Lowest Home Appreciation in the U.S.

first_img Denver seattle Veros 2017-06-28 Joey Pizzolato Servicers Navigate the Post-Pandemic World 2 days ago Lowest Home Appreciation in the U.S. Home / Daily Dose / Lowest Home Appreciation in the U.S. Share Save June 28, 2017 1,464 Views Related Articles Tagged with: Denver seattle Veros Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Headlines, Loss Mitigation, Newscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Joey Pizzolato Certain markets in the West will continue to appreciate at double digit rates over the next year, while markets in the Northeast show the least promising forecast, according to Veros Real Estate Solutions’ Q2 VeroFORECAST report, which measures predicted home appreciation on a yearly scale. The metro that they predict will see the highest home price appreciation is—no surprise—Seattle, Washington, with an estimated 11.1 percent increase. The Denver metro is a close second, with 10.3 percent increase home appreciation. VeroFORECAST lists population growth and low unemployment—Seattle boasts an unemployment rate of 3.7 percent, compared to the national average of 4.3 percent, and Denver’s rate is as low as 2.1 percent—as major contributing factors to the rapid rate home appreciation. However, home appreciation does have its downsid e for would-be homeowners in that inventory is way down. It is estimated that Seattle has about a 1.0 month supply of homes available at the current closing rate, and Denver doesn’t look much better, at a 1.1 month supply. “As job growth continues to drive migration to the top markets, we will continue to see tight home supplies, causing a heightened housing demand which as we know will cause home affordability to suffer in these areas,” said Eric Fox, VP of Statistical and Economic Modeling at Veros. Of the top 25 markets showing signs of increased home appreciation, 18 metros are located in western states, including Colorado, Washington, Oregon, Arizona, Utah, and Idaho. Only five reside in Florida. Previously hot markets, such as Austin, Texas, are expected to cool. Austin once showed double digit appreciation, but now is only expected to appreciate at a rate of around 6 percent. Conversely, the Northeast shows the largest cluster of depreciating home values—New Jersey, New York, Connecticut, Pennsylvania, Ohio, and West Virginia among the worst of the lot. The bottom 15 worst markets all show negative appreciation, while 15 to 25 show less than a 1 percent appreciation rate. VeroFORECAST contributes low and negative appreciation values to consistent population decline. Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 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] Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Subscribe The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Banking and Housing Lobby Petitions for CFPB Structural Changes Next: Where There’s Smoking Demand, There’s Defect Risk Firelast_img read more

Dear HUD; Love, Senators

first_img Previous: The Hope of High Tech Next: NCUA: Different Roles, Different Oversight About Author: Brianna Gilpin Data Provider Black Knight to Acquire Top of Mind 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 Servicers Navigate the Post-Pandemic World 2 days ago Ben Carson HUD LGBTQ 2017-07-06 Brianna Gilpin  Print This Post Demand Propels Home Prices Upward 2 days ago Dear HUD; Love, Senators Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Ben Carson HUD LGBTQ Home / Daily Dose / Dear HUD; Love, Senatorscenter_img Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago July 6, 2017 1,290 Views in Daily Dose, Featured, Government, Headlines, News In a letter to Secretary Ben Carson, U.S. Senator Catherine Cortez Masto (D-Nev.) along with 28 U.S. senators advocated that the resources protecting LGBTQ people from housing discrimination need to be reinstated after their recent removal from HUD’s website.“It is concerning that HUD apparently removed these tools from its website, which are meant to assist grantees in meeting their underlying obligations under the law,” the senators wrote in the letter. “Without these training resources, housing service providers will face additional challenges in trying to understand how best to meet the needs of their clients. The guidance resources that were withdrawn or removed are critical to ensuring nondiscrimination rules are fully and faithfully implemented.”According to the letter, to percent of all youth experiencing homelessness are LGBTQ and one in three transgender people report having experienced homelessness at some point in their lives. A study also found that only 30 percent of shelters were willing to properly accommodate transgender women. This is concerning to the senators because HUD has withdrawn a proposed policy that would require emergency shelters funded by HUD to hang a poster alerting residents of their right to be free from anti-LGBTQ discrimination and a proposed survey evaluating the impact of the LGBTQ Youth Homelessness Prevention Initiative.Additionally, the senators explained that HUD has removed four items from their website. A guide instructing HUD grantees on how to ensure equal access for transgender people, a self-assessment tool that allows shelters to evaluate how well they are doing in ensuring compliance with anti-discrimination regulations and best practices, a “decision tree” guiding shelters on how well their engagement, assessment, referral, enrollment, bed assignment, and ongoing service provision practices were providing equal access to LGBTQ people, and training scenarios that help instruct providers on how to best deal with real-life situations that may arise in a manner that ensures equal protection.The letter cited a quote from Carson at a House and Senate hearing when he said, “the only reason that [HUD] would remove anything is to look at it and determine whether it is effective” and that HUD “want[s] to make decisions based on real evidence and facts.” Based on that quote, the senators are asking Carson to, “review the actions and describe precisely what evidence and facts justify these actions, and act promptly to restore resources to HUD’s website guiding providers on how to fulfill their nondiscrimination requirements under law.” Sign up for DS News Daily Subscribelast_img read more

