Month: May 2021

October Job Gains Pushing Housing Toward Recovery

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea The labor market is helping to boost housing recovery despite a weak virtuous cycle between the jobs and housing recently, according to research released by Trulia earlier this week.The percentage of employed 25- to 34-year-olds reported in October (76.2 percent) is still slightly below its pre-housing bubble rate (78 to 80 percent) but is still at its highest level since 2008, which bodes well for the housing market, since 25 to 34 is the prime age for household formation, according to Trulia. Having a job made a big difference in housing among that age group, according to 2014 Census data – only 12 percent of 25- to -34-year-olds with jobs lived with their parents, as opposed to 21 percent of those in that age group who don’t have jobs. The Bureau of Labor Statistics recently announced that the overall U.S. unemployment rate hit a new six-year low in October.Another key to housing recovery is job growth in “clobbered metros” (areas affected the most by the housing bust), according to Trulia. Job growth was reported a 2.0 percent year-over-year increase in September, which was slightly ahead of the national rate of 1.9 percent for that same period. The clobbered metros with the highest rate of job growth year-over-year in September were Orlando (3.7 percent), Miami (3.4 percent), Jacksonville (3.3 percent), and Las Vegas (2.8 percent). The highest rate of job growth among the top 100 metro areas (clobbered or no) was in Houston, at 4.3 percent. The lowest rate was in Columbus, Ohio, at 0.7 percent, according to Trulia.Residential construction employment, which is an indicator of whether or not jobs are helping the housing market, saw their lowest monthly gain in October (8,000 jobs) since May 2014, according to Trulia. Year-over-year in October, however, residential construction job growth (6.0 percent) was way ahead of the overall national job growth rate for that period (1.9 percent). This may seem like a slow growth rate when compared to the 19.5 percent increase in the number of units under construction that was reported for September, but upon further examination, the rate of growth for employment in residential construction is high relative to construction activity, Trulia reported. Employment Housing Recovery Jobs Residential Housing Construction Trulia 2014-11-07 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Previous: Consumer Confidence Growing, But Attitudes Toward Housing Remain Mixed Next: Detroit ‘Blight Bundle’ Buyer Withdraws Offer 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. Sign up for DS News Daily October Job Gains Pushing Housing Toward Recovery in Daily Dose, Featured, Market Studies, News Related Articles The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / October Job Gains Pushing Housing Toward Recovery Subscribe  Print This Post Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago November 7, 2014 1,422 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Employment Housing Recovery Jobs Residential Housing Construction Trulia Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Buyer Behavior—Emotional Factors Drive Purchase Decisions

Home / Featured / Buyer Behavior—Emotional Factors Drive Purchase Decisions  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Featured, News April 7, 2016 1,725 Views Bank of America First-Time Homebuyers Home Investment Properties 2016-04-07 Scott Morgan Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Buyer Behavior—Emotional Factors Drive Purchase Decisions About Author: Scott Morgan Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Previous: Why are Millennials Locked Out of the Housing Market? Next: Protesters Turn Up the Heat on FHFA Director Watt Tagged with: Bank of America First-Time Homebuyers Home Investment Properties Servicers Navigate the Post-Pandemic World 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. Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Bank of America’s first-ever look at homebuying trends has found that more buyers want a home more than they want an investment in property.According to BOA’s inaugural Homebuyer Insights Report (HIR), released Wednesday, three quarters of first-time homebuyers want to skip buying a starter home in favor of a long-term, single-family homes. That same 75 percent was also motivated by “emotional factors,” meaning more first-time buyers are seeing the purchase of property as homes, not investments and portfolio pieces.However, about two-thirds of first-time buyers said they are also motivated by the financial advantages of owning a home, and 59 percent said they are aware enough of the importance of a downpayment that they are saving specifically for one. Nine of 10  homebuyers consider saving for or paying off a home as important as saving for retirement, the report found.Millennials, however, did say they still expect some help getting that first home. According to the HIR, 66 percent of first-time millennial buyers said they expect some type of help, financial or otherwise, from their parents when buying.Also when it comes to money, good mortgage rates top the list of reasons first-time buyers want to work with a mortgage provider. However, the same percentage of buyers (59) said that trustworthiness was just as important, trumping the wish to work with providers who have buyers’ best interest at heart.Perhaps more surprising is the growing interest in settling into the suburbs. Despite migration trends toward cities and urban-style downtowns, particularly among millennials, over the past few years, the HIR shows that nearly 60 percent of first-time buyers want out of the cities and into the suburbs. And for those buyers, the biggest motivators are cost (82 percent) and the wish to live in a good neighborhood (71 percent).According to the HIR, three-quarters of first-time buyers said they want a single-family home, while 11 percent said they would like to purchase a townhome. A mere 6 percent are interested in condos.“Every day, we talk to clients who are motivated to purchase a home for many reasons, including the pride of ownership and desire to establish roots in a community,” said D. Steve Boland, a consumer lending executive for Bank of America. “Today’s aspiring homebuyers want to be selective and believe they should wait until they can afford to buy a home they’ll live in for years to come. They’re also realistic about the need to save for a down payment.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Share Save read more

