Month: May 2021

DS News Webcast: Friday 5/16/2014

first_img  Print This Post DS News Webcast: Friday 5/16/2014 The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2014-05-16 DSNews Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Sign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days ago Previous: Mortgage Rates Decline for Third Straight Week Next: LRES Promotes New VP of Valuations 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 agocenter_img The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Featured, Media, Webcasts Servicers Navigate the Post-Pandemic World 2 days ago About Author: DSNews Subscribe May 16, 2014 535 Views Related Articles Demand Propels Home Prices Upward 2 days ago Home / Featured / DS News Webcast: Friday 5/16/2014last_img read more

CFPB Director Fields Questions from House Committee

first_img The Best Markets For Residential Property Investors 2 days ago June 19, 2014 1,523 Views Sign up for DS News Daily  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / CFPB Director Fields Questions from House Committee in Daily Dose, Featured, Government, Headlines, News A week after appearing before the Senate Banking Committee, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray traveled back up the hill again to review the bureau’s semi-annual report and take questions from the House Financial Services Committee.At the hearing, committee members asked Cordray to address a number of issues surrounding the embattled agency, including accountability concerns and allegations of discrimination.Right from the start, the director went on the defensive with committee chairman Rep. Jeb Hensarling (R-Texas), who opened the hearing with remarks on what he called “disturbing developments” within the bureau.”Properly designed, the CFPB is capable of great good on behalf of consumers,” Hensarling said. “It is also capable of great harm.”Hensarling then questioned Cordray about the cost of renovating its headquarters, which is now at an estimated $185 million. The new building plans include a four-story glass staircase, granite fountains, sunken gardens, and more.While critics, including Senate Banking Committee member Tom Coburn (R-Oklahoma) have described the design plans as “opulent,” Cordray dismissed the language used as overblown, insisting that “every halfway functioning shopping mall in America” has the same features.After some back and forth—in which Hensarling asserted again that CFPB is “essentially unaccountable to the people”—Cordray heatedly told the congressman to check out the building for himself: “Come see the building. It’s a dump. You want to come see it?”Also of interest to the group of lawmakers was CFPB’s plan to establish a National Mortgage Database in partnership with the Federal Housing Finance Agency (FHFA). The bureau’s efforts to gather information to build that database prompted comparisons to the National Security Agency.Cordray rebuffed, clarifying that the agency’s information comes as an “off-the-shelf” product purchased from credit reporting agencies and scrubbed of certain information, including Social Security numbers, addresses, and any other identifying pieces.That answer didn’t satisfy Rep. Spencer Bachus (R-Alabama).”You may intend to scrub this information, but someone else, once they see it, may not,” the congressman said. “The American people are rightly concerned about the protection of their personally identifiable information.””I’m part of the American people,” Cordray countered. “I’m very concerned about it too.”Finally, hours ahead of another whistleblower hearing on alleged discrimination and retaliation within the bureau, the director responded to claims of his own involvement, including an allegation that he told senior enforcement attorney to “back down” from a complaint about hostility in the agency’s work environment.While Cordray didn’t deny the phone call in which the alleged incident took place, he said he was trying to push for a resolution that would allow all parties to move forward.”I simply wanted to have Ms. Martin reach a productive resolution of her complaint, which we did do so within a matter of a couple of weeks,” he said. “That later was reopened, and now we’ve resolved it again. I want her to have a good position at the bureau where she can do good work for consumers.” CFPB House Financial Services Committee Politics Richard Cordray 2014-06-19 Tory Barringer Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Home Sales Continue Growth Streak in May Next: Mortgage Rates Remain Steady After Fed Meeting Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Tagged with: CFPB House Financial Services Committee Politics Richard Cordray CFPB Director Fields Questions from House Committee Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

