DS News Webcast: Monday 9/23/2013

first_imgSign up for DS News Daily  Print This Post Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago DS News Webcast: Monday 9/23/2013 About Author: DSNews September 23, 2013 431 Views Home / Featured / DS News Webcast: Monday 9/23/2013 Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Media, Webcasts 2013-09-23 DSNews Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Home Price Growth Slower in July Next: New Industry Technologies Marry Mobility and Compliance Demand Propels Home Prices Upward 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Share Save Is Rise in Forbearance Volume Cause for Concern? 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 Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Potential Mortgage Default Risk Remains High

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Headlines, Loss Mitigation, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: SIGTARP Offers Recommendations for HAMP Next: Felty and Lembright Welcomes New Hire Home / Daily Dose / Potential Mortgage Default Risk Remains High American Enterprise Institute Debt-to-Income Ratio default National Mortgage Risk Index Risk 2014-05-01 Tory Barringer Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Potential Mortgage Default Risk Remains High The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Despite a slight pullback in March, risk in the mortgage marketplace remains perilously high, say researchers.The American Enterprise Institute’s (AEI) International Center on Housing Risk released this week its latest National Mortgage Risk Index (NMRI), a measure of likely loan default risk rates in the event of another economic crisis. For its March data, the group calculated that under stress, 11.5 percent of recent home purchase mortgages would default, just down from 11.6 percent in February.Even with the decline—the second consecutive drop—potential default rates remain nearly double the 6 percent maximum AEI says is conducive to a stable market, suggesting there’s been no “discernible impact from QM [Qualified Mortgage] regulation,” the group asserts.As AEI points out, while all of the purchase loans covered in its index classify as QM, half have a down payment of 5 percent or less, and nearly one-quarter have total debt-to-income (DTI) ratios exceeding 43 percent. Federally guaranteed loans are exempt from the 43 percent cutoff.“High DTI loans are risky, with a stressed default rate well above that for all loans regardless of DTI,” analysts said.Also troubling is the fact that while the composite index was down over the month, expected default rates among loans held by Fannie Mae and Freddie Mac continued to climb up to 6 percent, while the rate for loans insured by the Federal Housing Administration (FHA) and Rural Housing Services (RHS) inched up to 24.1 percent. Both values represent new highs for each category.Explaining the decline in the headline index, AEI noted the share of high-risk loans decreased again, hovering just above 35 percent, partially due to a fall in FHA loan share.Ahead, the Center on Housing Risk sees no let-up in risk rates, especially as lenders—and some regulators—move to open up credit standards to allow more borrowers in.“In a housing boom, mortgage lending moves out the credit curve,” the group said. “Credit risk is rising as political pressures are again pushing for degrading lending practices.” Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago May 1, 2014 762 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: American Enterprise Institute Debt-to-Income Ratio default National Mortgage Risk Index Risk Subscribelast_img read more

