DS News Webcast: Tuesday 4/16/2013

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Previous: Foreclosure-Prevention Scams Rise, Overall Mortgage Fraud Declines Next: Capsilon Combines Katalyst and DocVelocity in Featured, Media, Webcasts Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Is Rise in Forbearance Volume Cause for Concern? 2 days ago About Author: DSNewscenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily 2013-04-16 DSNews DS News Webcast: Tuesday 4/16/2013 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / DS News Webcast: Tuesday 4/16/2013 April 16, 2013 494 Views Coverage:- Home Sales Rise 25% from February to March- Fitch: Greater Use of Shirt Sales Reduces Loss Severities />For More information, Check Out DSnews.com Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img

Has the Foreclosure Housing Market Improved?

first_imgHome / Daily Dose / Has the Foreclosure Housing Market Improved? The Best Markets For Residential Property Investors 2 days ago RealtyTrac released a new analysis of the foreclosure housing market on Thursday, which found that 96 percent of U.S. county real estate markets are better off in 2014 than at the height of the foreclosure crisis four years ago.The time period when the counties were measured played an important role; only 8 percent of markets were better off than eight years ago. Additionally, 80 percent of markets were better off than 2012, and 30 percent better than 2008.”The analysis looked at four different key categories of housing market health: home price appreciation, affordability, percentage of bank-owned (REO) sales, and the unemployment rate,” the report said.Each county was then assigned a rank between 1 and 2.5 for each category each year, and the rankings were summed for a total index score. The maximum possible score was 10. The 410 counties analyzed account for 63 percent of the U.S. population.”The housing recovery has taken root in hundreds of counties across the country and almost all local housing markets are better off than they were four years ago when foreclosure activity peaked in 2010, with more than 1 million homes lost to foreclosure in that year alone,” said Daren Blomquist, VP at RealtyTrac.”We saw less than half that number of bank repossessions nationwide in 2013. Even in hard-hit markets like Stockton, Las Vegas, and Lansing, Michigan, where REO sales represented more than half of all sales in 2010, the percentage of REO sales has been cut at least in half,” Blomquist said.Continuing an ongoing trend, affordability continues to be a problem in key areas. Increasing home prices and low inventory continue to keep prices high, and are helping bring certain areas a speedier recovery—in some cases past pre-recession levels.”Home prices in three-fourths of the counties analyzed are still below 2006 levels, but low inventory has helped home prices accelerate past pre-recession levels in some markets like Seattle, San Francisco, Denver and Oklahoma City,” Blomquist noted.He continued, “Those rapid home price gains are causing a concerning drop in affordability rates in some cities, but homebuilders and homeowners with regained equity should help provide more supply to balance out many of those markets in 2014.”Counties with the largest improvement in index from the height of the foreclosure crisis in 2010 to this year were Alameda County (California), Marion County (Indiana), Sonoma County (California), Napa County (California), and Miami-Dade County (Florida).Counties that had the least amount of change in their index over the four year span were Monroe County (New York), Arlington County (Virginia), Yuma County (Arizona), Cumberland County (New Jersey), and Cochise County (Arizona).Each county changed by -.5 percent, which means their index decreased from 2010. Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Tagged with: Affordability Foreclosure Foreclosure Crisis RealtyTrac Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily About Author: Colin Robins 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. March 21, 2014 804 Views in Daily Dose, Featured, Foreclosure, Headlines, Newscenter_img Demand Propels Home Prices Upward 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Spring Expected to See Increased Growth from Q1 Next: The DSNews Webcast: Monday 3/24/2014 Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Has the Foreclosure Housing Market Improved? Affordability Foreclosure Foreclosure Crisis RealtyTrac 2014-03-21 Colin Robins  Print This Postlast_img

