Long Island Ranked Nation’s Hottest Market, Florida Metros Struggle

first_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Long Island Ranked Nation’s Hottest Market, Florida Metros Struggle Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Foreclosure Home Sales Housing Supply Pro Teck 2014-02-05 Colin Robins Servicers Navigate the Post-Pandemic World 2 days ago Pro Teck Valuation Services released on Tuesday January’s Home Value Forecast (HVF), a measure of single family residential markets. Long Island was ranked the strongest market in the nation.”Long Island leads Home Value Forecast’s ranking as the hottest real estate market in the nation in our January Home Value Forecast,” said Tom O’Grady, CEO of Pro Teck Valuation Services.”Many factors account for Long Island’s strong market, including foreclosures making up an inconsequential 2.18 percent of sales and available housing inventory at only 3.63 months,” said O’Grady.Pro Teck’s HVF uses leading real estate market indicators to determine its rankings, such as sales/listing activity, prices, months of remaining inventory (MRI), days on market (DOM), sold-to-list price ratio, foreclosure, and REO activity.California ranked particularly well last month, with 6 of the 10 best markets residing in the Golden State.”In our January HVF top ten, California is again well represented … In particular, the Los Angeles market has seen a major shift, with sales prices up over 24 percent from the last rolling quarter,” O’Grady added.Snaring the perhaps dubious honor of worst market in the nation was Jacksonville, Florida, a region overwhelmingly rife with foreclosures. Compared with Long Island’s 3 percent of sales as foreclosures, Jacksonville currently has 81.15 percent of its sales as foreclosures.”Looking at the five year forecast, Jacksonville’s prices are not expected to get anywhere near its 2007 peak. Foreclosures will continue to hamper the market from returning to true market fundamentals for the foreseeable future,” O’Grady said. Previous: Morgan Stanley Announces $1.25B Settlement with FHFA Next: The Fate of Fannie and Freddie and the Importance of GSE Reform Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Long Island Ranked Nation’s Hottest Market, Florida Metros Strugglecenter_img The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Colin Robins in Daily Dose, Featured, Magazine, Market Studies, News, REO, State February 5, 2014 778 Views Share Save Demand Propels Home Prices Upward 2 days ago Subscribe Tagged with: Foreclosure Home Sales Housing Supply Pro Teck Related Articles  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Mortgage Performance Improves Across the Board For Eight National Banks

