first_imgSign up for DS News Daily  Print This Post Previous: Fannie Mae Announces Enhanced Dataset for Single-Family Loans Next: Judge Orders Treasury to Disclose GSE Conservatorship Documents in Fairholme Suit Housing Markets Continue Slow But Steady Ascent Into Stable Range The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Housing Markets Continue Slow But Steady Ascent Into Stable Range Demand Propels Home Prices Upward 2 days ago Tagged with: Freddie Mac Housing Market Multi-Indicator Market Index Related Articles Freddie Mac Housing Market Multi-Indicator Market Index 2015-07-22 Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News 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. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago In the latest Freddie Mac Multi-Indicator Market Index (MiMi), which measures the stability of the U.S. housing market, three additional metro areas entered the “stable” range in May while the overall index value pushed its way up to slightly below stable at 79.2.The three markets that improved to stable range in the May MiMi were Stockton, California; Madison, Wisconsin; and Miami, Florida, according to Freddie Mac.The 79.2 value for the latest MiMi, which was released Wednesday, indicated a weak overall housing market but improved by 0.71 percentage points from April to May and by more than 2 percentage points over the three-month period from the beginning of March to the end of May. The MiMi value improved by more than 4 percentage points year-over-year in May, according to Freddie Mac.The all-time high for the national MiMi is 121.7, set in April 2006 prior to the recession. The all-time low for the national MiMi was 57.2, set in October 2010 at the height of the foreclosure crisis. The housing market has rebounded by 34 percent since hitting that all-time low nearly five years ago.”MiMi continues to deliver good news on the housing front as more markets continue improving,” Freddie Mac Deputy Chief Economist Len Kiefer said. “Likewise, it’s becoming clearer every month that after several years of local trends largely reflecting national trends, we are getting back to more normal times where local housing markets develop based on their own unique economies. For example, housing markets in the West and Southwest continue to be the bright spot of the recovery and spring homebuying season with strong purchase activity fueled by an improving local economy and job picture. Yet, even within these regions, MiMi shows noticeable differences. Meanwhile, markets throughout Florida showed significant improvement this month not because of robust home buying activity, but because more borrowers became current on their mortgages, with just a few showing better purchase activity. Florida markets, much like those in Nevada or Arizona, while improving rapidly, still have significant work to do to get back to their benchmark stable ranges.”In May, 26 states plus the District of Columbia reported MiMi values in the stable range, led by the District of Columbia (100.5) and North Dakota (96.4). Meanwhile, 38 of the top 100 metro areas nationwide had stable MiMi values in May, led by Fresno (95.8) and Honolulu (93.1). According to Freddie Mac, 43 out of 50 states and 95 of the top 100 metros showed an improving three-month trend in May, compared to 42 states plus the District of Columbia and 95 of 100 metros in May 2014.Click here to see the complete May 2015 MiMi from Freddie Mac. July 22, 2015 1,551 Views The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Subscribelast_img read more

first_img Share Save  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Although agency mortgage-backed securities liquidity has declined recently, it remains mostly where it was prior to the housing bubble; the current levels of agency MBS liquidity are likely to be in place for a while, since the factors driving the decline are unlikely to slow down in the foreseeable future, according to an analysis from the Urban Institute released Monday.In a white paper titled “Declining Agency MBS Liquidity Is Not All about Financial Regulation,” Karan Kaul and Laurie Goodman of the Urban Institute contend that tighter financial regulation and higher capital requirements are not the only reasons behind the recent decline in agency MBS liquidity.With approximately $5.7 trillion in securities outstanding as of the end of Q2 2015, according to data from Securities Industry and Financial Markets Association, making it one of the most liquid fixed-income markets in the world (behind only the U.S. Treasury market), according to the Urban Institute. The majority of these agency mortgage-backed securities are issued by Fannie Mae, Freddie Mac, Ginnie Mae, or another government agency. The market has “historically been very liquid because participants have been able to trade large volumes of securities relatively easily and quickly,” according to the authors.The average daily trading volume of agency RMBS is down substantially from the bubble period of 2008, when it was $350 million; even though it has fallen since the crisis, the average daily trading volume has still been about $190 million since the beginning of 2014. That number is close to the 2003-2004 pre-bubble average, according to the authors.Whether or not the trading volume is simply reverting to more