DS News Webcast: Wednesday 5/29/2013

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Featured / DS News Webcast: Wednesday 5/29/2013 DS News Webcast: Wednesday 5/29/2013 The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago May 30, 2013 586 Views center_img The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe in Featured, Media, Webcasts About Author: DSNews 2013-05-30 DSNews Previous: Waushara County Adopts Electronic Document Recording System Next: New York AG Presses for Passage of Two Foreclosure Bills Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

Read more on DS News Webcast: Wednesday 5/29/2013

Foreclosure Inventory, Delinquencies See Declines in September

first_img Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Foreclosure Inventory, Delinquencies See Declines in September Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Previous: DS News Webcast: Friday 10/24/2014 Next: Index Points to Moderate Economic Growth For Remainder of 2014 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.  Print This Post in Daily Dose, Featured, Foreclosure, News Tagged with: Black Knight Financial Services Delinquent Mortgages Foreclosure Inventory Foreclosures Non-Current Mortgage Loans Seriously Delinquent Mortgages Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Foreclosure Inventory, Delinquencies See Declines in September Demand Propels Home Prices Upward 2 days ago Subscribe Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Black Knight Financial Services Delinquent Mortgages Foreclosure Inventory Foreclosures Non-Current Mortgage Loans Seriously Delinquent Mortgages 2014-10-24 Brian Honea October 24, 2014 1,031 Views The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago In September, foreclosure inventory in the U.S. fell to its lowest level in more than six years while delinquencies also significantly declined, according to Black Knight Financial Services’ “First Look” at September Mortgage Data released on Friday.The percentage of current residential mortgage loans in some state of foreclosure fell to 1.76 percent, its lowest level since February 2008, according to Black Knight. The overall number of mortgage loans in the foreclosure process totaled about 893,000 for September, a decline of 33 percent from the same month a year ago when about 1.33 million mortgage loans were in foreclosure.Month-over-month, foreclosure inventory dropped by 20,000, a 2.2. percent decrease, according to Black Knight.Residential mortgage loans that were delinquent, or “non-current” (30 days or more overdue but not in foreclosure), totaled about 2.9 million in September, Black Knight reported. This number represented a decline of 3.9 percent (about 117,000 loans), nearly erasing the increase delinquent loans experienced in August. The number of delinquent loans is down 12.2 percent since September 2013.The top five states for highest non-current mortgage loan percentage were Mississippi (14.4 percent), New Jersey (12.2 percent), Louisiana (11.2 percent), New York (10.7 percent), and Florida (10.6 percent), according to Black Knight. The five states with the lowest non-current mortgage loan percentage were North Dakota (2.4 percent), South Dakota (3.6 percent), Colorado (3.7 percent), Montana (3.9 percent), and Minnesota (4.0 percent).The number of mortgage loans that were 30 days or more overdue on payments or in foreclosure also took a dive in September, according to Black Knight. The number was reported at about 3.8 million for the month, a decline of 137,000 from August and 822,000 from September 2013.The total number of seriously delinquent loans (90 or more days overdue) fell by about 25,000 from August to September down to 1.1 million, the lowest total since August 2008, according to Black Knight. In September 2013, about 1.33 million residential mortgage loans were seriously delinquent. The top five states for highest seriously delinquent rates were Mississippi (5.3 percent), Alabama (3.6 percent), Rhode Island (3.53 percent), Louisiana (3.52 percent), and Massachusetts (3.3 percent), Black Knight reported.Foreclosure starts increased by 11.5 percent in September, up to 91,000, Black Knight reported. However, there was a decline in foreclosure starts year-over-year of 16.5 percent. The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily last_img read more