first_img Share Save  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Mortgage Performance Improves Across the Board For Eight National Banks Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Mortgage Performance Improves Across the Board For Eight National Banks The Week Ahead: Nearing the Forbearance Exit 2 days ago June 25, 2015 1,035 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily center_img Previous: CFPB Publishes Nearly 8,000 Consumer Complaint Narratives For the First Time Next: Home Value Forecast Examines Criteria for Institutional Investor Purchases Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: First-lien mortgage performance Foreclosures Loan Modifications OCC Office of the Comptroller of the Currency The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Approximately 94.2 percent of first-lien mortgages serviced by eight national banks were current and performing at the end of the first quarter, an improvement of more than a full percentage point from a year earlier, according to the Office of the Comptroller of the Currency’s Q1 2015 Quarterly Mortgage Metrics Report released Thursday.The eight national banks covered in the OCC’s report are (alphabetically) Bank of America, JPMorgan Chase, Citibank, HSBC, OneWest Bank, PNC, U.S. Bank, and Wells Fargo. The mortgages covered in the OCC’s report comprised 43.9 percent of all outstanding residential mortgages in the country, which total 22.7 million loans and approximately $3.8 trillion in unpaid principal balance.Mortgage performance improved across the board for the eight national banks in Q1. The share of performing first-lien mortgages improved from 93.1 percent up to 94.2 percent, the share of mortgages that were 30 to 59 days overdue declined by 7 percent year-over-year in Q1 down to 1.9 percent, and seriously delinquent mortgages (60 or more days overdue or held by bankrupt borrowers who are more than 30 days past due on their payments) made up 2.6 percent of the portfolio in Q1, a year-over-year decline by 16.4 percent, according to OCC.Foreclosure activity declined substantially year-over-year in Q1. The number of properties in the process of foreclosure as of the end of the quarter dropped down to 299,424, a decline of 30.8 percent from the same quarter a year earlier. The nearly 300,000 loans in the process of foreclosure during Q1 comprised about 1.3 percent of the loans in the portfolio. Foreclosure starts declined year-over-year by 8.6 percent in Q1, down to 83,058, while foreclosure completions dropped by 31.5 percent year-over-year down to 38,509. The OCC cites improved economic conditions and foreclosure prevention actions as the reason for the substantial decline in foreclosure activity during Q1.Home retention actions such as modifications, trial-period plans, and shorter-term payment plans totaled 188,816 in Q1, a decline of 20.6 from the same quarter a year earlier. More than 89 percent of loan modifications reduced monthly principal and interest payments, and more than 55 percent of modifications reduced monthly payments by 20 percent or more. Borrowers saved an average of $271 per month on mortgage payments with modifications in Q1, according to OCC. Meanwhile, home forfeiture actions such as completed foreclosures, short sales, and deeds-in-lieu of foreclosure totaled 47,430 during the quarter.According to OCC, out of the nearly 3.7 million modifications implemented from a seven-year period from January 1, 2008 through December 31, 2014, approximately 53 percent of them were active as of the end of Q1 2015 while 47 percent of them had exited the portfolio through either payment in full of the mortgage, involuntary liquidation, or a transfer to a servicer that was not part of the portfolio. Out of those 53 percent of active modifications at the end of Q1, totaling approximately 1.97 million mortgages, 72.2 percent of them were current and performing, 22.4 percent of the loans were delinquent, and 5.5 percent of them were in the process of foreclosure, the OCC reported. Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago First-lien mortgage performance Foreclosures Loan Modifications OCC Office of the Comptroller of the Currency 2015-06-25 Brian Honea 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. Subscribelast_img read more

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Treasury: Recap and Release Not Happening

first_img  Print This Post 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. February 25, 2016 3,362 Views in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Conservatorship Fannie Mae FHFA Freddie Mac Recap and Release Treasury 2016-02-25 Brian Honea Demand Propels Home Prices Upward 2 days ago Tagged with: Conservatorship Fannie Mae FHFA Freddie Mac Recap and Release Treasury Home / Daily Dose / Treasury: Recap and Release Not Happening Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Share Save Despite some speculation within the mortgage industry that a speech on February 18 in which FHFA Director Mel Watt expressed concern over the GSEs’ impending zero capital buffer, Treasury put to rest the notion that a policy change is on the horizon.Treasury counselor Antonio Weiss made it clear in October that a so-called “recap and release” for Fannie Mae and Freddie Mac, or a recapitalization and subsequent release from the FHFA’s conservatorship, was not imminent and would definitely not happen during the Obama Adminstration. Weiss contended that “The default must not be a return to a model that failed. . .we owe it to the American people to create the housing finance system they deserve.”In response to Watt’s speech and in particular to speculation about a potential policy change, a Treasury spokesperson told DS News in an email, “Taxpayers injected $188 billion into the GSEs to stabilize the housing market and lay the groundwork for our economic recovery. Director Watt’s remarks underscore the Administration’s consistent position regarding the GSEs’ conservatorship:  the best long-term solution is comprehensive housing finance reform. Until then, Fannie Mae and Freddie Mac will continue to rely on the $258 billion of taxpayer provided support to sustain market confidence.”Watt said in his speech at the Bipartisan Center in Washington, D.C., on February 18 that there were certain substantial risks and challenges associated with managing the conservatorship, which were “certain to escalate” as the conservatorship, now in its eighth year, continues. One of those risks was the capital buffer of Fannie Mae and Freddie Mac, which is required by the government to be reduced to zero by January 1, 2018. Watt said with Fannie Mae and Freddie Mac holding zero capital, a disruption in the housing market could result in the GSEs needing another draw on Treasury.“Director Watt’s remarks underscore the Administration’s consistent position regarding the GSEs’ conservatorship: the best long-term solution is comprehensive housing finance reform.”TreasuryRalph Axel, rates strategist for Bank of America, stated he believes that Watt’s speech will be the driver of policy change, calling the speech “unusual” and saying that it “opens the door to FHFA pursuing a recapitalization plan, eventually leading to the end of the conservatorships. . .Now that the FHFA has made the decision to tackle the undercapitalization issue at Fannie/Freddie, we think FHFA will continue to push in this direction and cite its statutory obligation as the driver.”Weiss argued back in October that a recap and release would be ineffective, however, because it would not increase access to the housing market for creditworthy borrowers, that taxpayers have not been fully “repaid” for the bailout (contrary to claims of private investors), and that a recap and release would drive up the cost of mortgages, since it would take decades for Fannie Mae and Freddie Mac to build safe and sound levels of capital to operate. Weiss claimed that those who believe a recap and release is a sustainable solution to the need for housing finance reform are “misguided.”In response to Weiss’ remarks, several civil rights groups—the National Community Reinvestment Coalition (NCRC), the National Association for the Advancement of Colored People (NAACP), and the League of United Latin American Citizens (LULAC) sent a letter to President Obama calling on the Administration to end the conservatorships and recapitalize Fannie Mae and Freddie Mac. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Treasury: Recap and Release Not Happening Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: What Effect Do Foreclosures Have on the Nation’s Existing-Home Supply? Next: Servicing Growth Drives Nationstar’s Q4 Rise in Earnings The Best Markets For Residential Property Investors 2 days agolast_img read more

