Wells Fargo Agrees to Pay a Steep Price for FHA-Insured Defaults

first_imgSign up for DS News Daily  Print This Post Wells Fargo Agrees to Pay a Steep Price for FHA-Insured Defaults About Author: Xhevrije West Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Wells Fargo on Wednesday reached a billion-dollar settlement agreement in principle to resolve claims surrounding its Federal Housing Administration (FHA) lending activities.Since 2012, the lender has been involved with the U.S. government regarding allegations that it was “reckless” in certifying the credit and underwriting quality of FHA loans it originated. The FHA had to pay out insurance claims on FHA-insured mortgages that defaulted.According to a Securities Exchange Commission (SEC) 8-K filing on Wednesday, Wells Fargo reached an “agreement in principle” with the U.S. Department of Justice, the U.S. Attorney’s Office for the Southern District of New York, the U.S. Attorney’s Office for the Northern District of California, and HUD.The SEC filing noted that Wells Fargo has agreed to pay $1.2 billion to resolve civil claims that the federal government had pending against the bank concerning its lending program from 2001 to 2010, including other potential civil claims relating to the lender’s FHA lending activities for other periods.”Although the Company and the Federal Government have reached an agreement in principle to resolve these matters, there can be no assurance that the Company and the Federal Government will agree on the final documentation of the settlement,” the bank said in the SEC filing.Catherine B. Pulley, SVP, Consumer Lending Communication at Wells Fargo, told DS News, “Wells Fargo and the United States government have reached an agreement in principle to resolve claims regarding our FHA lending activities, and the company has made an addition to its previously announced reserves to reflect this development. However, we can’t provide any additional details at this time.”The 8-K filing showed that the settlement will knock $134 million, or $0.03 per share, off the company’s 2015 profits, dropping earnings down to $22.9 billion, or $4.12 a share.The net income numbers for Wells Fargo in Q4 and for the full year of 2015 were little changed year-over-year, according to Wells Fargo’s Q4 2015 earnings statement. Wells Fargo’s Q4 2015 net income of $5.7 billion, price of $1.03 per share, and full year net income of $23 billion were all virtually the same as the year before (the full year net income did slightly decline, from $23.1 billion in 2014 down to $23.0 billion in 2015).“Full year and fourth quarter 2015 results demonstrated the benefit of our diversified business model as we again generated strong financial results, maintained our risk discipline and continued to invest across the company for future growth,” Wells Fargo Chairman and CEO John Stumpf said. “We remained focused on the building blocks of long-term shareholder value, with continued growth in loans, deposits and capital. For the fifth consecutive year, we returned more capital to shareholders than the prior year. I am proud of the dedication of our team members and their focus on helping our customers succeed financially.”Click here to view Wells Fargo’s SEC 8-K Filing. Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: FHA Mortgage Defaults Mortgage Insurance Settlements Wells Fargocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Ten-X Forecasts Normalization of Existing-Home Sales Next: Fairholme CEO: ‘Common Sense Solution Will Prevail’ in Battle Over GSE Profits Related Articles FHA Mortgage Defaults Mortgage Insurance Settlements Wells Fargo 2016-02-03 Brian Honea Home / Daily Dose / Wells Fargo Agrees to Pay a Steep Price for FHA-Insured Defaults Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago February 3, 2016 1,622 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

