first_img Share Save Jacob Lew U.S. Department of Treasury U.S. Economy Wage Growth 2015-02-09 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News  Print This Post The U.S. Bureau of Labor Statistics (BLS) reported last week that average hourly earnings increased by 12 cents from December to January ($24.63 to $24.75), but U.S. Department of Treasury Secretary Jacob Lew said on Monday more wage growth is needed.Lew told CNBC on Monday that even though the economy has experienced sustainable job growth – a higher-than-expected 257,000 jobs were added in January and a monthly average of 336,000 jobs created for the last three months, according to BLS – better wage growth is needed for the nation’s economy to return to normal.”Over the last year, we’ve seen average wages going up, a little over 2 percent,” Lew said in the interview. “We need more wage growth than that for people to really feel it, but it’s something to be that’s starting to be something that’s a trend in the right direction. I think we’ve got to do everything we can to help drive that trend forward.”According to analysts, such wage growth may be on the horizon for the coming year. The 12-cent increase reported by BLS correlates with the findings of Fannie Mae’s January National Housing Survey released on Monday, which indicated that 29 percent of Americans said their household income is “significantly higher” than a year ago and that 48 percent surveyed expect to see their finances improve in the coming year.”A 0.5 percent jump in average hourly earnings was a welcome signal to American workers that recent months of robust hiring may finally lead to a much needed rising trend in wage gains,” Fannie Mae chief economist Doug Duncan said. “Together, our survey results and (the BLS) jobs report strengthens our expectation that stronger hiring and firming income growth will be the primary catalysts for a faster pace of housing recovery in 2015.”Analysts agree that higher wage growth is necessary for the nation’s economy – and hence the housing market – to fully recover from the bust of 2008, due to the fact that wage growth is needed to keep up with rising home prices.”Overall, affordability for buyers in most markets will be well maintained in the context of strong job and income growth,” CoreLogic chief economist Frank Nothaft said late January.The final January gauge of the University of Michigan/Thomson Reuters consumer sentiment index turned in its highest reading in 11 years (98.1) largely due to an increase in personal finances – four out of 10 surveyed cited finance gains as the reason for the increased level of confidence, particularly among households with an annual income of $75,000 or less. While that survey estimated an annualized growth rate in hourly earnings of only 1.9 percent, Friday’s 12-cent gain represented an annualized growth rate ahead of that pace at 2.2 percent.”Consumers have now turned to wages rather than jobs as the primary characteristic they used to judge the performance of the economy,” Richard Curtin, chief economist for Surveys of Consumers.”It is time to say that we’ve turned a corner and we’re now in an economy that’s growing,” Lew said. “It has sustainable growth. It’s growth that showing up not just in businesses but in jobs and we’re now seeing wages go up a bit. I think this is a trend that needs to continue. We need to make sure that we do what we can to continue the growth. I think we’re getting some benefit now from lower oil prices in terms of the economy getting a boost on top of that, so I’m feeling pretty confident that we’re looking at a good period ahead.” About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago Tagged with: Jacob Lew U.S. Department of Treasury U.S. Economy Wage Growth The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily 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. Subscribe Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / Treasury Secretary Lew Says More Wage Growth is Needed The Best Markets For Residential Property Investors 2 days ago Treasury Secretary Lew Says More Wage Growth is Needed Servicers Navigate the Post-Pandemic World 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 February 9, 2015 878 Views Previous: HUD Secretary Castro to Testify Before House Financial Services Committee on February 11 Next: Fed, OCC Announce Public Meeting for Proposed M&A Transaction Related Articles Governmental Measures Target Expanded Access to Affordable Housing 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 agolast_img read more


