The Rise and Fall of Serial Refinancers

Home / Featured / The Rise and Fall of Serial Refinancers About Author: Xhevrije West Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Black Knight Financial Services Mortgages Serial Refinancers 2016-04-04 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: DS News Webcast: Monday 4/4/2016 Next: New Opportunities in the Evolving REO Landscape Is Rise in Forbearance Volume Cause for Concern? 2 days ago April 4, 2016 1,712 Views 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 ago Tagged with: Black Knight Financial Services Mortgages Serial Refinancers Subscribe in Featured, News The Rise and Fall of Serial Refinancers  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Homeowners eager to lower their mortgage payments by refinancing their home more than once have returned to the housing market. Their last debut occurred during the housing boom.Black Knight Financial Services February 2016 Mortgage Monitor report found that serial refinancers played a large role in the rise and fall of refinance volumes throughout 2015 driven by interest rate fluctuations.According to the report, rate and term refinances from borrowers who’ve had their prior mortgage for less than 2 years rose by 800 percent from the first quarter of 2014 to the first quarter 2015 as interest rates dropped. Of these borrowers, two-thirds of these refinances in the fourth quarter were from borrowers who had their mortgage from less than four years.During the housing peak from 2005 to 2006 nearly all refinance volume was coming from borrowers who held their prior mortgage for less than 4 years, Black Knight reported.Although interest rates have been on a roller coaster of fluctuations over the last year,rate and term refinances from borrowers who’ve held their mortgage for less than six years have remained steady.”Term reductions remain popular among borrowers taking advantage of low rates; not surprisingly they are more popular among more aged loans, as borrowers don’t want to restart the clock on their mortgage,” the report said.Black Knight found that 37 percent of rate and term refinances in the fourth quarter of 2015 included a term reduction. The average loan age of term reduction refinances is 81 months (nearly 7 years) compared to 60 months for those with the same or an increased term. Meanwhile, only 3 percent of rate and term refinances included a term increase, which is historically low.As term reduction refinances grow in popularity, the active mortgage sector shifts as well: 5 percent of all active mortgages had 20-year original terms (highest share in over 10 years); 16 percent are 15-year original term; and 2.5 percent are 10- year original term (down slightly from last year), according to Black Knight.Click here to view the full report. The Best Markets For Residential Property Investors 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Related Articles read more

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Financial Regulation in the Trump Era

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Donald Trump Financial Regulation Donald Trump Financial Regulation 2017-03-20 Staff Writer Servicers Navigate the Post-Pandemic World 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 March 20, 2017 3,406 Views The Best Markets For Residential Property Investors 2 days ago  Print This Post Subscribe Related Articles Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Servicers Navigate the Post-Pandemic World 2 days ago Financial Regulation in the Trump Era Share Save Sign up for DS News Daily Previous: BofA Fulfills Settlement Ahead of Schedule Next: HouseCanary Announces Collaboration With Google With the current administration at the helm, everyone expects plenty of change to happen, particularly in financial regulation and the lending industry. In a brief titled “Financial Regulation in the Era of Donald Trump” for Indiana State University Networks Financial Institute, Chris Whalen states that the passage of the 2010 Dodd-Frank law and the regulations and legal undertakings that followed it put the U.S. financial sector under the greatest constraints since the Great Depression.“In the aftermath of the 2008 financial crisis, the focus of politicians in both parties was to punish banks and other financial services companies for a variety of offenses, real and imagined,” says Whalen. “In many respects, the provisions of the Dodd-Frank law were designed to chastise banks and other companies for perceived wrong doing, especially abuses of consumers.”The question now is how will Trump administration deal with financial regulation, and where does financial regulation rank on the list of priorities?A challenge that will need to be addressed is the problem of “too big to fail.” . Whalen notes that the aftermath of the bailouts caused widespread anger. This anger increased dramatically in the following foreclosure crisis.“Meanwhile, virtually no executives of the major U.S. banks and financial institutions were subject to legal sanctions for acts of financial fraud and malfeasance,” Whalen says. “Instead the victims of the 2008 crisis–namely the shareholders of the largest financial institutions–have been repeatedly punished via fines and lopsided legal settlements.”Regulatory entities are already high-priority targets for President Trump, most notably the Consumer Financial Protection Bureau (CFPB). The president’s team has indicated support of the Financial Choice Act, which, among other things, would modify aspects of Dodd-Frank. The Choice Act would help to reform the CFPB, which, according to Whalen, “has been especially harmful to the mortgage industry and has caused the cost of servicing a mortgage to rise several fold since 2008.”Additionally, the Choice Act would give regional and community banks a way to avoid most aspects of Dodd-Frank regulations, and a policy of bankruptcy not bailouts, which would force big bank’s parent companies to file bankruptcy and restructure, instead of the current Dodd-Frank policy which allows for bailouts.“Some or all of the provisions of the Financial Choice Act could eventually become law. A modified version of legislation could be made palatable to both parties in the Senate and, despite Democratic opposition, could become law far more easily than either a tax reform bill or ACA reform,” Whalen concludes. “There are a number of other issues that may catch the attention of the new President next year, but an amended version of the Financial Choice Act has the highest probability of success in 2017. Needless to say, the financial services industry including banks, insurers and nonbank financial institutions will be very supportive of passage of some form of the Financial Choice Act.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Financial Regulation in the Trump Era The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Staff Writerlast_img read more

