Ocwen’s Servicer Ratings Upgraded to ‘Positive’

first_img Ocwen’s Servicer Ratings Upgraded to ‘Positive’ Previous: Freddie Mac Expands STACR Program With High LTV Offering Next: What to Remember When Buying an REO Property Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago September 14, 2015 841 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Ocwen Loan Servicing, LLC recently received an upgrade in their rating outlook from stable to positive due to stronger risk management framework and management oversight, according to a Servicer Report from Fitch Ratings.In February 2015, Ocwen experienced rating downgrades to stable due to weak corporate governance and operational control framework. However, in June 2015, the company’s ratings were pushed up to positive as Ocwen strengthened their risk management framework and management oversight.Among the ratings, which were all labeled as RPS4 were: Primary Prime, Primary Alt-A, Primary Subprime, Primary HELOC, and Specialty Closed-End Second Lien.One of the key rating drivers was Ocwen’s commitment to alleviate governance and operational control weaknesses within the company, which include changes to its “three lines of defense” approach to risk management, expansion of regulatory compliance and compliance testing departments, and completion of a risk and control self-assessment (RCSA) process.Another contributor to Ocwen’s rating change a shift in focus on PLS servicing, where the company initiated a strategy to sell off a large portion of it mortgage servicing rights (MSRs). The company has closed or entered agreements to sell MSRs on about $90 billon in unpaid balance (UPB) of performing agency loans.Fitch also reported that Ocwen’s use of a highly integrated technology environment and concentration on off-shore servicing operations were also major contributors to the upgrade.Although Ocwen’s servicing operation has grown more than 300 percent in the past serveral years, their portfolio continues to decrease. Fitch found that the company has serviced 2,361,220 loans totaling $376.6 billion including 1,252,409 totaling $195.6 billion in non-agency residential mortgage-backed securities (RMBS) transactions as of March 31, 2015.Ocwen’s portfolio also includes 3.9 percent non-agency first lien prime, 8.1 percent first lien Alt-A, 28.6 percent first lien subprime, 1.7 percent HELOC, and 2.0 percent closed-end second liens by loan count.Click here to view Fitch Ratings’ complete Servicer Report. Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Ocwen’s Servicer Ratings Upgraded to ‘Positive’ The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Fitch Ratings Mortgage Servicers Ocwen 2015-09-14 Brian Honea Related Articles Share Savecenter_img  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fitch Ratings Mortgage Servicers Ocwen Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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 in Daily Dose, Featured, News Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Demand Propels Home Prices Upward 2 days ago About Author: Xhevrije West Subscribelast_img read more

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Education’s Influential Role in Home Purchase Decisions

first_imgSubscribe  Print This Post Is Rise in Forbearance Volume Cause for Concern? 2 days ago Education’s Influential Role in Home Purchase Decisions Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Previous: Overcoming the Barriers to Homeownership Next: Mortgage Round-Up: Rates Slip Near 2016 Lows, Applications Drop Households in which at least one member has a bachelor’s degree has increased 24 percent since 1991, and is expected to increase further as millennials graduate from college and enter the workforce, the report said. In 1990, the difference in homeownership rates among those without a high school degree versus those with a bachelor’s degree or higher was 15 percent. In 2015, however, educational homeownership gap has almost doubled to 28 percent. In addition, there is a 40 percent difference in the homeownership rate between those in the lowest income bracket versus those in the highest.”It is no accident that the states and markets with growing educational attainment rates are also often the same places with significant improvements in homeownership levels,” Fleming said. “Education is, as never before, a key to accessing the dream of eventually owning a home.”Fleming continued, “Homeownership is one of the most important tools for wealth creation, and the single largest source of wealth for most low-and middle-income Americans. The homeownership gap is widening by educational attainment level. Education is increasingly important to achieving the American Dream of homeownership, as home prices rise and qualifying for a mortgage in most cases requires good credit and consistent documented income. The good news is that educational attainment levels are improving nationally, so we are on the right track.” May 6, 2016 1,481 Views Share Save Tagged with: American Dream Education First American Financial Homeownership The Week Ahead: Nearing the Forbearance Exit 2 days ago in Featured, News Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Servicers Navigate the Post-Pandemic World 2 days agocenter_img Home / Featured / Education’s Influential Role in Home Purchase Decisions Servicers Navigate the Post-Pandemic World 2 days ago American Dream Education First American Financial Homeownership 2016-05-06 Brian Honea About Author: Xhevrije West Related Articles The progression of homeownership across the U.S. is declining and educational attainment is a leading factor in the direction of these numbers.First American Financial Corporation’s Homeownership Progress Index released Thursday determined that the falling homeownership progress in the U.S. shares a special correlation with education levels of consumers.According to the report, the index declined 1.8 percent year-over-year, and is down 7.6 percent from the peak in 2005. In addition,the index is currently just 0.4 percent above the 25-year low point set in 1995.”Homeownership’s year-over-year decline in 2015 is no longer a story of economics and a housing crisis correcting the excesses of the mid-aughts. Tectonic demographic shifts taking place as the economy transitions from Baby Boomers to Millennials are causing homeownership rates to transition, too,” said Mark Fleming, Chief Economist at First American. “Increasing educational attainment levels will improve the prospect of achieving the American Dream in the long-run, but the timing of important lifestyle decisions will have significant impact on homeownership in the near term.”According to the report, people with higher education levels are more likely to earn higher incomes and own homes. First American ultimately determined that educational attainment and income level are key to homeownership. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago “It is no accident that the states and markets with growing educational attainment rates are also often the same places with significant improvements in homeownership levels.”Mark Fleming, Chief Economist, First American The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

