Housing Market to Remain on ‘Solid Trajectory’

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago “The housing market should remain on a solid trajectory, supported by rising employment and low mortgage rates.”Bill Dudley, New York Fed President and CEO The Week Ahead: Nearing the Forbearance Exit 2 days ago Despite signs of softness in several sectors of the economy reported recently, the housing market should remain on a “solid trajectory” for the rest of 2016, according to New York Fed President and CEO William C. Dudley in an address Friday at the University of Bridgeport, Connecticut.Dudley said that despite the recent volatility in financial markets, his outlook for the U.S. economy remains the same—he expects the economy will expand for the rest of the year at a pace slightly above its long-term trend. While he does not expect the Fed to meet its 2 percent inflation objective this year, Dudley expects the factors holding down inflation will dissipate over time, which will result in inflation eventually reaching its 2 percent objective.On the sectors of the economy that have recently shown softness, Dudley cited real consumer spending growth, which seems to have moderated from the robust pace it showed during the second half of 2015. He also cited home sales.Bill Dudley“Both new and existing home sales have flattened since the middle of last year,” Dudley said. “Finally, indicators of real business investment spending point to continued softness.  In contrast, manufacturing production—which had been a particular weak spot of the U.S. economy in 2015—rose in the first two months of this year.”Slack in the labor market seems to be diminishing as evidenced by payroll gains for the first three months of 2016 near last year’s monthly average of 229,000 to go with an unemployment rate of 5 percent, Dudley said. However, some slack in the labor market remains, as indicated by subdued measures of aggregate wage growth. Sign up for DS News Daily Home / Daily Dose / Housing Market to Remain on ‘Solid Trajectory’  Print This Post Tagged with: Housing Market New York Fed U.S. Economy William Dudley Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News Housing Market to Remain on ‘Solid Trajectory’ Data Provider Black Knight to Acquire Top of Mind 2 days ago April 8, 2016 1,751 Views Related Articlescenter_img About Author: 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. Subscribe The Best Markets For Residential Property Investors 2 days ago “I continue to anticipate that consumption and housing activity will expand at a moderate pace this year,” Dudley said. “Continued job and wage gains, combined with still-low energy prices, should sustain real disposable income growth and support consumer spending. The housing market should remain on a solid trajectory, supported by rising employment and low mortgage rates.”Mortgage rates reached a low for 2016 on Thursday, when Freddie Mac announced that the average 30-year fixed-rate mortgage interest rate was 3.59 percent for the week ending April 7.Dudley expects GDP growth of around 2 percent for 2016, which is slightly below the average pace of growth in this expansion—but a bit above his estimate of the economy’s potential growth.“If this materializes, then we should see some further reduction in the unemployment rate to around 4¾ percent—my estimate of the rate that I view as consistent with stable inflation over the long term,” Dudley said.Click here to view Dudley’s full speech. Housing Market New York Fed U.S. Economy William Dudley 2016-04-08 Brian Honea Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Treasury Set to Fight MetLife Over ‘Too Big to Fail’ Removal Next: Texas Courts Validate MERS Assignments Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Share Savelast_img read more