Falling Fast: UPB of Fannie Mae’s Mortgage Portfolio Plummets

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea February 1, 2016 3,551 Views Falling Fast: UPB of Fannie Mae’s Mortgage Portfolio Plummets Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Mortgage-Related Investments 2016-02-01 Brian Honea Demand Propels Home Prices Upward 2 days ago Tagged with: Fannie Mae Mortgage-Related Investments Demand Propels Home Prices Upward 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. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News, Secondary Market Urban Institute reported earlier this month that the mortgage-related investment portfolios for both Fannie Mae and Freddie Mac continue to contract and were both well below their 2015 portfolio cap as of the end of November.Whereas Freddie Mac’s mortgage-related investment portfolio took an upward turn in December, however, Fannie Mae’s mortgage portfolio continued contracting at a substantial rate, according to Fannie Mae’s December 2015 Monthly Volume Summary.Fannie Mae’s gross mortgage portfolio contracted at a compound annualized rate of 25.1 percent in December, leaving the aggregate unpaid principal balance (UPB) of the loans in the portfolio at $345.1 billion. It was the portfolio’s ninth consecutive month of contraction, and the portfolio contracted at a rate of 16.5 percent for the full year of 2015. The aggregate UPB in the portfolio was $413.3 billion at the end of December 2014.  The portfolio’s value in December fell even further below the cap for 2015 of $399.18 billion and remains slightly higher than the 2016 cap, which is $339.4 billion.Fannie Mae’s gross mortgage portfolio has expanded in only three months out of the last 65 since June 2010 (March 2015, January 2015, and December 2012). At the beginning of that stretch in June 2010, the portfolio’s value was $818 billion.The total book of business for Fannie Mae, which includes the gross mortgage portfolio plus total Fannie Mae mortgage-backed securities and other guarantees minus Fannie Mae MBS in the portfolio, contracted at an annual rate of 0.2 percent in December down to a total value of about $3.099 trillion. For the full year of 2015, the book of business contracted at a rate of 0.8 percent.The number of loan modifications completed by Fannie Mae was up over the month, from 5,618 in November up to 6,599 in December. For the full year of 2015, Fannie Mae completed 94,212 loan mods, an average of 7,851 per month. This number was way down from the average of 10,235 loan mods per month completed on Fannie Mae-backed loans for the full year of 2014.The serious delinquency rate on single-family mortgages insured by Fannie Mae declined by three basis points from November to December down to at 1.55 percent after holding flat at 1.58 percent from October to November. The serious delinquency rate for Fannie Mae is consistent with the level reported for September 2008—the month that both Fannie Mae and Freddie Mac were taken into conservatorship by the FHFA, at the onset of the housing crisis.Click here to view Fannie Mae’s entire December 2015 Monthly Volume Summary. Home / Daily Dose / Falling Fast: UPB of Fannie Mae’s Mortgage Portfolio Plummets Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: The Hawkeye Hustle: Presidential Candidates Still Dancing Around Housing Policy Next: Economic Uncertainty Is Not Dampening Housing for 2016, So Far Related Articles Sign up for DS News Daily Subscribelast_img read more

The Best Markets for Investors Are. . .

Home / Daily Dose / The Best Markets for Investors Are. . . in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily March 24, 2016 1,265 Views  Print This Post The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Tagged with: Housing Markets Investors Nationwide Title 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 Investors Are. . . Demand Propels Home Prices Upward 2 days ago Subscribe About Author: Xhevrije West Housing Markets Investors Nationwide Title 2016-03-24 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Share Save Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: DS News Webcast: Friday 3/25/2016 Next: The New Homebuying Age: Technology Shapes Purchasing Decisions New, healthy housing markets are emerging in the midst of further improvement of the real estate market overall. Which markets present the most opportunity for investors?Nationwide’s Health of Housing Markets Report for the first quarter of 2016 showed that its leading index of healthy housing markets (LIHHM) is in a healthy zone which suggests that the housing market is a sustainable condition.According to the report, the current value for the national index is 105.4, the lowest level in two years, where a value over 100 suggests that the national housing market is healthy, with a low chance of a downturn.Household formations, which had been above the long-term trend for the past year, fell sharply in the fourth quarter—lowering the main demographic housing demand factor in the national LIHHM,” Nationwide said in the report, “Regionally, the LIHHM performance rankings show that the vast majority of metro areas across the country are healthy, indicating that few regional housing markets are vulnerable to a housing downturn—but the outlook for sustainable housing activity in local markets with strong ties to the energy sector continues to deteriorate as low oil prices persist.”According to the data, the top 10 healthiest MSAs are located in Dayton, Ohio; Yakima, Washington; Cleveland-Elyria, Ohio; Saginaw, Michigan; and Syracuse. New York; Trenton. New Jersey; Niles-Benton Harbor, Michigan; Memphis, Tennessee-Mississippi-Arkansas; Lansing-East Lansing, Michigan; and Columbus, Ohio.Nationwide also reported that demographics are expected to “turn positive again for housing demand soon, in spite of a surprising decline in household growth at the end of 2015.””Trends in household growth are a key determinant of housing demand at the national and local levels. Household formations tend to accelerate as employment and income conditions improve, supporting further growth for both rental and owner-occupied units,” the report stated. “The balance between housing supply and demand is an important driver of healthy trends in house price growth and housing affordability.”Nationwide found that data shows household growth will impact the overall housing market health in the following ways:Above-average growth in the housing boom: Following a drop-off in 2002-03 in response to the 2001 recession and accompanying the “jobless recovery,” average household growth was stronger than the long-term median of 1.2 million per year. Positive economic growth, strong job gains, and double-digit house price gains led to a surge in household formations during the housing boom—helping to create imbalances in the housing market.Bust recession and tepid recovery: Bust, recession, and tepid recovery: Weak household growth following the Great Recession (well Weak household growth following the Great Recession (well-below the long-term median) was indicative of still strained labor market conditions for many potential homebuyers, particularly those from the millennial generation.Recent growth and looking ahead: Beginning in the fourth quarter of 2014, the cumulative boost from stronger job growth over the prior two years, particularly for the 25-34 age cohort, and the pent-up demand to form households resulted in a sizable jump in national household formations. The recent economic, jobs and wage data do not support the surprising 2015 Q4 decline. Consequently, we expect LIHHM household formations to accelerate again soon, boosting housing demand and pushing up the LIHHM.Click here to view the full report. read more