West Coast Cities Dominate When it Comes to Home Values

first_img  Print This Post West Coast Cities Dominate When it Comes to Home Values Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Home Price Inflation Home Prices Home Values Pro Teck Share Save Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / West Coast Cities Dominate When it Comes to Home Values Home Price Inflation Home Prices Home Values Pro Teck 2015-11-25 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The best U.S. cities for watching home price inflation appear to be concentrated along the West Coast, a new report from data services firm Pro Teck says.Pro Teck released its Valuation Services Home Value Forecast (HVF) November update, which revealed that five of the markets featuring exceptionally high real estate values are located in California. Keeping with the West Coast trend, another four are located in Washington state, while one of the inflationary markets is located in Idaho.So where are prices at an all-time high? Pro Teck points to Bellingham, Washington; Portland, Oregon; San Jose, California; and Seattle.Meanwhile, Boise, Idaho, is forecasted to hit a new high by the first quarter of 2017, alongside Mount Vernon, Washington.Other markets dealing with healthy home prices include Modesto, Stockton, Sacramento, and Vallejo, California. Still, these California markets are not expected to reach the bubble-levels reached during the pre-real estate crash over the course of the next five years, Pro Teck says.”The first question people ask is whether there is a bubble on the horizon for any of these communities,” said Tom O’Grady, CEO of Pro Teck Valuation Services. “While there are many factors that can impact a ‘bubble’ one of the most important factors at Home Value Forecast is looking at home affordability via an affordability index.”Pro Teck evaluates bubble levels by studying an area’s median income and evaluating what type of mortgage payment is needed to purchase a median-priced home. Based on these findings, an index score is given and any score above 100 suggests the median income will cover the price of an average home in the area. Lower scores suggest a disparity between home prices and earnings, Pro Teck says.For example, San Jose and Stockton have scores around 70 and 120, respectively. Neither figure is indicative of a market that is too frothy.”San Jose and Stockton are examples of what we see for all of our top ten CBSAs – while home prices are increasing, affordability is at or above historic norms and nowhere near ‘bubble’ territory of 2004-2007,” O’Grady concluded. The Best Markets For Residential Property Investors 2 days agocenter_img Previous: Wells Fargo Relocates 350 Servicing Employees Next: HELOC Balances at Larger Banks Continue Declining Trend Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Kerri Panchuk is an attorney and financial writer with more than a decade of experience covering real estate, default servicing, residential mortgage-backed securities, retail, macroeconomics, and commercial real estate. Panchuk graduated from the Southern Methodist University Dedman School of Law and texas Tech University, Panchuk previously served DSNews.com as online managing editor/producer and webcast anchor. In April, she rejoined the Fiver Star Institute as executive director of member groups, overseeing the development and growth of the National Appraisal Congress and Title and Closing Coalition. Panchuk is a member of the State Bar of Texas. About Author: Kerri Panchuk Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 25, 2015 1,092 Views Subscribelast_img read more