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115th Congress: Fall Legislative Agenda

first_img About Author: Joey Pizzolato The Best Markets For Residential Property Investors 2 days ago Tagged with: 115 Congress in Daily Dose, Featured, Government, Headlines, News Previous: Best Practices for Servicing FHA Loans Next: Freddie Mac Perspectives Blog: G-Fees and CRT Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / 115th Congress: Fall Legislative Agenda Subscribe Demand Propels Home Prices Upward 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily  Print This Postcenter_img September 5, 2017 1,423 Views Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 115th Congress: Fall Legislative Agenda 115 Congress 2017-09-05 Joey Pizzolato Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The 115th Congress reconvened on Tuesday after the summer recess, and will have to hit the ground running if they are going to accomplish all items on the agenda, according to the National Association of Federally-Insured Credit Unions.The end of September brings a number of deadlines: first, funding for the fiscal year, which begins in October, needs to be approved. With that, the debt ceiling will need to be raised in order to allow the Treasury Department to borrow money for Hurricane Harvey relief. Although it is not yet drafted, Treasury Secretary Steve Mnuchin said in a recent interview that he would like to see legislation for hurricane relief funds be tied to an increase in the debt ceiling. The Nation Flood Insurance Program will also need to be reauthorized before September’s close.There has been talk of the Senate invoking the Congressional Review Act to remove the Consumer Financial Protection Bureau’s arbitration clause, which allows consumers to file class action lawsuits, although no action has been taken.Various committees will also gather for hearings that could have implications for the mortgage and finance industries. The House Financial Services Subcommittee on Capital Markets, Securities, and Investments will meet to discuss the oversight of the financial industry’s regulatory authority, and the House Financial Services Subcommittee on Financial Institutions and Consumer credit will review proposals for “a more efficient federal financial regulatory regime.”Confirmations hearings will also be taking place: the Senate Banking Committee will vote on Joseph Otting, President Trump’s nominee to be Comptroller of the Currency, and Randal Quarles, the president’s nominee as Federal Reserve governor. Pam Patenaude, who was nominated to be the U.S. Department of Housing and Urban Development’s Deputy Secretary in June, is still waiting on a vote. Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Week Ahead: Beige Book Highlights Economic Conditions