Recent HAMP Loan Mods Re-Defaulting At Higher Rates

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Recent HAMP Loan Mods Re-Defaulting At Higher Rates in Daily Dose, Featured, News Black Knight Financial Services HAMP Loan Modifications Re-default Rates 2015-01-12 Brian Honea Tagged with: Black Knight Financial Services HAMP Loan Modifications Re-default Rates Governmental Measures Target Expanded Access to Affordable Housing 2 days ago January 12, 2015 1,557 Views  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 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. center_img About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Share Save Previous: ARMCO Announces New COO Next: Survey: Americans’ Attitude Mixed Toward Housing, Economy Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Loan modifications facilitated through the government’s Home Affordable Mortgage Program (HAMP) have historically re-defaulted at a lower rate than proprietary loan modifications, but HAMP mods facilitated in 2014 began re-defaulting at a higher rate than those modified in the two previous years, according to Black Knight Financial Services’ November 2014 Mortgage Monitor released on Monday.Black Knight’s study revealed that HAMP loan mods were re-defaulting at a higher rate for loans modified in 2014 than those modified in 2012 and 2013. About 9 percent of all HAMP mods completed in 2014 were delinquent after eight post-mod payments, compared with delinquency rates of 6 and 5 percent after eight post-mod payments for HAMP mods facilitated in 2012 and 2013, respectively.There has been a significant shift in the makeup of loan mod activity by investor in the last five to six years for both proprietary and HAMP loan mods. In 2009, the first year of HAMP, about 30 percent of HAMP loans were on private or portfolio loans and about 70 percent were on GSE loans. In 2014, only 10 percent of HAMP mods were on GSE loans, about 18 percent were on portfolio or private loans, and about 72 percent were on FHA or VA loans. In 2013, only 16 percent of HAMP loan mods were on FHA or VA loans.”The increase in 2014 HAMP re-default rates seems to be driven by the fact that 70 percent of HAMP mods this year were on FHA loans, and those modifications included lower payment reductions than they had in years past,” said Trey Barnes, Black Knight’s SVP of Loan Data Products. “For 2011 to 2013 vintage FHA HAMP mods, between 70 to 77 percent of borrowers received payment reductions of 20 percent or more. In 2014, that share was just 58 percent. Black Knight’s data shows a conclusive correlation between greater payment reductions and lower re-default rates, so what we’re seeing here is likely the other side of that equation.”For proprietary loan mods, about 75 percent of them were on portfolio or private loans in 2008, while about 10 percent of them were on GSE loans that year. By 2014, nearly 60 percent of proprietary loan mods were on GSE loans and about 30 percent of them were on portfolio or private loans.Overall loan mod volume has been steadily declining since January 2014 and is way down from its 2009 and 2010 peak levels, according to Black Knight. The percentage of HAMP mods that make up all loan mod activity has been steadily increasing, however – for November 2014, it was slightly above 50 percent, compared to less than 20 percent for most of 2013 (it did reach as high as 60 percent earlier in 2014).Overall mortgage loan delinquencies increased month-over-month by 11.82 percent in November 2014 up to 6.08 percent, the largest monthly increase in six years. It also broke a string of nine consecutive months with a delinquency rate of less than 6 percent. Home / Daily Dose / Recent HAMP Loan Mods Re-Defaulting At Higher Rateslast_img

Industry Experts Polled on Housing Market

first_img Altisource Portfolio Solutions REO 2016-10-27 Kendall Baer About Author: Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Previous: The New Role of Data and Analytics in the Industry Next: What Does the Latest Volume Summary Hold for Freddie Mac? Altisource Portfolio Solutions (Altisource), a provider of real estate, mortgage and technology services, polled 100 mortgage servicing professionals in attendance at the recent Five Star Conference and Expo in Dallas, the nation’s largest gathering of mortgage servicing professionals. The survey indicates that 38 percent of respondents believe offering more financing options to home buyers for auction properties will be a factor in attracting a more consumer-based audience.This was followed by over a third of respondents, or 34 percent, who say education about the auction market and the use of real estate agents to promote auction properties will be needed to attract consumer interest in purchasing REO homes. Furthermore, 28 percent of respondents view having access to more robust market data and insights as the most important aspect to make the greatest impact in the REO market.“The bank-owned real estate sector was largely untapped by individual home buyers until recently,” said John A. Vella, Chief Revenue Officer of Altisource. “Today, individual buyers can benefit from smart financing options like rehab financing, otherwise known as a FHA 203(k) loan, which bundles the home purchase price and renovation costs into a single mortgage. This is a huge step in the right direction because it can help buyers purchase affordable properties from the REO market, especially at a time when inventory is low and housing prices are continuing to climb.”This evolution is really interesting in the context of affordability issues across the country and a maturing REO market coming together to boost homeownership.The poll also found that 44 percent of participants are optimistic that continued low interest rates will encourage home buying and 39 percent of participants are optimistic about new financing options from lenders will broaden the buyer pool. Share Save Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. The Best Markets For Residential Property Investors 2 days ago October 27, 2016 1,261 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articlescenter_img Industry Experts Polled on Housing Market Tagged with: Altisource Portfolio Solutions REO Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Industry Experts Polled on Housing Market Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Uncategorized Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agolast_img

