Data Shows Credit Access Is Loose for First-Time Buyers, But Loans Are Riskier

first_img The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Previous: DOJ Sues Quicken Loans for Alleged Improper Underwriting Practices Next: DS News Webcast: Friday 04/24/2015 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. Share Save Tagged with: AEI’s International Center on Housing Risk First Time Home Buyers Mortgage Credit Access Mortgage Risk in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago April 23, 2015 749 Views Data Shows Credit Access Is Loose for First-Time Buyers, But Loans Are Riskier Related Articles Based on the risk profile of the first-time homebuyers in March 2015, credit access is not as tight as is widely reported, but the loans are riskier, according to data released this week by the American Enterprise Institute (AEI)’s International Center on Housing Risk.The March 2015 First-Time Buyer Mortgage Risk Index (FBMRI) released on Thursday found that first-time homebuyers with an Agency guarantee (FHA, VA, or Rural Housing Service) during the month had a median downpayment of just 3 percent, which equates to about $3,900, and a median FICO score of 705, slightly below the median of 713 for all individuals in the U.S. with a FICO score. For first-time buyers with an FHA-guaranteed loan, the median FICO score fell to 671.“One hears practically every day that first-time buyers have limited access to mortgage debt,” said Stephen Oliner, co-director of AEI’s International Center on Housing Risk. “The FICO data show this isn’t true ― many borrowers with weak credit profiles are buying homes.”Overall, the FBMRI stood at 15.14 percent for March, a series record and a year-over-year increase of 0.5 percentage points. The FBMRI for Agency mortgage loans is nearly six and a half percentage points higher than the mortgage risk index for repeat homebuyers.The higher risk for first-time buyers can be attributed in large part to risk layering, according to AEI. In March, 68 percent of mortgages for first time buyers had a combined LTV of 95 percent of higher and 96 percent of those mortgages had a 30-year term. Because of the low down payment and slow amortization, it will take years for these buyers to gain a significant amount of equity in their house without substantial price appreciation, according to AEI.Also, one-fifth of first-time buyers taking out mortgages had a FICO score lower than 660, which is the traditional definition of a subprime mortgage, according to AIE. One-quarter of first-time buyers had total debt-to-income ratios higher than 43 percent, which is the limit established by the Qualified Mortgage rule. Mortgages taken out by repeat homebuyers were less risky because they had a smaller share of buyers with FICO scores lower than 660 and a much smaller share with a combined LTV of 95 percent or higher.These data that suggest credit is not as tight for first-time homebuyers stand in contrast to the National Association of Realtors (NAR)’s assertion that “interested homebuyers continue to find it challenging to obtain financing under tougher and more cautious credit standards.”“The first-time buyer MRI hit a series high of 15.14 percent in March, moving deeper into the high risk loan category,” said Edward Pinto, co-director of the AEI’s International Center on Housing Risk. “Notwithstanding this fact, the NAR and Urban Institute continue to call for the making of even riskier loans to first-time buyers, many of whom would be lower-income and minority buyers.”Also released on Thursday, the March 2015 First-Time Buyer Mortgage Share Index found that first-time buyers accounted for 56.6 percent of government-guaranteed primary owner-occupied purchase mortgages, which was a slight year-over-year decline from 57.1 percent reported in March 2014.“March’s results continue to show that first-time buyer volume and share remain strong, showing little variance beyond seasonal trends,” Pinto said. “This indicates the path to increased home building and home sales is stronger job and wage growth, not loosening of lending standards.”center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Data Shows Credit Access Is Loose for First-Time Buyers, But Loans Are Riskier Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea AEI’s International Center on Housing Risk First Time Home Buyers Mortgage Credit Access Mortgage Risk 2015-04-23 Brian Honea Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

