Month: May 2021

Michigan Sees Surge in 12-Month Sum of Completed Foreclosures

first_img 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. in Daily Dose, Featured, Foreclosure, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Quandis Launches Website Aimed at Assisting Servicemembers Next: New York AG Announces App to Help Homeowners Avoid Foreclosure Rescue Scams  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe About Author: Brian Honea completed foreclosures Michigan Serious Delinquency Rate 2014-12-05 Brian Honea Demand Propels Home Prices Upward 2 days ago Tagged with: completed foreclosures Michigan Serious Delinquency Rate The number of completed foreclosures in Michigan took a huge turn upward for the 12-month period ending October 31, jumping 55 percent from the 12-month total ending on September 30, according to CoreLogic’s October 2014 National Foreclosure Report released on Thursday.The Great Lakes State reported 45,000 foreclosure completions the 12-month period from November 2013 to October 2014, up from the total of 29,000 reported in September, according to CoreLogic. The number of completed foreclosures in Michigan for October was second only to Florida (118,000) among states.Michigan’s serious delinquency rate, or percentage of mortgage loans that are 90 days or more overdue, was reported at 3.2 percent for October 2014, a full percentage point below the national average of 4.2 percent, CoreLogic reported. Michigan’s foreclosure inventory, or the percentage of homes in any state of foreclosure, was 0.6 percent for October, also a full percentage point behind the national average of 1.6 percent.The 12-month sum of foreclosures for the period ending in October 2014 totaled slightly more than 561,000, according to CoreLogic. Completed foreclosures nationwide have declined for 36 consecutive months and are at their lowest level since October 2007.Just as they had in August and September, the same five states accounted for nearly half of all completed foreclosures during the 12-month period ending October 31, 2014, CoreLogic reported. Florida (118,000), Michigan (45,000), Texas (36,000), California (29,000), and Georgia (28,000) combined accounted for approximately 256,000 foreclosure completions for the 12-month period, or 45.6 percent of the nearly 561,000 completed foreclosures nationwide for that period, CoreLogic reported. Florida is the only one of those five states that is judicial, meaning the foreclosure process has to pass through the courts to be complete.The lowest totals of completed foreclosures for the 12-month period ending October 31, 2014, were in South Dakota (59), Washington, D.C. (70), North Dakota (257), West Virginia (515), and Wyoming (574), CoreLogic reported.Overall nationwide the number of completed foreclosures for the month of October plummeted 26.4 percent year-over-year and 34. 1 percent month-over-month, according to CoreLogic.center_img Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Michigan Sees Surge in 12-Month Sum of Completed Foreclosures The Best Markets For Residential Property Investors 2 days ago Michigan Sees Surge in 12-Month Sum of Completed Foreclosures Related Articles December 5, 2014 738 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

