first_img About Author: Samantha Guzman in Daily Dose, Featured, Market Studies, News Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Fannie Mae Predicts Strong Economic Growth Will Boost Housing Recovery in 2015 February 26, 2015 742 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Economic Outlook Fannie Mae U.S. Economy Previous: Freddie Mac’s Mortgage Portfolio Contracts; Serious Delinquency Rate Hits 6-Year Low Next: DS News Webcast: Friday 2/27/2015 Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Economic growth is expected to climb to 2.9 percent this year, up from 2.4 percent in 2014, according to Fannie Mae’s February 2015 Monthly Economic Outlook released on Thursday. Fannie Mae predicts this economic growth will boost the sluggish housing market into recovery.”Our forecast calls for an increase in economic growth to 2.9 percent for 2015, which is a slight downward adjustment from our prior forecast but solid improvement nonetheless,” Fannie Mae Chief Economist Doug Duncan said.The strengthening employment sector, declining commodity prices, and rising income prices are some reasons 2015 is set for a pickup, according to Fannie Mae’s Economic & Strategic Research (ESR) Group.”Although we are beginning this year at a more modest pace compared to the above-trend numbers seen at mid-year 2014, the country’s aggregate income has benefitted from the improving labor market, which, combined with low gasoline prices, should help drive higher auto sales and overall consumer spending throughout 2015,” Duncan said. “Our forecast calls for a number of factors, including strong hiring and income growth, stabilized housing affordability, and modestly easing lending standards, to translate into improving housing demand throughout the year.”However, the strong U.S. dollar weighs on the trade deficit, which may slow some growth efforts. Despite possible shortfalls with the global economy and future limited interest rate hikes, Duncan feels positive the housing industry will begin to see gradual increases.”We continue to anticipate that the Fed will begin to hike short-term interest rates later this year, although weak global economic growth and geopolitical headwinds will likely limit the rise in long-term interest rates,” he said. “We expect total home sales to increase by approximately 6.0 percent for 2015, with total single-family mortgage production climbing to approximately $1.2 trillion. Total single-family mortgage debt outstanding should be relatively flat this year before picking up gradually in 2016 and 2017.” Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Predicts Strong Economic Growth Will Boost Housing Recovery in 2015 Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Samantha Guzman is an award-winning visual journalist and graduate of the University of North Texas Mayborn School of Journalism. She specializes in visual storytelling and has skills in video, audio and photography, in addition to news writing. She has traveled to Mexico and Bosnia as an assistant for multiple multimedia projects and taught news writing, photojournalism, and narrative storytelling in the past. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Economic Outlook Fannie Mae U.S. Economy 2015-02-26 Samantha Guzman Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

first_img About Author: Brian Honea  Print This Post CFPB CFPB Director Richard Cordray Consumer Financial Protection Bureau PHH Corp. 2015-06-04 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 4, 2015 1,676 Views CFPB Fines PHH Corp. $109 Million For Mortgage Insurance Kickback Scheme in Daily Dose, Featured, Government, News Tagged with: CFPB CFPB Director Richard Cordray Consumer Financial Protection Bureau PHH Corp. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 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. center_img Previous: Single-Family Rental Market Experiencing Shift Toward South and Midwest Next: DS News Webcast: Friday 6/4/2015 Consumer Financial Protection Bureau (CFPB) Director Richard Cordray announced his decision Thursday in the first-ever appeal of an administrative enforcement proceeding by the Bureau, according to a press release from the CFPB.Cordray ruled that New Jersey-based mortgage lender PHH Corp. accepted kickbacks for illegally referring consumers to mortgage insurers. In addition to Cordray’s ruling, a final order was issued that requires the lender to obey the law and to pay $109 million to the CFPB.Administrative Law Judge Cameron Eliot stated in a Recommended Decision in November 2014 that PHH took kickbacks in the form of reinsurance premiums paid to a PHH subsidiary by mortgage insurers, a violation of the Real Estate Settlement Procedures Act (RESPA). The mortgage loans in question closed on or after July 21, 2008, according to CFPB. PHH is alleged to have begun accepting the kickback payments as early as 1995.Whereas Eliot’s decision stated that PHH’s RESPA violations were connected to loans closing on or after July 21, 2008, Cordray went beyond that ruling by saying that PHH was in violation of RESPA for every kickback payment the company accepted after that date.The Bureau first announced the administrative proceeding against PHH in January 2014 seeking a civil fine, a permanent injunction to prevent future violations, and victim restitution. The $109 million penalty handed down by Cordray on