Collingwood Announces New Managing Director

first_imgSign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Collingwood Announces New Managing Director Tagged with: The Collingwood Group Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] About Author: Brianna Gilpin Related Articles Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Collingwood Announces New Managing Director Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Collingwood Group 2017-07-07 Brianna Gilpin July 7, 2017 1,409 Views center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Collingwood Group, a Washington, DC-based advisory firm led by the former head of FHA, recently announced along with its partners who have held senior leadership positions focused on housing policy and regulation in HUD, Fannie Mae, and Freddie Mac, that Justin Burch will be joining the company as Managing Director and head of the Federal Housing Practice.Prior to the announcement, Burch lead FHA’s quality assurance and counterparty risk management activities, including compliance evaluation of origination, underwriting, and servicing practices, lender examinations, and management of FHA’s Credit Watch Initiative. Recently deployed with the introduction of the new FHA Loan Review System, Burch also was a key stakeholder in the development and implementation of FHA’s Loan Quality Assessment Methodology.“Justin’s extensive experience as an integral part of FHA and Ginnie Mae, coupled with his unique insight and understanding of the operations and risk management and compliance strategy of both organizations, will offer our clients a unique perspective on many of the most pressing business issues in housing finance today,” said Brian O’Reilly, President of The Collingwood Group.Serving as a critical voice for FHA, Burch presented at numerous industry events and interacted with the lending community. He was active in broader federal housing policy discussions as a member of the Joint Federal Housing Agency working group composed of leadership from the CFPB, Ginnie Mae, FHFA, FHA, the VA Loan Guaranty Service, and Rural Development. Before FHA, Burch worked as a Senior Risk Analyst for Ginnie Mae where his responsibilities included issuer performance evaluations and monitoring of a $520 billion portfolio of mortgage-backed securities, and was principal architect behind the development of the Finnie Mae HMBS program, enabling reverse mortgage lenders the opportunity to securitize FHA Home Equity Conversion Mortgages.“I am excited to join such a progressive organization. The partnership between Collingwood and Situs presents a unique platform to explore growth opportunities in the commercial and residential real estate market. I look forward to joining the team,” said Burch. 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 Previous: Carrington Charitable Foundation Inaugural Gala Supports Veterans Next: Arch Capital Group Announces Acquisition of AIG United Guaranty Insurance The Best Markets For Residential Property Investors 2 days ago  Print This Post Share Save in Daily Dose, Featured, Headlines, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Gathering of Mortgage Industry Professionals Comes to a Close

