Expired Tax Relief Could Increase Pressure on Troubled Borrowers

first_imgSubscribe Servicers Navigate the Post-Pandemic World 2 days ago Expired Tax Relief Could Increase Pressure on Troubled Borrowers Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, Headlines, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save February 6, 2014 1,107 Views Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Related Articles Fitch Ratings Foreclosure Prevention Short Sale 2014-02-06 Colin Robins Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily center_img Tagged with: Fitch Ratings Foreclosure Prevention Short Sale  Print This Post The Best Markets For Residential Property Investors 2 days ago The Mortgage Forgiveness Debt Relief Act’s (MFDRA) expiration may lead to negative pressure on liquidation timelines and recoveries for legacy U.S. mortgage investors if the act is not renewed, according to Fitch Ratings.Recently expired as of January 1, the MFDRA was signed into law December 2007 with the purpose of aiding underwater mortgage holders. Fitch Ratings projects a negative effect from the MFDRA’s expiration.The act was designed to provide tax relief by allowing certain borrowers to exclude mortgage debt that was cancelled or forgiven by the lender through a foreclosure, short sale, or loan modification—debt that would normally be considered income for tax purposes.Without this relief, Fitch expects a decline in the volume of short sales and principal forgiveness modifications. The agency cites three reasons for its projection:Without the tax exemption, there is less incentive for distressed borrowers to agree to a voluntary property sale that will not pay the loan off in full, likely increasing the number of involuntary foreclosure sales.The MFDRA’s expiration provides less incentive for servicers to offer principal forgiveness modifications. The tax burden on the borrower increases the likelihood of redefault.Servicers may increasingly opt for principal forbearance, which requires the borrower to repay the reduced principal amount at the end of the loan term.Congress is currently considering extending the tax relief through 2015 or 2016. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Report: GSEs Purchased Risky Loans Despite Red Flags Next: Has the Tech Boom Impacted Home Prices? About Author: Colin Robins Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Expired Tax Relief Could Increase Pressure on Troubled Borrowerslast_img read more

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Investors Must Consider Prices, Job Market, and Yield When Seeking SFR Properties

first_imgHome / Daily Dose / Investors Must Consider Prices, Job Market, and Yield When Seeking SFR Properties Data Provider Black Knight to Acquire Top of Mind 2 days ago 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 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. When deciding to purchase a property, investors must consider a number of things including home prices, gross rental yield, and job growth within housing markets. These factors influence their decision when looking to buy a home.Research from HomeUnion, an online real-estate investment management firm, enabling value investing in single-family rental properties, ranked the top 10 U.S. markets where investors can “affordably and prudently” buy rental properties.The data, which examined 55 of the largest metro areas across the country to determine the best markets for single-family home investors looking at median price, average gross rental yields, year-over-year job growth, and home affordability, showed that the top investment market is Charlotte, North Carolina due to its strong job growth.In addition to having the highest job growth rate of any of the top 10 cities, Charlotte had the third best job-growth rate of the top 55 MSAs and ranked 21st in investment home price and 27th in gross rental yield.Orlando, Florida and Baltimore, Maryland held the second and third spots on the top 10 list, the report found.“Like any other investment, the focus for SFR investors should be on long-term rate of return and each of the markets on this list has favorable rental yields, low-cost entry points and solid, long-term economic fundamentals,” said Don Ganguly, CEO of HomeUnion.According to HomeUnion, Nashville, Tennessee ranked concluded the list, ranking 14th in job growth, 23rd in investment home price, and 21st in gross yield rank. Nashville had the highest median investment sales price at $125,000 among the top 10 metros.The lowest median investment sales price were found in Birmingham, Alabama and Cincinnati, Ohio at $70,000, which were the 4th and 5th markets of the 55 markets examined, the data showed.The highest gross rental yield was observed in Milwaukee, Wisconsin at 20.7 percent.“Nationally, macro-economic factors, such as lower homeownership rates, are quite favorable for SFR investing, but real estate is still all about location and finding accessible markets that have low entry points, like Cincinnati and Birmingham, or high gross rental yields, like Milwaukee.”“Places like San Francisco, Miami or Brooklyn are not on our list, because homeowners—who have different motivations than investors—have driven up prices in those markets to the point where cap rate and gross yield calculations simply don’t make sense for investors,” Ganguly noted. “Likewise, many of the sand state markets, like Las Vegas and Phoenix aren’t on the list because institutional investors have absorbed much of the distressed inventory and raised the barriers of entry for smaller, retail players.”HomeUnion’s Top 10 SFR Investment Markets:Charlotte-Concord-Gastonia, North Carolina-South CarolinaOrlando-Kissimmee-Sanford, FloridaBaltimore-Columbia-Towson, MarylandCincinnati, Ohio-Kentucky-IndianaJacksonville, FloridaBirmingham-Hoover, AlabamaTampa-St. Petersburg-Clearwater, FloridaIndianapolis-Carmel-Anderson, IndianaMilwaukee-Waukesha-West Allis, WisconsinNashville-Davidson-Murfreesboro-Franklin, Tennessee Demand Propels Home Prices Upward 2 days ago About Author: Xhevrije West The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily November 10, 2015 1,665 Views Related Articlescenter_img Investors Single-Family Rental Market 2015-11-10 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Investors Single-Family Rental Market The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago  Print This Post Previous: Minneapolis Fed Names New President and CEO Next: Democratic Lawmakers Warn of Risks Posed by Repeal of Dodd-Frank Provision Share Save Investors Must Consider Prices, Job Market, and Yield When Seeking SFR Properties Subscribelast_img read more