The Week Ahead: A Historic Election in the Making

first_img November 6, 2016 1,145 Views Related Articles CoreLogic CoreLogic Foreclosure Report 2016-11-06 Kendall Baer Share Save in Daily Dose, Featured, News Months of heated debates between Republican presidential candidate Donald Trump and Democratic presidential candidate Hillary Clinton will come to a head on Tuesday, November 8, when the nation will choose one or the other to be the next president.Neither candidate has said much about housing policy; during the first debate between the two in late September, Clinton resurrected a charge she made against Trump earlier this year: “Donald was one of the people who rooted for the housing crisis. He said, back in 2006, ‘Gee, I hope it does collapse, because then I can go in and buy some and make some money.’ Well, it did collapse.”Trump responded to the accusation by saying, “That’s called business, by the way.”While Clinton has not spoken explicitly about housing policy, her choice of Gene Sperling as one of her top economic advisors may indicate which way she wants to go. Sperling was the co-author of a white paper for the Urban Institute earlier this year that proposed replacing Fannie Mae and Freddie Mac with a private corporation.Trump told an audience at the National Association of Home Builders’ Midyear Meeting in Miami earlier this year that overregulation has hurt the economy, and if elected he plans to issue a moratorium on agency regulation. He has stated at times during his campaign that he would like to eliminate Dodd-Frank in particular.Furthermore, Trump has stated that he plans to discontinue funding of at least some government housing programs and work to ease the current regulatory framework if elected. He has specifically alluded to the possibility of eliminating The U.S. Department of Housing and Urban Development.Clinton shared via her website that she plans to “reduce barriers to lending in underserved communities,” and “support housing counseling programs.” She has also noted that if elected she will “provide the resources necessary to overcome blight, giving communities a chance to rebuild and renew with new businesses, new homeowners, and new hope.”Quicken Loans—Home Price Perception Index and Home Value Index for October 2016, Tuesday, November 8Quicken Loans will release its Home Price Perception Index (HPPI) and Home Value Index (HVI) for October on Tuesday, November 8. In September, values were 1.26 percent less than what homeowners estimated, down from the 1.56 percent gap in August.Quicken’s home value index for September found that home values dropped 0.28 percent from August to September, but increased by a robust 7.78 percent since September 2015. The drop in values comes after four straight months of increases.“This small decrease in home values is not a signal of a turning tide, it just shows the volatility that can come with changing seasons,” said Quicken Loans chief economist Bob Walters. “As the summer came to a close, the intense competition for available homes began to abate and home values dipped as a result. It’s important to focus on the annual picture. The strong yearly growth negates monthly changes and shows we are moving in the right direction.”This week’s scheduleTuesday, November 8U.S. Presidential ElectionQuicken Loans—Home Price Perception Index and Home Value Index for October 2016 The Week Ahead: Nearing the Forbearance Exit 2 days ago 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 Tagged with: CoreLogic CoreLogic Foreclosure Report Previous: Housing Policies Up for Vote Come Election Day Next: What Factors Are Stabilizing Housing Affordability? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: A Historic Election in the Makingcenter_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Week Ahead: A Historic Election in the Making 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Kendall Baer Sign up for DS News Daily Subscribelast_img read more

