Fannie Mae: Americans Optimistic About Housing Market

first_img Consumer Confidence Fannie Mae Home Sales Housing Market 2014-05-07 Scott Morgan Data Provider Black Knight to Acquire Top of Mind 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. in Daily Dose, Featured, Government, Headlines, News With concerns about employment easing, Americans are increasingly optimistic about the housing market, reports Fannie Mae in its April National Housing Survey. And, according to the mortgage buyer, this climbing optimism may foreshadow an upswing in housing activity through the summer months.The results of the survey, released Wednesday, show that 42 percent Americans believe now is a good time to sell a home. Meanwhile, 69 percent believe it’s a good time to buy one. This is the third straight month that the percentage of respondents saying it’s a good time to sell has increased.Fannie is taking it as a good sign that buying activity will increase in the coming months, as potential buyers may look to shed their homes in order to buy new ones.Half the respondents to Fannie’s survey believe home prices will increase in the next 12 months, while 52 percent said they expect mortgage prices to go up in the same time period. Related, respondents were generally split regarding their ability to get a mortgage. About 45 percent said they would expect no trouble in getting one, while 52 percent expect it would be difficult to do. And barely a third of respondents feel the economy is on the right track, despite their optimism for the housing market lately.The encouraging thing, however, is that fewer people are concerned about losing their jobs, which, according to Fannie, may encourage potential homebuyers to enter the market. Also, nearly 90 percent said their income is either more stable or has improved over the past year. However, income gains were tempered by rising expenses—39 percent of respondents said their household expenses are “significantly higher” than 12 months ago.”Concern about job loss among employed consumers has hit a record survey low,” said Doug Duncan, senior VP and chief economist at Fannie Mae. Duncan also said that consumer attitudes are at the most favorable level Fannie has seen in the survey’s four-year history and that “consumer confidence is moving in a positive direction.”Fannie’s April report largely mirrors the results of an April Gallup Poll, which showed that more than half of Americans surveyed feel confident about the housing market. According to that survey, American attitudes toward buying, selling, and home values are up to their highest levels since 2007.”These more positive views of the housing market may help foster a situation in which home buying activity increases and home values continue to rise over the next year,” the Gallup report stated. Almost exactly what Fannie found. Servicers Navigate the Post-Pandemic World 2 days ago Previous: Genworth Insurance Helps 150,000 Borrowers Next: Capstone Mortgage Continues Hiring Spree Share Save Tagged with: Consumer Confidence Fannie Mae Home Sales Housing Market Home / Daily Dose / Fannie Mae: Americans Optimistic About Housing Market Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Scott Morgan The Best Markets For Residential Property Investors 2 days ago Fannie Mae: Americans Optimistic About Housing Market Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago May 7, 2014 716 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Survey: Realtors Continue to Invest in Mobile Technology

