DS News Webcast: Tuesday 6/25/2013

first_img Related Articles Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: DSNews 2013-06-26 DSNews Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Previous: DS News Webcast: Wednesday 6/26/2013 Next: A Growing Number of Markets Are ‘Fully Recovered’ Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Media, Webcasts June 26, 2013 529 Views Home / Featured / DS News Webcast: Tuesday 6/25/2013 Subscribe  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 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 The Best Markets For Residential Property Investors 2 days ago DS News Webcast: Tuesday 6/25/2013 Is Rise in Forbearance Volume Cause for Concern? 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

Ocwen Engages in Community Outreach to Help Distressed Borrowers

first_imgSubscribe Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Tagged with: Home Retention Solutions Loss Mitigation Ocwen Home / Daily Dose / Ocwen Engages in Community Outreach to Help Distressed Borrowers Demand Propels Home Prices Upward 2 days ago August 21, 2015 1,474 Views Ocwen Financial has announced a partnership with several communities and non-profits in order to reach out to assist borrowers who are in need of mortgage assistance and keep them in their homes.The Atlanta-based servicer’s outreach, which is scheduled to take place in 10 cities across California, New York, Illinois, Wisconsin, and Florida, is part of Ocwen’s continued effort to partner with community leaders and non-profit housing organizations to provide solutions to struggling homeowners.”Hardworking homeowners in many neighborhoods across the nation still feel the effects of the 2008 housing crisis,” said Jill Showell, SVP of Government and Community Relations at Ocwen. “By partnering with respected leaders and organizations within these communities, we aim to bring trusted advice to borrowers to help maintain the dream of owning a home.”Ocwen’s home retention agents will be present at the upcoming events to offer free face-to-face individualized advice to help struggling homeowners find the right mortgage solution, according to Ocwen. HUD-approved financial counselors will also be present and will be available for homeowners to meet with them one-on-one.”Hardworking homeowners in many neighborhoods across the nation still feel the effects of the 2008 housing crisis.”Ocwen has scheduled the following events as part of the outreach effort this fall. Homeowners in these areas with Ocwen-serviced mortgage loans are invited to participate and receive information and assistance ranging from a Request for Mortgage Assistance package to information about state and local foreclosure prevention programs:Neighborhood Assistance Corporation of America (NACA), NACA American Dream Event, August 21-25, Ontario, CalforniaNeighborhood Housing Services of New York City, Making Home Affordable Event, August 21, Bronx, New YorkBridge Street Development Corporation, Fresh Start Clinic Ocwen Event, August 22, Brooklyn, New YorkSpanish Coalition for Housing, August 22, Chicago, IllinoisUrban League of Palm Beach County, Preserving Homeownership Clinic, August 22, Wellington, FloridaHope Now, Free Mortgage Help Event, August 27, Milwaukee, WisconsinNACA, NACA American Dream Event, August 28-September 1, Sacramento, CaliforniaReal Estate, Education And Community Housing (REACH), Home Preservation Workshop, September 26, Miami, FloridaNational Association for the Advancement of Colored People (NAACP) New York State Conference, Help and Hope for Homeowners, September 26, Uniondale, New YorkOC Housing Opportunities Collaborative & the City of Irvine (Hardest Hit Fund), Free Keep Your Home California Workshop, October 3, Irvine, CaliforniaOcwen has completed about 520,000 loan modifications nationwide to date, which include 290,000 modifications through the government’s Home Affordable Modification Program (HAMP). The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Loss Mitigation, News The Best Markets For Residential Property Investors 2 days agocenter_img Ocwen Engages in Community Outreach to Help Distressed Borrowers Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Home Retention Solutions Loss Mitigation Ocwen 2015-08-21 Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Previous: Divisiveness of Dodd-Frank is Evident Five Years After Its Passage Next: Ask the Economist: Who Are Strategic Defaulters and How do They Affect the Industry? Related Articleslast_img read more