first_img Tagged with: Beige Book HOUSING mortgage the week ahead Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Previous: Suburbs: Where Americans are Migrating Next: Quicken Loans Mortgage Services and CalyxSoftware Announce New Software 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 in Daily Dose, Featured, Headlines Home / Daily Dose / Week Ahead: Beige Book Highlights Economic Conditions Servicers Navigate the Post-Pandemic World 2 days ago The Summary of Commentary on Current Economic Conditions by Federal Reserve District plans to release its September Beige Book Wednesday. The book is designed to supplement the data and analyses already used by Federal Reserve economists to access economic conditions in 12 Federal Reserve Districts (including Dallas, San Francisco, New York etc.) The book is released eight times a year and produced roughly two weeks before the monetary policy meetings of the Federal Open Market Committee (FOMC).  By enabling the comparison of economic conditions in different regions, the Federal Reserve District can create an outlook for the national economy, creating an opportunity to characterize dynamics and identify emerging trends that aren’t readily apparent. This data is collected from reports by Bank and Branch directors, phone and in-person interviews, and online questionnaires completed by businesses, economists, market experts, and others. In the previous book release in August, business and consumer loan demand grew slightly with a number of Districts reporting banks and non-banks becoming more competitive. Residential construction overall increased slightly, but low inventories of homes for sale continued to influence residential real estate activity.The September Beige Book will be released Wednesday at 2:00 p.m. EST.This Week’s Schedule:Housing Market Index, Wednesday, 10 a.m. EST MBA Mortgage Applications, Wednesday, 7 a.m. ESTExisting Home Sales, Friday, 10 a.m. EST Senate Hearing, Tuesday, 10 a.m. EST Beige Book HOUSING mortgage the week ahead 2017-10-15 Nicole Casperson The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles About Author: Nicole Casperson Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago October 15, 2017 1,036 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Week Ahead: Beige Book Highlights Economic Conditions The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Postlast_img read more

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Q2 Rental Trend Update

first_imgHome / Daily Dose / Q2 Rental Trend Update in Daily Dose, Featured, Investment, Journal, Market Studies, News June 30, 2018 2,219 Views HotPads Q2 2018 Rent prices Single Family Rental 2018-06-30 David Wharton The Best Markets For Residential Property Investors 2 days ago Consumers on the hunt for a new rental home this summer can expect to pay higher prices than last year, especially for anyone searching for two- or three-bedroom homes. That’s according to the recently issued Q2 2018 HotPads Rent Report.HotPads reports that rent prices rose 2.8 percent over the past year for both two- and three-bedroom rentals. Two-bedroom rentals are averaging around $1,310 per month, whereas three-bedroom rentals are sitting at around $1,445 per month. In comparison, average rent for a one-bedroom unit was around $1,275 in Q2, up 2.2 percent year-over-year.In some cases, the rent price appreciation is obviously worse than in others. HotPads reports that median rent for a two or three-bedroom home is appreciating more than twice as fast as rent for a one-bedroom home in metros such as Baltimore, Washington, D.C., and Austin.Median rent overall was up 2.5 percent year-over-year, hitting $1,480 per month. With both home prices and rent on the rise across the nation, affordability concerns are deepening for many consumers looking to find a new home.“Rent growth has mellowed out to a steady rate recently, but overall prices are still high compared to recent years,” said Joshua Clark, Economist at HotPads. “Two and three-bedroom rentals are seeing the fastest pace of price growth this year, usurping one-bedrooms as the fastest-appreciating segment of the rental market in April 2018. New apartment construction tends to focus on studios and one-bedrooms, so the additional supply of smaller units has eased price pressures in that market segment. Renters looking for a larger apartment or home—including young families—should expect faster rent growth this year.”That’s good news for investors in the rental space. To read more about recent rental trends, click here to see recent relevant stories. 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Sign up for DS News Daily Related Articles Servicers Navigate the Post-Pandemic World 2 days agocenter_img  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: HotPads Q2 2018 Rent prices Single Family Rental Data Provider Black Knight to Acquire Top of Mind 2 days ago Q2 Rental Trend Update Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: David Wharton 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] Previous: Why Young Adults Can’t Afford the Homes They Want Next: Secretary Carson on Healthy Homes and Healthy Liveslast_img read more