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Ginnie Mae’s MBS Balance Continues to Climb

first_img in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago July 16, 2018 2,259 Views Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Subscribe Previous: Which Amazon HQ2 City Offers the Best Housing Opportunities? Next: Michigan’s Lingering Housing Crisis A recent press release from the Government National Mortgage Association, or Ginnie Mae, the organization’s total outstanding principal balance related to its mortgage-backed securities (MBS) has inched up to $1.971 trillion in June 2018, an $11 billion increase since the May 2018 reporting.Ginnie Mae is a wholly-owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie’s report reveals that MBS issuance thus far for Fiscal Year 2018 (FY 2018) totaled $323.337 billion, to the end of May. The $1.971 trillion total outstanding principal balance as of the end of June was up from $1.842 trillion in June 2017.Ginnie’s MBS issuance for June 2018 totaled $37 billion, including $35.330 billion of Ginnie Mae II MBS and $1.669 billion of Ginnie Mae I MBS. This also included $1.024 billion of loans for multifamily housing. That overall total is up slightly from May’s total of $35 billion, which included $33.431 billion of Ginnie Mae II MBS and $1.890 billion of Ginnie Mae I MBS.Per Ginnie’s statement, Ginnie Mae I MBS “are modified pass-through mortgage-backed securities on which registered holders receive separate principal and interest payments on each of their certificates.” Ginnie Mae I MBS include single-family, multifamily, manufactured home, and project construction loans.Ginnie Mae II MBS “are modified pass-through mortgage-backed securities for which registered holders receive an aggregate principal and interest payment from a central paying agent. An issuer may participate in the Ginnie Mae II MBS either by issuing custom, single-issuer pools or through participation in the issuance of multiple-issuer pools, which combine loans with similar characteristics.”There have been several noteworthy developments within Ginnie of late. Last month, Ginnie issued an All Participants Memorandum (APM) announcing the implementation of changes to pooling eligibility requirements for Department of Veteran Affairs’ (VA) insured or guaranteed mortgages under the “Loan Seasoning for Ginnie Mae Mortgage-Backed Securities,” provision. These changes affect security issuances on or after June 1, 2018, but do not otherwise affect the guarantee or composition of MBS issued before that date. You can read more about the changes by clicking here.In May, the White House announced that President Trump was nominating Michael R. Bright as the President of Ginnie. If confirmed, Bright would be the agency’s first permanent head since Ted Tozer stepped down in January 2017, wrapping up a seven-year tenure as head of Ginnie. Bright wouldn’t be new to Ginnie—he has served as Ginnie’s VP and COO since the middle of 2017. In that role, Bright manages Ginnie’s portfolio of mortgage-backed securities. You can read more about Bright’s background and qualifications by clicking here. Related Articles Tagged with: Ginnie Mae Government National Mortgage Association MBS Mortgage-Backed Securities Share Savecenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Ginnie Mae Government National Mortgage Association MBS Mortgage-Backed Securities 2018-07-16 Kristina Brewer Ginnie Mae’s MBS Balance Continues to Climb Home / Daily Dose / Ginnie Mae’s MBS Balance Continues to Climb The Best Markets For Residential Property Investors 2 days ago Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Kristina Brewer Demand Propels Home Prices Upward 2 days agolast_img read more