Positive Pending Homes Sales Data Comes With Caveat

Home / Daily Dose / Positive Pending Homes Sales Data Comes With Caveat Positive Pending Homes Sales Data Comes With Caveat The Best Markets For Residential Property Investors 2 days ago  Print This Post About Author: Xhevrije West Data Provider Black Knight to Acquire Top of Mind 2 days ago Existing-home sales suffered last month due to the continuous imbalance of extremely low inventory levels and rapid home price appreciation.The NAR reported that existing-home sales decreased 7.1 percent to a seasonally adjusted annual rate of 5.08 million in February from 5.47 million in January. However, the report noted that despite last month’s large decline, sales remain 2.2 percent higher than a year ago. Existing-home sales do not appear to be slowing down home prices appreciation. According to the NAR, the median existing-home price in February was $210,800, up 4.4 percent from last February’s median price of $201,900. This marks the 48th consecutive month of year-over-year gains.”Any further moderation in prices would be a welcome development this spring,” Yun stated. “Particularly in the West, where it appears a segment of would-be buyers are becoming wary of high asking prices and stiff competition.”The NAR expects existing-homes sales this year to be around 5.38 million, up 2.4 percent from 2015. The national median existing-home price for all of this year is expected to increase between 4 and 5 percent.Chief Economist of Realtor.com, Jonathan Smoke noted, “Low inventories and tight credit will limit the gains we will see in 2016. However, given the level of pent-up demand evident in web activity and stated buyer intentions for 2016, we should see this spring materialize as the busiest season of sales since 2006.”Click here to view the full pending home sales report released Monday. Previous: Digging Deeper Into the Declining Homeownership Rate Next: DS News Webcast: Tuesday 3/29/2016 Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save Related Articles Mortgage contract signings began 2016 on a low note, falling to their lowest level in a year after hitting its highest average year in nearly a decade due to two pressing factors that are keeping buyers out of the market: inventory and home prices.However, despite the rough start to the year, pending home sales recently rose to their highest level in seven months and are still higher than a year ago.The National Association of Realtors (NAR) reported Monday that its Pending Home Sales Index rose 3.5 percent to 109.1 in February from a downwardly revised 105.4 in January and is now up 0.7 percent from 108.3 in February 2015.The NAR noted that although the index has now increased year-over-year for 18 consecutive months, the annual gain last month was the smallest.NAR Chief Economist Lawrence Yun said, “After some volatility this winter, the latest data is encouraging in that a decent number of buyers signed contracts last month, lured by mortgage rates dipping to their lowest levels in nearly a year and a modest, seasonal uptick in inventory. Looking ahead, the key for sustained momentum and more sales than last spring is a continuous stream of new listings quickly replacing what’s being scooped up by a growing pool of buyers. Without adequate supply, sales will likely plateau.”Collingwood Managing Director Thomas Cronin said of the pending home sales report, “It seems that the key here, is the fact that this is the 18th straight month of improvement. Yes, we could use more supply, yes, we could use more new construction at the lower end yes, we would like rates to remain low. But at the end of the day, this has been a solid performance.”Ten-X Chief Marketing Officer Rick Sharga was among the housing experts who were more cautious about celebrating the pending home sales report or calling it a comeback, saying “The year-over-year number is the one to pay attention to. Last year, March home sales fell,off dramatically after a very strong February. With pending home sales up a scant 0.7 percent from last year, it seems like March existing home sales may not give us much to get excited about.”Sharga continued, “The dramatic increase in pending home sales from January to February probably has more to do with January numbers being extremely low (and revised downward for this report), and some delays in contract execution due to bad weather in the Northeast and Midwest, which both had significant month-over-month gains.”Source: National Association of Home Builders Demand Propels Home Prices Upward 2 days ago 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. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Housing Inventory Housing Supply National Association of Realtors Pending Home Sales Ten-X Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Housing Inventory Housing Supply National Association of Realtors Pending Home Sales Ten-X 2016-03-28 Brian Honea March 28, 2016 9,486 Views Subscribe read more

