Foreclosure Inventory Continues to Decline in April

first_img About Author: Colin Robins CoreLogic released its National Foreclosure Report, looking at data as of the end of April 2014. The company reported that completed foreclosures in April totaled 46,000, down 0.4 percent from March and down 18 percent year-over-year.Before the decline in the housing market, completed foreclosures per month totaled 21,000 between 2000 and 2006.CoreLogic found that foreclosure inventory fell in April as well, down 4.7 percent month-over-month and down 35 percent year-over-year. As of April 2014, foreclosure inventory stood at 694,000, down considerably from 1.1 million in April 2013.The rate of mortgages that were seriously delinquent was 4.5 percent, the first time delinquency rates have been this low since September 2008, according to CoreLogic. The foreclosure rate also experienced a similar trajectory—the rate of foreclosures is back to November 2008 levels.”Over the past 12 months, completed foreclosures fell to 599,000, the lowest level since the Great Recession began in 2007. At the current pace of completed foreclosures, and given the current foreclosure inventory, it will take 14 months to move all of the foreclosed inventory through the pipeline,” said Sam Khater, deputy chief economist for CoreLogic.The inventory of foreclosed properties has experienced 19 months of year-over-year, double-digit declines, and 30 straight months of overall decline.The 12-month sum of completed foreclosures is at its lowest point since December 2007. Completed foreclosures have declined every month for 28 months.”We have now registered two and a half years of continuous decreases in the number of homeowners who are in some stage of the foreclosure process. This consistent decline means fewer Americans are experiencing the distress of delinquency and default,” said Anand Nallathambi, president and CEO of CoreLogic.He continued, “The recovery may be slow, but it is steady.”According to CoreLogic, 34 states show declines of more than 30 percent in year-over-year foreclosure inventory. Arizona, California, Minnesota, and Utah are experiencing more than 50 percent year-over-year declines. Additionally, 35 states have an inventory of foreclosed homes lower than the national average.The five states with the highest foreclosure inventory as a percentage of mortgaged homes include: New Jersey (6.0 percent), Florida (5.4 percent), New York (4.6 percent), Hawaii (3.1 percent), and Maine (3.0 percent).States with the lowest foreclosure inventory as a percentage of mortgaged homes include: Alaska (0.4 percent), Wyoming (0.4 percent), North Dakota (0.5 percent), Nebraska (0.5 percent), and Minnesota (0.5 percent).The states with the highest number of completed foreclosures during the past 12 months were Florida (121,000), Michigan (46,000), Texas (38,000), California (33,000), and Georgia (32,000). Demand Propels Home Prices Upward 2 days ago Share Save May 29, 2014 634 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago CoreLogic Foreclosure Seriously Delinquent Mortgages 2014-05-29 Colin Robins in Daily Dose, Featured, Headlines, Market Studies, News 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. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: CoreLogic Foreclosure Seriously Delinquent Mortgages Related Articles Servicers Navigate the Post-Pandemic World 2 days agocenter_img  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Foreclosure Inventory Continues to Decline in April Previous: California Man Sentenced to 51 Months for Fraud Next: Companies Team Up to Create Waterfall Loss Mitigation Program Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Foreclosure Inventory Continues to Decline in Aprillast_img read more

