Dodd-Frank. CUNA also stated that the Bureau “fell well short” of certain Dodd-Frank mandates with regards to collecting HMDA data.The CFPB did not immediately respond to a request for comment on the letter.HMDA was enacted in 1975 and require lenders to report information about their home loan applications or originations. The public and regulators take this information and use it to monitor whether financial institutions are serving the housing needs of their communities, to assist in distributing public-sector investment so as to attract private investment to areas where it is needed, and to identify possible discriminatory lending patterns.The CFPB stated that the recent finalization of the rule in October 2015 was done “to improve information reported about the residential mortgage market” and added more data points for financial institutions.CUNA contended in the letter to the OMB that HMDA data, both under the old regime and the new regime, cannot establish discrimination because it contains only “outcome data” and does not contain any information on how those outcomes were determined. For example, HMDA data does not contain an applicant’s credit or employment history or assets, nor does it contain other pricing elements such as market factors or supply and demand. CUNA did note in the letter that the HMDA data may indicate certain trends that warrant investigation by regulatory agencies.The letter noted that on credit unions specifically, HMDA data does not contain the individual field of membership restrictions that can affect lending decisions.“It is precisely these limitations on the data which illuminate why the data collection is thus overbroad and not reasonably tailored to allowing the CFPB to accomplish its oversight function,” the letter stated. “Since the data cannot establish discrimination, the CFPB has clearly overstepped the boundaries of what is necessary for it to accomplish its oversight function and protect the public.”CUNA further states that the CFPB is authorized by the Dodd-Frank Act to collect only 17 data points as part of HMDA, but under the new rule is now collecting 48 data points.center_img The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Share Save Tagged with: CFPB Consumer Financial Protection Bureau Credit Union National Association CUNA HMDA Home Mortgage Disclosure Act Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Related Articles Subscribelast_img read more

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What Effect Do Foreclosures Have on the Nation’s Existing-Home Supply?

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Home / Daily Dose / What Effect Do Foreclosures Have on the Nation’s Existing-Home Supply? Subscribe Demand Propels Home Prices Upward 2 days ago For the last five to six years, the number of foreclosures has been steadily declining since hitting a peak. December 2015’s total of 32,000 completed foreclosures represented a decline of nearly 73 percent from their monthly peak of 118,000 reached in September 2010, according to the latest data from CoreLogic.The elevated foreclosure numbers in the last few years have been supporting existing-home inventory for the last few years. Now that foreclosures are returning to more “normal” levels (pre-crisis), that support for existing-home sales is dwindling. Instead of thinking of the foreclosure decline as a contributing factor to the drop in existing-home sales inventory, however, it is more accurate to say that existing-home inventory levels in the years immediately following the crisis were boosted by unusually high foreclosure levels, according to a recent U.S. Housing Market Update by Capital Economics (CE).CE Chief Economist Matthew Pointon said in the study that although shrinking foreclosure activity in recent years has meant a drop in existing-home inventory for sale, foreclosures were not a sustainable way to boost existing-home inventory, anyway.“A rise in the number of existing homeowners moving home or selling vacant properties is required to provide a sustainable improvement in housing market liquidity,” Pointon said.Data shows that between 1990 and 2005, foreclosures accounted for less than 10 percent of the flow of existing homes on the market. When the financial crisis occurred in 2008, foreclosures surged, and as a result, foreclosed homes as a percentage of existing-home inventory reached a peak of 80 percent in early 2011. Since then, it has returned to between 15 and 17 percent, Pointon said.“A rise in the number of existing homeowners moving home or selling vacant properties is required to provide a sustainable improvement in housing market liquidity.”Matthew Pointon, Capital Economics Chief EconomistHowever, data shows that along with a decline in the number of foreclosures, the share of delinquent borrowers (30 days or more late on their mortgage payments) has also declined, recently hitting a 10-year low. The decline in delinquent borrowers may have more to do with the current low inventory numbers than declining foreclosures do, according to Pointon. In a hypothetical scenario that assumes the number of foreclosure starts remained closed to their peak levels from 2009 and 2010, existing homes for sale would have returned to slightly less than two million per quarter—their pre-crisis level.“Given that, it is tempting to ascribe the current low numbers of homes for sale to the drop in mortgages experiencing payment difficulties,” Pointon said.Unfortunately for the housing market, existing-home inventory may remain at low levels for the foreseeable future.“While the drop in foreclosures to normal levels has not helped matters, low numbers of existing homes for sale are due to a reluctance on behalf of current owners to sell-up or move,” Pointon said. “With no sign of that changing anytime soon, market conditions are set to remain tight.” Capital Economics Existing-home Inventory Foreclosures 2016-02-25 Brian Honea Share Save February 25, 2016 1,230 Views The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Foreclosure, News 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.  Print This Postcenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago What Effect Do Foreclosures Have on the Nation’s Existing-Home Supply? Data Provider Black Knight to Acquire Top of Mind 2 days ago 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 Sign up for DS News Daily Previous: Non-Profit Wins Fannie Mae Distressed Loan Auction Next: Treasury: Recap and Release Not Happening Tagged with: Capital Economics Existing-home Inventory Foreclosureslast_img read more

