Economy Moving Closer to Normal

first_img Demand Propels Home Prices Upward 2 days ago After half a year of failed predictions and slow starts, the U.S. economy actually appears to be closing in on normal, at least according to Freddie Mac.Freddie Mac’s latest Economic and Housing Market Outlook shows that the agency expects to see the U.S. housing market driven once again by fundamentals—jobs, household formations, and affordability—rather than economic upheaval.Freddie Mac is basing its optimism on a recent report from the Bureau of Economic Analysis that shows that the GDP grew at a rate of 4.0 percent in the second quarter, leading economists at the company to calculate that the economy will grow an average of 3.3 percent in 2015.Household formations should increase, too. The Census Bureau reported that over the past four quarters, net household formations totaled only 458,000, and not the 1.2 to 1.3 million per year predicted by the Joint Center for Housing Studies at Harvard.According to Freddie Mac, slow household formation has resulted in a rise in the number of persons per household—which has increased by 2.6 percent since 2005, to 2.76 persons per household, on average. If persons-per-household had held steady at over that period, there would be an additional 3 million households today, the report states.Nevertheless, Freddie Mac expects household formations to pick up, and for housing starts to increase 28 percent (to 1.3 million starts) in 2015. If this happens, the report states, long-term interest rates will likely creep up, with 30-year fixed-rate mortgages reaching about 5 percent at the end of 2015. A recovering housing sector will sustain the rally in homebuilding despite likely increases in long-term interest rates, according to the report.The biggest source of optimism is the U.S. labor market. After several years of sluggishness, the U.S. has added 230,000 net new jobs on average for the first seven months of this year, Freddie Mac reported.”The economic growth and labor market gains we saw in the second quarter of this year are projected to continue, strengthening household formations and the housing sector,” said Frank Nothaft, VP and chief economist.Nothaft also expects construction activity to further accelerate the labor markets and, thereby, fuel even more household formations and more housing demand. The result, he said, is an economy that is gradually heading back to the black. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Economy Moving Closer to Normal Economy Freddie Mac 2014-08-13 Scott Morgan Demand Propels Home Prices Upward 2 days ago Tagged with: Economy Freddie Mac Related Articles About Author: Scott Morgan Previous: HUD Releases National Scorecard for July Next: Ocwen Hit with Class Action Suit Sign up for DS News Daily in Daily Dose, Featured, Headlines, Market Studies, Newscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago August 13, 2014 925 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Economy Moving Closer to Normal  Print This Post Share Save Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Existing-Home Sales Expected to Inch Upward in January

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Tory Barringer in Daily Dose, Featured, Market Studies, News Existing-Home Sales Expected to Inch Upward in January January 26, 2015 1,152 Views Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Share Save Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago An early forecast of existing-home sales projects a minor bump in transaction activity this month following December’s modest gain.Based on company transactional data and Google search activity, Auction.com predicted Monday that existing-home sales in January will come in at a seasonally adjusted annual rate of 5.06 million, just slightly above the National Association of Realtors’ (NAR) December estimate of 5.04 million. The company’s range of predictions includes a lower forecast of 4.90 million annual sales and an upper forecast of 5.21 million sales.”There’s nothing pointing towards a quantum leap in January home sales,” said Rick Sharga, EVP for Auction.com. “Demand continues to be tepid, reflected by the relatively weak search activity that we’re tracking in Google Trends data. And inventory levels of available homes continue to fall, which means that even if demand picks up, there might not be enough homes to meet it.”In its latest look at resale data, NAR reported that the stock of available existing homes for sale was around 1.85 million in December, putting the national supply at 4.4 months at the current sales rate.Also challenging the housing market right now are stringent credit conditions, stagnant wages, and “lingering wariness about homeownership benefits,” said Auction.com’s chief economist, Peter Muoio.Oil-producing states also have their own problems to contend with prices per barrel on the decline.”White-hot sales growth in Texas has well outpaced U.S. existing home sales growth over the past three years, pushing the Texas share of U.S. existing home sales up to a near-record 6.2 percent,” Muoio said. “Low oil will cool the Texas economy and likely with it home sales within the state, exerting a drag on U.S. sales in 2015.” Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Auction.com Existing Home Sales Forecasts Housing Demand 2015-01-26 Tory Barringercenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Auction.com Existing Home Sales Forecasts Housing Demand Home / Daily Dose / Existing-Home Sales Expected to Inch Upward in January Previous: Watt Scheduled to Testify Before House Financial Services Committee on Tuesday Next: OCC Releases Performance Evaluations for 30 Financial Institutions; Two Rated ‘Outstanding’ Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Fed Report Shows Stagnant Real Estate Market