Freddie Mac Prices Fourth Structured Credit-Risk Offering of 2015

first_img Freddie Mac has announced on Tuesday the pricing of its fourth Structured Agency Credit Risk (STACR) debt notes offering for 2015 at $425.6 million, pending market conditions.With the latest offering, STACR Series 2015-HQ2, Freddie Mac is rating the M-3 bond and issuing 100 basis points of first loss. Freddie Mac holds the senior loss risk in the capital structure and also holds a portion of the risk in the Class M-1, M-2, and M-3, and the first-loss Class B tranche. STACR HQ2 is fixed severity, not actual loss.STACR Series 2015 HQ-2 consists of a reference pool of single-family mortgages with an unpaid principal balance of more than $30.3 billion. The mortgages in the reference pool were acquired by Freddie Mac from the first through third quarters in 2013 and have loan-to-value ratios ranging from 80 to 95 percent. The loans in the pool are 30-year fixed-rate single-family mortgage loans.”This is our fourth STACR offering out of an expected six to eight this year,” said Mike Reynolds, Freddie Mac vice president of Credit Risk Transfer. “STACR has gained momentum in the market so far this year, and we hope to continue to see new investor participation in each transaction.”Co-lead managers and joint bookrunners for the STACR offering will be Barclays and Nomura. Co-managers will be BNP Paribas and Morgan Stanley. Multi-Bank Securities will be a group selling member for the deal.The issuance of STACR Series 2015-HQ2 comes one month after Freddie Mac announced its intention to sell its third STACR debt notes offering, STACR Series 2015-DNA1, at $1.01 billion (an increase from $720 million due to market demand). That STACR offering represented a couple of first for Freddie Mac: It was the enterprise’s first transaction in which losses will be allocated based on actual losses realized on related reference obligations instead of using a fixed severity approach to allocate losses. In addition, that STACR offering represented the first time the first-loss Class B tranche will be issued as book-entry notes.The STACR offering priced on Tuesday is the GSE’s fourth this year and 13th overall. Freddie Mac began the STACR program in the second half of 2013 as part of the Enterprise’s goal of reducing risk to taxpayers by increasing private capital’s role in the mortgage market. Freddie Mac has laid off a substantial portion of credit risk for more than $266 billion in unpaid balances on single-family mortgages through STACR transactions, according to the GSE. The enterprise has issued $8.8 billion in STACR bonds to date, representing reference pools of $292.6 billion through 13 issuances. Related Articles Subscribe in Daily Dose, Featured, News, Secondary Market Home / Daily Dose / Freddie Mac Prices Fourth Structured Credit-Risk Offering of 2015 Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: DS News Webcast: Wednesday 5/26/2015 Next: Fed Survey Finds Increased Optimism for Future Financial Prospects Freddie Mac Single-Family Mortgage Loans STACR Program Structured Agency Credit Risk 2015-05-27 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. Demand Propels Home Prices Upward 2 days ago Tagged with: Freddie Mac Single-Family Mortgage Loans STACR Program Structured Agency Credit Riskcenter_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea May 27, 2015 933 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Freddie Mac Prices Fourth Structured Credit-Risk Offering of 2015 Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

The Week Ahead: The Domino Effect of the Supply Shortage

first_img Related Articles in Daily Dose, Featured, Market Studies, News Share Save Servicers Navigate the Post-Pandemic World 2 days ago May 22, 2016 1,145 Views The Best Markets For Residential Property Investors 2 days ago Housing Supply New Home Sales 2016-05-22 Brian Honea The Week Ahead: The Domino Effect of the Supply Shortage Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Tagged with: Housing Supply New Home Sales Home / Daily Dose / The Week Ahead: The Domino Effect of the Supply Shortage  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago It’s no secret that inventory is on the scarce side in the housing market, which is causing a domino effect of issues for homebuyers trying to purchase a home. The mortgage industry is now anticipating where new single-family home sales will fall for April after coming up short the month before. The National Association of Realtors (NAR) will release the new home sales report for April on Tuesday, May 24.The shortage of existing homes on the market, which is now at 44 months and counting, according to the NAR’s existing-home sales report released last week, could have an adverse affect on new home sales.”If there is a shortage of existing homes, that’s where brand new homebuyers come from—selling existing homes,” said David Crowe, former chief economist of the National Association of Home Builders. “If the existing homeowners are unwilling to sell for a variety of reasons, then they basically are not released to buy the new homes. The new home market is waiting on existing homeowners selling their current home to build more new homes.”What will the new home sales report for April bring? Will the shortage of existing homes continue to pull down new home sales, or will the low mortgage rates give new home sales a boost?In March, new home sales declined by 1.5 percent down to an annual rate of about 511,000, driven by a large decline in the West (23.6 percent). The median sales price of a new home declined year-over-year in March by 1.8 percent to about $288,000.GDP: Friday, May 27The Bureau of Economic Analysis will release the second of three estimates for the nation’s first quarter GDP growth on Friday, May 27. In the advance estimate for the first quarter released in late April, the BEA reported GDP growth to be a weak 0.5 percent. GDP growth has been weak for the last several first quarters; last year, it came in at 0.7 percent.Housing experts have downwardly revised their economic forecasts for the full year of 2016. Last week, Fannie Mae announced its forecast for GDP growth for the year was now 1.7 percent, down from 1.9 percent the previous month and from 2.2 percent at the beginning of the year. Also last week, Freddie Mac revised its GDP forecast for the full year from 2.0 percent down to 1.8 percent.Here is the lineup for the week:Tuesday, May 24New Home Sales, National Association of Realtors, 10 a.m. ESTWednesday, May 25House Price Index, Federal Housing Finance Agency, 9 a.m. ESTThursday, May 26Jobless Claims, Bureau of Labor Statistics, 8:30 a.m. ESTPending Home Sales Index, National Association of Realtors, 10 a.m. ESTFriday, May 27GDP, Second first quarter estimate, Bureau of Economic Analysis, 8:30 a.m. EST 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. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago Previous: Counsel’s Corner: Reversal of the “Free House” Decision Next: DS News Webcast: Monday 5/23/2016 Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