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Low REO Inventory Reduces Market Share of Cash Sales

first_img Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: NuView IRA CEO Hosts Webinar for Single-Family Rental Association Next: What is the Impact of Borrower Retention? Low REO Inventory Reduces Market Share of Cash Sales Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Share Save  Print This Post Tagged with: Cash Sales CoreLogic Distressed Sales Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Low REO Inventory Reduces Market Share of Cash Salescenter_img With less REO properties available for investors, declines in REO sales triggered a further decline for national cash sales. Not all states experienced the same level of decline though, according to the latest Cash Sales and Distressed Sales Data Report from CoreLogic.Cash sales accounted for 29.7 percent of total home sales in July 2016, down 1.9 percentage points year over year from July 2015. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25 percent. CoreLogic reports that if the cash sales share continues to fall at the same rate it did in July 2016, the share should hit 25 percent by mid-2018.REO sales, no surprise, had the largest cash sales share in July 2016 at 57.6 percent. Following behind, resales had the next highest cash sales share at 29.4 percent with short sales close behind at 28.1 percent and newly constructed homes at 15 percent.While the percentage of REO sales within the all-cash category remained high, REO transactions have been in decline since peaking in January 2011. REO sales made up 4.3 percent of the distressed sales share of total home sales while short sales made up 2.9 percent in July 2016.Most notably, CoreLogic reported that the distressed sales share of 7.2 percent in July 2016 was the lowest distressed sales share since September 2007. As with cash sales, the pre-crisis share of distressed sales was traditionally significantly than that of the post-crisis share. If the current year-over-year decrease in the distressed sales share continues, it will reach that “normal” 2-percent mark in mid-2018.Eight states did record higher distressed sales shares in July 2016 compared with a year earlier, though. Maryland had the largest share of distressed sales of any state at 19.4 percent, followed by Connecticut at 18.6 percent, Michigan at 17.8 percent, New Jersey at 15.6 percent, and Illinois at 15.5 percent. North Dakota had the smallest distressed sales share at 2.5 percent.While some states stand out as having high distressed sales shares, only North Dakota and the District of Columbia are close to their pre-crisis levels, says CoreLogic, each within one percentage point.On the cash sales side, New York had the largest share of any state at 44.6 percent, followed by Alabama at 43.6 percent, Florida at 39.6 percent, New Jersey at 37.3 percent, and finally Indiana at 37 percent. in Daily Dose, Featured, News October 19, 2016 1,357 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Kendall Baer Cash Sales CoreLogic Distressed Sales 2016-10-19 Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

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ReverseVision Announces New Partnership