CFPB: Mortgages Remain the Most Complained About Financial Product

first_img March 2, 2016 1,361 Views  Print This Post in Featured, Market Studies, News CFPB: Mortgages Remain the Most Complained About Financial Product About Author: Xhevrije West Mortgage loans in today’s housing market are not keeping homebuyers happy, as they are most complained about product in the eighth volume of the Consumer Financial Protection Bureau’s (CFPB)  Monthly Complaint Report.The CFPB’s report, released Tuesday, showed that as of February  1, 2016, the CFPB has handled a total of 811,700 complaints nationally, up 8 percent from December 2015 and January 2016.The three most-complained-about financial products were debt collection, mortgages, and credit reporting for January 2016, representing 67 percent of complaints submitted.In January 2016, the Bureau received 21,800 complaints, and 4,263 of these were mortgage-related complaints, up 12 percent month-over-month. Mortgages were the second most complained about category this month but the highest complained about financial product overall. The CFPB has received a total of 213,861 mortgage-related complaints.The CFPB began accepting complaints from consumers about financial products shortly after opening its doors in July 2011. The mortgage market is the largest consumer financial marketplace in the country with more than $10 trillion in total value. The CFPB enacted new mortgage rules in 2014 to ensure strong consumer protections and also ensure that lenders offered affordable mortgages to consumers.”Despite strong protections that have been put in place to protect homeowners, this month’s complaint report shows consumers are still having problems when dealing with their mortgages,” CFPB Director Richard Cordray said. “The Bureau will continue to work to make sure that consumers are being treated fairly on their mortgage issues.”The CFPB once again pointed to the credit reporting agencies, Equifax, TransUnion, and Experian, as the top three most complianed about companies from September and November of 2015.The CFPB’s Consumer Complaint Database has generated much controversy since June when it began publishing narratives of complaints from consumers. So much so that CFPB Director Richard Cordray issued a rare public response to the criticisms in late November.The CFPB’s Ombudsman Office issued its annual report for FY 2015 to Cordray outlining potential changes to the database. One of the items mentioned was a need for the normalization of data presented.Also according to the Ombudsman’s report, the CFPB and companies are working together to prevent duplicate complaints from being published in the database and that in recent months the companies are taking more of a role in identifying duplicate complaints. The Ombudsman recommended that Consumer Response share an expanded definition of “duplicate complaint” on the Consumer Complaint Database website to include complaints that are from “the same person, same transaction, and same issue” and not just complaints that are simply verbatim copies of previous complaints. The purpose of expanding the definition of “duplicate complaint” is so database users can adjust their calculations and analyses accordingly, according to the report.“In our FY2014 Annual Report, we highlighted the concern from industry groups about the need for normalization of data in the public Consumer Complaint Database to provide context to the data and continued to hear this and related concerns in FY2015,” the Ombudsman stated. “This year, we provided feedback and suggestions to the CFPB regarding normalization of the data.Click here to view the full report. Servicers Navigate the Post-Pandemic World 2 days ago CFBP Consumer Complaint Database Consumer Financial Protection Bureau Mortgages 2016-03-02 Brian Honea Previous: The Results are In: How Did the Presidential Candidates Fare on Super Tuesday? Next: DS News Webcast: Wednesday 3/2/2016 Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribecenter_img Tagged with: CFBP Consumer Complaint Database Consumer Financial Protection Bureau Mortgages The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Sign up for DS News Daily Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Share Save Is Rise in Forbearance Volume Cause for Concern? 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 Home / Featured / CFPB: Mortgages Remain the Most Complained About Financial Product Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

