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Single-Family Housing Market is Making ‘Slow But Steady Progress’

first_img Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News Previous: DS News Webcast: Wednesday 3/16/2016 Next: Banking Industry Begins Preparation for Higher Credit Costs Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Confidence among home builders has been on a series of ups and downs over the last few months, showing slow but continued progression in the single-family sector, but they are still faced with concerns about labor and lot shortages.Home builder confidence in the market for newly-built single-family homes was flat for the month of March at 58, according to the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).Last month, builder confidence came in at 58, down from January’s 61 and seven points lower than its recent peak  of 65 in October. That said, the index is still well above the tipping point of 50 and three points above last February’s number.“Confidence levels are hovering above the 50-point mid-range, indicating that the single-family market continues to make slow but steady progress,” said NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Illinois.  “However, builders continue to report problems regarding a shortage of lots and labor.”The NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Any number over 50 indicates that more builders view conditions as good than poor.According to the NAHB, the HMI component gauging current sales conditions was steady in March at 65, while the index measuring sales expectations in the next six months dropped three points to 61. In addition, the component that measures buyer traffic increased four points to 43, the report noted.“While builder sentiment has been relatively flat for the last few months, the March HMI reading correlates with NAHB’s forecast of a steady firming of the single-family sector in 2016,” said NAHB Chief Economist David Crowe. “Solid job growth, low mortgage rates, and improving mortgage availability will help keep the housing market on a gradual upward trajectory in the coming months.”Crowe added that the stable but modest level of sentiment aligns with recent construction and sales reports. The Census Bureau and HUD recently reported that January single-family start and permits were down but remained well above the 2015 annual averages. Meanwhile, new homes sales also fell in January but are expected to bounce back.”Builders remain concerned about the availability and cost of labor and land,” Crowe said. “Higher costs for those two elementary feeds into home building are driving up the price of homes and making it even more difficult to answer the budding demand from first time home buyers. Increased equity in the hands of existing homeowners allow those buyers to trade up but still leaves the first time buyer stretched.”He continued, “The March reading of the HMI is in line with NAHB’s expectation for a modest but steady increase in home sales as buyers do begin to leave their winter hibernation, look around for new home options and finally break that pent up demand dam.” Demand Propels Home Prices Upward 2 days ago Single-Family Housing Market is Making ‘Slow But Steady Progress’ Share Save Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img Home / Daily Dose / Single-Family Housing Market is Making ‘Slow But Steady Progress’ Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Housing Market Single-Family Homes 2016-03-16 Brian Honea March 16, 2016 1,084 Views Tagged with: Housing Market Single-Family Homes Servicers Navigate the Post-Pandemic World 2 days ago About Author: Xhevrije West 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. Subscribe  Print This Postlast_img read more

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Americans Migrated West and South in 2017