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The National Association of Realtors (NAR) set out to answer a very simple question—how much are realtors spending on new technology for their businesses? NAR conducted the 2013-2014 Realtor Technology Survey, which found that realtors continued to invest in technology for their business in 2013 and spent more than they had in previous years.According to NAR’s survey, brokers spent a median of $1,410 on technology for their real estate business, up from $1,122 in 2012. Agents spent less—in 2013 agents spent a median $848, up slightly from $822 in 2012.The survey found that technology that allows work to be done while on the move generated the most interest among realtors. “Smartphones and tablets—iPads, Androids, Surfaces or Kindles—are the tools Realtors are most intent on purchasing; 29 percent of participants said they plan on procuring one of these tools in 2014,” NAR found.”Technology has transformed the way Realtors do business, but in real estate, being high tech can never come at the expense of being highly accessible,” said Mark Lesswing, NAR SVP and CTO. “Advances in Smartphones and social media have made it easier for Realtors to stay in touch with their customers, but maintaining a strong, personal relationship with clients is still at the heart of the business.”NAR’s survey found that 94 percent of realtors use mobile devices to communicate with clients. Realtors spent a median 44 percent of their time corresponding with or doing work for their clients with their mobile devices. Certain mobile devices were used more widely than others—iPhones made up 52 percent of devices respondents use, while 36 percent use Android devices and 3 percent Blackberry devices.”Realtors tend to find the most value in technologies that allow them to conduct business quickly, conveniently and on the go,” Lesswing said. “Embracing new technologies and online resources is a vital part of how Realtors identify, market and sell homes and guarantee that they are meeting their clients’ needs.”Social media also proved to be an important link for realtors to reach their clientele. The survey reported that 91 percent of all realtors use social media, with 70 percent saying they use social media to build relationships and network. Additionally, 64 percent of realtors said they use the platforms for marketing and lead generation.Facebook topped the list as most used social media platform with 77 percent of respondents using the service, while 75 percent said they used LinkedIn. Demand Propels Home Prices Upward 2 days ago Tagged with: Agents Brokers Mobile Technology Realtors Social Media The Best Markets For Residential Property Investors 2 days ago Previous: Trulia: Undervalued Homes Squash Housing Bubble Concerns Next: As Banking Industry Improves, Risk Increases About Author: Colin Robins Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Survey: Realtors Continue to Invest in Mobile Technology Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Agents Brokers Mobile Technology Realtors Social Media 2014-06-26 Colin Robins Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Survey: Realtors Continue to Invest in Mobile Technology Share Save  Print This Post in Daily Dose, Featured, Headlines, News, Technology Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago June 26, 2014 1,682 Views last_img read more

Housing Market Heats Up Along With Summer

first_img Servicers Navigate the Post-Pandemic World 2 days ago Subscribe in Daily Dose, Featured, Market Studies, News About Author: Brian Honea Home / Daily Dose / Housing Market Heats Up Along With Summer Share Save Housing Market RE/MAX 2016-07-14 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Previous: The States With the Most Foreclosure Filings Next: What Could Housing Look Like With Mike Pence as VP? Tagged with: Housing Market RE/MAX Servicers Navigate the Post-Pandemic World 2 days ago Housing Market Heats Up Along With Summer In the middle of the summer when housing activity normally reaches its peak time, both home sales and prices are heading up, according to the July 2016 RE/MAX National Housing Report.Strong homebuyer demand resulted in a 9.4 percent increase in home sales from May to June as well as a 0.7 percent increase from June 2015 to June 2016, according to RE/MAX. The median sales price of homes rose by 2.2 percent over-the-year in June up to $229,900.Inventory, however, remains a significant challenge. RE/MAX reported that the number of homes for sale in June 2016 was more than 15 percent lower than in June 2015. Inventory was especially a challenge in West Coast metros. The national months supply of inventory was 3.2 in June, which was a slight improvement from May’s 3.0, according to RE/MAX.“Last year was the best we’d seen in a long time for home sales,” said Dave Liniger, RE/MAX CEO, Chairman of the Board and Co-Founder. “So, it’s encouraging that sales this year are remaining above last year’s levels. Moderating prices are a good thing for this market. Homeowners are still seeing improvement in their equity, while there’s less chance of homebuyers being priced out. We have to wait out the ongoing inventory challenges, but the month-over-month stabilization we’re seeing is a very good sign.”Out of the 53 markets surveyed, 31 reported higher home sales than a year ago in June. Home sales were the strongest in the Northeast, with the largest increase occurring in Augusta, Maine at 22.7 percent. Other Northeast markets that saw double digit increases in home sales were New York, New York (13.1 percent); Trenton, New Jersey (11.1 percent), and Hartford, Connecticut (10.2 percent).Only four of the 53 markets surveyed reported a drop in median sales price from a year ago, with seven of the markets reporting double-digit increases. The largest median price increases occurred in Tampa (14.1 percent), Orlando (13.9 percent), Honolulu (13.1 percent), Portland (12.6 percent), and Denver (11.1 percent).center_img The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago July 14, 2016 1,513 Views last_img read more