Total FHFA Prevention Actions Edge Close to 4 Million

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Federal Housing Finance Agency FHFA Foreclosure Foreclosure Prevention Report Loan Modifications Mortgage Modifications 2018-01-19 Alison Rich January 19, 2018 1,449 Views Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Previous: How Will a Government Shutdown Affect the Mortgage Industry? Next: Distributing Insurance Funds After a Natural Disaster in Daily Dose, Featured, Foreclosure, Journal, News Tagged with: Federal Housing Finance Agency FHFA Foreclosure Foreclosure Prevention Report Loan Modifications Mortgage Modifications The Best Markets For Residential Property Investors 2 days ago About Author: Alison Rich Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Share Savecenter_img Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Total FHFA Prevention Actions Edge Close to 4 Million Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. Total FHFA Prevention Actions Edge Close to 4 Million Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Collectively, Fannie Mae and Freddie Mac sealed 18,034 foreclosure prevention actions back in October, bringing the combined total to 3,990,723 since the GSE conservatorships launched in September 2008, so says the Federal Housing Finance Agency’s (FHFA) October 2017 Foreclosure Prevention Report. By comparison, the number of foreclosure prevention actions amounted to 12,322 in September 2017. More than half of the prevention actions recorded in October—11,010, to be exact—were permanent loan modifications, inching up the total of permanent mods to 2,129,220 since September 2008. What’s more, 39 percent of mods completed in October were those with principal forbearance, the report says. Slightly eclipsing that number, extend-term only modifications comprised 44 percent of all loan modifications during that month.As for short sales and deeds-in-lieu of foreclosure finalized in October, that number was down a bit compared with September: 1,147 in October vs. 1,158 the previous month, according to the report. That being said, however, October saw 839 completed short sales compared with 828 the prior month. Some 308 deeds-in-lieu made it to completion in October, contrasting with 330 tallied in September.In terms of Fannie and Freddie’s mortgage performance, the serious delinquency rate stayed flat—0.95 percent—at the close of October, which means roughly 78 percent of borrowers who received a modification in both October and September were three or more months behind on their mortgage payment, the report states. In summary, the 60-plus-day delinquency rate leaped from 368,182 in September to 401,818 in October. When talking about the enterprises’ foreclosure numbers, third-party and foreclosure sales dipped from 4,905 in September to 4,776 in October. On the flip side, the number of foreclosure starts jumped from 12,830 in September to 13,601 in October. Completed foreclosure prevention actions grew from 11,164 in September to 16,887 in October, driven mostly by loan modifications and forbearance plans. The Best Markets For Residential Property Investors 2 days agolast_img