first_img January 2, 2018 1,976 Views Demand Propels Home Prices Upward 2 days ago About Author: David Wharton  Print This Post Share Save The Best Markets For Residential Property Investors 2 days ago States in the Mountain West, Pacific West, and the South saw strong inbound migration for 2017, according to United Van Lines’ 41st Annual National Movers Study. The Study tracks state-to-state migration patterns during a given year. For 2017, Vermont, Oregon, and Idaho topped the list of predominantly inbound states. Meanwhile, states in the Northeast and Midwest saw more people moving out than moving in during the year.Vermont was clearly doing something right in 2017, as 68 percent of the total moves in or out of the state for the year were inbound. That’s nearly the mirror opposite of Illinois’ numbers, which saw 63 percent of its 2017 moves being outbound.States in the Pacific and Mountain West saw quite a bit of inbound migration for the year, with Oregon (65 percent inbound), Idaho (63 percent inbound), Nevada (61 percent inbound), Washington (59 percent inbound), and Colorado (56 percent inbound) all proving strong performers in 2017. Overall, the Mountain West region saw 54 percent of its moves as inbound during the year. The Southern states were close behind with 52 percent of total moves being inbound.The Northeast trended the other direction for the year. Illinois’ 63 percent outbound total was followed by New Jersey (also 63 percent outbound), New York (61 percent outbound), and Connecticut (57 percent outbound).Michael Stoll, economist and professor in the Department of Public Policy at the University of California, Los Angeles, said, “This year’s data reflects longer-term trends of movement to the western and southern states, especially to those where housing costs are relatively lower, climates are more temperate, and job growth has been at or above the national average, among other factors. Stoll also highlighted continued migration to the Pacific Northwest and Mountain West “as young professionals and retirees leave California.”The top 10 inbound states for 2017, according to the National Movers Study, included:VermontOregonIdahoNevadaSouth DakotaWashingtonSouth CarolinaNorth CarolinaColoradoAlabamaOn the other end of the spectrum, the top 10 outbound states for 2017 were:IllinoisNew JerseyNew YorkConnecticutKansasMassachusettsOhioKentuckyUtahWisconsinThe study was based on “household moves handled by United within the 48 contiguous states and Washington, D.C.” A state is classified as “high inbound” if 55 percent or more of the moves are going into a state, and “high outbound” if the same percentage are moving out. You can read the entire study, as well as see an interactive map of the data, by clicking here. Sign up for DS News Daily Tagged with: annual national movers study migration united van lines annual national movers study migration united van lines 2018-01-02 David Wharton Home / Daily Dose / Americans Migrated West and South in 2017 Americans Migrated West and South in 2017 The Week Ahead: Nearing the Forbearance Exit 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles 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 in Daily Dose, Featured, Journal, Market Studies, News Previous: HELOC Rates Could Jump 75 Basis Points in 2018 Next: Spend the Money, Fix the Roads, Woo the Homebuyers Demand Propels Home Prices Upward 2 days agolast_img read more

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Bettering Mortgage Link by Link