first_imgSign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago March 2, 2017 1,615 Views The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Beige Book Federal Reserve Home Prices Home Sales Demand Propels Home Prices Upward 2 days ago About Author: Staff Writer Demand Propels Home Prices Upward 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 Beige Book Federal Reserve Home Prices Home Sales 2017-03-02 Staff Writer Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fed Report Shows Stagnant Real Estate Market Home / Daily Dose / Fed Report Shows Stagnant Real Estate Market Subscribe Previous: Carson Secures HUD Secretary Position Next: Industry Reacts to New HUD Secretary The economy grew at a modest level in January, according to the Federal Reserve’s Beige Book report on Wednesday. Retail sales and manufacturing increased at a moderate level, and home construction and home sales saw moderate growth in most of the 12 districts.Rising economic activity did not seem to affect the housing market much, as some districts report little to no change in home prices during the month. The Dallas and San Francisco districts reported steady but strong home prices. Dallas reports a strong labor market with increasing wages, alongside several other districts.The New York district reported low or stagnant real estate markets, but in suburban areas such as around New York City, home sales picked up during January. Upstate New York experienced some strong sales activity and rising prices within a tight inventory.Although the Minneapolis district had a relatively weak month in commercial real estate, particularly in commercial construction, the residential real estate market picked up a little. Residential construction in Minneapolis-St. Paul and Sioux Falls saw significant improvement over last year, and Fargo additionally saw a slight increase.Sales as a whole were down in the Boston area, but despite this, optimism going into 2017 is “overwhelming”, according to Beige Book contact from Boston. In the Boston district, Maine saw a record number of home sales, and Rhode Island saw record numbers for the month of December. Pending sales in the district were also up. A Beige Book contact in Rhode Island noted that as prices rise, more people will see gains in home equity which will give them more freedom to move”.Overall, the Beige Book reports that home prices are on a steady rise in most districts, though several districts note low inventories of existing homes. Lending activity stayed steady for the most part, with some slight increases. Businesses generally are to the rest of the year optimistically.Read the entire Federal Reserve Beige Book for March here.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Black Knight Launches Municipal Lien Search

first_imgHome / Featured / Black Knight Launches Municipal Lien Search The Week Ahead: Nearing the Forbearance Exit 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Subscribe Demand Propels Home Prices Upward 2 days ago Black Knight Financial Services launched its Municipal Lien Search solution Wednesday to help uncover property debts and reduce risk associated with liens not included on property reports or outside of the scope of title insurance coverage. County debts; code and force violations; waste, water, and sewer are examples of these liens.Undiscovered and unrecorded municipal liens become the responsibility of the new property owner upon closing. Black Knight said its Municipal Lien Search solution is a faster and simpler way to help identify unrecorded property liens through access to more property and tax data than can be pulled from a traditional online title search. Black Knight explained that they can help identify outstanding property liens, violations, assessments, and more that would fail to show up in a standard title search. The search presents findings in a clear, concise report with the necessary contacts to resolve outstanding issues.The Municipal Lien Search solution is available nationwide and is requested and delivered through Black Knight’s OrderPoint technology, an online tracking and delivery tool that is integrated with Black Knight’s national title production network.“With this innovative tool, which is part of our national, comprehensive title solution suite, we are helping buyers and title companies keep informed during the origination process by shedding light on any outstanding debts on a property,” said Lisa Roessler, Vice President of Black Knight’s Title Solutions division. “Making buyers aware of any outstanding liens before closing helps reduce their risk and provides for a better borrower experience.” Black Knight Launches Municipal Lien Search The Best Markets For Residential Property Investors 2 days ago Tagged with: Municipal Lien Search Solution Property Debts Servicers Navigate the Post-Pandemic World 2 days ago Municipal Lien Search Solution Property Debts 2017-05-26 Brianna Gilpin Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img About Author: Brianna Gilpin May 26, 2017 1,063 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Previous: FinTech Charters May Have Difficult Road Ahead Next: Asurity Technologies Announces Integrated Compliance Platform Sign up for DS News Daily in Featured, Headlines, News, Technologylast_img read more