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Regulations Tend to Rise No Matter Who is President

first_img Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Tagged with: Dodd-Frank Federal Regulations Financial Industry President of the United States While the perception among Republicans is that the financial industry, and the country in general, has been overregulated since the financial crisis under President Barack Obama, especially with the passage of Dodd-Frank in 2010, a recent study indicates that federal regulations have generally soared over the last half century regardless of the president’s political party.Republicans have made some traction in the attempt to roll back Dodd-Frank in the last couple of months. Those in the GOP ranks hope that a Republican will be elected president so he can deregulate what they believe is an overregulated financial industry and an overregulated country in general.The data presented by Charles Murray of the American Enterprise Institute, however, shows that over the last 50 or so years, federal regulations have spiked whether a Democrat or Republican is in office, with two exceptions: Ronald Reagan and Bill Clinton.Murray points out there as an initial spike in regulations during the JFK years and another one during the Carter Administration due to the increased number of pages in the Federal Code of Regulations. But then there was another spike during the Nixon years that saw the creation of the Environmental Protection Agency and the Occupational Safety and Health Administration.”After the Carter years, the slope of the trendline was shallowest in the Reagan and Clinton administrations (with the Clinton result concentrated in his second term, when a Republican House imposed a moratorium on some new regulations),” Murray said. “The increase during the Obama years remained on the same slope as the one during George W. Bush’s years. And if you’re thinking about the Democrats’ most egregious regulatory excess, Dodd-Frank in 2010, recall that Sarbanes-Oxley passed in 2002, when Republicans controlled both the House and the Senate.”Murray said that while presidents do not bear a lot of the blame for not reducing regulation, at the same time, he said electing a Republican president has not helped. The one exception to that was Reagan, who decreased real per capita discretionary domestic spending despite inflation being low the first few years of his administration. Discretionary spending also decreased during the eight years that Bill Clinton was in office.Obama wasted a “huge amount of money” on TARP and other “failed stimulus programs” during his first term, the first few years of the recession, according to Murray. But domestic spending under Obama returned to the trend established from 1952 to 2008 by 2012.Murray said this was not to say the increases in spending and regulation are acceptable; he says they are in fact “traces of a metastasis in federal power that in my view has gutted the American project.””Nor is any of this intended to say that presidential elections don’t make any difference,” Murray said. “But amidst the wringing of Republican hands about the awful things that will happen if (Hillary) Clinton is elected, a little historical perspective may lower their blood pressure just a bit. And they might want to reflect on what Trump’s rhetoric portends for both trendlines in a Trump presidency.” Home / Daily Dose / Regulations Tend to Rise No Matter Who is President Demand Propels Home Prices Upward 2 days ago Subscribe Previous: Servicers, Pay Attention to Supreme Court’s Ruling Next: HUD: Changes are Coming to Delinquent Loan Sales in Daily Dose, Featured, Government, News Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Dodd-Frank Federal Regulations Financial Industry President of the United States 2016-05-16 Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago May 16, 2016 1,233 Views About Author: Brian Honea Regulations Tend to Rise No Matter Who is Presidentlast_img read more

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Will GSE Reform Proposal Be a Tough Sell for Investors?

