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DS News Webcast: Friday 5/23/2014

first_img Previous: Hawaii Dominates ‘Top 20 Best Beach Town Markets’ Next: DocuTech Adds 2 to Product Management Team Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2014-05-23 DSNews DS News Webcast: Friday 5/23/2014 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: DSNews For the first time in 2014, existing-home sales and total inventory increased in April, while home price growth moderated. According to the National Association of Realtors, total existing-home sales, which the group defines as single-family homes, townhomes, condominiums, and co-ops, rose 1.3 percent to a seasonally adjusted annual rate of 4.6 million in April 2014. The group attributed the April growth to an inevitable rebound after a poor first quarter, as well as an improvement in inventory expanding choices and sales.Total housing inventory as of the end of April rose 16.8 percent to 2.2 million, according to NAR. The inventory at the end of April represented a near 6 month supply, up from a 5 month supply in March. Properties, on average, were on the market for 48 days in April, down slightly from 55 days in March. Regionally, existing-home sales were unchanged in the Northeast, rose slightly in the South and West, and fell in the Midwest.Mortgage rates have yet to find their bottom in 2014, dropping again this week to their lowest level since last October. In its weekly Primary Mortgage Market Survey, Freddie Mac reported that the average rate for the 30-year fixed-rate mortgage at 4.14 percent, down from 4.2 percent last week. Analysts at Bankrate.com pointed to economic concerns over low inflation as well as disappointing readings on the housing markets as key reasons for interest rates remaining lower than expected. The Best Markets For Residential Property Investors 2 days ago Related Articles  Print This Post Servicers Navigate the Post-Pandemic World 2 days agocenter_img May 23, 2014 695 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago in Featured, Media, Webcasts Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Featured / DS News Webcast: Friday 5/23/2014 Share Save Sign up for DS News Daily Subscribelast_img read more

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Fannie Mae CEO Warns Against Housing Finance Reform

first_img January 5, 2015 1,482 Views Subscribe Servicers Navigate the Post-Pandemic World 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 Atlanta Rotary Club Fannie Mae Housing Finance Reform Timothy Mayopoulos 2015-01-05 Brian Honea Demand Propels Home Prices Upward 2 days ago Share Save Previous: Obama to Speak About Housing on Thursday in Phoenix Next: Report: Mortgage Regulations Have Had Positive Impact on RMBS Sector Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Atlanta Rotary Club Fannie Mae Housing Finance Reform Timothy Mayopoulos 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. Speaking as a guest presenter at the Rotary Club of Atlanta on Monday, Fannie Mae President and CEO Timothy Mayopoulos warned against any type of reform where housing finance is concerned, telling the audience that “the (current) system works,” according to a report from the Atlanta Business Chronicle.Mayopoulos said that while the reputation of Fannie Mae and its sibling GSE, Freddie Mac, were hurt by the $188 billion bailout they required in September 2008 when the government took them under conservatorship, Fannie Mae ended up providing stability for the housing market. As of December 2014, Fannie Mae has paid back about $134.5 billion in dividends to the U.S. Department of Treasury.Regarding the possibility of housing finance reform, Mayopoulos said it was hard to predict what the next session of Congress would bring. Many have called for ending the FHFA’s conservatorship of Fannie Mae and Freddie Mac; still others have called for, and even proposed legislature for, eliminating the two GSEs altogther.”Fannie Mae was able to repay the taxpayer within five years. It is sustainable,” Mayopoulos said. “The system works. Any new system being discussed would involve a lot of change and would have a huge amount of risk. It’s important for policymakers to consider how much change do you want to introduce after the crisis when things have stabilized.”Egbert Perry, a Rotarian who is the founder of the Integral Group and chairman of Fannie Mae, said the GSE has provided $4.3 trillion in liquidity for the mortgage market since 2009 and that its current Book of Business totals $3.1 trillion, most of which is in secondary market mortgage loans.Mayopoulos, when asked by Perry how Fannie Mae would operate without the capital that currently totals $2.4 billion and is scheduled to be reduced by $600 million per year until it has reached zero, said that the decision on how the GSE would operate without capital was made when the Agency was placed in conservatorship.  Print This Post About Author: Brian Honea Fannie Mae CEO Warns Against Housing Finance Reform Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Secondary Market Home / Daily Dose / Fannie Mae CEO Warns Against Housing Finance Reform Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Fannie Mae and Freddie Mac Make First Contribution to Housing Trust Fund