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A Home for a Hero

first_img Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] About Author: Brianna Gilpin The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe July 17, 2017 2,693 Views Servicers Navigate the Post-Pandemic World 2 days ago Related Articles  Print This Post Sign up for DS News Daily Previous: The Week Ahead: Nominations Next: Forging Ahead Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Events, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Keys for Life Operation Homefront 2017-07-17 Brianna Gilpin The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / A Home for a Hero Share Save Tagged with: Keys for Life Operation Homefront Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago A Home for a Hero Artificial turf, big screens, football players—not the standard surroundings for mortgage companies to make an impact. The National Fantasy Football Convention (NFFC) took place Saturday in Dallas with majority of goers clad in Dallas Cowboy’s jerseys and hats, some in giant helmets and foam fingers. However, it wasn’t the fans or even the famous Cowboy’s players that everyone’s attention was on. It was Erica Corley, an Army veteran and single mother of two, who was presented with a mortgage-free home.Corley took the stage alongside Operation Homefront President and CEO John I. Pray, Jr., Brig Gen, USAF (Ret) and Five Star Institute President and CEO Ed Delgado to receive the keys to her new home. Operation Homefront, a national nonprofit whose mission is to build strong, stable, and secure military families so they can thrive, partnered with the Keys for Life program, an initiative of the Five Star Institute, and JPMorgan Chase, who donated the home. When asked what this home meant to her, Corley had one word that encompassed all of her feelings: “everything.”“This puts me so far ahead of the game,” Corley said. “I made a lot of sacrifices—doing the traveling, being gone—so after being gone for so long, there wasn’t a home to come back to.”Corley explained that as a single mom, she poured everything into her children. Now, instead of starting brand-new and having to sacrifice more in order to get her family where they need to be, they now have a house to come home to every day and that is extremely overwhelming.Numerous companies heard of the home donation and immediately wanted to reach out in support. Corley received over $5,000 in gift cards from ALAW, Clarocity, Nationstar Mortgage, Oversite Data Services, Truly Noble Services, ZVN Properties, and an anonymous donor.“When you think about helping a family thrive in their communities, it’s about homeownership and getting that family into that community and that’s why Erica was selected,” said John I. Pray, Jr., Brig Gen, USAF (Ret). “It wasn’t simply because there was a need, because there’s a need from so many of our veterans, but she was absolutely the right fit to be in this home in this community and allow her to establish the roots that will allow her to take care of her family.”Not only is this home something that will give Corley’s family an opportunity to grow presently, John I. Pray, Jr., Brig Gen, USAF (Ret) explained that it also allows her to pass down that equity and all the things that come along with homeownership to her children. It will make a life changing, generational impact.“It’s incumbent upon all of us as Americans to realize the amazing work that our veterans and their families have done for all of us,” John I. Pray, Jr., Brig Gen, USAF (Ret) said. “They have protected the freedoms that we all get to enjoy daily and when they come back home to their communities, they need help. We as Americans and as a large community should band together and take care of those that have done so much for all of us.”Since 2010, the Five Star Institute has supported the presentation of over 50 mortgage free homes to veterans under their Keys for Life (KFL) program. In 2015, KFL teamed up with Operation Homefront to continue the tradition.”It is a privilege to recognize our veterans for their service to our nation,” Delgado said. “Far too often we take for granted theblanket of peace and safety we enjoy as a nation. Ensuring that those who have sacrificed to protect our freedom are properly cared for upon returning home should be a duty for all Americans.”Delgado in conjunction with Operation Homefront will have the pleasure ofpresenting five additional veterans with mortgage-free homes at the Keys for Life Dinner and Concert held at the Five Star Conference, September 18-20.Players such as Jonny Manziel, Terrell Owens, and Charles Haley were also in support at the event.“They deserve it all, they are out there putting their life on the line so we can do what we do,” said Dallas Cowboys Fullback Keith Smith who was one of the current NFL players featured at the event. “They’re the real superstars.” Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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Forward Thinking: Carson on the Future of Housing

first_img Demand Propels Home Prices Upward 2 days ago About Author: Brianna Gilpin Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Forward Thinking: Carson on the Future of Housing The Best Markets For Residential Property Investors 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Forward Thinking: Carson on the Future of Housing October 12, 2017 1,647 Views Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Ben Carson HUD  Print This Post Ben Carson HUD 2017-10-12 Brianna Gilpin Previous: Fannie Mae Makes Fifth Sale of Reperforming Loans Next: Economic Outlook: Consumer Confidence and The Fed Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Servicers Navigate the Post-Pandemic World 2 days ago In a Thursday morning full committee hearing titled “The Future of Housing in America: Oversight of the Department of Housing and Urban Development” HUD Secretary Ben Carson was given an opportunity to discuss recent HUD initiatives and his vision for HUD moving forward.“Since I arrived at HUD in March, it has been my mission to employ the wealth of institutional knowledge held by career staff to improve our services, reform our programs to reflect realities of modern society, and remain careful stewards of taxpayer dollars,” Carson said. “My experiences and interactions with the talented employees of HUD have been extremely gratifying and inspiring.”During his opening statement, Financial Services Committee Chairman Rep. Jeb Hensarling (R-Texas) welcomed Carson saying, “[Carson] may be among the most qualified individual to ever serve as HUD secretary. … Not only does he understand poverty personally and viscerally, he understands what it takes to escape it.”Speaking to the committee, Carson announced HUD’s plan for institutional reform and improvement—the FORWARD initiative, with the main initiatives following what Carson called “the three Rs”: Reimagine How HUD Works, Restore the American Dream, and Rethink American Communities.“While HUD has been around for 50 years, many Americans still struggle to find affordable housing,” Carson said. “The Worst-Case Housing Needs 2017 Report indicates that alarmingly high numbers of Americans continue to pay more than half of their incomes toward rent and/or live in inadequate conditions.”This was a concern that resonated with Hensarling who outlined in his opening comments that after those 50 years and $1.6 trillion, the poverty rate has remained relatively unchanged.“After suffering from eight years of bad public policy leading to a sluggish economy barely growing at half of the historic norm, working Americans deserve better,” said Hensarling.During her opening remarks, Congresswoman Maxine Waters (D-California) challenged Carson on being able to address what she terms “the worst rental housing crisis” experienced.“Secretary Carson has expressed views that are deeply alarming and antithetical to his role at HUD, such as describing poverty as ‘more of a choice than anything else,’ and saying he doesn’t think public housing should be too ‘comfortable,’” said Waters.Carson underscored that the FORWARD initiative is working to better support the needs of the families they serve, noting that a goal of every anti-poverty program should be to help beneficiaries reach prosperity and self-sufficiency.“Housing assistance must be geared toward this goal through alignment with job training and other forms of support where possible,” Carson said. “This does not mean taking assistance away from those who need HUD—it means doing our job so well that fewer and fewer people require our assistance.”Carson also spoke to the False Claims Act stating, “We are already addressing that problem [of improper use of the Act]; our staff, along with the DOJ staff. And we’re committed to getting that resolved, because it’s ridiculous, quite frankly,” Carson said in an answer to Rep. Dave Trott (R-Michigan).To see the full committee hearing, click here.To see Secretary Carson’s prepared remarks detailing the areas HUD is focusing on, click here. The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Headlines, Newslast_img read more