first_imgHome / Daily Dose / Gathering of Mortgage Industry Professionals Comes to a Close Share Save Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured Gathering of Mortgage Industry Professionals Comes to a Close  Print This Post As another Five Star Conference has come to a close, the industry reflects upon the opportunities that engagement and learning the previous days have afforded.Insights were delivered during the Five Star Conference Academic Labs, which provided opportunities of edification, as professionals came together to offer solutions for the issues that the industry faces through brainstorming of the brightest minds.These sessions included honest discussion and dialogue, along with opportunities for attendees to ask questions and gain answers that have a meaningful effect on their businesses.On Tuesday, the Foreclosure Lab commenced as industry experts identified advances in technology and process efficiency designed to expertly manage the foreclosure and bankruptcy process.Compliance is a top priority for mortgage industry professionals, and this Academic Lab focused on effective servicing operations as this year brought new changes to both policy and regulatory oversight.It has been a transformational year across mortgage servicing, especially when it comes to the challenges the industry is facing with the aftermath of several recent natural disasters. This Lab brought together mortgage servicing organizations, along with officials from the federal government to discuss implementation, best practices, and adjustments to a continually changing industry.Robert Klein, Founder and Chairman of SecureView and Safeguard Properties said the academic labs provide a continuation of education to discuss these issues. In addition, the recent hurricanes discussed to provide insight into the different challenges the industry faces when recovering.“I was involved years ago hands-on with Hurricane Katrina, which was the first disaster hurricane, one that the industry had never ever experienced anything close to it,” Klein said. “And all these issues came up and we dealt with it, but when it comes to Harvey and Irma, it’s a whole other level.”During the Property Management Lab, policies and procedures mandated by the GSE’s to private investor requirements, the practitioners who ensure that the nation’s communities are maintained must be equipped with an understanding of current practices.On Wednesday, the Investment Lab talked acquisition and disposition opportunities across real-estate, focusing on providing investors with information necessary to make informed decisions that point toward capitalizing on the value found in today’s marketplace.The final lab was the REO Lab, which focused on the current state of today’s market and the challenges for agents, asset managers, investors, and servicing professionals while providing prospective solutions.The opportunity for the mortgage industry as a whole to gather in one place is vital to the continued success and progress of the industry, and could not be accomplished without the dedication of so many committed professionals.The Five Star Institute looks forward to another year of progress, collaboration, and service within the mortgage industry. Demand Propels Home Prices Upward 2 days ago Tagged with: Five Star Conference HOUSING mortgage Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles September 21, 2017 1,205 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: CFPB: Final Ruling on Home Mortgage Disclosure Act Next: Is the CFPB’s Regulatory Power Limited? Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Five Star Conference HOUSING mortgage 2017-09-21 Joey Pizzolato Sign up for DS News Daily About Author: Joey Pizzolato Demand Propels Home Prices Upward 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] Subscribelast_img read more

The Most Prosperous City in America Is …

first_img Picking the most prosperous city in America is a weighty task. What factors should be considered, and how should each be weighted against the others? However you arrange the calculations, there’s a good chance you wouldn’t have settled on Odessa, Texas, as the most prosperous city in the nation, but that’s exactly what a new study by RENTCafe has determined.First, a bit of methodology. RENTCafe began by narrowing things down to cities with populations exceeding 100,000. From there, RENTCafe examined U.S. Census data between 2000-2016, examining the evolution of six indicators during that time, including population, median income, home values, share of inhabitants holding a higher education degree, poverty rate and unemployment rate. From there, RENTCafe compiled a “prosperity ranking” that is “based on the combined value of the individual ranks obtained in these six fields.”So, how did Odessa—the 28th most populous city in Texas, as of 2015 and 2016 census data—land atop the pile? Well, it may lag far behind larger cities in terms of population, but that population has grown by 25 percent during the 2000-2016 window examined by RENTCafe. During that same period, Odessa experienced income growth of 38 percent, home value increase of 91 percent, and a 26 percent increase in the share of its population who hold a bachelor’s degree or higher. Odessa has also seen a pair of important decreases—the poverty rate has dropped by 36 percent and unemployment has decreased by 24 percent. RENTCafe also points out that U.S. crude oil production also spiked by 50 percent during that window of time, likely helping to explain why a west Texas oil town like Odessa has been booming.Filling out the rest of RENTCafe’s top 10 most prosperous U.S. cities are, in order, Washington, D.C.; Charleston, South Carolina; Fontana, California; North Charleston, South Carolina; Jersey City, New Jersey; Pearland, Texas; Miami, Florida; Brownsville, Texas; and Midland, Texas.Texas was particularly well represented on the list, with six of the top 20 cities on the list located within the Lone Star State. That puts it one ahead of California.Eleven cities in the study showed positive change across all six of RENTCafe’s prosperity indicators: Odessa, Texas; Washington, D.C.; Charleston, South Carolina; Brownsville, Texas; Midland, Texas; New York, New York; Los Angeles, California; Billings, Montana; Long Beach, California; Atlanta, Georgia; and Corpus Christi, Texas. 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] May 21, 2018 4,653 Views Share Save Previous: How Much Will Generation Z Pay in Lifetime Rent? Next: Homeowners and Buyers More in Sync The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Tagged with: Education Home Values Income Growth most prosperous cities Population Growth poverty rate RENTCafe Unemployment Rate Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Education Home Values Income Growth most prosperous cities Population Growth poverty rate RENTCafe Unemployment Rate 2018-05-21 David Whartoncenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Most Prosperous City in America Is … Demand Propels Home Prices Upward 2 days ago Related Articles Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Most Prosperous City in America Is … About Author: David Wharton Demand Propels Home Prices Upward 2 days ago  Print This Post Subscribelast_img read more

