Congressmen Agree White House Has Not Made GSE Reform a Priority

first_img in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post July 17, 2015 1,111 Views Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Tagged with: Bipartisan Policy Center Congressman John Delaney Congressman Randy Neugebauer GSE Reform Housing Finance Reform Congressmen Agree White House Has Not Made GSE Reform a Priority About Author: Brian Honea Related Articles Home / Daily Dose / Congressmen Agree White House Has Not Made GSE Reform a Priority Previous: Analysts Estimate Monetary and Paperwork Costs Imposed by Dodd-Frank Next: DS News Webcast: Monday 7/20/2015 Bipartisan Policy Center Congressman John Delaney Congressman Randy Neugebauer GSE Reform Housing Finance Reform 2015-07-17 Brian Honea Randy NeugebauerJohn DelaneyAppearing as panelists in a discussion at the Bipartisan Policy Center this week titled “Housing Finance Reform: A Status Report,” U.S. Congressmen Randy Neugebauer (R-Texas) and John Delaney (D-Maryland) both agreed a major reason why such reform has not happened is because the White House has not made it a top priority.The size of the government’s footprint in housing has been a much-debated topic in the last year as the Federal Housing Finance Agency (FHFA)’s conservatorship of Fannie Mae and Freddie Mac will reach its seventh anniversary in September. While many lawmakers on both sides agree that GSE reform is necessary, the debatable issue is what, if anything, should replace them.Legislation has been introduced, including a bill co-sponsored by Senators Bob Corker (R-Tennessee) and Mark Warner (D-Virginia) in 2013 to eliminate Fannie Mae and Freddie Mac and replace them with a private insurance company system with a government backstop. The bill, known as the Housing Finance Reform and Taxpayer Protection Act of 2014 (S.1217), passed in the Senate Banking Committee by a vote of 13 to 9 in May 2014 but has made little progress.”We’ve been getting mixed signals from this White House,” Neugebauer said during the panel discussion. This is a big lift, if you start down this road, whether it’s a Senate bill or a House bill, just to get those out of those chambers and into a conference, you have to get some help from the White House to make that happen. I’ve had the conversation with the current Treasury secretary and the former Treasury secretary, and everybody talks about, ‘Yeah, we need to do this,’ but when you say, ‘Is there a commitment from the White House to participate in this process,’ I don’t think they’ve sent a positive signal.”Fannie Mae and Freddie Mac required a $187 billion bailout from taxpayers in 2008 to stay afloat; at that time, they were taken into conservatorship by FHFA. The FHFA released the results of a stress test in late April indicating that the GSE could possibly need another bailout of up to $157 billion in the event of certain adverse economic conditions.Discussion moderator Nick Timiraos, National Economic Correspondent with The Wall Street Journal, compared the lack of action on GSE reform to a famous New Yorker cartoon in which an executive was on the phone saying, “No, Thursday’s out. How about never? Will never work for you?”Delaney said he believes the current system is “unsustainable,” but has been sustainable lately because of macrodynamics, notably strong housing recovery.”I don’t think the White House has made this a top priority,” Delaney said of GSE reform. “I hope that’s changing. When you think about what happened in the Senate, where they did make a pretty decent run at a bipartisan proposal, I think a lot of the Democratic Senators working on that turned around and expected to see the White House behind them and there was no one there.”This is a big lift to fix this, and you have to get it right. It involves a lot of thought, and there’s been a big ideological divide about the role of the government with, respectfully, many of my Republican colleagues thinking there is no role for government, and many of my Democratic colleagues thinking government should have an even bigger footprint. I think both of those are flawed at some level, and there is a role for smarter government to be involved in housing, but in a more disciplined way.”Neugebauer said he doesn’t believe the government should be able to “manipulate a particular industry, particularly one that is so important to American families. I still believe that we can accomplish something, but it will take everybody committed to coming up with some solutions.”To watch a video of the panel discussion, click here. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Gen X Anxious and Fearful for Financial Future