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Fed Chair Responds to Coronavirus Fears

first_img  Print This Post About Author: Seth Welborn Sign up for DS News Daily in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Fed Chair Responds to Coronavirus Fears Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago February 28, 2020 2,319 Views Previous: Recognizing Excellence in Servicing Next: The Week Ahead: An Eye on Mortgage Performance Servicers Navigate the Post-Pandemic World 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. In response to growing coronavirus fears, Federal Reserve Chair Jerome H. Powell has stated that the Fed will “act as appropriate to support the economy,” The New York Times reports.According to Powell , the “fundamentals of the U.S. economy remain strong.” He also noted that “the coronavirus poses evolving risks to economic activity” and said that the Fed “is closely monitoring developments and their implications for the economic outlook.”Powell’s statements come after James Bullard, President of the Federal Reserve Bank of St. Louis, noted that the Fed may be willing to cut rates in response.“We could cut rates if we got a global pandemic that actually develops with health effects that seem to be approaching the same level as seasonal influenza, but that doesn’t look like the baseline as of today,” Bullard said.In an article on MarketWatch, economist Peter Morici disagreed with the Fed’s plan. Dr. Morici, a business professor at the University of Maryland, stated that “calls for the Fed and other central banks to act quickly are misplaced at best and more likely downright dangerous.””The most important thing to recognize is that fiscal and monetary policy—a quick tax cut or jolt of infrastructure spending and Fed interest rate cuts and bond purchases—will be akin to passing out candles,” Morici said. “They won’t bring back electric power any quicker when the lines go down if utility companies don’t have enough trucks and crew. And shortages of what we need—not consumers and businesses unwilling to spend—is the coronavirus economic challenge.”With the economy already feeling its effects, the housing and mortgage industry has been impacted as well. A report by Markets Insider revealed the growing virus has caused mortgage rates to continue their downward slide. The report found the average rate for a 30-year fixed-rate mortgage hit 3.34% on Monday.The report says mortgage rates are impacted by the U.S. Treasury Yields, which have fallen as investors will “flock to so-called safe-haven assets” amid fears that the virus will slow global growth.On Tuesday, the yield on the 30-year US Treasury bond was still at 1.8%, a record low, while the 10-year yield fell to 1.37%, its lowest since 2012.Realtor.com’s Chief Economist Danielle Hale said that there is limited knowledge on the Coronavirus, as well as its “human and economic impacts.”“There have been periods when it seemed that the virus might be relatively contained as with the SARS outbreak many years ago,” Hale said. “New information suggests that COVID-19 may be more easily spread and thus will have more wide-spread impacts. But we are still learning, and as we learn more, markets will adjust to price-in this new information.” Tagged with: Federal Reserve Coronaviruscenter_img Fed Chair Responds to Coronavirus Fears Federal Reserve Coronavirus 2020-02-28 Seth Welborn 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 Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articleslast_img read more