Lure of Homeownership Overshadows Rental Options

first_imgHome / Daily Dose / Lure of Homeownership Overshadows Rental Options in Daily Dose, Featured, Market Studies Related Articles Demand Propels Home Prices Upward 2 days ago January 19, 2017 1,640 Views Previous: Down, Down, Down for Mortgage Rates Next: GSEs Hit Loan Modification Milestone The past year saw extremely high demand for homeownership, causing nationwide home prices to rise considerably higher by the end of the year. This surge in demand can be attributed to low mortgage rates, home prices still lingering below 2007 peak evaluations, and rising rent rates at the beginning of 2016.Zillow’s 2016 December Market Report offers a figure of $193,800 as the median home value for December, a 0.6 percent increase from the previous month and a 6.8 percent increase from the end of 2015. The figure still falls short of the April 2007 median home price high of $196,600, but the shortage of inventory will likely continue to propel prices higher throughout the beginning of 2017.Total home inventory was down for December by 4.6 percent when compared to the close of 2015. The total amount of homes available for sale throughout the United States was 1.418 million in December, a steep decline from the July 2011 high of 2.349 million.However, there were some regions which experienced considerable increases in inventory: Las Vegas, Nevada saw a stunning inventory increase of 25.7 percent for the year, while Austin, Texas and Miami, Florida incurred inventory gains of 15.1 and 14.6 percent, respectively.In contrast to the impressive annual increase in home prices for 2016, rent rates did not have any meaningful gains during the last 3 quarters of 2016. According to the Zillow Rent Index, the national median rent came in at $1,403, which was only 1.5 percent higher than rent rates in 2015.The top three cities where rental rates grew the fastest were Seattle, Washington at 8.4 percent, followed by Portland, Oregon’s increase of 6.8 percent, and lastly Sacramento, California at 6.7 percent.Pittsburgh, Houston, and Virginia Beach were three large markets where rent rates actually decreased in the YOY comparison for December. Pittsburgh incurred the largest rate drop in rental rates of -1.9 percent, followed by Houston at -1.5 percent, and finally Virginia Beach with a -1.1 percent decrease in rent.The relatively flat growth in rental rates, Zillow notes, can be attributed to the attractiveness of both home prices and mortgage rates, which swayed many buyers to purchase a home rather than rent an apartment or a multifamily unit. However, as home prices continue to rise in price and mortgage rates likewise increase, individuals may begin to look at renting as the more viable option.“At the end of 2016, home values were up nearly 7 percent from the year before, while rents were essentially the same as they had been a year earlier,” stated Zillow Chief Economist Svenja Gudell. “As older millennials look to become homeowners, short inventory and rapidly rising home values will remain a challenge in 2017. However, the rent slowdown brings good news for renters, easing the pressure to escape the rental market and turn to homeownership.” Servicers Navigate the Post-Pandemic World 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Tim McNally is a journalist with experience in business reporting. His journalism career began with Houston Energy Insider as an Energy Reporter, which eventually led him to secure a position with OILMAN Magazine as Digital Content Manager. McNally is a native Texan, and he received his degree in Finance from the University of St. Thomas. He is a staff writer for The MReport. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily center_img Homeownership Rentals Sales 2017-01-19 Timothy McNally  Print This Post Demand Propels Home Prices Upward 2 days ago Lure of Homeownership Overshadows Rental Options The Week Ahead: Nearing the Forbearance Exit 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 Servicers Navigate the Post-Pandemic World 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 Tagged with: Homeownership Rentals Sales About Author: Tim McNallylast_img read more