first_img  Print This Post The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Subscribe About Author: Staff Writer FICO conducted an online survey of about 1,000 US consumers over the age of 17 in February and March 2017. Data was weighted by age and region to reflect U.S. Census data. Home / Daily Dose / Gen X Anxious and Fearful for Financial Future Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Tagged with: FICO Financial Future Generation X Millennials Related Articles Previous: Detroit Tops Single-Family Investments List Next: GSEs: Where Should the Money Go? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Gen X Anxious and Fearful for Financial Future The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago FICO Financial Future Generation X Millennials 2017-06-06 Staff Writer Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 6, 2017 1,709 Views Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News Over a third of consumers aged 28-52, known as Generation X, have a bleak outlook for their financial future. Gen X-ers were hit hard between 2007-2010, losing nearly half of their wealth and leaving them with crippling debt.FICO’s latest consumer trend research has uncovered that 38 percent of Gen X-ers believe that we are headed for another financial crisis in the next 10 years, an outlook higher by 5 percent than that of other generations. This is coupled with 41 percent of Gen X-ers also feeling the need to save more for the future. “Generation X are clearly concerned about what the future might hold,” said Tim Van Tassel, vice president of FICO’s credit lifecycle business line. “The survey confirms genuine anxiety about debt and saving levels in the aftermath of the 2008 recession. The ‘sandwich generation’ is often financially overwhelmed by the competing obligations of having to care for both kids and aging parents. This obstacle to saving means they have a real concern about a potential retirement income shortfall.”In a stark contrast to 45 percent of older millenials, only 32 percent of Generation X reported feeling confident they would reach long-term financial goals. Gen X fared especially poorly after taking on debt to purchase real estate just before the market plummeted in 2007. “For this reason, many are paying down their mortgages to reduce payments and guard against possible foreclosure in a downturn,” said Van Tassel. The survey also revealed that 32 percent of Gen-Xers carry an ongoing balance on their credit card with only 18 percent expressing interest in getting assistance to help manage debt. Generation X has the highest dissatisfaction rate for their primary bank at 12 percent, citing negative experiences and fees as top factors. “There appears to be growing apathy around debt, with numerous people in the survey mentioning a drop in real income levels along with high credit card debt as the drivers of this resignation,” Van Tassel added. “It’s important that lenders look at how they engage Generation X across the credit lifecycle. For financial institutions, the task is to try and banish apathy.”Van Tassel explains that in order to reach this market, the approach will have to change. “Simple customer engagement strategies focused on cross-selling additional products aren’t going to be effective with these consumers. They want intelligent, personalized recommendations that will help them meaningfully improve their financial security.” Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Cyprexx Expands InvisiBoard Offerings

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago in Featured, Journal, News, Technology Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: THL Completes Majority Acquisition of Ten-X Next: Fannie Mae: Consumer Confidence Increasing? The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Cyprexx Expands InvisiBoard Offerings Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Sign up for DS News Daily Brandon, Florida based Cyprexx Services, LLC has launched new, more cost effective sheet sizes of its InvisiBoard polycarbonate in addition to providing select InvisiBoard products on Amazon. According to Cyprexx, InvisiBoard helps prevent neighborhood blight by eliminating plywood boarding. However in the past, polycarbonate has been an expensive alternative.Ed Mullen, CEO of Cyprexx Services said, “The current sizes are expensive due to waste and poor utilization. Our analysis shows that 86 percent of installations are best serviced with a special manufactured sheet size. We are excited to announce that we have this size produced and now available at select locations. With the new 38” X 76” sheet size, vendors will effectively be able to get coverage for two 38” x 38” openings (which is the installation size 54% of the time).” Cyprexx announced it will offer an introductory, promotional price for the new 38” X 76” InvisiBoard sheet at $76.46 per sheet.In addition, Cyprexx Services, LLC is launching on Amazon two new all-inclusive combination packages for InvisiBoard Installation. The packages are specifically designed for use on a Flush Window frame or a Recessed window frame and are being launched on Amazon for an introductory, promotional price of $53.99 and $57.99. Also available on Amazon are the Installation kits for InvisiBoard, with Bulk order options to significantly reduce overall costs. Cyprexx is also offering, as a direct shipment only, a 38” x 38” InvisiBoard, ¼” polycarbonate material sheet for $39.99. Demand Propels Home Prices Upward 2 days ago Blight Clearboarding Cyprexx default InvisBoard mortgage real estate REO 2017-10-09 rachelwilliams Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / Cyprexx Expands InvisiBoard Offerings Tagged with: Blight Clearboarding Cyprexx default InvisBoard mortgage real estate REO The Best Markets For Residential Property Investors 2 days ago About Author: Rachel Williams  Print This Post October 9, 2017 6,810 Views Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] last_img read more