OCC Expands Banking Charters to FinTechs

first_img Financial technology (FinTech) companies may soon have the opportunity to become full-fledged national banks, as regulators flesh out regulation from December 2016 which will allow Fin Techs to apply for special national bank charters. The Office of the Comptroller of the Currency released a draft supplement on Wednesday, which adds additional info to the existing Licensing Manual.According to the draft, a special national bank “means a national bank that engages in a limited range of banking activities, including one of the core banking functions described at 12 CFR 5.20(e)(1), but does not take deposits within the meaning of the Federal Deposit Insurance Act and therefore is not insured by the Federal Deposit Insurance Corporation.”The guiding principles of the draft are in line with the principles published in March 2016. The supplement aims to apply the licensing standards and requirements in existing regulations and policies to fintech companies applying for special purpose national bank charters. As long as a fintech company meets these standards, it may be considered for a special national bank charter.Law360 notes that the guidelines stated by the OCC will not allow for FinTech charters to be awarded to companies like Amazon.com Inc or Apple Inc which could seek to expand their financial offerings. Fintech firms must meet consumer protection, capital, financial inclusion and other standards to win charters.“For example, proposals to provide financial products and services that have predatory, unfair, or deceptive features or that pose undue risk to consumer protection, compliance, or safety and soundness would be inconsistent with the OCC’s chartering standards and will not be approved,” the draft guidelines say.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Technology The Best Markets For Residential Property Investors 2 days ago About Author: Staff Writer Previous: Trump Determines the Future of HUD Next: Goldman Sachs Keeps Buying Fannie Mae Loans, Why? The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Home / Daily Dose / OCC Expands Banking Charters to FinTechs Related Articles Servicers Navigate the Post-Pandemic World 2 days ago March 16, 2017 1,231 Views The Best Markets For Residential Property Investors 2 days ago Subscribe FinTech OCC 2017-03-16 Staff Writer Sign up for DS News Daily OCC Expands Banking Charters to FinTechs Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: FinTech OCClast_img read more