first_img Collateral File Audit and Remediation Florida Nationwide Title Clearing 2015-06-16 Brian Honea Previous: Trulia Hires New Chief Economist Next: Number of Properties With Equity Is Rising While Total of Underwater Homes Declines 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 Is Rise in Forbearance Volume Cause for Concern? 2 days ago June 16, 2015 826 Views The Best Markets For Residential Property Investors 2 days ago Share Save Tagged with: Collateral File Audit and Remediation Florida Nationwide Title Clearing The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Home / Featured / Nationwide Title Clearing Now Offers Collateral File Audit and Remediation Service The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honea Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Nationwide Title Clearing Now Offers Collateral File Audit and Remediation Service Florida-based research and document processing company Nationwide Title Clearing (NTC) is now offering a complete collateral file audit and remediation service, according to an announcement from NTC.Collateral files are audited by a team of professionals who use NTC’s document and research retrieval methods to bring the files up to a transferable standard and cure any exceptions. The collateral file audit and remediation service is customizable and can be tailored to specific portfolios, investors, and objectives, according to NTC.”The value of a mortgage-based loan portfolio is directly impacted by the completeness and accuracy-or lack thereof-of the collateral files of the loans of which it is comprised,” NTC CEO John Hillman said. “In some portfolios we have audited, we have found errors in 40 percent to 60 percent of the loans. Remediating the exceptions in these loans increases the value of the entire portfolio, and enables the owner of the portfolio to make more money with each sale.”NTC reports that the principal benefits of the collateral file audit and remediation service are complete file management under one servicer, which includes shipping, storage, remediation, assignments, property reports, exception management, and reporting; a reduced amount of money wasted from buybacks and/or reintegration into servicing departments; more certainty about representations and warranties from buyers; and the value of the assets presented for sale would be increased.For most NTC clients, the collateral file audit and remediation service represents and investment with an immediate payback; therefore, interest in the service is high, according to NTC.The collateral file audit and remediation service of NTC includes file intake, inventory, imaging, and indexing; complete collateral file creation; a fully customizable audit to the client’s specifications, curative and remedial actions for any exceptions, and complete file management. The service also offers a variety of property reports that are customizable to indicate lien position, broken assignment chains, the current beneficiary, or the current owner of the property. in Featured, News, Technology Sign up for DS News Daily Subscribelast_img read more


first_imgSign up for DS News Daily  Print This Post Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Fannie Mae Gross Mortgage Portfolio Single-Family Serious Delinquency Rate Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Secondary Market While Fannie Mae’s Book of Business dropped slightly at a compound annualized rate of 1.3 percent in July, the GSE’s gross mortgage portfolio declined at a rate of 16 percent, marking the fourth month in a row ninth time in 12 months the portfolio declined at a double-digit annualized rate, according to Fannie Mae’s July 2015 Monthly Volume Summary released Monday.Fannie Mae’s gross mortgage portfolio has contracted at an average annualized rate of 11.6 percent for the first seven months of 2015 after contacting at an annualized rate of 15.8 percent for the entire year of 2014.July’s contraction at a rate of 16 percent dropped the value of Fannie Mae’s gross mortgage portfolio by nearly $6 billion down to $384.6 billion. The gross mortgage portfolio for Fannie Mae has expanded only three times in the last 61 months dating back to June 2010 (March 2015, January 2015, and December 2012). The value of the portfolio has declined by more than half since June 2010, from $818 billion that month down to $384.6 billion in July 2015. It has declined about than $27 billion just since March 2015, when its value was $411.7 billion.The value of Fannie Mae’s Book of Business dropped from $3.110 trillion in June down to $3.106 trillion in July with the annualized rate contraction of 1.3 percent. The Book of Business, which includes the gross mortgage portfolio plus the total Fannie Mae mortgage-backed securities and other guarantees less the Fannie Mae mortgage-backed securities in the portfolio, contracted at an average compound annualized rate of 0.09 percent this year. It has contracted in six of the first seven months of 2015.The serious delinquency rate on single-family mortgage loans backed by Fannie Mae dropped another three basis points down to 1.63 percent in July and is now well below its pre-crisis level, as well as less than half of the national serious delinquency rate of 3.5 percent for June reported by CoreLogic. For Fannie Mae, the