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May, 2021

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Posted by: | Posted on: May 31, 2021

California Judge Dismisses $16 Million Verdict Against Servicer

first_img Previous: GDP Growth Slows Down But Still Beats Predictions for Q3 Next: DS News Webcast: Thursday 10/30/2014  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago October 30, 2014 1,211 Views Home / Daily Dose / California Judge Dismisses $16 Million Verdict Against Servicer California Foreclosure Mortgage Servicers 2014-10-30 Brian Honea Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe About Author: Brian Honea 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img California Judge Dismisses $16 Million Verdict Against Servicer Related Articles A California judge dismissed a $16.2 million verdict a jury awarded to a California homeowner in July after the homeowner sued mortgage servicer PHH Mortgage to stop foreclosure proceedings on his home.Yuba County Superior Court Judge Stephen Berrier said in his ruling that there was no “substantial evidence” to support homeowner Phillip Linza’s claims of negligence, intentional misrepresentation, interference, and infliction of emotional distress on the part of PHH. Linza had been awarded $15.7 million in punitive damages and more than $500,000 in compensatory damages in July after a 17-day jury trial.Berrier ruled that Linza was not entitled to compensatory or punitive damages, but the judge did not dismiss the homeowner’s claims of breach of contract and good faith, which came to nearly $160,000. The judge acknowledged in his ruling that PHH made “inconsistent demands for payment arguably repudiating the modification contract,” and that aside from threatening Linza with foreclosure, the company “refused to return his many calls or to apologize for or correct its errors, refused to enter into a new agreement and even ridiculed his plight.” Despite this, the judge said there was no evidence to support Linza’s claims that PHH was negligent or guilty of fraud.”The trial court has confirmed our belief that the previous verdict was not supported by the facts presented in this case or by applicable law,” PHH spokesperson Dico Akseraylian said in a prepared statement. “We take our responsibilities to borrowers seriously and remain committed to meeting all of our obligations as a servicer.”Linza, who is from Plumas Lake, California, had entered into a loan modification contact with third-party servicer PHH in 2010 to reduce his monthly mortgage payment on the Sacramento-area home he bought four years earlier. Linza claims PHH kept raising the amount of his monthly payment, and when efforts to resolve the discrepancies were not successful, Linza refused to pay. PHH then began foreclosure proceedings on Linza’s home in 2012, and he sued to block the procedure.Despite the judge’s dismissal of punitive and compensatory damages, Linza’s attorney, Stephen Foondos of United Law Center, was pleased with the outcome and that Linza was awarded $160,000.”This is the first case of its kind,” Foondos said. “California homeowners in general need to look at this as an absolute victory. This sets a precedent for homeowners, and many of them have much worse cases than Mr. Linza. He wasn’t foreclosed on, and many of them have been foreclosed on. This is a wonderful victory for homeowners who might look at this $160,000 verdict as something that is attainable to them.”Foondos said he plans to appeal the dismissal of the compensatory and punitive damages because he believes the judge committed an “abuse of discretion” by “taking it out of the jury’s hands and mischaracterizing testimony” heard in the court. One of the main points of the case revolves around defining exactly what “severe” is, Foondos said.”He’s teed this up as high as possible for us to hit and we’re going to slam it down the fairway,” Foondos said. The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, News Share Save Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Tagged with: California Foreclosure Mortgage Servicerslast_img read more