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Construction Spending on the Upswing

first_img About Author: David Wharton  Print This Post Census Bureau Construction Spending residential construction spending single-family construction spending US Census Bureau Data 2018-04-02 David Wharton Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Overall construction spending increased by 3.0 percent year-over-year according to the latest monthly Construction Spending Report released by the U.S. Census Bureau. The report also found a month-over-month spending increase, with overall construction spending inching upwards from $1,272.2 billion in January 2018 (revised) to $1,273.1 billion in February.Private construction hit a seasonally adjusted annual rate of $982 billion in February, up 0.7 percent over the revised January estimate of $974.8 billion. Breaking things down further,  residential construction in February reached a seasonally adjusted annual rate of $533.4 billion, creeping up 0.1 percent above the revised January estimate of $532.9 billion. On the nonresidential side of things, construction for February was at a seasonally adjusted annual rate of $448.6 billion in February, up 1.5 percent over the revised January estimate of $441.9 billion.The Census Bureau reports that new single-family construction increased 0.1 percent month-over-month, reaching a seasonally adjusted annual rate of $281.8 billion in February, up from $279.2 billion in January. Compared to February 2017, however, new single-family construction increased 9.5 percent. Public construction took a downturn in February, with the estimated seasonally adjusted annual rate of public construction spending hitting $291.1 billion for the month. This was 2.1 percent below the revised January estimate of $297.4 billion. Under the public construction umbrella, educational construction was measured at a seasonally adjusted annual rate of $74.6 billion, 0.5 percent below the revised January estimate of $75 billion. Highway construction was at a seasonally adjusted annual rate of $88.5 billion, 0.2 percent below the revised January estimate of $88.7 billion.The Bureau will release its next construction spending report—which will cover March 2018’s figures—on May 1, 2018. Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago April 2, 2018 1,550 Views Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily 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] Demand Propels Home Prices Upward 2 days ago Tagged with: Census Bureau Construction Spending residential construction spending single-family construction spending US Census Bureau Data The Best Markets For Residential Property Investors 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Construction Spending on the Upswing Previous: Home Point Financial Hires New CBO, CPO Next: Five Star Government Forum Unites Banking and Government Leaders Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Construction Spending on the Upswing in Daily Dose, Featured, Journal, Market Studies, Newslast_img read more

