Looking Back: Hensarling’s Announcement to Impact the Industry

first_img October 31, 2017 1,687 Views Tagged with: Hensarling HOUSING Housing Finance Committee mortgage Senate Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Looking Back: Hensarling’s Announcement to Impact the Industry Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Looking Back: Hensarling’s Announcement to Impact the Industry The Best Markets For Residential Property Investors 2 days ago  Print This Post Hensarling HOUSING Housing Finance Committee mortgage Senate 2017-10-31 Nicole Casperson The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] in Daily Dose, Featured, Government, Headlines, News Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Previous: Housing Gains Are No Mere Rebound: Will it Last? Next: Hidden in Plain Sight Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe U.S. Rep. Jeb Hensarling (R-Texas), who currently chairs the Financial Services Committee, announced Tuesday that he will not seek re-election in 2018.”Today I am announcing that I will not seek re-election to the US Congress in 2018. Although service in Congress remains the greatest privilege of my life, I never intended to make it a lifetime commitment, and I have already stayed far longer than I had originally planned,” Hensarling wrote in a statement on Tuesday, according to the Dallas Morning News.Despite his retirement announcement, Hensarling expressed how more work remains at the House Financial Services Committee in the areas of housing finance reform, regulatory relief, cybersecurity, and capital formation. “Furthermore, important work remains in the Congress as a whole—especially pro-growth tax reform. I look forward to continuing this work on behalf of the people of the 5th District of Texas and all Americans,” Hensarling wrote.Looking back at Hensarling’s financial positions, this announcement could impact the housing industry.Hensarling has long advocated replacing Dodd-Frank, the reform package designed to limit the high-risk practices that triggered the financial crisis, and has often been at odds with Consumer Financial Protection Bureau (CFPB) Director Richard Cordray.DS News has been following Hensarling vs. Cordray throughout the year, reporting Hensarling’s displeasure towards the bureau.Additionally, Hensarling once called it, “the most powerful and least accountable Washington bureaucracy in history.”To defend himself and the bureau, Cordray responded at the time, “Years of uneven federal oversight on behalf of consumers allowed a lot of bad behavior to go unchecked. As the independent consumer watchdog, we are solely focused on the job Congress gave us of assuring that these markets are fair, transparent, and competitive and consumers have access to sound financial products and services.”However, on June 8, 2017, the House of Representatives passed the Financial CHOICE Act, originally introduced by Hensarling, as it significantly amending the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, DS News reported.In mid-April, Republicans introduced the bill, arguing that Dodd-Frank and the subsequent regulation that ensued harms economic growth and ultimately, the American consumer. According to the proposal, Dodd-Frank’s particular brand of regulatory complexity and government micromanagement made basic financial services less accessible to small businesses and lower-income Americans.Hensarling has continuously fought for what he is passionate about during his time in office and although his time is coming to a close, he assures the public that he will continue to press for what he believes is best for the financial services of the American people.”Although I will not be running for re-election, there are 14 months left in my congressional term to continue the fight for individual liberty, free enterprise, and limited constitutional government—the causes for which I remain passionate,” Hensarling wrote.The industry will have to wait and see how the rest of Hensarling’s term pans out to determine the type of impact the end of his tenure will truly have.Hensarling has represented Congressional District 5 in the Dallas area since he was elected in November 2002.Rep. Pete Sessions (R-Texas) said in a statement that throughout his time in Congress, Hensarling has always been a conservative, principled leader, Dallas Morning News reported. “I want to thank him for his service to our country, the Texas delegation, and to our conference as Financial Services Chairman,” Sessions said. “I am proud to call Jeb not only my colleague but my dear friend.” About Author: Nicole Casperson Related Articles Share Save The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Default Data After the Great Recession