The Industry Pulse

first_imgHome / Daily Dose / The Industry Pulse Company News The Industry Pulse 2018-01-25 David Wharton Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Sign up for DS News Daily ________________________________________________________________________________The U.S. Department of Housing and Urban Development (HUD) has four new top leaders who are taking on key roles in the agency at the start of 2018 and during a critical recovery period following last year’s devastating hurricanes. HUD Secretary Ben Carson administered the oath of office to the following individuals recently confirmed by the U.S. Senate: J. Paul Compton, Jr. to become HUD’s General Counsel; Suzanne Israel Tufts to be Assistant Secretary for the Office of Administration; Leonard Wolfson as Assistant Secretary for Congressional and Intergovernmental Relations; and Irving Dennis to serve as Chief Financial Officer. “Today, our bench got a lot deeper,” said Secretary Carson. “These four outstanding individuals bring substantial experience to HUD at a moment when our Department is being called upon to excel as we support millions of our fellow citizens recovering from Hurricanes Harvey, Irma and Maria.”________________________________________________________________________________Concentrance Consulting Group, Inc., a small minority-owned business founded in 2000, has rolled out a new version of its technology that automates the compliance review process of MBS Issuers who collectively hold over $1 trillion in outstanding issuance. The compliance-as-a-service technology, powered by IntelliMime, ensures step-by-step guide review consistency, and enables real-time government agency management complete with a browser view of each compliance review while in process. The system does all of this in a hosted, cloud-based, data-secure environment consistent with Federal Government requirements. “The technology has a depth to it that is unique,” said Allen Jones, Principal of Concentrance, who went on to say, “IntelliMime takes very complex routines and automates them with reporting, analytics, and dashboards. The system is user friendly and scalable and through workforce optimization can drive down costs and create efficiencies.”________________________________________________________________________________Situs, a provider of strategic business and technology solutions to the real estate industry, announced that it has entered into a definitive agreement to acquire MountainView Financial Solutions, a service provider to the financial services industry. The transaction, which is subject to customary closing conditions, is expected to be completed on or before January 31st. Headquartered in Denver, Colorado, MountainView is a valuation and risk analytics business for the financial services sector. “MountainView is the premier valuation and brokerage platform for Mortgage Servicing Rights (MSRs), hard-to-value securities, and whole loans, and has a well-earned reputation as an elite provider of risk management analytics for financial institutions,” said Steve Powel, CEO of Situs. “Together with our 2017 acquisition of The Collingwood Group, the MountainView transaction expands our set of capabilities and positions Situs as the trusted advisor of choice within the continually evolving housing finance market, and puts Situs at the nexus of real estate and fintech.”________________________________________________________________________________Mortgage Capital Trading, Inc. (MCT), a San Diego, California-based mortgage hedge advisory and secondary marketing software firm, announced that Ian Miller has joined the company as Chief Marketing Officer (CMO). In this newly created position, he is responsible for ensuring that MCT’s marketing strategy effectively supports the company’s business plan and helps drive growth. “We are elated to have been able to recruit Ian to join the MCT team and head the marketing strategy,” said Curtis Richins, President of MCT. “We’ve grown our business considerably over the past several years and had a need to ensure that our brand accurately reflects the robust suite of products, services, and technology we now offer within company divisions. Ian has and will continue to play a key role in making sure MCT maintains a strong reputation in the mortgage industry.” MCT has traditionally been known in the mortgage industry as a pipeline hedge firm but over the years has developed into a fully-integrated provider of capital markets services and software. Miller is charged with developing and executing MCT’s marketing plan and strategic initiatives. Since joining MCT, he has made significant strides in honing the company’s messaging, positioning, branding and creating positive industry awareness for MCT’s value proposition and extensive suite of secondary marketing focused products and services.________________________________________________________________________________In its quest to deliver quality, drive productivity, and create growth for this sector, the Dallas-headquartered DIMONT, one of the country’s leading insurance claims adjusting and collateral loss mitigation services providers for residential mortgage and auto loans, has added several industry experts to its team in recent months, including the most recent addition of Laura MacIntyre as Chief Revenue Officer. In her new role, MacIntyre, a 25-year industry veteran, will oversee key growth areas, including sales and marketing, for DIMONT. As a leader, MacIntyre has led the financial growth and expansion of multiple companies during her illustrious career. “Laura’s track record is exemplary,” said DIMONT President and CEO Denis Brosnan. “She is an innovative and accomplished executive with demonstrated ability to deliver mission critical results. Her contributions will position DIMONT for great success in serving our mortgage and auto clientele.””DIMONT is uniquely positioned to bring disruptive technology to the industry that can help our customers achieve optimization, digitization, efficiency, and increased output at a lower cost. I look forward to showcasing these offerings and demonstrating the great value they bring to the table for our customers,” MacIntyre told DS News. “The culture at DIMONT is absolutely fantastic and I’m excited to work with a group of professionals who are really focused on the customer and on delivering the best service to the industry.” Previous: Massachusetts Appeals Court Clarifies Demand Letter Ruling Next: Hunter Gorog Steps Down From Landmark Network Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Tagged with: Company News The Industry Pulse Demand Propels Home Prices Upward 2 days ago The Industry Pulse Servicers Navigate the Post-Pandemic World 2 days ago January 25, 2018 1,383 Views in Daily Dose, Featured, News About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago tweet Which companies are merging, and what professionals are moving? See some highlights in this update of the housing and mortgage industries. 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