Read more on Foreclosure Inventory, Delinquencies See Declines in September

RMBS Suit Filed by S&P Investors is Denied Revival by U.S. Supreme Court

first_img in Daily Dose, Featured, News Home / Daily Dose / RMBS Suit Filed by S&P Investors is Denied Revival by U.S. Supreme Court Tagged with: Lawsuits Mortgage-Backed Securities Standard & Poor’s U.S. Supreme Court The U.S. Supreme Court recently decided to deny the revival of a suit involving allegedly false statements made about toxic mortgage-backed securities by Standard & Poor’s (S&P) rating agency.Boca Raton Firefighters & Police Pension Fund accused S&P’s parent company McGraw-Hill Financial CEO Harold McGraw III and former CFO Robert Bahash of breaking federal law by convincing investors that their credit ratings were accurate, according to court documents and a media report.Ultimately, the judge determined that the court system “will not credit mere business ‘puffery,’ which we have defined in this context as ‘statements [that] are too general to cause a reasonable investor to rely upon them.’”The suit, brought about by the pension fund shareholders in February 2013, stemmed from information given from a lawsuit by the U.S. Department of Justice (DOJ) over S&P’s alleged role in the financial crisis. A district judge refused to revive the case in September 2013 based on allegations by the DOJ, saying that the outcome of the case would not have been changed by new information brought up about representations made by S&P to investors. The judge had previously found a lack of proof that S&P knowingly made false statements about the securities it rated. The Second Circuit Court affirmed the District Court’s decision in February and refused to grant the plaintiffs a rehearing, according to the report.S&P agreed to pay the DOJ $1.375 billion dollars to settle the financial crisis accusations in February 2015, according to the report.On July 20, 2015, the plaintiffs filed a petition for a writ of certiorari with the country’s highest court, claiming the lower court did not weigh the context of S&P’s statements about certain mortgage-backed securities before the crisis. The writ questioned “whether a verifiably false factual statement about a matter of obvious importance to a company can nevertheless constitute inactionable ‘puffery’ under the federal securities laws.”According to the court documents, between October 21, 2004 and March 11, 2008, S&P rated structured finance transactions including residential mortgage-backed securities (RMBS) and collateralized debt obligations (CDOs). S&P rated approximately 10,000 RMBS in 2006 and 2007 alone.The investors noted in the writ that “as the quality of the underlying housing loans declined and the RMBS and CDO products increasingly bundled “junk” loans, S&P intentionally adjusted its ratings models to rate those securities as AAA and investment grade in order to preserve and increase its market share.”McGraw-Hill representatives nor the investors responded to requests for comment.The suit clearly did not affect operations at McGraw-Hill, as their third quarter earnings statement released Tuesday reflected a 5 percent increase in revenue to $1.32 billion compared to last year.”The performance in the quarter demonstrates the balance across the portfolio as the Company continued to deliver solid revenue growth, margin expansion and adjusted EPS growth during the third quarter despite a significant decline in global bond issuance,” said Douglas L. Peterson, president and CEO of McGraw Hill Financial.He added, “This year’s margin expansion is the result of top-line growth and a concerted focus across the Company to deliver on our productivity targets. As we look to continue to build shareholder value, we are ever more excited with the addition of SNL and the synergy potential with S&P Capital IQ and Platts to create an offering that is distinctive and essential to the global financial markets. Lastly, we remain committed to actively repurchasing our shares–having repurchased 4.9 million shares in the last nine months.” Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Sign up for DS News Daily Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago November 3, 2015 1,013 Views Servicers Navigate the Post-Pandemic World 2 days ago About Author: Xhevrije West RMBS Suit Filed by S&P Investors is Denied Revival by U.S. Supreme Court Lawsuits Mortgage-Backed Securities Standard & Poor’s U.S. Supreme Court 2015-11-03 Brian Honeacenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Bank of America is Well Ahead of Pace to Fulfill Settlement Obligation Next: CFPB Reports Another $107 Million Returned to Consumers Through Supervisory Actions Related Articles Governmental Measures Target Expanded Access to Affordable Housing 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 Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Share Savelast_img read more

Read more on RMBS Suit Filed by S&P Investors is Denied Revival by U.S. Supreme Court