Finishing Strong

first_imgSubscribe in Daily Dose, Featured, Headlines, News, Secondary Market Sign up for DS News Daily Finishing Strong July 12, 2017 1,342 Views The Federal Housing Finance Agency (FHFA) announced on Wednesday that it has reached a settlement on behalf of Freddie Mac and Fannie Mae with the Royal Bank of Scotland for the amount of $5.5 billion.The case, FHFA v. The Royal Bank of Scotland Group plc et al., Case No. 3:11-cv-1383, alleges that, amongst other things, the Royal Bank of Scotland was in violation of federal and state security laws that deal with private-label residential mortgage-backed securities. The securities in question were purchased by Freddie Mac and Fannie Mae from 2005 to 2007. Within the terms of the settlement, the Royal Bank of Scotland will pay $4.53 billion and $975 million to Freddie Mac and Fannie Mae, respectively. The lawsuit was filed back in 2011.During the suit, the Royal Bank of Scotland motioned for a stay of discovery, contending that, because the FHFA was bringing private causes of action under federal securities laws, along with the fact that the FHFA was acting as conservator to Freddie Mac and Fannie Mae, the suit fell under the Private Securities Litigation Reform Act and was subject to an automatic stay while a motion to dismiss was being considered. The Royal Bank of Scotland also argued that, even if their motion for a stay of discover was not covered under the Private Securities Litigation Reform Act, it still would fall under the Federal Rule of Civil Procedure 26, which states:”the party seeking a protective order has the burden of showing that good cause exists for issuance of that order,” Gambale v. Deutsche Bank AG, 377 F.3d 133, 142 (2d Cir. 2004) a burden that requires “a strong showing.” Moss v. Hollis, CIV. No. B-90- 177 (PCD), 1990 WL 138531, at “The pendency of a dispositive motion is not, in itself, an automatic ground for a stay.”The court ultimately found that the Royal Bank of Scotland did not meet its burden of proof.The suit against the Royal Bank of Scotland is one of 18 lawsuits filed by the FHFA as conservator for Fannie Mae and Freddie Mac, and represents the 17th suit that has been settled. Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Royal Bank of Scotland  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago About Author: Joey Pizzolato Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Demand Propels Home Prices Upward 2 days ago Related Articles Home / Daily Dose / Finishing Strong Fannie Mae FHFA Freddie Mac Royal Bank of Scotland 2017-07-12 Joey Pizzolato The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Opened and Closed . . . And Opened Again Next: Keeping an Eye on Affordability Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Time is Running Out

first_img in Daily Dose, Featured, Headlines, News Previous: And the Verdict Is … Next: Working with Homeowners  Print This Post About Author: Joey Pizzolato Related Articles August 4, 2017 1,473 Views Home / Daily Dose / Time is Running Out Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Time is Running Out Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Share Save 2017-08-04 Joey Pizzolato The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The time to submit a nomination for MReport’s Women of Impact list, which features influential female leaders in the housing and mortgage industry, will be closing at the end of the day on Monday, August 7. The honorees will be recognized in the magazine’s special Women in Housing issue in September. MReport is the sister publication of DS News magazine.The Women of Impact list will be broken down into three categories: Power Players, which honors five executive-level and C-suite women; Leading Ladies, which recognizes top female executives and managers; and Notable Names, which profiles up-and-coming talents who are 35 years of age or younger as of September 1, 2017.MReport’s Women in Housing issue is a special issue published annually in conjunction with the Five Star Institute’s Women in Housing Leadership Forum, the concluding event at the Five Star Conference and Expo. Happening September 18-20, 2017, at the Hyatt Regency hotel in Dallas, the forum will be the fifth of its kind.According to Rachel Williams, Editor-in-Chief of MReport, the forum—and the magazine’s corresponding special issue—are much-needed initiatives in today’s market.“Gender equality in the workplace is an important issue in our country and, as a woman, I’m proud the housing industry is doing so much to make it a priority,” Williams said. “Our special issue and the Five Star forum are just one small way we recognize these efforts, as well as all the women who lead the housing and mortgage sectors each and every day.”The forum will include keynote presentations from industry leaders, as well as panels on diversity and inclusion.To learn more, see last year’s Women in Housing issue or visit FiveStarConference.com. To nominate yourself or a colleague for MReport’s Women of Impact list, click here. Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Are Servicing Reforms on the Horizon?