Posted by: | Posted on: May 31, 2021

Credit Unions are Having Trouble Closing with TRID

Home / Daily Dose / Credit Unions are Having Trouble Closing with TRID Previous: Fed Says April Rate Hike is All But Off the Table Next: Why are Millennials Locked Out of the Housing Market? Subscribe Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Closing Delays Mortgages TRID Credit Unions are Having Trouble Closing with TRID Demand Propels Home Prices Upward 2 days ago About Author: Scott Morgan Governmental Measures Target Expanded Access to Affordable Housing 2 days ago While most everyone knew TRID regulations would result in delays, not many expected those delays to be so sweeping. The results of a study released Wednesday by Washington, D.C.-based Callahan & Associates found that a whopping 96 percent of the 200-plus credit union executives the company surveyed across 46 states reported closing delays related to TRID over the past six months.Callahan found a  variety of reasons at the heart of the delays. Half cited new lender workflow between title companies and members, as well as refinement of processes of procedures as the primary cause of closing delays. A quarter cited compliance issues related to settlement, systems, members, and mortgage disclosure. Sixteen percent said that their own mortgage loan origination and core processing systems were not fully equipped to handle necessary updates, while 6 percent said their members were unable to provide documentation and other information in a timely manner.Additionally, open-ended survey responses noted timing issues with disclosures, difficulties integrating mortgage origination systems with core processors, and challenges with title companies, realtors, and other settlement agents, Callahan stated.All told, more than half of the respondents said new TRID regulations have added five or more days to mortgage closing, while the average number of days to close, according to respondents is 42. The industry’s ideal average closing goal is 31 days.Despite the delays, the vast majority of respondents said closing issues were generally easy to handle. Nearly 80 percent said they are able to deliver disclosures quickly, with 20 percent saying they deliver three days before the mortgage closing, the absolute deadline for delivering disclosures.For most credit unions, the portfolio and secondary markets are significant origination factors, Callahan found. Eighty-three percent of respondents, in fact, said they originate loans to hold in their portfolio. But more two-thirds also actively originate for sale to the GSEs.  A minority of respondents — 11.3 percent — said they solely originate for sales to GSEs. Closing Delays Mortgages TRID 2016-04-06 Scott Morgan 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. April 6, 2016 1,018 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles read more

Posted by: | Posted on: May 31, 2021

CFPB Takes Legal Action Against Mortgage Servicer for Noncompliance

first_img Demand Propels Home Prices Upward 2 days ago The Consumer Financial Protection Bureau (CFPB) announced Wednesday that they, after an investigation, found Fay Servicing, a Chicago-based mortgage servicer, in violation of federally mandated rules, and subsequently ordered restitution payments and system changes. The CFPB’s investigation found that Fay Servicing did not take the steps required to keep their customers informed about the various options for foreclosure relief, nor did they inform their customers when additional information or documents were required to process their application. The Bureau also claims that Fay Servicing did not send evaluations to customers who had completed applications for foreclosure relief with vital information as to what relief options were being offered, the deadline or deadlines to accept such relief, or the borrower’s rights in declining said relief, putting unnecessary responsibility on the borrower. CFPB also said that, even though servicers are prohibited from moving forward with certain aspects of the foreclosure process, Fay Servicing sometimes began and completed the foreclosure even while borrowers were being considered for foreclosure relief. The Bureau has ordered Fay Servicing must pay up to $1.15 million to consumers that were directly subject to the illegal practices listed above. Fay Servicing must also demonstrate that they engage customers on the verge of foreclosure with viable alternatives to foreclosure, and create policies and procedures that will maintain proper data tracking for borrower outreach. “The Bureau found that Fay violated the CFPB’s servicing rules by keeping borrowers in the dark about critical information about the process of applying for foreclosure relief,” said CFPB Director Richard Cordray. “CFPB will continue to hold servicers accountable for violations of consumer protection laws.”Fay Servicing has agreed to pay the $1.15 million in redress to the affected borrowers. There will be no further penalty; and, moving forward, no monitor will be required.Fay issued a statement, “Fay has always been committed to delivering a high-quality customer service experience to borrowers while complying with all applicable legal and regulatory requirements. The isolated claims concern a small fraction of the more than 85,000 borrowers whose mortgages Fay Servicing has serviced since it was founded in 2008. While Fay regrets any instance in which it did not comply with a regulatory requirement, we believe the affected borrowers were well-served during the loss mitigation process . . . [t]he company reached this agreement with the CFPB in the interest of putting this matter behind it and focusing on the needs of its clients, employees, and borrowers.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily  Print This Post Home / Daily Dose / CFPB Takes Legal Action Against Mortgage Servicer for Noncompliance Servicers Navigate the Post-Pandemic World 2 days ago Share Save Tagged with: CFPB Fay Servicing non-compliance Previous: Estimated Additional Deficit Reduction for H.R. 10 Reaches $9.5 Billion Next: Favorable Conditions For SFR Investment in Many Cities CFPB Fay Servicing non-compliance 2017-06-07 Staff Writer in Daily Dose, Featured, Headlines, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe CFPB Takes Legal Action Against Mortgage Servicer for Noncompliance The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Staff Writer The Best Markets For Residential Property Investors 2 days ago June 7, 2017 3,655 Views Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Posted by: | Posted on: May 31, 2021