Altisource CRO Talks Microbubbles

first_imgSign up for DS News Daily Q: What are some of the hot topics and perhaps challenges that servicers are concerned with today?A lot of energy is being spent on the storms in Florida and Texas. We, as a vendor, are working with our clients to help them assess what the exposure is and making sure that their properties are getting secured. We have people out in the field updating information so that we can help the servicers and ultimately help the borrowers.Many discussions are about the direction that’s going to be given from the agencies on what the options are for loss mitigation and property preservation. Additionally, coming up with data that everyone could look at to work and assess what everyone’s exposure is for their investors. There are many good ideas—now it’s just getting those ideas and putting them into action.Q: Have there been concerns regarding innovation in the servicing space?Yes—budgets are tight in servicer’s operations these days. A lot of money and time has been spent on compliance and shoring up the operations, and the industry has done a very good job—from a compliance standpoint—of getting out the consent orders, ensuring that their operations are sound and in compliance. Concerning people working with tighter budgets—how can you still get things done? That means being more efficient, utilizing technology a little bit differently, and coming up with new innovative ideas to help move their business forward.Q: How do you feel about the possibility of microbubbles in Houston following the moratorium? There will be microbubbles, and there are going to be implications for all the markets, even when it comes to the real estate movement, as far as buying and selling real estate. But I think the major issues are going to be unemployment and the self-employed borrowers—the local businesses. It will impact the ability to pay, their ability to get to work if their cars were flooded and no longer working. Loss mitigation is going to be a big issue. Ultimately the borrower and the impact on the borrower is a big issue.Q: How does that break down further?So, the properties themselves—we know what happens when a property is exposed to mold and not properly treated. The value of that home obviously declines, which declines home values in the local market, which could cause a bubble. Then when it comes to new financing in these hard-hit areas, there will be more risk pricing, which could impact the ability to get loans in those local areas that have a propensity for flooding, propensity for storm damage. That could impact the market, as well.  Print This Post in Daily Dose, Featured, Headlines, Loss Mitigation, News Altisource Microbubble Servicing 2017-09-25 Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago Subscribe About Author: Brianna Gilpin Altisource CRO Talks Microbubbles Tagged with: Altisource Microbubble Servicing The Best Markets For Residential Property Investors 2 days ago Previous: JPMorgan Chase: Assisting in 4 Economic Growth Areas Next: GSE Portfolio Shows Improvement Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 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] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Altisource CRO Talks Microbubbles Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago John Vella, CRO of Altisource speaks with Brianna Gilpin, Online Editor of DS News and MReportJohn Vella is a 30-year real estate industry veteran who has served in a number of C-level roles at companies throughout the real estate and mortgage industry during his career. Prior to joining Altisource, Vella was EVP of Special Servicing for GMAC/Rescap. Previously, he held roles as President and CEO of EMC Mortgage Corporation (a subsidiary of JPMorgan Chase); CEO of Household Automotive; Chief Sales Officer of Option One Mortgage and Director at Freddie Mac and the FDIC.Vella spoke with DS News at the 2017 Five Star Conference and Expo on the challenges servicers are experiencing in the market as well as the possibility of regional microbubbles following the recent hurricanes in Texas and Florida. Related Articles 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 September 25, 2017 2,012 Views Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

