DS News Webcast: Monday 2/3/2014

first_imgSign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days ago February 3, 2014 558 Views Related Articles DS News Webcast: Monday 2/3/2014 Nationally, home-selling speeds slowed again in December, but the pace still remains brisk in many markets. Online brokerage Redfin reports the median time on market for homes in its 21-city survey was 35 days in December, up three days from November. San Francisco and San Jose led the pack in market speed, with both cities posting a median market time of just 18 days. While that was a bit slower than November’s pace, it was still almost a week faster than Washington and Ventura, which came in second with a median 24 days on market. The slowest market was Philadelphia; homes in the City of Brotherly Love spent a median 72 days listed before going under contract.The nation’s homeownership rate ticked down slightly in the fourth quarter, according to government data. Figures released by the Census Bureau show the national homeownership rate slipping to 65.2%, down one-tenth of a percentage point from the third quarter. It was the lowest fourth-quarter rate since 1995. Still, it was an improvement compared to the first half of 2013, when homeownership stayed flat at an even 65%. The Best Markets For Residential Property Investors 2 days ago  Print This Post Previous: Non-Prime Lending – Rosen, Anchor Financial News Network/CEO Pitbull Conference Next: Consumer Optimism Declines as Uncertainty Lingers 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 in Featured, Media, Webcastscenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2014-02-03 DSNews About Author: DSNews Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / DS News Webcast: Monday 2/3/2014 Subscribelast_img read more

Home Prices Continue Upward Climb in April

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Tagged with: CoreLogic Home Price Index Home Prices in Daily Dose, Featured, Headlines, Market Studies, News Home Prices Continue Upward Climb in April The Best Markets For Residential Property Investors 2 days ago 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. Share Save In its latest Home Price Index, CoreLogic reported that home prices continue to rise across the nation, with more increases to come in 2015.The company reported that home prices, including distressed sales, increased 10.5 percent in April from the previous year. The company projects home prices will continue to increase by 1.0 percent month-over-month in May. Furthermore, national home prices are expected to rise by 6.3 percent from April 2014 to April 2015.”The weakness in home sales that began a few months ago is clearly signaling a slowdown in price appreciation. The 10.5 percent increase in April, compared to a year earlier, was the slowest rate of appreciation in 14 month,” said Sam Khater, deputy chief economist for CoreLogic.April marks the 26th consecutive month of year-over-year home price gains. Excluding distressed sales, CoreLogic found that home prices increased by 8.3 percent year-over-year.Unfortunately, despite the modest April gains, home prices across the nation remain 14.3 percent below their August 2006 peak.”Home prices are continuing to rise as we head into the summer months. The purchase market continues to suffer from a dearth of inventory which we expect will continue to drive prices up over the year,” said CoreLogic president and CEO, Anand Nallathambi.Excluding distressed sales, all 50 states and the District of Columbia showed year-over-year home price appreciation in April. The company found that 23 states and the District of Columbia are at or within 10 percent of their peak.Including distressed sales, the five states registering the largest year-over-year home price appreciation in April were California (15.6 percent), Nevada (14.8 percent), Hawaii (14.1 percent), Oregon (11.8 percent), and Michigan (11.3 percent).States remaining the furthest from peak values in April include: Nevada (-38.6 percent), Florida (-34.5 percent), Arizona (-29.5 percent), Rhode Island (-28.8 percent), and West Virginia (-24.2 percent). June 3, 2014 1,238 Views The Best Markets For Residential Property Investors 2 days ago Previous: Massachusetts AG Sues Fannie/Freddie Over Buyback Programs Next: Survey: Is the Country Still in a Housing Crisis? Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Home Prices Continue Upward Climb in April Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles About Author: Colin Robins CoreLogic Home Price Index Home Prices 2014-06-03 Colin Robins Subscribe Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