GDP Growth Rate Expands in Second Q3 Estimate as U.S. Awaits Fed Liftoff

first_img  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago November 24, 2015 1,649 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Related Articles About Author: Brian Honea Home / Daily Dose / GDP Growth Rate Expands in Second Q3 Estimate as U.S. Awaits Fed Liftoff in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago As the world anticipates the Federal Reserve raising interest rates at its final FOMC meeting in December, the Bureau of Economic Analysis (BEA) announced that the nation’s real gross domestic product (GDP) grew at an annualized rate of 2.1 percent in its second of three estimates for the third quarter released Tuesday.The Fed has repeatedly stated it will not raise the federal funds target rate from near zero, where it has been since 2008, until it sees sufficient economic growth. The GDP grew at a solid rate of 3.9 percent in Q2 but the Fed still did not raise rates.In the advance estimate for Q3 released last month, GDP grew at a rate of 1.5 percent. The rate increase from the advance estimate to the second estimate was largely due to “positive contributions from personal consumption expenditures (PCE), nonresidential fixed investment, state and local government spending, residential fixed investment, and exports that were partly offset by a negative contribution from private inventory investment. Imports, which are a subtraction in the calculation of GDP, increased.”A survey of 58 Wall Street Journal economists conducted in November showed a predicted median GDP growth of 1.5 percent for the third quarter, with a low of 1.1 percent and a high of 2.1 percent. That same group predicted median growth of 2.7 percent, with a high of 4.5 percent and a low of 1.5 percent.Anticipated growth in the GDP rate combined with a solid jobs report for October that beat job creation expectations by 50 percent (271,000 has caused widespread prediction that the Fed will finally raise rates in December. Barring a less-than-stellar employment summary for November, which will be released on December 4, analysts expect the Fed will make the leap.“We really only have one more hurdle to go (the November employment summary), and unless something unforeseen occurs, I think it’s a pretty good bet that the Fed is going to raise rates in December,” said Curt Long, Chief Economist for the National Association of Federal Credit Unions.Despite the increase in the rate of GDP growth from the advance estimate to the second estimate in Q3, the news is not all good, according to the National Association of Home Builders’ Assistant VP for Forecasting and Analysis Robert Denk.“Despite the higher growth headline number, 2.1 percent, major sectors of the economy slowed from last quarter and the correction to inventory investment that we thought was behind us is now in front of us and will pull down the growth numbers next quarter,” Denk wrote on the NAHB’s Eye on Housing Blog. “Stepping back, there are positive notes to the report: PCE, while slower than last quarter, remains strong; fixed investment slowed but hasn’t collapsed; government spending is adding to rather than subtracting from growth. The recovery from the Great Recession continues and the weakness of this report isn’t a major setback, but the upside-down nature of these revisions confounds interpretation; it’s not what it appears, it’s curiouser and curiouser.”center_img Share Save The Best Markets For Residential Property Investors 2 days ago Federal Reserve GDP U.S. Economy 2015-11-24 Brian Honea Subscribe The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago GDP Growth Rate Expands in Second Q3 Estimate as U.S. Awaits Fed Liftoff 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. Previous: CFPB Receiving Fewer Mortgage-Related Complaints on Ocwen Next: DS News Webcast: Wednesday 11/25/2015 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Federal Reserve GDP U.S. Economylast_img read more

More Portfolio Contraction for Fannie Mae

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Housing Shows ‘Flashes of Promise’ as New Year Starts Next: Arch Capital Expands MI Footprint with Acquisition in Daily Dose, Featured, News, Secondary Market More Portfolio Contraction for Fannie Mae Home / Daily Dose / More Portfolio Contraction for Fannie Mae The Best Markets For Residential Property Investors 2 days ago Share Save Related Articles Tagged with: Fannie Mae Gross Mortgage Portfolio Monthly Volume Summary 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 Demand Propels Home Prices Upward 2 days ago Fannie Mae Gross Mortgage Portfolio Monthly Volume Summary 2017-01-03 Brian Honeacenter_img Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago January 3, 2017 1,218 Views  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago In November, Fannie Mae’s gross mortgage portfolio experienced a third consecutive month of contraction following a rare expansion in August, according to Fannie Mae’s November 2016 Monthly Volume Summary.November’s annual contraction rate of 37.1 percent was the highest since the portfolio shrank at a rate of 32 percent in May 2016, according to Fannie Mae. With the contraction, the unpaid principal balance of the portfolio was $289.46 billion as of the end of November 2016.The contraction of Fannie Mae’s gross mortgage portfolio in November calculated to an over-the-month decline of approximately $11.5 billion in UPB, with the combination of sales and liquidations ($39.8 billion) outpacing purchases during the month ($28.3 billion), according to Fannie Mae. For the first 11 months of 2016, the portfolio has shrunk at an average rate of 17.5 percent (the rate was 16.5 percent for November 2015).Fannie Mae’s total book of business, which includes the gross mortgage portfolio plus total Fannie Mae mortgage-backed securities and other guarantees minus Fannie Mae MBS in the portfolio, increased at a compound annualized rate of 3.1 percent in November up to a value of approximately $3.137 trillion. The total book of business has expanded in all but three of the first 11 months of 2016.For the last six and a half years, Fannie Mae has been trying to wind down its gross mortgage portfolio; during that time, it has rarely seen monthly expansion. In August 2016, Fannie Mae’s gross mortgage portfolio experienced a rare expansion, increasing at an annual rate of 9.1 percent. It was only the fifth time the portfolio had expanded since June 2010. The four months prior to August in which the portfolio grew were January 2016, March 2015, January 2015, and December 2012. At the beginning of that stretch in June 2010, the amount of unpaid principal balance (UPB) of the loans in the portfolio was $818 billion.Click here to view Fannie Mae’s entire Monthly Volume Summary for November. Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Subscribelast_img read more

