first_imgSubscribe Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Share Save The Best Markets For Residential Property Investors 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. in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily  Print This Post Home / Daily Dose / Mississippi Leads in Both Non-Current, Serious Delinquent Mortgage Rates in November Data Provider Black Knight to Acquire Top of Mind 2 days ago Black Knight Financial Services Mississippi Non-Current Mortgages Serious Delinquent Mortgages 2015-01-06 Brian Honea Related Articlescenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago January 6, 2015 1,070 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: DS News Webcast: Wednesday 1/7/2015 Next: Ellie Mae Promotes Corr to CEO Mississippi was the state with the highest percentage of non-current mortgages and serious delinquent mortgages in November, according to data released recently as part of Black Knight Financial Services’ November 2014 “First Look” at mortgage data.In November, 14.88 percent of all mortgages in Mississippi were non-current (30 days or more past due but not in foreclosure), compared to the national average of 6.08 percent. The national average for November represented an 11.82 percent increase from October’s non-current mortgage rate (the rate declined by 5.69 percent year-over-year in November). Mississippi’s November non-current mortgage rate of 14.88 percent was a 3.15 percent decrease from November 2013 and was still way below the Magnolia State’s peak of 22.85 percent, attained in October 2005. Earlier that year, in March 2005, Mississippi’s non-current mortgage rate fell to its all-time low of 9.60 percent.The state with the second-highest non-current mortgage rate in November was New Jersey at 12.41 percent, followed by Louisiana (11.87 percent), New York (10.97 percent), and Rhode Island (10.78 percent). The state with the lowest non-current mortgage rate for the month was North Dakota.Mississippi also had the nation’s highest serious delinquency rate (90 days or more overdue or in foreclosure) for the month of November with 5.39 percent of mortgages in the state in serious delinquency. This percentage represented a 0.6 percent year-over-year increase, but was still well below Mississippi’s serious delinquency rate peak of 9.9 percent in December 2005. The state’s low for serious delinquency rate was 2.74 percent, achieved in March 2005.The second-highest serious delinquency rate was for November was in Rhode Island (3.80 percent), followed by Louisiana (3.68 percent), Alabama (3.66 percent), and Arkansas (3.34 percent). Tagged with: Black Knight Financial Services Mississippi Non-Current Mortgages Serious Delinquent Mortgages Servicers Navigate the Post-Pandemic World 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 Mississippi Leads in Both Non-Current, Serious Delinquent Mortgage Rates in Novemberlast_img read more

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Community Reinvestment Act Financial Institutions OCC 2015-01-26 Brian Honea Previous: Existing-Home Sales Expected to Inch Upward in January Next: DS News Webcast: Tuesday 1/27/2015 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 The Office of the Comptroller of the Currency (OCC) released its list of Community Reinvestment Act (CRA) performance evaluations that were made public during the month of December 2014 for 30 financial institutions.The 30 financial institutions that received ratings from the OCC that became public during December were national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The four possible ratings were outstanding, satisfactory, needs to improve, and substantial noncompliance, according to the OCC.Two of the 30 financial institutions that were rated received a rating of outstanding: Van Wert Federal Savings Bank, a small bank in Van Wert, Ohio; and Icon Bank of Texas, National Association, an intermediate small bank located in Houston, Texas. Twenty-eight of the financial institutions evaluated received a rating of satisfactory. None of the institutions received ratings of needs to improve or substantial non-compliance.A searchable list of all public CRA evaluations can be found on the OCC’s web site. The CRA was first enacted by Congress in 1977 and revised in both 1995 and 2005. The purpose of the CRA is to “encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods, consistent with safe and sound operations,” according to the U.S. Federal Reserve Board web site. Home / Daily Dose / OCC Releases Performance Evaluations for 30 Financial Institutions; Two Rated ‘Outstanding’  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Tagged with: Community Reinvestment Act Financial Institutions OCCcenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago January 26, 2015 837 Views in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago OCC Releases Performance Evaluations for 30 Financial Institutions; Two Rated ‘Outstanding’ Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