All About Policy and Prices in Housing

first_img 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. in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago There’s a lot happening in the housing market and a recent American Enterprise Institute (AEI) podcast touched upon all those aspects that are currently impacting homebuyers as well as the larger market. Lynn Fisher, Resident Scholar and Co-director of AEI’s Center on Housing Markets and Finance discussed affordable housing and the current state of the markets spoke with AEI’s Spencer Moore and Cecilia Gallogly about the market risks and the affordability crisis plaguing potential homebuyers.”Home prices are exceeding the rate of wage growth,” Fisher said while comparing the current market to the first five years of the last housing boom.Touching upon the supply constraints and why more homes weren’t being built, Fisher said that there was an excess of supply right after the bust, but that was absorbed by 2012 and while the reasons aren’t exactly clear, while there was enough supply at the higher end and the lowest end of housing, it was middle-income housing where supply constraints were most acute. “The missing middle is the new interesting story,” Fisher said.Click here or the image below to hear the full podcast. The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save October 26, 2018 1,223 Views AEI Affordablity Homes HOUSING Supply 2018-10-26 Radhika Ojhacenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post All About Policy and Prices in Housing Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: AEI Affordablity Homes HOUSING Supply Home / Daily Dose / All About Policy and Prices in Housing Previous: US Bank: The Legal Challenges of Default Servicing Next: Economic Ironies The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Addressing the State of the Union