sustainable levels or is a sign of a more serious problem has yet to be determined, according to the authors. Existing research and many reports in the press have asserted that more stringent regulation put in place post-crisis is responsible for the declining fixed-income liquidity.”The new regulatory safeguards have had their intended effect of reducing the amount of risk taken by financial firms. But to expect a reduction in risk without causing some impact on liquidity is trying to have it both ways.”Karan Kaul and Laurie Goodman”Specifically, higher capital requirements, conservative leverage ratios and curbs on proprietary trading under the Dodd-Frank Act have made it more expensive for large financial services institutions to take risks,” the authors wrote. “While that is certainly true, our view is there is more to declining agency MBS liquidity than just regulation.”Two high-level trends are in play as far as reasons for declining agency MBS liquidity beyond regulation: investor heterogeneity has been reduced by a major shift in MBS ownership from active traders to “buy and hold” investors, and with it, the “ability of markets to self-correct temporary price dislocations, resulting in more pronounced episodes of volatility”; and mortgage refinance volume has dropped steeply without an increase in purchase originations, which has resulted in a drop in agency MBS issuances, which has in turn led to a decline in trading volume, according to the authors.After-effects of the crisis are driving these trends, which leads the authors to the conclusion that the levels of agency RMBS liquidity are here to stay. First, the Fed’s ownership of outstanding agency RMBS is not likely to change until the Fed changes course, and no one knows when that will be (the Fed and commercial banks now own more than half of outstanding agency RMBS); second, it is  “virtually certain that the GSEs won’t be allowed to run investment portfolios in any meaningful way, form, or scale moving forward”; and third, there is no concrete reason to believe that stringent regulations put in place after the crisis will ease up.”If excessive risk-taking led to an increase in liquidity previously, then it should be no surprise that a reduction in risk will cause liquidity to decline,” the authors wrote. “Part of this reduction in risk and liquidity is no doubt driven by tighter regulation, but it is also driven by an extraordinary shift in MBS ownership pattern as well as weak mortgage originations and issuance activity. The new regulatory safeguards have had their intended effect of reducing the amount of risk taken by financial firms. But to expect a reduction in risk without causing some impact on liquidity is trying to have it both ways.”Click here to read the entire white paper. Previous: House Postpones Vote on Proposal to Cap Salaries of Fannie Mae, Freddie Mac CEOs Next: DSNews Webcast: Tuesday 11/3/2015 Home / Daily Dose / Current Levels of Agency MBS Liquidity Likely to Stay Put in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 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. November 2, 2015 1,108 Views Sign up for DS News Daily center_img Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Current Levels of Agency MBS Liquidity Likely to Stay Put Agency MBS Liquidity Mortgage-Backed Securities Urban Institute 2015-11-02 Brian Honea Demand Propels Home Prices Upward 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 Tagged with: Agency MBS Liquidity Mortgage-Backed Securities Urban Institute Related Articleslast_img read more

first_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Economy HOUSING Stewart Ted Jones  Print This Post 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. Trending Economics: Where the Market is Headed This year The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Share Save Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img February 16, 2017 5,081 Views in Daily Dose, Featured, Market Studies The Best Markets For Residential Property Investors 2 days ago Economy HOUSING Stewart Ted Jones 2017-02-16 Brian Honea Speculation surrounding the housing market has been buzzing, and many are wondering what the state of the economy will be like tomorrow, in a month, and even one year from today. With the rapidly changing environment, it’s difficult to decipher what is next for housing.Ted C. Jones is the Chief Economist and SVP for Stewart Title Guaranty Company, where he addresses the information needs of internal and external customers, conducts ongoing research and supports economic and financial analysis for the company and its customers. Previously, he served as the first director of investor relations for Stewart (NYSE-STC) for 17 years. Jones earned a PhD in finance with a minor in statistics and a master’s degree in land economics and real estate from Texas A&M University. He holds a Bachelor of Science degree from Colorado State University.Jones sat down with MReport to discuss economic trends, rising interest rates, and how the construction of new homes is weighing on supply and home prices.Q: What are some trends that you are currently seeing with home sales on a larger, national level and do you expect those trends to continue throughout the year?A: The nation experienced a slow market from mid-2016 to the end of 2016. However, the