first_img The Best Markets For Residential Property Investors 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 Former Fannie Mae CEO Claims SEC Failed to Prove Accusations of Subprime Lending Fraud Sign up for DS News Daily  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 23, 2015 1,063 Views Tagged with: Fannie Mae SEC Subprime Lending Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Former Fannie Mae CEO Claims SEC Failed to Prove Accusations of Subprime Lending Fraudcenter_img Fannie Mae SEC Subprime Lending 2015-03-23 Brian Honea About Author: Brian Honea in Daily Dose, Featured, Government, News Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Former Fannie Mae CEO Daniel Mudd told a judge that he did not believe the U.S. Securities and Exchange Commission (SEC) had proven its claims that the government-sponsored enterprise was guilty of fraud in regards to its subprime mortgage portfolio in the run-up to the financial crisis, according to media reports.Mudd, the CEO of Fannie Mae during the years leading up to the housing crash (2005 to 2008), and former Fannie Mae executives Enrico Dallavecchia (chief risk officer) and Thomas A. Lund (EVP), requested that Judge Paul Crotty in the U.S. District Court of the Southern District of New York grant them summary judgment on the grounds that the SEC had not shown evidence that the GSE misled or made false statements to investors about its subprime portfolio.The SEC sued the Fannie Mae executives in December 2011, claiming that they attempted to shield from investors the amount of subprime and high risk mortgage loans held by the Agency by omitting two types of loans known as Expanded Approval and MyCommunityLoans from financial statements.”Fannie Mae and Freddie Mac executives told the world that their subprime exposure was substantially smaller than it really was,” said Robert Khuzami, Director of the SEC’s Enforcement Division, at the time the lawsuit was filed. “These material misstatements occurred during a time of acute investor interest in financial institutions’ exposure to subprime loans, and misled the market about the amount of risk on the company’s books. All individuals, regardless of their rank or position, will be held accountable for perpetuating half-truths or misrepresentations about matters materially important to the interest of our country’s investors.”The executives responded by saying that Expanded Approval and MyCommunityLoans, which were intended for borrowers with weaker credit, were excluded from the financial statements because they did not qualify as subprime loans under Fannie Mae’s own qualification guidelines, according to reports. The defendants contend that investors had access to the Fannie Mae guidelines that define a subprime loan, and that a reasonable investor could have used that information to make informed judgments as to the Agency’s involvement in subprime loans or any other type of mortgage loan.According to reports, the SEC’s complaint alleged that a Fannie Mae 2007 public filing said that the extent of Agency’s involvement in single-family subprime mortgage loans amounted to $4.8 billion; however, the Agency held more than $57 billion worth of Expanded Approval and MyCommunityMortgage loans. In February 2008, which was seven months before Fannie Mae and Freddie Mac were taken into conservatorship by the Federal Housing Finance Agnecy, Fannie Mae reportedly had $90 billion worth of loans on the books but claimed only a small percentage of that was subprime loans. Crotty rejected a motion by the defendants in 2012 to have the SEC lawsuit dismissed; at that time, the judge called it “misleading” to not count Expanded Approval and MyCommunityMortgage Loans as subprime loans. Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: DS News Webcast: Tuesday 3/24/2015 Next: Schneiderman & Sherman Adds Three New Attorneys and Foreclosure Manager 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. last_img read more

first_imgHome / Daily Dose / July 2017: How Freddie Fared July 2017: How Freddie Fared Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Diversity: Influencing the Mortgage Industry Next: Yellen: There’s Still More Work to Do  Print This Post The Best Markets For Residential Property Investors 2 days ago Subscribe Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Freddie Mac The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Share Save Demand Propels Home Prices Upward 2 days ago About Author: Brianna Gilpin Freddie Mac released its July 2017 Monthly Volume Summary with a portfolio volume of $2.043 trillion up from June’s $2,04 trillion, a jump of 1.8 percent. Year to date, Freddie’s portfolio has increased at an annualized rate of 2.8 percent.Single-family refinance-loan purchase and guarantee volume represented 32 percent of all single-family mortgage portfolio purchases and issuances, according to the report, a volume of $8.8 billion in July. Refinances represented 68 percent of all single-family purchases.Serious delinquency rates for the single-family market, which is based on the number of mortgage loans that are three monthly payments or more past due or in the process of foreclosure, remained flat at 0.85 percent in July, with all categories (non-credit enhanced, primary mortgage insurance, and other) also without significant or any change.In July, aggregate unpaid principal balance (UPB) of Freddie’s mortgage-related investments portfolio decreased by about $6.9 billion while the GSE’s mortgage related securities and other mortgage-related guarantees increased by 4.0 percent at an annualized rate.According to the report, the measure of Freddie’s exposure to changes in portfolio market value (PMVS-L) averaged $43 million with a duration gap that averaged 0 months.Freddie’s mortgage investments portfolio, which has a $250 billion goal, had an ending balance of $277 billion in July. Mortgage funding sat at $33 billion in July and $233 billion year to date.Earlier in the month, when talking about their report on Q2 2017’s results, Freddie Mac CEO Donald H. Layton said, “We at Freddie Mac are proud of the work we’re doing and proud of the success we’re having in making home possible for millions of Americans and in building a better housing finance system.”To read the full report, click here. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac 2017-08-25 Brianna Gilpin Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago August 25, 2017 1,203 Views Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Paul Gomez is Senior Vice President & Chief Operations Officer for Genworth’s U.S. Mortgage Insurance business, based in Raleigh, North Carolina. Related Articles Tagged with: underwriter October 8, 2017 1,788 Views Previous: The Week Ahead: Q3 2017 Bank Earnings Next: HLP Announces New Addition to its Board of Directors Servicers Navigate the Post-Pandemic World 2 days ago underwriter 2017-10-08 Paul Gomez Share Save The Best Markets For Residential Property Investors 2 days ago In industries where price competition is fierce, finding other ways to bolster a company’s brand is vital for success and survival. In the mortgage industry, one proven way to do this is by making the underwriting experience as productive and efficient as possible.A Need for SpeedIn today’s market, speed is paramount. Not surprisingly, this holds true in underwriting as well. Loan officers and loan processors want an underwrite as quickly as one can be completed. Research* shows that across underwriting service providers, turn time (or speed of the underwrite) is one of the most important characteristics associated with a best-in-class underwriter.As such, the ultimate responsibility of every underwriter then becomes the completion of an underwrite as quickly as possible without sacrificing quality. Many underwriting companies turn to technology solutions for the assist in reaching this goal. Integrated capabilities such as intelligent document ingestion, workflow and automated loan routing, predictive analytics, and rules-based programming are becoming more common. These capabilities also enable enhanced data collection, which can provide further insight into loans underwritten, identify opportunities for innovation, and support predictive analytics.Approvals with Pricing That’s Just RightExpectation of an approval and competitive pricing are both significant factors in deciding which underwriter/underwriting service provider to work with. Pricing, of course, cannot be ignored for all the obvious reasons. However, pricing and underwriting speed are essentially irrelevant when a loan does not receive an approval.This does not mean that pricing is not still an important component. Even premier customer service has its limits in mitigating the effects of higher pricing. In order to steadily drive more business, underwriting service providers must ensure that they remain competitive in pricing without losing focus on other key customer service attributes.Customer Service You Can Rely OnRegardless of how much emphasis is seemingly placed on pricing as a highly valued attribute, studies show that this is not as singular of a focus as one might think. In fact, attributes such as turn time, ease of submission, expertise, customer service, and responsiveness often trump pricing and fees.All of these can be characterized as traits of good customer service, which illustrates a significant dynamic: price is not everything when generating new business.Regardless of why customer service may rank higher than pricing, the importance of customer service can be used to an underwriter’s benefit. Underwriters can directly affect the customer service they offer within their normal course of business, thus helping their companies grow business. And, good customer service has a compounding effect on new business generation. Each positive experience encourages customers to provide repeat business, and over time this can lead to a significant positive brand association and customer loyalty. The impact of good customer service cannot be overrated.ConclusionPrice is not everything when it comes to the decision of where to do business. Good customer service encompasses higher-priority attributes than other decision factors, leading to better referral rates than simply having the best price. Could your company’s customer service plan be better focused?*Research derived from 2016 and 2017 Genworth administered blind surveys to underwriting decision makers. 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 The Power of the Underwriter Home / Daily Dose / The Power of the Underwriter Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News  Print This Post Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

