Yellen Faces Grilling in First Hearing as Fed Chair

first_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles in Daily Dose, Featured, Government, Headlines, News, Secondary Market February 11, 2014 835 Views Federal Reserve GSE House Financial Services Committee Janet Yellen 2014-02-11 Tory Barringer Share Save Tagged with: Federal Reserve GSE House Financial Services Committee Janet Yellen Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Zillow Report Shows Rise in Mortgage Rates Next: DS News Webcast: Wednesday 2/12/2014  Print This Postcenter_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Yellen Faces Grilling in First Hearing as Fed Chair The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Yellen Faces Grilling in First Hearing as Fed Chair Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago If nothing else, Janet Yellen proved on Tuesday she has stamina.The newly installed Federal Reserve chair—the first woman to take the post in the institution’s century-long history—sat in front of the House Financial Services Committee for an extended session, fielding dozens of questions on topics ranging from the Fed’s current direction to GSE reform.Yellen’s prepared remarks for the committee echoed much of what analysts have seen in recent Federal Open Market Committee (FOMC) statements, with references to a recovering (but still weakened) labor market, a slowing housing market, restrictive fiscal policy, and the usual prediction of a “moderate” expansion in the nation’s economic activity.She also told House members not to expect any great change in policy now that she’s at the helm.“[L]et me emphasize that I expect a great deal of continuity in the FOMC’s approach to monetary policy,” she said. “I served on the Committee as we formulated our current policy strategy and I strongly support that strategy, which is designed to fulfill the Federal Reserve’s statutory mandate of maximum employment and price stability.”Having said that, Yellen emphasized “purchases are not on a preset course,” and the FOMC’s decisions about whether or not to taper will continue to hinge on its outlook from meeting to meeting.With the last two employment reports suggesting a possible slowdown in economic growth, the Fed chair was reluctant to discuss what they might mean for the possibility of further cuts to purchases in the FOMC’s next meeting.“The pace of job creation [in December and January] was running under what I had anticipated, but we have to be very careful not to jump to conclusions in interpreting what those reports mean,” she said, adding that the committee has data to consider beyond employment rates. “I think it’s important to take our time to assess just what the significance of this is.”She also left open the possibility for a ramp up in asset purchases should economic conditions deteriorate significantly.Another topic of interest for the House committee were Yellen’s thoughts on housing finance reform as industry players and policymakers offer up their ideas for moving forward on Fannie and Freddie.“I think the time has come,” she said. “I hope that you will deal with a reform of the GSEs, and there are a variety of ways to do it, but I think the government should make its intended role more explicit and make sure that whatever entities are set up to deal with housing finance … don’t create systemic risks to the financial system.”One subject left out of Tuesday’s hearing was the Fed’s latest round of annual capital stress tests, the results of which are expected to land in March. Of course, she’ll have another opportunity to discuss it this week—when she appears before the Senate Banking Committee Thursday.last_img read more

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Senate Banking Committee Chairman Says GSE Reform is Unlikely