market saw the most home sales since 2006. Considering the election and a few other components, people were stepping back from the high-end marketplace. Another trend we’ve seen is rising rent costs. In almost every city in America, rent prices are increasing. Whether you own or are preparing to buy, prices are steadily increasing. Now enter entry-level home buyers, who are slowly making their way back into the market. We’re not going to see a huge increase in homeownership, but there is room to grow. For the first time ever, millennials became the largest, single, home buying segment demographic in the country. The other thing we are seeing is rising interest rates. Freddie Mac’s most recent release cited the 30-year fixed rate average at 4.19 percent, and loan applications have dropped 18 percent. I do not expect much of a slow-down whatsoever from rising interest rates. I anticipate the interest rate to be between 4.7 and 5.3 percent in the next 12 to 18 months.Q: Do you expect more interest rates to rise throughout the year?A: I do. I did anticipate that the Fed would not increase interest rates on February 1, but I do expect them to have three rate rises this year. There’s lots of inflation that we just aren’t measuring accurately. You can’t have those kinds of price increases and not result in inflation. We’re also seeing that even the Fed’s definition of full  employment has been reached – that is the unemployment rate hovering between 5 percent and 5.5 percent.Q: How has the amount of home building construction in the U.S. affected home prices and the supply of homes?A: Builders have three major headwinds right now. First, we have run out of lots. Since 2008, we have hardly built any and we’re back trying to quickly catch up. It’s very difficult to build lots in some states. For example, in California, it can take up to 12 years from the planning stage to the end result until you actually complete your first home on new residential development in a subdivision. Houston is the largest city in America with no planning or zoning, so we can actually do it a lot quicker than that.The second obstacle is that construction workers left the work force during the implosion of the housing bubble. We have really been constricted by a shortage of skilled laborers. A study released last year cited that 15 percent of construction workers were undocumented illegal aliens. In an already constricted space where we already don’t have enough workers, a shortage of labor will actually slow down your growth. The last obstacle is massively increased construction and materials costs. In a globally competitive market, our materials are globally priced, not locally priced. It has been difficult to ramp up with those three obstacles, but our builders have done a great job. We’re more constrained on the finance side.Q: What are some of the challenges that an economist faces when trying to anticipate the future health of the real estate market?A: The health of the real estate market is a pure function of one thing—job growth. If you want to see where real estate is going, you have to look at job growth. In the last 24 months, the U.S. economy has seen slow growth. Whoever became president was bound to take over in a shrinking job growth market. About two years ago, the nation was producing over three million jobs every year, but got down to 2.1 million on a rolling annual basis in the last few months. With the right guidance, we can easily get back on pace this year to produce three million jobs. Previous: Home Values Severely Impacted by Environmental Hazards Next: CFPB Proposes Using Alternative Data for Credit-Poor Consumers Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Trending Economics: Where the Market is Headed This year The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribelast_img read more

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Subscribe in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily CFPB Ocwen 2017-04-20 Seth Welborn Ocwen Responds to Suit from CFPB, 21 States April 20, 2017 5,529 Views Tagged with: CFPB Ocwen Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Ocwen Responds to Suit from CFPB, 21 States The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save According to a complaint made by the Consumer Financial Protection Bureau (CFPB) and 21 states, Ocwen Financial Corporation “engaged in significant and systemic misconduct at nearly every stage of the mortgage servicing process.” The lawsuit claims that Ocwen serviced loans using error-filled data, illegally foreclosed on at least 1,000 homeowners, failed to credit borrower payments, mismanaged escrow accounts, failed to cancel borrowers’ private mortgage insurance in a timely manner, deceptively signed up and charged borrowers for add-ons, failed to adequately investigate borrower complaints, failed to provide accurate information to new servicers when rights were sold, and failed to assist heirs with foreclosure prevention. Additionally, the complaint alleged that Ocwen did not properly remediate borrowers for harm caused. “Ocwen has repeatedly made mistakes and taken shortcuts at every stage of the mortgage servicing process, costing some consumers money and others their homes,” CFPB Director Richard Cordray said. “Borrowers have no say over who services their mortgage, so the Bureau will remain vigilant to ensure they get fair treatment.”Ocwen responded to the suit, calling the CFPB’s actions “politically motivated and a reaction to the change of administration and recent scrutiny of the CFPB’s activities.” Additionally, Ocwen released the following statement: “The substantive allegations in today’s suit are inaccurate and unfounded. Indeed, the Company is unaware of the CFPB conducting any detailed review of Ocwen’s loan servicing files.  