Patenaude Has Nomination Hearing, Rumors of Otting’s Nomination Confirmed

first_img Pamela Patenaude, current President of the J. Ronald Terwilliger Foundation for Housing America’s Families, appeared before the Senate Committee on Banking, Housing, and Urban Affairs for her nomination hearing Monday. Originally, Patenaude was being considered for the position of HUD Secretary, later given to Ben Carson. As Deputy Secretary of HUD, Patenaude will be charged with the Department’s mission to promote safe and affordable housing across the nation while managing HUD’s day-to-day operations.According to the J. Ronald Terwilliger Foundation for America’s Families leadership page, Patenaude served as assistant deputy secretary for field policy and management at HUD. As its assistant secretary for the community, planning, and development, she administered more than $8 billion in housing and community development funds and managed $17 billion in disaster recovery funds for the Gulf Coast rebuilding efforts.“As Assistant Deputy Secretary for Field Policy and Management, I helped restructure HUD’s critical field operations and developed a comprehensive training curriculum on HUD programs and policies for Regional and Field Office Directors,” Patenaude said in her hearing on the nomination. “I also played an instrumental role in the development of HUD’s five-year Strategic Plan. More importantly, I worked hand in hand with the dedicated men and women of HUD who are closest to the people the department serves.”Patenaude believes that her career in housing at the local, state and federal levels of government has broadened her views of America’s housing policies as well as helped her understand the factors that contribute to the success and failures of well-intended programs.“As Matthew Desmond articulated in his Pulitzer Prize winning book Evicted, “we have failed to fully appreciate how deeply housing is implicated in the creation of poverty,”’ Patenaude said. “Dr. Desmond believes that, “powerful solutions are within our collective reach.” I agree with Dr. Desmond and believe that as a nation, we must recognize that housing is not just a commodity but a foundation for economic mobility and personal growth.”U.S. Senator Mile Crapo, Chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs delivered the remarks at the full committee hearing on the nomination.“I look forward to working with Ms. Patenaude, if confirmed again, on opportunities to improve the efficiency of HUD programs, reduce regulatory burdens on local housing authorities, leverage more private capital, empower local decision-making, encourage self-sufficiency and address comprehensive housing finance reform,” Crapo said.Less than 24 hours earlier, President Trump confirmed the rumors of his intention to nominate Joseph Otting, formerly President and CEO of OneWest Bank N.A, as the Comptroller of the Currency at the Department of the Treasury.“Mr. Otting previously served as President and CEO of OneWest Bank N.A and Vice Chairman of U.S. Bancorp,” a White House Press Office document announced on behalf of President Trump. “Mr. Otting holds a B.A. from the University of Northern Iowa and is a graduate of the School of Credit and Financial Management at Dartmouth College.”If confirmed, Otting would replace Thomas Curry, whose term expires next month. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brianna Gilpin in Daily Dose, Events, Featured, Government, News Share Save Servicers Navigate the Post-Pandemic World 2 days ago and Urban Affairs Department of Housing and Urban Development HOUSING J. Ronald Terwilliger Foundation for Housing America’s Families Senate Committee on Banking White House 2017-06-06 Brianna Gilpin Demand Propels Home Prices Upward 2 days ago Previous: GSEs: Where Should the Money Go? Next: Young People Buying Homes Earlier but for Similar Reasons Data Provider Black Knight to Acquire Top of Mind 2 days ago Patenaude Has Nomination Hearing, Rumors of Otting’s Nomination Confirmed The Best Markets For Residential Property Investors 2 days ago  Print This Post Home / Daily Dose / Patenaude Has Nomination Hearing, Rumors of Otting’s Nomination Confirmedcenter_img Subscribe June 6, 2017 1,497 Views Demand Propels Home Prices Upward 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 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: and Urban Affairs Department of Housing and Urban Development HOUSING J. Ronald Terwilliger Foundation for Housing America’s Families Senate Committee on Banking White Houselast_img read more