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Contesting Crisis-Era RMBS Litigation

first_img Contesting Crisis-Era RMBS Litigation November 12, 2018 1,901 Views Related Articles in Daily Dose, Featured, Investment, News Demand Propels Home Prices Upward 2 days ago Previous: PRMI Named 2018 Top Workplace Next: Buying a Home Before Turning 35 The Best Markets For Residential Property Investors 2 days ago  Print This Post Tagged with: Black Rock Department of Justice mortgage RMBS Securities. Crisis UBS Wells Fargo Share Save Data Provider Black Knight to Acquire Top of Mind 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Switzerland-based wealth manager UBS has said that it plans to contest the litigation by the United States Government over UBS’ issuance, underwriting, and sale of residential mortgage-backed securities (RMBS) during the financial crisis a decade ago. In a recent statement, UBS said that it was “confident in its legal position based on the facts and the law.”The Department of Justice (DOJ) has filed a civil complaint in the U.S. District Court for the Eastern District of New York against UBS, seeking monetary civil penalties under the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA) regarding these RMBS transactions that took place in 2006-07.The DOJ has alleged that instead of ensuring that their representations to investors were accurate and transparent, UBS affirmatively misled investors and withheld crucial information from them about the loans in its deals.“UBS allegedly placed a higher priority on selling bonds and making profits than accurately representing the quality of the underlying loans to investors. These practices resulted in massive losses to investors, harmed homeowners, and ultimately jeopardized the banking system,” said United States Attorney Byung J. Pak for the Northern District of Georgia, who filed these charges along with Principal Deputy Associate Attorney General Jesse Panuccio, U.S. Attorney Richard P. Donoghue for the Eastern District of New York  and Associate Inspector General Jennifer Byrne, Federal Housing Finance Agency-Office of Inspector General (FHFA-OIG) in federal court for the Eastern District of New York.However, UBS said that it did not cause losses for RMBS investors and fulfilled its disclosure obligations to sophisticated RMBS investors. Additionally, UBS said that it had suffered “massive losses on U.S. mortgage-related assets including the RMBS cited in the complaint, negating any inference of fraud.” The wealth manager also plans to contest the allegations on the grounds that it was not a significant originator of U.S. Residential Mortgages and that any penalty sought by the DOJ would be limited at most to losses to federally-insured financial institutions.While UBS has decided to contest the litigation, in another RMBS trustee litigation, Wells Fargo and Black Rock have reached a settlement to resolve two class action suits in federal and state court related to Wells Fargo’s role as a trustee for some RMBS trusts created more than a decade ago. The litigation relates to a case where a group of institutional investors including finds affiliated with Black Rock Inc., and PIMCO were named as plaintiffs along with Wells Fargo.Denying the claims made in the litigation, Wells Fargo said that it would pay $43 million under the settlement. According to a Wells Fargo statement, separate from the settlement amount that it is paying, up to $70 million from certain trust reserve accounts established in connection with the litigation will also be released.“Consistent with our sound business practices, we believe that we appropriately fulfilled our duties as trustee by performing the responsibilities prescribed in the relevant contracts for these decade-old trusts,” said Troy Kilpatrick, Head of Wells Fargo Corporate Trust Services. “While we disagree with the allegations, it is in the best interest of all parties to put this protracted litigation behind us and we are satisfied with this settlement.”Wells Fargo said that the agreement, which is subject to approval by the court, resolves claims regarding the fulfillment of Wells Fargo’s duties as trustee—including providing certain notifications to certificateholders—for 271 RMBS trusts created between 2004 and 2008.The bank said that as trustee, its duties were limited to administering the trusts and that it had no role in the origination or servicing of the mortgages at issue. “The agreement resolves a significant portion of the claims asserted against the company in connection with its role as trustee for RMBS trusts,” Wells Fargo said.However, it pointed out that this agreement did not cover the separate lawsuits filed by certain other institutional investors concerning 58 trusts.center_img Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Black Rock Department of Justice mortgage RMBS Securities. Crisis UBS Wells Fargo 2018-11-12 Radhika Ojha Demand Propels Home Prices Upward 2 days ago About Author: Radhika Ojha Home / Daily Dose / Contesting Crisis-Era RMBS Litigation Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

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Mortgage Servicing: Trends and Challenges