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Making Diversity a Business Priority

first_img Servicers Navigate the Post-Pandemic World 2 days ago in Commentary, Daily Dose, Featured, News empowerment GSE HOUSING Lenders women 2019-09-26 Radhika Ojha Making Diversity a Business Priority The Best Markets For Residential Property Investors 2 days ago Tagged with: empowerment GSE HOUSING Lenders women  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Subscribe 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 A recent study by Stanford University, Northwestern University, Dartmouth College, and the Hong Kong University of Science and Technology has found that investors might prefer companies that have a higher number of women in the workforce. The reason? Jennifer Dannals, a Dartmouth researcher on the study told NPR that these participants valued companies with better gender diversity numbers because they expect those companies to be more innovative and creative.Another research by the Center for Creative Leadership shared similar results. “Previous research shows that Fortune 500 companies with the highest representation of women on boards financially outperform companies with the lowest representation of women on boards,” said Cathleen Clerkin, Strategic Research Manager at the Center for Creative Leadership in a blog. Moreover, the research suggested that gender-diverse teams have higher sales and profits compared to male-dominated teams, and a recent Gallup study found that gender-diverse business units have higher average revenue than less diverse business units. Needless to say, gender diversity is a business priority. It is a culture that companies like Fannie Mae believe should be fostered at all levels. Perhaps that is the reason that the GSE is participating in the 2019 Women in the Workplace study by McKinsey. “The findings will help us assess our initiatives, measure our performance against industry-wide trends, and identify additional opportunities to support our efforts to harness the power of our diverse and inclusive workforce,” said Nancy Jardini, SVP, Chief Compliance Officer, and Chief Office of Minority and Women Inclusion Officer, at Fannie Mae.Freddie Mac is also driving initiatives towards equality by building an infrastructure that supports a culture where all people can do their best work. Giving an example of equity issues related to women and minorities, Jacqueline Welch, Chief HR Officer and Chief Diversity Officer, Freddie Mac said that research showed that on average women and minorities earned less than their white male counterparts. It’s the reason the company doesn’t ask job candidates for their salary history. “This inequity has a cumulative effect throughout one’s career. That’s why putting candidates in a better position to self-advocate for an equitable salary is so important,” she said. According to Tammy Richards, COO, loanDepot. “As an industry, we can’t afford to ignore that 50% of our lending customers are female. Through D&I programs, companies can learn to better serve their diverse customer base and be a market leader,” she said. According to Suzy Lindblom, COO, Planet Home Lending, the industry has stepped up, created, and embraced great initiatives such as NEXT Conferences, mPower and Women in Housing, Real Estate Ecosystem (NAWRB) and National Association of Minority Mortgage Bankers of America (NAMMBA), all of which focus on the professional efforts of women in the financial industry. “Out of these organizations and others have come the recognition awards for the hard work that women have long demonstrated in molding our industry,” she told MReport recently.Explaining the basis of mPower (MBA Promoting Opportunities for Women to Extend their Reach) a networking group for female mortgage professionals, Lisa J. Haynes, SVP, CFO, and Chief Diversity & Inclusion Officer, Mortgage Bankers Association said that the group is meant to create a safe environment “where women professionals can feel comfortable sharing their honest experiences alongside their colleagues.”“Many organizations promote affinity groups for women, providing a forum for open dialogue and sharing challenges in the workplace, which they can discuss in a safe environment freely and receive advice without any fear of repercussion,” explained Colleen Winslow, Chief HR Officer, RoundPoint Mortgage Servicing Corporation. “I’ve also seen many organizations support having role models, women in power, guest speakers to provide tips and advice on how to navigate, communicate and self-promote.”  Another example is that of the resource groups for women at Fannie Mae and Freddie Mac. Fannie Mae’s Women’s Employee Resource Group (WERG) hosts events regularly on empowering topics such as career navigation, networking, and advocating for yourself at work. Additionally, WERG members and their guest speakers have addressed a variety of topics, including pressing for progress on gender parity. “While we know that diversity makes us a smarter, more innovative, and successful company, we are committed 100% to an inclusive workplace for all of our employees,” Jardini said.Freddie Mac is also reaching out to its vendors and suppliers to extend its D&I initiatives that promote gender equality. “We spend time thinking about and acting on ways to extend our reach to also include our suppliers. We actively work to grow and develop women-owned businesses and other diverse suppliers through our Vendor Academy,” Welch said. “Sometimes women have the perception that only one of us can