Thursday is the amount of reinsurance premiums PHH received on or after July 21, 2008, even if the loans closed prior to that date, according to the CFPB.In addition to the fine, Cordray’s final order prohibits PHH from violating the RESPA provision forbidding kickbacks and also prohibits the company from referring consumers to a real estate services provider if the provider has agreed to make any purchase from PHH as a result of that referral, the CFPB said.Cordray denied the appeal filed by PHH and its affiliates and granted in part and denied in part an appeal filed by the Bureau’s enforcement counsel, according to the CFPB.In response to Cordray’s announcement of the penalties, PHH issued the following statement: “We strongly disagree with the decision of the Director. We believe this decision is inconsistent with the facts and is not in accord with well-settled legal principles and interpretations. We continue to believe we complied with RESPA and other laws applicable to our mortgage reinsurance activities. The company did not provide reinsurance on loans originated after 2009. We intend to file an appeal to the United States Court of Appeals. While there can be no assurances as to the final outcome of any such appeal, we believe our appeal will be successful and, as a result, are not adjusting our previously issued earnings guidance.”To read the full text of Cordray’s decision issued Thursday, click here. For a copy of the initial CFPB enforcement action against PHH, click here. To view a copy of the final order, click here. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Share Save The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / CFPB Fines PHH Corp. $109 Million For Mortgage Insurance Kickback Scheme Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

first_img Tagged with: Fitch Ratings Rating Outlooks RoundPoint Mortgage Servicing Corporation Home / Daily Dose / RoundPoint’s Rating Outlook Adjusted From ‘Stable’ to ‘Negative’ RoundPoint’s Rating Outlook Adjusted From ‘Stable’ to ‘Negative’ in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago About Author: Xhevrije West Governmental Measures Target Expanded Access to Affordable Housing 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 Fitch Ratings confirmed that borrower-focused company, RoundPoint Mortgage Servicing Corporation’s (RPMS’s) residential mortgage servicer ratings have been adjusted. Fitch determined that RoundPoint’s U.S. residential primary servicer rating for subprime product is ‘RPS3+’ and the U.S. residential special servicer rating is ‘RSS3+’. In addition, the rating outlooks have been revised to ‘negative’ from ‘stable.'”Fitch has placed the servicer ratings on Outlook Negative based on the corporate restructuring,” Fitch noted. “Additionally, given elevated earnings pressure associated with corporate changes, Fitch believes the servicer’s dependency upon parent company support is now heightened in order to maintain expected balance sheet growth and meet earnings targets.”The rating affirmations are based on RPMS’s continued investment in its compliance management system, experienced management team and staff, increased automation, and enhanced servicing system and processes, Fitch says. The servicer’s effective staffing, recruiting and retention program, and its ‘White Glove’ customer service that focuses on improving customer service disciplines throughout the organization is also taken into consideration.RPMS was servicing 249,162 loans totaling $46.9 billion as of March 31, 2015, Fitch reports. This was comprised of 226,618 agency loans totaling $44 billion and 3,400 non-agency RMBS loans for $610 Million and 19,144 loans serviced for others totaling $2.1 billion.RPMS has operated as a stand-alone business entity since October 2014, according to Fitch. Shared corporate functionalities and expenses between the parent company, RoundPoint Financial Group (RPFG) and RPMS, were terminated. In addition, two of RPFG’s executive officers transitioned to the servicing operations.In October 2014, RPMS’s sister company, RoundPoint Mortgage Company (RPMC), terminated its operation as an originator of residential mortgage loans. RPMC previously provided refinancing programs and acted as a conduit for flow servicing for RPMS. Fitch does not believe that RPMC’s exit will have a material impact on RPMS’s servicing operation.”The ratings also take into consideration RPMS’s enterprise risk management practices,” Fitch said. “The servicer was fully compliant with its 2014 Regulation AB reporting and stated that it has no outstanding regulatory issues concerning its servicing platform. In addition, the ratings reflect RPMS’s enhanced default management capabilities, effective staff performance incentive and management oversight programs. The ratings also reflect the financial condition of RPMS, a non-publicly rated entity, as financial condition is a component of Fitch’s servicer ratings.” The Best Markets For Residential Property Investors 2 days ago July 21, 2015 983 Views Share Save The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Previous: First-Time Buyer Mortgage Share and Risk Indices Edge Up in June Next: DS News Webcast: Wednesday 7/22/2015 Servicers Navigate the Post-Pandemic World 2 days ago Fitch Ratings Rating Outlooks RoundPoint Mortgage Servicing Corporation 2015-07-21 xhevrijewest Demand Propels Home Prices Upward 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Subscribelast_img read more

