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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President Obama to serve second term

first_imgMembers of Notre Dame College Democrats took over the first floor of LaFortune Student Center Tuesday night to watch state-by-state election results come in. Students arrived as early as 7 p.m. and stayed throughout the evening, which culminated in President Obama winning a second term as President. Juniors Vanessa Silva and Zach Agudelo came clad in their College Democrats shirts and eagerly watched the night’s coverage.    “I’m a political science major, so this stuff fascinates me,” Silva said. “I feel very passionate about Romney not winning so I’m here watching sadly [referring to the close results].  But hopefully that will change.” Agudelo is also a political science major who interned with Brendan Mullen, the Indiana 2nd District candidate for the House of Representatives, during this campaign season. “I’m pretty nervous about it,” Agudelo said.  “I interned with Mullen so I’m looking forward to seeing how that turns out.  I’m also from Maryland and sent in my absentee ballot for the first time. Obama will win Maryland, so that’s good.” Freshmen Kevin King and Matt Munhall said they have been closely following the election and were excited to vote for the first time. “I’ve been paying attention to the news this whole campaign cycle and following it pretty closely,” Munhall said.  “I’m from Arizona and voted with an absentee ballot.  I love that in America we can have free, fair and peaceful elections every four years and that no matter the outcome we’ll move forward as a nation to stop our problems.” They also agreed the atmosphere of the College Democrats’ election watch was electric. “Active democratic participation is what moves America forward,” Munhall said.  “I think it’s interesting how in this room everyone is on their laptop checking their Twitter feeds every five seconds, checking the polls.” King has been working on and off for the Donnelly and Mullen campaigns, he said. “I guess the only thing that could make [the election watch] better is if Obama was here himself,” King said.  “I’m definitely excited to see how [the election] turns out.” Sophomore and political science major Kevin Fernandez said he was pleased with the welcoming, friendly atmosphere of the election watch. “I thought everyone was going to be kind of in cliques watching on their own; I didn’t think it would be as friendly as it is,” Fernandez said.  “Everybody is talking and cheering as everything comes in.  I’ve been anxious and worried all day, waiting for 7 p.m., for when it starts to matter.  Nothing can pry my eyes off election coverage.  I’m going to stay here a long time.” Freshman Zoe Rote, who has lived in two key states for the election, said she was specifically watching their numbers come in across the news reports. “I’m from North Carolina, but I grew up in Colorado,” Rote said.  “So it’s been very exciting having allegiance to two swing states and closely following their progress.” Rote and freshman May Stewart said they planned to stay at the club watch until the final results across the country came in. “Nobody needs sleep, this is important,” Stewart said. Freshman Connor Hayes didn’t hold back his celebration when Democratic candidate Elizabeth Warren was predicted to win in her race for the Massachusetts Senate seat. “I’m incredibly hopeful about Elizabeth Warren’s tenure in the Senate because she’s very unabashed in her views, and I think she’ll add a refreshing liberal presence,” Hayes said. Hayes also said he enjoyed being surrounded by other Democrats during the election watch. “I came because I really enjoy watching this with other people and seeing how energized my peers are about the election,” Hayes said.  “When you’re watching it alone with just a few friends you tend to lose hope.”  Graduate Will McBurney predicted the early announcement as he waited for what he considered to be a shoe-in victory for Obama. “Obama is definitely going to be president,” McBurney said. “The only two states left are really Virginia and Florida. To be honest, I am probably more excited about Romney not being president.” Just before midnight, Obama’s re-election brought deafening cheers and endless excitement among the Democrats in LaFortune. “It’s heartening that we don’t have an issue like we did in 2000, when the election was so close and so drawn out,” Hayes said.  “I’m just so thrilled to know that when I graduate it will be the result of four more years of Obama’s policies, so incredibly excited for this whole new administration to take on Washington.”last_img read more

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CAF Confed Cup: Enyimba Crash out

first_imgEnyimba FC Nigeria’s last team in continental football, Enyimba FC of Aba lost 2-1 to Raja Casablanca of Morocco in the second leg of the semi final of the 2018 CAF Confederation Cup last night to exit the competition.Enyimba had lost the first leg 1-0 at home in Aba to crash out on 3-1 aggregate. Rangers is to represent Nigeria in the competition next year following it’s victory over Kano Pillars wednesdayCHAMPIONS LEAGUEResultsBarcelona 2-0 InterPSV 2-2 TottenhamLiverpool 4-0 ZvezdaPSG 2-2 NapoliGalatasaray 0-0 Schalke 04Lokomotiv 1-3 PortoDortmund 4-0 AtleticoBrugge 1-1 MonacoShare this:FacebookRedditTwitterPrintPinterestEmailWhatsAppSkypeLinkedInTumblrPocketTelegramlast_img

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