JPMorgan CEO on Trump

first_imgHome / Daily Dose / JPMorgan CEO on Trump Governmental Measures Target Expanded Access to Affordable Housing 2 days ago JPMorgan CEO on Trump 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] Demand Propels Home Prices Upward 2 days ago The mortgage banking industry no longer has a voice in President Trump’s ear as of Wednesday, when the president disbanded both his manufacturing and business advisory councils via Twitter:Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all!— Donald J. Trump (@realDonaldTrump) August 16, 2017The decision to disband the counsels comes on the coattails of nine members’ resignation after the events of Saturday’s alt-right rally and subsequent fallout in Charlottesville, Virginia.As of this week, additional resignations rolled in from: Inge Thulin, CEO of 3M; Denise Morrison, CEO of Campbell Soup; Scott Paul, President of the Alliance of American Manufacturing; Kenneth C. Frazier, CEO of Merck; Kevin Plank, CEO of Under Armour, Brian Krzanich, CEO of Intel; and Richard Trumka, President of AFL-CIO.There was increased pressure for JPMorgan Chase CEO Jamie Dimon to also withdraw from the President’s council. On Wednesday afternoon, a handful of New York-based advocacy groups—including New York Communities for Change, Center for Popular Democracy, and Make the Road New York—marched on Chase’s headquarters in Manhattan, demanding that the CEO do more to stand up against the president.Dimon and JPMorgan Chase were largely silent until an internal memo surfaced with an official statement:“I strongly disagree with President Trump’s reaction to the events that took place in Charlottesville over the past several days. Racism, intolerance, and violence are always wrong. The equal treatment of all people is one of our nation’s bedrock principles. There is no room for equivocation here: the evil on display by these perpetrators of hate should be condemned and has no place in a country that draws strength from our diversity and humanity.As a company and for all business in general, it is critical that we help develop rational, intelligent policies to help expand opportunities for all of our citizens. I know that times are tough for many. The lack of economic growth and opportunity has led to deep and understandable frustration among so many Americans. But fanning divisiveness is not the answer. Constructive economic and regulatory policies are not enough and will not matter if we do not address the divisions in our country. It is a leader’s role, in business or government, to bring people together, not tear them apart.”With a president that has been so vocal about tax reform and reducing regulations, what might it mean for the mortgage finance industry now that the council has disbanded?Rick Sharga, EVP of Ten-X, remains optimistic for the industry.“It’s unfortunate that the political climate has become so toxic that CEOs began resigning from President Trump’s advisory committees, fearing that their participation would damage their companies,” he said. “When Government and business work together towards common goals, the U.S. economy benefits.“Luckily, the mortgage industry is well-represented in the Trump Administration—both Steve Mnuchin and Wilbur Ross are mortgage industry veterans, with broad, deep networks of executives within both the bank and non-bank lender community. Interests of lenders, and the consumers they serve, should continue to be heard.”Sharga also suspects that Dimon will continue to counsel the president as needed, as he has been known to do for past administrations. JPMorgan Chase Trump 2017-08-17 Joey Pizzolato Share Save Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Joey Pizzolato Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Headlines, Loss Mitigation, Market Studies, News, REO, Secondary Market  Print This Post Subscribe Tagged with: JPMorgan Chase Trump Data Provider Black Knight to Acquire Top of Mind 2 days ago August 17, 2017 1,926 Views Related Articles Previous: Previous Post Next: Cash Making a Comebacklast_img read more