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How the CARES Act May Impact Mortgage Servicers

first_imgHome / Daily Dose / How the CARES Act May Impact Mortgage Servicers  Print This Post Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Last week, President Donald Trump signed a $2 trillion stimulus package which will, among other things, allow homeowners hurt by the COVID-19 crisis to postpone mortgage payments for up to 12 months. Despite the efforts made by regulators and lawmakers, however, many in the industry believe that the stimulus may end up hurting the mortgage industry.According to CNN, analysts believe the Fed will step in soon, as after granting homeowners forbearance, servicers are still on the hook with investors to continue paying principal and interest on the mortgages, leading to servicers lacking the cash necessary to cover missed payments.”It would be complete contagion. It would turn into a housing crisis,” Jay Bray, CEO of Mr. Cooper, told CNN Business.Tendayi Kapfidze, Chief Economist, Lending Tree, said the payments to Americans will be kept to help people meeting financial obligations, especially the more than 3 million who filed for unemployment.“There is a big risk to our servicers from borrowers not sending in payments as they would still need to meet their obligations to investors,” Kapfidze said. “This is especially acute for non-bank lenders who do not have sufficient reserves in place. It was disappointing that the bill did not directly address this risk.”To address these concerns, and to introduce ways to mitigate the unintended consequences of moratoriums, the National Mortgage Servicing Association (NMSA), a nonpartisan organization driven by senior executive representation from the nation’s leading mortgage servicing organizations, announced a proposal to ensure that the up to $100 billion in liquidity necessary to provide payment relief for up to 12 million Ginnie Mae homeowners is secured.The NMSA released a proposal outlining their recommended steps in the light of some of these announced governmental programs.NMSA’s proposal outlines how Ginnie Mae programs, which include residential mortgage loans guaranteed by FHA, VA, and USDA, play a crucial role in the housing market by serving low-to-moderate income, communities of color, first-time homebuyers, and rural and veteran mortgage borrowers who typically do not qualify for conforming or bank loans and may be especially vulnerable during periods of economic stress, including the present COVID-19 pandemic.To assist with liquidity issues, Ginnie Mae has launcheda Pass-Through Assistance Program (PTAP). Lenders with a P&I shortfall may request Ginnie Mae advance the difference between available funds and the scheduled payment to investors.“This PTAP will be effective immediately upon publication of the APM for Single Family program issuers, with corresponding changes made to Ginnie Mae’s MBS Guide in due course,” a release says. “We anticipate publishing PTAP terms for HMBS (reverse mortgage) and Multifamily issuers shortly thereafter.” Servicers Navigate the Post-Pandemic World 2 days ago 2020-03-30 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Government, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago March 30, 2020 2,217 Views Share 2Save How the CARES Act May Impact Mortgage Servicers Demand Propels Home Prices Upward 2 days ago Previous: FHFA Director Discusses Housing Recovery Next: Local Governments Responding to Increased Default Risk Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

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Low Foreclosure Rates May Obscure ‘Market Reality’

first_img The Best Markets For Residential Property Investors 2 days ago February 11, 2021 1,944 Views Previous: Millennial and Gen Z Savings Priorities Next: Decreased Delinquencies Only Tell ‘Part of the Story’  Print This Post Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago 2021-02-11 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles About Author: Veronica Bradley Low Foreclosure Rates May Obscure ‘Market Reality’ Subscribe The Best Markets For Residential Property Investors 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 in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Low Foreclosure Rates May Obscure ‘Market Reality’ Veronica Bradley has covered the consumer packaged goods industry, the tech industry, the healthcare industry, and a few other industries that impact people’s daily lives. When she isn’t researching and writing, she moonlights as an amateur accountant and bookkeeper for a small family brewpub, because unlike most writers, she isn’t afraid of numbers. Low numbers are attributed to CARES Act protections, but some states have reported an increase in foreclosure starts.Foreclosure activity is down—way down—but market perception isn’t market reality given the factors that currently prevent completed foreclosures (REOs), according to the January 2021 U.S. Foreclosure Market Report from ATTOM Data Solutions.At the time of the report, default notices, scheduled auctions, and bank repossessions—all types of foreclosure filings—were down 11% from December 2020 and down 80% from January 2020.One of the major reasons foreclosure numbers are low is the continuation of the CARES Act mortgage forbearance program and the moratorium on government-backed loans.”January foreclosure activity declined at least in part due to the Biden Administration’s decision to continue the foreclosure moratorium on government-backed loans through the end of March,” said Rick Sharga, RealtyTrac EVP. “The moratorium and CARES Act mortgage forbearance program have effectively prevented millions of seriously delinquent loans from entering the foreclosure process. But it’s important to remember that the number of foreclosures we’re seeing right now doesn’t reflect market reality—and that’s something we’ll need to deal with once these government programs expire.”Foreclosure completions are also on the decline. In January 2021, REOs were down 28% from the previous month. And compared to the previous January, REOs dropped 83%, which continued a 13-year trend of declining annual REOs.Looking at the 220 metropolitan statistical areas with at least 200,000 people and at least 100 foreclosure starts in January 2021, double-digit annual declined were reported in Chicago (down 87%); New York (down 85%); Los Angeles (down 80%); Dallas (down 77%); and Houston (down 69%).Of course, not every city or state saw a decline. Washington, Virginia, North Carolina, Massachusetts, and Ohio all countered the national trend with increases in foreclosure starts. Seventeen states in total reported increases.Read the report by ATTOM Data Solutions for more information. Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more