first_img Tagged with: Brian Montgomery CFPB Fannie Mae FHA FHFA Freddie Mac Home Home Prices HOUSING Housing Finance Reform Kathy Kraninger Mark Calabria S&P CoreLogic Se. Mike Crapo State of the Union Steve Mnuchin  Print This Post in Daily Dose, Featured, Government, News February 5, 2019 4,025 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Bipartisanship was the theme throughout President Donald Trump’s State of the Union address on Tuesday. Touching upon some of the key factors that have propelled the U.S. economy such as a tight jobs market, low unemployment rates, and a fast GDP growth, all of which have also impacted the housing industry, Trump declared that the “State of our Union is strong.” However, he said that “victory is not winning for our party, victory is winning for our country.”The border wall, trade talks, and the recent government shutdown were some of the prominent topics that he touched upon during his State of the Union speech that lasted more than an hour. Stressing that it was time to redefine the American middle-class Trump said that it was time for both parties to come together to make “our communities safer, families stronger and our middle-class bigger and more prosperous than ever before.”Commenting on the address, HUD Secretary Dr. Ben Carson said that the address offered a strong vision of unity that put the country before politics and that both parties in Congress work together to fix the broken immigration system. “There is no challenge we cannot overcome if we embrace the bipartisan, common-sense approach our President outlined tonight,” he said.The next big priority President Trump said was the “great rebuilding of America’s crumbling infrastructure.” Trump said that he was ready to work with Congress to pass an infrastructure bill to that effect.Applauding this commitment, National Association of Realtors President John Smaby said that voters throughout the country had made clear their desire to see lawmakers secure bipartisan infrastructure reform. “The National Association of Realtors®, together with our 1.3 million members, understands the critical role infrastructure improvements play in maintaining property values, creating livable neighborhoods and developing communities in which businesses can succeed,” Smaby said.The State of the Union address was also a good time to take a look at the state of the housing industry, which saw three factors defining it in 2018—inventory, rising mortgage rates, and a cooling down of home price growth. The industry also saw some key legislation passed during the year to strengthen housing as well as appointments to leadership positions across the Federal Housing Finance Agency (FHFA), Consumer Financial Protection Bureau (CFPB), and the Federal Housing Administration (FHA).The Big PictureThe housing market is seeing some stability after getting a late boost at the end of 2018 as mortgage rates declined and home price growth started showing signs of slowing down. According to Freddie Mac’s latest forecast, 30-year fixed-rate mortgages began to let up at the end of the year, after climbing for several months, averaging 4.6 percent in 2018 and dropping to a nine-month low of 4.45 percent in early January.“Despite the weakening of the housing market in 2018, early 2019 data signals a possible turnaround for the year to come,” said Sam Khater, Chief Economist, Freddie Mac. “This recent uptick in activity proves that homebuyers are very sensitive to changing interest rates and will likely respond positively if mortgage rates remain below five percent.”“Home prices are still rising, but more slowly than in recent months,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. He indicated that the pace of prices is “being dampened by declining sales of existing homes and weaker affordability.”On a year-over-year, the S&P CoreLogic Case-Shiller Index covering all nine U.S. census divisions, revealed a 5.2 percent annual gain in November, down from 5.3 percent in the previous month. The 10-city composite annual increase is at 4.3 percent, dropping from 4.7 percent in the previous month. On the other hand, the 20-city composite reflected a 4.7 percent year-over-year gain, a decline from 5 percent in October 2018.According to Fannie Mae, home affordability continues to be a challenge across the country with rising interest rates and continued home price appreciation discouraging both first-time and move-up homebuyers. As a result, through its quarterly lender sentiment survey, Fannie Mae asked senior mortgage executives their views on improving housing affordability for low- and moderate-income homebuyers.Increasing the supply of housing stock is the key to making housing affordable to a larger population of homebuyers, according to the lenders who responded to Fannie Mae’s Mortgage Lender Sentiment Survey for the fourth quarter of 2018. Some of the other ideas put forth by them included offering consumer subsidies as well as more loan choices such as mortgages involving low down payments or loans including renovation costs.”In the face of the perceived impacts of non-mortgage supply constraints, it appears that further easing of consumer credit standards would be more likely to contribute to stronger home price appreciation than expanding sustainable homeownership,” said Mark Palim, VP and Deputy Chief Economist at Fannie Mae in his Perspectives blog.Housing Finance Reform in the Cards?With the overall housing market expected to remain stable during the year, housing finance reform, is likely to be a key focus area for the Senate Banking Committee. The committee’s Chairman, Sen. Mike Crapo, recently introduced an outline for housing finance legislation, which, according to a statement by Crapo, incorporates elements of the various “plans and principles for housing finance reform that have been previously discussed by legislators, analysts, stakeholders, and thought leaders.””Protecting American taxpayers by ensuring the safety and stability of the United States housing finance system is a priority for the Treasury Department,” said Treasury Secretary Steven Mnuchin, in response to the outline released by Crapo. “The outline for housing reform legislation released by Chairman Crapo is a productive first step toward that goal, and I applaud him for his efforts.”This legislation outline comes close on the heels of the White House’s statement that it would announce a framework for “the development of a policy for comprehensive housing finance reform shortly,” and that it had not yet made a decision on any housing finance reform plan. The announcement was made within weeks of FHFA Acting Director, Joseph Otting’s remarks to staffers that the agency would be announcing plans to remove the GSEs from conservatorship soon.Otting is one of the many appointees who was nominated by the Trump administration to key positions in the housing industry last year.Nominations and AppointmentsNew appointments to key positions within regulatory bodies like the FHA and the CFPB along with nominations to head the FHFA were followed closely during the year. Brian Montgomery, who had been nominated by the President for the position of Assistant Secretary for Housing-Federal Housing Commissioner, U.S. Department of Housing and Urban Development in November 2017, was approved by the Senate by a vote of 74-33 in May 2018. “I’m honored to have the opportunity to serve with Secretary Carson and the team at HUD to further equal access to affordable rental housing and homeownership opportunities and seek solutions to restore vitality to the housing market,” Montgomery said in a statement.In November, Kathleen Kraninger succeeded Acting Director Mick Mulvaney to become the Director of the CFPB after a Senate vote confirmed her nomination. “As Congress continues its efforts to reform the Bureau into a law enforcement agency that truly protects consumers and is accountable to the people, I am confident that with her experience and knowledge of budget management, Kathy will excel as Director of the Bureau,” said Jeb Hensarling, then the Chairman of the House Financial Services Committee. “I look forward to working with her, the Trump Administration and House and Senate Democrats to put real reforms in place that protects consumers.”With the Democrats taking over the House Financial Services Committee after the mid-term elections, Rep. Maxine Waters (D-Cal) succeeded Hensarling as the Chair of the House Financial Committee Chairwoman.In December, the Trump administration announced the nomination of Dr. Mark Calabria, who is currently the Chief Economist to Vice President Mike Pence, to lead the Federal Housing Finance Agency for five years after the term of the current FHFA Director, Mel Watt expires in January.If confirmed, Calabria would have significant influence over the housing finance market at the FHFA. Servicers Navigate the Post-Pandemic World 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. Previous: Fitch: Servicers Prepared for Economic Downturn Next: Fannie Mae Survey: Big Banks vs. Big Tech Share 1Save Home / Daily Dose / Addressing the State of the Union The Best Markets For Residential Property Investors 2 days ago Brian Montgomery CFPB Fannie Mae FHA FHFA Freddie Mac Home Home Prices HOUSING Housing Finance Reform Kathy Kraninger Mark Calabria S&P CoreLogic Se. Mike Crapo State of the Union Steve Mnuchin 2019-02-05 Radhika Ojha Demand Propels Home Prices Upward 2 days agocenter_img About Author: Radhika Ojha 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 Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Addressing the State of the Union Sign up for DS News Daily last_img read more