HUD’s Carson: ‘We Know How to End Homelessness’

first_imgHome / Daily Dose / HUD’s Carson: ‘We Know How to End Homelessness’ The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save The Department of Housing and Urban Development on Thursday announced an award of $2 billion in support of thousands of local housing and service programs across the U.S. This year’s installment of the annual HUD Continuum of Care grants will assist more than 7,300 local programs working to house and serve individuals and families experiencing homelessness in their communities.According to a HUD media statement, “HUD’s Continuum of Care grants provide critically needed support to local programs on the front lines of serving individuals and families experiencing homelessness.”HUD Secretary Ben Carson said, “HUD stands with our local partners who are working each and every day to house and serve our most vulnerable neighbors. We know how to end homelessness and it starts with embracing a housing-first approach that relies upon proven strategies that offer permanent housing solutions to those who may otherwise be living in our shelters and on our streets.”Secretary Carson added that working to house the homeless is both the “human thing to do” and “good public policy.”Matthew Doherty, Executive Director of the U.S. Interagency Council on Homelessness, said, “Continuums of Care are critical leaders in the work to end homelessness nationwide. When communities marshal these—and other local, state, private, and philanthropic resources—behind the strongest housing-first practices, we see important progress in our collective goal to end homelessness in America.”According to HUD, “HUD Continuum of Care grant funding supports a broad array of interventions designed to assist individuals and families experiencing homelessness, particularly those living in places not meant for habitation, located in sheltering programs, or at imminent risk of becoming homeless.”California topped the list of state and local programs being funded by the grants, with 900 programs being funded for a total of $382,566,777. Behind California comes New York (579 programs and $200 million in funding), Illinois (418 programs and $109 million in funding), Pennsylvania (519 programs and $102 million in funding), and Ohio (316 programs and $95 million in funding). You can see the full details of the projects awarded funding by clicking here.HUD noted that application deadlines for programs located in Puerto Rico and the U.S. Virgin Islands had been extended until February 16, 2018, due to the hurricane recovery efforts still underway in those regions. Those grants will be allocated separately from today’s announced $2 billion in funding and are due to be announced sometime in mid-March.According to HUD estimates released in December 2017, 553,742 people experience homelessness in America on any given night. Servicers Navigate the Post-Pandemic World 2 days ago Ben Carson Continuum of Care Program Department of Housing and Urban Development Grants Homelessness HUD 2018-01-11 David Wharton in Daily Dose, Featured, Government, Journal, News Tagged with: Ben Carson Continuum of Care Program Department of Housing and Urban Development Grants Homelessness HUD HUD’s Carson: ‘We Know How to End Homelessness’ Governmental Measures Target Expanded Access to Affordable Housing 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 Servicers Navigate the Post-Pandemic World 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 Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago  Print This Post Previous: Can Homebuyers Get Better Government Loan Modifications? Next: Disaster Playbook The Best Markets For Residential Property Investors 2 days ago January 11, 2018 7,815 Views About Author: David Wharton Subscribelast_img read more