Senate Debates Dodd-Frank Modification Bill

first_img Demand Propels Home Prices Upward 2 days ago March 7, 2018 1,416 Views The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Senate Debates Dodd-Frank Modification Bill Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save About Author: David Wharton  Print This Post Sign up for DS News Daily in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Dodd-Frank Act Economic Growth Regulatory Relief and Consumer Protection Act Regulatory Reform Senate Stress Tests Volcker Rule 2018-03-07 David Wharton Home / Daily Dose / Senate Debates Dodd-Frank Modification Bill Previous: Will Rising Rates Really Impact the Housing Market? Next: Fannie: Consumer Housing Sentiment Weakens Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Dodd-Frank Act Economic Growth Regulatory Relief and Consumer Protection Act Regulatory Reform Senate Stress Tests Volcker Rule Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago On Wednesday, the Senate entered its second day of debate over the Economic Growth, Regulatory Relief, and Consumer Protection Act. The bill enacts modifications to the Dodd-Frank Wall Street Reform and Consumer Protection Act signed into law in 2010 by President Obama. A full Senate vote is expected to happen this week, after which the bill will have to then return to the House of Representatives and pass there as well. This follows the House passing its own regulatory reform bill last week, which the Senate passed over in favor of crafting its own version.The Economic Growth, Regulatory Relief, and Consumer Protection Act enacts numerous reforms and changes regulations pertaining to lenders. One of the primary changes is increasing the threshold for enhanced regulatory standards from $50 billion to $250 billion, a change designed to exempt some smaller and mid-sized banks from regulations that would still apply to the larger banking entities. The affected regulations pertain to capital and liquidity rules, risk management standards, and stress testing requirements, among other things. The bill also exempts banks with less than $10 billion in assets from the Volcker Rule, which limits risky trading by U.S. banks, and dials back restrictions on small and regional banks when it comes to restrictions on mortgage lending.Sen. Elizabeth Warren (D-Massachusetts), who has been a longtime opponent of weakening Dodd-Frank, said, “If we lose the final vote next week, we’ll be paving the way for the next big crash. It’s time for the rest of us to fight back and demand that Washington work for us, not the big bank lobbyists.”The bill does have plenty of Democratic defenders, however, several of whom argue that the reforms could help community banks flourish and help revitalize rural economies. Sen. Heidi Heitkamp (D-North Dakota), a supporter of the legislation, said, “When you don’t respond to these kinds of legitimate concerns from small lenders, there’s a resentment to the overall policy. We tend to throw the baby out with the bathwater with that kind of frustration.”More than a dozen banks sent a letter to Sen. Mike Crapo (R-Idaho) and Sen. Sherrod Brown (D-Ohio) earlier this week, expressing their support for the proposed legislation. “Our banks do not threaten U.S. financial market stability, and we should not be subjected to the same regulatory regime as larger banks with more complex and interconnected business models,” the letter read in part. “Regional and traditional lenders and our communities have been disadvantaged by a regulatory model that lumps us together with the largest, most complex banks.”The Credit Union National Association also sent a letter of support to Senate letters. Their letter read, in part, “We applaud the good faith effort to craft common-sense regulatory reform legislation. S.2155 is the result of months of deliberate bipartisan negotiations and contains several provisions supported by America’s credit unions.”Yana Miles, Senior Legislative Counsel for the Center for Responsible Lending, issued a statement reading, “The financial crisis led to a Great Recession that cost millions of Americans their jobs, homes, and savings. This bill would allow for the return of many of the same reckless financial practices that caused the crash. This bill lifts commonsense safeguards, designed to stop banks from again tanking the economy, while also making it easier for financial companies to sell risky mortgages, discriminate against communities of color, and steer manufactured-home owners into more expensive mortgages. The American public does not want this dangerous bank deregulation. Congress is playing with fire.”last_img read more

What’s Keeping Millennial Renters from Owning a Home?