single-family serious delinquency rate has declined every quarter since Q1 2010.The total value of Fannie Mae’s mortgage-backed securities and other guarantees for July was $2.813 trillion, a slight increase from June’s total of $2.812 trillion.The number of loan modifications completed by Fannie Mae was down slightly, from 8,356 in June down to 7,890 in July. Year-to-date as of the end of July, Fannie Mae has completed 60,804 loan mods, an average of 8,686 per month. Fannie Mae completed an average of 10,235 loan mods per month for the full year of 2014. Home / Daily Dose / Fannie Mae’s Mortgage Portfolio and Serious Delinquency Rates Drop Yet Again August 31, 2015 1,608 Views Fannie Mae’s Mortgage Portfolio and Serious Delinquency Rates Drop Yet Again Fannie Mae Gross Mortgage Portfolio Single-Family Serious Delinquency Rate 2015-08-31 Brian Honea The Best Markets For Residential Property Investors 2 days agocenter_img Related Articles About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe 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. The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Reliable Housing Market Forecasts Need Both Statistics and Human Judgment Next: Delinquency Rates Remain Low Across SFR Securitizations Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Savelast_img read more


first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Ed Delgado and Dr. Benjamin S. Carson on stage at last year’s Five Star Government Forum.Leaders from various government agencies and the mortgage service industry will come together on Tuesday at the 10th Annual Five Star Government Forum (FSGF) at the Newseum in Washington, D.C.The FSGF brings together officials making critical decisions on the direction of the housing economy, as representatives of the mortgage industry ensure that sensible regulations are in place to protect the industry and the customers that it serves.Speakers for this year’s forum include:Dr. Benjamin S. Carson, Secretary, U.S. Department of Housing and Urban Development (HUD)The Hon. Brian D. Montgomery, Acting Deputy Secretary and Assistant Secretary for Housing-Federal Housing Commissioner, HUDDanielle Johnson-Kutch, Director, Office of Financial Stability, U.S. Department of the TreasuryMark McArdle, Assistant Director, Mortgage Markets, Consumer Financial Protection BureauMark Palim, VP and Deputy Chief Economist, Fannie MaeLeslie Meaux Pordzik, Acting SVP, Office of Issuer and Portfolio Management, Ginnie MaeSandra Thompson, Deputy Director, Division of Housing Mission and Goals, Federal Housing Finance Agency“The Five Star Government Forum is an important platform for government officials and industry stakeholders to engage in open communication to foster a collaborative working relationship to ensure progress towards a stronger, sustainable housing market,” said Ed Delgado, President and CEO of Five Star Global. “We look forward to hosting Secretary Carson and many other industry leaders at this year’s gathering.”Dr. Carson will deliver the morning keynote, with Montgomery delivering a keynote address later in the afternoon. This year’s agenda features planned discussions surrounding common-sense policy reforms, the state of the industry, policy and regulation updates, risk mitigation and more.Here’s what else is in store in the week ahead:NAR Existing Home Sales, Monday, 10 a.m. ESTCensus Bureau New Home Sales, Tuesday, 10 a.m. ESTCensus Bureau Q1 Housing Vacancies, Thursday, 10 a.m. ESTUMich Consumer Sentiment Index, Friday, 10 a.m. EST The Best Markets For Residential Property Investors 2 days ago About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2019 Five Star Government Forum Existing Home Sales Housing Market HUD 2019-04-19 Mike Albanese Share Save Tagged with: 2019 Five Star Government Forum Existing Home Sales Housing Market HUD Previous: Florida Court Re-Examines Foreclosure Attorney’s Fees Case Next: Bill Neville Appointed as LoanLogics CEO Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago April 19, 2019 1,053 Views Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Carson, Insiders to Discuss Housing Economy  Print This Post Home / Daily Dose / The Week Ahead: Carson, Insiders to Discuss Housing Economy The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government 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 Subscribelast_img read more