The Rocky Road for Non-Bank Servicers

first_img April 21, 2016 1,150 Views  Print This Post Dallas, Texas-based Nationstar Mortgage was the only one out of the three largest U.S. non-bank mortgage servicers rated by Moody’s to turn a profit during 2015, according to Moody’s Investors Service’s Servicer Dashboard on Thursday.Nationstar’s net income for 2015 was $43 million, while the other two largest servicers, Ocwen Financial Corp. and Walter Investment Management Corp., posted losses of $246.7 million and $263.2 million for last year, respectively.“Nationstar was the only large Moody’s-rated non-bank mortgage servicer to be profitable in 2015, and its net income was just $43 million,” said Warren Kornfeld, Moody’s analyst. “Concurrently, all three non-bank servicers’ reliance on confidence-sensitive, short-term funding heightens their liquidity and refinancing risk, while Walter faces the additional challenge of a weak capital position.”According to Moody’s, profitability has been weak for non-bank servicers over the last couple of years due to mortgage servicing right fair value adjustments, goodwill impairments, and higher regulatory expenses. Operating costs as a percentage of revenues for both Ocwen and Walter have risen as a result of intense regulatory scrutiny for residential mortgage servicers, according to Moody’s; however, Nationstar’s operating costs as a percentage of revenues have been more steady. Moody’s expects that Nationstar’s earnings will improve only marginally in 2016 as operating costs rise due to increased regulatory scrutiny.“Concurrently, all three non-bank servicers’ reliance on confidence-sensitive, short-term funding heightens their liquidity and refinancing risk, while Walter faces the additional challenge of a weak capital position.” Warren Kornfeld, Moody’s AnalystElsewhere in Moody’s Servicer Dashboard, Nationstar and Ocwen continued to have a higher level of loss mitigation than their bank peers in Q4 2015 while re-default rates on modifications either remained flat or improved slightly. The non-bank servicers also had lower missed payment to foreclosure referral timelines compared with bank mortgage servicers (less than one year on average for subprime for non-bank servicers, compared with more than two years for bank mortgage servicers). Subprime collection metrics continued to improve for all mortgage servicers, both bank and non-bank, in the country in the fourth quarter; Wells Fargo was tops in subprime, and CitiMortgage led in prime and Alt-A, according to Moody’s.New delinquencies and roll rates experienced declines in Q4, notably for subprime loans, largely as a result of ongoing improvements in the economy, according to Moody’s. Tagged with: Nationstar Mortgage Non-Bank Servicers Profits Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Rocky Road for Non-Bank Servicers Related Articles in Daily Dose, Featured, News About Author: Brian Honea Nationstar Mortgage Non-Bank Servicers Profits 2016-04-21 Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: MCS Announces Formation of MCS Solutions Next: Is Securitization All It’s Cracked Up To Be? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Rocky Road for Non-Bank Servicers Sign up for DS News Daily Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Fitch: Market Dictates Varied Staffing Levels among Servicers

first_img Fitch: Market Dictates Varied Staffing Levels among Servicers Tagged with: Banks Fitch Ratings non-banks Servicers in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 10, 2016 1,359 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Banks Fitch Ratings non-banks Servicers 2016-10-10 Kendall Baer Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Home / Daily Dose / Fitch: Market Dictates Varied Staffing Levels among Servicers Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Subscribe Previous: State Spotlight: Foreclosures on the Rise in Oklahoma Next: The Housing Industry’s Response When Disaster Strikes The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Depository institutions appear to be reducing mortgage servicing staff at a faster rate than non-bank servicers as portfolio sizes decline and loan performance improves, according to Fitch Ratings’ latest quarterly U.S. RMBS Servicer Handbook.This installment of the Servicer Handbook (the sixth that Fitch has published) contains data on key indicators through Q2 of 2016 that, when taken together, can give insight into the overall health of the mortgage market.The glaring statistic associated with the report is that banks have reduced their mortgage servicing staff by nearly half on average in the past two years. Two years ago, the average depository institution employed approximately 8,000 employees devoted to mortgage servicing. That number has dipped down to just north of 4,000.  In contrast, the report says that non-bank servicers do not appear to be in any hurry to reduce staffing levels, the number of servicing employees at these institutions has remained fairly constant on average at approximately 2,000 employees.“In fact, bank servicers now manage more than twice as many mortgage loans per employee compared to non-bank servicers, a comparison not likely to change to any great degree anytime soon.”  – Fitch RatingsFitch attributes the steadiness in staffing levels to the focus these non-bank institutions are putting on growing their servicing portfolios.  Further, historically speaking, the company argues that the need for more robust staffing levels is also buoyed by the requirement that non-bank customers have for more frequent interaction.“In addition to lower mortgage delinquencies, high credit quality portfolio additions mostly brought on by origination activity are also contributing to reduced staff among bank servicers,” the ratings agency said while previewing the release. “In fact, bank servicers now manage more than twice as many mortgage loans per employee compared to nonbank servicers, a comparison not likely to change to any great degree anytime soon.” The handbook also dives into the difference in loss mitigation strategies between the two types of servicing institutionsClick HERE to view the Report The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Kendall Baerlast_img read more