The CFPB suit is primarily based on the CFPB’s flawed review of data and its self-serving conclusion about isolated instances where Ocwen self-identified ways we can do better.” In a separate statement, Ocwen noted that it “will not sign unfair and unjust consent orders that make impractical demands that no other market participant could rationally accept, and which would harm consumers.””Under these circumstances, Ocwen has a responsibility to its customers, shareholders, and employees to vigorously defend the Company against unfounded claims while continuing to work with State Regulators to resolve any valid concerns,” said the statement.In a separate suit, the state of Florida alleged Ocwen committed errors that caused “significant harm to borrowers.” Twenty other states also followed suit in taking legal action against the lender.In response to these filings, an Ocwen spokesperson said “We have just received various orders from state mortgage regulators, and are in the process of reviewing them in detail. We will respond promptly to all of the matters raised after a full review.”Ocwen is one of the country’s largest non-bank mortgage lenders, with a portfolio of nearly 1.4 million loans and a balance of $209 billion. Aly J. Yale is a freelance writer and editor based in Fort Worth, Texas. She has worked for various newspapers, magazines, and publications across the nation, including The Dallas Morning News and Addison Magazine. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Aly J. Yale Previous: Greenspan: Dodd-Frank Stifling Stock Market Next: Paper Proposes Plan for GSE Reform Demand Propels Home Prices Upward 2 days agolast_img read more

first_imgSubscribe  Print This Post BCFP CFPB Kathy Kraninger Mick Mulvaney nomination President White House 2018-06-16 Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago June 16, 2018 1,937 Views 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. in Daily Dose, Featured, Government, News Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Related Articles About Author: Radhika Ojha Previous: Redirecting Default Risk Away From Taxpayers Next: Today’s Top Challenges for Financial Services Law Firmscenter_img The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Will Kraninger Succeed Mick Mulvaney as CFPB Chief? Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: BCFP CFPB Kathy Kraninger Mick Mulvaney nomination President White House Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Will Kraninger Succeed Mick Mulvaney as CFPB Chief? Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Trump administration announced on Saturday that it intended to nominate Kathy Kraninger an associate director at the Office of Management and Budget to head the Bureau of Consumer Financial Protection.She will succeed Acting Director Mick Mulvaney at the bureau. “The President intends to nominate Kathy Kraninger to be the next Director of the Bureau of Consumer Financial Protection,” Lindsay Waters, the White House deputy press secretary said in a statement.It is widely expected that Kraninger will face a tough confirmation vote in the Senate after Mulvaney introduced a slew of changes that have been opposed by consumer advocates and Democrats alike.According to the statement, Kraninger will bring a “fresh perspective and much-needed management experience” to the Bureau, “which has been plagued by excessive spending, dysfunctional operations, and politicized agendas. As a staunch supporter of free enterprise, she will continue the reforms of the Bureau initiated by Acting Director Mick Mulvaney, and ensure that consumers and markets are not harmed by fraudulent actors.”The nomination comes at a time when Mulvaney’s term as acting director is set to expire on June 22. Mulvaney, who works above Kraninger as Budget Chief at the OMB is likely to be the bureau’s leader until she’s confirmed according to the Wall Street Journal.Mulvaney’s entry into the Bureau in November 2017 was a controversial one and has been in the news in the recent month as much for the changes he’s brought to the CFPB as the controversies around them. From requesting $0 for the Bureau’s budget in Q2, and recommending four key changes to make the Bureau “more transparent and accountable,” to the more recent change of name from the Consumer Financial Protection Bureau to the Bureau of Consumer Financial Protection, the Acting Director is expected to leave his mark before he hands over the reins to his successor.last_img read more