first_imgHome / Daily Dose / Are Servicing Reforms on the Horizon? A report titled Setting the Stage for Servicing Reforms, released by the Urban Institute’s Housing Finance Policy Center (HPFC) on Wednesday has made a case for the importance of policy reforms in the mortgage servicing sector. The report reviewed how the mortgage industry has changed over time and explained the importance of the mortgage servicing industry to the overall housing market as well as the significance of servicing to a wide variety of stakeholders.The report is the first in a series by HPFC’s Mortgage Servicing Collaborative—a group consisting of lenders, servicers, consumer groups, civil rights leaders, researchers, and government—that was convened to develop a common understanding of the biggest issues in mortgage servicing, their implications, and possible solutions as well as policy options that can advance policy reforms for mortgage servicing. The series will examine key servicing issues and provide recommendations for resolving them.It touched upon the current mortgage servicing landscape, how it was before the 2008 housing crisis and how it has changed after the Great Recession. The report pointed out to the fact that although new rules put in place after the crisis increased standardization, they are not aligned among investors, leading to inefficient servicing.Making its case for policy reforms to increase efficiency in this sector, the report said that the costs of servicing mortgage loans have increased since the 2008 crisis. Citing an MBA survey of mortgage servicers, the report said that between 2008 and 2016, the per loan cost of servicing a non-performing loan, one that is either delinquent or in default, has almost quadrupled from $482 to $2,113. The cost of servicing a performing loan has also nearly tripled from $59 to $163. These increasing costs have a negative effect on all stakeholders such as consumers, mortgage servicers, federal regulators, insurers, guarantors, and housing counselors the report said.The report indicated that the mortgage servicing industry today was much more complex, tightly regulated, and sophisticated than the pre-crisis servicing industry. With housing reform finance legislation once again in the works in Congress, now was the right time for service reforms. The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Are Servicing Reforms on the Horizon? Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Congress Great Recession housing finance reforms Investors Lenders loans mortgage Risks Servicing Urban Institute Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Related Articles Demand Propels Home Prices Upward 2 days ago January 10, 2018 1,417 Views Demand Propels Home Prices Upward 2 days ago Congress Great Recession housing finance reforms Investors Lenders loans mortgage Risks Servicing Urban Institute 2018-01-10 Staff Writer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Previous: First-Time Homebuyers Could Face Increased Default Risks in 2018 Next: How Could Housing Reform Affect Rural Mortgage Lending? Share Savelast_img read more

Brushing up on Vacant Property Law

first_imgHome / Daily Dose / Brushing up on Vacant Property Law  Print This Post Brushing up on Vacant Property Law Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: David Wharton Legal League 100 LL100 Stephen Hladik Vacant and Abandoned Homes Webinar zombie homes 2018-11-28 David Wharton The Best Markets For Residential Property Investors 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 Previous: Tackling the Unknown Next: The Challenges in Financial Services Tagged with: Legal League 100 LL100 Stephen Hladik Vacant and Abandoned Homes Webinar zombie homes The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily center_img Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 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] November 28, 2018 2,337 Views in Daily Dose, Featured, Foreclosure, News Related Articles Demand Propels Home Prices Upward 2 days ago On Wednesday afternoon, the Legal League 100 continued its series of complimentary webinars with a presentation entitled “Developments in Vacant and Abandoned Property Law.” Hosted by Stephen Hladik, Partner, Hladik, Onorato & Federman LLP, the webinar provided an overview of vacant and abandoned property state statutes in effect, states with legislation pending, and what a model definition of “vacant” or “abandoned” property should be on a national level.Many of the problems stem from the lack of a consistent, nationwide legal definition of what constitutes a “vacant” or “abandoned” property. Servicers, property preservation vendors, and financial services attorneys alike are often hampered by the inconsistency of these definitions across state lines, and by the fact that they are often confusing even within them. “While the number of total foreclosures nationwide may be declining, there is still a major issue facing lenders, servicers, cities, and municipalities in how to deal with the problems created by vacant or abandoned properties,” Hladik said. “The risk of loss on these types of properties is obviously much higher than an occupied property, and lenders or servicers need new and innovative tools to be able to minimize the risk by shortening foreclosure time frames wherever possible.”Hladik—who also participated in DS News’ “Zombie Homes—Challenges and Guidance” webinar this past summer—started with the basics, defining exactly what constitutes a “zombie property” and diving into the unique legal, servicing, and property preservation challenges presented by abandoned properties that are stranded in some stage of the foreclosure process. Hladik also discussed why this type of abandoned property is so prevalent in states with judicial foreclosure processes.As Hladik explained, the nationwide number of zombie properties has been on the decline since peaking during the financial crisis, but they still remain abundant enough to cause problems in states such as New York, New Jersey, Florida, Illinois, and Ohio. Hladik then examined how effective so-called “fast-track foreclosure laws” had been in the states which have adopted them, including New Jersey, Washington state, and Connecticut, to name a few. The webinar then delved into recent legislation in states such as Pennsylvania, which passed two noteworthy anti-blight laws in June of 2018, designed to more clearly define “vacant” and “abandoned,” as well as to generally help expedite the process of maintaining these properties during the foreclosure process and then getting them turned and back on the market as soon as possible.You can view the full PowerPoint presentation for the webinar here. Servicers Navigate the Post-Pandemic World 2 days ago Share Save Subscribelast_img read more