Wells Fargo Wants More African American Homeowners

first_img Demand Propels Home Prices Upward 2 days ago Subscribe Previous: Caliber Acquires Banc of California Mortgage Division Next: Carson Secures HUD Secretary Position Data Provider Black Knight to Acquire Top of Mind 2 days ago Wells Fargo Wants More African American Homeowners The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: African American Homeownership mortgage NAACP Wells Fargo Share Save African American Homeownership mortgage NAACP Wells Fargo 2017-03-01 Staff Writer Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Wells Fargo plans to assist 250,000 African Americans become homeowners by 2027 with a $60 billion lending commitment. Over the next 10 years, Wells Fargo will build up this program by offering continued support with $15 million toward initiatives promoting financial education and counseling and increasing the diversity of their home lending sales team.“Wells Fargo’s $60 billion lending goal can contribute to economic growth by making responsible homeownership possible for more African Americans in communities across the country,” said Brad Blackwell, EVP and head of housing policy and homeownership growth strategies for Wells Fargo. “We are proud to be the first mortgage lender to make a public commitment to help increase African American homeownership. And, we are grateful for the support of key housing and civil rights organizations, who work alongside us to increase economic prosperity in our communities.”A report by the Urban Institute notes how the African American community was the hardest hit during the housing crisis. Black homeownership grew by six percent when the Fair Housing Act passed, but that growth was stunted between 2000 and 2015, and eventually reversed. Since 2000, African Americans have seen the most decline in homeownership of any group.This has not dampened the desire to own homes, though. Through consumer surveys provided by Ipsos Public Affairs, Wells Fargo has found that African Americans have a positive outlook on homeownership. A 2016 survey finds that 90 percent of African Americans view home ownership as a “dream come true” and 79 percent believe homeownership is essential for families. Fifty-one percent of African Americans are planning on buying a home in the next two years.Wells Fargo joins the National Association of Real Estate Brokers (NAREB) alongside the NAACP and the National Urban League in bridging the gap of homeownership. “NAREB applauds Wells Fargo’s $60 billion loan commitment. The bank is the first financial institution to acknowledge publicly Black Americans’ wealth-building potential which could be greatly improved through homeownership,” said Ron Cooper, president of NAREB. “Let us all work together and grow this initiative which represents a solid and meaningful start for more Black Americans to become homeowners and wealth-builders.”Read the announcement from Wells Fargo here. The Best Markets For Residential Property Investors 2 days ago Related Articles March 1, 2017 1,812 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News About Author: Staff Writer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Wells Fargo Wants More African American Homeowners Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