first_img Demand Propels Home Prices Upward 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Freddie Mac GSE Reform Richard Shelby Senate Banking Committee 2015-03-25 Brian Honea Home / Daily Dose / Senate Banking Committee Chairman Says GSE Reform is Unlikely A key government official indicated in a speech Wednesday that GSE reform is unlikely for the next two years and that Fannie Mae and Freddie Mac will likely remain under conservatorship of the Federal Housing Finance Agency (FHFA) for the time being, according to a report from Bloomberg.U.S. Senator Richard Shelby (R-Alabama), the chairman of the Senate Banking Committee, said in his speech Wednesday at the U.S. Chamber of Commerce Conference in Washington, D.C., that he would rather leave the two GSEs under control of the FHFA than to replace them with a private insurance company system with a government backstop, as a bi-partisan bill proposed by Bob Corker (R-Tennessee) and Mark Warner (D-Virgina) called for. That bill, S.1217, passed in the Senate Banking Committee by a vote of 13 to 9 last year even though Shelby opposed it. The bill never got a full vote in the Senate, however.Fannie Mae and Freddie Mac required a combined taxpayer bailout of $188 billion in 2008 after the government seized control of them. The two GSEs returned to profitability in 2012. The future of the two GSEs has been a hotly contested topic in Washington as well as in the rest of the housing industry. Both parties appear to want to wind down the FHFA’s conservatorship of the two, but cannot agree on what, if anything, should replace them as well as what role the government should play in housing, if any.Shelby’s sentiments on Wednesday were similar to those expressed in a white paper released earlier in March by the Office of the Inspector General of the FHFA on the future of Fannie Mae and Freddie Mac.”Absent Congressional action, or a change in FHFA’s current strategy, the conservatorships will go on indefinitely,” wrote Acting Deputy Inspector General for Evaluations Kyle Roberts in the white paper. “The Enterprises’ future status is beyond their control. At present, it appears that Congressional action will be needed to define what role, if any, the Enterprises play in the housing finance system.”Shelby said in his speech Wednesday that he had priorities ahead of GSE reform, and that he didn’t want to “do something to make it worse than it is,” according to the report. in Daily Dose, Featured, Government, News About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Tagged with: Fannie Mae Freddie Mac GSE Reform Richard Shelby Senate Banking Committeecenter_img Servicers Navigate the Post-Pandemic World 2 days ago March 25, 2015 1,371 Views Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe 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. Previous: Shift from Bank to Nonbank Lending Causing Rise in Default Risk for Agency-Backed Loans Next: Cold Winter, Soft Economic Growth Cause Housing Market to Stumble Senate Banking Committee Chairman Says GSE Reform is Unlikelylast_img read more

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New and Existing Home Sales Trending Upward Despite Monthly Declines

first_img 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles in Daily Dose, Featured, Market Studies, News Home / Daily Dose / New and Existing Home Sales Trending Upward Despite Monthly Declines Share Save Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago Existing Home Sales Housing Market NAHB National Association of Home Builders New Home Sales 2015-08-05 Brian Honea Tagged with: Existing Home Sales Housing Market NAHB National Association of Home Builders New Home Salescenter_img Previous: Ask the Economist: Why the Low Homeownership Rate Despite Signs of Recovery? Next: DS News Webcast: Thursday 8/6/2015 August 5, 2015 1,027 Views Subscribe Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago New home sales have been trending up for the last three years and the National Association of Home Builders (NAHB) expects that to continue on into next year as job gains drive up demand for housing, according to the NAHB’s biweekly survey, Eye of the Economy, on Wednesday.Sales of new single-family homes rose 18 percent year-over-year in June at a seasonally adjusted annual rate of 482,000 compared to June 2014’s pace of 408,000, according to the survey. This yearly increase occurred even with a month-over-month decline from May to June of 517,000 down to 482,000, a drop of 6.8 percent.”Rising builder confidence, housing starts and low interest rates all point to continuing recovery in the housing sector, even as industry headwinds, including access to lots and labor, will produce bumps along the road,” NAHB Chief Economist David Crowe wrote.Existing home sales also showed the same trend – month-over-month decline despite climbing year-over-year, according to the June National Association of Realtors Pending Home Sales Index. The index showed an increase of 8.2 percent from a year earlier, the 10th straight year of year-over-year gains, despite dropping down by 1.8 percent from the previous month.The increasing number of households who both rent or own has been growing, which is positive news for the housing market, according to Crowe. According to the Census Bureau’s Housing Vacancy Survey, the total number of households in Q2 was approximately 117.3 million, a gain of 1.6 million households from the same quarter a year earlier. Other factors that point to continuing recovery in housing are rising builder confidence, housing starts, and low interest rates even as industry headwinds (such as access to lots and labor) attempt to slow things down a bit, Crowe said.A stronger economy will also help the housing market, according to Crowe; the advance estimate from the Bureau of Economic Analysis last week showed real GDP grew at a rate of 2.3 percent, up from the first quarter’s paltry 0.6 percent.”NAHB expects growth for the third and fourth quarters of GDP to be stronger than the second quarter, which should further promote job creation, household formations, and housing demand,” Crowe said. Servicers Navigate the Post-Pandemic World 2 days ago New and Existing Home Sales Trending Upward Despite Monthly Declines 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 agolast_img read more