The Reality of Home Prices vs. Home Sales

first_img 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Caliber Home Loans Launches Mobile Platform Next: LenderLive Appoints Chief Information Security Officer The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago March 19, 2018 4,035 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Journal, Magazine, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago The Reality of Home Prices vs. Home Sales  Print This Postcenter_img Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Home prices in February hit a four-year high, capping a 72-month run in which median home values rose nationally, according to a report by Redfin. But just because the prices went up does not mean sales went up. In fact, while national median prices rose almost 9 percent (to $285,000) in February, the number of homes for sale dropped more than 11 percent from January and were flat compared to a year ago. It was the twenty-ninth consecutive month inventory suffered, while prices keep going up.Only six of 73 metros saw sales grow by double digits from last year, the report said. Louisville led the nation in year-over-year sales growth, up 25 percent, followed by Greenville, South Carolina, which was up 18 percent.Inventory dropped most in New York State, where three metros saw downswings compared to last year. Inventory in Rochester and Buffalo dropped 40 percent and in Albany, 30 percent. Atlanta also posted a 33 percent decline in inventory.As availability and affordability continue to constrain the market, interest in buying a home is humming along nicely. Time on the market for homes sold in February was 53 days, a week faster than a year earlier. That’s just the average. In Seattle, half of all homes pending sales closed in just eight days—four days faster than it was a year earlier. Denver and San Jose reported closings in nine and 10 median days on the market, respectively. Homes in Oakland and San Francisco spent two weeks on the market.The most competitive market in February was San Jose, where 83 percent of homes sold above list price. Three-quarters of homes for sale in San Francisco did the same. Oakland, Seattle, and Tacoma also saw homes close significantly above asking price. Overall, Redfin reported, 21 percent of homes that sold in February went for more than their list price, nationally. That number is up 20 percent from last year. The median value of off-market homes was $283,300, a 9 percent uptick percent from last year. Almost two-thirds of homes on the market in February were priced above their Redfin Estimate value.“Mortgage rates pushed upwards in February to the highest levels in nearly three years as home prices increased by their fastest pace in nearly four years,” said Redfin chief economist Nela Richardson. “A growing economy, healthy buyer demand, and low inventory drove the ramp up in prices last month. Combining even slightly higher rates with price growth this strong will make it even more challenging for first-time buyers to find affordable homes to buy this year. The good news for sellers is modest rate increases are unlikely to curtail buyer demand. Just 6 percent of respondents to a survey commissioned by Redfin said they would cancel their home buying plans if rates rose above 5 percent.” On the other side of the country, and on the other side of the numbers, sales in Long Island saw the largest decline in sales since last year, falling 33 percent. Home sales in Minneapolis and Miami also dropped, each by 13 percent. Buyers Home Values Homes HOUSING Inventory Median-Value Pending Sales Redfin sellers 2018-03-19 Radhika Ojha About Author: Scott Morgan Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Buyers Home Values Homes HOUSING Inventory Median-Value Pending Sales Redfin sellers Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / The Reality of Home Prices vs. Home Saleslast_img read more

Posted by: | Posted on: May 31, 2021

Freddie Mac Announces Securitization of Reperforming Loans

first_img Freddie Mac Announces Securitization of Reperforming Loans in Daily Dose, Featured, Investment, Journal, News, Secondary Market Previous: How Do Non-prime Loans Help Underserved Borrowers? Next: Surviving and Thriving in a Low-Foreclosure REO Environment 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 Demand Propels Home Prices Upward 2 days ago  Print This Post Related Articles June 11, 2018 3,885 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agocenter_img Share Save Home / Daily Dose / Freddie Mac Announces Securitization of Reperforming Loans Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac recently priced its second Seasoned Credit Risk Transfer Trust offering of 2018, with the total coming in at around $1.6 billion.As detailed in the GSE’s press release, this securitization includes both guaranteed senior and unguaranteed subordinate securities. Freddie’s statement explains that “the SCRT securitization program is a key part of Freddie Mac’s seasoned loan offerings to reduce less liquid assets in its mortgage-related investments portfolio and shed credit and market risk via economically reasonable transactions.”Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2 will issue roughly $1.5 billion in guaranteed senior certificates and approximately $127 million in “unguaranteed mezzanine and subordinate certificates.” The issuance should be settled by June 13, 2018, according to Freddie.The collateral backing this securitization consists of “8,628 fixed- and step-rate modified seasoned reperforming loans,” which Freddie’s statement notes were modified to help borrowers at risk of foreclosure and have since been performing for at least 12 months as of issuance.Specialized Loan Servicing LLC services the loans, with Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated set as co-lead managers and joint bookrunners. Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, and Samuel A. Ramirez & Company, Inc. will serve as co-managers.In February, Freddie Mac reported a Q4 2017 loss of  $3.3 billion, which required $300 million in federal assistance. That report came on the heels of fellow GSE Fannie Mae posting a $6.5 billion Q4 2017 downturn, which required a $3.7 billion bailout. Freddie reported $5.6 billion in annual net income in 2017. A $4.5 billion benefit from a litigation settlement ($2.9 billion after taxes) and a $5.4 billion write-down of the net deferred tax asset resulting from December’s tax overhaul by Congress were the two main contributing factors to the GSE’s net income last year.To date, Freddie Mac has sold $7 billion of non-performing loans. To learn more about the GSE’s seasoned loan offerings, click here. Freddie Mac MBS Mortgage-Backed Securities Reperforming Loans 2018-06-11 David Wharton Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 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] About Author: David Wharton Tagged with: Freddie Mac MBS Mortgage-Backed Securities Reperforming Loans Subscribe The Best Markets For Residential Property Investors 2 days agolast_img read more