Fannie Mae Prices Latest Connecticut Avenue Securities Offering

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily March 4, 2020 2,092 Views Fannie Mae has priced its first Connecticut Avenue Securities (CAS) Seasoned B-Tranche transaction, representing the third CAS transaction of 2020. CAS 2020-SBT1 is a $966 million security offering that references loans that were included in 2015 and 2016 CAS deals. Fannie Mae’s issuance program is designed to share credit risk on its single-family conventional guaranty book of business.”This marks our second transaction in an ongoing program to transfer risk on our seasoned loan book. These transactions offer investors a different profile than our ongoing benchmark CAS REMIC transactions. We were pleased to see the strong demand for the deal, especially in light of the backdrop of global market volatility,” said Laurel Davis, VP of Credit Risk Transfer, Fannie Mae. “We plan to return to the market in late March with our next benchmark CAS REMIC.”According to Fannie Mae, the CAS issuer strategy works to build program in a sustainable way to promote liquidity. Similiarly, the GSEs are looking to expand liquidity through the Uniform Mortgage-Backed Security (UMBS).”As we enter the seventh year of the CAS program, we are pleased to see the growth, stability, and liquidity of this market supported by a deep and diverse investor base,” said Davis. “Our single-family credit risk transfer programs recently crossed a significant milestone, transferring a portion of credit risk on over $2 trillion in underlying loans since 2013. Subject to market conditions, we plan to return to market in mid-February with a high-LTV CAS deal.”The reference pool for CAS Series 2020-SBT1 consists of over 700,000 single-family mortgage loans with an outstanding unpaid principal balance of approximately $152 billion. The reference pool, with loans acquired from 2014 to 2016, includes one group of loans comprised of collateral with loan-to-value ratios of 60.01 to 80.00 percent and another group comprised of collateral with loan-to-value ratios of 80.01 percent to 97.00 percent. The loans included in this transaction are fixed-rate, generally 30-year term, fully amortizing mortgages, and were underwritten using rigorous credit standards and enhanced risk controls.Fannie Mae will retain a portion of the 1M-2, 1B-1, 2M-2, and 2B-1 tranches in order to align its interests with investors throughout the life of the deal. Fannie Mae will retain the full 1B-2 and 2B-2 first-loss tranches.With the completion of this transaction, Fannie Mae will have brought 41 CAS deals to market, issued $47 billion in notes, and transferred a portion of the credit risk to private investors on nearly $1.5 trillion in single-family mortgage loans, measured at the time of the transaction. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Fannie Mae Prices Latest Connecticut Avenue Securities Offering Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Fannie Mae Prices Latest Connecticut Avenue Securities Offeringcenter_img Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 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. in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Best in Government & Mortgage Servicing to Convene in D.C. Next: Home Flipping’s Ups and Downs Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Tagged with: CAS Fannie Mae Freddie Mac CAS Fannie Mae Freddie Mac 2020-03-04 Seth Welbornlast_img read more