first_imgHome / Daily Dose / The Week Ahead: CFPB Updates Congress On Tuesday, March 10, the Senate Committee on Banking, Housing, and Urban Affairs will hold a hearing to examine the Consumer Financial Protection Bureau’s (CFPB) semi-annual report to Congress. The U.S. Supreme Court heard opening arguments Tuesday in Seila Law v. the Consumer Financial Protection Bureau—a case that could decide the constitutionality of the Bureau.The CFPB was designed to rein in abusive practices in consumer credit marks, such as home mortgages and credit cards. CNBC states it returned $12 billion to consumers between 2011 and 2017 but stopped pursuing enforcement actions under President Donald Trump.The CFPB has been the subject of several lawsuits, most recently by the California-based Seila Law. Seila Law alleges the CFPB’s insulation from presidential control is unconstitutional. The law firm challenged the agency after the CFPB targeted the firm 2017, CNBC states.Kannon K. Shanmugan, attorney for Siela Law, who argues the CFPB was constructed against the U.S. constitution, had a clear message for the Supreme Court.“The structure of the CFPB is unprecedented and unconstitutional,” Shanmugan said. “Never before in American history has Congress given so much executive power to a single individual who does not answer to the President.”He added that by limiting the President’s ability to remove the CFPB’s director, Congress violated the “core presidential prerogatives” to exercise the executive power that laws are faithfully executed.Shanmugan continued his opening remarks by saying the Solicitor General contends that the Supreme Court should rewrite the Dodd-Frank Act, giving the president the power to remove the CFPB’s director.“But the constitutional question, in this case, arises in the context of a defense to an enforcement proceeding and not a facial challenge,” he said.Here’s what else is happening in The Week Ahead:Financial accounts of the U.S. (March 12) in Daily Dose, Featured, Market Studies, News Subscribe The Week Ahead: CFPB Updates Congress Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles  Print This Post Previous: Seven Major Mortgage Servicing Tech Trends Next: CFPB Proposes Whistleblower Award Program Share Save March 8, 2020 1,090 Views Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2020-03-08 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. The Week Ahead: Nearing the Forbearance Exit 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 Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily House Financial Services Committee Chair Calls for CRA Changes Home / Daily Dose / House Financial Services Committee Chair Calls for CRA Changes About Author: Seth Welborn Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News 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 Tagged with: CRA FDIC OCCcenter_img 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. This week, Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee, led a letter to Joseph Otting, Comptroller of the Currency, and Jelena McWilliams, Chairman of the Federal Deposit Insurance Corporation, urging them to prioritize a strong response to the COVID-19 pandemic and suspend efforts to revise the Community Reinvestment Act (CRA) and any “unrelated rulemakings.”“At a time when regulators should be working together to appropriately respond to this growing pandemic and keep our banking system safe and sound, unrelated rulemaking should be put on hold for the time being,” the lawmakers wrote. “To that end, we urge you to delay any unrelated rulemakings, including the Notice of Proposed Rulemaking (NPRM) with respect to the CRA, during the ongoing crisis. After the crisis passes, we urge your agencies to work with the Federal Reserve to develop a new, joint NPRM that is consistent with the purpose of the Community Reinvestment Act.”According to the National Community Reinvestment Coalition (NCRC), the proposed changes to the CRA regulations outlined in NPRM would weaken CRA and would decrease CRA-related lending, investing, and services to low- and moderate-income (LMI) households and communities.The NCRC agrees with FDIC board member Martin Gruenberg, who stated, “This is a deeply misconceived proposal that would fundamentally undermine and weaken the Community Reinvestment Act.”“The Office of the Comptroller of the Currency (OCC) and Federal Deposit Insurance Corporation (FDIC) laud CRA, stating that it has been responsible for trillions of dollars in lending and investing in LMI communities,” the NCRC states. “The agencies assert that their proposal would leverage billions of additional CRA dollars.However, the NPRM would halt if not reverse the progress made under CRA by introducing an overly simplistic and yet convoluted evaluation system that would divert CRA lending and investing away from LMI families and communities.” Related Articles  Print This Post Demand Propels Home Prices Upward 2 days ago April 9, 2020 1,593 Views Previous: Property Taxes Increased to Over $306.4B Next: Mortgage Industry Braces for Spike in Delinquencies The Best Markets For Residential Property Investors 2 days ago Share Save CRA FDIC OCC 2020-04-09 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