GSEs Complete 15K in Foreclosure Prevention Actions

first_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Foreclosure GSE Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / GSEs Complete 15K in Foreclosure Prevention Actions The Best Markets For Residential Property Investors 2 days ago Foreclosure GSE 2017-04-12 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Aly J. Yale The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Foreclosure, News GSEs Complete 15K in Foreclosure Prevention Actionscenter_img Previous: Moderate Earners Losing Home Selection Next: Hensarling Discusses How to Bring Accountability to the CFPB The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Aly J. Yale is a freelance writer and editor based in Fort Worth, Texas. She has worked for various newspapers, magazines, and publications across the nation, including The Dallas Morning News and Addison Magazine. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more. Sign up for DS News Daily Share Save Demand Propels Home Prices Upward 2 days ago  Print This Post GSE foreclosure starts jumped 10 percent in January, and third-party and foreclosure sales increased 16 percent, according to a Foreclosure Prevention Report released by the Federal Housing Finance Agency on Wednesday.According to the report, which covered GSE foreclosures and prevention activities over the course of January 2017, foreclosure starts rose from 15,133 to 16,604 between December and January. Third-party and foreclosure sales increased from 5,764 to 6,705 over the same period.The report also revealed that the GSEs completed nearly 15,000 foreclosure prevention actions for the month. To date, the Enterprises have taken 3.8 million prevention actions. In January, 9,405 of the foreclosure prevention actions were permanent loan modifications. Since the GSEs’ conservatorship began in September 2008, they have completed 2 million permanent loan modifications—more than half of the Enterprises’ total prevention actions in that time.Of the Enterprises’ permanent loan modifications in January, the share of those with principal forbearance dipped to 19 percent. Extend-term modifications increased to 44 percent, likely due to strong housing price growth.According to Wednesday’s report, the serious delinquency rate stayed steady at 1.12 percent for the month, while loans delinquent 30 to 59 days dropped—from 1.45 percent to 1.36 percent—and loans delinquent 60-plus days dipped as well, decreasing from 1.52 percent to 1.49 percent. Short sales and deeds-in-lieu decreased 5 percent, hitting 1,615 in January, while total home forfeiture actions dipped from 15,526 to 14,558.The Prevention Report comes on the back of the GSE Progress Report, which the FHFA released in late March. The report noted Fannie Mae’s and Freddie Mac’s achievements last year, specifically as they relate to goals set in the 2016 Scorecard.Of the report, FHFA Director Mel Watt said, “In collaboration with Fannie Mae and Freddie Mac, FHFA has made significant progress in meeting our conservatorship objectives. This report underscores our commitment to transparency as we continue to foster liquidity and efficiency in the housing finance markets, reduce risk to taxpayers and build a new mortgage securitization infrastructure, all in a safe and sound manner.”To read the full Foreclosure Prevention Report, visit FHFA.gov. April 12, 2017 1,160 Views Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Mortgage Deduction Possibility Causes Uncertainty

first_img Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Future of PMI Next: Disclosing the Details August 23, 2017 1,320 Views Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brianna Gilpin Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save In December 2016, then incoming Treasury Secretary Steve Mnuchin pronounced that the Trump Administration’s No. 1 priority would be tax reform—boldly stating it would be the “largest tax change since Reagan.” However, with that change could come significant adjustments to the mortgage interest deduction, something that stirs mixed emotions across the country.In a working paper series, the National Bureau of Economic Research (NBER) found that the mortgage deduction had a no effect on homeownership—even in the long run, but rather had sizable impact on housing demand, causing buyers to purchase larger and more expensive homes. The largest effect was on household financial decisions, including increased debt.In an interview with CNBC, Doug Yearley, CEO of Toll Brothers, a fortune 500 homebuilder, said the change would discourage homeownership as a whole and, while talk in Washington, D.C., has been about modifying the deduction for the last 10 years, he doesn’t see it gaining any traction. However, Ten-X EVP Rick Sharga told MReport that he believes the change could happen—likely only to the $1 million cap.“Based on what we’ve heard so far from the Trump Administration and Capitol Hill, it seems likely that the mortgage interest tax deduction will stay intact; but proposed tax reforms which raise the personal tax deduction to $25,000 for joint filers may discourage taxpayers from itemizing their taxes and taking advantage of the mortgage deduction,” Sharga said.This could actually have a greater impact on the housing market than modifying the mortgage deduction by lowering the cap. Sharga said, “Consumers who are weighing the pros and cons of homeownership will no longer have the financial incentive to buy a home.”To see the full NBER working paper series, click here. Related Articles The Best Markets For Residential Property Investors 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] in Daily Dose, Featured, Government, News  Print This Postcenter_img Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Mortgage Deduction Possibility Causes Uncertainty Mortgage deduction 2017-08-23 Brianna Gilpin The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Mortgage deduction Demand Propels Home Prices Upward 2 days ago Mortgage Deduction Possibility Causes Uncertainty The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily last_img read more