The Week Ahead: FOMC to Meet Wednesday

first_imgHome / Daily Dose / The Week Ahead: FOMC to Meet Wednesday  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Fed Federal Budget Federal Reserve Freddie Mac Yellen The Federal Open Market Committee and the Federal Reserve Board of Governors Board of Governors are set to meet Tuesday, June 13 and Wednesday, June 14, in Washington D.C.. It will be their fourth meeting of 2017.The Board of Governors meet eight times a year to determine the economic situation, assess interest rates, and discuss domestic financial market conditions. They will also prepare an economic forecast. Janet Yellen, Chair of the Board of Governors, is scheduled to give press conference at 2:30 p.m. eastern time on Wednesday. In May, the last time the board met, they voted unanimously to maintain interest rate paid on required and excess reserve balances at 1.00 percent. The committee also maintained its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities. They have said they anticipate on continuing this policy moving forward. June’s meeting will come with a Summary of Economic Projections. They did not prepare one in May.This Week’s Schedule:Federal Budget, Monday 2 p.m. ESTYellen Press Conference Wednesday 2:30 p.m. ESTFreddie Mac Weekly Mortgage Survey, Thursday 10 a.m. ESTNew Residential Construction Report, Friday Subscribe Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago June 11, 2017 1,138 Views The Week Ahead: FOMC to Meet Wednesday Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily About Author: Staff Writer Related Articles The Best Markets For Residential Property Investors 2 days ago Fed Federal Budget Federal Reserve Freddie Mac Yellen 2017-06-11 Staff Writer Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Headlines, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Post-Foreclosure Stress Disorder: Barriers Keeping Buyers from Market Next: ValuAmerica Expands Footprint With California Acquisition of ValuEscrow The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