first_img About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / 2020 Five Star Conference Going Virtual June 25, 2020 1,839 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Regulators Issue New Guidance for Examiners Amid COVID-19 Next: DS5: Protecting Homeowners From Fraud Related Articles  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily center_img 2020 Five Star Conference Going Virtual Share Save Tagged with: Coronavirus The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Coronavirus 2020-06-25 Mike Albanese Five Star Global has announced that the 2020 Five Star Conference and Expo will now be a fully virtual event on September 14-15.  Five Star recently held two other virtual conferences for the industry, the Legal League 100 Spring Servicer Summit and the 2020 Disaster Preparedness Symposium—originally planned as live events—were converted into online formats. “This decision did not come easy for me or the Five Star family, but given the circumstances, we felt it was the right choice,” said Five Star Global President and CEO Ed Delgado. “However, no pandemic will deter Five Star from delivering the best conference experience with unparalleled networking and education for lenders, servicers, and government agencies.” “Now more than ever, Five Star is committed to supporting value-added opportunities to enrich the mortgage community,” he added.  Five Star is not alone when it comes to moving 2020 live events into a virtual format, as the Mortgage Bankers Association (MBA) has also announced that the remainder of its 2020 Fall Conference schedule, including its Annual Convention and Expo, are being moved online. The outbreak of the pandemic in the spring also prompted the cancelation or delay of numerous industry events, including several MBA and Ellie Mae events. Prior Five Star Conferences have been attended by leaders from the Federal Housing Administration, the Department of Housing and Urban Development, Fannie Mae, Freddie Mac, Wells Fargo, Flagstar Bank, and US Bank.  Past events included sessions that delved into foreclosures, legal practices, single-family built for rent, as well as member-only events from the FORCE and the Legal League 100.  Since March, the spread of COVID-19 has disrupted the housing and mortgage industries. President Donald Trump on March 13 officially declared a national emergency in response to the outbreak.  In response to the pandemic, the FHFA provided forbearance plans for borrowers with loans backed by the GSEs. Black Knight reported that on June 22 an additional 723,000 homeowners were past due on their mortgages in May—pushing the national delinquency rate to its highest level in 8.5 years.  There are currently more than 4.3 million homeowners past due on their mortgage or active foreclosures.  Serious delinquencies are on the rise as well, increasing by more than 50% over the past two months. However, Black Knight’s McDash Flash Payment Tracker shows a higher share of payments have been made thus far in June than at the same time in May, suggesting the rise in delinquencies may be leveling off.  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. Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

first_imgHome / Daily Dose / Remembering FDIC’s First Chief Economist About Author: Christina Hughes Babb 2020-11-13 Christina Hughes Babb in Daily Dose, Featured, News Previous: The Road to Mortgage Industry Innovation Next: FHA 2020 Report Shows How It Helped Struggling Homeowners Richard Alan BrownFollowing a four-year battle with brain cancer, Dr. Richard Alan Brown, 58, died November 8.The Ashburn, Virginia, resident served as the first Chief Economist at the Federal Deposit Insurance Corporation (FDIC), where, according to an obituary on the Adams-Green Funeral Home site, “he was an integral part of the agency’s response to The Great Recession in the late 2000s.”“Rich was the consummate professional, with an accomplished career that set him apart from others, and yet, he never allowed his status to change the manner in which he engaged others,” said Andrea Riche, Chief, International Affairs, FDIC. “He was a kind, honest, and encouraging man with an unparalleled ability to find solutions to problems and get things done.”Brown frequently spoke to bankers and other trade groups about the economy, and he was a source sought after by the Wall Street Journal, Business Week, CNBC, and other media outlets for insight, according to his bio on the FDIC’s website. (The FDIC, in lieu of a comment, directed DS News to the 2003 press release announcing his appointment).Later, from 2018-2019, Brown served on the White House Council of Economic Advisors, where he specialized in financial regulation and managed that part of the Economic Report of the President.Those close to Brown say the savings and loan crisis of the 1980s “propelled him into a career in public service.”Ed Delgado, Chairman, Five Star Global, told DS News, “To say that Rich was respected and beloved by his colleagues, at the FDIC and abroad, would be an understatement.”According to the tribute to Brown, his family believes his cancer possibly resulted from exposure to debris at the World Trade Center on 9/11.”That morning, Rich was at a conference on the ground floor of the Marriott World Trade Center while his wife and two oldest sons were in their hotel room on the 15th floor,” according to the tribute. “Rich knew exactly where to meet his family on their way down the stairs and safely escorted them to battery park in lower Manhattan before the collapse of the south tower.”In his personal life, Brown was a fan of cycling, history, and baseball. He is survived by his wife of 31 years, Catherine Brown, and four adult sons.His funeral was held Friday at St. Theresa Catholic Church in Ashburn.You can read the tribute to Brown in full by clicking here. 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 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. Related Articles  Print This Post Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 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 November 13, 2020 2,209 Views Share Save Remembering FDIC’s First Chief Economist 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 Subscribelast_img read more