Delinquencies Forcasted to Rise in Coming Months

first_imgHome / Daily Dose / Delinquencies Forcasted to Rise in Coming Months Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, Headlines, Market Studies, News Tagged with: Black Knight Delinquencies hurricane harvey Servicers Navigate the Post-Pandemic World 2 days ago Next month could bring a new outlook to regional delinquency rates due to the aftermath of recent storms. Nationally, however, they remained relatively unchanged in August, according to Black Knight’s August 2017 Mortgage Data First Look. The effects of Hurricane Harvey are already being felt in areas of Houston, as delinquency rates rose 16 percent month-over-month.According to the report, 6,700 new delinquencies 30 days overdue were recorded in August, and an additional 1,000 borrowers missed an additional payment during the month, placing them in the 60-plus day threshold. Black Knight predicts that the true fallout of Hurricane Harvey on the housing market will likely be realized in September 2017’s numbers.There was a total of 54,700 new foreclosure starts in the month of August, which is an increase month-over-month of 2.63 percent, but a year-over-year decrease of 20.49 percent. The number of total national properties 30 or more days delinquent, but not yet in foreclosure, amounted to 2.003 million, and increase of 17,000 from the month prior but a decrease of 148,000 year-over-year. The number of properties 90 days past due, yet still not in foreclosure also declined year-over-year by 112,000, but rose month-over-month by 2,000 to a figure of 557,000.The only figure reported by Black Knight that decreased in both metrics was the number of foreclosed properties in the industry’s pre-sale inventory, dropping 13,000 from July to 385,000. That is a difference of 142,000 a year ago.As of August 2017, the top five states by non-current percentages were Mississippi, at 10.47 percent; Louisiana at 8.82 percent; Alabama at 7.22 percent; West Virginia at 6.95 percent; and Maine at 6.52 percent.The bottom five states by non-current percentages were Montana at 2.69 percent; Oregon at 2.58 percent; Minnesota at 2.53 percent; North Dakota at 2.31 percent, and Colorado at 2.11 percent.To see the full results of Black Knight’s First Look at August 2017 Mortgage Data, click here. The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Freddie Mac’s Chief Diversity Officer on Diversity and Inclusion Next: Mortgage-Free Living Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Black Knight Delinquencies hurricane harvey 2017-10-02 Joey Pizzolatocenter_img  Print This Post Sign up for DS News Daily Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago 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] Data Provider Black Knight to Acquire Top of Mind 2 days ago Delinquencies Forcasted to Rise in Coming Months About Author: Joey Pizzolato Related Articles October 2, 2017 2,059 Views Demand Propels Home Prices Upward 2 days agolast_img read more

The Week Ahead: American Consumers and Debt

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Consumer credit cards debt Freddie Mac mortgage Mr. Cooper 2018-07-08 Radhika Ojha On Tuesday, Mr. Cooper will announce the results of a nationwide survey of more than 1,000 Americans with more than $500 in credit card debt. The survey will look at the impact of debt on the daily life of an average American. The online survey, titled “Climbing out of Debt: Finding Solutions for High-interest Problems,” was conducted as part of Mr. Cooper’s mission to better understand and serve its customers, in partnership with YouGov Plc. between April 13-16, 2018. The sample size is representative of all U.S. adults above the age of 18 years.The survey findings will answer questions like how many Americans are concerned about their debt, how this concern impacts their routines, what are the factors they think are the reason behind their debt accumulation, and how they plan to solve their debt problem.Here’s what else is happening in The Week Ahead:Black Knight Mortgage Monitor, Monday, 12 a.m. ET CoreLogic Loan Insights Report, Tuesday, 8 a.m. ETMr. Cooper Consumer Debt Study, Tuesday, 9 a.m. ETMBA Mortgage Apps, Wednesday, 7 a.m. ETFreddie Mac Primary Mortgage Market Survey, Thursday, 9 a.m. ETSenate Banking Committee Hearing: An Overview of Credit Bureaus and the Fair Credit Reporting Act, Thursday, 10 a.m. ETLearn more about mortgage performance:How Are Mortgages Performing in 2018?Delinquency Rates Hit Pre-Crash Lows‘Improving Transparency and Accountability at CFPB’ Subscribe Sign up for DS News Daily in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Week Ahead: American Consumers and Debt Related Articles Share Savecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago July 8, 2018 1,640 Views The Week Ahead: American Consumers and Debt 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 About Author: Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Consumer credit cards debt Freddie Mac mortgage Mr. Cooper Previous: Foreclosure Avoidance Options for Distressed Homeowners Next: HELOC Equity Withdrawals Hit a Lowlast_img read more