first_img Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 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. Home / Daily Dose / Fannie Mae and Freddie Mac Make First Contribution to Housing Trust Fund The Best Markets For Residential Property Investors 2 days ago Fannie Mae FHFA Freddie Mac National Housing Trust Fund 2016-03-14 Brian Honea Fannie Mae and Freddie Mac Make First Contribution to Housing Trust Fund Tagged with: Fannie Mae FHFA Freddie Mac National Housing Trust Fund Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News About Author: Brian Honea Fannie Mae and Freddie Mac have made their first contributions to the National Housing Trust Fund (NHTF), which were originally intended to start when the NHTF was created in 2008 but suspended when the GSEs were taken into conservatorship by the Federal Housing Finance Agency (FHFA).The GSEs will be contributing $186 million to the NHTF in order to provide more funding for construction and rehabilitation of affordable rental housing for low-income families. The fund was signed into law in 2008 as a provision of the Housing and Economic Recovery Act of 2008 by then-President George W. Bush. According to the NHTF’s website, the creation of the fund “is a major victory for low-income housing advocates and the lowest income people in our country with the most serious needs.”FHFA Director Mel Watt announced in December 2014 that he was lifting the temporary suspension of the allocation of GSE funds to the NHTF.”Affordable housing is about opportunity,” HUD Secretary Julián Castro said at the time Watt lifted the suspension. “That’s why today represents important progress for the American people. The Federal Housing Finance Agency’s decision to release resources for the Housing Trust Fund will help people across the nation secure a decent place to call home. This effort will assist individuals from all backgrounds—including low-income families and those experiencing homelessness—in building better lives. HUD will soon issue regulations to implement the Housing Trust Fund.  We look forward to working with partners from throughout the nation to expand the circle of opportunity for current and future generations of Americans.”Castro told a Senate Appropriations subcommittee that states will begin submitting requests to receive money recently contributed to the NHTF by Fannie Mae and Freddie Mac, and that the NHTF would likely begin distributing the money this summer.Fannie Mae and Freddie Mac have been under conservatorship of FHFA since September 2008 “to preserve and conserve their assets and property and restore them to a sound financial condition so they can continue to fulfill their statutory mission of promoting liquidity and efficiency in the nation’s housing finance markets,” according to the FHFA. The two GSEs received a combined $187.5 billion in bailout money from the government in 2008, but have since returned to profitability.Republican lawmakers attempted to stop the lifting of the suspension of the allocation of GSE funds to the Housing Trust Fund. In April 2014, Reps. Ed Royce (R-California) and Jeb Hensarling (R-Texas) wrote a letter to Watt urging the FHFA to continue suspension of the allocation of funds.On Monday, Hensarling criticized the contribution of $186 million by Fannie Mae and Freddie Mac to the NHTF.”In taking this action, Director Watt has made a grave mistake that harms hardworking taxpayers and violates both the letter and spirit of the law,” said Hensarling, who is the chairman of the House Financial Services Committee. “Fannie Mae and Freddie Mac were at the epicenter of the 2008 financial crisis that threw millions of Americans out of work and destroyed trillions of dollars of household wealth. The nearly $200 billion bailout of Fannie and Freddie is still the biggest, costliest taxpayer-funded bailout in history, and contrary to what some claim, they have yet to ‘repay’ taxpayers one thin dime. Diverting assets from taxpayers to housing trust funds re-invites the same politically directed lending abuses that have characterized the broken GSE model and sows the seeds for the next housing crisis.”Royce, a senior member of the House Financial Services Committee, also spoke out against the GSEs’ contribution to the NHTF on Monday. Royce introduced the Pay Back the Taxpayers Act of 2015 in January 2015, proposing that no funds from Fannie and Freddie can be used to fund the national Housing Trust Fund while the GSEs are in conservatorship or receivership.”We must stop the egregious siphoning of money from the GSEs to this housing slush fund,” Royce said. “I look forward to working with Chairman Hensarling on advancing the Pay Back the Taxpayers Act, which preempts future payments of this kind and sends them where they belong: to the taxpayers. In the interim, lawmakers should conduct vigorous oversight as to where this money is going, who is using it, and what exactly it is being spent on.” Previous: The Future Looks Bright for Flipping Next: Consumer Expectations are Making a Comebackcenter_img Data Provider Black Knight to Acquire Top of Mind 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago March 14, 2016 5,327 Views Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