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2017 Market Primed for Rental Investments

first_imgHome / Daily Dose / 2017 Market Primed for Rental Investments  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles February 27, 2017 1,600 Views Sign up for DS News Daily Previous: Fannie Mae Secures Second CIRT Transaction Next: Interest Rates Continue Trend Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Aly J. Yale 2017 Market Primed for Rental Investments The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Tagged with: Investments Rental RentRange 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 Demand Propels Home Prices Upward 2 days ago Aly J. Yale is a freelance writer and editor based in Fort Worth, Texas. She has worked for various newspapers, magazines, and publications across the nation, including The Dallas Morning News and Addison Magazine. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more. The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured Share Save The market is primed for rental investors this year, as a recent report from RentRange reveals slowing rent growth and low vacancies across the country.”As we begin 2017, it continues to look bright for single-family rental investors,” said Wally Charnoff, CEO of RentRange. “Compared to the Q3 2016 change in rent, we are seeing the percentage change begin to lessen while rents continue to increase, which should ultimately stabilize demand, keeping vacancy rates down. It remains important for investors to look at stability within a market, focusing on the market’s activity over time to ensure there is a good balance—low historical volatility with a current upswing.”According to RentRange’s ranking of the top 25 U.S. metro areas, the McAllen-Edinburg-Mission, Texas, area took the No. 1 spot for year-over-year rent increases, with a 12.9 percent jump from 2015. Next on the list was Cape Coral-Fort Myers, Florida, which saw a 10.9 percent jump, and Portland-Vancouver-Hillsboro, Oregon/Washington, which saw a 10.6 percent hike. Denver-Aurora, Colorado, and Seattle-Tacoma-Bellevue, Washington, rounded out the top five.The slowest rent growth was seen in Orland-Kissimmee-Sanford, Florida, which rose just 4.8 percent over the year. Lakeland, Florida; Charleston-North Charleston, South Carolina; Milwaukee-Waukesha-West Allis, Wisconsin; and Myrtle Beach-Conway-North Myrtle Beach, South Carolina, were also among the slowest, all seeing 5 to 5.4 percent growth.Though it wasn’t one of the slowest markets for rent growth, San Francisco did see its position drop over last year’s. This could spell improving affordability for the market.“While rents remain high in the Bay Area, San Francisco dropped several positions, indicating that the year-over-year rent change was not as significant as seen in past years,” the report stated. “Comparatively, San Jose made the list as a new addition in Q4 2016.”RentRange also identified the average vacancy rates for the top 25 metropolitan areas. The highest rates were seen in the Southeast; Myrtle Beach and Charleston, South Carolina, saw a 20.4 percent and 10.5 percent vacancy rate, respectively.“In these areas, builders and investors may need to compete for a limited number of renters,” the report stated. “An oversupply of new properties can drive up the vacancy rate and eventually push rental rates down. This scenario is currently happening in Myrtle Beach, where more than 3,100 new homes were built in 2015, a 94 percent increase compared to two years earlier.”To see the full list of rankings, click here. Investments Rental RentRange 2017-02-27 Staff Writerlast_img read more