first_img The Best Markets For Residential Property Investors 2 days ago Tagged with: Bettering Mortgage Link by Link blockchain distributed ledger FinTech Print Features Bettering Mortgage Link by Link  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago March 11, 2018 2,625 Views Previous: Bankruptcy Judge Backs Lehman Brothers in RMBS Suit Next: The Week Ahead: Home Builders Weigh in Servicers Navigate the Post-Pandemic World 2 days ago Bettering Mortgage Link by Link blockchain distributed ledger FinTech Print Features 2018-03-11 David Wharton Related Articles Demand Propels Home Prices Upward 2 days ago Editor’s note: this feature originally appeared in the March issue of DS News, out now.You have to look no further than the front page of the Wall Street Journal to learn about Bitcoin these days. Its exponential rise in price has captured the attention of both Wall Street and Main Street alike, but because of its price volatility, its questionable source of value, and the security breaches resulting in theft from exchanges, many people continue to view Bitcoin as a house of cards built on thin air headed for an inevitable collapse. If you dismiss Bitcoin as just noise, you’re overlooking the most important thing about Bitcoin—it utilizes blockchain technology, the most revolutionary technology that has entered the marketplace in decades.To stay relevant in the fintech sector, it’s important to at least have a basic understanding of blockchain technology, and the use cases being explored today that could have an impact on mortgage markets.Blockchain in Plain EnglishBlockchain, at a basic level, is a new way of keeping track of information between parties who need to share and trust that information. Many of the blockchain pilots underway today are simply trying to store and share data in a more efficient, secure, and transparent manner.“All blockchains or similar ‘distributed ledger technologies’ have a common set of characteristics,” said Ashley Lannquist in a “Blockchain at Berkeley” blog. Lannquist explains that blockchains are “digital ledgers or logs that record electronic transactions that occur between two parties. The two parties do not know each other and directly engage in a peer-to-peer network of connected computers. Rather than relying on a third-party middleman (ex. PayPal, a bank, etc.), the network collectively reaches agreement (‘consensus’) on which transactions are legitimate using a consensus mechanism. By ‘legitimate’, we mean that, for example, Alice sends money to Bob and does not spend the same digital currency twice (called a ‘double spend’) or do anything else malicious.”Each type of blockchain platform can have a different set of rules for how a consensus must be reached to determine the legitimacy of a block, but all mechanisms entail a system where the validators, often referred to as miners, are incented through rewards and/or transaction fees to only approve blocks that contain legitimate transactions, and then others in the network must agree with the determination (reaching a consensus). Once a block of data is validated as legitimate, it becomes a permanent record and is then linked to the next block to form a chain. Blockchain technology could be used to keep track of any store of value including, but not limited to, account balances, arbitrary pieces of data, or asset ownership.There are certain blockchain platforms that were developed in a way that allows for more sophisticated applications to be built on top of them, such as the Ethereum smart contract platform. Many of the applications being developed in the banking industry revolve around “smart contracts,” which really aren’t contracts, but can be better described as self-executing software protocols that allow for certain actions to automatically happen when a dependent event takes place. There isn’t room for any gray areas, but if a company could define “if this, then that” scenarios, the application could administer the transaction without an intermediary. For example, if a master servicer wanted to sell servicing rights to a specialty servicer, but only when a certain portfolio reaches a delinquency percentage of x, a smart contract could theoretically be programmed to automatically administer that transaction when the preset qualifications are met. In this way, a blockchain with a smart contract application guarantees that the contract is carried out as intended without anyone managing it.Additionally, if the parties making the transactions know and trust each other, they can create a private and permission-based blockchain, allowing for the enterprise use to skyrocket. For example, a private permission-based blockchain can be limited to a group of financial institutions that want to share information and transact with each other regularly. The members can all be participants in the blockchain but could limit the visibility of any single transaction to only certain members who need the information, such as the two banks exchanging funds and their regulator. There are already consortiums of banks across the globe working on blockchain solutions to replace archaic systems that plague the banking industry.Putting Theory to the Test REAL ESTATE | One notable pilot program for blockchain technology came out of Cook County, Illinois. The Cook County Recorder of Deeds partnered with a California-based real estate tech start-up to explore how land records could be recorded utilizing blockchain technology with the goal of figuring out how to complete a real estate transaction without the need for paper. Although the pilot fell short of that goal, it did prove that the conveyance itself could be documented with all of the necessary information needed for the public land records index, and also that cryptographic signatures rather than wet signatures could be used. The primary roadblock that could not be overcome were the legal requirements for providing paper legal notice of that transaction, and so the pilot’s proposed workflow was required to utilize a Confirmation Deed that would be traditionally recorded to evidence the transaction.4 Only Arizona and Vermont have passed laws officially recognizing the legitimacy of information stored on a blockchain.5 However, the Cook County pilot was successful insofar as it demonstrated what could easily be done in the future in the United States if there is a better understanding and adoption of this technology by both the mainstream public and lawmakers. The Republic of Georgia, for example, is the first government to register land titles and track real estate ownership with a blockchain.BANKING | Because blockchains are a great store of value and can securely house data, it makes sense that the leading industry in blockchain technology development is the finance industry. The banking industry, so far, has been focused on capital market applications like the clearing and settlement of trades, global payment processing between institutions, and other more potentially relevant uses to the mortgage industry, like identity verification and loan syndication.7 Even Jamie Dimon, CEO of JPMorgan Chase, who is one of the loudest critics of Bitcoin, is a huge advocate for blockchain technology. Chase has been developing Quorum, a permissions-based private enterprise focused blockchain built on top of Ethereum’s smart contract platform. The company also is a member of IBM’s Hyperledger, which includes other member companies like R3, builder of a new distributed ledger operating system for financial markets, which it hopes to make available in 2018.Other notable financial focused blockchains include the private consortium blockchain called Ripple. Ripple allows participating banks “to process cross-border payments in real time with end-to-end tracking and certainty.” It has attracted at least 75 banks, including Bank of America and Santander. Chain, another notable technology company, has partnered with institutions like Citi, Capital One, Fidelity, and NASDAQ, and is focused on facilitating transactions between entities directly, aiming to decrease costs and increase throughput.All of this demonstrates that the effort to utilize this new technology in banking is underway, and will modernize the operating infrastructure that we know today.MORTGAGE SERVICING | Dovetailing the real estate and banking use cases, it is not hard to imagine blockchain applications being successfully deployed in the mortgage industry, and especially the mortgage servicing space. Servicers oftentimes rely on largely obsolete operating systems but must comply with the most stringent regulatory requirements of any industry, demanding quick and accurate production of data for audits. They also must make data-driven decisions based on the current value of real property collateral and loan status, requiring the need to pull from many different sources to take any single action. Blockchain could be utilized to bring all of this information together to make it more readily accessible. Possibilities include the storage of loan origination and property information, payment processing, and self-executing smart contracts that can automatically determine a change in loan status. In the future, many of the servicing functions done today could be disintermediated by this technology. Even entire business functions, like work performed by third-party closing attorneys and escrow companies, could theoretically be replaced by a peer-to-peer blockchain solution. There are already companies that have created enterprise-level blockchain solutions specific to the mortgage industry, which aim to accomplish these very things, including one announced in  March 2017 called Factom Harmony.Change Is Coming Blockchain technology is new, and, like any emerging technology, continues to evolve. What we all know to be true is that technology doesn’t wait for you to catch up with it. It may be years before the technology becomes mainstream, but with its revolutionary potential in sight, and when taking into consideration the amount of money already invested and the visible progress made to date, there is no doubt that blockchain will continue to gain a broader acceptance. Keeling is Managing Partner for McCarthy & Holthus, LLP. She oversees the Southwest Default Services and TitleCurative Practice groups. She is a Martingale-Hubble AV-rated attorneylicensed in the states of California andWashington. She earned her law degree from the University of San Diego School of Law in 2007. In 2014, she was named as one of MReport’s Women in Housing “35 Under 35,” featuring leading female executives in the mortgage and housing industry. She has been annually recognized as a Top Lawyer by San Diego Magazine since 2015. in Daily Dose, Featured, Headlines, News, Print Features, Servicing Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Bettering Mortgage Link by Link The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Subscribe About Author: Katie Jo Keeling Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Your Pre-Foreclosure Crash Course