The Housing Market Heats Up

first_imgSign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The Housing Market Heats Up  Print This Post Related Articles Demand Propels Home Prices Upward 2 days ago Home Inventory Home Prices Housing Inventory inventory shortages Realtor.com 2018-05-04 Krista Franks Brock Share Save Tagged with: Home Inventory Home Prices Housing Inventory inventory shortages Realtor.com in Daily Dose, Featured, Journal, Market Studies, News 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. Things always warm up in the spring, but experts are detecting record-breaking heat this year—at least in the housing market. Inventories are low, homes are flying off the market, and prices continue to rise, according to Realtor.com’s Monthly Housing Trends Report for April. The report deemed this “the hottest spring housing market on record,” and a cool-down does not appear imminent. “The dynamics of increased competition and buyer frustration are unlikely to change this spring,” according to analysts at Realtor.com. “In fact, the direction of the trend is pointing to a growing mismatch between the pool of prospective buyers and existing inventory.” The hottest market in the nation is Midland, Texas, according to Realtor.com, which compared the 300 largest metro areas. Midland was followed by Boston-Cambridge-Newton, Massachusetts-New Hampshire; San Francisco-Oakland-Hayward, California; Columbus, Ohio; and Vallejo-Fairfield, California. Four of the 10 hottest housing markets are located in California.Nationally, the median list price was up 8 percent over the year in April and 3 percent since March. The national median listing price in April was $290,000. Of the 300 largest metros in the nation, 180 posted yearly price gains in April, leading Realtor.com to say, “the damage has been done and the majority of markets are unlikely to see improvements any time soon.”Homes continued to sell with increasing speed in April, with a 5 percent drop in the median age of inventory from last year and a 9 percent drop from the previous month. The median age of housing inventory in April was just 59 days. On the other hand, the market experienced a hint of relief from the pervasive heat in April’s inventory count. While inventory declined 6 percent over the year in April, Realtor.com noted this was a slower pace than previously charted. Month-over-month, the market actually posted an increase in inventory, up 5 percent from March. At the metro level, fewer markets are experiencing declining inventory, and fewer markets posted double-digit price gains in April. The number of markets that have the “deadly combination” of double-digit price gains and declining inventory dropped from 115 in April 2017 to 62 in April 2018. “Local dynamics show the heat is being spread out more broadly than before, lighting the spark in more areas but stopping the fire in others,” according to Realtor.com. Homes sold fastest in San Jose-Sunnyvale-Santa Clara, California, where the median age of inventory is just 19 days. The median age of inventory was shorter than 30 days in San Francisco-Oakland-Hayward California; Seattle-Tacoma-Bellevue, Washington; Salt Lake City, Utah; and Ogden-Clearfield, Utah. The oldest inventory is in Bangor, Maine, where the median age of inventory is 159.5 days. Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / The Housing Market Heats Up Subscribe About Author: Krista Franks Brock Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago May 4, 2018 13,250 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Industry Icon Robert Klein Passes Away at 65 Next: In a Tough Buyer’s Market, Ownership is Still Rising Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

What Country Is HUD Partnering With on Housing?

first_img Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Pamela Hughes Patenaude, the Deputy Secretary of U.S. Housing and Urban Development (HUD), signed a Memorandum of Cooperation with Yitzhak Cohen, the Deputy Finance Minister of Israel. The stated goal of the memo is to increase collaboration between the U.S. and the State of Israel on a myriad of issues involving housing, community development, and mortgage finance.Both parties signed the memo in Jerusalem during a meeting of the U.S.-Israeli Joint Economic Development Group (JEDG). Steven Mnuchin, the U.S. Treasury Secretary, heads the U.S. delegation. According to HUD’s website, the memo establishes an open dialogue and exchange of information and research involving low- and moderate-income housing, mortgage and housing finance, management of public housing, and community development.Deputy Secretary Patenaude’s trip to Israel and the signing of the memo are the culmination of much planning stemming from last year’s JEDG meeting, which occurred in Washington, D.C. Patenaude will participate in a panel discussion on affordable housing with Zeey Bielski, the Head of the Israel Housing Administration, as well as take part in a roundtable hosted by the Urban Clinic at Hebrew University. Afterward she will tour an affordable housing development as well as another development built to minimize damage from earthquakes. Neither site are specified in HUD’s press release. “This cooperative agreement will serve as another building block in strengthening the close ties between our nations on a number of common issues that impact our citizens,” said Patenaude.  “We plan to share research and best practices for addressing the affordable housing challenges facing our nations. I am convinced that working together, we will be able to learn from each other to improve the lives of those we serve.”“The Memorandum of Cooperation on housing is an opportunity to deepen the close ties between Israel and the United States on an important issue that preoccupies both countries,” said Cohen. “Israel and the United States are facing very different housing challenges, but we can learn from these differences and cooperate on sharing acquired knowledge for the benefit of the next generations.”According to the memorandum itself, the pledge “is an expression of intent only and does not obligate funds, personnel, services, or other resources of either Participant, nor does it create any binding obligations under international or domestic law.” Nevertheless, the memo reads, the “Participants may contract out the research work partially or entirely to outside entities and/or researchers with the consent of both Participants.” Tagged with: Affordable Housing Housing Market HUD HUD Deputy Secretary Mortgage Industry Pamela Hughs Patenaude About Author: Staff Writer The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Equifax Joins Forces with Freddie Mac Next: FormFree & Freddie Mac Announce Collaboration What Country Is HUD Partnering With on Housing? Demand Propels Home Prices Upward 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Home / Daily Dose / What Country Is HUD Partnering With on Housing? Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Subscribe October 22, 2018 1,616 Views Affordable Housing Housing Market HUD HUD Deputy Secretary Mortgage Industry Pamela Hughs Patenaude 2018-10-22 Staff Writerlast_img read more