first_img Share 1Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Kristina Brewer Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago  Print This Post Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. Home / Daily Dose / Following Fannie and Freddie Foreclosure Findings in Daily Dose, Featured, Foreclosure, Headlines, Journal, News 2018-08-07 Kristina Brewer Following Fannie and Freddie Foreclosure Findings Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: What’s Keeping Millennial Renters from Owning a Home? Next: Higher Education Costs and High Foreclosure Rates The Best Markets For Residential Property Investors 2 days ago The Federal Housing Finance Agency has released the Foreclosure Prevention Report for May 2018, a monthly update on the foreclosure data resulting from the actions of Fannie Mae and Freddie Mac. The data reported nearly 24,211 foreclosure prevention actions completed for the month, a nearly 13 percent month-over-month increase from April, bringing the total to 4,154,218 since the conservatorships began in September 2008. According to the report, over half of these actions have been permanent loan modifications.Of the total 2,218,961 permanent loan modifications produced by the conservatorships since their inception, 17,557 were produced within this time period. Twenty-six percent of modifications in May were modifications with principal forbearance. Modifications with extend term only accounted for 47 percent of all loan modifications during the month. Eight hundred and eighty-seven short sales and deeds-in-lieu of foreclosure were completed in May, a 4 percent increase from April’s reporting.The enterprises recorded that the serious delinquency rate has made slight progress, dropping from 1.03 percent at the end of April, to .97 percent at the end of the May reporting period, though third-party and foreclosure sales showed an increase to 4,624 in May from 4,410 in April.According to the report, the enterprises’ foreclosure starts decreased from 15,308 in April to 12,834 in May. This comparison reflects recent data released by CoreLogic, which shows the number of foreclosures having decreased back to pre-crisis levels nationally as of April. This report showed more homeowners remaining current on their mortgage payments thanks to factors such as unemployment rates at an 18-year low, home prices above the pre-recession peak, and high-quality underwriting. Reflecting a near 4 percent decline, foreclosures have reached .6 percent in the CoreLogic report.Read the full report here.Want to know more about Fannie and Freddie’s recent movements? Check out the articles below:Fannie Mae Earnings Increase in Q2Freddie Mac Initiative Brings Affordable Homes to Three CitiesFreddie Mac On Track to Single Security Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe August 7, 2018 1,716 Views last_img read more

first_imgHome / Daily Dose / Who are the Industry’s Top Leaders? The Best Markets For Residential Property Investors 2 days ago Who are the Industry’s Top Leaders? Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago December 6, 2018 3,944 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Radhika Ojha The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Default Servicing DS News Editor-in-Chief HOUSING leaders mortgage MReport Publisher Rachel Williams Share Save 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. Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: 2019 Trends in Real Estate Investments Next: Breaking Away From the Negative Equity Trap Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Related Articles Following its inaugural Top 25 Companies to Work list that was published in November, MReport, the sister publication of DS News, is now calling for nominations for its list of Top 25 Industry Leaders. The winners will be announced in the February issue of the magazine. Companies can send their nominations by filling out a simple survey by January 11, 2019 to recognize individuals within their organization whose subject matter expertise, charisma, or even the way they have gone above and beyond to help the team, an employee, or even someone outside the company, make them stand out in a crowd.The list will serve as a premier platform to highlight the achievements of individuals in the mortgage and housing industries who are leading by example and helping their teams and companies think outside the box to help shape and evolve the industry’s path forward.“MReport’s Top 25 Industry Leaders list will celebrate individuals whose unique perspectives are strengthening the industry’s future,” said Rachel Williams, Editor-in-Chief of MReport. “This list will honor leaders who have worked tirelessly and led by example to strengthen their teams and companies in a constantly changing market environment.”Industry experience, noteworthy awards, charity initiatives that the individual is associated with, achievements, and their styles of managing individuals and teams are just some of the factors that will be considered for individuals to make this list. Whether it is mentoring employees, an experience beyond the industry that contributes to the individual’s effectiveness now, or a mindset that’s bent towards continuous learning and accepting constructive criticism are some of the traits that will be looked at in the selection process of these individual leaders.By filling the online survey below, companies have the chance to give a shout-out to individuals who are making a positive difference in the industry and supporting the American Dream of Homeownership.Click here to nominate an individual you look up to in your company. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Default Servicing DS News Editor-in-Chief HOUSING leaders mortgage MReport Publisher Rachel Williams 2018-12-06 Radhika Ojha in Daily Dose, Featured, News Subscribelast_img read more