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post ReverseVision Announces New Partnership Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago November 13, 2017 963 Views Tagged with: data HOUSING mortgage Technology Previous: Dinesh Chopra Joins Ally Financial Next: Matic Insurance and Mr. Cooper Announce $7M Funding Round ReverseVision, a provider of technology and training for the Home Equity Conversion Mortgage (HECM) industry, has recently announced a new partnership with Premier Reverse Closings (PRC), a title and settlement firm specializing in reverse mortgage closings. According to ReverseVision, the new integration between the companies’ software allows users of ReverseVision’s flagship RV Exchange (RVX) loan origination system (LOS) to order title services from PRC without ever leaving the RVX system.“Through our partnership with PRC, RVX users can now easily and efficiently request specialized title services from the nation’s leading expert in reverse mortgage closings,” said ReverseVision VP of Sales and Marketing Wendy Peel. “We look forward to a long a fruitful partnership with PRC that will generate even more solutions for optimizing the HECM lending process.”RVX is a centralized exchange that allows all participants in the lifecycle of a HECM to log in to a single system to share documents and information for each part of the loan process. By connecting point-of-sale, processing, underwriting, funding, post-closing and secondary marketing under one roof, RVX reduces document errors, heightens information security and shortens fulfillment times.“As leaders of our respective corners of the industry, Premier Reverse Closings and ReverseVision share a commitment to excellence in serving both reverse mortgage professionals and borrowers,” said Heather Moulden, SVP of Sales for PRC. “By integrating with PRC, RVX has given its customers access to a dedicated team of the industry’s most experienced HECM closing specialists.”California-based PRC is a national title and settlement company to specialize in reverse mortgages. PRC specialists have closed more than 175,000 transactions — most of them HUD-insured HECMs— since its founding more than nine years ago. Home / Featured / ReverseVision Announces New Partnership Share Save Subscribecenter_img Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Headlines, Journal, News, Technology The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Nicole Casperson Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago data HOUSING mortgage Technology 2017-11-13 Nicole Casperson Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days agolast_img read more

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FHFA Addresses GSEs’ Slimdown

first_imgHome / Daily Dose / FHFA Addresses GSEs’ Slimdown Servicers Navigate the Post-Pandemic World 2 days ago FHFA Addresses GSEs’ Slimdown About Author: David Wharton Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, Journal, News, Secondary Market This week has seen several updates on the GSEs’ various loan sales, providing insights into the Enterprises’ ongoing attempts to shift credit risk into the private sector. Most prominently, the Federal Housing Finance Agency (FHFA) has released its fifth report detailing the sale of non-performing loans (NPLs) by the GSEs, Fannie Mae and Freddie Mac.The FHFA’s latest Enterprise Non-Performing Loan Sales Report provides details about NPLs “sold through December 31, 2017, and reflects borrower outcomes as of December 31, 2017 on NPLs sold through June 30, 2017.” Through December 31, 2017, the Enterprises sold a total of 90,921 NPLs with a total unpaid principal balance (UPB) of $17.4 billion.The report further reveals that 18,419 NPLs were sold in 2017, as compared to 44,169 in 2016. NPLs sold had an average delinquency of 3.2 years and an average current loan-to-value ratio of 95 percent. Nearly half (46 percent) of the NPLs sold came from New Jersey, New York, and Florida. The report states, “These three states accounted for 47 percent of the Enterprises’ loans that were one year or more delinquent as of December 31, 2014, prior to the start of NPL program sales in 2015.”The report also details borrower outcomes for 79,638 NPLs that were settled by June 30, 2017, and reported through December 31, 2017. “Compared to a benchmark of similarly-delinquent Enterprise NPLs that were not sold, foreclosures avoided for sold NPLs were higher than the benchmark,” the report states.Homes occupied by borrowers had a higher rate of foreclosure avoidance outcomes, according to the report, coming in at 25.7 percent, versus 11.5 percent for vacant properties. In fact, NPLs on vacant homes had nearly double the rate of foreclosure over borrower-occupied properties (59.5 percent vs. 24 percent, respectively).FHFA also reports that 21 percent of the GSEs’ permanent modifications of NPLs provided arrearage and/or principal forgiveness, with the average forgiveness earned per loan to date standing at $51,452 (with the potential to earn an average forgiveness of $73,361).This week, Fannie Mae also announced both its seventh sale of reperforming loans and the winner of its latest non-performing loan sale.Fannie’s seventh sale of reperforming loans consists of approximately 27,000 loans, having a UPB of approximately $6.17 billion. This latest loan sale is being marketed in collaboration with Citigroup Global Markets, Inc. Bids are due on July 10, 2018. You can find more information or register to bid by clicking here.Finally, Fannie also announced that MTGLQ Investors, L.P. (Goldman Sachs) were the winners of the GSE’s thirteenth non-performing loan sale, consisting of approximately 9,800 loans totaling $1.64 billion in UPB, divided among four pools. You can read more of the details by clicking here. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 14, 2018 2,603 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Five Star & Aspen Grove Revamp Mortgage Industry Certification Platform Next: Fed Insight: A Snapshot of U.S. Housing The Best Markets For Residential Property Investors 2 days ago 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] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Fannie Mae Federal Housing Finance Agency FHFA Freddie Mac GSEs Non-Performing Loans Reperforming Loans 2018-06-14 David Wharton Tagged with: Fannie Mae Federal Housing Finance Agency FHFA Freddie Mac GSEs Non-Performing Loans Reperforming Loans Share Save Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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FHFA Welcomes New Director Mark Calabria