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FHA Amends Reverse Mortgage Rules

first_img FHA Amends Reverse Mortgage Rules  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Subscribe Home / Daily Dose / FHA Amends Reverse Mortgage Rules Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily 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. Previous: Ocwen Ready to Close on PHH Acquisition Next: Freedom Mortgage Ranks on Inc. 5000 List About Author: Seth Welborncenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago September 28, 2018 4,336 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: FHA HUD Recerse Mortgage in Daily Dose, Featured, News, REO, Secondary Market Demand Propels Home Prices Upward 2 days ago Share 1Save Servicers Navigate the Post-Pandemic World 2 days ago The Federal Housing Administration (FHA) recently announced that it will begin requiring lenders originating new Home Equity Conversion Mortgages (HECMs), also known as reverse mortgages, to provide a second property appraisal under certain circumstances. According to the FHA, lenders must now provide a second independent property appraisal in cases where the Administration determines there may be inflated property valuations.The new requirement applies to case numbers assigned on or after October 1, 2018 through September 30, 2019. FHA will periodically review this guidance and, based on the results, may renew these after 2019.The FHA will perform a risk assessment of appraisals submitted for use in new HECM originations.  Based on the outcome of that assessment, FHA may require a second appraisal be obtained prior to approving the reverse mortgage for an insurance endorsement.Under the new policy, lenders must not approve or close a HECM before FHA has performed the collateral risk assessment and, if required, a second appraisal is obtained. Where a second appraisal is required by FHA, lenders must use the lower value of the two appraisals.The FHA states that this new appraisal validation policy will further reduce risks to FHA’s Mutual Mortgage Insurance Fund (MMIF) and protect the health of the HECM program.The FHA notes that the financial soundness of FHA’s reverse mortgage program is contingent on an accurate determination of a property’s value and condition. The property value is used to determine the amount of equity that is available to the borrower and it is also used by FHA to determine the amount of insurance benefits paid to a mortgagee.Additionally, he Department of Housing and Urban Development (HUD) and its paper titled “Reverse Mortgage Collateral: Undermaintenance or Overappraisal?” notes that the higher-than-expected losses in the HECM program can be attributed to optimistic estimates of collateral value driven by exaggerated property appraisals when the loan was originated.”The FHA’s letter to mortgagee’s can be found here. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago FHA HUD Recerse Mortgage 2018-09-28 Seth Welbornlast_img read more

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The Week Ahead: CFPB Director Headed for Capitol Hill

first_img Tagged with: CFPB Financial Services Committee Semi-annual report On Thursday, the House Financial Services Committee will hold its semi-annual review of the Consumer Financial Protection Bureau (CFPB). The hearing titled “Putting Consumers First? A Semi-Annual Review of the Consumer Financial Protection Bureau” will see Kathy Kraninger, Director, CFPB, making her first appearance before the committee after being confirmed to her current position.The hearing on Thursday will see Kraninger answering questions on issues raised by the House Financial Services Committee which include the recent settlements that “do not require companies that have violated the law to provide redress to consumers who have been harmed,” and about the changes in the payday lending rules that were recently announced by the CFPB.Recently, Rep. Maxine Waters, Chairwoman of the House Financial Services Committee wrote an open letter to CFPB employees in which she said that she would use the full range of the committee’s oversight authorities to “prevent any efforts to weaken the Consumer Bureau.” She had said that the CFPB was a key part of financial reform and was created as a key part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.”I have been concerned that actions taken, and changes made by Office of Management and Budget Director Mick Mulvaney were contrary to both the spirit and plain letter of the law and appear to be designed to frustrate the Consumer Bureau’s mission,” she said in the letter.Here’s what else is happening in the week ahead:Census Bureau Construction Spending report, Monday, 10 a.m. ESTCoreLogic Home Price Insights report, Tuesday, 10 a.m. ESTMBA Mortgage Applications, Wednesday, 7 a.m. ESTCensus Bureau New Home Sales, Wednesday, 10 a.m. ESTEllie Mae Millennial Tracker, Wednesday, 10 a.m. ESTFederal Reserve Beige Book, Wednesday, 2 p.m. ESTBlack Knight Mortgage Monitor, 9 a.m. ESTFed Balance Sheet, Thursday, 4:30 p.m. ESTCensus Bureau Housing Starts, Friday, 8:30 a.m. ESTBureau of Labor Statistics Jobs Report, Friday, 8:30 a.m. EST The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, News March 1, 2019 1,461 Views  Print This Post The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha Subscribe Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: CFPB Director Headed for Capitol Hill Related Articles Servicers Navigate the Post-Pandemic World 2 days agocenter_img Home / Daily Dose / The Week Ahead: CFPB Director Headed for Capitol Hill Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Ask the Economist with Skylar Olsen Next: The Problem With California’s Affordable Housing Goals Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Sign up for DS News Daily CFPB Financial Services Committee Semi-annual report 2019-03-01 Radhika Ojhalast_img read more