first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Harvard: Affordability and Homeownership Back on Track Servicers Navigate the Post-Pandemic World 2 days ago Share Save in Daily Dose, Featured, Market Studies, News Household growth has returned to a normal pace, according to the State of the Nation’s Housing report from the Joint Center for Housing Studies of Harvard University. The study found that the economy is “finally back on track” after the weak household growth and sluggish construction recovery following the Recession.Household growth picked up to 1.2 million a year in 2016–2018, but new construction was still depressed relative to demand, with additions to supply just keeping pace with the number of new households. Homeownership is picking up as well, as the the US homeownership rate edged up in both 2017 and 2018, to 64.4%. According to the study, this translates into a 1.6 million jump in the number of homeownersNationally, affordability has picked up, but depending on the market, some potential homeowners may find that the price-to-income ratio is near peak levels. Price-to-income ratios are highest on the West Coast, where many metroes experience DTIs of 6.0 or higher.  Additionally, a rise in interest rates and home prices plus a tightening of credit, on top of the limited supply of entry-level housing, could put homeownership out of reach for many more households. The rental market, meanwhile, is on solid footing. According to the study, all rents rose at a 3.6% annual rate in early 2019, or twice the pace of overall inflation. Most of the declines were at the single-family rental level, and Harvard’s study notes that  even if homeownership rates continue to increase, low vacancy rates and shifts in the existing stock are likely to prevent a significant softening of rental markets.“In fact, weaker overall rental demand could help to ease conditions at the low end,” the study says. “With most new construction targeting the high end of the market, there has been some potential for excess supply to filter down to lower rent levels.” Home / Daily Dose / Harvard: Affordability and Homeownership Back on Track Affordability Economy HOUSING 2019-06-26 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Counsel’s Corner: Trends and Challenges in Bankruptcy Next: Stanford University Offers $3.4B to Affordable Housing  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Subscribecenter_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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago June 26, 2019 1,010 Views Related Articles 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 Tagged with: Affordability Economy HOUSING The Best Markets For Residential Property Investors 2 days agolast_img read more


first_img Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: SFR Investment Poised for Growth Next: Leading Dems Seeking Funds for Servicers April 17, 2020 3,476 Views Wells Fargo is on the brink of settling a lawsuit alleging a computer error led the bank to deny loan modifications to some homeowners who later lost their homes to foreclosure. An $18.5 million settlement is awaiting final approval from a district judge, who said Thursday he intends to approve the settlement on a preliminary basis after reviewing the notice to the class action case members, according to Law360.The plaintiffs in the case allege a miscalculation that persisted between 2010 and 2018 led to some homeowners being denied home loan modifications they would otherwise have been approved for.Wells Fargo became aware of the error in 2013 and partially fixed the problem in 2015 before enacting a “comprehensive fix” in 2018, Law360 reported. The bank sent apology letters and compensation ranging between $5,000 and $15,000 to some affected homeowners.The settlement now under review addresses a class action case filed in 2018 involving 511 homeowners whose homes were allegedly foreclosed due to the error.Each of the 511 homeowners will receive between $14,000 and $120,000 if the settlement is approved. The amount will vary based on each individual’s unpaid principal balance, the duration of their loan delinquency, and how much they have already received from Wells Fargo in compensation.Included in the $18.5 million is $1 million earmarked for homeowners who suffered “severe emotional distress” directly related to the erroneous foreclosure. These funds will be available to “only members of the class who can tie their distress to Wells Fargo’s conduct,” according to Law360, which added that any unused funds from this $1 million will be dispersed to all the homeowners involved in the case.District Judge William Alsup will review the proposed notice to the plaintiffs before deciding on a final approval and also sought assurance that this settlement will not impede any other borrowers from bringing similar claims of their own against Wells Fargo.Tom Goyda, a spokesperson for Wells Fargo, told Law360 Thursday, “It is important to note that we have prevailed on all of these lawsuits that have reached a final decision and have not paid any money directly to a suing city/county or to any private lawyers.” Tagged with: Foreclosure Settlement Wells Fargo Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Foreclosure Settlement Wells Fargo 2020-04-17 Seth Welborn The Best Markets For Residential Property Investors 2 days ago Share Save Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Wells Fargo Nears $18.5M Foreclosure Settlement The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Foreclosure, News Home / Daily Dose / Wells Fargo Nears $18.5M Foreclosure Settlement 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. About Author: Krista F. Brocklast_img read more