Innovation: Not Just For the Customer

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Innovation 2017-07-24 Sandeep Hinduja The Best Markets For Residential Property Investors 2 days ago Innovation: Not Just For the Customer Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Innovation in the mortgage space is advancing at a rapid rate and playing a fundamental role in transforming the customer experience. No doubt, it is critical to solve for the customer experience as it can lead to greater returns, better customer engagement, and productivity gains. Innovations, such as web-portals and apps, have already accelerated production efficiency by enabling the borrower for self-service. If front-end innovations are driving back-office efficiencies, then we must allow ourselves to imagine the behind-the-scenes impact that operational innovation will have on customer experience transformation. Beyond customer experience, innovating for the sake of your operation is also worthwhile; operational innovation done right can accelerate timelines, simplify processes, improve origination quality, engage your employees, and reduce costs.By taking a broader view of the role innovation plays in the mortgage industry, lenders will be able rethink how lending is done and create new processes, tools, and technologies. Here are four reasons to bring your organization along for the innovation ride:Process Simplification If you’ve been working in the mortgage industry for a long time—or for just a single day—you already know that the business of originating loans isn’t exactly simple. It is often complicated by regulation, data, documents, and timelines.Innovating new ways to simplify and accelerate some of the more cumbersome processes is one of the biggest opportunities for the mortgage industry. While there have been significant reductions in days-to-close and noteworthy advancements in process automation, there are still ample opportunities for improvement around process simplification, hyper-automation, robotics, and artificial intelligence. Until originating a mortgage is as easy as originating an auto loan, the mortgage industry must continue to aggressively seek out opportunities to simplify back-office processes within the mortgage value chain. Innovation for Supply Chain OptimizationThe mortgage industry has an incredible ecosystem of businesses, partnerships, and third-party service providers. These providers often contribute niche expertise on a specific aspect of the mortgage value chain. However, unless lenders are integrating quickly and seamlessly with their providers, there will always be opportunities for innovation. Luckily, innovation to streamline the mortgage industry supply chain is already taking place. Plug and play APIs are rapidly becoming the new way for loan origination technology platforms to enable lenders to easily add and remove new services to ensure they remain competitive in the emerging mortgage market. In addition, more lenders are implementing collaboration tools to ensure complete visibility into its service providers’ involvement including greater coordination for appraisals, title and closing, better reporting and metrics, and faster time-to-close. A streamlined supply chain translates to greater cost-savings, faster cycle times, fewer set-backs, and customer happiness.Innovation for Customer Analysis & Underwriting Underwriting has certainly evolved over time, but the opportunity for even greater change is still ahead. Significant advancements in technology and social media—most notably, big data—are set to change the game. Unstructured data and data derived from previously unmined sources such as social networks, e-commerce and buying patterns, business and banking data, PDF document extraction (OCR), electronic devices, and the internet of things (IOT) present a significant opportunity to accelerate underwriting and improve accuracy. The application of big data and analytics for risk analysis will enable lenders to project forward the performance of a loan by gauging borrower behavior and the ability to pay over a long-term period. Moreover, big data innovations that will improve access to data will eliminate long wait times for information and help lenders tailor their solutions and processes to meet a unique borrower profile. There is no limit to the benefits of big data, but the main ones include precision in underwriting, fast turn times, delivery of tailored products and processes, and ultimately greater profitability.Employee engagementBy redefining “customer” to include internal stakeholders and employees, lenders will be able to improve overall staff engagement and enthusiasm, which will ultimately improve customer service and drive productivity for the lender. As lenders move forward in selecting technology and tools or innovating new approaches, it is critical to keep in mind how the innovation will impact the person doing the work. Will adopting a new web portal or mobile app require them to manage multiple disparate platforms or will it integrate seamlessly? As the millennial generation is entering the workforce in droves, lenders with a modern tech-driven origination approach will successfully attract and retain new talent while driving the type of excitement that will lead to new contributions and innovations.As customer facing technologies and fintech solutions gain popularity, it is important that the mortgage industry recognize the need for balance. There is a symbiotic relationship between operational innovation and customer innovation. By broadening our perspective and identifying the impact that back-office innovations can have on the customer experience and vice versa, the mortgage industry will be able to connect more dots and create more connections so that one innovation will inspire another, ultimately shaping a new mortgage landscape. About Author: Sandeep Hinduja in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Subscribecenter_img Home / Daily Dose / Innovation: Not Just For the Customer  Print This Post Sandeep Hinduja is a director at Wipro Gallagher Solutions, a Wipro Limited company offering end-to-end technology products and services for retail, wholesale, correspondent, and consumer lenders. Sandeep has more than 16 years of experience developing product growth strategy and consulting with clients. Previous: The Big 5: The Best Cities to Live In Next: Changes in Leadership to the OCC Tagged with: Innovation Related Articles 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago July 24, 2017 1,456 Views last_img read more