first_img Where is Single-family Rental Growing the Most? Previous: Implementing Blockchain Into Real Estate Next: The Price Tag of Owning a Home 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. Home / Daily Dose / Where is Single-family Rental Growing the Most? Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: CoreLogic Demand Homes HOUSING Rental rents Single-Family Homes Supply Data Provider Black Knight to Acquire Top of Mind 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 CoreLogic Demand Homes HOUSING Rental rents Single-Family Homes Supply 2018-08-23 Krista Franks Brock Single-family rental prices have been on the rise for the past eight years, but their incline has been leveling off since early 2016, according to the latest data from CoreLogic. Single-family rental prices rose 3 percent over the year in June and have risen a cumulative 4.1 percent over the first six months of this year, according to CoreLogic’s Single-Family Rent Index, released Thursday. At the national level, single-family rental price growth reached its peak in February 2016 at 4.2 percent. For the first half of this year, prices have risen an average of 2.8 percent over the year each month. The pace of increase has depended somewhat on the type of property.“High demand and low supply of lower-priced single-family rental properties continue to push up rents for this segment of the rental market,” said Molly Boesel, Principal Economist at CoreLogic. “With these market forces expected to stay in place in the near term, rents on lower-priced rental properties should continue to outpace those of higher-end properties.” On an annual basis, prices grew more for low-end single-family rentals, about 3.9 percent, compared to 2.8 percent for higher-end rentals. CoreLogic defines “low-end rentals” as those with rental prices less than 75 percent of the regional median price, whereas “high-end” rental properties are those that are more than 125 percent of the area’s median rent. Rental price growth is concentrated in metros with “limited new construction, low rental vacancies and strong local economies” as well as areas affected by major hurricanes, according to CoreLogic. The highest rate of single-family rent price growth among the 20 metros CoreLogic tracks took place in Las Vegas. Prices rose 5.4 percent per month on an average annual basis over the first half of the year. Orlando and Phoenix ranked No. 2 and No. 3 with an average of 5.2 percent and 4.7 percent annual price growth for each of the first six months of this year. While nearly all 20 of the major metros CoreLogic observed experienced price increases in each of the first six months of this year, Honolulu was the one outlier. Honolulu experienced its first single-family rental price increase in seven months in May. In June, prices rose again, increasing 1.4 percent over the year. CoreLogic also highlighted the fact that hurricane-impacted Houston “shows impressive year-over-year increases in the first half of 2018, peaking at 4.4 percent year over year in May and settling at 3.9 percent year over year in June 2018.” Servicers Navigate the Post-Pandemic World 2 days agocenter_img Related Articles Demand Propels Home Prices Upward 2 days ago Share Save in Daily Dose, Featured, Market Studies, News  Print This Post Demand Propels Home Prices Upward 2 days ago Subscribe About Author: Krista Franks Brock Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago August 23, 2018 2,171 Views The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

first_img Tagged with: Affordability California CoreLogic Housing Market median sale price Previous: Risking Another Housing Crisis? Next: A Snag Called Housing Affordability Slow Home Sales in the Golden State About Author: Donna Joseph California home sales recorded the slowest growth in seven years with a decline in deals below $50,000, according to a CoreLogic report. The sales in the Golden State dropped on a year-over-year basis for the third consecutive month, hitting a seven-year low, the report found. It also pointed out that constraints in affordability and an increasing number of cautious buyers continue to weigh on the market. CoreLogic public records data found that an approximate of 38,159 new and existing houses and condos were sold statewide, recording an increase from 12.5 percent in September 2018 The report reflects an increase of 1.5 percent in the average change in sales since 2000. Year-over-year sales dropped, recording annual declines of 9.3 percent,7.1 percent and 17.1 percent this June, August, and September respectively. Sales of $500,000 or more moved up by 0.4 percent and $1 million-plus deals is at 5 percent compared to last year. Sales below $500,000 fell 13.1 percent on a year-over-year basis. The report indicated that affordability took a serious hit with a rise in mortgage interest rates rise and low inventory, among lower-cost homes, undermining sub-$500,000 sales. According to CoreLogic, the median price paid for all new and existing houses and condos sold across the state in October 2018 was $487,000—up 0.4 percent from September and up 5.9 percent from October 2017.An annual gain of 5.9 percent in October’s median sale price is reflective of the impending affordability challenge many would-be buyers will face, the report noted. Over the past year, the state’s median-priced homes projected a sharp increase in monthly principal-and-interest mortgage payment at 18.2 percent. Absentee buyers – including investors and second-home buyers – accounted for 22 percent of the state’s home purchase transactions in October, up from 21.5 percent a year earlier, the report said. Read the full report here. The Best Markets For Residential Property Investors 2 days ago Affordability California CoreLogic Housing Market median sale price 2018-12-10 Donna Joseph Share Save Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Market Studies, News Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago 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 December 10, 2018 3,734 Views Home / Daily Dose / Slow Home Sales in the Golden State The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 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] Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