first_img Related Articles  Print This Post April 16, 2020 1,493 Views in Daily Dose, Featured, Investment, Market Studies, News Subscribe Share Save Coronavirus COVID-19 Income 2020-04-16 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily About Author: Krista F. Brock 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 Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Homeowners Are Running Out of Savings Previous: Former Freddie Mac CEO Proposes Non-Bank Servicer Assistance Next: LERETA Provides Daily Agency Updates of COVID-19 Effects on Industry Home / Daily Dose / Homeowners Are Running Out of Savings Tagged with: Coronavirus COVID-19 Income While Americans overwhelmingly support the idea of social distancing to slow the spread of COVID-19, the economic impacts of the pandemic and measures to decelerate it have been widespread and immediate. Americans are already feeling the financial burden, and the housing market is far from immune.The first state-mandated limits on social gatherings went into effect in mid-March, and many states have enacted various forms of stay-at-home and shelter-in-place mandates since.Unemployment skyrocketed to 4.4% over the month of March, and 45% of Americans who were employed prior to the pandemic are now either unemployed or are working fewer hours, according to a survey conducted by Clever Real Estate, a free online service connecting consumers with real estate agents.Half of Americans say any savings they had will be depleted by the end of this month, according to Clever Real Estate. The survey was conducted March 31, meaning just two weeks after the very first state mandates went into place, Americans were already seeing their savings depleted.About 30% of homeowners reported having less than $1,000 in emergency savings before the pandemic, and 22% say they don’t have enough in savings to cover even one month of their mortgage payment. As a result, 27% say they are concerned about defaulting on their mortgage loan.However, things are even grimmer among renters. Half of renters said they have already run out of savings or they never had any to begin with, and 25% lost their income due to COVID-19.About 46% of renters said they had less than $500 in emergency savings prior to the pandemic, and 45% say they don’t have enough savings to cover just one month of rent.The federal stimulus plan, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, will help hold over some struggling Americans. Many will receive stimulus funds, and people with mortgages backed by the federal government are eligible for forbearance on their monthly payments. Of course, people with mortgages that are not backed by the government are not covered by the act, but some lenders may offer their own forbearance plans.So far, 16% of homeowners have worked out forbearance or lower monthly payments with their lenders. However, another 12% are behind on payments but without any approved forbearance from their lender.The CARES Act also protects renters from evictions and payment penalties for 60 days, but this only applies to properties that are federally financed. Some local governments may have their own mandates that apply to all renters, not just those living in federally-financed properties.With immediate financial implications for many Americans and an uncertain road ahead for the overall economy, the housing market too is already feeling the impacts of the COVID-19 pandemic.The pandemic has impacted 85% of homeowners who had previous plans to sell their homes. Close to one-fourth have taken their homes off the market, and slightly more than one-fourth are dropping their listing price. Another 31% of homeowners who had plans to sell but had not yet listed their homes say they are holding off on listing their home for now.Homebuyers are also changing plans amid the current conditions. Close to half of prospective buyers say they are delaying their home search, while 7% say they have stopped shopping altogether.However, 28% say they are continuing their home search but will look for a lower price than originally planned.“Considering 27% of sellers said they’ve already dropped the listing price of their home, buyers willing to continue searching for homes might be able to get more for their money,” said Francesca Ortegren, data scientist for Clever Real Estate.While not all Americans support widespread stay-at-home orders, 96% support social distancing, and 73% say slowing the spread of the coronavirus should be a higher priority than the economy right now.Three-quarters of Americans believe the full effects of the pandemic will be worse than the Great Recession of 2008. Servicers Navigate the Post-Pandemic World 2 days agolast_img read more