Cary, North Carolina Named ‘Nicest’ Housing Market; Milwaukee Designated as ‘Naughtiest’

first_imgHome / Featured / Cary, North Carolina Named ‘Nicest’ Housing Market; Milwaukee Designated as ‘Naughtiest’ Cary, North Carolina Named ‘Nicest’ Housing Market; Milwaukee Designated as ‘Naughtiest’  Print This Post The Best Markets For Residential Property Investors 2 days ago Subscribe With Christmas just one week away, RealtyTrac has released a list of the nicest and naughtiest U.S. housing markets based on a number of factors, including foreclosure rate, crime ratings, unemployment rate, school scores, housing affordability, and sex offenders per capita.RealtyTrac found the “nicest” housing market in the U.S. to be Cary, North Carolina, and the “naughtiest” to be Milwaukee, Wisconsin, based on those metrics.Cary was chosen as the nicest housing market based on the city’s low unemployment by county rate (4.40 percent), sex offender per capita rate (0.021 percent, or an average of 2.12 sex offenders for every 10,000 people), low foreclosure inventory (0.17 percent, or 17 foreclosures for every 1,000 housing units), total crime index (20.1 percent, for a crime rating of A), average elementary school score for 2013 (1.0979) and home affordability, or the percentage of median income to buy median-priced homes (21.38 percent).In all, there were 55 cities with a population of 100,000 or more that were designated as nice by RealtyTrac. All 55 were below the national average in the categories of unemployment, sex offenders, and foreclosures, and above the national average for elementary school scores. The unemployment average for the 55 cities was 4.6 percent, well below the national rate of 5.8 percent; the cities had a combined foreclosure rate of 24 for every 1,000 housing units and four sex offenders for every 10,000 people. The combined school score for the nice cities was twice the national average.All 55 nice cities had a crime rating of B or above, and 20 of them had a crime rating of A, according to RealtyTrac. The combined crime rate of the 55 nice cities was about one-third of the national average.Six of the top 10 nice housing markets were located in Texas. After Cary, North Carolina, the top 10 is as follows: second, Fairfax, Virginia; third, Pearland, Texas; fourth, Irvine, California; fifth, Frisco, Texas; sixth, Sugar Land, Texas; seventh, Richardson, Texas; eight, Katy, Texas; ninth, College Station, Texas; 10th, Fremont, California.In contrast, RealtyTrac designated 20 housing markets as “naughty” based on the same factors. Naughty cities all had unemployment, sex offender, and foreclosure inventory rates higher than the national average. School scores in naughty cities were below the national average, and all 20 cities had a crime rating of C or below.Combined, the 20 naughty cities had school scores nearly half the national average; crime rates nearly twice the national average; an average unemployment rate of 7.8 percent, two full percentage points higher than the national average; an average of 128 foreclosures for every 1,000 housing units; and an average of 27 sex offenders for every 10,000 people.The “naughtiest” housing market in the U.S. belonged to Milwaukee, Wisconsin. Milwaukee had a sex offender per capita rate of 0.289 percent, an unemployment by county rate of 6.18 percent, a 1.13 percent foreclosure rate, a 0.12 average elementary school score, a crime grade of D, and a housing affordability rate of 22.18 percent, RealtyTrac reported.After Milwaukee, RealtyTrac’s top 10 naughty list is as follows: second, Detroit Michigan; third, Stockton, California; fourth, Philadelphia, Pennsylvania; fifth, Fresno, California; sixth, Sacramento, California; seventh, Rockford, Illinois; eighth, Springfield, Massachusetts; ninth, Hartford, Connecticut; and 10th, Paterson, New Jersey. Related Articles in Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea 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 agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: DLS Executives Discuss Challenges Facing Servicing Industry on Internet Radio Show Next: Senators Ask FHFA to Revisit FHLBank Membership Requirements Tagged with: foreclosure rate Housing Market RealtyTrac Unemployment Rate Sign up for DS News Daily Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Demand Propels Home Prices Upward 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. foreclosure rate Housing Market RealtyTrac Unemployment Rate 2014-12-18 Brian Honea December 18, 2014 949 Views last_img read more