The Industry Pulse: Updates on a360inc, Xome, and More

first_imgHome / Daily Dose / The Industry Pulse: Updates on a360inc, Xome, and More  Print This Post in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago Subscribe 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 August 22, 2018 1,678 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: How a Fair Housing Amendment Moved Ahead Next: Loan Denial Rates and Credit Scores Demand Propels Home Prices Upward 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Related Articles About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago This month, the Women’s Mortgage Banking Collective (WMBC) unveiled its new logo. This collective was formed in April 2018 to bring together women in all roles and levels in the mortgage banking community to educate, connect, and empower women, and was co-founded by Stacie Rankey and Toni Bramley. “We knew what we were looking for in a group, connecting women was the foundation, but also having a speaker share her story and offer practical applications was key,” Rankey said. “And we knew what we wanted as women in the industry and hearing from women leaders and their path is encouraging and empowering, the format is casual, and everyone is welcome whether you live in Dallas/Fort Worth or you are in town for business,” Bramley added. The Industry Pulse: Updates on a360inc, Xome, and More Share Save Tagged with: a360inc Loan mortgage Technology title TransUnion Valuation WMBC Xome a360inc Loan mortgage Technology title TransUnion Valuation WMBC Xome 2018-08-22 Radhika Ojha 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 From partnerships and appointments to new branding and technology get the latest buzz on the industry in this weekly update.a360inc, a Dallas, Texas-based technology and outsourcing solutions company, and National Creditors Bar Association (NCBA) have announced a national partnership designed to provide access to compliance training programs for the bar association’s more than 500 law firms and their staffs, as well as NCBA’s in-house counsel members. The customized online portal, hosted by a360inc and available to NCBA members, currently offers 10 compliance training courses specific to the practice of creditors’ rights law. The initial course offerings include compliance training covering topics such as the Americans with Disabilities Act and the Servicemembers Civil Relief Act, among others. Each course includes several modules and knowledge assessments which must be completed in order by the user, to complete and successfully finish a course. Additional courses will be introduced periodically. “Compliance is critical in today’s environment, and at a360inc we’re focused on helping firms transform their businesses into efficient, compliant, and operationally sound enterprises. Our exciting new partnership with NCBA is an example of how we approach that transformation holistically,” said Scott Brinkley, CEO, a360inc._____________________________________________________________________________Dallas, Texas-headquartered, Xome Holdings LLC (“Xome”), an indirect wholly-owned subsidiary of WMIH Corp, has announced the appointment of Rayman Kaur Mathoda as CEO. Mathoda will be responsible for all operations, continuing to offer enhanced solutions and exceptional service to the company’s clients. “Rayman brings a 20-year track record of success in the real estate market. She is a strategic thinker with operational savvy who is uniquely qualified to leverage technology, tools, and intellectual property to expand Xome’s third-party exchange, title, valuation and field services businesses,” said Jay Bray, Chairman, and CEO of WMIH Corp., the holding company for Xome. “I’m thrilled to welcome her experience, energy, and leadership to Xome.” In her role, Mathoda will oversee the growth of Xome throughout all segments, including the expansion of third-party opportunities across the exchange, title, valuation and field services businesses and the transition of the recently acquired Assurant Mortgage Solutions business. Additionally, she will continue to position Xome’s proprietary technology in the exchange segment as a digital platform for buying and selling homes._____________________________________________________________________________To meet the evolving needs of consumers, Chicago-based TransUnion has announced the launch of Mobile Offers Now. This solution helps financial institutions respond to increasing consumer expectations to be served when and where they choose. Mobile Offers Now leverages TransUnion’s existing Find My Offer platform to provide consumers with instant access to prequalified credit offers through a simplified, SMS-initiated, mobile experience. The technology seamlessly integrates real-time credit decisioning with consumer and device authentication, creating a secure, personalized, and dynamic user experience. “To stay competitive in an increasingly digital world, financial institutions know that they need to reduce unnecessary friction and poor experiences to attract and keep good consumers,” said Dane Mauldin, Chief Product Officer at TransUnion. “Consumers are demanding faster ways to find offers and apply for credit when and where they need it. With Mobile Offers Now, they may simply text a keyword to instantly check for prequalified offers across numerous credit products, providing a path to credit through a completely digital application process.”_____________________________________________________________________________ Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Court: Borrower Waived Pre-Foreclosure Right to Meeting