Posted by: | Posted on: May 31, 2021

Q3 Mortgage Revenue Drivers

first_img About Author: Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Q3 Mortgage Revenue Drivers Tagged with: Citigroup Home JPMorgan Chase Lending mortgage Wells Fargo The top big banks of the U.S. – JPMorgan Chase, Citigroup, and Wells Fargo announced their third-quarter earnings for 2018 on Friday. All the three banks posted an increase in revenue, led by an increase in consumer lending.However, while Wells Fargo’s home lending business saw an increase, with its mortgage banking income increasing to $846 million in Q3, from $770 million in Q2, home lending at JPMorgan Chase decreased 16 percent to $1.3 billion  driven by lower net servicing revenue, as well as loan spread and production margin compression, the bank said in its earnings statement.Citigroup said that excluding mortgage, its retail banking revenues increased 1 percent, driven by continued growth in deposit margins and investments, “largely offset by lower episodic transaction activity in commercial banking.”Overall income at all the three banks saw an increase in the third quarter. While JPMorgan’s income posted a 24 percent increase to $8.4 billion, Wells Fargo said that its net income had increased to $6 billion, compared with $4.5 billion in the third quarter of 2017. Citi reported a net income of $4.6 billion compared with $4.1 billion during the same period a year ago.”In the third quarter, we continued to make progress in our efforts to build a better Wells Fargo with a specific focus on our six goals: risk management, customer service, team member engagement, innovation, corporate citizenship, and shareholder value,” Tim Sloane, CEO, Wells Fargo said in a statement. “We are strengthening how we manage risk and have made enhancements to our risk management framework. We also continued to make progress on customer remediation, which is an important step in our efforts to rebuild trust.”Speaking about the macroeconomic factors that are likely to impact the market in the long run, Jamie Dimon, CEO, JPMorgan Chase said that the U.S. and the global economy continued to show strength despite increasing economic and geopolitical uncertainties which “at some point in the future may have negative effects on the economy.”Additionally, he said that JPMorgan Chase had delivered strong results this quarter with top-line growth in each of its businesses. “In Consumer & Community Banking we attracted record net new money this quarter, driving client investment assets up 14 percent, and we saw continued double-digit growth in card sales and merchant processing volume. Our customer satisfaction across CCB is at or near all-time highs, and we continue to grow deposits faster than the industry, even as the pace slows with rising rates.” Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago October 12, 2018 1,524 Views Home / Daily Dose / Q3 Mortgage Revenue Drivers Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img  Print This Post Related Articles in Daily Dose, Featured, News, Servicing Servicers Navigate the Post-Pandemic World 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Demand Propels Home Prices Upward 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 Citigroup Home JPMorgan Chase Lending mortgage Wells Fargo 2018-10-12 Radhika Ojha Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Homeowners and Rising Interest Rates Next: After Hurricane Michael’s Landfall …last_img read more