first_img The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Is Housing Stock Meeting Demand? Next: Industry Reacts: Fed Cuts Rates Again Tagged with: credit CRT Freddie Mac Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac recently announced that its Single-Family Credit Risk Transfer (CRT) programs have surpassed the $50 billion mark in transferring credit risk to private investors and (re)insurers. From program inception to date, the company has transferred a portion of the credit risk on more than $1.3 trillion of Single-Family mortgages based on unpaid principle balance (UPB) at issuance.Per Federal Housing Finance Agency (FHFA) guidelines, Freddie Mac now transfers the credit risk on more than 90% of the UPB on CRT-eligible, newly-acquired Single-Family mortgages.“I am proud of our accomplishments and the positive impact we are making on the U.S. housing finance industry,” said Mike Reynolds, VP, Single-Family Credit Risk Transfer. “Freddie Mac will continue to lead the industry with innovation in the CRT space and set the standard for credit risk management.”The goal of Freddie Mac’s Single-Family CRT programs is to transfer credit risk away from U.S. taxpayers to global private capital via securities and (re)insurance policies. Earlier this year, Freddie Mac reported a slight increase in comprehensive income in Q2 2019 from the previous quarter, up to $1.8 billion.“Freddie Mac’s second quarter continued our growing track record of strong returns, solid risk management and an unwavering commitment to our mission,” said Freddie Mac CEO David Brickman. “Once again, we made home possible for hundreds of thousands of families across the country.”Freddie Mac’s release also notes how the GSE prevented foreclosure in the first half of 2019, having completed approximately 26,000 single-family loan workouts in the six months ended June 30, 2019.Fannie Mae and Freddie Mac completed 1,746 foreclosure prevention actions in April 2019, according to the latest FHFA Foreclosure Prevention, Refinance, and Federal Property Manager’s Report. The report states that the GSEs have completed 4,334,550 since the start of conservatorship in September 2008.In the six months that ended on June 30, 2019, Freddie Mac provided approximately $212 billion in liquidity to the market. Freddie funded around 702,000 single-family homes, approximately 445,000 of which were home purchase loans, and around 343,000 multifamily rental units. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save in Daily Dose, Featured, Government, News, Secondary Market The Best Markets For Residential Property Investors 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agocenter_img About Author: Seth Welborn 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.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Freddie Mac Passes $50B in Credit Risk Transfers Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Freddie Mac Passes $50B in Credit Risk Transfers Data Provider Black Knight to Acquire Top of Mind 2 days ago September 18, 2019 2,540 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago credit CRT Freddie Mac 2019-09-18 Seth Welborn Subscribelast_img read more

first_img Previous: Technology’s Role in Dealing with Disasters Next: A Focus on REO Performance Related Articles Home / Daily Dose / A New Alternative to Affordable Housing? Demand Propels Home Prices Upward 2 days ago About Author: Mike Albanese The Week Ahead: Nearing the Forbearance Exit 2 days ago September 23, 2019 1,531 Views A New Alternative to Affordable Housing? Tagged with: Investment Single-Family Rent Sign up for DS News Daily Share Save 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 Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago A report by Bloomberg details an Atlanta startup called PadSplit, which is working to help landlords turn rental properties into pay-by-the-week rooming houses. The company already manages more than 400 rooms in lower-and-middle-income neighborhoods of single-family homes. “We’re investing in this because we have basically come to believe that there is going to be a housing crisis again,” says Arjan Shütte, Founder of Core Innovation Capital, a venture capital firm that’s backing PadSplit. “Ten years ago the crisis was a financial one. This time it’s a crisis of supply.”  