first_img  Print This Post Sign up for DS News Daily A slowdown in 2019 will create a healthier housing market going forward, says Tendayi Kapfidze, Chief Economist at LendingTree. In an article titled “What We Expect in Housing and the Economy in 2019,” he pointed out that while housing will slow down next year, it is not a cause for significant concern. Kapfidze is optimistic about the medium- and long-term prospects for housing “as the demographics are going to continue to support demand. With a slower price appreciation, incomes have a chance to catch up. With slower sales, inventory has an opportunity to normalize,” he said. LendingTree does not anticipate a recession this year on account of a strong labor market that will form the basis for growth. However, political tensions will add to uncertainty and volatility which may result in a loss of confidence and suppressed business and consumer spending. LendingTree’s forecast expects an increase in mortgage rates to as high as 5.5 percent in 2019. Home sales will contract marginally by 2 percent to 5 percent on an annual basis. Growth in home prices will moderate to about 3 percent year over year, with some localized decline. However, this will not lead to a national decline, the forecast indicated. It also pointed out that higher rates will affect homebuyer confidence. Growth concerns, driven by political risk and slower global growth could hold mortgage rates below 5 percent—breathing new life into the housing market, according to Kapfidze. Speaking of home appreciation, prices are projected to drop regardless of what happens to interest rates and sales. Home price growth will moderate to about 3 percent year over year. Wage growth is likely to reach 3.5 percent year over year. Abnormally low unemployment can cause a spike in inflation if wage growth approaches 4 percent, the article stated. Speaking of FED rate hikes, it indicated the likelihood of FOMC raising funds rate twice in 2019.The consumer debt of 2018 stands at $14 trillion and will continue to rise this year. “However delinquency rates are low. Although lenders may somewhat tighten underwriting standards, a strong labor market and wage growth will keep delinquencies low and encourage lending and borrowing,” Kapfidze said. The unemployment rate is expected to fall to 3.4 percent by year-end from 3.7 percent recorded at the end of 2018. GDP will drop to 2.5 percent in 2019 from 3 percent in 2018. in Daily Dose, Featured, Market Studies, News, Servicing Servicers Navigate the Post-Pandemic World 2 days ago Is the Housing Market Recession Ready? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Donna Joseph Tagged with: Economy Fed Rate Hike Home Prices Housing Market LendingTree Mortgage Rates tendayi kapfidze Data Provider Black Knight to Acquire Top of Mind 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] center_img Economy Fed Rate Hike Home Prices Housing Market LendingTree Mortgage Rates tendayi kapfidze 2019-01-11 Donna Joseph Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Related Articles The Best Markets For Residential Property Investors 2 days ago January 11, 2019 2,067 Views Subscribe Previous: The “Meaningful Attorney Involvement” Standard Next: D.C.’s Address Confidentiality Act Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Is the Housing Market Recession Ready?last_img read more

first_img January 31, 2019 2,726 Views  Print This Post The Challenges of Obtaining Mortgage Payment Assistance The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Troubles with receiving periodic mortgage statements, wrong data on statements, and challenges associated with getting mortgage loan assistance are some of the major mortgage-related complaints made by consumers according to the Consumer Financial Protection Bureau’s (CFPB’s) latest snapshot of mortgage complaints.The CFPB said that it had received around 71,000 mortgage complaints between November 1, 2016, and October 31, 2018. While a majority of these complaints (85 percent) were sent to the companies for review and response, the bureau said that the remaining complaints, around 11 percent, where the CFPB did not have the primary complaint handling responsibility were sent to other regulatory agencies.Of all the mortgage-related complaints that were received by the CFPB, 50 percent were related to conventional home mortgage loans. FHA mortgages made up 13 percent while other types of mortgage products made up 25 percent of the complaints received.Among borrowers looking at mortgage loan payment assistance, the complaints against mortgage servicers were related to disagreement or confusion over the servicer’s denial of their request for a loan modification. Other consumers who complained about problems with loan modifications reported to the CFPB that their single point of contact