Credit Unions Petition CFPB Director Cordray for Exemption

first_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Consumer Financial Protection Bureau Credit Unions NAFCU in Daily Dose, Featured, Government, News March 17, 2016 1,141 Views In response to Consumer Financial Protection Bureau (CFPB) Director Richard Cordray’s testimony before Congress Wednesday in which he defended the Bureau’s oversight of credit unions, National Association of Federal Credit Unions (NAFCU) President and CEO Dan Berger wrote Cordray a letter Thursday asking the Director to exempt credit unions from certain rulemakings.Credit unions have long argued that the CFPB’s regulatory oversight intended for larger financial institutions is making financial products more expensive for consumers due to increased compliance costs, and in many cases putting credit unions out of business. The NAFCU reported earlier this week that since the second quarter of 2010, more than 1,350 federally-insured credit unions have been lost, 96 percent of which had below $100 million in assets.“NAFCU would like to reiterate our longstanding position with the Bureau that regulatory burden is the top challenge facing credit unions of all sizes today,” Berger wrote in Thursday’s letter. “While smaller credit unions continue to disappear from this growing burden, all credit unions are finding the current environment challenging.”Earlier this week, a bipartisan group of 329 members of the U.S. House of Representatives led by Rep. Steve Stivers (R-Ohio)—approximately three-quarters of the House membership—wrote a letter to Cordray on behalf of credit unions asking the Director to exercise his authority under the Dodd-Frank act to exempt credit unions from the certain CFPB regulations.“NAFCU and our members believe that since Congress gave CFPB broad authority in Section 1022 of Dodd-Frank to grant exemptions on a rule by rule basis, the Bureau can and should do more to protect the credit union industry from excessive regulations,” Berger wrote Furthermore, earlier this week, 329 members of Congress wrote to you urging the Bureau to exercise its explicit congressionally authorized authority under Section 1022 to provide meaningful regulatory relief for credit unions to be exempt from certain rulemakings.”The relationship between the regulator for credit unions, the Credit Union National Association (CUNA), and the CFPB has been a rocky one since the Bureau’s formation nearly five years ago, with CUNA claiming that credit unions should not fall under the CFPB’s oversight because they did not play a role in the 2008 financial crisis. Cordray may have fanned the flames in February when he defended the Bureau’s oversight of credit unions and several of the Bureau’s mortgage-related regulatory changes, namely the Qualified Mortgage rule and the new servicing rules, in a public speech at CUNA. Consumer Financial Protection Bureau Credit Unions NAFCU 2016-03-17 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save 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. Related Articles About Author: Brian Honeacenter_img Servicers Navigate the Post-Pandemic World 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 Previous: Low Credit Score May be Keeping Many Renters from Homeownership Next: Where Does the Money Go? Maybe We Should Ask the Michigan Legislature. . . Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Credit Unions Petition CFPB Director Cordray for Exemption Credit Unions Petition CFPB Director Cordray for Exemption Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Postlast_img read more

Read more on Credit Unions Petition CFPB Director Cordray for Exemption

Assurant Field Asset Services Welcomes VP of Supply Chain Operations

first_img Assurant Field Asset Services 2016-04-29 Brian Honea Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago April 29, 2016 1,145 Views About Author: Xhevrije West Share Save Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Assurant Field Asset Services in Featured, News Related Articles Assurant Field Asset Services Welcomes VP of Supply Chain Operationscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Assurant Field Asset Services, a unit of Assurant Mortgage Solutions, appointed Warner Mizell as VP of Supply Chain Operations.Mizell’s focus is establishing technology-enabled processes and operations that will improve the performance, capabilities, and quality of AFAS’ vendor network and overall field services. Mizell is responsible for AFAS’ field team, including vendor oversight, recruitment, and supply chain management.Mizell joined AFAS in November 2015 with extensive experience in several innovative technology-enabled services companies, including prior work with nationwide servicers in single-family homes. Mizell has a lengthy track record of delivering creative field solutions across many industries including real estate. Previous: The Re-emergence of Loan Defects Next: eMortgage Logic Announces New Director of Sales Is Rise in Forbearance Volume Cause for Concern? 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Home / Featured / Assurant Field Asset Services Welcomes VP of Supply Chain Operations Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribelast_img read more

Read more on Assurant Field Asset Services Welcomes VP of Supply Chain Operations