Come Together

first_img Share Save 2017-06-21 Denis Brosnan Demand Propels Home Prices Upward 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, Government, News Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Denis Brosnan is the President and CEO of Dallas-based DIMONT, a provider of specialty insurance and loan administration services for the residential and commercial financial industries in the United States. Additional information is available at www.dimont.com. About Author: Denis Brosnan  Print This Post Despite the fact that many of the nation’s largest banks saw lower profits in the first quarter—compared to the fourth quarter of 2016—and that mortgage demand fell during the same period, industry surveys show lender confidence is high that 2017 will be a good year for home finance.Setting the StagePart of the uptick in lender confidence may be due to the overall better performance they saw last year. According to a Mortgage Bankers Association (MBA) survey, independent mortgage banks and mortgage subsidiaries of chartered banks made $1,346 per loan on average in 2016, up from $1,189 per loan in 2015. While that’s still less than what banks were earning before the crash, the trend is positive.On the servicing side, the trends are mixed. First, loans at least 30 days delinquent ticked down slightly in January, and seriously delinquent loans—90 days or more overdue—have fallen to just 2.5 percent of all loans. On the negative side, the cost to service seriously delinquent loans has skyrocketed, and servicers are warned not to consider shortcuts. In its most recent Fair Lending Report to Congress, the Consumer Financial Protection Bureau (CFPB) indicated that it will continue to scrutinize mortgage servicers.In its report, the CFPB told legislators it would watch to see if delinquent borrowers were being discriminated against due to their race, ethnicity, age, or gender as they sought a workout solution with their servicer.Finally—and this impacts both lenders and servicers—the cost of hiring and training expert personnel required in the mortgage industry has risen. The MBA found that personnel expenses averaged $4,801 per loan in 2016, up from $4,699 per loan in 2015. While the industry seems confident that we’re seeing a strong recovery, even the most successful servicers are still working to increase efficiencies and margins while controlling costs. To that end, servicers may want to pursue a strategy that bundles previously disaggregated solutions—particularly collateral disposition, investor claims, and loss analysis. The Costs of a Post-crisis EnvironmentEvery analysis of industry operating costs and performance over the past decade revealed the same significant costs. These include the costs of acquiring servicing rights, personnel, technology, support costs (risk, finance, compliance, HR), overhead (occupancy, office of the CEO), as well as a small portion of the budget dedicated to ancillary services (primarily vendor payments and professional fees). But since the crash, compliance costs have taken a much larger share of the servicer’s budget, and the costs of ancillary services—those functions typically outsourced to third-party vendors—have risen significantly.A large list of new regulatory and investor requirements post-crash has contributed to the increase in compliance costs. The cost of noncompliance has risen so steeply and the regulator focus on the industry has been so intense, that servicers have been forced to spend more money in this area.On the vendor side, once the CFPB made it clear that the servicer would be responsible for any compliance violation allegedly perpetrated by any of its vendors, the cost of vendor management went through the roof. One area in which vendor mistakes can seriously impact the servicer’s compliance risk exposure is the collateral disposition or “conveyance” process. This currently disaggregated basket of services includes property inspection and preservation, hazard claims adjustment, and investor claims processing. Fortunately for servicers, these unique functions, which are generally outsourced by the servicer to a variety of vendors, can now become part of an aggregated specialty services strategy.A New Kind of Bundled ServiceThe mortgage industry was introduced to bundled services decades ago when the industry’s largest title companies began offering menus of component back-office and field services generally tied to title and other products. Many offered these services in discounted bundles for servicers that committed to title or technology purchases. During the height of the foreclosure crisis, buying bundled default-related services helped lenders save money at a time when they were spending more on these services than ever before.Unfortunately, not every servicer was satisfied with the quality of the underlying services, enabling smaller specialty providers to continue to do well despite intense competition from the large title company-based outsourcers. Finally, as regulatory scrutiny and the cost of service for these outsourcers began to climb—against an overall drop in default volumes post-crisis, to boot—the economics of these arrangements became less appealing. A specialty services supplier, in contrast, focuses on quality first, differentiating itself from a categorical outsourcer. The larger specialty providers