Checking in on Interest Rates

first_imgHome / Daily Dose / Checking in on Interest Rates  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welborn Subscribe Tagged with: CNBC Federal Reserve Interest rates The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Checking in on Interest Rates Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: The Future of a Career in Appraisals Next: The Week Ahead: Loan Performance on the Radar CNBC Federal Reserve Interest rates 2019-06-07 Seth Welborn June 7, 2019 1,772 Views Servicers Navigate the Post-Pandemic World 2 days ago After the Federal Reserve announced that will be keeping the federal funds rate at 2.25 to 2.50 percent at the beginning of May, Jeffrey Taylor, co-founder and managing director of Digital Risk, said on CNBC’s Squawk Box that he predicts the Fed to cut rates based on geopolitical issues.“If you were to ask me three months ago, if there was a chance we would be having rate cuts this year in the U.S., I would say absolutely not,” said Taylor. “Now, if you look at the situation, it’s somewhat unprecedented, but you’re looking at probably at least 50 basis points, 100 basis points rate cuts based on geopolitical issues, versus the strong economy the U.S. has right now with wage growth at the fastest its been in over a decade for the middle class and unemployment around 4%.”One thing Taylor is keeping an eye on this year is the housing market, noting that mortgage rates are the lowest they’ve been in months.“All of a sudden, with mortgage rates down the affordability factor is going to kick in,” Taylor said. “The move-up on homebuyer or the first-time homebuyer may finally be able to get into the market. I think they’re a lot of positives happening in the housing market.”Given the positive indicators in the economy, the rate cut seems more likeley than ever, Taylor notes.“I would have never predicted this six months ago, but that looks to be the reality we’re in right now,” Taylor continues. Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Share Savelast_img read more