Posted by: | Posted on: May 31, 2021

Spotlight on Single-Borrower Performance

Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago February 15, 2019 1,243 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The latest single-family rental research from Morningstar Credit Ratings, LLC shows that the rent change for single-borrower and single-family rental securitizations increased by 2.3 percent in December, dropping from a revised 3.6 percent in November. Data indicated that the average vacancy rate increased by 10 basis points to 4.6 percent in December from a revised 4.5 percent in November. The average retention rate for expiring leases recorded a drop by 110 basis points to 77.7 percent in November from a revised 78.8 percent in October, according to the report. The report noted that it has remained over 75 percent for the past year. Of the 20 metropolitan statistical areas (MSA), Houston MSA had the highest vacancy rate at 6.5 percent, down from a revised 6.8 percent in November. This was followed by Denver-Aurora at 6.8 percent, and Indianapolis at 5.8 percent each. The highest blended rent growth was experienced in Las Vegas at 4.1 percent, followed by Raleigh-Cary, North Carolina at 3.4 percent and Memphis, Tennessee at 3.2 percent.  Lowest rent growth was recorded at 0.6 percent in the Chicago followed by Indianapolis and Houston MSA at 0.7 percent and 1.4 percent respectively. According to Morningstar research,With the exception of the Fort Lauderdale, Houston, and Phoenix MSAs, rents for properties included in single-family rental securitizations continue to exceed the RentRange rents for three- and four-bedroom properties located in the same MSAs. Analyzing single-borrower performance, the research found a decrease in lease expirations to 4.8 percent in December, a drop from 5.3 percent in November. This decline is also expected to lead to a decline in the vacancy rate in the coming months. The average retention rate on full-term leases declined 110 basis points to 77.7 percent in November, the latest month for which data is available, from a revised 78.8 percent in October.The overall turnover rate declined to 2.5 percent in November, the latest month for which data is available, from 3 percent in October. The average delinquency rate increased to 0.9 percent in December, with two transactions reporting delinquency rates of 2 percent each. Rents recorded an upward spike at 3.6 percent in November, compared with a revised 3.8 percent increase in October, according to the research. Rents recorded an upward spike at 2.3 percent in December, compared with a revised 3.6 percent increase in November, according to the research.Focusing on how to build, manage and grow investment opportunities, 2019 will see an array of housing and mortgage professionals come together at The Guest House of Graceland, Memphis, Tennessee between March 11-13 for the Single Family Rental Summit. The Summit will feature subject-matter experts who will answer questions and offer viable solutions related to property management, acquisition, disposition, and financing. Click here to register for the summit.  Print This Post Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Previous: The Week Ahead: Exploring Repercussions of Nonjudicial Foreclosure Next: Low-Income Households Get a Shot at Homeownership Tagged with: LLC Morningstar Credit Ratings Single-borrower 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] Related Articles Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Spotlight on Single-Borrower Performance Spotlight on Single-Borrower Performance Share Save LLC Morningstar Credit Ratings Single-borrower 2019-02-15 Donna Joseph About Author: Donna Joseph in Daily Dose, Featured, Market Studies, News, Servicing Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago read more

Posted by: | Posted on: May 31, 2021

The Politics of Housing: Market Metrics Across the Nation

first_imgHome / Daily Dose / The Politics of Housing: Market Metrics Across the Nation 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The Politics of Housing: Market Metrics Across the Nation in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily  Print This Post 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 Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Experts in the housing industry have offered varied opinions about the election outcome—which, at the time of publication, is uncertain—and how it might impact the housing market, lenders, and property owners.Financial Times posted an Election Day report about how the recent economic downturn, global pandemic, and housing policies have taken a toll on President Donald Trump’s approval.Meanwhile, the National Association of Homebuilders, while not making a presidential endorsement, listed its congressional endorsements, which leaned overwhelmingly toward Republican candidates. Within its announcement, the organization stated that its “non-partisan endorsements are based on the candidate … views and actions on policy and legislation most important to the home building industry.”Although Presidential elections typically slow home buying due to uncertainty, this time is different. “The housing market could be the only segment of the economy not impacted by the looming election,” said Barbara Corcoran, founder and CEO of the Corcoran Group brokerage in NYC, to Yahoo! Finance.At a recent State of the Industry roundtable,  Alan Jaffa, CEO of Safeguard, which hosted the discussion, along with other participants, anticipated a period of uncertainty following Election Day. “Before we worry about new regulations for servicers,” he said, “we will need to get through the first few months.”Early on Election Day property-data provider ATTOM Data Solutions released a special political housing analysis to determine which political fate better serves homeowners.ATTOM determined that, nationwide, counties controlled by Democrats have homes priced 75% higher than homes in Republican-controlled precincts.The study also reveals homeowners in Democratic areas are more likely to have substantial equity established. At the same time, property taxes in counties that lean Republican are roughly half of what homeowners pay in Democratic areas, according to the analysis.”There are many ways to approach the question of which political party is better for homeowners,” noted the study’s authors.ATTOM Data Solutions in this particular report looked at home values, homeowner equity, property taxes, and foreclosures for single-family houses purchased in 2019 and homes with mortgages and properties taken in foreclosure actions. Researchers measured those metrics for homes in counties with Democrat versus Republican state representatives. (Researchers excluded areas with an equal number of reps from each party).ATTOM supplied the following infographic, based on its findings.Of three million single-family homes sold in 2019, the average price in counties with predominately Democratic representation was $428,958, compared to $245,085 in Republican-represented counties.As for equity, 31% of homeowners with mortgages in Democratic-leaning areas are considered equity-rich—the balance remaining on their loans is less than half the estimated value of their homes. In Republican-controlled areas, that number is 24.3%. In Democratic districts, 4.9% of homeowners are “seriously underwater,” owing at least 125% of the value of their properties, while 7.2% of Republican-led counties are in the same position.That said, residents of Republican-led counties pay lower property taxes ($2,676 on average) than those of Democrat-run areas ($5,127), according to the analysis. Foreclosures also are less frequent in the Republican regions.Throughout the remainder of election week, DS News will continue to report on industry leaders’ reactions to the election results. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago November 3, 2020 2,100 Views Previous: Legal Insights: HUD Compliance and Foreclosure Dismissals Next: The Industry Pulse: Appointments and Promotions About Author: Christina Hughes Babb 2020-11-03 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Posted by: | Posted on: May 27, 2021