And the Appraisal Survey Says …

first_img  Print This Post Related Articles Sign up for DS News Daily in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Tagged with: Computershare desktop appraisal home appraisal Homeownership HOUSING mortgage Nick Oldfield Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago And the Appraisal Survey Says … Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] The Week Ahead: Nearing the Forbearance Exit 2 days ago Computershare desktop appraisal home appraisal Homeownership HOUSING mortgage Nick Oldfield 2018-10-24 Rachel Williamscenter_img The Best Markets For Residential Property Investors 2 days ago Previous: The Road Ahead for Women-Owned Small Businesses Next: How Much Longer Will Home Prices Climb? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 24, 2018 2,178 Views Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / And the Appraisal Survey Says … About Author: Rachel Williams Data Provider Black Knight to Acquire Top of Mind 2 days ago Seventy percent of appraisers plan to utilize desktop technology in the next two-three years to streamline their work, according to a new survey by Computershare Loan Services. Full survey results can be found in the company’s white paper, “Property Appraisers in 2020—Embracing New Technology to Reinvigorate the Industry.”Of the 400+ answers received from Computershare’s current network of appraisers, 35 percent responded that they are already utilizing desktop technology for a least a quarter of their appraisers.Overall, Computershare found that their survey results point to the fact that “U.S. appraisers believe their industry is on the brink of significant change.” Despite only 12 percent of respondents reporting that desktop appraisals make up half their work, 37 percent said they expect to join this number by 2020 or 2021.Desktop appraisals differ from the standard appraisal method where an appraiser will visit the property to personally evaluate the interior and exterior. With desktop appraisers, appraisers instead utilize public records and online tools to make their assessment. Some appraisers choose to employ a hybrid method of the standard and desktop appraisal.Among the challenges appraisers face is the issue of supply and demand, according to Computershare. Citing data from a 2017 Appraisal Subcommittee report by the Federal Financial Institution Examinations Council, appraisers are outnumbered by real estate agents 25-to-1.Time and cost is also a factor for today’s appraisers, according to Computershare. Citing Property Solutions data, the company revealed that an appraisal in some parts of Washington state took nearly four weeks to complete at a cost of $1,800—while in suburban Illinois this was decreased to less than a week and $450.“Like many professions, property appraising currently faces some interesting challenges as well as the emergence of significant technological changes,” Nick Oldfield, CEO of Computershare said.  “However, our white paper shows that, by embracing new methods, whether desktop appraisals, cloud computing or the use of drones, the industry can dramatically increase its efficiency and overcome other issues, such as declining numbers and a shortage of new appraisers entering the industry. Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Measuring Mortgage-Backed Securities Volumes

first_imgSign up for DS News Daily  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Fannie Mae Federal Home Loan Bank of Dallas MBS UMBS 2019-04-30 Seth Welborn The Federal Home Loan Bank of Dallas released its Q1 2019 financial results on Tuesday. The bank reported a $58.4 million net income for the quarter.The bank’s long-term held-to-maturity securities portfolio, composed mainly of U.S. agency residential mortgage-backed securities (MBS) totaled around $1.4 billion as of Q1, and the bank’s long-term available-for-sale securities portfolio, comprised mostly of U.S. agency debentures and U.S. agency commercial MBS, totaled $16.1 billion as of March 31, 2019, as compared to $15.8 billion as of December 31, 2018. The bank’s mortgage loan portfolio totaled $2,594,412,000 in Q1 2019, up from $2,185,503,000 at the end of Q4 2018.The Q1 mortgage-backed securities portfolio is slightly below the Q4 2018’s portfolio amount of $1.5 billion.Moving forward, Freddie Mac has announced that its Investor Reporting Change Initiative (IRCI) will revise Single-Family investor reporting requirements, beginning in May 2019, including moving the investor reporting cycle from mid-month to end-of-month and updating remittance cycles. The GSE states that it is making the changes to promote alignment and industry standards for the Uniform Mortgage Backed Security (UMBS).While the nonagency share of mortgage securitizations has increased gradually over the years, from 1.8% in 2016 to 4.4% in 2018, it has seen an uptick since February 2019, inching upwards to 7.15%, the report revealed. Nonagency securitization volume, including the Federal Home Loan Bank of Dallas, totaled $95.2 billion for 2018, a 41% increase over 2017.The UMBS initiative will unify Fannie Mae and Freddie Mac’s currently separate mortgage-backed securities into a single, comingled security, called unified mortgage-backed security. The final rule requires the GSEs to align their policies, programs, and practices that can impact cash-flows to holders of to-be-announced TBA-eligible MBS. “The market had anticipated these actions, and the price differential between Fannie and Freddie securities had converged some time ago; prior to discussions on the UMBS, Freddie Mac needed to subsidize its security to the detriment of taxpayers,” the report stated. How these UMBS, which go live on June 3, trade, will shape the MBS market.Editor’s note: This story originally contained incorrect totals for the bank’s mortgage loan portfolio totals. DS News regrets the error and has corrected those figures. Home / Daily Dose / Measuring Mortgage-Backed Securities Volumes About Author: Seth Welborn 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Fannie Mae Federal Home Loan Bank of Dallas MBS UMBS The Best Markets For Residential Property Investors 2 days ago Measuring Mortgage-Backed Securities Volumes The Best Markets For Residential Property Investors 2 days ago Previous: Senate Banking Committee Reexamines Regulatory Expectations Next: HUD Working Toward Affordable Housing Innovations Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Foreclosure, Market Studies, News Related Articles April 30, 2019 1,965 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