House Bill Could Exclude Attorneys from FDCPA

first_img in Daily Dose, Featured, Foreclosure, Journal, News, Servicing House Bill Could Exclude Attorneys from FDCPA Share Save Home / Daily Dose / House Bill Could Exclude Attorneys from FDCPA The Best Markets For Residential Property Investors 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Exploring the Effects of Bankruptcy on Borrowers Next: The Week Ahead: A Focus on Millennial Housing Trends Tagged with: CFPB Consumer Financial Protection Bureau Debt Collection Default Servicing Default Servicing Law Firms Fair Debt Collection Practices Act House Financial Services Committee HR 5082 Law Firms Practice of Law Technical Clarification Act of 2018 The Best Markets For Residential Property Investors 2 days ago CFPB Consumer Financial Protection Bureau Debt Collection Default Servicing Default Servicing Law Firms Fair Debt Collection Practices Act House Financial Services Committee HR 5082 Law Firms Practice of Law Technical Clarification Act of 2018 2018-04-01 David Wharton Related Articles About Author: David Wharton The House Financial Services Committee recently advanced a bill, H.R. 5082, that could have major implications for the default servicing industry, and most especially the law firms that work within it. The bill amends the definition of “debt collectors” under the Fair Debt Collection Practices Act to exclude “any law firm or licensed attorney engaged in litigation activities in connection with a legal action in a court of law to collect a debt on behalf of a client to the extent that such legal action is served on the defendant debtor, or service is attempted, in accordance with the applicable statute or rules of civil procedure.”The House Financial Services Committee voted 35-25 to advance the bill, which was introduced by Rep. Alex Mooney (R-West Virginia) and is also known by its full title as the “Practice of Law Technical Clarification Act of 2018.” If passed, the bill would undoubtedly make life easier for the many legal firms with a focus on default servicing.The proposed bill further defines the “activities in connection with a legal action” as:Serving, filing, or conveying formal legal pleadings, discovery requests, or other documents pursuant to the applicable rules of civil procedure; orCommunicating in, or at the direction of, a court of law, or in the enforcement of a judgment; orany other activities engaged in as part of the practice of law, under the laws of a State in which the attorney is licensed, that relate to the legal action.The bill also addresses the Consumer Financial Protection Act of 2010 and clarifies that the Consumer Financial Protection Bureau “may not exercise supervisory or enforcement authority with respect to attorneys engaged in the practice of law and not offering or providing consumer financial products or services.”The bill must now be voted on by the full House, and then move on to the Senate.In a write-up on their official website, ACA International, a U.S. trade group representing collection agencies, creditors, collection attorneys, and other debt collection industry service providers, stated, “ACA maintains that this bill is important to ensure that federal regulators do not impermissibly use their authority to regulate the practice of law, an authority that is properly left to the judicial branch. This bill is particularly critical to put a stop to the CFPB’s unauthorized overreach into the practice of law, a strategy that has substantially harmed debt collection attorneys.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago April 1, 2018 4,049 Views Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 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] Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

The See-Saw of Home Sales and Inventory

first_img June 14, 2018 1,587 Views Previous: Fed Insight: A Snapshot of U.S. Housing Next: Homeowners Making the Best of Their Nests About Author: Scott Morgan Related Articles 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. Demand Propels Home Prices Upward 2 days ago Contracts Homes homes under Contracts HOUSING Inventory Pending Sales Sales Supply 2018-06-14 Radhika Ojha Subscribe Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img  Print This Post Homes in May went under contract faster than ever, according to a report by Redfin. With properties going under contract in 34 days, May broke April’s record of 36 days. But that was just the average. According to the report, a typical home in Denver went under contract in just six days. Seattle and Tacoma were a close second, with homes going under contract in seven days. Boston and Grand Rapids saw the typical home spend eight days on market. Speed was not the only thing on the rise in May. Redfin found that across the 174 markets the national median home sale price rose to $305,600, a 6.3 percent increase from last year. Sales in May saw 28 percent of homes go above their list price, which was also a record, Redfin reported. At the same time, nearly a quarter of homes for sale had a price drop in May, the highest percentage of price drops since September of 2017. “Prices are still increasing, but not at the same rate we saw earlier in the spring,” said Taylor Marr, Senior Economist at Redfin. “The record percentage of homes sold above list price is at odds with the higher percentage of price drops in May. This tells us that while it’s still very much a seller’s market, price growth and rising mortgage rates may be pushing buyers to the limit of what they’re able to pay.”Then, of course, there is inventory. According to the report, the national market had 2.5 months of supply at the end of the month. Individual markets, however, varied widely.In San Jose, the supply of San Jose homes fell 14 percent in May, compared to last year. That drop was the smallest decline in a 16-month stretch of inventory declines, Redfin reported, adding that the numbers show “the intensity of San Jose’s inventory shortage.” However, the number of newly listed homes in May ticked up 11 percent in San Jose compared to last year. Indianapolis had the largest decrease in overall inventory, with the number of properties for sale down 38 percent from a year earlier. Portland, Ore., on the other hand, saw the number of homes on the market increase by 35 percent.Overall, the number of newly listed homes for sale increased 4.3 percent compared to last May, though the total supply of homes national declined 5.4 percent during the same time period. The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / The See-Saw of Home Sales and Inventory The See-Saw of Home Sales and Inventory Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Contracts Homes homes under Contracts HOUSING Inventory Pending Sales Sales Supply Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