The Week Ahead: Eye on Home Values

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: CoreLogic Growth Home Prices 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. in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago June 28, 2019 1,170 Views Servicers Navigate the Post-Pandemic World 2 days agocenter_img The Week Ahead: Eye on Home Values Previous: Preventing Real Estate Wire Fraud Next: Blend Announces $130M in Funding Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles On Tuesday, Corelogic will release its latest Home Price Insights report (HPI). Corelogic’s previous report, for April, revealed a 3.6% year-over-year increase in home prices nationally, and prices are expected to increase 4.7% over the next year.CoreLogic states that April’s HPI increase was down from the April 2018 gain of 6.6%, but a slight increase from March’s increase of 3.5%, indicating home price increases have flattened out.The HPI analyzes four separate home-price tiers, calculated relative to the median national home sale price. The lowest price tier saw the largest increase at 5.2%, followed by low-to-middle priced tier (4.4%), middle-to-moderate priced tier (3.9%), and then the high-priced tier (2.8%).Increases have been reported in the overall HPI on a year-over-year basis every month for the past seven years, and has gained 60.1% since March 2011. The HPI is 7.7% higher than it was at its pre-crisis peak in April 2006.CoreLogic reports that Idaho’s 10.3 appreciation rate was once again the best in the nation, and the state has maintained that ranking for the past seven months. North Dakota saw depreciation of 5%, which is the 10th consecutive month of annual HPI decreases. Home prices in 39 states, including the District of Columbia, have increased above pre-crisis peaks.Home prices in Connecticut for April 2019 were the farthest below their HPI, and still 18.8% below the July 2006 peak.Meanwhile, the latest S&P CoreLogic Case-Shiller HPI reveals slower growth in home prices. April’s 3.5% gain, according to the Case-Shiller HPI, is a 3.7% drop from the month prior.April’s report is the 13th consecutive month of slowing home-price growth, which is now at its lowest level of growth since September 2012.The 10-City Composite, increase, though, rose slightly from 2.2% to 2.3% in April, and the 20-City Composite recorded a 2.5% year-over-year increase, which is down from 2.6% from the prior month.Here’s what else is happening in the Week Ahead. Census Bureau Construction Spending Report (July 1)Ellie Mae Millennial Tracker (July 3)BLS Unemployment Rates (July 5) CoreLogic Growth Home Prices 2019-06-28 Seth Welborn Home / Daily Dose / The Week Ahead: Eye on Home Valueslast_img read more

The Cost of Trade Wars on Housing

first_imgHome / Daily Dose / The Cost of Trade Wars on Housing  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Previous: When Mortgage Fraud Hits Home Next: Following Home Price Growth Across the Nation 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. October 21, 2019 1,752 Views Subscribe Tagged with: Economic Growth Recession trade wars A forecast from Goldman Sachs says the ongoing trade war between China and the U.S.  is “kicking the tires” of growth, and added insight as to what that could mean for a recession.To combat recession fears, the Federal Reserve has slashed interest rates twice so far in 2019. The Fed cut rates in September to a target range of 1.75% to 2%. The Fed said in its policy statement that it was cutting rates “in light of the implications of global developments for the economic outlook as well as muted inflation pressures.””Starting with overall economic policy uncertainty, there is a clear negative correlation with capital spending,” Goldman Sachs wrote in its forecast. “However, the link weakens substantially when we take into account the FCI and company capex expectations (which both still signal a decent outlook).” The Council of Foreign Relations earlier this month projected that a recession could occur as soon as the 2020 Presidential Election. The report references the years preceding the 2008 financial crisis, which saw a rising gap in the growth in home prices and household income, and a “parallel dynamic is playing out” today.“In 2018, as in 2005, housing-price growth began falling rapidly, with significant price drops occurring in several major markets … The trend-line in existing-home sales growth has also been down since 2015, tipping into negative territory at the start of last year. Similar drops have preceded nearly every recession since 1970,” the report states. “Barring a large further escalation, we do not expect the trade war to cause a recession,” Daan Struyven and his team of economists wrote in a research note.Goldman Sachs predicted that the trade war would lower U.S. growth by about a quarter of a percentage point or 0.25%—much lower than the 2% decline during the 2008-09 financial crisis. Additionally, the report says that if these trends continue the economy should expect to see falls in home prices—possibly beginning by mid-2020—dragging down household spending with a falling economy. “Growth has been slowing, with Trump’s tariff war hitting exports. Manufacturing is contracting. Retail sales, excluding autos, have stalled. Consumer confidence is falling,” the report states.  The Best Markets For Residential Property Investors 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Economic Growth Recession trade wars 2019-10-21 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Mike Albanese Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Cost of Trade Wars on Housing The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Laudan Closing Property Preservation Business, Shifting Focus to Inspections