Construction Starts Surged in March

first_imgHome / Daily Dose / Construction Starts Surged in March About Author: Alison Rich Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Share Save Construction Dodge Data & Analytics Multifamily SIngle-family starts 2018-04-23 Alison Rich Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Tagged with: Construction Dodge Data & Analytics Multifamily SIngle-family startscenter_img  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily If it seems houses and buildings are sprouting out of the ground in record time, it’s because they probably are. New construction starts increased 11 percent in March from February to a seasonally adjusted annual rate of $785.2 billion, according to Dodge Data & Analytics. The impressive growth spurt reverses mild declines in January (down 2 percent) and February (down 3 percent) and ramps up total construction starts to the highest level recorded over the past six months, the company reported.Residential construction remained stable for single-family homes on a month over month basis. However, multifamily housing pulled down the overall construction for residences 2 percent in March. For the full year though, residential construction grew 7 percent with single-family housing increasing 4 percent and multifamily housing rising 12 percent from the same period last year. Total construction starts for the first quarter (January to March 2018) on an unadjusted basis totaled $167.3 billion, a 7 percent drop from 2017. Measured on a 12-month moving basis, total construction starts for the 12 months ending this past March were up 1 percent compared with the 12-month period ending in March 2017.When it comes to the Dodge Index, the March numbers resulted in a 166 reading (2,000 = 100), up from 150 in February. Throughout Q1 2018, the index averaged 157, up 2 percent from the 154 average inked in Q4 2017 but a trifle below the 161 average for full-year 2017.“This type of data roller-coaster often occurs when construction reaches a mature stage of expansion, trailed by a slower growth rate,” said Robert A. Murray, Chief Economist for Dodge Data & Analytics.  “Looking at the data on a quarterly basis can reduce the volatility present in the monthly statistics,” he said. “This year’s first quarter shows a continuation of the up-and-down pattern that’s been present over the past year—first quarter 2017 up 10 percent, second quarter 2017 down 6 percent, third quarter 2017 up 8 percent, fourth quarter 2017 down 9 percent, and now first-quarter 2018 up 2 percent.” Slowing expansion doesn’t necessarily make for an imminent decline, and several factors will help construction stick close to recent levels, he notes, including a host of upcoming public works programs, a healthy economy, and moderately rising interest rates. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago April 23, 2018 1,959 Views Construction Starts Surged in March The Best Markets For Residential Property Investors 2 days ago Previous: Castle Law Defendants Awarded $1.9M in Legal Fees Next: Freddie Mac Forecasts Housing Conditions Through 2019 Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. Subscribelast_img

HELOC Equity Withdrawals Hit a Low

first_imgHome / Daily Dose / HELOC Equity Withdrawals Hit a Low  Print This Post HELOC Equity Withdrawals Hit a Low Homeowner equity grew 7 percent by more than $380 billion in the first quarter of 2018, according to the latest Mortgage Monitor report released by Black Knight on Monday. In fact, this is the largest single quarter growth since Black Knight began tracking this data in 2005. Yet, homeowners with mortgages withdrew only $63 billion in equity via cash-outs or home equity lines of credit (HELOCs) representing a 7 percent decline from the last quarter of 2017, Black Knight said.Despite a 16 percent increase in equity over a one-year period, just 1.17 percent of the total equity available was withdrawn over the quarter, representing the lowest share in four years. “Collectively, American homeowners now have $5.8 trillion in equity available, yet only 1.17 percent of that total was withdrawn in the first quarter of the year,” said Ben Graboske, EVP of Black Knight’s Data and Analytics division. “Somewhat surprisingly, even though rising first-lien interest rates normally produce an increase in HELOC lending, the volume of equity withdrawn via lines of credit dropped to a two-year low as well.”According to the report, cash-out made up 70 percent of all refinance transactions in Q1, with 45 percent of homeowners who took a cash-out refi having to increase their rate to do so. Cash-out refi withdrawals were also up 5 percent from last year compared to HELOC withdrawals, which slipped 1 percent during the period. The report concluded that these numbers pointed out to the fact that as short-term rates rose, traditionally good potential HELOC borrowers were turning to cash-out refis due to their competitive rate advantage.So what’s driving the decline of HELOCs? “One driving factor in the decline of HELOC equity utilization is likely the increasing spread between first-lien mortgage interest rates–which are tied most closely to 10-year Treasury yields–and those of HELOCs–which are more closely tied to the federal funds rate,” Graboske said. “As of late last year, the difference between a HELOC rate and a first-lien rate had widened to 1.5 percent, the widest spread we’ve seen since we began comparing the two rates 10 years ago. The distance between the two has closed somewhat in Q2 as 30-year mortgage rates have been on the rise, which does suggest the market remains ripe for relatively low-risk HELOC lending expansion.”The Federal Reserve raised its target interest rate again at its June meeting, and according to Graboske that would also increase the standard “interest rate on HELOCs in Q3 2018.” Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Week Ahead: American Consumers and Debt Next: Fannie Weighs in on Homebuyer Sentiments Black Knight Equity HELOC Interest loans mortgage 2018-07-09 Radhika Ojha Sign up for DS News Daily Share 1Save Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Black Knight Equity HELOC Interest loans mortgage Demand Propels Home Prices Upward 2 days ago Related Articles in Daily Dose, Featured, Investment, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago July 9, 2018 2,781 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 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. Subscribelast_img