succeed,” said Kristy Fercho EVP, President of Mortgage, at Flagstar Bank. “I try to expose women to other successful women in the industry, so they can gain confidence that there are plenty of opportunities for all of us to be successful, and through networking and support, we can continue to thrive in our careers and the industry.”In fact, coaching, mentorship, and sponsoring can be key to strengthening a woman professional’s career growth.Speaking of these relationships, Welch made some helpful distinctions. “A coach talks to you, usually over a defined period, and helps you upskill in a key area for your career growth. A mentor talks with you, usually over time, and provides insight and perspective as you navigate your career. A sponsor talks about you and uses their influence to help you obtain high-visibility assignments, promotions, or jobs. Research has shown that a culture of coaching, mentoring, and sponsorship can help accelerate career development for women.”“I have mentored, coached, and promoted female leaders because I truly believe in the importance of doing so. I am always amazed at how much I can learn from these interactions with other professional women,” Jardini said. “Each member of my leadership team brings a unique set of skills to the table, which contributes to the overall success of the team.”Despite these strides, and focus on progressing their careers, women face challenges in finding the work-life balance, more so than men—this is especially true when they’re balancing motherhood with work. “So many of the highest paying roles in mortgage banking feel out of reach for anyone who is considered the primary caregiver in the family,” said Brenda Jarvis, EVP, Business Development, TruLoan Mortgage. “Companies must find ways to be flexible with hours to allow the best talent to do the best work for every role and do away with old ideas that work must be performed during certain hours and in the office.” Giving her example, Richards said that as a mother of five, she faced many of the challenges that women traditionally faced as working professionals. “I emphasize on “traditionally” because today these challenges, such as juggling work/life balance while raising a family, are shared by men and women alike,” she said. “However, it’s still more common for women to try to overcompensate by attempting to prove their worth in the workplace or be something they’re not. Having this mindset is as outdated and detrimental as what we’re fighting to change—you’ll make a bigger difference by staying true to yourself.”Caroline Reaves, CEO, MCS shared a personal experience when she spoke recently to a group of aspiring female business professionals at Louisiana Tech University on finding the right balance. “I made some decisions early in life to raise a family while I worked,” she said. “I was a young mother and working and was able to move up. Slower at first because I wasn’t able to devote the time I would otherwise have liked to because I was raising a family.”For organizations that want to help women support those decisions, Kelly Hebert, Director of Sales Operations, LERETA advises offering maternity leave and support for new and returning mothers. “I believe the decision to start or expand your family disproportionately challenges women professionals. Those who lack support during these life-changing events are more likely to look for opportunities in more family-friendly organizations once they understand the effect their work/family life balance will have without a support system,” she observed. “I describe career ascension as a Christmas tree, not a ladder, it’s important to make horizontal moves sometimes to reach the top … and the view when you step back and look is much more complete and satisfying,” Winslow said. “I use my career journey as an example and it resonates with the women I speak with.”“The industry is always looking for top talent, and what is a better way to broaden the scope by actively seeking out the hidden talent,” Haynes said. She advised that men who want to make a difference must “be deliberate and intentional in supporting and empowering the mission of gender equality as well as actively participate in discussions involving diversity and inclusion.”But ultimately, Reaves said that women (and men) must choose what’s right for them and their family and make the most of that choice. “I am sure that I missed out on some career opportunities because being a wife and mom is so important to me. At the same time, I know that I had to make some sacrifices along the way to advance my career,” she said. “It’s important that we empower women to be who they want to be and focus on what’s important to them. Not every working woman wants to be an executive and not every female executive wants to have a family. The saying, “Women can have it all,” is not entirely true. There’s a finite amount of time each day, and that means we have to make choices. Let’s allow each woman to make her own choices about career and family. And support them in those decisions.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Commentary / Making Diversity a Business Prioritycenter_img 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 ago Related Articles Previous: ServiceMac Implements Collateral Loss-Mitigation Solution From DIMONT Next: The Industry Pulse: Updates on a360inc, Mortgage Cadence, and More About Author: Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago September 26, 2019 13,133 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Savelast_img read more