first_img Previous: 7.3% of Active Mortgages Now in Forbearance Next: The Week Ahead: Mortgage Leaders Discuss Pandemic Response Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago In 2019, Bank of America (“BOA” or “the bank”) appealed the involuntary dismissal of its foreclosure action. The lower court dismissed BOA’s action because it found the bank failed to conduct a face-to-face meeting with the borrowers prior to foreclosing as required by 24 C.F.R. § 203.604. Section 203.604 applies to Federal Housing Administration (FHA) backed loans and requires a mortgagee “have a face-to-face interview with the mortgagor or make a reasonable effort to arrange such a meeting, before three full monthly installments due on the mortgage are unpaid.”Below and on appeal, BOA argued it was not required to conduct the face-to-face meeting because after defaulting on the note and mortgage the borrowers demanded “the bank cease all communication” with them. The borrowers also threatened to sue the bank if it contacted them. As a result, “the bank updated its system not to contact the borrowers and did not proceed with the face-to-face interview.”As the basis for not conducting the face-to-face meeting, the bank relied upon § 203.604(c) which includes a list of reasons under which a face-to-face meeting will not be required. Those exceptions are:The mortgagor does not reside in the mortgaged property,The mortgaged property is not within 200 miles of the mortgagee, its servicer, or a branch office of either,The mortgagor has clearly indicated that he will not cooperate in the interview,A repayment plan consistent with the mortgagor’s circumstances is entered into to bring the mortgagor’s account current thus making a meeting unnecessary, and payments thereunder are current, orA reasonable effort to arrange a meeting is unsuccessful.BOA argued the borrowers’ cease and desist letter “…was a clear expression that…[they] would not cooperate with the Bank to conduct a face to face meeting…” and therefore such a meeting was not required under subsection (c)(3) of the rule. The Fourth DCA agreed, concluding “the borrowers’ cease and desist letter [could] ‘only be interpreted as indicia of an unwillingness to commit to such a meeting.’” The court noted this was a novel issue and relied upon the Illinois Appellate Court’s decision in JP Morgan Chase Bank, N.A. v. Moore, in its analysis.The court found the bank’s interpretation of the borrower’s letter was reasonable and that based on the Borrower’s letter, engaging the borrowers in conversation about the face-to-meeting was likely to result in a lawsuit against the Bank. The Court explained any other interpretation of the language in the cease and desist letter would put the Bank in “an untenable situation and would render the regulatory exception meaningless.”The court reversed the involuntary dismissal and remanded the matter to the trial court for further proceedings. This decision provides helpful guidance for application of one of the more subjective exceptions to the requirements of § 203.604 and we anticipate this decision will reduce litigation on the issue. That being said, the effect of COVID-19 on the banks’ pre-foreclosure requirements, including the face-to-face interview, is still to be determined. Court: Borrower Waived Pre-Foreclosure Right to Meeting Home / Commentary / Court: Borrower Waived Pre-Foreclosure Right to Meeting The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Bank of America 2020-05-01 Seth Welborn May 1, 2020 10,056 Views Adam Diaz is the Litigation Partner at Diaz Anselmo Lindberg, P.A. in Ft. Lauderdale, FL. He is AV Rated by Martindale-Hubbell which is the highest peer rating for Ethical Standards and Legal Ability.Adam has concentrated his practice in the areas of mortgage foreclosure and real estate, bankruptcy, consumer protection actions and commercial litigation. He is admitted in all Federal Courts in Florida as well as the United States Court of Appeals for the Eleventh Circuit. Adam Diaz is the Litigation Partner at Diaz Anselmo Lindberg, P.A. in Ft. Lauderdale, FL. He is AV Rated by Martindale-Hubbell which is the highest peer rating for Ethical Standards and Legal Ability.Adam has concentrated his practice in the areas of mortgage foreclosure and real estate, bankruptcy, consumer protection actions and commercial litigation. He is admitted in all Federal Courts in Florida as well as the United States Court of Appeals for the Eleventh Circuit. Related Articles About Author: Adam A. Diazcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 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 Tagged with: Bank of America Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Commentary, Daily Dose, Featured, Foreclosure, News The Best Markets For Residential Property Investors 2 days agolast_img read more