Consumer Sentiment Index Reaches Highest Level Since ’07 in December Reading

first_img Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Consumer sentiment gained another five points in an early December measure, putting confidence levels at a near eight-year high.The Thomson Reuters/University of Michigan survey of consumer sentiment came in at a preliminary index reading of 93.8 for December, up from November’s final reading of 88.8. December’s report beat economists’ forecasts by more than four points and puts the index at its highest level since January 2007.Increases in the latest measure were broad-based. The gauge measuring consumer expectations jumped 6.2 points to hit 86.1, also the highest since January 2007, while the measure of consumer economic sentiment was up three points to 105.7, the highest since February 2007.While the month’s final index—due December 23—could see an adjustment, the latest reading is a positive sign in the middle of the holiday shopping season.In a statement, survey director Richard Curtin noted that expected wage gains are at their highest level since 2008, and consumer attitudes toward buying are the most favorable they’ve been in several decades.”Obviously, lower gasoline prices, well received employment reports, and a more optimistic view on the direction of the economy are helping drive consumer mood higher,” said Chris Christopher, director of U.S. consumer economics for IHS Global Insight, in a note.Christopher also gave some of the credit to lawmakers, who in the past few years have stood in the way of growth over debates like 2012’s fiscal cliff and last year’s government shutdown. This year, they’re on track to avoid another shutdown with a last-minute deal.”The budget deal passing is another big plus for consumer mood since continued political bickering and finger pointing is a downer,” he said. December 15, 2014 1,124 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Tagged with: Consumer Confidence Consumer Sentiment Consumer Spending Politics Thompson Reuters Servicers Navigate the Post-Pandemic World 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 ago Home / Daily Dose / Consumer Sentiment Index Reaches Highest Level Since ’07 in December Readingcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Consumer Sentiment Index Reaches Highest Level Since ’07 in December Reading  Print This Post Previous: Michigan Senate Passes Foreclosure Bill Aimed At Eliminating Blight Next: Florida Man Sentenced to Federal Prison Time for Fraud Demand Propels Home Prices Upward 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 Servicers Navigate the Post-Pandemic World 2 days ago Consumer Confidence Consumer Sentiment Consumer Spending Politics Thompson Reuters 2014-12-15 Tory Barringer in Daily Dose, Featured, Market Studies, News About Author: Tory Barringer Subscribelast_img read more

Fed Says Economic Conditions Are Approaching the Point of Being Ready for Rate Hike

first_img Previous: Fed OIG to Conduct Security Audit on Personal Consumer Data Collected by CFPB Next: Watchdog Is Examining Borrower Population of Foreclosure Settlement at Congress’ Request Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Share Save The minutes from the July 28-29, 2015, Federal Open Market Committee (FOMC) meeting released Wednesday confirmed that the economy is still unprepared for a hike in the federal funds rate, but the increase still might be coming.In the Committee members’ discussion on economic conditions and monetary policy,  most participants “judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point,” according to the FOMC minutes.At the July 28-29 FOMC meeting, Fed officials determined that economic activity is expanding moderately, the housing sector has shown additional improvement, and job gains have been solid with declining unemployment, but the federal funds rate will remain the same at a target range of 0 to 1/4 percent.The Committee determined that labor market indicators found that underutilization of labor resources have diminished slightly, and growth in household spending has been moderate, while the housing sector showed some improvement. However, business fixed investment and net export remained soft. More importantly, inflation is still running below the Committee’s objective of 2 percent, reflecting earlier drops in energy prices and falling prices of non-energy imports. Looking ahead, the Committee still expects a moderate pace of GDP growth, with continuing job gains and lower energy prices supporting household spending.In terms of housing, the committee found that recent data on housing starts and permits as well as the higher levels of sales and prices are signs of continued recovery in the market, according to the minutes.In addition, looser lending standards for residential mortgages evidenced in the most recent SLOOS will further progression in the housing sector. However, a couple of committee members said they “did not expect this sector to be a major contributor to economic growth over the remainder of the year.””The Committee concluded that, although it had seen further progress, the economic conditions warranting an increase in the target range for the federal funds rate had not yet been met,” the minutes noted. “Members generally agreed that additional information on the outlook would be necessary before deciding to implement an increase in the target range.”One member, however, indicated a readiness to take that step at this meeting but was willing to wait for additional data to confirm a judgment to raise the target range.“If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate target, thereby beginning to normalize the stance of monetary policy,” said Janet Yellen, Chair of the Board of Governors Federal Reserve System at the July FOMC meeting. FOMC chair Janet Yellen revealed at a mid-July House Financial Services Committee hearing that rates would be raised upon improving economic conditions at no particular time.“At our meeting that ended today, the Committee concluded that these conditions have not yet been achieved. It remains the case that the Committee will determine the timing of the initial increase in the federal funds rate on a meeting-by-meeting basis, depending on its assessment of incoming economic information and its implications for the economic outlook.”However, Yellen did allude to the rate increase possibly occurring before the end of the year in a Senate Banking Committee hearing also held in mid-July .”If the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate target, thereby beginning to normalize the stance of monetary policy,” Yellen said. “Indeed, most participants in June projected that an increase in the federal funds target range would likely become appropriate before year-end. But let me emphasize again that these are projections based on the anticipated path of the economy, not statements of intent to raise the rates at any particular time.”The committee has three more meetings this year in September, October, and December to still decide if and when rates will be raised.Click here to view the Minutes of the Federal Open Market Committee July 28-29, 2015 meeting.  The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Xhevrije West Sign up for DS News Daily Fed Says Economic Conditions Are Approaching the Point of Being Ready for Rate Hike Federal Funds Target Rate Federal Open Market Committee Federal Reserve 2015-08-19 Brian Honeacenter_img The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Federal Funds Target Rate Federal Open Market Committee Federal Reserve Demand Propels Home Prices Upward 2 days ago August 19, 2015 974 Views Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Fed Says Economic Conditions Are Approaching the Point of Being Ready for Rate Hike Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