Loan Denial Rates and Credit Scores

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Credit Access Credit Availability Credit Scoring Income Verification Loan Denial Rate loans mortgage Urban Institute 2018-08-22 Krista Franks Brock Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Recent data from the Home Mortgage Disclosure Act illustrates progress in the mortgage market. Loan denial rates are decreasing; loan originations are increasing, and the rate of mortgages made to minorities is rebounding, according to an analysis of the HDMA data conducted by the Urban Institute’s Housing and Housing Finance Policy Center.However, “Our recent analysis of HMDA data shows that while the housing market has rebounded from the crisis in many respects, minority and low-income households lag significantly behind in the recovery,” said Bhargavi Ganesh, a researcher at the Urban Institute. ALoan denial rates overall are declining, falling from 41 percent in 2013 to 32 percent in 2017, according to the Urban Institute’s analysis, which narrowed the view of denial rates to that among lower-credit profile borrowers. The Urban Institute argues that a broader view of denial rates ignores the fact that there are fewer lower-credit profile applicants in today’s marketplace. Denial rates are higher among minority applicants, and they are “significantly higher” among applications for loans under $70,000, according to the Urban Institute. Denial rates for loans under $70,000 are 52 percent, in contrast to a 29 percent denial rate for loans over $150,000, according to the institute’s analysis. At the same time that overall denial rates are down, mortgage credit availability experienced an uptick. In fact, the Urban Institute’s Housing Credit Availability Index has risen for three consecutive quarters and is now at its highest level since 2013. The institute has noted before and noted again that “significant space remains to safely expand the credit box. If the current default risk were doubled across all channels, risk would still be well within the pre-crisis standard of 12.5 percent from 2001 to 2003.” Most of the easing in credit has come from the GSEs and government channels, with a little help from nonbank lenders as well, according to the Urban Institute. While the overall news for the market is good, the recovery is uneven, Ganesh said. Black and Hispanic households now account for 19.2 percent of the purchase loan origination market, which matches the level recorded between 2001 and 2003, a “period of reasonable lending standards,” according to the Urban Institute. However, many large “high-growth” cities maintain a large gap between white, black, and Hispanic homeownership. For example, the Urban Institute recently reported that in Detroit, where the population is 84 percent black, the percentage of purchase originations was just 8 percent in 2016. This is down from 21 percent in 2006. While this is one of the more extreme examples, other cities are experiencing a similar trend. With low-income and minority borrowers not experiencing the same recovery as other buyers, the Urban Institute suggests policymakers look at ways to expand lower-dollar mortgage loans and review “alternative forms of credit scoring and income verification.”  Print This Post in Daily Dose, Featured, Loss Mitigation, News About Author: Krista Franks Brock Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago August 22, 2018 3,760 Views Loan Denial Rates and Credit Scores Subscribe Previous: The Industry Pulse: Updates on a360inc, Xome, and More Next: What’s Causing an Uptick in Foreclosure Starts? Tagged with: Credit Access Credit Availability Credit Scoring Income Verification Loan Denial Rate loans mortgage Urban Institute Sign up for DS News Daily Home / Daily Dose / Loan Denial Rates and Credit Scores Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