PadSplit instructs landlords on how to convert properties into lodging and then manages them for a fee, working within local regulations. The report states that Atlanta currently doesn’t allow rooming houses in single-family neighborhoods. PadSplits are designed so the tenants meet the city’s definition of “single family”: up to six unrelated people, plus another four, as long as the latter occupy no more than two rooms. Bloomberg states that PadSplit Founder Atticus LeBlanc plans to spread the concept and estimated 14 million people in the U.S. are candidates for PadSplit housing. Atticus says he is targeting “the thousands of mom and pop investors out there taking rent.” He claims investment returns can jump to 9% from 6%, due to the economics and how the house is structured. The report adds that a six-bedroom house that stays fully rented can take in $43,000 in annual revenue. According to the report, single-room housing disappeared in the 1990s as more than 1 million units where either banned, or had limited zoning. Housing insiders are divided on the idea, and Chris Ptomey, Director of the Urban Land Institute in Washington, says in the report that advocates have been hoping “co-living” arrangements could expand to low-wage workers at a larger scale. “I think there’s a lot of hope that these kinds of models could work at a lower price point,” he says. “I think it’s a great, novel model if it can be additive, if it can add units that are affordable.”Georgia State University professor Dan Immergluck said PadSplit is mainly a testament to the severity of the housing situation. “It’s kind of a market solution, I guess, for the affordable housing crisis, to get one room, on a week-to-week basis, that really could be yanked out from under you at any time,” Immergluck said. “It’s a logical market response to a desperate need among single, low-income people. It’s designed for people earning $10 to $12 per hour.” The Best Markets For Residential Property Investors 2 days ago Investment Single-Family Rent 2019-09-23 Mike Albanese Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Investment, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

first_imgHome / Daily Dose / Biden Continues Presidential Primary Lead Share Save Joe Biden President 2020-03-17 Seth Welborn in Daily Dose, Featured, Investment, News March 17, 2020 986 Views Demand Propels Home Prices Upward 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 ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles 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. center_img Previous: Mortgage Servicing in an Election Year Next: What is Causing the Drop of Rent-Burdened Households Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Joe Biden President About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Biden Continues Presidential Primary Lead Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post As of press time, former Vice President Joe Biden has won the majority of delegates in the Tuesday primaries, taking Florida and Illinois. Tuesday’s elections were heavily impacted by the coronavirus outbreak, as Ohio, which was originally scheduled to vote, moved their primary to July 2.Biden and fellow candidate Bernie Sanders met in an audience free-debate on Sunday, when both candidates focused on how the Coronavirus was impacting the national debate, with Sanders calling for national reform to healthcare.Biden’s and Sanders’ remarks are not surprising during a weekend already marked by response from the government and industry toward how mortgages will be impacted by Coronavirus.Bloomberg reports that the Trump administration is considering a plan to allow homeowners whose income was impacted by COVID-19 to delay mortgage payments.The report adds a mechanism for borrowers to catch up has yet to be decided. Also, the government will have to determine how to advance money to servicers so investors in mortgage-backed securities get their guaranteed payments.Biden’s plan for housing includes a $640 billion investment over 10 years, to allow Americans to have access to affordable housing.According to a release, Biden plans to end redlining and other discriminatory and unfair practices in the housing market, provide financial assistance and down-payment assistance, increasing the supply and lowering the cost of housing, and pursuing a “comprehensive approach” to end homelessness.The plan says Americans should have access to housing that takes up no more than 30% of their household income.He added that he would work to protect homeowners and renters from “abusive” lenders and landlords through a new Homeowners and Renter Bill of Rights, modeled after the California Homeowner Bill of Rights.“Biden will enact legislation to end many shortcomings in the mortgage and rental markets,” the release states. “This new Bill of Rights will prevent mortgage brokers from leading borrowers into loans that cost more than appropriate, prevent mortgage servicers from advancing a foreclosure when the homeowner is in the process of receiving a loan modification, give homeowners a private right of action to seek financial redress from mortgage lenders and servicers that violate these protections, and give borrowers the right to a timely notification on the status of their loan modifications and to be able to appeal modification denials.Biden’s plan also calls for a $100 billion affordable housing fund to construct and upgrade affordable housing. Also, $65 billion in new incentives for state housing authorities and the Indian Housing Block Grant program to construct or rehabilitate low-cost, efficient, resilient, and accessible housing in areas where affordable housing is in short supply is included in the plan. Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more