Bloody Sunday families have met with Protestant Church leaders in Derry

first_img Google+ Twitter By News Highland – June 16, 2010 Pinterest Need for issues with Mica redress scheme to be addressed raised in Seanad also Calls for maternity restrictions to be lifted at LUH WhatsApp Facebook Twitter Facebook Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey center_img Pinterest News Almost 10,000 appointments cancelled in Saolta Hospital Group this week The families of those killed in Bloody Sunday have met with Protestant Church leaders in Derry following on from the publication of the Saville Report yesterday.Bishop of Derry and Raphoe, Ken Good, the Reverend Dr Norman Hamilton and Reverend Paul Kingston met with the families at the Bloody Sunday memorial.In a statement afterwards they said they hoped the Saville Report will bring comfort and relief to the families who lost loved ones – they also commended them for their patience and dignity.This afternoon, some of the relatives will meet with Taoiseach Brian Cowan.Much attention is now focussing on whether or not prosecutions should be pursued. This morning, the former Bishop of Derry Dr Edward Daly said his preference would be to accept Saville, and not go any further.[podcast]http://www.highlandradio.com/wp-content/uploads/2010/06/bdaly1pm.mp3[/podcast]Meanwhile, the DUP for East Derry Gregory Campbell says it’s regrettable that Lord Saville did not examine the context which led to the Parachute Regiment being deployed.Speaking to Greg Hughes on Highland Radio today, he said the Saville Report covers the events of one day, while the IRA and others have caused thousands of bloody days.He also says the Saville Report rejects what’s been a republican claim for years, that the events of Bloody Sunday were planned, and the soldiers were ordered to do what they did.[podcast]http://www.highlandradio.com/wp-content/uploads/2010/06/gcam1pm.mp3[/podcast] WhatsApp Guidelines for reopening of hospitality sector published LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleAnti-VRT group welcome Donegal County Councils supportNext articleEuropean Parliament backs annual payment of €15 million to the IFI News Highland Bloody Sunday families have met with Protestant Church leaders in Derry RELATED ARTICLESMORE FROM AUTHORlast_img read more

Posted by: | Posted on: May 27, 2021

Strabane man appears in court in relation to fatal Donegal shooting

first_img Strabane man appears in court in relation to fatal Donegal shooting Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week Minister McConalogue says he is working to improve fishing quota Twitter Twitter Pinterest Previous articleSenior Gardai assure Carndonagh locals on garda coverNext articleSt Patrick’s Day celebrated across Donegal News Highland Google+ News A 35-year old man has appeared before the Special Criminal Court charged in connection with a fatal shooting in Co Donegal.Andrew Burns, from Strabane in Co Tyrone, was shot twice in a church car park in Doneyloop in Castlefin on the 12th February 2008.Today Martin William Kelly, from Strabane in Co Tyrone, was arrested and brought before the court.He was remanded in custody to appear again on March 23rd. LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton center_img WhatsApp Pinterest WhatsApp By News Highland – March 16, 2010 Google+ 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report RELATED ARTICLESMORE FROM AUTHOR Need for issues with Mica redress scheme to be addressed raised in Seanad also Facebook Dail hears questions over design, funding and operation of Mica redress schemelast_img read more