The Lingering Impact of Natural Disasters on Delinquency Rates

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CoreLogic Delinquency Rate Loan Insights Report 2019-07-09 Mike Albanese Home / Daily Dose / The Lingering Impact of Natural Disasters on Delinquency Rates Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The total number of mortgages delinquent more than 30 days fell to 3.6% in April 2019, according to CoreLogic’s latest Loan Performance Insights Report. CoreLogic’s report reveals delinquency rates have fallen year-over-year from 4.3% in April 2018. The report also reflects a slight month-to-month decline, as 4% of mortgage were delinquent more than 30 days in March 2019.”Thanks to a 50-year low in unemployment, rising home prices and responsible underwriting, the U.S. overall delinquency rate is the lowest in more than 20 years,” Frank Nothaft, Chief Economist for CoreLogic. “However, a number of metros that suffered a natural disaster or economic decline contradict this national trend. For example, in the wake of the 2018 California Camp Fire, the serious delinquency rate in the Chico, California, metro area this April was 21% higher than one year ago.”According to March’s report, the largest annual gains in serious delinquency rates came in areas impacted by Hurricanes. Panama City, Florida, had the largest increase at 1.9%. Panama City once again posted the largest annual rise in serious delinquency rates with a 1.4% increase. Albany, Georgia, recorded a 0.7% increase and Jacksonville, North Carolina, reported a 0.6% increase. “The U.S. has experienced 16 consecutive months of falling overall delinquency rates, but it has not been a steady decline across all areas of the country. Recent flooding in the Midwest could elevate delinquency rates in hard-hit areas, similar to what we see after a hurricane, said Frank Martell, President and CEO of CoreLogic. The total number of homes in foreclosure in April 2019 fell slightly to 0.4% from 0.5% the month prior. Nationally, every state posted a decline in serious delinquency rates, but some of the larger CBSAs struggled over the past month. The CBSA of New York-Newark-Jersey City-NY-NJ-PA, had the highest serious delinquency rate among the 10-largest CBSAs at 2.5%. Miami-Fort Lauderdale-West Palm Beach, Florida, was close behind at 2%. San Francisco-Oakland-Hayward, California, had the lowest serious delinquency rate of the 10 largest CBSAs at 0.3%.  Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago The Lingering Impact of Natural Disasters on Delinquency Rates Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Previous: Re-examining Lenders’ False Claims Act Liability Next: Homeownership at the Center of How Americans Save Share Save Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago July 9, 2019 1,477 Views The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Mike Albanese Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: CoreLogic Delinquency Rate Loan Insights Report in Daily Dose, Featured, Loss Mitigation, News, Secondary Market  Print This Post Subscribelast_img read more

Oireachtas Committee reverses decision not to meet Donegal families

first_img Pinterest Calls for maternity restrictions to be lifted at LUH Twitter Facebook Previous articleMan extradited from Donegal on sex charges appears at Derry CourtNext articleMan shot in the leg in Derry News Highland Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Oireachtas Committee reverses decision not to meet Donegal families Three factors driving Donegal housing market – Robinson WhatsApp News Google+center_img The Oireachtas Transport Committee has agreed to meet the families of three young women who died in road crashes allegedly linked to road works which were improperly marked.The committee had initially refused to meet the families, including the parents of Donegal woman Sinead Mc Daid, but has today reversed that decision.North West MEP Jim Higgins is welcoming the change of heart, but says it’s disappointing that the committee’s sudden u-turn is a result of negative media attention rather than a commitment to road safety. WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly Guidelines for reopening of hospitality sector published Twitter RELATED ARTICLESMORE FROM AUTHOR By News Highland – April 13, 2010 LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Facebooklast_img read more