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An Influx of Leadership at the Legal League 100

first_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Legal League 100 An Influx of Leadership at the Legal League 100 in Daily Dose, Featured, News Subscribe  Print This Post Legal League 100 2016-10-20 Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Kendall Baer Jim DeLoachThe Legal League 100 Advisory Council has appointed Jim DeLoach, Senior Counsel for McCalla Raymer Pierce LLC, to Chairman of the Education Services Subcommittee. DeLoach will join subcommittee members Caren Jacobs Castle, Senior Mortgage Servicing Attorney for The Wolf Firm; Shaun K. Ramey, Co-Chair Florida Mortgage Services for Sirote & Permutt, PC; and Morgan L. Weinstein, Senior Associate for Van Ness Law Firm, PLC.DeLoach has over 35 years’ experience in mortgage banking and is currently Senior Counsel for McCalla Raymer Pierce LLC in their Mississippi office. DeLoach’s experience includes managing the default division of a national mortgage banking operation, improving the performance of the bankruptcy operation of a major law firm and building a multi-regional law firm handling default services for clients in multiple states. “Jim will be an excellent addition to the leadership of the Legal League 100,” says Michelle Garcia Gilbert, Vice Chairwoman of the Legal League 100 Advisory Council “His years of expertise and dedication to the industry will be essential in developing new and successful methods of furthering the education of not only our members but the industry at large.” As chairperson, DeLoach will be responsible for leading a team to create educational opportunities to keep the membership informed of best practices and changing regulations through webinars, bulletins, and more. He will also be responsible for providing servicers in-house training when requested.”I’m excited to be selected as the Chair of the Legal League 100 Education Services Subcommittee,” says DeLoach. “I am lucky to have a great group of attorneys to serve with me.”The Legal League 100 is committed to supporting the mortgage servicing industry through education, communication, relationship development, and advisory services. It supports its multifaceted membership by striving to be a leading force for industry standards, education, market research, and policy advocacy.“The Legal League 100 has a unique opportunity to educate our clients on a one-on-one basis, and we plan to develop new and innovative solutions to promote the success of our servicing partners,” says DeLoach.Editor’s Note: The Five Star Institute is the parent company for The Legal League 100, DS News, and DSNew.com Demand Propels Home Prices Upward 2 days ago October 20, 2016 1,994 Views Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Related Articles Home / Daily Dose / An Influx of Leadership at the Legal League 100 The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Investors Gain Ground in SFR Market Next: Carrington Hosts 6th Annual Golf Classic to Benefit Wounded Veterans Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Savelast_img read more

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Survey Says. . .

first_imgHome / Daily Dose / Survey Says. . . About Author: Joey Pizzolato Survey Says. . . in Daily Dose, Featured, Government, Headlines, News Servicers Navigate the Post-Pandemic World 2 days ago ARM Federal Housing and Finance Administration FHFA Freddie Mac FRM Mortgage Rates 2017-06-29 Joey Pizzolato Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Top 5 Cities With Greatest Home Purchase Power Next: Fannie Mae Makes the Grade Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 29, 2017 1,371 Views  Print This Post Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Subscribe Share Save Freddie Mac recently released its mortgage rate numbers for the week ending on June 29, reporting year-over-year gains. On a weekly basis, 30-year fixed, 15-year fixed, and 5-year treasury-indexed hybrid adjustable-rate mortgage fluctuated depending on the loan type. The 30-year fixed rate fell this week, down from 3.9 percent to 3.88 percent. This time last year the FRM averaged 3.48 percent. Similarly, the 15-year FRM was up compared to last year, at 3.17 percent—a figure unchanged from last week—compared to 2.78 percent. The 5-year ARM was the only loan type that saw an increase from last week’s rate of 3.14 percent to this week’s rate of 3.17 percent. According to the report, all three loan types have been on a primarily downward trend since April and average 0.5 point. Freddie Mac will release its next weekly mortgage rate index on Thursday, July 6, 2017. The FHFA reported that nationally, interest rates on conventional purchase-money mortgages decreased from April to May, according to several indicators of new mortgage contracts. At 3.87 percent for loans closed in late May, in April the National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was down 10 basis points from 3.97 percent. The average interest rate on all mortgage loans was 3.90 percent, which is down 8 basis points from 3.98 in April.Interest rates on 30-year, fixed-rate mortgages of $424,100 or less was down 7 basis points from 4.04 in April at 3.97 percent while the effective interest rate on all mortgage loans was 4.02 percent in May, according to the FHFA. This is down 8 basis points from 4.10 in April.  Effective interest rates account for the addition of initial fees and charges over the life of the mortgage.Up $3,900 from Aprils $311,600, the average loan amount for all loans was $315,500 in May. FHFA is set to release their June index Thursday, July 27, 2017. Tagged with: ARM Federal Housing and Finance Administration FHFA Freddie Mac FRM Mortgage Rates 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] The Best Markets For Residential Property Investors 2 days ago 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Delinquencies Reverse Course