first_imgSign up for DS News Daily Tagged with: default Great Recession GSEs HAMP Housing Bubble JPMorgan Chase mortgage mortgage modification Default Data After the Great Recession Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The collapse of the housing bubble and the Great Recession that followed left many mortgage borrowers deep “underwater,” owing more on their mortgage than it was actually worth. With many losing their jobs and struggling to keep their homes, it’s no surprise that delinquency rates on residential mortgages increased sharply during the years after the collapse. Now a new JPMorgan Chase report analyzes the various mortgage modification programs that were instituted to help mitigate the damages of the financial crisis, and what they meant for the borrowers who made use of them.JPMorgan Chase’s report sampled from 1 million Chase mortgage customers who received a modification, creating a data asset of 450,000 de-identified modification recipients. Those spotlighted borrowers all fit three criteria: 1) they received a modification from the Federal Government’s Home Affordable Modification Program (HAMP), one of the GSEs, or a Chase proprietary modification program; 2) the modification happened between July 2009 and June 2015; and 3) it was their first mortgage modification.Chase found that “borrowers with similar payment burdens (as measured by pre-modification mortgage payment-to-income ratio, or PTI) received considerably different payment reductions depending on the modification they received.” Borrowers with a mortgage PTI above 50 percent doubled the amount of payment reduction they received from HAMP as opposed to the GSE program—a -55 percent HAMP reduction versus -27 percent under the GSEs. On the other end of the spectrum, borrowers with a low mortgage PTI benefited much less from HAMP. The GSE program granted a -25 percent payment reduction for these borrowers, compared to only -8 percent for HAMP.According to Chase’s report, a little can go a long way: the report found that a mortgage payment deduction of only 10 percent could decrease the default rate by 22 percent. The report also discovered that most defaults by “underwater” borrowers were likely not “strategic defaults”—in other words, the borrowers weren’t realizing they were underwater and deciding simply to try and cut their losses. “There was no difference between the post-modification default rates of borrowers who received principal plus payment reduction and borrowers who received only payment reduction,” according to Chase.Instead, by far the driving factor for defaults was found to be sudden income loss. Chase report found a pattern of drops in income being followed closely by a default. That’s not surprising, but it does further clarify why many borrowers wind up defaulting. Chase’s report says, “This pattern held regardless of pre-modification mortgage PTI or loan-to-value (LTV) ratio, suggesting that it was an income shock rather than a high payment burden or negative home equity that triggered default.Chase also found that underwater borrowers didn’t change their consumption habits whether they received a mortgage principal reduction or not. “There was no difference in the post-modification credit card spending of borrowers who received principal plus payment reduction and borrowers who received only payment reduction relative to their spending 12 months before modification,” said Chase.You can read the full JPMorgan Chase report by clicking here. Share Save Home / Daily Dose / Default Data After the Great Recession Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: David Wharton The Best Markets For Residential Property Investors 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]  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago December 6, 2017 2,435 Views Related Articles in Daily Dose, Featured, Foreclosure, Government, Journal, News Previous: LGBT and Mortgage Leaders Collaborate to Better Diversity and Inclusion Next: Breaking Down Non-Performing Loan Sales Servicers Navigate the Post-Pandemic World 2 days ago default Great Recession GSEs HAMP Housing Bubble JPMorgan Chase mortgage mortgage modification 2017-12-06 David Whartonlast_img read more

The Week Ahead: Eye on U.S. Mortgage Performance Trends

first_imgHome / Daily Dose / The Week Ahead: Eye on U.S. Mortgage Performance Trends The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago December 7, 2018 3,890 Views The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Eye on U.S. Mortgage Performance Trends Subscribe CoreLogic Loan Insights Report report focuses on U.S. mortgage performance trends. The data gathered is based on mortgage performance health, stages of delinquency as well as transition rates from one stage of delinquency to the next. In its previous report, data revealed indicated a fall in overall US mortgage delinquency rate in August to the lowest level in more than 12 years. As of August 2018, the report found foreclosure inventory rate – which measures the share of mortgages in some stage of the foreclosure process – was 0.5 percent, down 0.1 percentage point since August 2017. “With home-price growth building owners’ equity, and the low national unemployment rate providing opportunities for income growth, further declines in U.S. delinquency and foreclosure rates are likely in coming months,” said Frank Nothaft, Chief Economist at CoreLogic.CoreLogic will release its latest Loan Insights Report on Tuesday, 9 a.m. Here’s what else is coming in The Week Ahead:Black Knight Mortgage Monitor, Monday 9 a.m. ESTCarrington Mortgage Webinar, Tuesday, 10 a.m. PTMBA Mortgage Apps, Wednesday, 7 a.m. ESTFreddie Mac Primary Mortgage Monitor, Thursday 8 a.m. ESTFed Balance Sheet, Thursday, 2 p.m. EST Demand Propels Home Prices Upward 2 days ago 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, Headlines, Market Studies, News Share Savecenter_img Black Knight Mortgage Monitor Carrington Mortgage Webinar CoreLogic Fed Balance Sheet Freddie Mac Loan Insights Report MBA Mortgage Apps Mortgage Performance 2018-12-07 Donna Joseph Servicers Navigate the Post-Pandemic World 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 About Author: Donna Joseph Sign up for DS News Daily Tagged with: Black Knight Mortgage Monitor Carrington Mortgage Webinar CoreLogic Fed Balance Sheet Freddie Mac Loan Insights Report MBA Mortgage Apps Mortgage Performance  Print This Post Previous: Strong Seller’s Market Next: After the Dust Settles 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] Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Paying the Price for Housing