have also responded to the erosion of quality and price concessions on the part of title company-based outsourcers by offering suites of services that complement each other without the requirement that the lender purchase a complete bundle in order to achieve cost savings. Rather than holding servicers hostage for lower costs, specialty service providers build synergies that provide greater efficiencies to servicers without compromising quality standards. The Perfect FitTraditionally, servicers have worked with a variety of vendors as loans moved through the default process into foreclosure and then for REO disposition or conveyance. While some functions made sense to bundle, most were handled by individual specialists. The notable exception was asset management, where a single large firm would handle property preservation, REO valuation, marketing, and disposition.It has now become possible for servicers to pursue a combined-services approach for a number of functions in the conveyance process to effectuate “collateral loss mitigation.” These services include:Hazard Claims ProcessingFiling claims with hazard insurance carriers may seem straightforward—and can be—unless the property has a government-insured mortgage loan attached to it, in which case it becomes specialized work. This requires a well-trained staff, advanced technology, and the ability to collaborate closely with servicers and their other service providers, such as property preservation companies. When performed properly, servicers can reduce their loss severity significantly by filing hazard claims properly and resolving claims within statutory timeframes. This work also requires the company to employ licensed public adjusters, which puts it beyond the reach of most servicers and is therefore often outsourced.Investor ClaimsLosses that the servicer incurs during the servicing of FHA-insured loans can be claimed from HUD, reimbursing the servicer for certain expenses and reducing overall loss severity. This can mean reimbursements for title fees, attorney fees, property preservation costs, and unpaid principal balance, but only if the party filing the claims knows how much can be claimed and does so within the required timelines.Fannie Mae and Freddie Mac also offer a claims process to servicers which can return funds to the services as long as they file the claims within stipulated guidelines.Servicers who choose to handle their own investor claims process encounter significant technology and staffing expenses, making this area a prime candidate for outsourcing to a specialty services provider. Private Mortgage Insurance ClaimsThe vendor that the servicer chooses to file investor claims will also likely provide assistance with filing claims with private mortgage insurance companies. These firms have strict requirements that can cost servicers money if they fail to follow the guidelines when filing.The Benefits of BundlingA combined collateral loss mitigation strategy offers all of the benefits that servicers have come to associate with bundled services while ensuring consistent, high-quality outcomes throughout: Faster processingBy combining the processing of a number of related services on the same, advanced technology platform, a specialty service provider can provide quality outcomes faster than a multisiloed approach. For example, although specific results will vary by servicer, we have seen a significant reduction in processing time when combining aspects of the hazard claims adjustment and investor claims management processes. In some cases, as many as 10 days are shaved off the overall claims process, saving clients hundreds of dollars per property on portfolios of several thousand loans, while also decreasing their risk of interest curtailments and other negative outcomes.Lower vendor management costsThe costs of finding a vendor and performing due diligence on the proposed partner are significant and can add up to a large expense even before a service is ordered. Managing the vendor on a day-to-day basis, scoring the vendor’s performance, and then performing periodic audits of the vendor’s operation are time consuming and expensive for the servicer. Every additional function that can be performed by an existing vendor reduces the overall vendor management costs.As servicers continue to formulate their responses to the post-crisis business environment, the imperative to reduce costs while ensuring quality outcomes remains top of mind. Due to the changing landscape, servicers now find that opportunities exist to outsource complementary services to specialty service providers, thereby enjoying the economic benefits of a multiline relationship without compromising quality. Particularly in the area of conveyance-related services, servicers have the opportunity to save money while improving effectiveness by partnering with a provider that can bundle hazard claims adjustment with investor and private mortgage insurance claims services. June 21, 2017 1,264 Views 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 Home / Daily Dose / Come Together Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Agencies Release CRA-Eligible List Next: How do Mortgage Industry CEOs Stack Up Against Others? Servicers Navigate the Post-Pandemic World 2 days ago Come Together The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