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TRID-Imposed Closing Delays Elevate Cash Sales Share

first_imgHome / Daily Dose / TRID-Imposed Closing Delays Elevate Cash Sales Share The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Cash Sales Share REO 2016-02-26 Brian Honea  Print This Post 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. Servicers Navigate the Post-Pandemic World 2 days ago TRID-Imposed Closing Delays Elevate Cash Sales Share Tagged with: Cash Sales Share REO Related Articles Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days agocenter_img 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 The Best Markets For Residential Property Investors 2 days ago February 26, 2016 1,303 Views Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The share of total home sales that were all-cash transactions has been on a steady decline since January 2011, when cash sales made up almost half of total residential home sales nationwide.The cash sales share has declined year-over-year every month since January 2013; from that month until October 2015, the average year-over-year decline per month was 2.7 percentage points with a high of 5.1 percentage points and a low of 1.4. In November 2015, according to data released by CoreLogic on Friday, the cash sales share decreased over-the-year by only 0.7 percentage points, down to 36.4 percent from 37.1 percent in November 2014.The closing delays caused by the implementation of TRID in October 2015 are primarily what caused the more moderate decline in cash sales share compared to the larger declines in recent months. CoreLogic senior economist Molly Boesel said on the company’s blog that she expects this to be temporary.“The elevated cash share for November was most likely related to the new federal mortgage rules that took effect in October 2015 (TRID) as some mortgage deals were delayed while the industry adjusted to the new mortgage rules,” Boesel wrote. “These delays are not expected to carry forward in future months.”Cash sales made up 46.6 percent of all residential home sales at their peak in January 2011.The pre-crisis “normal” for the cash sales share is 25 percent, according to CoreLogic.In November 2015, REO had the largest cash sales share, with 63.7 percent. Resales were second with 35.7 percent, and short sales made up slightly more than a third (34.3) of cash sales, and newly constructed homes made up 16.7 percent of cash sales. REO accounted for only 8.7 percent of total home sales in November 2015, compared with nearly a quarter (23.9 percent) at their peak in January 2011. Resales typically have the biggest impact on cash sales, because they make up more than three-quarters (78 percent) of all home sales.The state with highest cash sales share in November 2015 was Michigan with 53.4 percent, followed by Alabama (51.4 percent), Florida (50.2 percent), Kentucky (49.1 percent), and New York (47 percent). Out of the country’s top 100 core-based statistical areas (CBSAs) ranked by population, Detroit had the highest cash sales share at 61.5 percent, followed by four CBSAs in Florida: West Palm Beach (53.4 percent), Miami (52.5 percent), Fort Lauderdale (50.4 percent), and North Port-Sarasota-Bradenton (50.1 percent. The CBSA with the lowest cash sales share in November was Syracuse, New York, with 13.1 percent. in Daily Dose, Featured, News, REO Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Urban Institute: GSEs Should Consider Raising Nonbank Servicer Capital Requirements Next: Economic Outlook Remains the Same Despite Slow GDP Growth Share Savelast_img read more

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Servicing Association Announces Leadership Changes