Asurity Technologies Announces Integrated Compliance Platform

first_img in Featured, Headlines, Technology 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] May 26, 2017 2,764 Views Previous: Black Knight Launches Municipal Lien Search Next: Seven Markets Enjoying Fast Closings Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Lending Mortgage Resources Group Risk Risk Management Solutions Treliant Solutions 2017-05-26 Brianna Gilpin The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brianna Gilpin Asurity Technologies Announces Integrated Compliance Platform  Print This Post Subscribe The Best Markets For Residential Property Investors 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Asurity Technologies, an enterprise formed to provide the financial services industry with RegTech solutions, announced its formation as an entity bringing together Treliant Solutions, LLC, Risk Management Solutions, Inc., and Mortgage Resources Group, LLC into an integrated compliance platform. According to Asurity, this platform will allow lenders to establish compliance, proactively manage a fair lending and redlining risk, and submit for both HDMA and CRA.The Asurity platform allows lenders to establish compliance through RiskExec, a SaaS analytic solution, to proactively manage a fair lending and redlining risk and submit for HMDA and CRA. The platform also provides MRG Docs, an individual mortgage loan compliance solution, which generates exceptionally accurate residential mortgage documents compliant with all local, state and federal consumer compliance regulations. In the months ahead, Asurity will be announcing the addition of new solutions to its platform.“By bringing RiskExec and the MRG mortgage documents and loan origination compliance solutions onto Asurity’s platform, we are advancing our goal to deliver leading compliance solutions to our financial services clients built in an advanced information security environment,” says Andrew L. Sandler, Chairman of Buckley Sandler, CEO of Treliant Risk Advisors, and Founder of Asurity Technologies. “We believe our Asurity solutions, developed on a strong technology platform and designed by experienced compliance professionals, will deliver significant economic value in a trustworthy, secure, and user-friendly way that helps our clients navigate the increasingly complex and difficult compliance challenges posed by the regulatory environment in which they operate. I am excited to be able to work with Dr. Anurag Agarwal, architect of the RiskExec solution suite, Michael Riddle, founder of MRG, and his team of experienced mortgage lawyers, led by Marsha Williams, in this exciting venture.”Asurity Technologies formally debuts its compliance platform on June 11.For more information, click here. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / Asurity Technologies Announces Integrated Compliance Platform Sign up for DS News Daily Tagged with: Lending Mortgage Resources Group Risk Risk Management Solutions Treliant Solutions Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Read more on Asurity Technologies Announces Integrated Compliance Platform

State of the Market

first_img About Author: Joey Pizzolato Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected]  Print This Post The Federal Open Market Committee (FOMC) released its minutes from its meeting in July on Wednesday, which detailed the Fed’s outlook on the state of all facets of the economy since its meeting in June, when it decided to raise interest rates.In their staff review of the economic situation, the FOMC reported that investment in real estate declined slightly in the second quarter of 2017, even though starts in single-family homes and multifamily homes rose in June. The number of building permits that were issued for both single-family and multifamily homes was also lower in the second quarter than it was in the first. In May as well as June existing home sales decreased; however, new home sales in May were on the rise.The FOMC also reported that Treasury yields for long- and intermediate-term securities showed a slight increase in June, which was attributed to potential declines in the long-term neutral real interest rates in the past few years as well as an accommodative foreign monetary policy. Commercial real estate financing conditions also remained accommodative, although loans slowed.In the residential mortgage market, the Fed observed that the market was hardly changed and new credit continued to flow at a reasonable pace, while at the same time many respondents of the Senior Loan Officer Opinion Survey (SLOOS) reported that standards for most residential loans were not as tight as they have been in the past.Participants of the meeting did unanimously agree that regulatory and supervisory tools that have been developed since the housing crisis have been paramount in helping maintain financial stability, as well as the fact that a continued, slow increase in the federal funds rate was an appropriate solution to maintain their goal of maximum employment and an inflation rate that hovered around 2 percent.You can read the full details of the minutes here. Previous: Household Debt Reaches Record High Next: Homework Pays Off Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago State of the Market Home / Daily Dose / State of the Market in Daily Dose, Featured, Government, Headlines, News Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fed Federal Open Market Committee Minutes FOMC 2017-08-16 Joey Pizzolato Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Fed Federal Open Market Committee Minutes FOMC Governmental Measures Target Expanded Access to Affordable Housing 2 days ago August 16, 2017 1,364 Views last_img read more

Read more on State of the Market

Why Are Homeowners Choosing Not to Sell?