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, News, REO, Servicing  Print This Post Home / Daily Dose / Your Pre-Foreclosure Crash Course Servicers Navigate the Post-Pandemic World 2 days ago Share Save Federation of REO Certified Experts Five Star FORCE FORCE FORCE webinar Hastings Brokerage Jim Hastings Webinars 2018-04-25 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 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] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Mulvaney: “The CFPB Never Existed” Next: Is Homeownership Becoming Less Stressful?center_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily April 25, 2018 3,062 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Federation of REO Certified Experts Five Star FORCE FORCE FORCE webinar Hastings Brokerage Jim Hastings Webinars In this exclusive webinar presented by the Five Star Federation of REO Certified Experts (FORCE), dive into the best practices for loan modifications, short sales, initial occupancy inspections, squatters, cash-for-keys, deed-in-lieu, evictions, and lockouts. Your host is Jim Hastings, FORCE Advisory Council Vice Chair and Broker/Owner of Hastings Brokerage.You can see view archived FORCE webinars by clicking here.Video Playerhttp://dsnews.com/wp-content/uploads/2018/04/2018-04-18-12.04-Pre-Foreclosure-Crash-Course.mp400:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Demand Propels Home Prices Upward 2 days ago Your Pre-Foreclosure Crash Course Subscribelast_img read more

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Loan Mods and Liquidation Decline