Forbearance Volumes Change Course

first_img Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Loss Mitigation, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles November 20, 2020 1,665 Views After falling by 273,000 or 9% over the past two weeks, forbearance volumes edged upward this week.Data collected by Black Knight through November 17 showed that about 5.2% of all active mortgage loans nationwide are in forbearance programs—that’s about 2.77 million. The number is significantly lower than last spring’s peak, which was 4.76 million in late May.Black Knight publicist Angela Brangaccio summed up the report for DS News:”This week’s rise was a result of an increase of 15,000 forbearances among FHA/VA loans, along with 14,000 and 1,000 additional loans in forbearance among private-label securities/bank portfolios and the GSEs, respectively.”Despite the weekly increase, the number of active forbearances remains down 7% (-212,000) from the same time last month,” Brangaccio said. “We’re used to seeing incremental increases in the middle of the month, with bigger declines usually happening in the beginning of the month as forbearance plans expire.”Also of note, extensions account for 82% of active forbearance cases.Each week, Black Knight compiles a report from its McDash Flash Forbearance Tracker, which tracks forbearance volumes and related data, and posts a summary here on this blog.The following chart tracks forbearances throughout the course of the coronavirus pandemic:Last week, Freddie Mac released a report that showed the extent to which forbearances have helped keep homeowners in their houses despite COVID-related delinquencies. For Freddie-backed loans, the survey compares the coronavirus to previous natural disasters such as hurricanes and fires.Freddie Mac concluded that homeowners have delayed about $4 billion in mortgage payments each month through forbearance.According to the report, the early pandemic forbearance rate was slightly lower than the 5.8% recorded from August 2017 to December 2017, when Hurricanes Harvey, Irma, and Maria wreaked havoc. Three years ago, the financial stress was strictly regional, whereas this year the stress is nationwide.“Mortgage forbearance provides liquidity to households and plays a vital role in mitigating the damage to homeowners during times of crisis whether it be a hurricane, wildfire, or health epidemic,” said Sam Khater, Freddie Mac’s Chief Economist. “Research on this topic is important because it will help us prepare for the next several months as we continue to navigate the COVID-19 pandemic, and beyond.” Previous: Social Welfare Group Pushes for Immediate Pro-Housing Policy Next: Could Fed Policy Inadvertently Disrupt the Housing Market? About Author: Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Forbearance Volumes Change Course Forbearance Volumes Change Course 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. The Best Markets For Residential Property Investors 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago 2020-11-20 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Donegal election candidate didn’t return expenses details – SIPO

first_img Twitter NPHET ‘positive’ on easing restrictions – Donnelly Previous articleDetectives investigating Derry death study PM resultsNext articleCampaign to have special status given to Strabane Academy steps up a gear News Highland Pinterest Three factors driving Donegal housing market – Robinson By News Highland – October 18, 2011 Google+ Twitter WhatsApp Calls for maternity restrictions to be lifted at LUH Facebook WhatsAppcenter_img Newsx Adverts Google+ Facebook Pinterest 448 new cases of Covid 19 reported today Help sought in search for missing 27 year old in Letterkenny Donegal election candidate didn’t return expenses details – SIPO A Donegal North East Election candidate says his inclusion on a list of people who have failed to disclose election expenses and donations was due to a miscommunication which has now been cleared up.Ryan Stewart, who contested the election as an independent, was named thios evening by the Standards in Public Office Commission as one of 23 people whose details have been referred to the gardai and the DPP.Mr Stewart says he did submit documentation, but didn’t receive other documentation from SIPO because he had moved house shortly after the election………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/10/ryans7pm.mp3[/podcast]Meanwhile, the report shows disclosed expenses were down almost 16 per cent on the figure reported for the 2007 election.Fine Gael spent 3.1-million euro, followed by Fianna Fail with 2.1-million.Labour’s election costs amounted to almost 2-million, while Sinn Féin’s figure totaled almost 500-thousand.The Green party – who failed to have any candidate elected – spent almost a quarter of a million euro. RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector publishedlast_img read more

Future of Town Councils set to top the agenda at LAMA conference

first_img Google+ WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly Facebook Pinterest Google+ Help sought in search for missing 27 year old in Letterkenny 448 new cases of Covid 19 reported today Calls for maternity restrictions to be lifted at LUH WhatsApp Guidelines for reopening of hospitality sector published Previous articleThree men due in court as part of Buncrana arson investigationNext articleFormer Chair of Independent Fianna Fail would welcome its re-establishment News Highland center_img Twitter By News Highland – September 8, 2011 Facebook RELATED ARTICLESMORE FROM AUTHOR Pinterest The Association of Municipal Authorities in Ireland holds its annual conference today with Letterkenny Town Council’s representative predicting concerns over local government reform will dominate proceedings.There is an uncertain future for Town Councils, particularly those in less populated areas, as the government looks to streamline local government in an effort to save money.Letterkenny Town Councillor Gerry McMonagle, who is attending today’s conference, says the government must acknowledge the good work done and give an assurance on their future of town councils:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/09/gerr1lamapm.mp3[/podcast] Twitter Three factors driving Donegal housing market – Robinson Future of Town Councils set to top the agenda at LAMA conference Newsx Advertslast_img read more