San Diego Needs a Lot More Housing Than Planned

first_imgSubscribe Servicers Navigate the Post-Pandemic World 2 days ago San Diego Needs a Lot More Housing Than Planned  Print This Post The Best Markets For Residential Property Investors 2 days ago With housing shortages plaguing markets around the country, there’s no surprise that San Diego is similarly afflicted. As it turns out, however, “America’s Finest City” is going to need to start rolling out a lot more housing than planned in order to keep up with state mandates.As reported by PublicCEO.com, officials from throughout county convened for a meeting of the San Diego Association of Governments (SANDAG), which describes itself as “the forum for regional decision-making for the San Diego region.” At the meeting, local officials were updated on state estimates for how much new housing the region would need to produce over the next decade—and it apparently caught some attendees by surprise.According to the California state government’s estimates, the San Diego region will need to greenlight 171,685 new home permits in order to meet state housing targets between 2021 and 2028. That works out to more than 21,000 units each year for the county, which is almost three times what has been permitted during the past seven years.California’s state government is increasingly serious about those numbers. According to the California Department of Housing and Community Development (HCD), only 13 cities (2.4 percent of the total) met their full goals last year. Or, put another way, 97.6 percent of cities failed to meet their full goals. Those goals are mandated by California’s Regional Housing Needs Allocation and Housing Elements (RHNA) rules, which were implemented in 1969 and require “that all local governments (cities and counties) adequately plan to meet the housing needs of everyone in the community.” Moreover, 70 percent of California cities failed to meet their housing goals for any income level. (Counterintuitively, Beverly Hills was one of the few California cities to not only meet but well exceed their goals in 2017.)California has been exploring options to try and keep up with housing demand, including relaxing regulations about building new units near transit stops, and the topic has been a hot-button issue for the state’s candidates for governor. Still, many of the local San Diego officials at the SANDAG meeting weren’t happy about the state’s mandated housing numbers.San Diego City Councilwoman Lorie Zapf criticized environmental regulations stipulated by the California Environmental Quality Act, which Zapf said complicated and slowed the process of bringing new homes into the market. “If you could actually help streamline with CEQA reform, not allowing 15 percent of construction workers to work 100 percent of the jobs when we’re building taxpayer-funded projects, things like that would go a long way to allow … mayors from all 18 cities to actually get housing done.”“We all love building things,” said San Marcos Mayor Jim Desmond. “What you’re hearing today is the venting that we get when we’re sitting at the dais and we’re trying to let you know that it’s not as easy as [having] someone from the state [come] down here and [say], ‘You have to build all these or we will penalize you.’”HCD Director Ben Metcalf responded to the criticisms by saying, “I do hear that you are out there on the front lines trying to deal with really competing political forces, trying to do the right thing every day.”A 2016 study by the McKinsey Global Institute found that housing shortages in California cost the state between $143 billion and $233 billion annually. 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 Home / Daily Dose / San Diego Needs a Lot More Housing Than Planned Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Journal, News Previous: Builder Confidence on Firm Foundations Next: Making Mortgage Forgiveness Tax Relief Permanent Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: David Wharton California Department of Housing and Community Development California Environmental Quality Act california housing crisis Housing Demand inventory shortages Regional Housing Needs Allocation and Housing Elements san diego San Diego Association of Governments 2018-03-15 David Wharton Related Articles March 15, 2018 2,717 Views Servicers Navigate the Post-Pandemic World 2 days ago Share Save Sign up for DS News Daily Tagged with: California Department of Housing and Community Development California Environmental Quality Act california housing crisis Housing Demand inventory shortages Regional Housing Needs Allocation and Housing Elements san diego San Diego Association of Governmentslast_img read more