first_img Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Will GSE Reform Proposal Be a Tough Sell for Investors? Demand Propels Home Prices Upward 2 days ago Fannie Mae Freddie Mac GSE Reform Private Investors 2016-06-14 Brian Honea in Daily Dose, Featured, News, Secondary Market The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 14, 2016 2,770 Views Will GSE Reform Proposal Be a Tough Sell for Investors? On Tuesday, a new version of a white paper authored by several noted housing policy experts for the Urban Institute titled “A More Promising Road to GSE Reform: Governance and Capital” expanded on the capital and governance issues raised by the authors’ original proposal in March to replace the GSEs with a corporation, the National Mortgage Reinsurance Corporation (NMRC).The NMRC would essentially perform the same functions as the GSEs with the main difference being the NMRC would transfer all non-catastrophic debt risk on the securities it issues to a broad range of private entities.The authors of the paper, one of which, Gene Sperling, was hired last month as Democratic presidential nominee Hillary Clinton’s top economic adviser, have estimated that private investors will have to put up an estimated $125 billion to capitalize the NRMC—the equivalent of about 2.5 percent of the mortgages the company guarantees, assuming it would guarantee about $5 trillion worth of mortgages.Urban Institute senior fellow Jim Parrott, another of the white paper’s authors who has advised Clinton on housing policy, told DS News that “We don’t think the current system is so flawed as to warrant that radical an overhaul,” and that “We’re really trying to change only what really needs it, maintaining the rest. In our view that means taking the infrastructure that lenders and borrowers have come to rely on over the years and putting it onto a firmer foundation, so that it no longer rests on a Too Big to Fail duopoly.”Will investors be reluctant to put money into the venture, given the fact that the government is keeping all of Fannie Mae’s and Freddie Mac’s profits and has been since August 2012? At that time, the bailout agreement was amended to require all GSE profits to be swept into Treasury quarterly instead of 10 percent yearly as was the original agreement.The sweeping of GSE profits into Treasury, or the Net Worth Sweep as it has been termed, has prompted nearly two dozen lawsuits from GSE investors who claim the sweep is illegal. Some of those suits are still pending.Two of those lawsuits were filed by one of the GSEs’ largest shareholders, New York-based hedge fund Pershing Square Capital Management, in 2014. Pershing Square CEO Bill Ackman indicated that he believes it may be difficult for the NMRC to convince private investors to put up money. According to Bloomberg, Ackman said last year, “If the government’s allowed to take 100 percent of the profits forever, no one’s going to put a dollar of capital in a rescue situation and it’s going to cause people to really question whether they’re willing to put a dollar of capital into any financial institution.”The paper co-authored by Parrott and Sperling (along with Lewis Ranieri, Mark Zandi, and Barry Zigas),  lists a number of possibilities to make NMRC shares more attractive to investors:Creating a mandate for the NMRC to “manag[e] the company in a fashion that does not expose either taxpayers or fixed-dividend security holders to undue risk.” So looking after their interests is embedded in their charter.Giving investors representation on the board to help inform the company’s day-to-day decision-making.”To ensure investors in fixed-dividend securities that the NMRC is committed to prudent underwriting practices, the U.S. Treasury will purchase some portion of the NMRC’s initial issuance of these securities…. Future issuance of fixed-dividend securities would be sold to private sources of capital who would be pari passu with the Treasury on a claim basis.” In other words, the authors said, the investors and Treasury will be in it together.Mark Zandi, Chief Economist with Moody’s Analytics and another of the paper’s co-authors, does not think the NMRC will have trouble attracting investors. Zandi stated, “The system will ultimately need $270 billion in capital, of which $160 billion will come from risk transfers and $110 billion from fixed dividend securities. Of course, this will be built up over time as the NMRC gets to scale.  In any given year, the NRMC will require between $25 and $30 billion in capital. Investor demand for risk transfers has been strong to date, and I think investor demand for the fixed dividend securities will also be strong. Investors will be attracted by the fact that NMRC is a permanent entity that will always need to raise capital, and be profitable enough to pay investors to continue to attract them. Investors in the fixed dividend securities will also be attracted since they will be parri passu with the U.S. Treasury’s investment in the securities.”While Clinton has not spoken out directly on GSE reform, the hiring of Sperling as her top economic adviser indicates that she likely shares his views on housing policy. Sperling previously served as Director of the National Economic Council under Clinton’s husband and Obama and also served as Counselor to former Treasury Secretary Timothy Geithner. Demand Propels Home Prices Upward 2 days ago Tagged with: Fannie Mae Freddie Mac GSE Reform Private Investors Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Subscribe Previous: Majority of Americans Still Value Homeownership Next: Bill Takes Aim at CFPB’s Complaint Database Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily About Author: Brian Honea Share Savelast_img read more