Fannie Mae Earnings Increase in Q2

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago August 2, 2018 3,714 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae released its second-quarter earnings Thursday, announcing $5.6 billion in net pre-tax income and $4.5 billion in comprehensive income for the quarter. This is an increase from a net income of $4.3 billion and comprehensive income of $3.9 billion in the first quarter of the year. With a total net worth of $7.5 billion, the GSE will pay a $4.5 billion dividend to the Treasury—the amount in excess of its required $3 billion capital reserve. Since its initial draw in 2008, Fannie Mae has received a total of $119.8 billion from the Treasury. It has paid $167.3 billion in dividends into the Treasury. “Our strong quarterly results reflect solid fundamentals in our Single-Family and Multifamily business,” said Timothy J. Mayopoulos, President, and CEO of Fannie Mae. “Both segments are managing and distributing risk in sustainable, efficient and innovative ways, and our guaranty book remains robust and stable.” Fannie Mae contributed $111 billion in liquidity to the single-family mortgage market during the second quarter of the year, financing 298,000 home purchases and 179,000 home refinancings. Fannie Mae estimated it contributed to 36 percent of all new single-family mortgage-related securities issued in the second quarter. The GSE contributed $14.5 billion in liquidity to the multifamily market, providing financing for 188,000 multifamily housing units. More than 90 percent of those housing units were affordable to households earning 120 percent or less of their area median income. It also continues to engage actively in credit risk transfers for its new loans. In total, Fannie has transferred part of the risk for $1.4 trillion in single-family mortgage loans. It also transferred part of the risk on all of its new multifamily loans in the second quarter. After increasing somewhat in late 2017, following destructive hurricanes, the serious delinquency rate for Fannie Mae mortgage loans has reversed course and is on the decline again. The serious delinquency rate for single-family mortgage loans fell from 1.24 percent at the end of 2017 to 0.97 percent in the second quarter. The multifamily delinquency rate declined slightly from 0.11 percent to 0.10 percent.  The GSE explained that “many delinquent borrowers, including those in areas affected by the hurricanes, have resolved their loan delinquencies by obtaining modifications or through resuming payments and becoming current on their loans.” “The company expects its single-family serious delinquency rate to continue to decline, but at a more modest pace than in the past several years, and to experience period-to-period fluctuations,” Fannie Mae stated in its second-quarter earnings statement.Here’s how Freddie Mac performed during the quarter:Freddie Mac Announces Q2 Results 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Delinquencies Earnings Fannie Mae GSE Homes HOUSING Housing Units loans mortgage Multifamily SIngle-family 2018-08-02 Krista Franks Brock Home / Daily Dose / Fannie Mae Earnings Increase in Q2 Demand Propels Home Prices Upward 2 days ago Subscribe Previous: Do Regulatory Changes Mean More Compliance Expenses? Next: Court of Appeals Addresses Debt Collector License Requirements in Daily Dose, Featured, News, Secondary Marketcenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Fannie Mae Earnings Increase in Q2 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 Share Save Demand Propels Home Prices Upward 2 days ago About Author: Krista Franks Brock Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Tagged with: Delinquencies Earnings Fannie Mae GSE Homes HOUSING Housing Units loans mortgage Multifamily SIngle-familylast_img read more