What’s Driving Delinquency Rates?

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Home / Daily Dose / What’s Driving Delinquency Rates? Previous: Google Pledges $1 Billion to Fund Affordable Housing. Next: Shifting Trends in Housing Investment June 20, 2019 1,543 Views Demand Propels Home Prices Upward 2 days ago Related Articles Share Save About Author: Seth Welborn 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. Demand Propels Home Prices Upward 2 days ago Delinquency rates have fallen for the third consecutive month, according to the latest First Look at May’s mortgage performance data from Black Knight. Black Knight states that the national delinquency rate fell to another record low in May, at 3.36%, which is the lowest point since 2000.Black Knight’s data also reveals that May saw the lowest number of foreclosure starts in 18 years, at around 39,000, while the number of loans in active foreclosure fell to a more than 13-year low. The total non-current rate has fallen to to its lowest point since early 2005, driven by improvements in overall delinquencies.Despite the record lows nationally, many southern states are still experiencing high rates of non-current loans. Mississippi leads with a non-current percentage of 9.86%, followed by Louisiana at 7.34% and Alabama at 6.37%. Mississippi, Louisiana, and Alabama also lead 90+ days delinquent loan volume.California holds the lowest percentage of non-current loans, at 2.15%, followed by Idaho and Washington.In March 2019, CoreLogic found that 4% of mortgages were delinquent 30 days or more, which is just a 0.3% decline year-over-year and unchanged from February.According to CoreLogic: the largest annual gains in serious delinquency rates came in metros heavily affected by hurricanes. Panama City, Florida, saw a 1.9% increase, and Albany, Georgia, had a 1% increase. CoreLogic states that 166 U.S. metro areas in March posted small increases in overall delinquency rates.”Delinquency rates and foreclosures continue to drop through March and should decline further in the months ahead barring any serious dislocations from recent flooding in the mid-west or a severe Atlantic hurricane and/or wildfire season on the coasts,” said Frank Martell, President and CEO of CoreLogic.Black Knight will release its full Mortgage Monitor report on July 1. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily center_img in Daily Dose, Featured, Foreclosure, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe What’s Driving Delinquency Rates? Servicers Navigate the Post-Pandemic World 2 days ago Delinquency Foreclosure loans 2019-06-20 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Delinquency Foreclosure loans Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

DS5: Zoning Shifts and Adapting to Change

first_img Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Media, News, Webcasts Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Tagged with: Coronavirus DS5 HOUSING Inventory Zoning DS5: Zoning Shifts and Adapting to Change Home / Daily Dose / DS5: Zoning Shifts and Adapting to Change Servicers Navigate the Post-Pandemic World 2 days ago The newest episode of DS5: Inside the Industry features exclusive interviews with Suzy Lindblom, COO for Planet Home Lending and a continuation of our discussion with ServiceMac CEO Robert Caruso.Suzy Lindblom will tell us about the biggest challenges lenders are currently facing, as well as providing insights into ongoing efforts in some regions to move away from single-family zoning.After that, the second half of our interview with Caruso will delve into why subservicers can be critical during times of unpredictable change, as well as which areas of technology development and innovation should servicers be prioritizing.You can watch the full episode here or at the embed below. Previous: Treasury, HUD Address Mortgage Servicer Liquidity Next: Foreclosure Activity Could Remain Low The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Sign up for DS News Daily center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago April 15, 2020 1,152 Views Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post About Author: Seth Welborn Related Articles Coronavirus DS5 HOUSING Inventory Zoning 2020-04-15 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Highland’s Farming News – Thursday 11th June