first_imgHome / Daily Dose / Servicing Association Announces Leadership Changes mortgage Servicing 2017-04-14 Seth Welborn Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Ray BarboneDuring the annual National Mortgage Servicing Association (NMSA) member meeting in Washington D.C., on April 5,  NMSA announced the appointment of Ray Barbone, EVP of Mortgage Services at BankUnited, as the new Chairman. Barbone assumed the position recently vacated by J.K. Huey, SVP at Wells Fargo, whose term ended in April. Huey won’t be ending her service to the group near term however, as she was named chairman emeritus of NMSA in recognition of her decades of service to the mortgage industry and her longstanding support of the organization.Huey served as NMSA Chairman from 2015-2017, and prior to Wells Fargo, has held management positions at several leading mortgage organizations, including IndyMac, Washington Mutual, and Homeside Lending. She has also chaired numerous organizations in the mortgage industry, and served as an executive board member for several strategic groups.“What an excellent experience this has been, to work with industry colleagues to encourage and drive needed changes for our industry,” said Huey. “A great deal of work has been accomplished because of NMSA members and our Five Star partners, and I can’t thank these leaders enough for all they have done. As I transition this over to Ray Barbone, I know I am leaving this group in great hands.”Barbone brings several decades of experience to the NMSA. Prior to serving at BankUnited, Barbone was group SVP for operations at ABN AMRO Mortgage Group in Jacksonville, Florida, and before that spent 14 years as controller and SVP at Atlantic Mortgage & Investment Corp.Barbone’s service to the mortgage industry was recognized in 2015 when he was aJ.K. Hueynnounced as a recipient of the 2015 Lifetime Achievement Award from the  Five Star Institute.“The NMSA members represent a significant majority of the market and, as an association, have done some wonderful work on behalf of the industry over the years,” said Barbone “I appreciate the opportunity to be a member these past years and honored to be selected for this leadership role. I look forward to working with the NMSA membership in our continued efforts to advocate for consumers, homeownership and the industry.”The NMSA is a nonpartisan organization driven by top level executives and leaders to effect progress and change on the key challenges that face the mortgage servicing industry. NMSA member corporations represent over 80 percent of the mortgage industry.. The NMSA meeting hosted various leaders, policy makers, and agencies including most recently the Consumer Financial Protection Bureau Director Richard Cordray to discuss critical issues impacting the mortgage servicing industry. Servicers Navigate the Post-Pandemic World 2 days ago Previous: Dart Appraisal, HouseCanary Announce New Valuation Product Next: Small Cities Post Higher Credit Scores Than Big Ones About Author: Seth Welborn Tagged with: mortgage Servicing Related Articles Servicers Navigate the Post-Pandemic World 2 days agocenter_img in Daily Dose, Featured, Foreclosure, News, Technology Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Subscribe The Week Ahead: Nearing the Forbearance Exit 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 Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago April 14, 2017 2,002 Views Share Save Servicing Association Announces Leadership Changeslast_img read more

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Home Prices to Continue Climbing

first_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post in Daily Dose, Featured, Headlines, Journal, Market Studies, News The Best Markets For Residential Property Investors 2 days ago If current analyses are any indication, home prices in the land of Uncle Sam aren’t heading south anytime soon, this according to the Winter 2018 edition of The Housing and Mortgage Market Review (HaMMR), released by Arch Mortgage Insurance Company (Arch MI). Among the assessments, U.S. housing prices will keep climbing by 2 to 6 percent yearly, especially in the entry-level space. “With interest rates and home prices both on the rise, first-time homebuyers—largely millennials—may want to consider making the jump from renting to owning sooner rather than later,” said Dr. Ralph G. DeFranco, Global Chief Economist, Mortgage Services, Arch Capital Services Inc. “Our research shows few signs of a housing bubble because the typical warning signs aren’t present. Overall, the shortage of housing paired with a robust job market should keep the housing market strong and growing, short of an unexpected event and despite the contrary pressures that may be created by the tax bill.”Arch MI also debuted a new tool in this edition: the Estimated Fundamental Home Value Index (Fundamental HVI) spots housing bubbles by evaluating home prices across 50 states and 401 metros.“The index suggests that the average probability of home price declines in America’s 401 largest cities remains unusually low, at 5 percent,” the report says. “This trend reflects broad-based favorable fundamentals, such as a tightening job market, relatively low interest rates, and a limited number of homes for sale.”As for the new U.S. tax code, the report contends that the changes might bruise higher-cost, high-tax markets but benefit lower-cost ones. Limitations on the ability to deduct state, local, and property taxes will translate into bigger tax bills for many upper-middle-class members, the report continues. The upshot: “a permanent dampening effect in high-cost areas relative to the previous tax rules,” it notes.New York, New Jersey, Connecticut, California, and Maryland are the hardest-hit states, the report says. Some areas could see price drops, with Connecticut and New Jersey most vulnerable due to anemic home-price and population growth. Generally speaking, prices in higher-cost places are still likely to increase due to economic growth, just at a reduced pace.You can read the full report by clicking here. Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Home Prices to Continue Climbing The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: The Long-Term Impact of Hazard Mitigation Next: The Top 25 Women of Law, Part 4 Servicers Navigate the Post-Pandemic World 2 days ago Arch MI Arch Mortgage Insurance Company Estimated Fundamental Home Value Index Home Prices Housing and Mortgage Market Review 2018-01-23 Alison Rich Related Articles About Author: Alison Richcenter_img January 23, 2018 1,717 Views Home Prices to Continue Climbing Data Provider Black Knight to Acquire Top of Mind 2 days ago Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save Subscribe Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Arch MI Arch Mortgage Insurance Company Estimated Fundamental Home Value Index Home Prices Housing and Mortgage Market Reviewlast_img read more