at the servicer was unresponsive or that they had to respond to multiple document requests.Some borrowers described the communications they received from their servicer about loan assistance as confusing, the snapshot indicated. These consumers reported being uncertain about the requirements to continue the assistance process.Consumers also complained about trouble during the payment process. This included issues with receiving periodic statements on time that resulted in a lack of information about the application of payments to a borrower’s loan or about the loan’s current status. The CFPB report indicated that some borrowers also attributed a missing statement to a recent transfer of servicing of the loan. Inaccurate data in the periodic statements was another source of problems that borrowers complained about to the CFPB and included wrong account information such as late fees assessed to a borrower’s loan despite payments made on or before the due date.The snapshot also indicated that consumers complained about servicers not applying payments to their loan account as intended, with some complaints highlighting that despite submitting extra payments with instructions to apply those to the principal, they were either misapplied or held in an unapplied funds account or applied only after their inquiry with the servicer.Click here to read the full report. Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Challenges of Obtaining Mortgage Payment Assistance Share Save Borrowers CFPB consumers Lenders Loan Assistance Loan Modification loans mortgage payment Servicers statements 2019-01-31 Radhika Ojha 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Borrowers CFPB consumers Lenders Loan Assistance Loan Modification loans mortgage payment Servicers statements Related Articlescenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Servicing Previous: Who is FHFA’s New Chief of Staff? Next: Top 25 Women of Law, Part 3 Sign up for DS News Daily Subscribelast_img read more

first_img in Daily Dose, Featured, News November 13, 2020 1,276 Views The Week Ahead: FHA Discusses CWCOT Changes Servicers Navigate the Post-Pandemic World 2 days ago Share Save Sign up for DS News Daily This week, on Wednesday, November 18, representatives from the Federal Housing Administration (FHA) via a complimentary webinar will offer guidance on the Claims Without Conveyance of Title (CWCOT) program “in which the mortgagee attempts to secure a third-party purchaser for the mortgaged property so that conveyance to HUD is not required in exchange for mortgage insurance benefits,” according to an FHA notice regarding the virtual event.A similar webinar was offered earlier this month. It is offered on two separate dates to maximize attendance, according to the FHA.As the FHA explained in a July statement, the most recent CWCOT enhancements take into consideration public feedback received earlier this year when a first draft was posted on the Single-Family Housing Drafting Table.FHA’s CWCOT program and recent adjustments were designed to make the program “more viable for foreclosure sales associated with defaulted FHA-insured mortgages,” the FHA added in the same statement. Industry experts discussed HUD’s recent updates to the CWCOT program to help improve efficiencies and minimize losses, during a complimentary DS News webinar that can be revisited here.Topics will include:Enhancements to the program announced in Mortgagee Letter 2020-21, servicer participation and eligibilityHow foreclosing on FHA properties may differ from previous guidelinesRequirements for appraisals, bidding instructions, and claim requirementsThis week’s webinar, which takes place from 1-2:30 p.m. (CST), is complimentary when you register here.Here is what else is happening in the week ahead:Construction Spending Report, U.S. Census (Monday)House Financial Services Committee Hearing, “Insuring against a Pandemic: Challenges and Solutions for Policyholders and Insurers” (Thursday)RCLCO, “2020, The Year of the Suburb?” (Thursday) Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: FHFA Releases Foreclosure-Prevention Report Next: Mortgage Professionals Gather to Discuss Diversity and Inclusion  Print This Post About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2020-11-13 Christina Hughes Babb Related Articles 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 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. The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Week Ahead: FHA Discusses CWCOT Changes Subscribelast_img read more

first_img  Print This Post 99Santa Ana, CA56.36$289,561$501,400$33,144874%58% Share Save Home / Daily Dose / Regions With the Most Overleveraged Mortgagers March 24, 2021 1,343 Views The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago 99Lahaina, HI58.98$390,616$684,500$42,356922%57% 99Ewa Beach, HI62.25$378,795$561,600$40,636932%67% 99McKees Rocks, PA62.15$114,874$56,500$35,280326%203% Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The past year—a pandemic plagued one—has proved an interesting time to attempt any major life change, and that includes purchasing a home. Many on-the-fence renters or homeowners looking for more space were prompted by low interest rates to pull the trigger. There’s a solid chance that any recent homebuyer paid more than the asking price, due to supply shortages and increased competition.Those who