first_imgHome / Daily Dose / Paying the Price for Housing March 7, 2019 1,532 Views Homeownership became less affordable across the country in 2018 while renting became marginally more affordable, according to a new report by Zillow. Amid worsening affordability in the U.S., homeowners in Los Angeles and renters in the largest Florida metros have the least cash left over after paying for housing, the report found. On the other hand, people in the Washington, D.C., metro area have the most money left over after they pay their mortgage. Based on the median annual gross income and mortgage payment, homeowners in Washington, D.C., have almost $7,000 of their monthly income remaining after paying for their house—the most out of the 35 largest housing markets. Typical renters in Washington, D.C., have nearly $6,500 left over from their income after their monthly rent payment, second only to San Jose at more than $6,800.”Finding that balance where housing costs leave a comfortable amount of spending money is tricky, especially when the prices of life’s non-housing essentials also vary widely by market,” said Skylar Olsen, Zillow Director of Economic Research.According to the report, the outlook is grim for those in Los Angeles considering California’s substantial income tax rates, which cuts into income left over for variable cost-of-living expenses like transportation, child care, and education. Zillow indicated that overall affordability for home buyers worsened last year due to rising mortgage rates and continued strong home value appreciation throughout most of 2018. At its November peak, the average 30-year fixed rate in the U.S. had increased to 4.94 percent from 3.95 percent at the beginning of the year. Now that the mortgage rates have reversed course declining 4.4 percent, home value appreciation in the nation’s biggest markets is cooling rapidly. This is a signal that mortgage affordability could improve in the coming months, the analysis forecasts. An estimated 17.5 percent of the median income is required for a mortgage payment on the typical home in the U.S. This has recorded an increase up from 15.4 percent in the last quarter of 2017, however, remains below the historic average of 21 percent from the late 1980s and 1990s, the report revealed. Using this traditional measure of housing affordability, less expensive Midwest markets such as Pittsburgh, St. Louis and Cincinnati top the list. Speaking of income spent by renters, Zillow stated that payments accounted for more than 30 percent of the median income in 13 large U.S. metros, widely considered the standard for unaffordable housing costs. Read the full report here. Governmental Measures Target Expanded Access to Affordable Housing 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] Sign up for DS News Daily About Author: Donna Joseph Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Paying the Price for Housing Related Articles Tagged with: Affordability Median Income Mortgage Payment Skylar Olsen Zillow Share Save Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Previous: Mr. Cooper Grows Servicing Portfolio to $548B Next: Fannie Economist Addresses Jobs Report Impact on Housing Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Affordability Median Income Mortgage Payment Skylar Olsen Zillow 2019-03-07 Donna Joseph Subscribe  Print This Post 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Stock Market Rallies as Housing Beats Expectations