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Fannie Mae: Increased Education Needed for Borrowers

first_img Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Previous: The Impact of Opportunity Zones Next: The Long-Term Impact of the Uniform Mortgage-Backed Security Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Fannie Mae Housing Market 2019 2019-08-05 Mike Albanese Home / Daily Dose / Fannie Mae: Increased Education Needed for Borrowers Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fannie Mae Housing Market 2019 August 5, 2019 1,367 Views Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Demand Propels Home Prices Upward 2 days agocenter_img in Daily Dose, Featured, Government, News, Secondary Market Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Although the majority of Americans favor homeownership, Fannie Mae’s latest National Housing Survey revealed many overestimate the qualifications and what it takes to own a home. “Despite increased exposure to credit scores and online resources, consumer understanding about what it takes to qualify for a mortgage has not improved since our original study in 2015, potentially discouraging willing and qualified Americans from taking steps toward homeownership,” the GSE’s report, authored by Mark Palim and Sarah Shadad of Economic and Strategic Research, stated. Fannie Mae said that a 2018 study, which included an online survey of more than 3,000 respondents, found that more consumers reported seeing their credit scores, but close to half cannot recall what it is. Also, consumers overestimate the necessary credit score and down payment needed to qualify for a mortgage, remain unfamiliar with low down payment programs, and an overall lack of knowledge on mortgage qualification. “While viewing one’s credit score is a good start, consumers need to understand what to do with that information,” Fannie Mae said. “Although Americans are confident they could improve their credit score, monitoring a credit score is not the same as understanding how the score impacts their financial situation.”Fannie Mae added that mortgage education should be timely, customized, convenient, simple, and delivered when a potential borrower is making a decision on whether to buy or sell. Optimizing information for mobile devices will play a large role in closing the gap, especially for younger borrowers. “Some mobile apps already help consumers budget, invest, and manage debt. Mortgage tools could be integrated into more of these apps to provide step-by-step advice,” Fannie Mae said. Education is key for millennial buyers as a June Business Wire report found that 76% of millennials feel confident about how to sell a home, despite never doing it. The National Association of Realtors published a report that found that home sellers younger than 28-years old represented just 2% of the homes sold in 2018. The report also found that 76% of older millennials (ages 29-38) were selling a home for the first time. The Best Markets For Residential Property Investors 2 days ago Subscribe About Author: Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae: Increased Education Needed for Borrowers Demand Propels Home Prices Upward 2 days ago Share Savelast_img read more

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Wildfires and Housing: Knowing the Risks