The Week Ahead: Fed Talking Money

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago This Weeks Schedule:MBA Mortgage Applications, Wednesday 7 a.m. ESTConstruction Spending Report, Wednesday 3:00 p.m. GMTFreddie Mac Weekly Mortgage Survey, Thursday 10 a.m. ESTEmployment Situation, Friday 8:30 a.m. EST The Week Ahead: Fed Talking Money Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Foreclosure, News Related Articles Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Week Ahead 2017-07-02 Brianna Gilpin Demand Propels Home Prices Upward 2 days ago Previous: Firm Closes Multi-Million Dollar Deal Next: They Don’t Spend Like They Used to The Best Markets For Residential Property Investors 2 days ago About Author: Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Federal Reserve Board announced report will be published five days in advanced, giving members of Congress and the public time to review the report before Chair Yellen’s testimony.Traditionally, the report on the U.S. economy and central bank policy has been released at the same time as the testimony from the Fed Chief. However, the Fed believes an advanced release would be beneficial for both the public and Congress before Yellen’s appearance.The Fed this year increased the frequency of its interest rate increases. It also recently announced detailed plans for reducing its holdings of securities accumulated during the financial crisis, an issue of particular interest among lawmakers.The July 2017 Monetary Policy Report will be released to the Congress at 11 a.m. EDT on Friday, July 7.Yellen is scheduled to testify before the House Financial Services Committee on Wednesday, July 12. Yellen’s opening statement will be released at 8:30 a.m. EDT. 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] Tagged with: Week Ahead The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Week Ahead: Fed Talking Money July 2, 2017 1,202 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