A Major Factor Behind Mortgage Delinquencies

first_img A Major Factor Behind Mortgage Delinquencies The Best Markets For Residential Property Investors 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, Market Studies, News CoreLogic Delinquency Employment Foreclosure Jobs 2019-11-19 Seth Welborn Home / Daily Dose / A Major Factor Behind Mortgage Delinquencies The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: CoreLogic Delinquency Employment Foreclosure Jobs The Best Markets For Residential Property Investors 2 days ago  Print This Postcenter_img In the states with the biggest gains in delinquency, job loss was a contributing factor, according to the latest Loan Performance Insights Reports from CoreLogic. While the nation’s overall delinquency remains near the lowest level since at least 1999, five states posted small annual increases in overall delinquency rates in August: Iowa (0.2 percentage points), Minnesota (0.1 percentage points), Nebraska (0.1 percentage points), Wisconsin (0.1 percentage points) and Rhode Island (0.1 percentage points).“Job loss can trigger a loan delinquency, especially for families with limited savings,” said Dr. Frank Nothaft Chief Economist for CoreLogic. “The rise in overall delinquency in Iowa, Minnesota, Nebraska and Wisconsin coincided with a rise in state unemployment rates between August 2018 and August 2019.”Additionally, Minnesota, Iowa, Nebraska, North Dakota, Montana, New Hampshire, and Utah all saw increases in serious delinquency rates, or loans 90 days or more past due including loans in foreclosure.On a smaller scale, 47 metropolitan areas recorded small annual increases in overall delinquency rates in August. Some of the highest gains were in the Midwest and Southeast. Metros with the largest increases were Dubuque, Iowa (2.2 percentage points), Pine Bluff, Arkansas (1.1 percentage points), Goldsboro, North Carolina (0.6 percentage points) and Panama City, Florida (0.5 percentage points).Additionally, 19 metropolitan areas recorded small annual increases in their serious delinquency rates. Metros with the largest increases were Panama City, Florida (0.9 percentage points), Jacksonville, North Carolina (0.2 percentage points), Wilmington, North Carolina (0.2 percentage points) and Goldsboro, North Carolina (0.2 percentage points). The remaining 15 metro areas logged annual increases of 0.1 percentage point.“Delinquency rates are at 14-year lows, reflecting a decade of tight underwriting standards, the benefits of prolonged low interest rates and the improved balance sheets of many households across the country,” said Frank Martell President and CEO of CoreLogic. “Despite this month’s near record-low serious delinquency rate, several metros in hurricane-ravaged areas of the Southeast have experienced higher delinquency rates of late.  We expect to see these metros to return to pre-disaster delinquency rates over the next several months.” Demand Propels Home Prices Upward 2 days ago November 19, 2019 1,975 Views About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Mortgage Servicing: A “People Business” Next: Rising Rates for Minority Homeownership Data Provider Black Knight to Acquire Top of Mind 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. Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more