Freddie Mac Fund to Help Homeless and Displaced

first_img Stephanie Bacot is an experienced multimedia writer having created content for print, web, television, and more. She is the past producer of BIZTV, a national television network for businesses and entrepreneurs that reached more than 200,000 professionals. She has more than 15 years’ experience in healthcare marketing and was an advertising exec for Healthcare Journal of Baton Rouge, a trade publication focused on the healthcare industry, as well as the marketing director for a $5 million surgery center. Bacot is a graduate of Louisiana State University with a degree in Marketing and Communications. She resides in Dallas when she’s not pursuing her love of travel.  Print This Post The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Freddie Mac Fund to Help Homeless and Displaced Demand Propels Home Prices Upward 2 days ago Freddie Mac Fund to Help Homeless and Displaced David Leopold Freddie Mac Homeless HOUSING 2019-03-06 Staff Writer About Author: Stephanie Bacot Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Loss Mitigation, News On Monday, Freddie Mac announced a new Low-Income Housing Tax Credit (LIHTC) Fund with National Equity Fund (NEF), which is responsible for financing the vast majority of affordable rental housing across the United States. Within the fund, three investments have been initiated to help provide supportive housing for individuals experiencing homelessness and populations displaced by natural disasters. David Leopold, VP of Targeted Affordable Sales & Investments at Freddie Mac, said that the “National Equity Fund has a more than 30-year track record of making investments that help the most underserved communities, and Freddie Mac is very proud to aid that mission through one of our LIHTC Equity funds.” The investments we have made through the fund thus far are making home possible for those displaced by Hurricane Harvey and individuals experiencing homelessness in some of the most housing-challenged communities in the country.”A $15 million LIHTC equity investment in Houston’s New Hope Housing’s Dale Carnegie development will provide housing and supportive services to 170 individuals and families displaced by Hurricane Harvey. The other two are aimed at helping the homeless and Veterans in the Los Angeles area. One is for Skid Row Housing in Los Angeles for an estimated 100 homeless veterans and special needs individuals. A $19.6 million LIHTC equity investment in Skid Row Housing Trust’s Flor 401 Lofts development will provide both housing and supportive services. The other, A $26.5 million LIHTC equity investment in Hollywood Community Housing’s Florence Mills Apartments, will help provide supportive housing South Los Angeles, an area with a very high homeless rate. Thirteen of the 74 units will be designated for homeless veterans.More than 20 million households across the country pay more than 30 percent of their income for housing. Eleven million are paying more than 50 percent of their income for housing. Freddie Mac and NEF are working together to address this vast and growing need through the Low-Income Housing Tax Credit program. This effort is designed to make homes possible for millions of families and individuals by providing mortgage capital to lenders. Read more here. Previous: FHFA’s Final Rule on Uniform Mortgage-Backed Security Next: Following Mortgage Fintech Into the Future The Best Markets For Residential Property Investors 2 days agocenter_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 Tagged with: David Leopold Freddie Mac Homeless HOUSING Share Save March 6, 2019 1,546 Views 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 Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img