first_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Forbearance Plan Removals Could Increase in January Home / Daily Dose / Forbearance Plan Removals Could Increase in January 2021-01-04 Christina Hughes Babb Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe 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. Sign up for DS News Daily About Author: Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Previous: FHFA Requests Input on Appraisal Policy Modernization Next: Eliminating ‘Redundancy and Inconsistency’ in Nonbank Regulation Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago January 4, 2021 1,370 Views Share Save As of December 29, 2.83 million (5.3% of) homeowners remain in COVID-19-related forbearance plans, according to Black Knight’s McDash Flash Forbearance Tracker.Mortgages in forbearance programs increased for a third consecutive week. Loans in active forbearance are up by 15,000 for the week ending December 29 from the previous week. This latest report from Black Knight showed the highest level of forbearance plans overall since early November.Broken down by type of loan, FHA and VA forbearances increased by 11,000 from the prior week. Portfolio and PLS forbearance plans increased by 4,000. Fannie Mae and Freddie Mac (GSE) plan numbers did not change during the last reported week.Numbers as of December 29:3.5% (964,000) of GSE mortgages9.6% (1.16 million) of FHA/VA loans5.4% (700,000) of portfolio-held and privately securitized loansThe main cause of the week’s elevated numbers, according to Black Knight, is limited forbearance plan removal activity, with removals dropping to their lowest levels since the start of the COVID-19 pandemic. Low removal numbers ostensibly are due, at least in part, to the holidays, the researchers noted.Conversely, the week also included fewer entrances into forbearance plans.”On a bright note, forbearance plan starts also hit their lowest level since the start of the pandemic, a number also likely impacted by the holidays. Start volumes have now fallen in each of the last three weeks,” wrote Black Knight blogger Andy Walden.Despite the consecutive weekly increases in overall forbearance activity, the number of active forbearance plans is up just 13,000 from this time last month.”With nearly 270,000 forbearance plans still set to expire at the end of December, it’s possible that we could see an inflow of forbearance plan removals over the first week of January,” the researcher noted.Here is a look at the rate of forbearance activity since the March 2020 onset of the national health crisis:last_img read more


first_img Three factors driving Donegal housing market – Robinson Twitter By News Highland – May 14, 2011 Facebook Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Pinterest Police have said a 36-year-old woman arrested by detectives investigating the murder of PSNI officer Ronan Kerr has been released unconditionally.She was held in the Pomeroy area on Tuesday.25-year-old Constable Kerr, was killed when a bomb exploded underneath his car outside his Omagh home last month. Pinterest Calls for maternity restrictions to be lifted at LUH center_img News WhatsApp RELATED ARTICLESMORE FROM AUTHOR Almost 10,000 appointments cancelled in Saolta Hospital Group this week Twitter WhatsApp Guidelines for reopening of hospitality sector published Previous articleLocal coroner questions new drink-driving proposalsNext articleMayor of Donegal says Queens visit is premature News Highland 36-year-old woman released in Kerr murder investigation Facebooklast_img read more


first_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Donegal windfarm campaigners in Brussels for EU commission briefings Three factors driving Donegal housing market – Robinson Facebook Guidelines for reopening of hospitality sector published Twitter News WhatsApp Marian Harkin MEPRepresentatives of the Glenties Windfarm Information Group are among a group of activists travelling to Brussels today for meetings with senior EU Commission officials.The Brussels visit has been organised by Independent MEP Marian Harkin, who says the visitors will be briefed on relevant EU policies.She says windfarms have a role in Ireland’s future energy mix but there are real concerns that the interests of communities are not receiving due attention by developers……..[podcast]http://www.highlandradio.com/wp-content/uploads/2013/11/mharkwindfarmdelegation.mp3[/podcast] WhatsApp Pinterest Google+center_img Facebook Calls for maternity restrictions to be lifted at LUH Previous articleGary Doherty selected to replace Cora Harvey on Donegal County CouncilNext articleMayor concedes Letterkenny Town Council will not be saved News Highland LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – November 4, 2013 Twitter RELATED ARTICLESMORE FROM AUTHOR Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Google+ Pinterestlast_img read more