first_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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Home / Daily Dose / Stock Market Rallies as Housing Beats Expectations in Daily Dose, Featured, Market Studies, News The S&P 500 hit a record high on Monday, and is up more than 20% year-to-date, completely rebounding from its August crash.The Dow Jones crashed more than 800 points in August, and the 10-year Treasury yield briefly broke the two-year rate for the first time since 2005—an economic marker that has often proved a forerunner of recessions in times past. CNBC reports that there have been five inversions of the 2-year and 10-year yields since 1978. A recession followed each inversion. However, data shows that those recessions began on average 22 months after the initial inversion. The S&P 500 hit a new record of 3,038.62 as of 10:45 a.m. CDT, which is 16% higher than the previous closing. The Dow Jones Industrial Average hit a high of 25,639 when the market crashed on August 14, but rose to 27,072 during its rebound on October 28. President Donald Trump, in response to the rallying stock market, tweeted that this is a “big win for jobs, 401-K’s and, frankly, everyone. Our country is doing great.” In BuildFax’s September Housing Health Report, Jonathan Kanarek, COO, BuildFax noted that the housing market is beating expectations, even with the threat of recession.“Amidst concerns of a recession, it’s promising to see the housing market responding to the impact of mortgage rate decreases and other positive moves in the market,” he added. “If housing continues showing the promise of growth, or even a leveling off, this activity has the potential to stimulate the larger economy.”CNBC states that after hitting a new high on July 26, recession fear led the Augusts’ sell-off. The S&P 500 fell 1.8%, but has since grown by 6% from that August low. Also aiding to the rally is the reported progress being made in trade negotiations between the U.S. and China. “Of the S&P 500 companies that have reported over the last month, just 32 mention recession on their calls,” said Nick Mazing of Sentieo in the CNBC report. Recent economic recovery has slowed talk of a recession, but Duke Professor Campbell Harvey, an expert on the yield curve, warned that the yield curve’s un-inversion in recent week should not be considered a “all clear” sign. A recession may still be on the horizon, he told Business Insider. A negative spread between the three-month and 10-year Treasury yields—known as a yield-curve inversion—has precluded each of the seven economic recessions since 1950. Economic Growth Recession stock markets 2019-10-28 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Industry Impact: HUD to Address FHA Regulation Next: Ellie Mae Acquires Capsilon The Best Markets For Residential Property Investors 2 days ago  Print This Post Tagged with: Economic Growth Recession stock marketscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Stock Market Rallies as Housing Beats Expectations About Author: Mike Albanese The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily October 28, 2019 1,296 Views Subscribelast_img read more

Puerto Rico Disaster Recovery Speeding Up

first_img Related Articles Share Save in Daily Dose, Featured, Loss Mitigation, News Sign up for DS News Daily  Print This Post According to Peter Brown, the White House special representative for Puerto Rico’s disaster recovery, the pace of federally funded projects to help hurricane and earthquake victims has quickened. However, according to Yahoo News, Brown is worried about long term efforts.“The reputation seems to lag the reality. The reality is improving,” Brown said, adding that he will report to President Donald Trump upon his return to the U.S. mainland. “I think he will be convinced that federal money and federal efforts is being spent wisely here.”The Federal Emergency Management Agency (FEMA) and the Central Office for Recovery, Reconstruction, and Resilience announced an additional $63 million in aid will be sent to Puerto Rico.Funds will be used for 56 projects related to the recovery and reconstruction of the island as it works to rebuild following January’s earthquakes and Hurricane Maria.More than $6.2 billion has been approved for Puerto Rico under FEMA’s Public Assistance Program.“FEMA and [Central Office for Recovery and Reconstruction] remain focused on prioritizing obligations of funds to municipalities for eligible expenses related to hurricanes Irma and Maria to help communities recover,” FEMA stated in a release.The Associated Press reported last month that Puerto Rico’s government hopes to relocate all of the families impacted by January’s magnitude 6.4 earthquake that destroyed or damaged nearly 1,700 homes.Ongoing tremors have forced re-inspections of more than 7,000 homes that engineers already visited.“We know we still have a lot of work ahead of us,” Puerto Rico Gov. Wanda Vázquez said. “No one was prepared.”The report states that a total of 4,600 people remain in shelters along Puerto Rico’s southern coast.Vasquez, however, said the majority did not report any damage in their house and were scared to return home due to continuing shakes.Three hundred homes were destroyed and another 1,390 damaged by the quake, according to the Associated Press.According to Brown, it will take years for Puerto Rico to recover from the hurricane and earthquakes.“My main concern is sustainability,” he said. “This is not a one-time injection of money into the economy or infrastructure of Puerto Rico… Continuity is vital.”Alex Amparo, Puerto Rico’s coordinating officer, said $3.8 million has been approved to help affected by the quake.Natural disasters impact investors, service providers, mortgage servicers, government agencies, legal professionals, lenders, property preservation companies, and—most importantly—homeowners.The 2020 Five Star Disaster Preparedness Symposium will include critical conversations on response, reaction, and assistance to ensure the industry is ready to lend the proper support the next time a natural disaster strikes.Register today for the Disaster Preparedness Symposium. Previous: Top Markets for REO ‘Fix-and-Flip’ Buyers Next: The Spread of Zombie Properties Disaster FEMA Puerto Rico 2020-02-26 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Puerto Rico Disaster Recovery Speeding Up 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. Home / Daily Dose / Puerto Rico Disaster Recovery Speeding Up Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago February 26, 2020 1,884 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Tagged with: Disaster FEMA Puerto Rico The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