first_img About Author: Radhika Ojha Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Affordability Defaults Delinquencies Homebuyers Homeowners Liquidation Loan Modifications Mods Urban Institute 2018-07-03 Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share 1Save Previous: Rents Accelerate in Major Metro Areas Next: Wells Fargo Gives Boston Homeowners a LIFT July 3, 2018 1,694 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Total loan modifications equaled total liquidations in June, according to a snapshot of the housing market published by the Urban Institute’s Housing Finance Policy Center. Citing a report by Hope Now, the center’s Monthly Chartbook indicated that around 8.3 million borrowers had received a loan modification since the third quarter of 2007 compared with around 8.6 million liquidations in the same period. “Modifications and liquidations have slowed significantly over the past few years,” the report said. “In Q1 2018, there were just 59,537 proprietary modifications and 56,137 liquidations.”Looking at the numbers for negative equity and serious delinquency during the period, the report indicated that properties in negative equity as a share of all residential properties with a mortgage edged down to 4.71 percent in the first quarter of 2018. Residential properties that were near negative equity comprised another 1.18 percent of the total residential properties with a mortgage. This, Urban Institute said, was because of the continuing appreciation of home prices.Ninety-day delinquencies, which had seen a sharp rise after last year’s hurricanes also declined from 1.72 percent to 1.45 percent in the first quarter of 2018. The percentage of loans in foreclosure also continued to decline to 1.16 percent, the report said. Combined delinquencies totaled 2.61 percent in Q1 2018, down from 2.91 percent in the last quarter of 2017 and 2.76 percent during the same period a year ago.The report also took a close look at housing affordability with a particular focus on the first-time homebuyer (FTHB). “As of April 2018, the share of median income needed for the monthly mortgage payment with a 20 percent down payment stood at 23 percent. With a 3.5 percent down payment, the share of income is higher, at 26 percent in April 2018,” Urban Institute said in its report. If interest rates rise to 5.3 percent, the housing expenses to income share with both a 20 percent and a 3.5 percent down payment would be the same as the 2001-03 averages,” indicating that homes remained affordable by historical standards despite price increases over the last five years.It indicated that the increase of FTHBs in the market had increased over the last few years in part because of the expanding economy, but their increasing share was mostly driven by a pullback of repeat buyers from the market. “Between 2000 and 2007, repeat buyers accounted for anywhere from 1.4 million to 1.8 million home purchases per year, while FTHBs drove anywhere from 900,000 to 1.3 million annual home sales,” the report said. “Today the two have traded places as in 2017, repeat buyers were responsible for just over a million home purchases, while FTHBs bought close to 1.5 million homes”The report indicated that the reversal in this trend was mainly due to homeowners not wanting to move from the low mortgage rates they had locked in during the previous years. in Daily Dose, Featured, Loss Mitigation, News Home / Daily Dose / Loan Mods and Liquidation Decline Tagged with: Affordability Defaults Delinquencies Homebuyers Homeowners Liquidation Loan Modifications Mods Urban Institute 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles 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. Loan Mods and Liquidation Decline The Best Markets For Residential Property Investors 2 days agolast_img read more

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Investment Update: Rents on the Rise

first_img Tagged with: Rent Share Save 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Rents are on the rise, according to the October Zillow Real Estate Market Report, falling in only two of the 35 largest metros. However, as Zillow notes, this rate of growth has slowed in each of the past three months, but growth is expected to continue through the end of the year.The two markets where rents dropped were Columbus and Houston, where rents dropped 1.8% and 0.6%, respectively.Zillow adds, “What’s more, the rate of appreciation has increased since a year ago in 26 of those large markets, most significantly in Las Vegas (3.1 percentage-point gain), Kansas City (2.8 percentage-point gain) and New York (2.3 percentage-point gain).”The hottest rental markets were Phoenix (up 6.4% annually), Las Vegas (up 5.2%) and Charlotte (up 4%).”Despite some fearful headlines, the U.S. economy keeps on trucking, and that is reflected in the continued rent growth across the country. The unemployment rate remains near record lows and wage growth keeps adding to renters’ pocketbooks,” said Zillow Director of Economic Research Skylar Olsen. “The story of today’s rent growth is far from just that of a few expensive superstar cities – rather, growing demand for rental housing is bumping up against limited housing supply and low vacancies all across the country.”In home prices, San Jose and San Francisco were the only two large markets that saw home values fall year-over-year. Home values are down 11.1% annually in San Jose and 3% annually in San Francisco. Home values also fell month-over-month in Dallas and Indianapolis, marking the first monthly drops since May in each market.Mortgage rates listed on Zillow rose slightly in October. Rates reached their monthly low of 3.55% on October 4, then peaked at 3.76% on October 11. Rates ended October at 3.6%, up one basis point from the start of the month. Home / Daily Dose / Investment Update: Rents on the Rise November 29, 2019 1,228 Views  Print This Post Previous: Eye on Recent Delinquency Rate Increases Next: Gen Z’s Thoughts on Renting vs. Buying Servicers Navigate the Post-Pandemic World 2 days ago Rent 2019-11-29 Seth Welborn The Best Markets For Residential Property Investors 2 days ago Related Articlescenter_img Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Investment Update: Rents on the Rise in Daily Dose, Featured, Investment, News Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more