President Trump Wants Rate Cuts…Now

first_img Tagged with: Fed Interest rates Powell Trump July 22, 2019 1,182 Views President Trump Wants Rate Cuts…Now Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / President Trump Wants Rate Cuts…Now Previous: Partnership to Continue Honoring Veterans Next: NewFI Implements LoanScorecard’s Pricer1 and Portfolio Underwriter About Author: Seth Welborn in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img 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. Servicers Navigate the Post-Pandemic World 2 days ago Fed Interest rates Powell Trump 2019-07-22 Seth Welborn 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post On Monday, President Donald Trump signaled to the Federal Reserve that he believes now is the best time to cut interest rates.“Very inexpensive, in fact productive, to move now,” the President tweeted. “The Fed raised & tightened far too much & too fast.”Bloomberg reports that Fed Chairman Jerome Powell is looking to ease interest rates by around a quarter of a percentage point at the July meeting. Earlier this year, Powell stated that though the economy remained strong, “crosscurrents, such as trade tensions and concerns about global growth, have been weighing on economic activity and the outlook.”In a meeting of the Federal Open Market Committee (FOMC), Powell said that while jobs, wage growth, and consumer spending remained strong in the second quarter of 2019, growth in business investment “seems to have slowed notably, and overall growth in the second quarter appears to have moderated.”Another cause of concern for the economy was the slowdown in fixed investment that may reflect concerns about trade tensions and slower growth in the global economy. “In addition, housing investment and manufacturing output declined in the first quarter and appear to have decreased again in the second quarter,” Powell said.Powell also addressed recent remarks by President Donald Trump on the Fed’s monetary policy stance.Bloomberg recently reported that the President had compared the Fed to “a stubborn child,” and said that if the Fed “knew what it was doing” it would cut rates. He had also announced his intentions to nominate two potentially dovish members to the Fed, either of whom “might be a Fed chair pick for Trump when Powell’s term ends in 2022, assuming the president wins reelection next year,” according to the Bloomberg report.He also addressed the Fed’s stance on the ongoing trade tensions while answering a question by Rep. Carolyn Maloney saying that no one should interpret what he said about trade headwinds as in any way a criticism of trade policy.”We do not play a role in assessing or criticizing the trade policy, it is not something assigned to us. We react in principle to anything that affects our ability to achieve the core mandate goals assigned to us by Congress, which could call for a policy response,” he said. The Fed will meet next on July 30-31. Subscribelast_img read more

EAST COAST BRACES FOR DORIAN

first_img EAST COAST BRACES FOR DORIAN Share Save in Daily Dose, Featured, Loss Mitigation, News Previous: Mortgage Debt Through the Years Next: Retirees and Household Debt 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. Servicers Navigate the Post-Pandemic World 2 days ago August 30, 2019 1,412 Views Servicers Navigate the Post-Pandemic World 2 days ago Hurricane 2019-08-30 Mike Albanese Tagged with: Hurricane The Week Ahead: Nearing the Forbearance Exit 2 days ago Updated at 11:00 p.m. CDT on August 31Hurricane Dorian is shifting to the east, but hurricane-force winds are still expected to hit the Florida and parts of the east coast throughout the week, according to updates from the National Oceanic and Atmospheric Administration (NOAA). The National Hurricane Center reports that Dorian’s center was some 260 miles east of the northwestern Bahamas and about 450 miles east of West Palm Beach, Florida, moving west-northwest at about 12 mph.NOAAWhile Florida may be spared a direct hit, CBS News reports that the hurricane could still bring life-threatening storm surge and winds to coastal communities. The storm is now expected to make landfall over North and South Carolina on Wednesday or Thursday of next week. State of emergencies are in effect for the entire states of Florida and North Carolina, and 12 counties in Georgia.Updated at 12:35 p.m. CDT on August 30Hurricane Dorian has its sights set on the Atlantic Coast of Florida, as new projections show it could make landfall Monday as a category 4 storm. CoreLogic is also reporting that 668,052 single-family homes could be impacted along the eastern coast of the state, with a reconstruction cost value (RCV) of nearly $144.6 billion. The report, which based predictions on the storm being a category 3 distinction, showed 411,199 homes could be impacted in the Miami-Fort Lauderdale-West Palm Beach market, with an RCV of $85.55 million. “Hurricane-driven storm surge can cause significant property damage when high winds and low pressure cause water to amass inside the storm, releasing a powerful rush over land when the hurricane moves onshore,” the report states. The state of Florida declared a state of emergency on Thursday as the storm was just more than 200 north of Puerto Rico, sparring the island form a direct hit. CBS News reported Friday that the storm is currently a category 3 hurricane, but expects it to gain strength as it makes its way north. The potential exists for the storm to bring with it 140 mph winds before making landfall, according to CBS News. Florida Gov. Ron DeSantis expanded the state of emergency to cover all counties in Florida, and also requested President Donald Trump for a pre-landfall disaster declaration. President Trump cancelled a trip to Poland to focus on the federal response to the storm. As of 11 a.m. EDT Friday, Dorian’s center was more than 600 miles east of West Palm Beach and 480 mile east of the Bahamas. Dorian currently has maximum sustained winds of 110 mph. Fannie Mae and Freddie Mac reminded homeowners and servicers of their respective assistance options. Freddie Mac reminded mortgage servicers of its disaster relief policies for borrowers as Hurricane Dorian approaches Florida. Freddie Mac’s disaster relief options are available to borrowers whose homes or places of employment are located in presidentially-declared Major Disaster Areas where federal individual-assistance programs are made available to affected individuals and households.In areas where the Federal Emergency Management Agency (FEMA) has not yet made individual assistance available, mortgage servicers may immediately leverage Freddie Mac’s short-term forbearance programs to provide mortgage relief to their borrowers that have been affected by hurricane damage. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img 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 Demand Propels Home Prices Upward 2 days ago About Author: Mike Albanese Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / EAST COAST BRACES FOR DORIAN Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Sign up for DS News Daily Subscribelast_img read more