OCC Addresses Liquidity and Forbearance Issues

first_img Servicers Navigate the Post-Pandemic World 2 days ago Blake Paulson, the new Chief National Bank examiner with the Office of the Comptroller of the Currency (OCC) and senior deputy comptroller for midsize and community bank supervision, recently spoke with Law360 on the OCC’s plan beyond the coronavirus, detailing the steps the agency and banks can take to prepare for the next financial downturn.According to Paulson, one of the most significant priorities of the OCC has been strengthening the Community Reinvestment Act regulation.“We’ve done a tremendous amount of work to first put out an advanced notice of proposed rulemaking to request, which was a series of questions on the CRA and then a proposed rule. Now we’ve gotten all those comments back, and we’re working on drafting the final rule. We expect that, working in conjunction with the FDIC [Federal Deposit Insurance Corporation], we will release a final rule this year.”Paulson also notes that with increased forbearances may come increased risks.“We’re seeing a lot of forbearance activity relative to mortgage loans, auto loans, consumer loans and commercial loans,” Paulson notes. “Banks are providing various types of forbearance, such as loan restructurings.”Beyond the technical and legal requirements, Paulson notes, banks need to assess risk as it’s building in their loan portfolios, accurately risk-rate loans and ensure they have appropriate loan-loss reserves. Those are the primary areas where banks and examiners will be focused as we move into challenging economic times.According to Paulson, the OCC is addressing liquidity in a number of ways.“To start with, we want to understand how the bank views this,” Paulson states. “What’s their analysis? What’s their risk assessment in a stress-type scenario? What have they done to think about how much liquidity they should have on hand?”“We would challenge that analysis and likely come to some type of an agreement for what the bank should have for liquidity and, if the bank agrees to that, we might include what we refer to as a matter requiring attention in the reported examination explaining our concerns, including what the bank committed to do about it and a time frame for that commitment,” he continues. About Author: Seth Welborn in Daily Dose, Featured, Government, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Ginnie Mae Issues $63.81B in MBS Next: More Americans Expect to Miss Mortgage Payments The Best Markets For Residential Property Investors 2 days ago  Print This Post Share Save Comptroller Forbearance OCC 2020-05-12 Seth Welborn Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / OCC Addresses Liquidity and Forbearance Issues May 12, 2020 1,906 Views Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago OCC Addresses Liquidity and Forbearance Issues Demand Propels Home Prices Upward 2 days ago Tagged with: Comptroller Forbearance OCC Subscribelast_img read more