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FHFA’s Stats on Mortgage Loan Performance in 2020

first_img Previous: Damaged Economy Hasn’t Slowed Rise in Home Equity Next: DS5: Why the Public Capital Market is Attracting Lenders Share Save  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 1 day ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Veronica Bradley has covered the consumer packaged goods industry, the tech industry, the healthcare industry, and a few other industries that impact people’s daily lives. When she isn’t researching and writing, she moonlights as an amateur accountant and bookkeeper for a small family brewpub, because unlike most writers, she isn’t afraid of numbers. 2021-02-04 Christina Hughes Babb When the coronavirus pandemic prevented many Americans from working, many wondered what would happen in the housing market. After all, no employment, no paycheck, no paying the mortgage. The Federal Housing Finance Agency (FHFA) says that calculating the number of Americans who are having difficulty paying for their homes may be difficult considering new rules and regulations related to the pandemic response.During 2020, mortgages reported to the credit bureaus as delinquent plunged to 1.0% (as shown in the figure below).  The percentages over the past year for mortgages that were seriously delinquent and mortgages in the process of foreclosure, bankruptcy, or deed-in-lieu remained flat,” according to an FHFA press release. “As a result of these trends, the median credit score of mortgage borrowers, as measured by VantageScore on borrowers of active mortgage loans, has actually risen slightly in 2020.”Based on that information, it would appear that most borrowers aren’t having any trouble keeping up with their mortgages. However, the CARES Act (short for Corona Virus Aid, Relief, and Economic Security Act) allowed people to skip payments without damaging their credit scores or having their mortgages flagged as past due on their credit reports.Data presented in the figure below, drawn from the National Mortgage Database (NMDB) sponsored by FHFA and CFPB, show the national impact of these components of the CARES Act.  The data shown are based on what the past-due status of mortgages reported to the credit bureaus would be if a credit report were pulled for every borrower on the last day of the month.Their mortgage status would remain at whatever it was when the CARES Act passed. Therefore, if they were current on their payments, but then missed one after the act passed, no harm would come to their credit and their actual status would be difficult to determine.So, when looking at mortgage performance statistics, it’s important to keep all of this in mind.In 2020, mortgages reported 30 to 60 days late fell to 1.0%. Mortgages that were 90 to180 days past due fell to 0.6%. And mortgages that resulted in foreclosure, bankruptcy, or deed-in-lieu remained flat at 0.3%.Overall median credit scores for mortgage borrowers rose slightly in 2020, according to VantageScore.If the provisions in the CARES Act were removed, it’s likely that by the end of October 2020, past-due mortgages would be three percentage points higher. However, a more accurate assessment of how the pandemic impacted mortgages most likely won’t be available until after the crisis ends. About Author: Veronica Bradley Home / Daily Dose / FHFA’s Stats on Mortgage Loan Performance in 2020 Demand Propels Home Prices Upward 1 day ago Data Provider Black Knight to Acquire Top of Mind 1 day ago The Best Markets For Residential Property Investors 2 days ago February 4, 2021 1,283 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago FHFA’s Stats on Mortgage Loan Performance in 2020 in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Demand Propels Home Prices Upward 1 day ago Related Articleslast_img read more