Where Inventory’s Growing, And Where It Isn’t

first_img Servicers Navigate the Post-Pandemic World 2 days ago After four years of declining inventory, prompting rising prices and bidding wars, the housing market finally experienced some relief in October. Nationally, housing inventory increased 2 percent in October with an additional 25,000 listings on the market, according to a realtor.com report released yesterday.Not only were there more listings on the market in October, but also the homes hitting the market were cheaper than existing listings. New listings, which increased 4 percent in October, were 8 percent cheaper than previously listed properties, translating a discount of about $25,000 compared to existing listings.New listings were also about 190 square-feet smaller than existing listings, according to realtor.com.These cheaper and smaller listings could be particularly attractive to new homebuyers.“The inventory increase will not solve the problem overnight, but it should provide some relief to those still in the market, especially if the growth we’re seeing in more affordable homes and condos hold steady,” said Danielle Hale, Chief Economist at realtor.com. “However, affordability is still an issue with increasing mortgage rates and prices keeping many would-be buyers on the sidelines.”Not only did inventory pick up at the national level, but also inventory increased in more than half of the 45 major markets realtor.com tracks for the first time since 2014. Inventory in 26 of the 45 markets tracked increased in October, compared to increases in 22 markets reported the previous month.In San Jose, California, one of the highest priced and most competitive markets in the country, the number of active listings in October was up 130 percent from last year, while new listings increased 28 percent.San Jose far outpaced all other markets in terms of inventory growth, but the Seattle, Washington, metro—another hot market—ranked second in overall inventory growth with a 60 percent increase in active listings over the year.Seattle was followed by the San Francisco metro, where listings increased 42 percent, the San Diego metro with a 41 percent increase and the Nashville metro with a 32 percent increase.At the other end of the spectrum, the Indianapolis metro experienced the greatest inventory decline among the 45 metros in the study. Inventory is down 16 percent since last year, although new listings rose 13 percent over the year.Similarly, the Milwaukee, Wisconsin; Oklahoma City, Oklahoma; and Pittsburgh, Pennsylvania, metros all experienced inventory drops of at least 10 percent over the year in October. in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago November 1, 2018 1,457 Views Servicers Navigate the Post-Pandemic World 2 days ago Housing Affordability Housing Inventory Housing Market New Homebuyers 2018-11-01 Krista Franks Brock The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 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 Previous: Recognizing Great Work Cultures Next: Fannie’s Innovation in Credit Risk Transfer Demand Propels Home Prices Upward 2 days ago Related Articlescenter_img Where Inventory’s Growing, And Where It Isn’t Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save  Print This Post Tagged with: Housing Affordability Housing Inventory Housing Market New Homebuyers Home / Daily Dose / Where Inventory’s Growing, And Where It Isn’t Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Subscribelast_img read more