Uncertainty Presents Risk to Mortgage Investors

first_img Tagged with: Bloomberg MBS Risk The uncertainty of the presidential election—however long that lasts—is bound to incite interest rate volatility, something that presents a peril to the mortgage-backed securities (MBS) market, according to Christopher Maloney, a market strategist and former portfolio manager who writes for Bloomberg.In October, volatility surged 76%. Last Friday it closed higher than it has since April 23, and experts say it could keep rising. Morgan Stanley analysts called the election “a 2.5 times vol multiplier,” he noted, adding that, “This may hurt MBS investors, as the chance of a borrower having an incentive to refinance is in part a function of interest rate volatility over the life of the loan. Homeowners refinancing mortgages give money back earlier than expected and at par, which would trigger a loss for those who purchased the securities at a premium.”In October, mortgages recorded a positive excess return of 12%, even though they were on a path halfway through the month to produce a loss.Writes Maloney, “The Federal Reserve’s support of the mortgage sector … undoubtedly played a role in helping it to end the month with a gain.”While the index overall ended with an excess-return gain of 12%, “the Fed’s most favored coupon, the UMBS 30-year 2%, saw an excess return of 38%. Of the central bank’s $113 billion MBS purchases last month, that coupon alone made up 46% of the total,” he wrote.Maloney goes on to explain why the current indecision could impact MBS risk in the period to come.”Despite the Fed’s continued support, this presidential election brings with it more uncertainty than any seen in decades. Investors like uncertainty least of all.”MBS analysts at NOMURA warned on Friday that an interest rate volatility hike, post election, is a key near-term risk, according to Maloney, whose article can be read in full on Bloomberg | Quint. 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. Home / Daily Dose / Uncertainty Presents Risk to Mortgage Investors Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Uncertainty Presents Risk to Mortgage Investors Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily center_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: ‘Shaky’ Economy Hasn’t Slowed Rise in Home Equity Next: Nonprofit Calls on Policymakers to ‘Act Now for Housing’ Servicers Navigate the Post-Pandemic World 2 days ago Bloomberg MBS Risk 2020-11-05 Christina Hughes Babb in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago November 5, 2020 15,376 Views  Print This Post Related Articles Subscribelast_img read more

Loan Application Defects Are Down From 2019

first_img About Author: Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago  Print This Post 2020-12-01 Christina Hughes Babb Loan Application Defects Are Down From 2019 Sign up for DS News Daily in Daily Dose, Featured, News Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago December 1, 2020 939 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Previous: GSEs Release Mortgage Portfolio Updates Next: The CFPB Adds Five to Its Executive Team Share Save The Loan Application Defect Index (LADI) remained steady in October compared with the prior month but remains 10% lower than October 2019; purchase-loan fraud risk increased 1.2% month-over-month, and less risky refinance fraud risk did not change, according to First American Mortgage Solutions’ Loan Application Defect Index, which examines various portions of loan applications for the month of October. The research is updated monthly during the last week of the month.The monthly index estimates the level of defects detected in the information submitted in mortgage loan applications processed by the First American FraudGuard system. The index is based on the frequency with which defect indicators are identified. The data—which delves into whether the information on a loan is correct, misrepresented, or even potentially fraudulent— is useful when assessing the amount of risk on a loan, according to First American’s economists.First American’s Deputy Chief Economist Odeta Kushi offers some insight into this month’s report:Compared with single-family properties, loan applications for multi-unit properties have historically been riskier, she noted. In October, fraud risk only increased for multi-unit and planned unit developments (PUDs) on a month-over-month basis, 1.2% and 1.6%, respectively … Fraud risk for single-family properties remained the same compared with one month ago. The stability in single-family fraud risk is contributing to the steadiness of overall fraud risk, especially as market preferences tilt towards single-family homes,” she said.Kushi added, “More important for fraud risk is the continued sellers’ market, which may pressure homebuyers to misrepresent information on their loan application to win the bid for a home. The winter months should cool the hot sellers’ market, which may relieve pressure on overall fraud risk.”First American’s report includes trends from a national perspective as well as changes by state, market, and category. It can be viewed in its entirety at firstam.com. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Loan Application Defects Are Down From 2019 The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Visiting restrictions extended at Letterkenny General Hospital

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleSwilly Group announces 10 new jobsNext articleCouncil wants action to improve Letterkenny Post Office News Highland Help sought in search for missing 27 year old in Letterkenny Facebook News WhatsApp RELATED ARTICLESMORE FROM AUTHOR Google+ WhatsApp Twitter Visiting restrictions at Letterkenny General Hospital have been extended to all parts of the hospital after the spread of symptoms of vomiting and diarrheoa across a number of wards.Yesterday, the hospital imposed restrictions at Surgical 1 and Medical 3, but visiting is now restricted on all wards with the exception of parents and fathers in Maternity.In cases where people have a family member who is very seriously ill, visiting can be arranged through the ward manager.Deputy Hospital Manager Paddy Rooney has been outlining the latest developments…….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/12/proon.mp3[/podcast] Twittercenter_img By News Highland – December 11, 2012 Google+ Three factors driving Donegal housing market – Robinson Visiting restrictions extended at Letterkenny General Hospital Pinterest Facebook Pinterest Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly last_img read more