Foreclosure Filings Slowing in 2020

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Chuck Green Foreclosure housing market 2020 2020-07-16 Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago Foreclosure Filings Slowing in 2020 Previous: Hyland Releases PII Compliance Solution Next: HUD Responds to Fair Housing Act Criticisms Subscribe in Daily Dose, Featured, Foreclosure, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Foreclosure filing have sagged to an all-time low in the first six months of the year, according to ATTOM Data Solution’s Midyear 2020 U.S. Foreclosure Market Report.During that period, 65,530 U.S. properties with foreclosure filings, default notices, scheduled auctions, or bank repossessions plummeted 44% from the same time period a year ago. Foreclosure filings were down 54% from the same period two years ago.Among 220 metro areas analyzed in the report—including Stockton, California, which saw a spike of 161%; Chico, California (61%); and McAllen, Texas (42%); Lake Havasu, Arizona (39%); and Fort Wayne, Indiana (21%)—10 deviated from the national trend in light of an uptick in foreclosures contrasted to a year ago.Nationally, the residential foreclosure market continued to contract amid a cocktail of booming housing market conditions predating the current Coronavirus pandemic and a freeze on activity while the country contended with the crisis, said Ohan Antebian, General Manager, RealtyTrac.“Last year, foreclosure starts and completions already were quickly descending, spurred by the housing market and a high-riding economy. Today, as the federal government has banned lenders from pursuing most delinquent loans until at least the end of August 2020 to help people weather the pandemic, they’ve declined to lows unsees for at least 15 years,” Antebian said.In the first half of the year, nationally, 0.12% of all housing units—or one in every 824—had a foreclosure filing. In the first half, Delaware, at 0.28% of housing units, topped the list of foreclosures rates, followed by New Jersey, 0.25%; Illinois, 0.24%; Maryland, 0.21%; and Connecticut, 0.18%.Meantime, of 220 metropolitan areas with a minimum population of 200,000, at 0.37%, Peoria, Illinois headed the pack in the first half of 2020 housing units with foreclosure rates. It was followed by   Trenton, New Jersey, at 0.36%; Rockford, Illinois, 0.36%; Atlantic City, New Jersey, 0.32%; and Lake Havasu, Arizona, 0.30%.In April, Foreclosure Market Report from ATTOM Data Solutions indicated a drop in foreclosures at the outset of the year, with possible sustained low levels over the next few months, according to DS News.In Q1 2020, there was a decline in foreclosure starts, foreclosures timelines, and bank repossessions.Foreclosure activity receded 3% over the year in Q2. During the quarter, disclosure filings impacted 156,253 properties, while foreclosure starts withdrew 11% over the year in Q1. During the course of the same period, there was a 19% drop in average disclosure timeless. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Home / Daily Dose / Foreclosure Filings Slowing in 2020center_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  Print This Post Chuck Green has contributed to the Wall Street Journal, Washington Post, Los Angeles Times, San Francisco Chronicle, Chicago Tribune and others covering various industries, including real estate, business and banking, technology, and sports. Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Foreclosure housing market 2020 Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago July 16, 2020 2,394 Views last_img read more

Experts Express Optimism About Delinquency Rate

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb Previous: Ginnie Mae Reports Record MBS Issuance in April Next: Easing Foreclosure Flood Fears Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CoreLogic releases monthly reports on delinquencies and loan performance for U.S. mortgages. The company on Tuesday published data covering February 2021, which show a nationwide overall delinquency rate at 5.6%, a 2.1 percentage point increase from the previous month.Mortgage loan delinquency data is important to understanding the overall health of the mortgage market, note researchers at CoreLogic, who add that it is not unusual for the delinquency rate to increase after the holidays.“Some families that had overspent during the year-end holiday season, and then faced financial stress in the new year, may slip behind on a mortgage payment by February,” said CoreLogic Chief Economist Frank Nothaft. “During each of the last five years, the 30-day delinquency rate moved higher from January to February. With economic conditions improving, we expect delinquency rates to move lower in coming months.”In its Loan Performance Insights Report, CoreLogic notes that government support throughout the pandemic, and improving employment rates have enabled more borrowers to remain current on their mortgages than would otherwise have occurred.While the overall delinquency inched up in February, the serious delinquency and foreclosure rates continued a sequential monthly decline that began in August, according to CoreLogic President and CEO Frank Martell.”Consumer confidence continues to rise as the economy roars back to life,” Martell said. “These factors bode well for housing fundamentals in 2021 and as far as the eye can see.”Broken down by stages, early (30-59 days) delinquencies sat at 1.5%, down from 1.8% the previous year.The share of mortgages 60 to 89 days past due was 0.5%, down from 0.6% in February 2020.The serious delinquency rate—defined as 90 days or more past due, including loans in foreclosure—was 3.7%, up from 1.2% in February 2020.Due to state and federal foreclosure moratoria still in place, the foreclosure inventory rate remains low at 0.3%, down from 0.4% in February 2020.Every U.S. state and nearly all metro areas logged increases in annual overall delinquency rates in February. Hawaii and Nevada (both up 4 percentage points) again logged the largest annual increase in overall delinquency rates in February, according to the report, which also breaks down delinquencies by state, available at CoreLogic.com.The Consumer Financial Protection Bureau (CFPB) recently has taken several actions to help prevent a wave of foreclosures and to help prepare servicers dealing with record-level delinquency numbers.Said CFPB Acting Director Dave Uejio earlier this month, “More borrowers are behind on their mortgage than at any time since the height of the Great Recession … the latest data show that many borrowers are still hurting. The CFPB will continue to seek and actively respond to developments in the market, doing everything in our power to help families stay in their homes.”One CFPB rule under consideration would temporarily require servicers to enhance communications with borrowers who are delinquent or in forbearance, allow servicers to offer certain streamlined loan modification options to borrowers with COVID-19-related hardships, and require servicers to afford all borrowers a special pre-foreclosure review period. More information is available at consumerfinance.gov. Related Articles 19 days ago 732 Views Servicers Navigate the Post-Pandemic World 2 days ago 2021-05-11 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Experts Express Optimism About Delinquency Rate Share Save Home / Daily Dose / Experts Express Optimism About Delinquency Rate Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