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Exploring Ethics in REO

first_img Previous: Is the Sky Falling Over the Housing Market? Next: Freddie Mac Takes Q4 Hit Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Exploring Ethics in REO Subscribe Emerald Valley Real Estate Ethics Ethics Matter Federation of REO Certified Experts FORCE FORCE webinar REO Tara Nagelhout Webinar 2018-02-15 David Wharton Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago in Events, Featured, Headlines, Media, News, REO, Webinars  Print This Post Related Articles Home / Events / Exploring Ethics in REO The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Emerald Valley Real Estate Ethics Ethics Matter Federation of REO Certified Experts FORCE FORCE webinar REO Tara Nagelhout Webinar Share Save Demand Propels Home Prices Upward 2 days ago About Author: David Wharton 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 Demand Propels Home Prices Upward 2 days ago On Thursday, February 15, from 2:00 p.m. to 3:00 p.m. CST, the Five Star FORCE (The Federation of REO Certified Experts) will host the “Ethics Matter” webinar. The presentation will focus on the value of ethics in real estate as agents and brokers help customers achieve the American Dream of Homeownership.In the “Ethics Matter” webinar, Tara Nagelhout, FORCE Advisory Council Member and Principal Broker at Emerald Valley Real Estate, will break down why it’s crucial for real estate agents to uphold a code of ethics that creates honest and fair dealings with all of their clients. In addition to a Q&A session with Nagelhout, the webinar will focus on topics such as:The difference between a client and a customerHow an agent’s fiduciary duty to their client impacts their interactions with homebuyersLeaving your preconceived ideas at the doorThe challenges and intricacies of working in REOREO paperwork challengesIn distressed sales, everything is not negotiableGetting the best results for your selling partnerThe importance of disclosureTo register for the webinar, click here.The Five Star FORCE is the Five Star Institute’s REO member organization comprised of pre-screened, certified, and experienced REO agents. Focused on the improvement of REO agent performance through lender- and servicer-driven education, the FORCE acts as a conduit of communication between the REO agent/broker community and the servicing shops they serve.You can find a list of recent webinars from the FORCE Webinar series on the official FORCE website. They include “Women-Owned Small Business 101,” presented by the American Mortgage Diversity Council; “Channeling New Marketing Strategies in Real Estate,” presented by Altisource; “A Look at Resolve by Lowe’s, Hosted by Alacrity”; and “State of the FORCE With Five Star President and CEO, Ed Delgado.”For more information on The Five Star FORCE, click here. February 15, 2018 5,353 Views last_img read more

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Single-Family Rental Prices Bode Well for Investors