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Thousands attend parades in Donegal

first_img Facebook Pinterest Previous articleCalls for a new investigation into the 1981 murder of woman in DerryNext articleAnger as Derry barracks excluded from gifting process News Highland Facebook Twitter Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published Help sought in search for missing 27 year old in Letterkenny Twitter NPHET ‘positive’ on easing restrictions – Donnelly Calls for maternity restrictions to be lifted at LUH By News Highland – March 17, 2011 center_img Thousands attend parades in Donegal Google+ Pinterest RELATED ARTICLESMORE FROM AUTHOR 448 new cases of Covid 19 reported today WhatsApp WhatsApp News Google+ Thousands of people have been attending St Patrick’s Day Parades across Donegal, with the largest taking place in Letterkenny.The overall prize at the Letterkenny Parade was won by Lurgybrack Open Farm, the best float award went to Encore Performing Arts Academy, and the Letterkenny 400 Historical Prize sponsiored by the Town Council went to Letterkenny Gaels.The Sport Award went to St Eunans, the Youth Award to Letterkenny Commmunity Gymnastics Club, the Dabce Award to Fox and Crew, the Community Award to Letterkenny CDP, the Best Band Award to Fanad Accordian Band and the Carnival Award to Port na Failte.last_img read more

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Donegal IFA deny that potatoes are being sold at excessive prices

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleInquest into the death of Donegal born journalist put backNext articleGroup of children rescued in Portnoo after getting into difficulty swimming News Highland RELATED ARTICLESMORE FROM AUTHOR Google+ Twitter The Irish Farmers Association in Donegal are denying that potatoes are being sold for more than they should be.It’s been claimed today that a bag of potatoes weighing 7lbs cost 5 euro, that’s at least 2 euro more than the same bag could be bought for in most shops.It was also claimed that these excessive prices could put the public off buying directly from farmers.But Charlie Doherty from the Donegal IFA, says this must have been an isolated case..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/08/char530.mp3[/podcast] Pinterest Donegal IFA deny that potatoes are being sold at excessive prices Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey By News Highland – August 2, 2012 WhatsApp Newscenter_img Guidelines for reopening of hospitality sector published Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Calls for maternity restrictions to be lifted at LUH Facebook Pinterest Twitter WhatsApp Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

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IBAL confirms Letterkenny will be included in 2014 litter league

first_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Guidelines for reopening of hospitality sector published Google+ By News Highland – May 6, 2014 Twitter Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Google+ Irish Business Against Litter says there are concerns at what effect the abolition of town councils will have on cleanliness in Irish towns, after 80% of towns included in last year’s litter league were found to be clean to European norms.That list included, Letterkenny, which IBAL has confirmed will be included in this years’s league which was launched this morning.For 2014, IBAL is expanding the inspections to include important link roads between towns, including the road from Lifford to Letterkenny.Spokesperson Conor Horgan says it makes sense to do so………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/05/iballaunch2014.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey center_img RELATED ARTICLESMORE FROM AUTHOR WhatsApp News Pinterest Calls for maternity restrictions to be lifted at LUH Previous articleICSA invites candidates to debate farmers’ issuesNext articleDonegal’s top earning councillor made 92K over the last two years News Highland Pinterest Facebook IBAL confirms Letterkenny will be included in 2014 litter league Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

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