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Breaking Down Non-Performing Loan Sales

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Enterprise Non-Performing Loan Sales Report Fannie Mae Federal Housing Finance Agency FHFA Foreclosure Freddie Mac GSEs Non-Performing Loan Sales Non-Performing Loans 2017-12-06 David Wharton About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago Previous: Default Data After the Great Recession Next: These Are Your 10 Best SFR Investment Markets in Daily Dose, Featured, Government, Journal, News 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] Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agocenter_img The Federal Housing Finance Agency (FHFA) this week released the latest Enterprise Non-Performing Loan Sales Report, detailing the sales of non-performing loans (NPL) by Fannie Mae and Freddie Mac through June 30, 2017. The report also covers borrower outcomes as of that same date, on NPLs sold through December 31, 2016. According to the report, “through June 30, 2017, the Enterprises sold 82,359 NPLs representing a total unpaid principal balance (UPB) of $16 billion.”NPLs sold by the GSEs had an average delinquency of 3.3 years and an average current loan-to-value ratio of 97 percent. Nearly half (47 percent) of the NPLs sold were located in three states: New Jersey, New York, and Florida. The report adds, “These three states also accounted for 47 percent of the Enterprises’ loans that were one year or more delinquent as of December 31, 2014.”Community Loan Fund of New Jersey (CLFNJ), a nonprofit organization, won the bid for 10 of 12 “small, geographically concentrated NPL pools” sold during the period.The report also provides insights about the 69,804 NPLs that were settled by December 31, 2016. NPLs on occupied homes were much more likely to avoid foreclosure than those on vacant homes—21.2 percent versus 9.9 percent, respectively. In fact, the foreclosure rate on vacant homes (47.8 percent) was nearly double that of borrower-occupied homes (19.3 percent).NPLs sold by the GSEs also had a higher foreclosure avoidance rate than those not sold. According to the FHFA report, “Thirty‐six percent of NPLs that have been with the new servicers the longest (1,737 NPLs with new servicers for 26 months) avoided foreclosure, compared to 24 percent of the benchmark NPLs.”Finally, the the average forgiveness earned per loan to date on NPLs with permanent modifications was $30,443, with the potential to earn an average forgiveness of $60,586.You can read the full FHFA Enterprise Non-Performing Loan Sales Report by clicking here. Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Breaking Down Non-Performing Loan Sales December 6, 2017 2,790 Views Breaking Down Non-Performing Loan Sales Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Tagged with: Enterprise Non-Performing Loan Sales Report Fannie Mae Federal Housing Finance Agency FHFA Foreclosure Freddie Mac GSEs Non-Performing Loan Sales Non-Performing Loans Subscribelast_img read more

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HUD Secretary Ben Carson to Speak at Government Forum

first_img 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. Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / HUD Secretary Ben Carson to Speak at Government Forum Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Previous: Housing Markets Suffer as Young Adults Delay Household Formation Next: Homebuyers, Fixed-income Families Brace for Impact of Rising Prices Demand Propels Home Prices Upward 2 days ago United States Secretary of Housing and Urban Development, Dr. Benjamin Carson, will address attendees at the 2018 Five Star Government Forum in Washington, D.C., on April 3.Now in its 9th year, this event is a day-long gathering where leaders in mortgage banking and the federal government engage and have an open dialogue about pressing issues.”We are honored to host Dr. Carson as a keynote presenter,” said Five Star Institute President and CEO Ed Delgado. “The importance of HUD’s leadership in furthering the health and wellness of the United States housing market simply can not be overstated. We look forward to hearing Secretary Carson communicate his vision toward ensuring that responsive and responsible housing policies are maintained for the benefit of homeowners.”With representation from HUD, FHFA, Fannie Mae, Freddie Mac, Ginnie Mae, this year’s Government Forum speakers have played an integral role in providing quality leadership to the federal government and the mortgage industry. “A collaborative working relationship between regulatory agencies and the industry promotes understanding and ultimately benefits homeowners,” said Delgado. “The Five Star Government Forum facilitates the growth of those relationships by bringing together interested stakeholders to promote the exchange of ideas and best practices. We look forward to hosting this discussion.” 2018-03-23 Radhika Ojha Share Save The Best Markets For Residential Property Investors 2 days ago HUD Secretary Ben Carson to Speak at Government Forum Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles 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 March 23, 2018 4,888 Views Subscribelast_img read more