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Sign up for DS News Daily Related Articles 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. Share Save Tagged with: First American Home Sales Homeowners HOUSING mortgage Subscribe Previous: Growth Anticipated Despite Housing Shortage Next: The Industry Pulse: Updates on Covius, McMichael Taylor Gray, and More … First American Home Sales Homeowners HOUSING mortgage 2018-10-18 Radhika Ojha Demand Propels Home Prices Upward 2 days ago The average tenure of homeowners remaining in their current homes has increased from an average of four years in 2007 to 10 years in September 2018, according to First American’s report on Potential Home Sales released on Thursday.The report indicated that despite rising home equity, rising interest rates were creating a financial disincentive that prevented existing homeowners who had locked in their mortgage rates when they were low, from selling their homes. This, in turn, according to Mark Fleming, Chief Economist at First American, was “further limiting supply and restricting existing-home sales from reaching their potential.”Citing data from DataTree by First American, Fleming pointed out that just prior to the financial crisis homeowners stayed in their homes for four years, but that tenure increased to around seven years between 2008 and 2016.”Many people remained in their homes because their mortgage balances exceeded their property values during this time, so they would have lost money by selling their homes,” he said. “However, as home prices have recovered over the last 10 years, many homeowners have accumulated enough equity to sell their homes at a profit. Despite the increase in equity, median tenure length jumped to 10 years in September 2018, a 10 percent year-over-year increase.”Data from the Potential Home Sales model indicated that the market for existing home sales was underperforming its potential by 7.2 percent, even though potential home sales increased to a 6.18 million seasonally adjusted annualized rate month-over-month in September.”There is less incentive to sell your home if borrowing the same amount from the bank at today’s rates will be more expensive than your existing monthly mortgage payment,” Fleming said. “As rates rise, many existing homeowners are increasingly financially imprisoned in their own home by their historically low mortgage rate.”The report measures existing-homes sales, on a seasonally adjusted annualized rate based on the historical relationship between existing-home sales and U.S. population demographic data, income and labor market conditions in the U.S. economy, price trends in the U.S. housing market, and conditions in the financial market.center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago October 18, 2018 1,568 Views Home / Daily Dose / Why Are Homeowners Choosing Not to Sell? Servicers Navigate the Post-Pandemic World 2 days ago 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Why Are Homeowners Choosing Not to Sell?last_img read more

Read more on Why Are Homeowners Choosing Not to Sell?

Analyzing Mortgage Delinquency Performance

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post About Author: Donna Joseph Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Declining unemployment rates and rising home prices have helped reduce delinquency rates, according to Archana Pradhan, Senior Professional, Economist at CoreLogic. In her blog titled “Mortgage Delinquency Rates for All Loan Types Continue to Fall”, Pradhan indicated that the serious delinquency rate for September 2018 was 1.5 percent, representing a 0.4 percentage point decline compared with September 2017. The blog based on information from the CoreLogic Performance Index revealed that the serious delinquency rates for Federal Housing Administration (FHA), U.S. Department of Veterans Affairs (VA), and conventional loans were 3.7, 1.9 and 1.1 percent as of September 2018—representing an 11-year low. CoreLogic data shows the serious delinquency rate for FHA loans is more than three times higher than the serious delinquency rate for conventional loans, partly because of the rise in FHA to conventional refinancing since 2013, Pradhan said. FHA to conventional refinances accounted for about 10 percent of all refinances in 2017 compared to 2 percent in 2012.Pradhan pointed out that a closer look reveals that today’s delinquency rates are influenced by older loans, wherein about 67 percent of the conventional loans that were seriously delinquent in September 2018 were originated between 2003 and 2009 compared to just 23 percent of seriously delinquent conventional loans originated between 2010 and 2018. About 48 percent of the FHA loans and 69 percent of VA loans that were seriously delinquent were originated between 2010 and 2018, the blog indicated.According to CoreLogic, the delinquency rates were much higher for all loan types originated between 2006 and 2008. An improvement in all types of loans recorded gradual improvement in delinquency rates were much higher for all loan types originated between 2006 and 2008. Performance of all types of loans started to improve gradually beginning with the 2009 vintage as the underwriting standards tightened and the economic recovery began mid-2009Another key finding of the report was that loans originated in 2015 and 2016 have performed the best, with the lowest 15-month delinquency rate in a decade. The affordable loans originated in the past three years have a significantly lower delinquency rate than the FHA and VA loans. In fact, the serious delinquency rate for affordable housing loans is only a little bit higher than that of conventional loans. Read the full report here. Previous: The Housing Market’s New Normal? Next: In Times of Emergency Analyzing Mortgage Delinquency Performance in Daily Dose, Featured, Market Studies, News, Servicing Share Save Tagged with: Archana Pradhan CoreLogic Delinquency Mortgage Rates Serious Delinquency Archana Pradhan CoreLogic Delinquency Mortgage Rates Serious Delinquency 2019-01-03 Donna Joseph Servicers Navigate the Post-Pandemic World 2 days ago January 3, 2019 3,537 Views center_img Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Home / Daily Dose / Analyzing Mortgage Delinquency Performance Related Articleslast_img read more