first_img Tagged with: CoreLogic Demand Home Price Index Home Prices Home Sales Homes HOUSING Housing Markets overvalued Supply August 7, 2018 1,424 Views Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. in Daily Dose, Featured, Market Studies, News Subscribe What’s Keeping Millennial Renters from Owning a Home? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save  Print This Post Demand Propels Home Prices Upward 2 days ago CoreLogic Demand Home Price Index Home Prices Home Sales Homes HOUSING Housing Markets overvalued Supply 2018-08-07 Radhika Ojha About Author: Radhika Ojha Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago 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 Demand Propels Home Prices Upward 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 Previous: Four Direct Ways to Impact Housing Affordability Next: Following Fannie and Freddie Foreclosure Findings The Best Markets For Residential Property Investors 2 days ago Related Articles Home prices continued their upward trajectory in June, taking a toll on affordability and leading to slower sales in some markets, according to the latest CoreLogic Home Price Index (HPI), released Tuesday. This has particularly impacted younger potential homebuyers.Prices rose 0.7 percent over the month in June and were up 6.8 percent from last June, according to the HPI. Home prices rose in all 50 states over the year in June, and double-digit growth was recorded in four states: Nevada (12.6 percent), Washington (12.1 percent), Idaho (11.4 percent), and Utah (10.4 percent). The persistently rising prices over the past few years had CoreLogic’s chief economist Frank Nothaft looking somewhat pessimistically at the housing market.“The rise in home prices and interest rates over the past year have eroded affordability and are beginning to slow existing home sales in some markets,” he said. “Further increases in home prices and mortgage rates over the next year will likely dampen sales and home-price growth,” he added. He pointed out that the struggle is particularly acute for first-time homebuyers. Younger millennial renters under the age of 29 demonstrated a strong affinity for homeownership in a study conducted by CoreLogic in partnership with RTi Research. The under-29 group appears to be more interested in homeownership than older millennials, but they are restricted by down payment costs. Among younger millennials, 63 percent of those who say they are not interested in homeownership cite their inability to afford a home or down payment as the reason for their disinterest. With ever-rising prices, CoreLogic also examined markets to determine which are over- versus undervalued. Among the 100 largest metropolitan areas, 41 percent are overvalued, 24 percent are undervalued, and the remaining 35 percent are “at value,” according to CoreLogic. CoreLogic determines whether a market is over- or undervalued by comparing current home prices to their “long-run, sustainable levels.” Those that are at least 10 percent higher are considered overvalued, while those that are 10 percent lower are considered undervalued. The Nevada metro area housing market experienced a 12.9 percent increase in home prices over the year in June and unsurprisingly, is currently overvalued. However, the San Francisco metro area, where prices rose 11.2 percent over the year in June, is not overvalued. The market is currently “at value,” according to CoreLogic’s assessment. A few other notable overvalued markets are the New York, D.C., Denver, Boston, Los Angeles, Houston, and Miami metros. Looking forward, CoreLogic predicts home prices to grow 5.1 percent between June 2018 and June 2019.Learn more about what a millennial homebuyer is looking for and how lenders and servicers can reach out to this group, at MReport’s Hottest Buyers on the Block: Reaching Millennials webinar presented by Ellie Mae, on August 23. Click below to register for the webinar. Home / Daily Dose / What’s Keeping Millennial Renters from Owning a Home?last_img read more

BSI Financial Secures $140M for Mortgage Servicing Rights

first_imgHome / Daily Dose / BSI Financial Secures $140M for Mortgage Servicing Rights BSI Financial Secures $140M for Mortgage Servicing Rights  Print This Post in Daily Dose, Featured, Journal, News, Servicing, Technology BSI Financial Services, a Texas-based mortgage servicing operations platform, announced that it has partnered with two institutional investors to purchase mortgage servicing rights (MSR).  This capability is funded by a capital raise in excess of $140 million, which was nearly three times the amount targeted. BSI Financial will source, perform due diligence, and service MSR assets acquired in partnership with these investors. Prior to the acquisition, BSI was focused on its loan-processing platform. Gagan Sharma, BSI Financial President and CEO, said, “With our new MSR acquisition capability, we offer our existing subservicing clients, as well as other lenders interested in selling servicing rights, the value of convenience and liquidity.” Lenders that elect to subservice their loans with the company may be able to reap economic benefits, efficiencies, and flexibility. Sharma added, “We now provide a connection to the capital markets in addition to our subservicing and other a la carte services.”Lenders who partner with BSI for servicing and subservicing have the option to either subservice or sell MSRs on either a bulk or flow basis. In return, lenders could possibly see accelerated cash flow and reduced operating risk that can arise when dealing with aggregators.In addition, loans will be boarded on the company’s ASSET360 platform, which uses exception-based processing to identify data anomalies during loan boarding and over the life of the loan and may reduce errors that potentially create compliance risk. In addition, the platform offers lenders real-time visibility into loan status and performance through a secure lender portal.As part of its servicing capability, BSI is also offering investors a loan recapture origination service for their loans. Backed by an AI-driven engine that provides the loan origination team predictive analytics, the company says it can connect to the capital markets in addition to subservicing and additional services. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: David Wharton Subscribe 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 Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago BSI Financial mortgage servicing rights 2019-02-22 David Whartoncenter_img Servicers Navigate the Post-Pandemic World 2 days ago Previous: ALTA Recognizes Title Industry Professionals Next: Rich Barton Returns to Zillow The Best Markets For Residential Property Investors 2 days ago Related Articles 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] Demand Propels Home Prices Upward 2 days ago February 22, 2019 2,577 Views Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: BSI Financial mortgage servicing rights The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Trends, Challenges Facing Property Preservation in 2020