Policymakers ‘Learned Lessons’ from Great Recession in Stimulus Package

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Home / Daily Dose / Policymakers ‘Learned Lessons’ from Great Recession in Stimulus Package in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The U.S. Senate approved a $2 trillion COVID-19 relief package on Wednesday and is set for House vote on Friday as the federal government looks to combat the impact of the virus. The bill was approved in the Senate unanimously—96-0—and Senate Majority Leader Mitch McConnell (R-Kentucky) called the vote a “proud moment for the United States.” Cameron Beane, Head of Pricing and Secondary Markets for TD Bank, said the bill will help create “helicopter money” for millions of homeowners across the U.S. “More than 3 million workers lost their jobs last week, which is staggering. The package includes stimulus payments that will put cash in the hands of many of these workers to help make ends meet and to encourage spending to support the economy,” Beane said.” This type of disbursement is often referred to as ‘helicopter money’ and it is designed to boost consumer confidence and spending as well as mitigate loan losses and the decline of broader measures of health in the U.S. economy.” One of the largest portions of the bill is that Americans who earn $75,000 in adjusted gross income would get direct payments of $1,200 each and married couples would get $2,400 each. Single Americans making more than $99,000 will be phased out of the payment plan and $198,000 for couples without children. Tendayi Kapfidze, Chief Economist, Lending Tree, said the payments to Americans will be kept to help people meeting financial obligations, especially the more than 3 million who filed for unemployment. “There is a big risk to our servicers from borrowers not sending in payments as they would still need to meet their obligations to investors,” Kapfidze said. “This is especially acute for non-bank lenders who do not have sufficient reserves in place. It was disappointing that the bill did not directly address this risk.Beane added that the stimulus gives almost $500 million worth of “unleveraged” funding power to the U.S Department of the Treasury and Federal Reserve to support businesses. “This will have a measurable impact on keeping afloat many of the entities that support the housing market—loan servicing companies, payment processing entities,” he said. “They are the backbone of the housing market infrastructure, and they play a critical role in making homeownership possible.”Holden Lewis, Home and Mortgage Expert at NerdWallet, said the federal government is making a “huge effort to prevent foreclosures brought on by COVID-19. “The $2 trillion rescue package adds $600 a week in unemployment compensation, which will help people who’ve been laid off pay their bills,” Lewis said. “On the other hand, a one-time check of up to $1,200 will not go a long way toward keeping people current on their mortgage payments.”He added people with mortgages backed by the GSEs or the Federal Housing Agency (FHA) have been given foreclosure protection by the suspension of foreclosures and evictions. “These moves show that policymakers learned lessons from the housing crash when they were slow to offer forbearances and modifications,” Lewis said. “This time, they’re going to offer forbearances right away, and Fannie and Freddie won’t even require documentation of COVID-related hardships. Later, we’ll see how supportive they are to people who need mortgage modifications.” 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 Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Coronavirus 2020-03-26 Mike Albanese Tagged with: Coronavirus Policymakers ‘Learned Lessons’ from Great Recession in Stimulus Package March 26, 2020 1,005 Views Subscribe Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Mike Albanese Previous: Low-End Rentals Driving Inventory Increases Next: CFPB Issues Support for Financial Institutions Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. last_img read more