The Week Ahead: Eye on Employment

first_imgSubscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago March 29, 2019 978 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save On April 2, the Bureau of Labor Statistics will release its employment data for March. February’s data saw unemployment fall to 3.8 percent. According to the Federal Open Market Committee (FOMC), February’s strong labor market impacted the Fed’s decision to hold out on a rate hike.The FOMC also noted that inflation has declined in the past year, citing lower energy prices, though inflation for items other than food and energy has remained at around two percent. In a statement. The FOMC stated that a rate hike may still be possible.“The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee’s symmetric 2 percent objective as the most likely outcomes,” said the FOMC in a statement. “In light of global economic and financial developments and muted inflation pressures, the Committee will be patient as it determines what future adjustments to the target range for the federal funds rate may be appropriate to support these outcomes.”Despite strong labor gains in other sectors, the housing industry has recently seen a shortage of labor. According to NAHB/Wells Fargo Housing Market Index, more than four out of five builders expect to face serious challenges regarding the cost and availability of labor in 2019.“Compared to the supply-side problems of materials, labor and lots, problems attracting buyers were not as widespread last year, but builders expect many of them to become more of a problem in 2019. Negative media reports making buyers caution was a significant problem for 48 percent of builders in 2018, but 62 percent expect it to be a problem in 2019,” Chaluvadi said. He also noted that concern about employment/economic situation was a problem for only 28 percent of builders in 2018, but 46 percent expect it to be a problem this year.Here’s what else is happening in the Week Ahead.Black Knight Mortgage Monitor, MondayCoreLogic Home Price Insights Report, TuesdayMBA Mortgage Applications Survey, WednesdayEllie Mae Millennial Tracker, WednesdayFreddie Mac Primary Mortgage Market Survey, Thursday Sign up for DS News Daily Construction Employment Labor Sales Week Ahead 2019-03-29 Seth Welborn The Best Markets For Residential Property Investors 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. Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Equifax and FICO Announce Strategic Partnership Next: Tromberg Law Group Takes on Virginia Home / Daily Dose / The Week Ahead: Eye on Employment The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News  Print This Post Tagged with: Construction Employment Labor Sales Week Ahead The Week Ahead: Eye on Employmentlast_img

House Releases Amicus Brief on CFPB Constitutionality Case

first_img Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago January 27, 2020 1,628 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save CFPB House of Representatives 2020-01-27 Seth Welborn About Author: Seth Welborn in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago The U.S. House of Representatives has filed an Amicus Brief with the U.S. Supreme Court in the case of Seila Law LLC V. Consumer Protection Bureau. According to the brief, the House of Representatives believes that the case has no bearing on the constitutionality of the Bureau,  and as such, the Supreme Court should resolve this case without deciding on the constitutionality of the Bureau.In the case, Seila Law alleges that the structure of the agency grants too much power to its director. According to court papers, given the CFPB’s broad law enforcement powers, the fact that the president may only remove the director of the CFPB “for inefficiency, neglect of duty, or malfeasance in office” is unconstitutional. In May, the CFPB beat Seila Law before a panel of the 9th U.S. Circuit Court of Appeals.Following the brief, Speaker of the House Nancy Pelosi and Chairwoman of the House Committee on Financial Services Maxine Waters released statements regarding the Amicus Brief, addressing the Bureau’s constitutionality.According to Speaker Pelosi, the Bureau’s independence is “essential.”“Led by Financial Services Committee Chairwoman Maxine Waters, House Democrats will continue to be vigilant in ensuring the Administration respects the independence of the Consumer Bureau so that it can continue its mission to protect American families against reckless and predatory practices in the financial marketplace, and strengthen the economic security of all,” Speaker Pelosi stated.Chairwoman waters echoed Pelosi, defending the Bureau’s position.“I applaud Speaker Pelosi for her commitment to ensuring that the Consumer Bureau can serve as a strong independent regulator to protect hardworking American consumers,” she said.The Supreme Court will be hearing the case of Seila Law LLC V. Consumer Protection Bureau on March 3, 2020. According to American Enterprise Institute Senior Fellow Peter J. Wallison, there is more at stake than just the constitutionality of the Bureau.On Real Clear Politics, Wallison argues that this CFPB case is an example of Congress enacting “broadly  phrased laws, essentially delegating the key legislative choices to administrative agencies and violating the Framers’ constitutional plan of separation.”As Wallison says, “the president has the power through the appointment and removal of executive officials to carry out the policies he was elected to pursue.” Demand Propels Home Prices Upward 2 days ago Tagged with: CFPB House of Representatives 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. center_img Subscribe Sign up for DS News Daily Home / Daily Dose / House Releases Amicus Brief on CFPB Constitutionality Case Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago House Releases Amicus Brief on CFPB Constitutionality Case The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Related Articles Previous: HUD Touring the Nation, Speaking on Affordable Housing Next: Inheriting an Underwater Home The Best Markets For Residential Property Investors 2 days agolast_img