PHH Moves Forward With Updated Servicing Standards

first_imgHome / Daily Dose / PHH Moves Forward With Updated Servicing Standards Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily January 3, 2018 1,506 Views In a statement released Wednesday, PHH said they will implement new servicing standards as part of a settlement with a multi-state group of state attorneys general, as well as following a “testing and reporting process to ensure compliance with the Servicing Standards for a period of three years.”The $45 million settlement was reached between PHH and the Multi-State Mortgage Committee, a group consisting of state attorneys general from every state except New Hampshire, as well as mortgage regulators from 45 different states.PHH’s statement read that they “ … have agreed to resolve concerns raised by the MMC arising from its servicing examination conducted in 2010 and believe that settling this matter is in the best interest of PHH and its constituents. Our decision to resolve this legacy matter under the terms of the settlement agreement and consent orders is not an admission of liability or that we violated any applicable laws, regulations or rules governing the conduct and operation of our Servicing business during the relevant time frame.”PHH also said that, while they would adhere to the mandated servicing standards, but that they largely already line up with PHH’s own current internal servicing standards. “We have made and will continue to make the necessary enhancements in our operations to ensure we remain compliant and continue to serve our customers in a fair and appropriate manner.”In a Wednesday press release, New York Attorney General Eric T. Schneiderman said, “The foreclosure crisis continues to devastate communities across New York. We have zero tolerance for the types of practices that helped create the crisis—and will hold mortgage companies to account.”The complaint by the attorneys general states that, during the period between January 1, 2009, and December 31, 2012, PHH “threatened foreclosure and conveyed conflicting messages to certain borrowers engaged in loss mitigation.” PHH is also accused of charging unauthorized fees for their services. The settlement does not address any conduct occurring in 2013 or later.Of the $45 million settlement, $30.4 million will go to affected borrowers, $8.8 million will go to state mortgage regulators, $5 million will go to states that took lead on investigating and working out the settlement, and $1 million will go toward claims administration.Borrowers who lost their homes due to foreclosure during the indicated time period will be eligible for a minimum payment of $840. Those who were foreclosed upon, but did not lose their home, will receive a minimum payment of $285. PHH Moves Forward With Updated Servicing Standards  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Average Credit Scores for Potential Homebuyers Dip Next: Rental Property Management: Beware of Fraud Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, Journal, News center_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Default Servicing Foreclosure Housing Crisis mortgage servicing Multi-State Mortgage Committee PHH Corp. PHH settlement Settlement Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Default Servicing Foreclosure Housing Crisis mortgage servicing Multi-State Mortgage Committee PHH Corp. PHH settlement Settlement 2018-01-03 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton Subscribelast_img read more

The Best Places to Live, Depending on Your Profession

first_imgHome / Daily Dose / The Best Places to Live, Depending on Your Profession  Print This Post About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Journal, Market Studies, News Affordability best metros RENTCafe worst metros 2018-06-26 David Wharton Previous: Fannie Mae Roundtable Explores LGBT Fair Housing Protections Next: Foreclosure Trends on the Horizon Servicers Navigate the Post-Pandemic World 2 days ago Share Save 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] Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Places to Live, Depending on Your Profession June 26, 2018 2,984 Views Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Affordability best metros RENTCafe worst metros Subscribe The Best Markets For Residential Property Investors 2 days ago Choosing a career path and a place to call home are two of the biggest decisions facing anyone as they grow into adulthood. While there are countless factors to be considered on both fronts, a new report explores why it might make more sense to consider both questions as extensions of each other. After all, it’s not just about where you want to live—it’s about finding a hometown that meshes well with your chosen career.With that in mind, RENTCafe set out to determine the best (and worst) metros for a variety of career fields, working from data provided by the Bureau of Labor Statistics. After determining the average net income for each of the professions they were examining, RENTCafe then subtracted the average annual cost of living (based on MIT data) and saw how much money was left over after those expenses (which MIT calculates to include the minimum cost of food, health insurance, housing, transportation and other living expenses, plus income taxes).The San Jose-Sunnyvale-Santa Clara, California, metro is an ideal home base for workers in the fields of management, legal, computer & mathematical, and architecture & engineering, all of which RENTCafe calculate will be left with more than $50k left over even after paying for living expenses. As RENTCafe points out, this is by no means a cheap market, but these career fields can weather that higher cost of living thanks to higher average annual salaries for that profession in that region. In fact, RENTCafe found that those in management would have an average of more than $87k still left over after living expenses in the San Jose metro. For comparison’s sake, the worst metro for managers is Jackson, Mississippi, where they’d have an average of $36k left over after living expenses.For some professions, however, even the best-case scenario is still not particularly good news. The Las Vegas-Henderson-Paradise, Nevada, metro is the best location for Food Preparation and Serving workers, but “best” doesn’t always mean “good.” After covering living expenses in Vegas, those workers would be left with $500 for the year. That’s pretty dire, but it’s still a far cry from the impossibility of trying to sustain that career field in the Washington-Arlington-Alexandria, D.C-Virginia metro, where food prep workers will be left more than $11,000 in the hole after covering living expenses.Hartford-West Hartford-East Hartford, Connecticut, proves to be the best metro for 12 out of the 21 professions examined by RENTCafe, with all of the following careers left with an average of more than $11k after living expenses: Business and Financial Operations; Computer and Mathematical; Life, Physical, and Social Science; Community and Social Services; Education, Training, and Library; Arts, Design, Entertainment, Sports, and Media; Protective Service; Office and Administrative Support; Installation, Maintenance, and Repair; and Production.On the other end of the spectrum, both Deltona, Florida and Urban Honolulu prove to be bad choices for many different career paths. Of the 21 careers examined by RENTCafe, 11 of them would be left with no money at all after paying living expenses in either of those metros. North Port, Florida and San Diego also prove to be unaffordable for nearly half of the professions in question.To peruse all the RENTCafe data—once you’re finished shopping for a home in Connecticut—click here. Related Articles Demand Propels Home Prices Upward 2 days agolast_img read more