first_img Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Trends, Challenges Facing Property Preservation in 2020 What are some challenges facing the industry today and how can they be overcome?We are not able to change the fact that defaults are down. But we can take advantage of this time to be leaders in innovation. When business slows a bit, we funnel our resources to process improvement. And of course, when your focus is on process improvement, that goes hand-in-hand with your people development and technology. We are confident that when defaults begin to rise, we will be ready with the very best people, processes and technology. We also recognize that many of our vendor partners are being pulled away from the industry to work in the high-demand home building industry. We value our vendor partners, and are very committed to doing everything we can to keep them in property preservation with MCS. We have been working hard to bring innovative technology to our vendor management processes, improving our work order process as well as communication within our vendor network.  What are some of the trends changing the property preservation industry?We have had some catastrophic natural disasters that have taught us as an industry to better prepare. We are now using some amazing technology that allows us to get to work before the natural disaster occurs. When we are better prepared, we are able to service our clients more efficiently and effectively.I think we have all learned that in our industry we have to prepare for the unexpected and plan for the worst-case scenarios so that we are able to respond quickly and appropriately.  The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Trends, Challenges Facing Property Preservation in 2020 December 3, 2019 2,935 Views Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Property Preservation 2019-12-03 Mike Albanese About Author: Mike Albanese Previous: Supreme Court Set to Hear CFPB Constitutionality Case Next: FHFA Updates on Fannie and Freddie NPL Sales Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 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. Related Articles What is the role technology plays in how property preservation is done today?We are definitely facing more requirements and stricter regulations in property preservation. When these challenges arise, we always look for ways to leverage our technology. Our AI initiatives, robotics, and advanced automation make life easier for our vendors and clients. We continue to look for ways to take technology that is available to us as individuals and use it to improve our business communications.  Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save in Daily Dose, Featured, News, Secondary Market Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Property Preservation The Week Ahead: Nearing the Forbearance Exit 2 days ago Caroline Reaves, CEO, Mortgage Contracting Services spoke with DS News about the upcoming challenges, trends, and the role technology plays in property preservation as 2020 draws near. Last month, Reaves participated in the 2019 National Property Preservation Conference in Washington D.C. The event included collaborative discussions about topics including code violations, vendor management, hazard claims, and other challenges and hot topics facing the property preservation sector.”I’m always energized by this conference and what it provides for our MCS team as well as the industry,” Reaves said of the conference. “It’s the one time each year when we all get together and focus solely on property preservation. The MCS team always looks forward to this conference, as it provides an opportunity for open, honest dialogue with our peers in the industry.”Below is more from her interview with DS News.   Print This Post Subscribelast_img read more

Avoiding Foreclosure at All Costs

first_img Share Save About Author: Krista F. Brock Previous: McCalla Raymer Leibert Pierce Expands Into Washington, Oregon, Texas Next: Loan Denial Rates Decline The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: FHA Foreclosure HUD Subscribe  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, News 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. Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Avoiding Foreclosure at All Costs The Best Markets For Residential Property Investors 2 days ago FHA Foreclosure HUD 2020-07-02 Mike Albanese Avoiding Foreclosure at All Costs Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily As policymakers continue to discuss how to react to the current economic disruption, new research aims to highlight lessons from the last major economic crisis. In a series of briefs, Harvard University’s Joint Center for Housing Studies (JCHS) and the Federal Reserve Bank of Boston highlight alleged shortcomings at the Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) during the Great Recession and revisits the potential for principal reductions on FHA-insured loans.The briefs are written from the premise that foreclosures have far-reaching negative impacts, and thus any and all practical steps to avoid foreclosure should be taken.“The literature on foreclosure is unequivocal: foreclosure is detrimental to households, to neighborhoods, and to the municipalities in which the homes are located,” wrote Rachel Bratt, author of the research briefs published this week.Bratt studied the policies of HUD and the FHA leading into and during the Great Recession and offered several areas for the agencies to explore moving forward in order to prevent foreclosures and their negative impacts.She proposes HUD consider the option of principal debt forgiveness, which is currently forbidden at the agency and has been debated in the past for its moral hazard. Bratt said HUD could offer a partial-payment option, in which the department covers a portion of a borrower’s principal.Acknowledging that the FHA’s Mutual Mortgage Insurance (MMIF) is currently sound, Bratt suggests the agency could do more to help borrowers in need.“Going forward, the fund must continue to function in a financially sound manner, but HUD also should be willing to draw on the fund to help homeowners remain in their homes,” she wrote.When borrowers become delinquent, it is common practice for HUD to sell those loans into the private market. Bratt calls on HUD to monitor those private entities to ensure they take appropriate steps in foreclosure prevention.In some areas, Bratt calls for “more consistent and better enforcement” of existing rules and policies at HUD. For example, “the requirement that the lender offer a face-to-face interview to the mortgageor prior to foreclosure, represents a case of lender/servicer noncompliance and HUD enforcement failure,” she wrote.The research is particularly timely as the economy faces another recession and “we will likely soon be facing an increase in loan defaults and foreclosures, as significant numbers of people are unable to make their mortgage payments,” according to the research. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles July 2, 2020 1,244 Views last_img read more