first_imgSubscribe The Best Markets For Residential Property Investors 2 days ago Related Articles Previous: Mortgage Servicing Industry Braces for Next Disaster Next: Appeals Court Addresses Foreclosures & Promissory Notes Single-family rental (SFR) prices are continuing to rise, with low-end rent price gains outpacing high-end rental price increases, according to the latest Single-Family Rent Index from CoreLogic.Rental prices in the SFR market increased 2.7 percent year-over-year in March, with the pace holding steady with that recorded a year earlier. Prices in the high-end market rose 2.3 percent, compared to an increase of 3.9 percent in the low-end market, according to CoreLogic’s data. CoreLogic considers properties with prices higher than 125 percent of the region’s median rent price as “high end,” while “low end” encompasses all those with rent prices lower than 75 percent of the regional median rent price.“While prices for low-end rentals are still outpacing the high-end cohort, a decrease in the growth rate could signal that prices are beginning to stabilize,” CoreLogic noted.Overall, rent prices have been on the rise since 2010. They peaked in February 2016 with a 4.2 percent annual increase and have been slowing since.“Most metropolitan areas are seeing steady rent increases both month over month and year over year, with southern metros showing the fastest growth,” said Molly Boesel, Principal Economist at CoreLogic.Some factors that fuel rent price growth are “limited new construction, low rental vacancies, and strong local economies that attract new employees,” according to CoreLogic. Naturally, steadily increasing home values and the ongoing shortages of available housing stock, especially for first-time homebuyers, is also contributing to the uptick of rental prices. People need places to live, but finding them—whether within the purchase or rental space—remains challenging as we approach the halfway mark in 2018.CoreLogic noted that Orlando and Phoenix both had high year-over-year SFR price growth in March, as well as strong employment growth. Orlando and Phoenix recorded 5.4 percent and 5.2 percent rental price growth over the year in March, respectively, placing them in the No. 2 and No. 3 spots on CoreLogic’s list of SFR price growth across the 20 metros it tracks.Orlando’s employment growth was 3.5 percent over the year, and Phoenix’s was 3.2 percent. These compare to a national employment growth rate of 1.6 percent, which CoreLogic quoted from the Bureau of Labor Statistics. Rental growth was highest in Las Vegas, which claimed the No. 1 spot on CoreLogic’s Single-Family Rental Index for March with a 5.5 percent increase. In addition to finding a correlation between strong employment growth and accelerated rental price growth, CoreLogic also noted that “disaster-struck areas” also tended to have high paces of rental price increases. Rental prices in Houston, for example, are up 3.4 percent on an annual basis in March. Houston experienced its first rental price increase since April 2016 in October of last year, according to CoreLogic. The only metro on the index to chart a decrease in rental price growth was Honolulu, which has recorded price drops for five straight months. March’s decrease was 0.4 percent over the year.To read about some of the best markets for single-family rental investment, click here. Data Provider Black Knight to Acquire Top of Mind 2 days ago CoreLogic Single Family Rental 2018-06-19 Krista Franks Brock Home / Daily Dose / Single-Family Rental Prices Bode Well for Investors Tagged with: CoreLogic Single Family Rental Demand Propels Home Prices Upward 2 days ago Single-Family Rental Prices Bode Well for Investors Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. About Author: Krista Franks Brock Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago June 19, 2018 3,033 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Investment, Journal, Market Studies, News  Print This Post Share Save Sign up for DS News Daily last_img read more

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Lower the Risk, Lesser the Regulation Says Fed