Improving REO through Discussion

first_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 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]  Print This Post Home / Daily Dose / Improving REO through Discussion Subscribe The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: David Wharton in Daily Dose, Featured, Journal, News, REO The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Tagged with: Five Star Conference FORCE FORCE Power Hour FORCE Rally FSC 2018 REO REO agentscenter_img Five Star Conference FORCE FORCE Power Hour FORCE Rally FSC 2018 REO REO agents 2018-09-16 David Wharton Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Improving REO through Discussion Previous: Challenges and Opportunities in Single-Family Rentals Next: Paladin Advisory Services Adds New Loan Quality Expert Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago On Sunday, September 16, the nation’s qualified residential agents and brokers assembled at the Hyatt Regency in Dallas, Texas, for this year’s FORCE Rally, one of the year’s most anticipated and exclusive events in REO.The FORCE Rally was hosted by the Five Star FORCE—the Federation of REO Certified Experts, a 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.Now an ongoing tradition at the annual Five Star Conference, the FORCE Rally comprised two parts: the FORCE Power Hour, an hour-long networking session; and the FORCE Rally proper, consisting of several short presentations and panels featuring subject-matter experts from throughout the industry.“Exclusive access to the Power Hour Networking Session and FORCE Rally is one of the most exciting benefits of being a part of the FORCE network,” said Annie Collier, Executive Director, Five Star FORCE. “In one afternoon, members not only heard from top professionals in the mortgage industry, they also got the chance to engage with them actively.”“I especially look forward to the FORCE Rally every year for the networking and updates from the exceptional industry professionals,” said Nancy Braun, Broker/Owner, Showcase Realty and the FORCE Advisory Council Chairperson. “The FORCE members are the best in class and have had years of experience. I am so proud of our members and their accomplishments.”Running from 2–3 p.m. CDT on Sunday, the Power Hour Networking Session invited REO professionals to grow their business by meeting face-to-face with potential clients and experts from the asset management, investment, servicing, and government communities. Participating organizations included the FORCE Advisory Council, Alacrity Services, Auction.com, AZP Capital, Computershare, Constructive Renovations, DRA Asset Management, Fannie Mae, Fay Servicing, Freddie Mac, Global Strategic Business Process Solutions, Green River Capital, Home Depot Renovation Services, Inspired Capital Group, KAC Advisory, Prominent Capital, Real Wealth Network, RES.NET, Spurs Capital, Streamline Funding, Total Property Solutions, USRES, and Xome.“Following the Power Hour networking session with asset managers, our discussion will turn to the outlook of the housing market, what asset management companies look for in selecting their brokers, ways to diversify your business model to increase your revenue sources, and leading technologies in the industry,” Braun said.FORCE Executive Director Annie Collier opened things up with welcome remarks, followed by a State of the FORCE presentation from event moderator Nancy Braun, Broker/Owner, Showcase Realty.Next up was the “Winning Coveted Contracts: Asset Disposition Panel,” moderated by Braun and featuring the insights of Margie Fagan, VP of Asset Management, Property Solutions, Computershare; Garrett Mays, Director of Valuation and Vendor Management, USRES; Rachel Siegel, AVP of REO, Xome; Elizabeth Taylor, Eviction Manager, Green River Capital; and Eric Will, Senior Director of REO Operations, Freddie Mac.In “Preparing for the Future: REO Market Update,” Larry White, Catalyst and Creator of Opportunities, Xome, took a look at what’s new in the REO market and what experts are predicting for the future of REO.“How to Grow Your Business: Advisory Council Panel” featured the FORCE Advisory Council discussing how to expand and increase the profitability of your business. Once again moderated by Braun, this panel featured Luis Guzman, Broker/Owner, Continental Realtors; Jim Hastings, Broker/Owner, Hastings Brokerage; Hugh Morrow, Broker/Owner, RE/MAX Preferred of Alabama; Steve Pagano, Broker/Owner, Pagano Properties; and Regina Shaw, Broker, Intero Real Estate.In the final panel of the day, “Straight From the Source: Fannie Mae Update,” Jason Thiele, Director of Real Estate Sales and Marketing, Fannie Mae, updated the FORCE membership about loss mitigation efforts, preferred disposition strategies, and upcoming projects at the GSE.The 2018 FORCE Rally was sponsored by Alacrity Services, Auction.com, Global Strategic Business Process Solutions, Home Depot Renovation Services, Phogo, and Total Property Solutions. Share Save September 16, 2018 2,519 Views Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Hurricane Barry’s $300M Cost to Insurers