How the Pandemic Impacted Interest in SFR Investing

first_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News  Print This Post Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago All manner of the economy and industry has changed as a result of the COVID-19 crisis. A January article in Architectural Digest explores how the pandemic inadvertently has prompted an increasing interest in single-family rental investing.Interest rates in 2020 dropped to record-level lows, and the demand for new homes increased, creating a lack of inventory as well as prices that, for many Americans, are unaffordable. Add to that the newfound desirability of suburban-situated homes, and many homeowning hopefuls have discovered that ownership, for them, is unattainable in today’s market.Investors who can afford to purchase property in this market seem to be banking on the idea that others might be willing to lease rather than borrow for their new abode.As reporter Tim Nelson puts it in his Digest piece, “A building boom of single-family rental properties has arrived, with investors betting that those who are unable to pay for a suburban mortgage would be willing to settle for a lease.”Citing data from John Burns Real Estate Consulting and the Wall Street Journal, the Digest estimated a total of 16.417 million single-family rental homes across the U.S. In a one-year span ending September 30, 2020, more than 50,000 new rental houses were built—that’s a significant increase from a 40-year average of 31,000.While the pandemic no doubt propelled, the trend of building homes specifically designed as rental properties began during the 2008 housing crisis, Nelson noted.”Once the large landlords who consolidated their holdings by snatching up foreclosures ran out of distressed assets to acquire, the next logical step was to start building up the housing supply themselves,” wrote Nelson. “Add in lender hesitance to finance homeownership for the lower middle class, and you have the recipe for companies like American Homes 4 Rent to add more than 2,500 newly built rental homes to its portfolio in recent times.”Some experts predict that as many as 5% of newly built homes could sell to investors in the coming years.”It could be that leaving city high-rises behind will become less likely to involve a mortgage,” wrote Nelson. “How exactly this might reshuffle the housing market—or what happens if demand cools off—remains to be seen.”The full article is on architecturaldigest.com. January 11, 2021 12,353 Views Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save 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. Related Articles About Author: Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago 2021-01-11 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: HECM Volume Up 37.5% in 2020 Next: More Americans Turning Toward Rural Residential Living The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / How the Pandemic Impacted Interest in SFR Investing Sign up for DS News Daily How the Pandemic Impacted Interest in SFR Investinglast_img read more