first_imgSubscribe Home / Daily Dose / Laudan Closing Property Preservation Business, Shifting Focus to Inspections Laudan Closing Property Preservation Business, Shifting Focus to Inspections Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Laudan Inspection Services Laudan Properties 2020-01-20 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Addressing Race in Home Inventory and Rental Policies Next: The Socioeconomic Impact of Postforeclosure Sales Laudan Properties announced Monday that it will be closing its property preservation business, effective January 20, and shifting its focus onto its property inspection division, Laudan Inspection Services (LIS). Laudan initially divided its property preservation sector from its inspections business in September 2019, then announcing the formation of Laudan Inspection Services.Brian Potasiewicz, SVP & General Manager of Laudan Properties and LIS, told DS News exclusively, “Laudan Inspection Services has seen considerable growth through 2019. We made the decision to focus on that growth through 2020 by stepping back from preservation and REO work. We’re excited about our new focus and looking forward to a lucrative future for Laudan Inspection Services.”As Laudan now repositions itself for future growth, Donn Wodicka, LIS Field Director, said in a statement, “LIS continues to achieve great things as there is a strong interest for on-time, high-quality inspections. We are willing to develop customized inspection products to meet our customers’ specific needs and that sets us apart.”Laudan Properties was originally founded in 2008, by entrepreneur Kevin Weidinger, starting as a single-state provider and then expanding to a national footprint over the intervening years. The company’s inspection services side offers bankruptcy inspections, borrower interviews, foreclosure & occupancy inspections, insurance loss inspections, natural disaster inspections, quality control inspections, rush service sale date inspections, and other services. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Journal, News, REO Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post January 20, 2020 2,522 Views Related Articles Tagged with: Laudan Inspection Services Laudan Properties 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] Share Save 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 About Author: David Wharton Demand Propels Home Prices Upward 2 days agolast_img read more