first_imgHome / Daily Dose / Wildfires and Housing: Knowing the Risks  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Damage Disaster wildfire 2019-09-12 Seth Welborn in Daily Dose, Featured, Loss Mitigation, News The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Global Fears Spark Increase in Mortgage Rates Next: Foreclosure Activity’s Ups and Downs The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Seth Welborn According to data from CoreLogic, 2004 was the first time over 8 million acres burned in one year. During the next 14 years, more than 8 million acres burned annually another eight times, making nine of the last 14 years the highest annual totals of burned wildfire acreage. After several years of these record-breaking wildfires, The 2019 CoreLogic Wildfire Risk Report analyzed properties at risk of damage from wildfires in the United States.CoreLogic’s study revealed not only a continuation of fires and associated destruction in the United States but an escalation of these events. Based on an analysis by CoreLogic for 2019, there are 775,654 residential properties at extreme risk of wildfire damage in the 13 Western states, with a reconstruction cost value (RCV) of just over $221 billion.Due to both their larger geographic size and large populations, California and Texas lead the United States in the number of residences and RCV in the high- and extreme-risk categories. Both states contain fuels and terrain that contribute to higher risk classifications and have population centers near high-risk areas. Colorado, which has experienced several record-setting fires since 2010, ranks third for the number of homes in both the high and extreme categories. While other states tend to have fewer properties, of the remaining 10 states, half have more than 50,000 residences in the high- and extreme-risk categories combined.California, however, cannot be topped when it comes to wildfire devastation over the past two years. In 2017, California’s wildfires, including the Tubbs Fire and the Thomas Fire dwarfed previous records for both the size of the fires and the amount of destruction. In 2018, new records were set again for both categories, along with the number of deaths for a single wildfire event, the Camp Fire.“When considering the future of wildfire risk in the Western United States, it will likely expand to more homes and result in the greater property losses than we have seen in the past,” said CoreLogic. “As unfortunate as it sounds, there are other communities similar to Paradise where fuels are present and homes are at risk. It only requires the right weather conditions and an errant spark to create the next unwanted record.” Tagged with: Damage Disaster wildfirecenter_img The Best Markets For Residential Property Investors 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 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 ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago September 12, 2019 1,169 Views Wildfires and Housing: Knowing the Risks Sign up for DS News Daily Subscribelast_img read more

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Is Housing the Economy’s Saving Grace?

first_imgHome / Daily Dose / Is Housing the Economy’s Saving Grace? Related Articles Is Housing the Economy’s Saving Grace? Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Tagged with: Economy Housing Market 2019 The Best Markets For Residential Property Investors 2 days ago Economy Housing Market 2019 2019-10-25 Mike Albanese fcd1aa2d-5b26-4754-ab6b-8342360620f8In the face of slowing growth and lingering trade tensions, commentary from CNN states that the U.S. economy needs housing to continue improving to “keep the current recovery alive.”The National Association of Home Builders reported earlier in October that builder sentiment is at its highest level since February 2018, and this year’s increase is the biggest 10-month change in more than six years.   “The housing rebound that began in the spring continues, supported by low mortgage rates, solid job growth and a reduction in new home inventory,” said Greg Ugalde, NAHB Chairman. Robert Dietz, NAHB Chief Economist, said the gains in single-family construction during the second half of 2019 is mirrored by the rise in builder sentiment over the past few months. Dietz, though, added builders “continue to remain cautious” due to ongoing supply considerations and concerns over an economic slowdown.”With homebuilder sentiment so strong, it’s hard to imagine that the economy is on the cusp of a downturn,” said analysts at Bespoke Investment Group in the CNN report. CNN added that “there seems to be no end in sight” to the housing boom in many parts of the U.S. Additionally, CNN says that historically-low mortgage rates is a key factor in housing growth in 2019.”There is no better sentiment than people willing to make 30-year commitments for a home,” said JJ Kinahan, Chief Market Strategist with TD Ameritrade, in the piece. “When people have jobs, they are willing to spend money. The solid housing market is the side effect of a great job market.”In its latest release, however, Freddie Mac stated that the average rate of a 30-year fixed-rate mortgage rose to its highest level in 12 weeks to 3.75%. In an effort to stimulate the economy, the Fed cut interest rates twice in 2019, with the most recent decrease coming in September. The Fed lowered its overnight lending rate to a target rate of 1.75% to 2%. Despite the rate cut, which had been anticipated since the rate cut earlier this year, Reuters reports that seven of 17 policymakers projected one more quarter-point rate cut in 2019, signaling divisions in the Fed. The Best Markets For Residential Property Investors 2 days ago About Author: Mike Albanese Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville.  Print This Post Demand Propels Home Prices Upward 2 days agocenter_img 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, Market Studies, News Share Save Servicers Navigate the Post-Pandemic World 2 days ago October 25, 2019 2,080 Views 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: Former Fannie Mae CEO Talks Challenges Ahead in Housing Next: Executive Changes to Flagstar Bank Subscribelast_img read more