DS News September: Making a Case for D&I

first_img Related Articles The Best Markets For Residential Property Investors 2 days ago Diversity DS News Foreclosures Inclusion 2018-08-30 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily  Print This Post 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. Home / Daily Dose / DS News September: Making a Case for D&I Tagged with: Diversity DS News Foreclosures Inclusion Subscribe Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago DS News September: Making a Case for D&I August 30, 2018 1,825 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The latest print edition of DS News is nearly here. On September 1, the new print issue will arrive online, and it’s packed to the brim with insightful, exclusive content you need to stay abreast of the latest developments in mortgage and default servicing.Here’s what you can look forward to in the latest edition of DS News magazine.”Diversity & Inclusion, More Than the Sum of Its Parts” by David WhartonA looks at how servicers and government entities are evolving processes by tapping the benefits of diversity and inclusion.”Much Left to Do” by Nikitra BaileyFive decades after the Fair Housing Act of 1968 became law, some say the playing field remains uneven when it comes to achieving the American dream of homeownership. What can be done to promote a more equitable housing industry?”Busting Bias” by Rachel WilliamsFor this year’s edition of our annual Diversity issue, DS News showcases D&I perspectives drawn from the American Mortgage Diversity Council membership. “The Thin Red Line” by Kevin SteinReal estate professionals are reporting that borrowers of color with good income and good credit are still finding it challenging to get loans to purchase homes.Ask the Economist – Tian Liu, Chief Economist, Genworth Mortgage InsuranceCounsel’s Corner – Andrew Boylan, Partner, Risk Management & Compliance, McCarthy & Holthus, LLPYou’ll find all this and more inside the new issue of DS News magazine, available September 1. Once the issue posts, you’ll be able to read it in its entirety in our digital archive. You can also explore our library of back issues, and be sure to check out our sister publication, MReport, as well, for stories focused on the lending and origination side of the industry. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, Print Features Previous: Fortify Your Management Approach Next: What Will Affect Home Values in the Near Future?last_img read more

Tracking Delinquency Shifts

first_imgSign up for DS News Daily Delinquency Foreclosure 2019-11-08 Seth Welborn Tagged with: Delinquency Foreclosure About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Putting Inspection Under the Microscope Next: Merger of BB&T, SunTrust Granted The Best Markets For Residential Property Investors 2 days ago Share Save Tracking Delinquency Shifts The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Related Articles November 8, 2019 2,065 Views This week, CoreLogic will release its newest Loan Performance Insights report. The last report, covering July data, revealed that while delinquencies were falling across the nation, four states were defying trends. These states posted annual increases in their overall delinquency rate in July: Vermont (+0.5%); New Hampshire (+0.2%); Minnesota (+0.1%); and Iowa (+0.1%).3.8% of home mortgages nationally were in some stage of delinquencies that month—down from 4.1% last July and the lowest July figure in more than 20 years. Historically, the share of delinquent mortgages in July peaked in 2010 at 11.1%. The overall delinquency rate since March 2018 for each month has been lower than during the pre-crisis period of 2000 through 2006, when the rate average 4.7%.The serious delinquency rate, which is defined as 90 days or more past due, including loans in foreclosure, was 1.3% in July. That is down year-over-year from 1.6%, and was also lower than the 1.5% average from the pre-crisis period of 2000-2006.The foreclosure inventory rate—the share of mortgages in some stage of the foreclosure process—was 0.4% in July, which is down from July 2018’s 0.5%. CoreLogic states that rising home prices have led to record amounts of home equity, reducing the risk of foreclosure.Also seeing a decline was the share of mortgages entering delinquency, with just 0.8% of mortgages no more than 30 days delinquent. The 30-to-60 day transition rate fell from 15.1% in July 2018 to 13.8% in July 2019.Mortgages delinquent 60-to-90 days fell from 25.3% to 24%. Mississippi led the nation with the highest share of mortgages 30 days or more delinquent at 7.3%. Colorado had the lowest rate at 1.7%.Here’s what else is happening in The Week Ahead:New York Fed Household Debt and Credit Report (November 13)Jerome Powell Testimony: The Economic Outlook (November 13)U.S. Federal Budget (November 13) Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Tracking Delinquency Shifts Subscribelast_img read more

Met Eireann rules out snow

first_img Calls for maternity restrictions to be lifted at LUH Twitter By News Highland – November 4, 2012 Help sought in search for missing 27 year old in Letterkenny Three factors driving Donegal housing market – Robinson Google+ RELATED ARTICLESMORE FROM AUTHOR Facebook Previous articleStill no progress on Polling Clerk jobs call – CutliffeNext articleNew probe into Enniskillen bombing News Highland 448 new cases of Covid 19 reported today WhatsApp Met Eireann rules out snowcenter_img Pinterest Met Eireann is playing down suggestions that snow is imminent, saying temperatures are still too high. Parts of South West England have been hit by snow this weekend, with  three inches reportedly falling in Bath, catching motorists by surprise and causing disruption for train services.Her though, Met Eireann says despite the cold weather here, we’re in no danger of snowfall.Forecaster John Eagleton has been explaining why…….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/11/nosnow6.mp3[/podcast] Pinterest Twitter News Facebook WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly Google+ Guidelines for reopening of hospitality sector publishedlast_img read more