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California Mortgage Company Looks to Improve Customers’ Efficiency, Reduce Risks

first_img About Author: Mike Albanese in Featured, News Demand Propels Home Prices Upward 2 days ago May 17, 2019 875 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe California Mortgage Company Looks to Improve Customers’ Efficiency, Reduce Risks Demand Propels Home Prices Upward 2 days ago Tagged with: mortgage mortgage companies  Print This Post 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. Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / California Mortgage Company Looks to Improve Customers’ Efficiency, Reduce Risks The Best Markets For Residential Property Investors 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago mortgage mortgage companies 2019-05-17 Mike Albanese The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Previous: WFG Releases DecisionPoint Next: Promontory Fulfillment Services Integrates with ComplianceEase Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Is Rise in Forbearance Volume Cause for Concern? 2 days ago The California-based First American Mortgage Solutions, LLC, part of the First American family of companies, announced the launch of its RegsData Compliance Suite, a comprehensive and flexible loan-level solution for managing compliance risk earlier in the mortgage application, increasing efficiency, while reducing risk and costs.Built for mortgage lenders and servicers, investors, auditors, due diligence and quality control providers, RegsData Compliance Suite delivers bundled compliance reports or individual tests as application program interfaces (APIs) for easy integration at any point along the loan lifecycle. It incorporates First American Mortgage Solutions’ automated regulatory compliance product, formerly known as PredProtect, and features:RegsData Report – Runs numerous federal, state and local jurisdictional compliance checks for QM, TRID, HOEPA and other compliance tests on loans in real-time and alerts users to any potential violations so corrections can be made promptly.RegsData APIs – All component parts of the RegsData Report can be pulled using APIs through the First American Mortgage Solutions’ Digital Gateway to meet custom integration needs.Third Party Review and Monitoring – Comprehensive counterparty oversight and management with 24/7 monitoring of watchlists and licenses.“RegsData Suite is flexible and can be customized to fit the varied needs of our customers, including how it is consumed, the features it offers and its ability to manage workflow. Our extensive critical regulatory tests, which are independently certified by outside legal counsel at state and local levels, empower our customers to manage compliance risk with confidence,” said Kevin Wall, President of First American Mortgage Solutions. First American Mortgage Solutions, a part of the First American family of companies, provides solutions for residential lenders and servicers covering the entire loan spectrum, including complete products, microservices and API.First American Mortgage Solutions, together with First American’s broader capabilities, serves as a single source for title and settlement, home equity, data and analytics, fraud and verification, regulatory compliance, valuation and collateral risk, post-closing and default services. More Sign up for DS News Daily last_img read more

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MBS Remain ‘Strong Source of Capital for America’s Homeowners’

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles MBS Remain ‘Strong Source of Capital for America’s Homeowners’ Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Previous: Home Buying and Selling Sentiment ‘Recovering’ Next: Creating ‘Customers for Life’ Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Ginnie Mae said its mortgage-backed securities (MBS) “continue to be a strong source of capital for America’s homeowners, with more than $76.4 billion of securities issued in October, up from $75.8 billion in September and $60 billion one year ago.”The reported volume reflects home financing for about 277,000 households, Ginne Mae reports.”This is a year that continues to set records for Ginnie Mae and the households we finance,” said Seth Appleton, Principal EVP. “Investors around the world are attracted to the liquidity and value of the only government-guaranteed MBS and the role it plays in keeping housing accessible and affordable for millions of families each year.”A breakdown of October issuance of $76.44 billion includes $72.49 billion of Ginnie Mae II MBS and $3.95 billion of Ginnie Mae I MBS, which includes $3.85 billion of loans for multifamily housing.Ginnie Mae describes its I and II MBS as follows:Ginnie Mae I MBS are modified pass-through mortgage-backed securities for which registered holders receive separate principal and interest payments on each of their certificates. Ginnie Mae I securities can include single-family, multifamily, manufactured home and project construction loans.Ginnie Mae II MBS are modified pass-through mortgage-backed securities for which registered holders receive an aggregate principal and interest payment from a central paying agent. An Issuer may participate in the Ginnie Mae II MBS either by issuing custom, single-Issuer pools or through participation in the issuance of multiple-Issuer pools, which combine loans with similar characteristics.According to the company, Ginnie Mae Ginnie MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing, and the Department of Agriculture Rural Housing Service.According to Ginnie Mae, it is the “only MBS to carry the explicit full faith and credit of the United States government.” About Author: Christina Hughes Babb 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 ago Home / Daily Dose / MBS Remain ‘Strong Source of Capital for America’s Homeowners’ Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, Headlines, Market Studies, News November 9, 2020 1,206 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post 2020-11-09 Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