didn’t take all of the prudent measures—including taking the time to boost credit in order to lock in the best possible rates, something the experts at WalletHub, which just conducted a study on overleveraged mortgagers, have suggested—might be facing a hint or even a significant sense of buyer’s remorse.In its report, WalletHub decided which cities are home to the most overleveraged mortgage debtors by comparing the median mortgage balances against the median income and median home value in more than 2,500 cities.Source: WalletHubWillis, TX tops WalletHub’s list with a 168% mortgage debt-to-house value ratio and 555% mortgage debt-to-income ratio, which led to a high “WalletHub Home Overleverage Score” of 66.57.Right behind Willis is Dumfries, Virginia, followed by Bell Gardens, California, Ewa Beach, Hawaii, and, rounding out the top five, McKees Rocks, Pennsylvania. 99Willis, TX66.57$141,804$84,500$25,570555%168% 99Kahului, HI61.37$374,859$619,000$39,691944%61% Previous: Prospective Homeowners Face Increasing Changes, Challenges Next: Ginnie Mae Enhances MBS Data Disclosure in Daily Dose, Featured, Market Studies, News 2021-03-24 Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. The Best Markets For Residential Property Investors 2 days ago 99Santa Maria, CA54.5$252,636$348,700$32,329781%72% Related Articles Regions With the Most Overleveraged Mortgagers 99Dumfries, VA66.49$280,392$213,300$39,079718%131% About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago 99Watsonville, CA54.28$283,823$477,200$34,002835%59% Servicers Navigate the Post-Pandemic World 2 days ago Experts warn about getting caught up in today’s low-rate-infused buying frenzy.”Buying a home is a huge financial commitment for most families. Mortgage interest rates are still historically low, making mortgage payments financially feasible for many households,” said Jonathan Halket, Real Estate Fellow at Mays Business School at Texas A&M University. “However, these historically low rates have been priced into many housing markets already—house prices are high. Furthermore, inventory is low, so depending on the market, there may be few choices within your budget. Paying top dollar to commit yourself to a house that is not the one you want to live in just to access a cheap mortgage is probably not a good idea.”Halket has some recommendations for the overcommitted, such as reducing expenses or refinancing, but for someone who just taken on too large a mortgage and will likely never be able to comfortably afford to make the payments, he says, “downsizing as gracefully as possible is probably your best bet. This can be hard to swallow but doing it sooner before you are in deeper financial difficulty, can be key.”While they all concur it’s more difficult to do in advance than in hindsight, experts say there are ways to tell if the homes in a particular market are overpriced.For many of the larger metropolitan areas, the Case-Shiller indexes provide a time trend of housing prices and are available for free on the Federal Reserve Bank of St. Louis’ FRED economic data repository (DS News also regularly reports the Case-Shiller HPI results), shared finance professor Brian Payne.He says another source of information involves local housing market affordability indexes, which measure housing costs relative to income for local areas. One example is the “Housing Affordability” resource at the University of Nebraska at Omaha website.Halket also suggests taking a look at rents in the market in question. He says, “If you can rent a comparable property for less than the mortgage payment plus the property tax, then it might be overpriced.”More insights on the topic from several experts is available on WalletHub.com. Percentile Rank*CityWalletHub Home Overleverage Score**Median Mortgage DebtMedian House ValueMedian IncomeMortgage Debt-to-Income RatioMortgage Debt-to-House Value Ratio 99Bell Gardens, CA62.57$260,390$415,200$27,257955%63% Demand Propels Home Prices Upward 2 days agolast_img read more

first_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Pinterest Police and fire service personnel are currently attending a fire at Altnagelvin Hospital in Derry. The entrances to the hospital have been closed to all non-emergency personnelPolice have confirmed that the evacuations of several wards has begun. There are no reports of any injuries at this time.It is thought the fire may have started on the hospital’s roof leading to the collapse of water tanks. Floors 9 and 10 have been effected.The Western Health Trust says that the evacuation is being facilitated by Translink and their bus service.The trust, in a statement, added that  it was “reassuring the public that there are no injuries and the incident is under control”. Facebook Google+ Emergency services tackle fire at Altnagelvin Hospital Pinterest Facebook By News Highland – November 23, 2012 WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton RELATED ARTICLESMORE FROM AUTHORcenter_img Calls for maternity restrictions to be lifted at LUH WhatsApp News Twitter Twitter Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Previous articleDrivers urged to exercise caution as temps are set to dipNext articleCalls for public toilets to be installed in Rathmullan News Highland Guidelines for reopening of hospitality sector published Three factors driving Donegal housing market – Robinson Google+last_img read more