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 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. Related Articles The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Fannie Mae FHFA Freddie Mac GSEs Mark Calabria Regulator 2019-04-15 Seth Welborn Previous: Ginnie Mae’s MBS Balance Continues to Climb Next: Which State Has the Highest Tax Burden? Sign up for DS News Daily Home / Daily Dose / FHFA Welcomes New Director Mark Calabria Former Chief Economist to Vice President Mike Pence Dr. Mark A. Calabria began his role as director of the Federal Housing Finance Agency (FHFA) on Monday. Calabria enters into a five-year term term as the second Senate-confirmed FHFA Director. During his swearing-in ceremony, Calabria spoke on Fannie Mae and Freddie Mac, and the FHFA’s ongoing role as conservator of the GSEs and regulator.“FHFA has made tremendous progress since its birth in 2008, a development I’ve continued to watch with great interest from the outside,” said Calabria. “It is my foremost objective to cement those gains. It is all too easy to watch regulatory improvements erode as the memory of the last crisis fades.”According to Calabria, there is “more work to do.”“Markets change and advance, so must we,” he continued. Calabria states that he enters into this new role with a “great sense of urgency.”“The mortgage market was at the center of the last crisis, as it has been for many past financial crises, both in America and globally,” he said. “I believe the foundations of our current mortgage finance system remain vulnerable. After years of strong house price growth, too many remain locked out of housing, while others are dangerously leveraged. We must not let this opportunity for reform pass.”Calabria’s priorities as Director include ensuring that the GSEs were, “well capitalized, well managed, and well regulated.” During his nomination hearing, Calabria gave an outline of what his priorities would be if confirmed. Calabria said that a number of critical elements were needed in reform such as a “greater need for competition.” He said the current FHFA mandate was clearly where “the regulator cannot make such changes.” As a result, he said, “The very broad changes that have to happen in the mortgage finance system have to be done by Congress.”Calabria said that if he was confirmed as the FHFA Director his objective would be to ensure the GSEs were, “well capitalized, well managed, and well regulated.”In Monday’s speech, Calabria reinforced his plan for reform.“I remain optimistic about America’s housing and mortgage market. But I remain so, because I know together all of us can build a stronger, more secure foundation under that market for all Americans.”  Print This Postcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago April 15, 2019 1,605 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Tagged with: Fannie Mae FHFA Freddie Mac GSEs Mark Calabria Regulator Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn in Daily Dose, Featured, Market Studies, News FHFA Welcomes New Director Mark Calabria Subscribelast_img read more

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Presidential Candidates Lay Out Housing Plans