The Week Ahead: Positive Trends Signal Drop in Forbearances

first_img Demand Propels Home Prices Upward 2 days ago About Author: Eric C. Peck Monday afternoon marks the release of the latest Forbearance and Call Volume Survey from the Mortgage Bankers Association (MBA), and with a steady decline in forbearance volume, will the trend continue?There are currently an estimated 2.1 million homeowners in forbearance plans, a number that has dropped weekly for 11 consecutive weeks. Last week, 4.22% of servicers’ portfolio volume represented loans in forbearance, down 14 basis points from the previous week’s share of 4.36%.”The opening of the economy, as the successful vaccination effort continues, should lead to further reductions in the forbearance share,” said Mike Fratantoni, MBA’s SVP and Chief Economist. “However, many homeowners continue to struggle. Borrowers who are reaching the end of their forbearance term should reach out to their servicer to review their options.”With more and more Americans returning to the workforce and regaining their financial footing after the pandemic, will that number of homeowners in forbearance plans continue to plummet?This week, the U.S. Department of Labor reported the number of initial unemployment claims was initial claims was 444,000, a decline of 34,000 from the previous week’s revised level, marking the lowest level for initial claims since March 14, 2020 when unemployment claims stood at 256,000.That number, combined with the MBA’s total mortgage application volume rising 1.2% week-over-week, are two key spots that could signal economic strength in the near term.Here’s what else is happening in The Week Ahead:Senate Banking Committee Remote Hearing: The Semiannual Testimony on the Federal Reserve’s Supervision and Regulation of the Financial System (Tuesday)House Subcommittee on Oversight and Investigations Virtual Hearing-Consumer Credit Reporting: Assessing Accuracy and Compliance (Wednesday)Senate Banking Committee Remote Hearing: Annual Oversight of Wall Street Firms (Wednesday)MBA Weekly Applications Survey (Wednesday)Realtor.com Weekly Housing Market Recap (Wednesday)Terner Center for Housing Innovation at the University of California at Berkeley Webinar “Reducing the Complexity of Funding Affordable Housing: What Works?” (Thursday)House Financial Services Committee Virtual Hearing-Holding Megabanks Accountable: An Update on Banking Practices, Programs and Policies (Thursday)Freddie Mac Primary Mortgage Market Survey (Thursday)Senate Housing, Transportation, and Community Development Remote Hearing-Housing for Native Americans: Review of Federal Programs, Barriers, and Opportunities (Thursday)U.S. Department of Labor’s Unemployment Insurance Weekly Claims Report (Thursday)Black Knight weekly forbearance data (Friday) 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 Forbearance and Call Volume Survey Mike Fratantoni Mortgage Bankers Association (MBA) U.S. Department of Labor 2021-05-21 Eric C. Peck Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. The Week Ahead: Positive Trends Signal Drop in Forbearances Previous: FHFA Paper Challenges Assumptions About 2008 Financial Crisis Next: 2021 Five Star Conference Welcomes Home the Industry Home / Daily Dose / The Week Ahead: Positive Trends Signal Drop in Forbearances Sign up for DS News Daily center_img The Week Ahead: Nearing the Forbearance Exit 2 days ago 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 9 days ago 594 Views Tagged with: Forbearance and Call Volume Survey Mike Fratantoni Mortgage Bankers Association (MBA) U.S. Department of Labor  Print This Post Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, Journal, News Related Articles Subscribelast_img read more

FG seeks new system of penalties for fishing offences

first_imgNewsx Adverts Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook Pinterest Pinterest Previous articleACART hit back against calls for blood alcohol limit to be unchangedNext articleSignage around Letterkenny is an eyesore – Culbert News Highland Twitter Google+ Twitter FG seeks new system of penalties for fishing offencescenter_img RELATED ARTICLESMORE FROM AUTHOR By News Highland – May 12, 2010 Fine Gael Fisheries Spokesperson is calling on the Government to take on board a Fine Gael Bill to introduce administrative sanctions for fisheries offences, instead of the system of exclusively criminal sanctions currently in place in Ireland.Tom Sheehan says Ireland is out of step compared to other EU countries in relying on criminal sanctions only, regardless of the offence. In the case of one Donegal fisherman, he says, a file has been sent to the DPP for being 4 kilograms over quota. WhatsApp Minister McConalogue says he is working to improve fishing quota Facebook WhatsApp Dail hears questions over design, funding and operation of Mica redress scheme 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton last_img read more

Almost 25% of pupils in protestant schools are from a catholic background

first_img WhatsApp Newsx Adverts Almost 25% of pupils in protestant schools are from a catholic background Twitter Dail hears questions over design, funding and operation of Mica redress scheme Dail to vote later on extending emergency Covid powers Twitter Google+ Facebook Pinterest Pinterest WhatsAppcenter_img Previous articleCCC-NW says Altnagelvin Radiotherapy Unit plans remains on trackNext articleGAA – NFL Donegal v Cork Preview News Highland By News Highland – March 3, 2012 Facebook RELATED ARTICLESMORE FROM AUTHOR Man arrested in Derry on suspicion of drugs and criminal property offences released HSE warns of ‘widespread cancellations’ of appointments next week Google+ PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Man arrested on suspicion of drugs and criminal property offences in Derry A new survey shows that almost a quarter of pupils in Protestant primary schools come from a Catholic background.The ‘Our School Community’ survey also found that Protestant schools throughout Ireland cater for a broad range of religious and cultural diversity.Academic success and reputation was the most important reason for almost half of parents when choosing a Protestant school.The national survey comes as fears are expressed for the future of some small protestant schools in Donegal under new budgetary rules. Those fears will be among the issues highlighted at a protest rally in Letterkenny a week from today.Principal of the Church of Ireland College of Education is Dr Anne Lodge………..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/03/lodge2pm.mp3[/podcast]last_img read more