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Study: Most Americans Could Use a Third Stimulus Check

first_imgHome / Daily Dose / Study: Most Americans Could Use a Third Stimulus Check 2021-02-03 Christina Hughes Babb 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  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Veronica Bradley has covered the consumer packaged goods industry, the tech industry, the healthcare industry, and a few other industries that impact people’s daily lives. When she isn’t researching and writing, she moonlights as an amateur accountant and bookkeeper for a small family brewpub, because unlike most writers, she isn’t afraid of numbers. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Piggy banks, wallets, and bank accounts all over the country are feeling emptier than usual. The financial impact of COVID continues to make life very difficult for many Americans. In fact, 51% report that they will need a third stimulus check within the next three months in order to pay bills, according to the 2021 SimplyWise Retirement Confidence Index. The takeaways are grim. An all-time high number worry that they’ll never be able to retire—44% see themselves working for the rest of their lives. And 23% have no retirement plan at all. Compared to this time last year, 55% of people are more concerned about retirement. Black Americans are feeling more financial pressure than their white counterparts. 64% of Black Americans report they cannot last more than three months off of their savings, compared to 48% of white Americans. When it comes to the rent or mortgage, 45% of Black Americans now fear that they will fall behind on payments. That number for Hispanic Americans is 44%. It’s 28% for white Americans. “While the world is changing fast and things feel somewhat uncertain, staying both informed and empathetic with yourself and those around you will ensure that your future planning stays on track,” says Sam Abbas, CEO, SimplyWise.  Understanding your financial options can help you to find benefits, save smarter, and take control amidst today’s uncertainty.” Many people lost their jobs because of COVID, and 75% of those people say they couldn’t come up with $500 cash if they needed to.  And 25% of those aged 60 and older say they don’t have enough saved to last over three months, an all-time high. When it comes to Social Security beneficiaries, 69% of them have experienced at least one scam attempt in the last three months. The online, random sample survey from SimplyWise polled 1,029 Americans over the age of 18 between January 8 and 10, 2021.  The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Veronica Bradley Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News February 3, 2021 779 Views Related Articles Share Save Previous: FHFA Announces New General Counsel Next: The Power of the Right People Subscribe Study: Most Americans Could Use a Third Stimulus Check Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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HUD Reports on Health of Mutual Mortgage Insurance Fund