Read more on Analyzing Mortgage Delinquency Performance

Due Diligence and Florida Procedural Requirements

first_imgSign up for DS News Daily  Print This Post Due Diligence and Florida Procedural Requirements Servicers Navigate the Post-Pandemic World 2 days ago January 18, 2019 2,054 Views Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Due Diligence and Florida Procedural Requirements Share Save Related Articles Roy A. Diaz is the Managing Shareholder of Diaz, Anselmo Lindberg, P.A. The firm provides representation in Florida, Illinois, Ohio, Indiana, Kentucky, Wisconsin and Michigan. Diaz has been a member of the Florida Bar since 1988. He has concentrated his practice in the areas of real estate, litigation, and bankruptcy. He has represented lenders, servicers of both conventional and GSE loans, private investors, and real estate developers throughout his career with an emphasis on the mortgage servicing industry for over 25 years. Florida Third District Court of Appeals Foreclosure Litigation Processes 2019-01-18 Donna Joseph The Best Markets For Residential Property Investors 2 days ago About Author: Roy Diaz Previous: Trulia Names New Chief Economist Next: What Led Microsoft to Invest $500M in Seattle Housing?center_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Florida Third District Court of Appeals Foreclosure Litigation Processes The Best Markets For Residential Property Investors 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Editor’s Note: This story originally appeared in the January issue of DS News.The Florida Third District Court of Appeals (DCA) recently rendered an opinion wherein it addressed several procedural technicalities that were seemingly insignificant but in fact dispositive of significant issues in a foreclosure case. In Santos v. HSBC Bank USA, etc., Case No. 3D17-531 (Fla. 3d DCA October 31, 2018), the mortgagor executed a note and mortgage in 2005 and defaulted in 2009. The bank filed a foreclosure complaint naming Santos as a defendant in 2015. Santos answered the complaint and asserted several affirmative defenses. The bank replied to Santos’ affirmative defenses but did not move to strike them.The lower court set the matter for a February 2017 non-jury trial and entered judgment in favor of the bank when Santos and her attorney failed to appear for the trial. Santos later moved to vacate the judgment on the grounds of “excusable neglect, improper trial setting, and insufficient evidence of indemnification.” However, prior to having the motion to vacate heard by the lower court, Santos appealed the final judgment, thereby divesting the lower court of jurisdiction to rule on the motion to vacate. Upon Santos’ request, the Third DCA relinquished jurisdiction and the lower court heard and denied Santos’ motion to vacate. Santos failed to amend her notice of appeal to include the court’s denial of her motion to vacate or to otherwise appeal that order.The Third DCA reasserted its jurisdiction and proceeded with the appeal of the final judgment. In her brief, Santos argued the final judgment should have been vacated “because her counsel’s failure to appear for trial was due to excusable neglect … the case was not properly scheduled for trial because it was not at issue” and the bank failed to present sufficient evidence “to support the final judgment’s finding on indemnification.” The Third DCA affirmed the final judgment. However, the court included discussion regarding whether the case was at issue and properly noticed for trial because it brings to light an unfavorable practice in which many foreclosure attorneys engage. Although the bank replied to Santos’ affirmative defenses and argued they were legally deficient, it did not move to strike the defenses. The Third DCA, citing the Florida Rules of Civil Procedure, explained that “failure to state a legal defense in an answer … must be asserted by motion to strike the defense.” Ultimately in Santos, the lack of an unresolved motion to strike rendered the case “at issue” for purpose of trial and formed the basis for affirming judgment in favor of the bank.However, this result should not be misinterpreted to mean it is best to reply to rather than strike legally deficient affirmative defenses. This is clearly demonstrated in several cases but most blatantly in a decision rendered many years ago by the Fourth DCA in Bay Colony Office Bldg. Joint Venture v. Wachovia Mortg. Co., 342 So. 2d 1005, 1006 (Fla. 4th DCA 1977). In Bay Colony, the court explained: “The trial court may not on its own initiative strike an affirmative defense [because] it is legally insufficient; in that case, a motion by a party is required.” The only basis that a court can strike an affirmative defense is if it finds the defense “redundant, immaterial, impertinent, or scandalous.”If a pled defense is legally insufficient, a party must move to strike it. Successfully striking legally insufficient defenses has many benefits. It limits the permissible discovery a party can seek, expediting the litigation and reducing litigation costs. It also limits the issues that must be proved on summary judgment or at trial. Also, from an appellate perspective, the appeal of an order striking a party’s affirmative defenses is reviewed at the higher standard of abuse of discretion. That is a very difficult standard because the appellant must demonstrate that “no reasonable man would take the view adopted by the lower court.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, Print Featureslast_img read more

Read more on Due Diligence and Florida Procedural Requirements