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FHA Extends Foreclosure Moratorium, Expands Forbearance Options

first_imgSign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2020-12-21 Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago The Federal Housing Administration (FHA) and HUD announced, a few weeks following FHFA’s similar announcement, the fourth extension of its foreclosure and eviction moratorium through February 28, for homeowners with FHA-insured single-family mortgages covered under the Coronavirus Relief and Economic Security (CARES) Act. The FHFA in early December stated its extension would run “at least” through January.FHA’s moratorium prohibits servicers from initiating or proceeding with foreclosure and foreclosure-related eviction actions for FHA-insured single-family forward and reverse mortgages, except for those secured by legally vacant and abandoned properties.The FHA also will extend, through February 28, the deadline for single-family borrowers with FHA-insured mortgages to request an initial COVID-19 forbearance from their mortgage servicer to defer or reduce their mortgage payments for up to six months, which can be extended for an additional six months, the agency announced on Monday.In addition, said the FHA in a press release, it also has extended multiple temporary provisions for lenders and servicers to allow them to continue doing FHA business despite social distancing considerations.Assistant Secretary for Housing and Federal Housing Commissioner Dana Wade promised the FHA will continue to assist borrowers who are struggling financially as a result of the national health crisis.”COVID-19 has created hardships for millions of Americans,” Wade said. “American homeowners should not be forced from their homes while they are seeking help.”In its press release, the FHA outlined the following additional provisions:It will extend the timeframe for providing an insurance endorsement on single-family mortgages in forbearance through March 31, 2021.The temporary re-verification of employment guidance and exterior-only appraisal inspection option will now be accepted through February 28, 2021.Provisions for verification of self-employment, rental income, and 203(k) Rehabilitation Mortgage escrow accounts will be allowed through February 28, 2021.The FHA encourages borrowers who can make their mortgage payments to continue to do so, the FHA said, adding that, “Those who are struggling financially because of COVID-19 should engage with their mortgage servicer … FHA provides post-COVID-19 forbearance loss mitigation options to assist borrowers with bringing their mortgage current. FHA does not require a lump sum payment at the end of any COVID-19 forbearance period.”For the full list of extensions and provisions, visit HUD.gov. FHA Extends Foreclosure Moratorium, Expands Forbearance Options About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago December 21, 2020 5,466 Views 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. Previous: A ‘Paradigm Shift For The Better’ in Real Estate Next: Where Americans Are Most At Risk of Losing Homes Related Articles Home / Daily Dose / FHA Extends Foreclosure Moratorium, Expands Forbearance Options in Daily Dose, Featured, Newslast_img read more

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Gardai warn of potential fraud during rally weekend in Donegal

first_img RELATED ARTICLESMORE FROM AUTHOR Gardai warn of potential fraud during rally weekend in Donegal News Guidelines for reopening of hospitality sector published Twitter NPHET ‘positive’ on easing restrictions – Donnelly Pinterest Google+ Google+ Help sought in search for missing 27 year old in Letterkenny WhatsApp By News Highland – June 20, 2014 center_img Calls for maternity restrictions to be lifted at LUH WhatsApp Previous articleDerry PSNI confirm a number of drug arrests in the cityNext articleTyrone withdraw from Christy Ring Cup play off News Highland Twitter Facebook Gardai are warning rally goers this weekend to be aware of a major scam where cars are being purchased by fraudsters with fake bank drafts and then sold on for cash.Criminals are targeting car owners, who advertise their vehicles for sale on classified websites. They contact the seller and say they are interested in viewing and potentially purchasing the vehicle on offer.Gardai say the criminals make arrangements over the phone to buy the vehicle, using a bank draft, without personally viewing it.Garda Seargent Paul Wallace says many people will coming to Donegal during the rally weekend with the intention of buying or selling a car, he’s warning everyone to be on the lookout…………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/06/paulwallacecar.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Three factors driving Donegal housing market – Robinson Pinterest Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamiltonlast_img read more

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