first_img The Best Markets For Residential Property Investors 2 days ago Affordability Arpita Chakravorty Mortgage Bankers Association (MBA) Samer Kuraishi Zillow 2021-04-14 Eric C. Peck 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 Housing Supply to Rise in Second Half of 2021 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: To What Extent Have Homeowners Prepared for Disaster? Next: Cash-Strapped Consumers Putting Mortgages First Demand Propels Home Prices Upward 2 days ago April 14, 2021 1,624 Views center_img  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Subscribe Zillow’s latest Home Price Expectations (ZHPE) survey for Q1 2021 has found that the need for homes with larger work spaces will be in demand, as telework has fueled the need for work at home accommodations.A majority (95%) of economists and real estate experts polled by Zillow for the ZHPE survey say an increased preference to work remotely at least part-time will be a permanent shift. Of employed individuals who work remotely at least one day a week, 23% said they were more likely to consider moving because of the pandemic, as only 13% of employed people who always work at their employer’s location said the same.Zillow economists expect 17.2% more home sales this year than in 2020.“As the pandemic subsides and the economy begins to recover, lowered health risks and renewed homeowner financial confidence should bring more sellers to the market,” said Zillow Economist Arpita Chakravorty. “That increased inventory would ease buyer competition that has driven prices higher during the pandemic, but expect a steady pace of home value growth to persist into the near future. Mortgage rates have risen some but are still low by historical standards, adding to people’s purchasing power and helping to keep competition for homes revved up.”Pandemic-related job loss has contributed to a number of the nation’s renters being forced to sit on the sidelines in a buyer’s market. Federal actions extending eviction and foreclosure moratoria have been extended several times, as estimated 2.3 million Americans are currently in forbearance plans according to the Mortgage Bankers Association (MBA). Zillow panelists believe a large majority (85%) of cash-strapped renters will either find ways to remain in their current home or will avoid eviction by moving to a less-expensive home. Still, panelists said they expect some 15% of currently distressed renters will ultimately be evicted, representing millions of households.In terms of the ideal home that shoppers seek, the survey found that Americans prefer a 2,000-square-foot home with three bedrooms and two bathrooms—the same as when surveyed a year ago.And while the ideal home has not changed, the number of homes has dried up as the demand has far exceeded the supply nationwide. A majority of ZHPE panelists (53%) expect home inventory to grow again this year, likely during the second half of 2021. An increase in existing-homes being listed for sale is expected to be the biggest factor in the reversal, with 38% of panelists saying this will factor as a catalyst for this growth in inventory.”As the economy continues to recover, more potential sellers will enter the market as they gain confidence in their employment,” said Samer Kuraishi, President and Founder at The ONE Street Company in Washington, D.C. “It’s been tough on homeowners who want to sell but might have lost their job, or cannot work remotely. Increased employment stability will only raise confidence and push people off the sidelines. While we have optimism about April and the summer, our work with clients will remain the same: arm, educate, and empower them to learn the market and understand the road ahead.”Strong competition for the short supply available forced prices upward last year, as the typical U.S. home appreciated by more than $20,000 in 2020. Even with an expectation for more inventory to help meet buyer demand, ZHPE panelists on average expect home prices to grow 6.2% in 2021—a full two percentage points higher than when they were surveyed in Q4 2020—as several panelists call for double-digit price growth this year.“In the wake of last year’s heady home equity gains, these new projections indicate that the aggregate value of homes across the country will increase by another $2 trillion in 2021,” said Terry Loebs, founder of Pulsenomics. “This is great news for existing homeowners, but even with a robust economic rebound in the coming months affordability will likely remain a challenge for many aspirational renters looking to move into homeownership this year.”Click here to read more about the Q1 2021 Zillow Home Price Expectations (ZHPE) survey. Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Home / Daily Dose / Housing Supply to Rise in Second Half of 2021 Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Tagged with: Affordability Arpita Chakravorty Mortgage Bankers Association (MBA) Samer Kuraishi Zillow About Author: Eric C. Peck in Daily Dose, Featured, Journal, Newslast_img read more