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ICSA describe proposed changes third level maintenance grants as “lunacy”

first_imgNews Pinterest Calls for maternity restrictions to be lifted at LUH Google+ ICSA describe proposed changes third level maintenance grants as “lunacy” WhatsApp RELATED ARTICLESMORE FROM AUTHOR By News Highland – August 9, 2012 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Facebookcenter_img Twitter Previous articleDonegal IFA:Grant reforms could see a 60% drop in those going on to 3rd levelNext articleRow between Ceann Comhairle and Flanagan “political banter” – Deputy Doherty News Highland Pinterest WhatsApp Three factors driving Donegal housing market – Robinson The Irish Cattle and Sheep Farmers’ Association has described as “lunacy” proposed changes to the assessments of third level maintenance grants.It’s thought that the changes may see productive assets, such as farmland and machinery, being included in the means testing of the grants.The I-C-S-A says it’s worried such changes could result in children from low income farm families being excluded.President Gabrielle Gilmartin says farmers simply won’t be able to send their children to third level if this happens:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/08/08gilm1.mp3[/podcast] Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week Guidelines for reopening of hospitality sector published Google+last_img read more

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Strabane denied 800 Department of Agriculture jobs

first_img Facebook Facebook WhatsApp RELATED ARTICLESMORE FROM AUTHOR Twitter Twitter Pinterest A leaked memo has revealed that Strabane topped a table of suitable locations for 800 Civil Service jobs, but still lost out to Ballykelly.A document shows that 23 areas were shortlisted as potential locations for the Department of Agriculture headquarters.Officials then used nine points of critieria, including availability of jobs, employment deprivation, earnings and population trends, to draw up a ranked list. Strabane came out ahead of all other areas.In September it was announced that the North’s Department of Agriculture would move from Belfast to Ballykelly with the new offices being based at the site of the former Shackleton Army barracks.At the time West Tyrone MLA Joe Byrne questioned the decision, and he’s now looking for it to be overturned….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/10/joeb.mp3[/podcast] News HSE warns of ‘widespread cancellations’ of appointments next week Pinterest By News Highland – October 11, 2012 center_img Previous articleGovernment denies that ambulance took 48 minutes to get to injured joggerNext articleThird Chinese man arrested in relation to Malin drugs haul News Highland Dail to vote later on extending emergency Covid powers Man arrested in Derry on suspicion of drugs and criminal property offences released Google+ WhatsApp Google+ Strabane denied 800 Department of Agriculture jobs PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republiclast_img read more

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Prosecutions could be close as cross border dumping investigations continue

first_img Google+ Prosecutions could be close as cross border dumping investigations continue By News Highland – May 7, 2012 Gardai continue to investigate Kilmacrennan fire Facebook Further drop in people receiving PUP in Donegal Pinterest Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry Twitter Newsx Adverts Authorities on both sides of the Border are said to be closing in on companies responsible for large-scale illegal dumping 10 years ago.Prosecutions are being sought against a number of firms who illegally transported 250,000 tonnes of household and commercial waste across the Border to be buried, with files being prepared on both sides of the border.Today’s Irish Independent reports that Files are being prepared for the Director of Public Prosecutions in the Republic and the Crown Prosecution Service in the North over 17 illegal dumping sites. The rubbish was brough across the border between 2001 and 2004, and instead of being brought to legal landfills, it was dumped at knockdown prices at unlicensed private sites.The Environmental Protection Agency in the Republic and the Northern Ireland Environment Agency (NIEA) have been investigating those suspected of being behind the illegal dumping for the past two years.Already the NIEA has secured three convictions against a number of property owners for illegally depositing waste from the Republic.A total of 50,000 tonnes of waste has already been brought back across the border and properly disposed of in Donegal and Louth.A recent study said insufficient enforcement of cross-border waste shipment regulations by local authorities, particularly in the Republic, is one of the reasons for the widespread illegal dumping.center_img Previous article“I won’t resign” says Cardinal Brady during Lough Derg visitNext articleDonegal Live Register figures fall again News Highland WhatsApp Google+ RELATED ARTICLESMORE FROM AUTHOR Twitter 365 additional cases of Covid-19 in Republic Main Evening News, Sport and Obituaries Tuesday May 25th Facebook 75 positive cases of Covid confirmed in North WhatsApplast_img read more