first_imgHome / Daily Dose / Presidential Candidates Lay Out Housing Plans Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Housing Supply in Daily Dose, Featured, Government, News Presidential Candidates Lay Out Housing Plans Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Studying Foreclosure Data by County Next: Default Servicing’s Most Popular Topics in 2019 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. About Author: Krista F. Brock Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Sign up for DS News Daily center_img Share Save Housing Supply 2019-12-20 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago December 20, 2019 5,144 Views Demand Propels Home Prices Upward 2 days ago As an increasing number of millennials reach the homebuying age, the nation continues to struggle with insufficient housing supply. The shortage is now catching the attention of presidential hopefuls, and according to researchers at the Urban Institute, they are largely on the right track with their proposals to address the housing shortage. “The solutions proposed by Democratic presidential candidates are an acknowledgement of the single largest problem our housing market faces today: lack of supply,” said Karan Kaul and John Walsh of the Urban Institute in a blog post this week. “Although mostly on point, the plans need some fine tuning and a reevaluation of strategies likely to be detrimental during economic downturns,” they said. On the positive side, two major components of the Democrats’ plans Kaul and Walsh support include offering incentives to states that reduce restrictive zoning laws and encouraging growth in alternative housing such as manufactured homes. Zoning laws and land-use restrictions can be prohibitive for housing construction, especially at lower price points. Zoning, code requirements, and land-use laws tend to favor larger, more expensive construction. While several Democrats’ housing plans include funding for incentive payments to states that ease these restrictions, the researchers say there should be even more emphasis on this aspect of the plan. Not only would easing these restrictions open up opportunity for more affordable housing construction, but also the savings incurred on construction “would then enable subsidy dollars to go further,” the researchers pointed out. They said addressing zoning and land-use laws will “have a multiplier effect” and thus should be a larger focus. The researchers also suggested focusing on manufactured housing and accessory dwelling units, which are cheaper and require less land than traditional single-family housing. Zoning regulations, lack of financing, and stigma currently hinder these affordable housing solutions. While the researchers believe the Democratic candidates are generally on the right track with their plans to address the housing shortage, they did identify two potentially negative proposals in the plans: taxing empty homes and a large tax on speculative homebuying. Bernie Sanders proposed a 2% tax on empty homes and a 25% tax on speculative homebuying in which someone sells a non-owner-occupied home within five years of purchasing it. While well-intentioned these taxes could have a negative impact in a troubled housing market. For example, a tax on empty homes in a downturn could lead sellers to sell quickly at lower prices, “thus exacerbating declines in housing prices,” the researchers say. Similarly, while discouraging “paint and flip” sales, the researchers say the tax on speculative homebuying would also “discourage sales of the large inventory of investor-owned homes to renters or other homebuyers at prices that reflect the value of improvements at a reasonable profit.” They would also discourage investors from stepping in and “stabilizing downward-spiraling house prices.”  Related Articleslast_img read more

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Deputy Pringle says Government now effectively running a dictatorship

first_img WhatsApp Previous articleMayor of Donegal calls for national campaign to tackle suicide following Shannon deathNext articleStrabane businesses face being ‘wiped-out’ if rates aren’t reduced News Highland WhatsApp A Donegal South-West Deputy has said that we are effectively now living in a dictatorship as the Government refuses to hold any kind of debate on the property tax.New legislation to give effect to the property tax being introduced next year will be voted on in the Dail today.The government has been accused of rushing through the legislation which doesn’t have to be in place until next July.Deputy Thomas Pringle says the legislation could be passed in the Spring, and discussions could be held between now and then…..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/12/tp.mp3[/podcast] Facebook Twitter Three factors driving Donegal housing market – Robinson Deputy Pringle says Government now effectively running a dictatorship By News Highland – December 14, 2012 448 new cases of Covid 19 reported today Help sought in search for missing 27 year old in Letterkenny Google+center_img Twitter Pinterest NPHET ‘positive’ on easing restrictions – Donnelly RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published Pinterest Facebook News Calls for maternity restrictions to be lifted at LUH Google+last_img read more

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Health Minister to visit Letterkenny General again in near future

first_img RELATED ARTICLESMORE FROM AUTHOR WhatsApp Pinterest Facebook Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Twitter Health Minister to visit Letterkenny General again in near future WhatsAppcenter_img Facebook Guidelines for reopening of hospitality sector published Previous article23-year-old woman released in Kerr murder investigationNext articleWest Donegal residents to boycott household tax News Highland By News Highland – July 29, 2011 Twitter Calls for maternity restrictions to be lifted at LUH LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Health Minister Dr James Reilly says he will visit Letterkenny General Hospital again in the near future after what’s been described as a constructive series of meetings at the hospital last evening.Minister Reilly received a comprehensive presentation from management at the hospital, and also met with health campaigners and local representitives.One of them, Cllr Ciaran Brogan, says there’s no doubt that the minister left with a better understanding of the situation locally, and that’s significant……….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/07/brog8301.mp3[/podcast] News Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

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