FHA 2020 Report Shows How It Helped Struggling Homeowners

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Cristin Espinosa is a reporter for DS News and MReport. She graduated from Southern Methodist University where she worked as an editor and later as a digital media producer for The Daily Campus. She has a broadcast background as well, serving as a producer for SMU-TV. She wrote for the food section during her fellowship at The Dallas Morning News and has also contributed to Advocate Magazine and The Dallas Observer. The Federal Housing Administration (FHA) released its 2020 annual report today, which covers the financial status of the Mutual Mortgage Insurance (MMI) Fund and its Single Family insurance programs. The 2020 FHA report emphasizes how the government agency helped homeowners who were financially impacted by COVID-19. The report states that “FHA supported the housing market throughout the pandemic by providing liquidity and stability.” It outlines how FHA responded to the pandemic by “implementing a foreclosure and eviction moratorium and offering forbearance and other support” for American homeowners who faced COVID-19-related financial hardships this year.According to the annual report, FHA’s serious delinquent portfolio grew by $117 billion this year as a result of COVID-19 forbearance. Nearly all of this increase happened “soon after borrowers began requesting forbearance subject to the provisions of the CARES Act” at the beginning of May.“While we focused our efforts on helping FHA homeowners impacted by the global pandemic keep their homes, we balanced this with sound risk management to protect taxpayers,” Assistant Secretary for Housing and Federal Housing Commissioner Dana Wade said in a press release. “We also continue to demonstrate that during these times, FHA is open for business.”Although the FHA’s market share decreased from 11.56% in 2019 to 9.61% in 2020, it was indeed open for business as it had active insurance on more than 8.3 million single family forward and reverse mortgages as of September 30, 2020. The FHA’s combined capital ratio for 2020 was 6.10%, a 1.26% increase over 2019’s 4.84% capital ratio. The combined capital ratio includes both the FHA-insured single family forward and reverse mortgage portfolios. The increase in FHA’s combined capital ratio indicates that the MMI Fund remains financially healthy.The report also shows that despite coronavirus-related challenges, FHA served a record number of first-time and minority homebuyers. According to the report, the share of first-time homebuyers using FHA insurance reached a new high of 83.1% of the government agency’s total forward mortgage purchase endorsements in 2020. Additionally, the share of mortgages insured by FHA to minority borrowers reached almost 33% of all FHA forward mortgage insurance endorsements this year“FHA successfully served more of the nation’s first-time homebuyers and maintained its leadership role as the nation’s largest facilitator of affordable mortgage financing for minority borrowers,” HUD Secretary Ben Carson said in the press release.Wade also stated that the FHA, like many key players in the housing market, has adopted new technology this year as COVID-19 has intensified the growing need for technological and digital advancements across the housing industry.“We’ve exceeded expectations by bringing to market FHA Catalyst, a state-of-the-art technology platform that will keep credit flowing to FHA’s core borrowers while providing us with the data and analytics we need to identify and manage risk,” Wade said. Home / Daily Dose / FHA 2020 Report Shows How It Helped Struggling Homeowners The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Remembering FDIC’s First Chief Economist Next: DS5: Preparing for Forbearance Exits  Print This Postcenter_img November 13, 2020 1,265 Views FHA 2020 Report Shows How It Helped Struggling Homeowners Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago 2020-11-13 Cristin Espinosa About Author: Cristin Espinosa Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more