first_imgSubscribe in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 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 Servicers Navigate the Post-Pandemic World 2 days ago Potential homebuyers want more assistance with their buying process, according to the recent TD Bank Mortgage Service Index. The Index notes that homebuyers are optimistic, with 83% saying it’s a good time to buy a home and 30% are very or extremely likely to buy a home in the next three years.More homebuyers than ever are using online processes when buying a home. TD Bank states that the number of homeowners who applied for a mortgage online has increased from one in eight (13%) in 2014 to more than one in five (21%) this year.”Digital platforms are speeding up mortgage processing on the front and back ends,” said Rick Bechtel, Head of U.S. Residential Lending for TD Bank. “When borrowers leverage online platforms for providing documents and completing necessary forms, we have found it reduces information intake time by more than 60% on average.”Many buyers still need guidance in some areas. TD Bank notes that 82% of consumers today believe they have enough resources to educate themselves on the mortgage process, compared to 90% in 2019.Around 30% of homeowners received $2,000 or more in unexpected charges during the homebuying process, with another 42% stating that they are unaware of affordability programs. Additionally, despite the fact that 52% of homeowners plan on staying in their home for less than 10 years, 74% of homeowners took out a 30-year fixed rate or 15-year fixed rate mortgage.While affordability is improving, affordability is still a problem for homeowners as well as renters in many metro areas. According to Freddie Mac, the largest metro areas are the most rent-burdened.“Rental affordability is a significant challenge for metropolitan areas across the United States,” said Steve Guggenmos, VP of Freddie Mac Multifamily Research and Modeling. “The vast majority of the units Freddie Mac finances are affordable. Even so, our research shows that supply just hasn’t kept pace with demand in many metros, and that’s pushing affordable rents out of reach for millions of American families.” Previous: Checking in on Condo Delinquency Rates Next: The Week Ahead: GSEs Prepare to Launch UMBS The Best Markets For Residential Property Investors 2 days ago Mortgage Servicing: Trends and Challenges Share Save May 31, 2019 2,761 Views center_img About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles  Print This Post Affordability Home Purchases Mortgages Sales 2019-05-31 Seth Welborn 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Affordability Home Purchases Mortgages Sales Home / Daily Dose / Mortgage Servicing: Trends and Challengeslast_img read more

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FHFA Making Structural Changes

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Previous: Puerto Rico Hopes to Relocate Families Displaced by Earthquake Next: Opportunities in Collateral Risk Management The Best Markets For Residential Property Investors 2 days ago The Federal Housing Finance Agency (FHFA) announced a realignment that will “further bolster FHFA’s capacity as a world-class regulator of Fannie Mae and Freddie Mac and the Federal Home Loan Banks,” FHFA states. According to the FHFA, the realignment of its structure is designed to ensure that it is well-positioned for the GSEs to responsibly exit conservatorship. Fannie Mae and Freddie Mac are currently building the capital necessary to get out of conservatorship, but there is still a little way to go, according to FHFA Director Mark Calabria.As part of the changes, the FHFA will be establishing three new units that report directly to the Director: The Division of Research and Statistics headed by Deputy Director Lynn Fisher, the Division of Accounting and Financial Standards.headed by Deputy Director Nina Nichols, and the Office of Equal Opportunity and Fairness.The FHFA will also be hiring a new Deputy Director, Paul Miller, and Associate Director, Scott Valentin, for the Division of Enterprise Regulation. In addition,  Christopher Curtis will be made Principal Deputy General Counsel, and Sean Dent will be Senior Deputy General Counsel. Anju Vajja will be Senior Associate Director for Policy Research; and in the Office of Minority and Women Inclusion, Paul Priest will be Associate Director for Diversity and Inclusion and Administration.The Division of Conservatorship will be renamed the Division of Resolutions, and FHFA will be recruiting an Office of Equal Opportunity and FairnessDirector, a Chief Economist, a Senior Associate Director for Data, and a COO.“The changes we are implementing today will solidify FHFA as a world-class regulator,” said Director Calabria. “The revised structure and appointments of highly qualified senior leaders will ensure that FHFA continues to protect taxpayers from future bailouts and deliver on our obligation to create a competitive, liquid, efficient and resilient housing finance market.” Demand Propels Home Prices Upward 2 days ago Subscribe Tagged with: Conservatorship FHFA GSE January 31, 2020 2,170 Views The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Home / Daily Dose / FHFA Making Structural Changes The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago FHFA Making Structural Changes About Author: Seth Welborn Share Save Conservatorship FHFA GSE 2020-01-31 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily last_img read more