Affordability Issues Not Sparing Current Homeowners

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Journal, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Reverse Mortgage-Backed Securities: Good News and Bad News Next: Where Are Homebuyers Headed? Demand Propels Home Prices Upward 2 days ago It’s no secret that the one-two punch of rising home prices and limited housing inventory has been making life difficult for would-be first-time homebuyers in markets around the country. However, a new consumer survey finds that it’s not just the first-timers who are feeling the effects.According to ValueInsured’s Q1 2018 Modern Homebuyer Survey, 62 percent of interested first-time homebuyers planning to purchase a home in “the near future” stated that they worry they won’t be able to afford the down payment for the homes they are seeking. When it comes to millennial first-time homebuyers, that percentage increases slightly to 65 percent. But what about current homeowners who are looking to sell and find someplace new?ValueInsured’s survey found that 22 percent of all existing homeowners shared the same concern that they wouldn’t be able to afford the down payment on a new home—even after selling their current home. For homeowners aged 65 and older, the number increases to 28 percent, and it hits 36 percent for homeowners in rural areas. Owners of starter-priced homes are even more concerned, with 43 percent of those surveyed expressing concerns about being able to afford a new home after selling their current residence.For ValueInsured’s purposes, starter-priced homes are defined as those the owners believe to be valued at less than $150k. For homeowners whose residences are valued at between $150k and $250k, that percentage stands at 25 percent of those surveyed.Dialing the focus in tighter, ValueInsured reports that 27 percent of all surveyed millennial homeowners in the highly competitive Seattle market expressed doubts that they would be able to afford a down payment on a new home after selling their current one. For Generation X homeowners, the number is 26 percent.According to the most recent First American Real Home Price Index, home prices increased by 2.9 percent in February. However, First American reported that homes became 5.1 percent more expensive compared to the same period last year, even as consumer house-buying power, how much one can buy based on changes in income and interest rates, declined 2.6 percent in February.As reported recently by Unison, a homeownership investment firm, in the Los Angeles metro it would take 19 years for a resident earning the median salary to save enough for a 10 percent down payment on a median-priced home. In the San Diego metro, residents would need to save for 16 years to put 10 percent down on a median-priced home in the market. There are, of course, more affordable markets out there. In the Detroit-Warren-Dearborn metro, homebuyers need to earn a salary of only $35,909 to purchase a median-priced home with a 10-percent down payment. Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton Affordability Barriers to Homeownership First-Time Homebuyers Generation X Home Prices Homebuyers Homeowners inventory shortages Millennial Homebuyers Millennials valueinsured 2018-05-02 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 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  Print This Post Tagged with: Affordability Barriers to Homeownership First-Time Homebuyers Generation X Home Prices Homebuyers Homeowners inventory shortages Millennial Homebuyers Millennials valueinsuredcenter_img 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] Affordability Issues Not Sparing Current Homeowners Share Save May 2, 2018 1,881 Views Related Articles Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Daily Dose / Affordability Issues Not Sparing Current Homeownerslast_img read more

A Snapshot of the Housing Market in 2019

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: New Jersey Aims to Help Homeowners Facing Foreclosure Next: Economy Gets an Upgrade, Despite Housing Drag A Snapshot of the Housing Market in 2019 in Daily Dose, Featured, Market Studies, News August 15, 2018 5,939 Views Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago The headwinds that troubled the housing market for most of the first half of 2018 are likely to continue into the third quarter, according to an analysis by Metrostudy.During a webcast on Wednesday, Mark Boud, Chief Economist at Metrostudy gave an overview on the state of the housing market in Q3 and beyond.Speaking of the rising impact of tariffs on the construction industry, Boud said that the rising tariffs were leading to increasing in construction timelines. “Overall trade used to be about 10 percent of GDP, but now it is closer to 30 percent so over the decade the impact of trade and the impact of tariffs on trade tend to increase as our reliance on trade increases. A lot of these tariffs were directed towards the construction industry,” Boyd said. “Tariffs hurt the economy, especially the new home industry.”Outlining macro trends that were already impacting or likely to impact the housing industry, Boud said that while tax reform had hurt some of the high priced markets, rising inflation was another concern that was likely to slow economic growth. However, he pointed out to the strong jobs data that remained solid in August and said that was likely to continue through the year.’While he predicted that national debt would slow economic growth, Boud said, “Rising mortgage rates are just beginning and inflationary pressures are slowly building. Overall we are in the bottom of the seventh inning of a challenging and rewarding housing market in an environment of under supply and increasing costs.”Giving the current comparison between housing inventory and annual closings by price range, Boud said that the overall percentage share of housing inventory was far below closings in percentage terms at all price ranges below $200,000. “As soon as it hits $400,000 the inventory is increasing and especially in the $800,000 range it far outstrips the closing,” Boud said.Some of the other factors, that he predicted would impact housing in the coming months also included the fact that the national housing market would become increasingly overvalued. However, “the risk of a price collapse is small due to under supply,” Boud projected. “The surge in remodeling/renovation will continue.”Click here to view the complete recording of the webinar. The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Home / Daily Dose / A Snapshot of the Housing Market in 2019center_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Constructions Demand Homes HOUSING Housing Market Inventory Metrostudy Supply tariffs 2018-08-15 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Share 1Save Tagged with: Constructions Demand Homes HOUSING Housing Market Inventory Metrostudy Supply tariffs The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 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. Subscribelast_img read more

What’s Causing an Uptick in Foreclosure Starts?