Ocwen Enters Into $48 Billion MSR Deal

first_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 1 day ago Ocwen Enters Into $48 Billion MSR Deal Subscribe Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Eric C. Peck Tagged with: AmeriHome Mortgage Company LLC Glen A. Messina mortgage servicing rights (MSRs) MSR Asset Vehicle LLC (MAV) Ocwen Financial Corporation PHH Mortgage Corporation Texas Capital Bank Home / Daily Dose / Ocwen Enters Into $48 Billion MSR Deal 4 days ago 466 Views center_img Demand Propels Home Prices Upward 1 day ago Ocwen Financial Corporation has announced that its wholly-owned subsidiary, PHH Mortgage Corporation, has entered into an agreement with AmeriHome Mortgage Company LLC to purchase, in bulk, mortgage servicing rights (MSRs) with a total unpaid principal balance of approximately $48 billion.The MSR portfolio is comprised of approximately 178,000 mortgage loans sold to or securitized by Freddie Mac and Fannie Mae. As of March 31, 2021, PHH serviced approximately 1.1 million loans and this transaction is expected to grow its total servicing portfolio by approximately 16%. The transaction is expected to close late in Q2 of 2021, subject to certain closing conditions, including regulatory approvals and finalizing an agreement between PHH and Western Alliance Bank to finance the MSR acquisition. The loans underlying the MSR portfolio are expected to transfer to PHH in September of 2021.“We are excited to announce the MSR purchase agreement with AmeriHome,” said Glen A. Messina, President and CEO of Ocwen. “Overall, we are delivering very strong performance in adding new servicing across our originations channels and this agreement is a significant milestone in achieving our growth objective of adding up to $150 billion in new servicing in 2021. We believe the execution of a bulk MSR transaction of this magnitude reflects the strength, quality and scalability of our servicing platform, and we look forward to welcoming our new customers to the Ocwen family.”During Ocwen’s Q1 2021 earnings update, the company disclosed it had entered into letters of intent for the bulk purchase of MSRs with a total unpaid principal balance of approximately $68 billion, which included the approximately $48 billion bulk MSR portfolio with AmeriHome.The company also recently announced the completion of a previously announced transaction with funds managed by Oaktree Capital Management LP to operate an MSR investment joint venture, MSR Asset Vehicle LLC (MAV). In addition, Ocwen entered into an agreement with Texas Capital Bank to purchase, in bulk, MSRs attributable to a mortgage loan portfolio approximating $14 billion, with approximately 60,000 loans expected to transfer to the PHH Mortgage servicing platform in Q3 of 2021. Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Journal, News, Secondary Market Previous: Home Prices Climb 13.2% YoY in March Next: The Importance of Assessing Weather-Related Risk Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago AmeriHome Mortgage Company LLC Glen A. Messina mortgage servicing rights (MSRs) MSR Asset Vehicle LLC (MAV) Ocwen Financial Corporation PHH Mortgage Corporation Texas Capital Bank 2021-05-25 Eric C. Pecklast_img read more

PSNI officers disciplined for failing to find dead man’s body

first_img Google+ WhatsApp 448 new cases of Covid 19 reported today Three factors driving Donegal housing market – Robinson Calls for maternity restrictions to be lifted at LUH Twitter Twitter Two PSNI officers who were called to the home of a missing person in Derry have been disciplined after failing to locate the man’s decomposing body inside the property.In September 2008, a lady reported to the PSNI that she had not seen her neighbour for over a week, PSNI officers visited the premises twice and failed to discover the body.It took a third search to discover the remains of the Strathfoyle man.Foyle MLA Martina Anderson says it is a tragic case and lessons have to be learned:[podcast]http://www.highlandradio.com/wp-content/uploads/2010/02/11mart1pm.mp3[/podcast] Facebook By News Highland – February 11, 2010 Facebook Previous articleDonegal SW by-election could be pushed back to AutumnNext articleAnti pylon group questions motives for 110 kilovolt line News Highland center_img News WhatsApp PSNI officers disciplined for failing to find dead man’s body Google+ Pinterest Help sought in search for missing 27 year old in Letterkenny NPHET ‘positive’ on easing restrictions – Donnelly RELATED ARTICLESMORE FROM AUTHOR Pinterest Guidelines for reopening of hospitality sector publishedlast_img read more