first_img The Best Markets For Residential Property Investors 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Tagged with: Banks Compliance Federal Reserve Regulation Risks in Daily Dose, Featured, Government, News Home / Daily Dose / Lower the Risk, Lesser the Regulation Says Fed Lower the Risk, Lesser the Regulation Says Fed Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Share Save Previous: The Work From Home Effect Next: Which Three States Have Ended Veteran Homelessness? Subscribe Demand Propels Home Prices Upward 2 days ago October 31, 2018 1,563 Views Banks Compliance Federal Reserve Regulation Risks 2018-10-31 Radhika Ojhacenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago The Federal Reserve Board is planning to match the regulations for large banking organizations with their risk profiles.In an invitation for public comment on this framework on Wednesday, The Fed said that the changes would reduce compliance requirements for banks with less risk while maintaining more stringent requirements for financial institutions that had higher risks.”The proposals would prescribe materially less stringent requirements on firms with less risk while maintaining the most stringent requirements for firms that pose the greatest risks to the financial system and our economy,” said Jerome H. Powell Chairman of the Federal Reserve.Building on the Fed’s existing tailoring of its rules and consistent with the changes from the Economic Growth, Regulatory Reform, and Consumer Protection Act, large banks with total consolidated assets of more than $100 billion would fall under four categories under these new guidelines.The biggest banks in the U.S. such as JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street, and Northern Trust would fall under the first two categories. Banks under this category, according to the Fed are high risk and would not see any changes in regulations related to their capital or liquidity requirements.Under the third category, financial institutions such as U.S. Bancorp, PNC Financial, Capital One, and Charles Schwab would have their standardized liquidity requirements reduced to reflect their more stable funding profile but remain subject to a range of enhanced liquidity standards. They would also be required to conduct company-run stress tests on a two-year cycle rather than semi-annually. However, they would remain subject to the annual supervisory stress tests.A majority of banks in the U.S. fall under the fourth category, the lowest-risk one and would no longer be subjected to standardized liquidity requirements. While they would remain subject to firm-developed liquidity stress tests and regulatory liquidity risk management standards, these firms would no longer be required to conduct company-run stress tests, and their supervisory stress tests would be moved to a two-year cycle, rather than an annual one.”With these proposals, banking organizations will see reduced regulatory complexity and easier compliance with no material decline in the strength of the U.S. banking system,” said Randal K. Quarles Vice Chairman for Supervision at the Federal Reserve.Hailing this move as a positive one, Jeb Hensarling, House Financial Committee Chairman, said that the new framework provided clarity to banks on regulatory requirements. “I wish the proposal went further but it represents a much-needed tailored approach to regulatory supervision.To view the details of the Prudential Standards for Large Bank Holding Companies and Savings and Loan Holding Companies framework by the Fed, click here. The Best Markets For Residential Property Investors 2 days ago 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 agolast_img read more

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Top 5 Cities for Housing

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 20, 2018 1,814 Views Affordability Florida Homes HOUSING WalletHub 2018-11-20 Radhika Ojha Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago It’s not just the balmy climate and the sandy coastline that attracts residents to the Sunshine State. As the fourth largest economy in the country and one of the largest job creators, Florida has cultivated the reputation of also being one of the best states to raise children, according to an analysis by WalletHub that compared 183 Florida cities across 21 key metrics to identify those that offered the best combination of family-friendly factors.They included factors such as housing affordability, school system, general affordability, and income.While Oviedo, was ranked No.1 with an overall score of 75.47, Fruit Cove with a score of 72.43 came a close second. Horizon West (72.15); Parkland (71.54); and Palm Valley (71.47) rounded off the top 5 cities, according to the analysis.Cities in the Miami metropolitan area, however, were among the bottom-ranked on this list. At 183 South Miami Heights languished at the bottom with a score of 28.27. North Miami fared slightly better with a score of 28.67 and a ranking of 182. West Little River (29.91); Leisure City (29.91); and Tamiami with a score of 30.66 made up the bottom five cities.Florida cities that boasted the most affordable housing included West Pensacola, Bellview, North Fort Myers, Brent, and Pace. On the other hand, the most expensive cities for housing were also some of Florida’s largest cities. They included Miami, Miami Beach, Coral Gables, University Park, and Westchester.Interestingly, Miami was also among the cities with the lowest median family income along with University, Oak Ridge, Hialeah, and Immokalee.Palm Valley, Fleming Island, Winter Park, Fruit Cove, and Jacksonville Beach were among the cities that boasted the highest median family income.In terms of overall affordability, Palm Valley was ranked first (ranked five overall), while Fruit Cove came in second followed by Fleming Island. Despite being ranked 39th overall, Jacksonville Beach came in fourth in the affordability rankings, followed by Lutz which was ranked 19th overall on the list of Florida’s cities. Top 5 Cities for Housing Related Articles in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Top 5 Cities for Housing Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Tagged with: Affordability Florida Homes HOUSING WalletHub The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Redefining Property Values Next: Figure Helps Homeowners Leverage Home Equity for Retirement Data Provider Black Knight to Acquire Top of Mind 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.  Print This Post The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share 1Save Sign up for DS News Daily Subscribelast_img read more

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