The Week Ahead: Spotlight on Home Sales

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Churchill’s Founder and President Recognized as ‘Most Admired CEO’ Next: Measuring Household Debt Demand Propels Home Prices Upward 2 days ago Tagged with: Existing Home Sales First American Home Prices Homes HOUSING Inventory Lawrence Yun Mortgage Rates NAR About Author: Radhika Ojha November 18, 2018 1,450 Views Servicers Navigate the Post-Pandemic World 2 days ago Share Save Home / Daily Dose / The Week Ahead: Spotlight on Home Sales  Print This Post Subscribe The Week Ahead: Spotlight on Home Sales Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Newscenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago On Wednesday, the National Association of Realtors (NAR) will release its data on existing home sales for October. The report highlights statistics related to national and regional existing home sales and includes data for 12 months and annual totals going back three years.The sales for existing homes stagnated in August before declining in September by 3.4 percent from the prior month. The report for September revealed that existing home sales were down 4.1 percent from a year ago to 5.15 million from 5.37 million in September 2017. Rising rates had led to a decline in sales across the country according to Lawrence Yun, Chief Economist at NAR. “This is the lowest existing home sales level since November 2015,” he said. “A decade’s high mortgage rates are preventing consumers from making quick decisions on home purchases. All the while, affordable home listings remain low, continuing to spur underperforming sales activity across the country.”The report noted that the median existing-home price for all housing types in September was $258,100, up 4.2 percent from September 2017 ($247,600). September’s price increase marks the 79th straight month of year-over-year gains. Total housing inventory at the end of September decreased from 1.91 million in August to 1.88 million existing homes available for sale and was up from 1.86 million a year ago. Unsold inventory stood at a 4.4-month supply at the current sales pace, up from 4.3 in August and 4.2 months a year ago.Here’s what else is in store in the week ahead:NAHB Housing Market Index, Monday, 10 a.m. ESTCensus Bureau Housing Starts, Tuesday, 8:30 a.m. ESTMBA Mortgage Apps, Wednesday, 7 a.m. ESTFirst American Loan Application Defect Index The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Existing Home Sales First American Home Prices Homes HOUSING Inventory Lawrence Yun Mortgage Rates NAR 2018-11-18 Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 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. last_img read more

Tallying Foreclosure Prevention Actions

first_imgHome / Daily Dose / Tallying Foreclosure Prevention Actions Subscribe Tagged with: Delinquencies Delinquent Loans Fannie Mae FHFA Foreclosure Freddie Mac Loan Modification The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save 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. January 23, 2019 1,196 Views Servicers Navigate the Post-Pandemic World 2 days ago Delinquencies Delinquent Loans Fannie Mae FHFA Foreclosure Freddie Mac Loan Modification 2019-01-23 Radhika Ojha About Author: Radhika Ojha Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Serious delinquency rates of loans at Fannie Mae and Freddie Mac saw a slight drop from 0.79 percent in September to 0.76 percent at the end of October according to the Federal Housing Finance Agency (FHFA’s) latest Foreclosure Prevention Report for October 2018. However third party and foreclosure sales and foreclosure starts increased during the month compared to September 2018, the report revealed.While third-party and foreclosure sales increased from 3,705 in September to 4,416 in October 2018, foreclosure starts increased from 9,419 to 12,752 during the same period. The report found 633 short sales and deeds-in-lieu of foreclosure completed in October, showing a slight increase from September 2018.The report, which analyzes the foreclosure prevention actions taken by Fannie Mae and Freddie Mac (the enterprises) indicated that in October the enterprises completed a total of 15,272 foreclosure prevention actions, which was slightly more than the 15,042 actions completed by Fannie and Freddie in the previous month.Looking at historical data, the report said that together, the enterprises had completed more than 4.2 million foreclosure preventions since the start of their conservatorships in September 2008. Over half of these actions have been permanent loan modifications.Breaking down the foreclosure prevention figures, the FHFA said that Fannie Mae and Freddie Mac completed 10,484 loan mods in October, slightly lower than the 11,163 loan modifications completed in the previous month. Adding October’s figures, the enterprises have completed a total of more than 2.2 million loan modifications since their conservatorship began.FHFA also indicated that 28 percent of modifications in October were modifications with principal forbearance. On the other hand, modifications with extend-term only accounted for 64 percent of all loan modifications during the month.During the period, the report found that a majority of delinquent loans, 343,270, were in the 30-59 days delinquent category. Loans that were 60-plus days delinquent stood at 305,101 a slight drop from 313,626 loans in September.Click here to read the full report. The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Tallying Foreclosure Prevention Actions Servicers Navigate the Post-Pandemic World 2 days ago Previous: Why U.S. Bank is the “World’s Most Admired Company” Next: Affordable Homes: What’s That? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more