first_img Previous: How the Pandemic Has Changed Our View of Homes Next: Forbearance Plans Slide Below the 5% Mark Data Provider Black Knight to Acquire Top of Mind 2 days ago HUD Reports on Health of Mutual Mortgage Insurance Fund About Author: Christina Hughes Babb Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. in Daily Dose, Featured, Government, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago The Secretary of the U.S. Department of Housing and Urban Development (HUD), Marcia Fudge, on Tuesday released a statement on the quarterly report to Congress on FHA Single-Family Mutual Mortgage Insurance Fund Programs a year after the COVID-19 health and economic crisis.She says the health of FHA’s Mutual Mortgage Insurance Fund has remained resilient despite the financial challenges faced by homeowners with FHA-insured mortgages in 2020.”The fund stands at more than $80 billion and remains well above the 2% minimum capital reserve required,” Fudge said. “Through the pandemic, the FHA portfolio has experienced increased levels of seriously delinquent loans and a heightened level of loans in forbearance. We continue to monitor mortgage performance trends within our portfolio, particularly related to those homeowners who are struggling financially because of the pandemic.”She continued: “Tens of millions of families have been devastated by this pandemic, and housing has been a critical part of how we keep people safe. The FHA insurance program provides crucial access to credit and homeownership for first-time homebuyers, low-to-moderate income families, and households of color who have been historically underserved. We are committed to an equitable recovery and recognize the unprecedented moment and opportunity for HUD to lead the way.”Fudge says that in order to provide assistance to those struggling as a result of the pandemic, FHA took proactive policy steps in February to assist homeowners by extending foreclosure and eviction moratoria through June 30, streamlining COVID-19 loss mitigation options, and allowing longer forbearance for borrowers whose plans were expiring.”We are already starting to see the positive effects of the President’s immediate actions during the first weeks of his Administration to help the nation’s homeowners, but we have much more work to do,” she said. “The American Rescue Plan recently signed into law by President Biden includes crucial and unprecedented resources for housing, including nearly $10 Billion Homeowner Assistance Fund, to help homeowners behind on their mortgage and utility payments and avoid foreclosure and eviction.  The actions we are taking now will help position the FHA program to continue to fulfill its critical mission in the future.”She concluded: “Given the current FHA delinquency crisis and our duty to manage risks and the overall health of the fund, we have no near-term plans to change FHA’s mortgage insurance premium pricing. We will continue to rigorously evaluate our strategy and work transparently with Congress. Our number one priority is helping families keep their homes and remain safe as we work toward an equitable recovery.” Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save  Print This Post 2021-03-30 Christina Hughes Babb Home / Daily Dose / HUD Reports on Health of Mutual Mortgage Insurance Fund The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles March 30, 2021 7,475 Views Demand Propels Home Prices Upward 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Man remains in garda custody in Donegal

first_img Facebook By News Highland – April 23, 2012 Gardai in Buncrana are continuing to question a man who was arrested yesterday morning in relation to the murder of Andrew Allen in February.The 24 year old died after being shot through the window of his home at Lisfannon in February.The man, in his thirties, was arrested in an undisclosed location in County Donegal yesterday morning, and is being held at Buncrana Garda Station under Section 30 of the Offences Against the State ActThe 24 year old father of two is believed to have been shot by a group of three armed men. Pinterest Twitter NPHET ‘positive’ on easing restrictions – Donnelly Three factors driving Donegal housing market – Robinson Previous articleMan arrested by gardai as part of Andrew Allen murder investigationNext articleGardai probe Letterkenny car fire News Highland Twitter WhatsApp Help sought in search for missing 27 year old in Letterkenny Guidelines for reopening of hospitality sector publishedcenter_img Pinterest Google+ Man remains in garda custody in Donegal RELATED ARTICLESMORE FROM AUTHOR Newsx Adverts 448 new cases of Covid 19 reported today Calls for maternity restrictions to be lifted at LUH Google+ WhatsApp Facebooklast_img read more

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Council seek clarification on Glenties wind farm

first_img Previous articleBlaney defends scheme comments and dismisses MEP’s threatNext articleStrike impacting Council meetings News Highland Facebook WhatsApp Calls for maternity restrictions to be lifted at LUH Meanwhile Donegal County Council is awaiting further details on contentious plans for a wind farm near Glenties comprising of up to 35 turbines before deciding if the project can go ahead.In total, 63 objections have been made against the proposed development, mainly on the grounds of its scale, visual impact, noise and other risks.The turbines, each with a height of 80 metres and a blade diameter of 90 metres, would be located in a number of town lands in the Glenties area.Altogether, 54 houses would be located within 2km of one or more of the turbines with the majority within 1km and 6 within 250 metres.in a submission the Department of the Environment expressed concern that the proposed development could significantly damage or destroy the habitats of freshwater pearl mussel, Atlantic salmon and otter.The council has sort clarifications on a number of issues stating it had concerns about noise levels and pollution. News WhatsApp Three factors driving Donegal housing market – Robinson Facebook Google+ By News Highland – February 9, 2010 Google+center_img Pinterest Pinterest Help sought in search for missing 27 year old in Letterkenny Guidelines for reopening of hospitality sector published 448 new cases of Covid 19 reported today Council seek clarification on Glenties wind farm NPHET ‘positive’ on easing restrictions – Donnelly Twitter Twitter RELATED ARTICLESMORE FROM AUTHORlast_img read more

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