first_imgHome / Daily Dose / Delinquencies Reverse Course The Best Markets For Residential Property Investors 2 days ago Black Knight Delinquencies Foreclosure Activity Foreclosure Starts Foreclosures hurricane harvey Hurricane Irma hurricanes Natural Disasters Serious Delinquencies 2018-05-23 David Wharton in Daily Dose, Featured, Foreclosure, Journal, Market Studies, News Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Delinquencies Reverse Course Tagged with: Black Knight Delinquencies Foreclosure Activity Foreclosure Starts Foreclosures hurricane harvey Hurricane Irma hurricanes Natural Disasters Serious Delinquencies The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: David Wharton Subscribe Servicers Navigate the Post-Pandemic World 2 days ago May 23, 2018 1,993 Views center_img Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Previous: Carrington Holding Company Expands Leadership Next: Montgomery Confirmed: Industry Comments on New FHA Commissioner Governmental Measures Target Expanded Access to Affordable Housing 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Mortgage delinquencies defied several trends in April, according to the latest First Look at the month’s mortgage performance data from Black Knight, Inc. April is typically a month that sees an increase in mortgage delinquencies. In fact, historically, delinquencies have increased during April 85 percent of the time, according to Black Knight. Not so for this year, however—in April 2018, Black Knight reports that mortgage delinquencies actually declined by 1.6 percent. That decrease “halted a seven-month trend of annual increases in the national delinquency rate.”So, what caused this break from the norm? Black Knight reports that the shift was largely driven by decreases in delinquencies among areas impacted by Hurricanes Harvey and Irma. Black Knight also tracked declining delinquencies in areas not affected by last year’s storms, although those decreases were not as noteworthy. Nor have the effects of 2017’s storm season vanished altogether: Black Knight reports that hurricane-impacted areas of Texas, Florida, and Georgia are still showing over 90,000 seriously delinquent mortgages attributed to the natural disasters.Foreclosure starts totaled 49,300 in April, down 5.4 percent overall and down 30 percent from March in hurricane-affected areas. The number of mortgages in active foreclosure also hit its lowest point since August 2006, according to Black Knight.The total loan delinquency rate, representing loans 30 or more days past due but not yet in foreclosure, was 3.67 percent in April, down 1.6 percent over March and 10.17 percent year-over-year. The total number of properties 30 days or more overdue but not in foreclosure was 1,885,000 in April, down 27,000 month-over-month and down 187,000 year-over-year.Black Knight will delve deeper into the April data in their full Mortgage Monitor report, which will be released on June 4. You can examine Black Knight’s previous Mortgage Monitor reports by clicking here.last_img read more

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How AI Will Change Mortgage Servicing