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Single-Family Rental Prices Slow This Spring

first_img  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Rental SFR 2020-06-16 Seth Welborn in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Single-Family Rental Prices Slow This Spring June 16, 2020 1,282 Views Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. About Author: Krista F. Brock Share Save Home / Daily Dose / Single-Family Rental Prices Slow This Spring Tagged with: Rental SFRcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Single-family rental prices grew at the slowest pace recorded in the past nine years. Single-family rents grew by 2.4% on an annual basis in April, according to CoreLogic’s Single-Family Rent Index. This is the lowest rate recorded since November 2010.Rent price growth decelerated across all price levels, but the difference was more notable at the lower end of the market. Regardless, lower-priced rents did grow faster than higher-priced rents, as has been typical since spring 2014, according to CoreLogic.Single-family homes with rents priced at 75% or lower than the regional median rent price, experienced an annual rent price gain of 3.1% in April, down from a 3.6% gain a year earlier.At the higher end of the market, among properties priced higher than 125% of their region’s median rent, prices increased 2.3% in April, which is just a slight decline from the 2.4% recorded a year ago.CoreLogic attributes the deceleration in rent prices to uncertainty and shelter-in-place orders this spring, which made people less likely to move.Rent prices tended to slow more in metros where employment was most impacted during the recession this spring. In Detroit, where employment decreased 24.5% in April, rent price growth was just 0.3%. This is down significantly from the 3.3% growth reported last April.On the other hand, employment declined 7.6% in Phoenix, where single-family rent price growth was strongest in April. The 6.6% growth reported in April is up just slightly from the 5.9% reported a year ago.Phoenix’s place as No. 1 for rent growth is no surprise, as the metro has held the position since late 2018, according to CoreLogic.It also significantly outpaced the city ranking No. 2 for single-family rent price growth in April, Tucson, Arizona, where rent price growth measured 3.7% over the year.All but one of the 20 largest metros in the nation experienced growth in single-family rent prices in April. St. Louis was the only metro to experience a decline in April, a slight 0.1% fall since last April. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Previous: Fed Chair: Purchase of MBS ‘Vital’ For Market Function Next: DS5: Optimism in Mortgage Servicing Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

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Wards re-open following Alnagelvin Hospital fire

first_img Guidelines for reopening of hospitality sector published Facebook Pinterest Twitter News Google+ Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Five of the seven wards evacuated during Friday night’s fire at Altnagelvin Hospital have now reopened.120 patients where evacuated when a fire broke out on the top floor of the hospital building causing a pipe to burst which presented a flooding risk.Two other wards remain closed and patients are being cared for in other areas of the hospital.The Western Trust confirmed that some planned surgery will go ahead on Monday but 33 procedures have had to be cancelled. Patients affected by the cancellations will be contacted directly by hospital staff.The hospital’s emergency services are continuing to operate as normal and normal visiting arrangements apply.Meanwhile Investigations into the cause of the fire are ongoing, but the chairman of the Western Trust has commented that building, which is the oldest part of the facility had been a known fire risk.It has also emerged that hospital management has previously submitted proposals to the department of Health to make the facility safer. Pinterest Wards re-open following Alnagelvin Hospital fire Facebookcenter_img RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH Twitter WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – November 25, 2012 WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week Need for issues with Mica redress scheme to be addressed raised in Seanad also Previous articleWoman struck by car and seriously injured on Coneyburrow RoadNext articleGovernment again asked to support former Assetco employees News Highland last_img read more

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PSNI appeal after Derry armed robbery

first_img Twitter Detectives in Derry are appealing for information following an armed robbery in the Park Avenue area last evening.At approximately 8.40pm, two men, one armed with a wheel brace, entered a newsagents and demanded money. They made off with a sum of cash in the direction of Upper Nassau Street. No-one was injured in the incident.The first male is described as being approximately 5’11” tall, of slim build and was wearing a light grey hooded top and light grey tracksuit bottoms.The second male is described as being approximately 5’7″ tall, of medium build and was wearing a dark grey hooded top.Anyone with any information about this incident is asked to contact detectives at Strand Road.Meanwhile, a man and woman, both aged 41 are due before Derry Magistrates Court tomorrow charged with robbery and possessing an offensive weapon.It is believed that the charges are in connection with a robbery at a shop in the Great James Street area of Derry on the evening of Friday 10 January. Facebook Google+ News RELATED ARTICLESMORE FROM AUTHOR Previous articleMayor hopeful Donegal County Council can survive budget impasseNext articleSiptu says HIQA ambulance review must examine the impact of cutbacks News Highland Facebook WhatsApp WhatsApp By News Highland – January 12, 2014 Pinterestcenter_img Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ Minister McConalogue says he is working to improve fishing quota LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter PSNI appeal after Derry armed robbery 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Dail hears questions over design, funding and operation of Mica redress schemelast_img read more

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