first_img Share 1Save  Print This Post Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Foreclosure, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe About Author: Alison Rich The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago August 23, 2018 3,482 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days agocenter_img Previous: Loan Denial Rates and Credit Scores Next: If Confirmed, Here’s How Kraninger Plans to Run the Bureau Servicers Navigate the Post-Pandemic World 2 days ago As mortgages that went delinquent because of last year’s catastrophic hurricanes continued to cure, the U.S. delinquency rate plummeted to its lowest point since March 2006, according to Black Knight’s First Look for July, which parses monthly mortgage performance data for foreclosures and delinquencies.Simultaneous to that, foreclosure starts ticked up 11 percent over June’s dramatic 17-year low to hit 48,300—the highest amount reached in three months, Black Knight noted in its report. Although starts increased across the nation, foreclosure referrals in the hurricane-affected zones in Texas galloped by a higher-than-average 19 percent.The upswing in starts coupled with fewer foreclosure completions led to the number of loans in active foreclosure climbing in July—albeit, the second monthly rise in three years, the report indicated. That said, the delinquency decrease was robust enough to outweigh the rise in active foreclosures, bringing total noncurrent inventory (30-plus days past due or in foreclosure) down to a more-than-12-year low, it noted.The top five states ranked by non-current percentages in July were Mississippi at 9.61 percent; Louisiana (7.78 percent); Alabama (6.62 percent); West Virginia (6.36 percent); and Indiana (5.85 percent).As for the bottom five states in order of non-current percentages, Washington led the list with 2.31 percent of its total active loans in foreclosure or delinquency followed by North Dakota (2.29 percent);  Idaho (2.25 percent); Oregon (2.13 percent); and Colorado (1.91 percent).The top five States by 90-plus days delinquent percentages were led by Mississippi where 2.89 percent of loans were found delinquent followed by Louisiana (2.09 percent); Alabama (1.91 percent); Florida (1.79 percent); and Arkansas (1.64 percent).According to the report, the top five states classified by six-month improvement in non-current percentage were Florida (37.2 percent); Texas (23.77 percent); Louisiana (16.68 percent); Rhode Island (15.3 percent); and Nevada (14.26 percent).The top five states in terms of six-month deterioration in a non-current position were led by North Dakota (3.22 percent); Colorado (7.15 percent); Washington (7.45 percent); Delaware (8.14 percent); and Alaska (8.51 percent). Sign up for DS News Daily Home / Daily Dose / What’s Causing an Uptick in Foreclosure Starts? The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Black Knight Delinquency Foreclosures mortgage 2018-08-23 Alison Rich Tagged with: Black Knight Delinquency Foreclosures mortgage Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. What’s Causing an Uptick in Foreclosure Starts? Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Freedom Mortgage and RoundPoint Announce Merger