first_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha On Monday, Black Knight Inc. announced the acquisition of HeavyWater, an artificial intelligence and machine learning (AI/ML) provider for the financial services industry, through its custom-solution called AIVA. While it will initially be used as a platform to improve efficiencies in originations, Black Knight is looking at integrating its capabilities on the servicing side too. “We believe that AIVA will be an enterprise solution. Though we’re initially focusing on the origination side, we absolutely foresee AIVA being leveraged across our originations technology business, our servicing technology business, as well as our DNA group,” Rich Gagliano, President, Black Knight Originations Technologies Division, told DS News.Black Knight has already started rolling out the solution for its clients and plans to integrate AIVA over the next couple of months. The company has said that AIVA would be integrated into its premier solutions and also make the technology available to clients looking to deploy AI/ML within other parts of their organization to enhance efficiency, effectiveness, and accuracy.“With the cost of origination and servicing at, or near, all-time highs, AIVA is poised to help increase efficiencies for Black Knight clients,” said Anthony Jabbour, CEO, Black Knight. “AI/ML and neural network solutions are the future of delivering enhanced productivity and capabilities to our clients, and we are very excited about the potential HeavyWater has to offer.”HeavyWater’s AIVA solution leverages AI/ML to perform operational functions more efficiently and effectively than traditional methods, by reading, comprehending, and drawing conclusions based on context to mimic cognitive thinking.“The focus of HeavyWater and their expertise in AI/ML is the ability to take more mundane operations and use machine learning to extract information and assist the operations of underwriters, loan processors, and closers to move those components of the loan processing task along significantly faster,” Gagliano said.The Philadelphia-based HeavyWater has been providing AIVA to help lenders with traditionally manual activities such as verifying income, assets, and insurance coverage. Black Knight said that clients benefited from the accelerated processes and reduced expenses as AIVA gained experience and manual routines were automated.  “Our focus has always been on pioneering research in machine learning and artificial intelligence and applying it to the financial services industry,” said Soofi Safavi, CEO of HeavyWater. “By using sophisticated neural networks and ‘contextual knowledge’ to continuously improve AIVA’s learning and performance, we’ve helped our clients save money, increase efficiencies, and reduce turn time.” June 5, 2018 4,197 Views Tagged with: AI artificial intelligence Black Knight Lending Loan Processing Machine Learning ML mortgage Servicing Underwriting AI artificial intelligence Black Knight Lending Loan Processing Machine Learning ML mortgage Servicing Underwriting 2018-06-05 Radhika Ojha 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. Previous: Rent Price Trends—Industry Implications Next: Overvalued Markets Snapshot Home / Daily Dose / How AI Will Change Mortgage Servicing Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, Technology Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Related Articles How AI Will Change Mortgage Servicing The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Subscribelast_img read more

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Surviving and Thriving in a Low-Foreclosure REO Environment

first_img Auction.com EJ Kite REO 2018-06-11 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily June 11, 2018 2,272 Views E.J. Kite is VP, Client Performance Management at Auction.com. He has more than 20 years’ worth of information management experience with an emphasis on the ability to understand complex information challenges, providing solutions that ensure leadership has access to the right information to make informed decisions. Kite recently spoke with DS News about how the REO space has evolved in a low-foreclosure environment, and how the industry should prepare for any future turns of the economy.DS // What are some of the trends and challenges you’re having to deal with right now, or that you’re anticipating on the horizon?The volume of foreclosure assets has been steadily declining in recent years. The GSEs, for example, are disposing of their REO assets at a higher rate than they are acquiring them, so their inventory is constantly shrinking to low levels. Given that our economy is fluid and has periods of peaks and troughs, we want our clients to relish in these times of prosperity, but also prepare for times of recession. It’s hard to say when the economy could take a turn for better or worse, but we work to ensure our clients are ready for either and have a trusted partner to lead them in the right direction.  Even though there are fewer foreclosed assets on the market, Auction.com continues to grow in market share and is helping facilitate more sales for our clients earlier in the process. What’s unique about our marketplace is that we help our clients understand that there’s a big difference if you can dispose of an asset in foreclosure, as opposed to going through the process of eviction and having to deal with the principal and interest charges, HOA, and everything else as that occurs when a property goes into REO.DS // Are there any other ways you’ve had to adapt as the market has changed over the years?As an organization that has weathered both the best and most challenging economic times, we’re proud that we’re able to leverage our insight to educate our buyers and sellers on not only how to buy and sell property, but how to adapt with changing times. Newer and existing clients alike want to know how to maximize their strategies during the best of times. Likewise, in challenging times, we work to ensure our clients know their options and make the best of a difficult situation. DS // Are there any technological developments you are working with that you’re excited about?Our organization recently began conducting a massive enhancement and expansion of our technological infrastructure. These new solutions and expanded capabilities will enable me and my team to pull the necessary information we need for our clients much faster. Likewise, our clients, especially our servicer clients, will gain an even greater level of transparency into their asset and portfolio performance on a dynamic, daily basis. Additionally, we’re developing new ways to ensure an asset is priced properly by leveraging distressed auction historical performance and industry trends relative to the specific market. DS // What is something you wish more people understood about your job?We’ve become a disrupter in the distressed asset space. Our platform is home to assets that range from the ultra-affordable to homes well over $500,000 and multi-million dollar estates. As we better inform the buyer community of our offerings, they are coming to us ready to bid and, in turn, demonstrating to our clients, or sellers, why they should sell assets on our platform. This seamless interaction not only drives our day-to-day activity but is also a driving force in our technology enhancement initiative. Changing the way distressed assets are bought and sold is not only a game-changer for us, but also for the industry as a whole. Surviving and Thriving in a Low-Foreclosure REO Environment Share Save Subscribe The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Tagged with: Auction.com EJ Kite REO Demand Propels Home Prices Upward 2 days agocenter_img Previous: Freddie Mac Announces Securitization of Reperforming Loans Next: Renters vs. Buyers—Who Creates More Wealth? Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Surviving and Thriving in a Low-Foreclosure REO Environment Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, REO Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: David Whartonlast_img read more