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New Challenges to Vacancy Rates

first_img in Daily Dose, Featured, Loss Mitigation, News, REO March 11, 2020 1,964 Views Demand Propels Home Prices Upward 2 days ago New Challenges to Vacancy Rates Abandoned Homes Vacancy 2020-03-11 Seth Welborn National vacancy rates in the fourth quarter 2019 were 6.4% for rental housing and 1.4% for homeowner housing, according to the U.S. Census Bureau. The rental vacancy rate of 6.4% was not statistically different from the rate in the fourth quarter 2018 (6.6%), but 0.4 percentage points lower than the rate in the third quarter 2019 (6.8%). The homeowner vacancy rate of 1.4% was not statistically different from the rate in the fourth quarter 2018 (1.5%) and virtually unchanged from the rate in the third quarter 2019.Danielle Hale, Chief Economist for realtor.com, commented on how vacancies may be shaped by the coronavirus outbreak.”Looking forward, in 2020 the housing market continues to grapple with similar challenges: not enough home building leads to few homes available for sale, especially relative to the number of interested buyers,” Hale said. “This leads to fast-moving housing markets and rising prices, which will likely be propelled even higher by 2020’s lower mortgage rates. There are new challenges, such as COVID-19, that buyers and sellers will face, but the data from 2019 shows that despite market conditions that are less-than ideal, buyers are generally achieving success in their pursuit of the American Dream of homeownership. The data also shows that, particularly for some age groups and races, there is still room for improvement.”The homeownership rate of 65.1% was not statistically different from the rate in the fourth quarter 2018 (64.8%) nor from the rate in the third quarter 2019 (also 64.8%). The fourth quarter 2019 rental vacancy outside Metropolitan Statistical Areas (7.4%) was higher than the rate in the suburbs (5.9%), but not statistically different from the rate in principal cities (6.7%).The rental vacancy rates in principal cities, in the suburbs, and outside MSAs were not statistically different from the fourth quarter 2018 rates. The homeowner vacancy rate in outside MSAs (1.6%) was higher than the rate in the suburbs (1.3%), but not statistically different from the rate in principal cities (1.5 percent). The homeowner vacancy rate in the suburbs was lower than the fourth quarter 2018 rate, while rates in principal cities and outside MSAs were not statistically different from the fourth quarter 2018 rates.The fourth quarter 2019 rental vacancy rate was highest in the South (8.2%) followed by the Midwest (6.8%), the Northeast (5.2%), and the West (4.4%). The rental vacancy rates in each region were not statistically different from the fourth quarter 2018 rates. The homeowner vacancy rate in the South (1.6%) was higher than in the Northeast (1.3%) and the West (1.2%), but not statistically different from the Midwest (1.3%). Homeowner vacancy rates in the Northeast, Midwest, and West were not statistically different from each other. The homeowner vacancy rates in each region were not statistically different from the fourth quarter 2018 rates. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Abandoned Homes Vacancy 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. Subscribe  Print This Postcenter_img The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / New Challenges to Vacancy Rates Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share 2Save Previous: Fannie Mae Transfers $12B in Unpaid Principal Balance Next: President Trump Announces Coronavirus Response Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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People urged to shop local this Christmas

first_img Previous articleConcern after homes burgled in Raphoe area over the weekendNext articleGardai oppose Christmas night late drinks extension News Highland NPHET ‘positive’ on easing restrictions – Donnelly Calls for maternity restrictions to be lifted at LUH Twitter Twitter Facebook WhatsApp Three factors driving Donegal housing market – Robinson By News Highland – December 9, 2013 Facebook Pinterest Google+center_img Pinterest People urged to shop local this Christmas Help sought in search for missing 27 year old in Letterkenny RELATED ARTICLESMORE FROM AUTHOR Google+ News Guidelines for reopening of hospitality sector published WhatsApp 448 new cases of Covid 19 reported today “Support your local economy by shopping local.”That’s the message from Sinn Fein councillor Ciaran McLaughlin in the build-up to Christmas.The festive period is generally the busiest time of the year for retailers.Last year saw a strong Christmas trade in many towns around the county, and the Buncrana Town councillor has called for it to continue this year.He stated that supporting local businesses can have implications for the wider community…[podcast]http://www.highlandradio.com/wp-content/uploads/2013/12/ciar6.mp3[/podcast]last_img read more

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