Creating Equality in Housing

first_img in Daily Dose, Featured, News Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Home / Daily Dose / Creating Equality in Housing June 23, 2020 1,212 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Creating Equality in Housing Servicers Navigate the Post-Pandemic World 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Related Articles Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago 2020-06-23 Mike Albanese Previous: COVID-19’s Impact on Home Values Next: Foreclosures Down for Fannie Mae, Freddie Mac About Author: Mike Albanese 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 With the lingering issue of racial inequality, especially among African Americans, the National Association of Realtors (NAR) proposed a five-point plan below to drive up the number of African American homeowners and help narrow the ongoing homeownership rate gap between white and African Americans.Below are the steps the NAR looks to take:Increase the supply of new homes by building more: Due to lag in viable purchase options and competition driving up home prices, some potential first- time buyers have more difficulty gaining a foothold in the market.Focus on opportunity zones to build more homes: These zones are strongly supported by the NAR as a way to invest in the revitalization of economically distressed areas.Make down payment assistance easier to secure: Unlike some others, fueled by historical gaps in assessing and accumulating wealth, African- Americans experience more difficulty securing substantial financial assistance from family members, enhancing the importance of greater access to federal down.Reinforce the Federal Housing Administration’s loan program: First- time buyers and minority households haven depended in these loans for financing. Mortgage insurance premiums and monthly mortgage payments could be lowered by shirting federal dollars to strengthen this program.Expansion of alternative scoring models to include rent and utility payments: Doing so would add more positive payments histories to better reflect financial responsibility and perhaps abet homeownership opportunities for minority and first-time buyers.Strategies like this seemingly assume added importance considering that according to data from a report from the Urban Institute, titled “How Economic Crises and Sudden  Disasters Increase Racial Disparities in Homeownership,”  the homeownership gap between people of color and white people often worsens in light of a recession because people of color are disproportionately harmed.“A closer look at 285 metropolitan statistical areas suggests that rapid employment growth combined with increased supply constraints from zoning and other regulations contributed to this disproportionate price growth for low-price homes,” according to Urban’s report.Unaddressed, these same supply constraints will “restrict the ability of low-income households to prosper as we emerge from the crisis and exacerbate income inequality.”While African-Americans are subjected to disparities unrelated to economic cycles, these cycles still seem to exacerbate these differences. This could stem in part from black and Hispanic households that had greater vulnerability as the cyclical downtown became a reality, according to the instituteAdded Redfin Chief Economist Daryl Fairweather: to buy homes even when prices were at their lowest point, meaning many missed out on opportunities to build wealth and put down roots in their communities through homeownership.””The growing racial homeownership gap has widened the wealth gap, as home equity remains one of the most significant wealth-building tools,” Fairweather continued. Now, with home prices higher and more rigid lending standards than prior to the housing crash of 2008, minorities find it difficult as ever to break into the housing market, which is likely to contribute to growing economic inequality in the U.S., he said.Meantime, the recent uptick in mortgage applications to purchase a new home is butting up against a lack of supply, according to the NAR.May housing starts slightly rebounded in May from the month prior, yet this marks two straight months of depressed levels, down from a year ago by more than 20%, stemming from the economic lockdown. Over perhaps the next three years, a large bump in new home construction is needed, the NAR stated.Prior to the COVID-19 pandemic, the housing shortage—due to a string of years of underwhelming production of new homes—was about 5-6 million. Today, that shortage has gained momentum. This will culminate in escalating homes prices, further crimping the ability of first-time buyers to gain a foothold in the market and ratcheting up the importance of new home construction, said the NAR. Subscribelast_img read more

DS5: Keeping Families ‘Together and In Their Homes’

first_img Related Articles in Daily Dose, Featured, News, Webcasts Sign up for DS News Daily  Print This Post The Best Markets For Residential Property Investors 2 days ago Share Save 2020-11-09 Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Subscribe Previous: The Week Ahead: COVID-19 as ‘A Catalyst for Change’ Next: HUD Secretary Ben Carson Tests Positive for COVID-19 The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Data Provider Black Knight to Acquire Top of Mind 2 days ago November 9, 2020 1,673 Views The latest episode of DS5: Inside the Industry features an interview with Vanessa Lindow, co-CEO/ co-President at Bayview Loan Servicing.Lindow discusses the way servicers have responded to COVID-19. She touches on the ways in which the industry has utilized technology and digital media to continue to keep “families together and in their homes.”Watch Lindow’s interview and learn the week’s other top stories, below. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / DS5: Keeping Families ‘Together and In Their Homes’ DS5: Keeping Families ‘Together and In Their Homes’ About Author: Christina Hughes Babblast_img read more

Public meeting to discuss border policing concerns

first_img Concerns about the level of garda presence along the Donegal – Derry border will be highlighted at a public meeting tonight.Fianna Fail are hosting the meeting in the Columban Hall in Newtowncunningham.Cllr Paul Canning, one of the meeting’s organisers says it’s important that they gather information from the Public about to their concerns, with the aim of improving garda numbers and ensuring better protection in the border area………..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/10/pcann1pm.mp3[/podcast] Pinterest WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Google+ By News Highland – October 15, 2012 Twitter News Facebook Twitter Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeycenter_img RELATED ARTICLESMORE FROM AUTHOR WhatsApp Public meeting to discuss border policing concerns Facebook Previous articleHousing commencements down but planning applications up in DonegalNext articleSoccer – Harps End Season With Win News Highland Pinterest Three factors driving Donegal housing market – Robinson LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Guidelines for reopening of hospitality sector published Calls for maternity restrictions to be lifted at LUH last_img read more