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New Bill Encourages Homeownership Counseling

first_img A new measure passed by the House Financial Services Committee recently could help more low-income households achieve their dream of homeownership.The bipartisan legislation called the Housing Financial Literacy Act requires the U.S. Department of Housing and Urban Development (HUD) to provide a 25-basis-point discount in upfront Federal Housing Administration (FHA) single-family mortgage insurance premiums for first-time homebuyers who complete a housing counseling program to help them sustain homeownership.The bill was introduced by Rep. Joyce Beatty (D-OH) and Rep. Steve Stivers (R-OH).“Motivating first-time homebuyers to seek vital pre-purchase counseling and equipping them with the much-needed financial skills and tools to make informed financial decisions benefits their families, the surrounding neighborhood, and our entire economy,” Beatty said. “I am pleased to see my bill move one step closer to becoming law, and many thanks to my Democratic and Republican colleagues for their support.”The Bill still needs to be passed by the Senate before it goes to the President’s desk to get signed into law. According to a CNBC report, if passed, this legislation would allow first-time homebuyers, especially those from low- or moderate-income households, who opt for an FHA loan to pay less.Currently, borrowers who take an FHA loan are required to pay mortgage insurance to the agency as well as an upfront mortgage insurance premium, since these loans are often taken by buyers with low credit scores and pose an increased risk for lenders. Borrowers today, pay 1.75% of the base loan amount towards mortgage insurance.However, if the bill passes the Senate vote, they would have to pay only 1.5% of the base loan amount towards these charges, if they opt for housing counseling, the CNBC report indicated.”The Department of Housing and Urban Development, which FHA is part of, should make sure the counseling is designed well,” Pete Mills, SVP of Residential Policy for the MBA told CNBC. “Face-to-face would be better than online.” Sign up for DS News Daily Home / Daily Dose / New Bill Encourages Homeownership Counseling Tagged with: FHA Homebuyers Homeownership House Financial Services Committee Households HUD loans mortgage Subscribe Previous: Single-Family Zoning’s Impact on Climate Change Next: Vacancy Taxes: Pros and Cons FHA Homebuyers Homeownership House Financial Services Committee Households HUD loans mortgage 2019-07-24 Radhika Ojha 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 The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post About Author: Radhika Ojha Share 1Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago New Bill Encourages Homeownership Counseling Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago July 24, 2019 1,834 Views Related Articleslast_img read more

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DS5: ‘Leveraging Technology’ in the Housing Industry

first_img The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago In this week’s episode of DS5: Inside the Industry, the show is joined by Richard Ferguson, President of CBC Mortgage Company. Ferguson, who runs the company’s Chenoa Fund, discussed how his company is “leveraging technology,” especially during these quickly changing times. 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. Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Forbearance Activity Tracker Shows Uptick Next: Fannie Mae: Property Preservation Strategies Amid COVID-19 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Sign up for DS News Daily center_img The Best Markets For Residential Property Investors 2 days ago  Print This Post 2020-10-30 Christina Hughes Babb The Week Ahead: Nearing the Forbearance Exit 2 days ago DS5: ‘Leveraging Technology’ in the Housing Industry October 30, 2020 1,771 Views About Author: Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / DS5: ‘Leveraging Technology’ in the Housing Industry in Daily Dose, Featured, Media, News, Webcasts Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more