PARC welcomes news that changes to be made to the way GSOC operates

first_img The road safety organisation PARC is welcoming news that changes are being made to the way the Garda Siochana Ombudsman Commission operates.It follows a report from the Oireachtas Justice Committee which makes a number of recommendations which Justice Minister Frances Fitzgerald says she will be implementing.They include bringing the Garda Commissioner under GSOC’s remit, and extending the length of time people have to make a complaintIn February of this year, PARC put in a substanive submission to the Justice Committee, and PARC’s founder Susan Gray says many of their issues have been addressed.She says it’s particularly important that people with concerns about garda investigations into fatal collisions are given time to make their complaint…………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/07/sus1pm.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. PARC welcomes news that changes to be made to the way GSOC operates Three factors driving Donegal housing market – Robinson Help sought in search for missing 27 year old in Letterkenny Facebook 448 new cases of Covid 19 reported today Pinterest Google+ Twitter WhatsApp Guidelines for reopening of hospitality sector published Google+center_img Pinterest By News Highland – July 2, 2014 RELATED ARTICLESMORE FROM AUTHOR Twitter News Facebook WhatsApp Previous articleO’Neill says Keane’s Villa post is a good arrangementNext articleConfirmed that 700 DARD jobs will move to Ballykelly in 2017 News Highland NPHET ‘positive’ on easing restrictions – Donnelly Calls for maternity restrictions to be lifted at LUH last_img read more

NI Appeals court explains reason for calling Daly retrial

first_img Twitter Newsx Adverts Google+ NPHET ‘positive’ on easing restrictions – Donnelly Three factors driving Donegal housing market – Robinson NI Appeals court explains reason for calling Daly retrial Facebook Facebook Help sought in search for missing 27 year old in Letterkenny Pinterest RELATED ARTICLESMORE FROM AUTHOR Google+center_img Pinterest WhatsApp 448 new cases of Covid 19 reported today Previous articleOne man hospitalised and another arrested after Letterkenny altercationNext articleFather of missing Lifford man says clothing found in river belonged to his son News Highland The court of appeal in Belfast has ruled that a judge who found a County Monaghan man liable for the Omagh bombing did not clarify what weight was put on his later conviction for Real IRA membership.Senior judges have set out their reasons for directing a retrial in the case of Seamus Daly, one of the men sued over the atrocity.They also identified an error in the handling of evidence against him.40 year old Daly was one of four men found legally liable for the bombing in June 2009, following a landmark civil action taken by relatives of some victims. Calls for maternity restrictions to be lifted at LUH By News Highland – November 23, 2011 WhatsApp Twitter Guidelines for reopening of hospitality sector publishedlast_img read more