first_img Tagged with: freedom mortgage Mergers Roundpoint RoundPoint Mortgage Servicing The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton May 24, 2019 1,710 Views  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago freedom mortgage Mergers Roundpoint RoundPoint Mortgage Servicing 2019-05-24 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 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] Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / Freedom Mortgage and RoundPoint Announce Merger Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Journal, News, Servicing Related Articles Freedom Mortgage and RoundPoint Announce Merger Data Provider Black Knight to Acquire Top of Mind 2 days ago New Jersey-based Freedom Mortgage Corporation and RoundPoint Mortgage Servicing Corporation announced they have entered into a merger agreement in which RoundPoint will become a wholly owned subsidiary of Freedom Mortgage.Founded in 2007, RoundPoint currently services and subservices approximately $91 billion in unpaid mortgage assets comprised primarily of agency loans. RoundPoint also originates loans through its loan officers and its correspondent program. The transaction is subject to customary closing conditions and certain regulatory approvals and is expected to close in Q3 or Q4 2019.Following the merger, Freedom Mortgage’s combined owned and subserviced mortgage servicing rights (MSR) portfolio is expected to be in excess of $300 billion. The merger also provides Freedom Mortgage with an active subservicing platform and broadens the scope of the company’s co-issue origination network.”This merger will create a much larger and stronger organization with significant synergies,” said RoundPoint CEO Kevin Brungardt. “RoundPoint will benefit operationally in many ways, including having access to Freedom Mortgage’s substantial origination platform. With the combination of servicing portfolios, the merger makes the company the seventh largest U.S. mortgage servicer nationwide.””I am pleased to welcome RoundPoint’s highly successful and professional team to the Freedom family,” said Stan Middleman, CEO of Freedom Mortgage. “We very much appreciate the hard work by everyone involved in making this merger happen, and look forward to working together.”Goldman Sachs & Co. LLC served as financial advisor to RoundPoint and Sidley Austin LLP served as legal counsel. Classic Strategies Group served as financial advisor to Freedom Mortgage and Zuckerman Gore Brandeis & Crossman LLP served as legal counsel.Freedom Mortgage is a non-bank, full-service mortgage company that provides mortgage loan servicing and originations through retail, wholesale, and correspondent channels. The nation’s fifth largest mortgage provider, licensed in all 50 states, Freedom Mortgage was founded in 1990 and is headquartered in Mount Laurel, New Jersey.Founded in 2007, RoundPoint Mortgage Servicing Corporation is a leading, national co-issue servicer, loan subservicer, and residential mortgage lender. As one of the nation’s largest non-bank mortgage servicers, it currently services over $90 billion worth of mortgage assets and is authorized to service loans in all 50 states, the District of Columbia, and the U.S. Virgin Islands. The company is headquartered in Charlotte with an office in Dallas. Previous: Were Homebuyers Affected by New Tax Codes? Next: $19.1B Disaster Relief Bill Stalls in House Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Subscribelast_img read more

Affordability Increases on the West Coast

first_img Related Articles Share 1Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn 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. Affordability First American 2019-06-24 Seth Welborn  Print This Post Affordability Increases on the West Coast Real home prices, or home prices adjusted for the impact of income and interest rate changes on consumer house-buying power over time, decreased 0.9% month over month in April 2019, and 0.72% year over year, according to the latest First American Real House Price Index (RHPI). First American took a look at how changes in the RHPI impacted affordability across the country.“Two of the three key drivers of the Real House Price Index (RHPI), household income and mortgage rates, swung in favor of increased affordability in April. The 30-year, fixed-rate mortgage fell by 0.33 percentage points and household income increased 2.7% compared to April 2018,” said Mark Fleming, Chief Economist at First American. “When household income rises, consumer house-buying power increases. Declining mortgage rates have a similar impact on affordability, so in April home buyers received a double shot of house-buying power to jolt affordability in their favor nationally.”Affordability increased the most on the West Coast, according to First American. San Jose, California’s affordability increased the most, up by 6.9% due to the decline in mortgage rates, with a 2.9% increase in household income compared with a year ago, Fleming notes.First American’s top five cities by increases in affordability were:San Jose, Calif.SeattlePortland, Ore.San FranciscoLos Angeles“Declining mortgage rates increase affordability equally in each market as mortgage rates are generally the same across the country. However, household income growth and nominal house prices vary by market, so the affordability dynamic varies as well,” said Fleming. “In fact, one reason why these markets have seen such strong gains in affordability is because household income growth was so strong. In the top four markets, household income growth exceeded house price growth. That’s an affordability boost even without the help of falling rates.”Several of the cities with highest increase in the RHPI were on the East Coast. First American’s top five cities by RHPI increase were Providence, R.I. (+5.9%), Las Vegas (+5.2%), Salt Lake City (+4.4%), Orlando, Fla. (+3.9%), and Atlanta (+3.7%).By state, Wisconsin saw the highest increase in the RHPI, up by 4.7%. Other states with high RHPI increases year over year include Rhode Island (+4.3%), New Hampshire (+3.5%), Georgia (+2.8%), and Ohio (+2.4%). Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Affordability Increases on the West Coast Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Previous: President Trump Comments on Fed’s Interest Rate Stance Next: Housing Loans and “DREAMers” The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News June 24, 2019 1,183 Views Tagged with: Affordability First American Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Subscribelast_img read more