first_imgA 15 Minute Programme presented by Chris Ashmore every Thursday at 7.05pm highlighting all that’s happening in the farming community.Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/06/Farming-31.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Google+ Facebook Previous articleO’Reilly says Donegal will have to be at their best to beat ArmaghNext articleOrange is the New Black season 4 now available in Ireland admin Guidelines for reopening of hospitality sector published Google+ Facebook Calls for maternity restrictions to be lifted at LUH WhatsApp Twitter Twitter RELATED ARTICLESMORE FROM AUTHORcenter_img Pinterest WhatsApp Pinterest Three factors driving Donegal housing market – Robinson Nine Til Noon Show – Listen back to Wednesday’s Programme NewsPlayback By admin – June 11, 2015 LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Highland’s Farming News – Thursday 11th June Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more

Phillipa accused “accepts his responsibility” court told

first_imgNews Guidelines for reopening of hospitality sector published Facebook Google+ Need for issues with Mica redress scheme to be addressed raised in Seanad also Calls for maternity restrictions to be lifted at LUH WhatsApp Pinterest Previous articleFianna Fail confirm its giving up seat for St Patrick’s Day tripNext articleDoherty calls for protection for distressed mortgage holders News Highland Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Phillipa accused “accepts his responsibility” court told Facebookcenter_img Pinterest RELATED ARTICLESMORE FROM AUTHOR PC Phillipa ReynoldsA man charged with causing the death of Constable Phillipa Reynolds has “accepted his responsibility”, a court has heard.25 year old Shane Frane has again been remanded in custody, to appear again via video link on April 4th.Shane Frane, whose address was given as Simon Community, Bonds Hill, is charged with causing the death of Constable Reynolds by dangerous driving on February 9.He is further charged with aggravated vehicle taking causing death, driving whilst unfit and driving without a licence or insurance.Frane is also charged with burglary criminal damage and failing to stop, report or remain at the scene of the accident.The charges relate to an accident in Dales Corner last month, when a stolen Toyota Land Cruiser crashed into the police car 27-year-old Constable Reynolds was travelling in.Frame appeared before Derry Magistrates Court this morning via videolink, with his solicitor telling the ourt that Frane now “accepts his responsibility in respect of these matters”.He added that his client “wishes to apologise for his actions and wants to extend his sympathies to the family of Constable Reynolds”. The court was told that the investigating officer had been contacted to arrange a further interview. By News Highland – March 7, 2013 Twitter Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Google+last_img read more

It’s up to Sinn Fein to find solution to the North power-sharing chaos –…

first_img Further drop in people receiving PUP in Donegal It’s up to Sinn Fein to find solution to the North power-sharing chaos – Hussey Man arrested on suspicion of drugs and criminal property offences in Derry By News Highland – August 28, 2015 Facebook Main Evening News, Sport and Obituaries Tuesday May 25th Facebook WhatsApp The North’s Secretary of State will travel to Dublin next week to meet ministers here to discuss the political crisis at Stormont.The DUP wants Sinn Fein excluded from the Northern Executive over alleged IRA links to the killing of Kevin McGuigan in Belfast, while the UUP says it will withdraw from the Executive over the issue.Theresa Villiers will meet Foreign Affairs Minister Charlie Flanagan and Justice Minister Frances Fitzgerald next week to determine if a collapse of the power-sharing institutions can be prevented.Ulster Unionist Councillor Derek Hussey, says it’s up to Sinn Fein to find the solution and no one else:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/08/derr1pm.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter 365 additional cases of Covid-19 in Republic WhatsAppcenter_img Gardai continue to investigate Kilmacrennan fire Pinterest 75 positive cases of Covid confirmed in North Pinterest RELATED ARTICLESMORE FROM AUTHOR Google+ Previous articleUlster Senior League Kick Off PreviewNext articleConcerns raised over broken street lights in Ballyarnet village News Highland Twitter Google+ Homepage BannerNewslast_img read more