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Related Articles in Daily Dose, Featured, Loss Mitigation, News Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Sign up for DS News Daily Previous: Fannie Mae Launches 13th Re-Performing Loan Sale Next: Homeowners Bracing for Climate Change Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Hurricane Barry’s $300M Cost to Insurerscenter_img Tagged with: flooding Hurricane Insurance Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Hurricane Barry’s $300M Cost to Insurers Share Save Demand Propels Home Prices Upward 2 days ago flooding Hurricane Insurance 2019-08-13 Seth Welborn Total losses from Hurricane Barry were expected to exceed $600 million, Insurance Journal reports. Additionally, public and private insurers paid out nearly $300 million according to the Aon Global Catastrophe Recap report.In a report earlier this year, CoreLogic reported that insured residential and commercial flood loss covered by the NFIP is estimated to be between $100 million and $200 million after Hurricane Barry, but 20% of residential flood loss is uninsured. CoreLogic states that uninsured flood loss is estimated to be approximately $100 million, while approximately 500,000 total residential and commercial property policies are in force through the NFIP.Wind losses, not covered by the NFIP, are expected to total between $300 million and $500 million. Insured flood and wind losses, excluding National Flood Insurance Program (NFIP) losses, are between $300 million and $600 million.Craig Poulton, CEO of private flood insurer Poulton Associates, told Insurance Business that continuing to build in flood risk zones is “insane.”“As all of these named storms have proven in one way or another, we simply on a local level and a national level are not responding to the new reality,” said Poulton on Insurance Business. “We need to recognize that we have to stop putting lives and values in the way of storms, and in the way of flooding in particular.”Lawmakers are taking some steps to update the NFIP. For example, Senator Cindy Hyde-Smith is proposing an update to the Program which aims to address the multiple extensions the NFIP has undergone with a long-term extension plan.In her letter to Senate Banking Committee Chairman Michael Crapo and Ranking Member Sherrod Brown, Hyde-Smith puts forth several options to address affordability issues among low and middle-income policy holders and debt issues within the NFIP. Recently, the House Financial Services Committee unanimously approved two bills to reform and reauthorize the NFIP. H.R. 3111 would bring improvements to the NFIP appeals process, accountability, and transparency of claims process in the aftermath of Hurricane Sandy, and H.R. 3167 would reauthorize the NFIP for five years and includes numerous reforms to increase affordability, mapping and modernization. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago August 13, 2019 974 Views last_img read more