Month: May 2021

first_img March 4, 2014 718 Views Demand Propels Home Prices Upward 2 days ago Tagged with: Black Knight Financial Services HARP HELOC Previous: LRES Welcomes New Senior Vice President Next: 2015 HUD Budget Proposal Reveals New Fee, Program About Author: Colin Robins Related Articles in Daily Dose, Featured, Headlines, Market Studies, News Share Save  Print This Post 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. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img The Data and Analytics Division of Black Knight Financial Services released its Mortgage Monitor Report, which looked at data as of the end of January, 2014. The report found that Home Affordable Refinance Program (HARP) eligible loans have shrunk throughout the year.The report noted, “a general decline in the overall ‘refinancible’ population of both traditional and HARP-eligible borrowers with associated loan origination volumes dropping in both categories as well.”Overall originations were down nearly 60 percent year-over-year, according to the report.HARP-eligible loans in January, 2013 were 2.3 million, dropping to a January, 2014 figure of 709,000.The report cites that the population of those available to refinance through HARP has fallen by 13 percent over the last two months. The shrinking population of HARP-eligible loans may cause problems for special servicers who recently reported significant earnings that were aided by the government program.Herb Blecher, SVP of Black Knight Financial Services’ Data & Analytics division, said, “[A] good deal of this decline can be attributed to the fact that a majority of those who could refinance at historically low rates in recent years already have, and we see a similar dynamic in terms of HARP-eligible loans.”Blecher continues, “From a geographic perspective, outside of Florida and Nevada, we see the Midwestern states of Illinois, Michigan, Missouri and Ohio have among the highest percentage of HARP eligibility.”Illinois (2.5 percent), Michigan (2.3 percent), Missouri (2.5 percent), and Ohio (2.7 percent) lead the Midwestern states, compared to states with low HARP eligibility such as North Dakota (0 percent), South Dakota (.1 percent), and Montana (.3 percent).Black Knight’s Mortgage Monitor Report also provided data on home equity line of credit (HELOC) lending. 2013 marked the first year that HELOC lending increased since 2006. The report is cautious to note that total home equity volumes were still down more than 90 percent from that time.Delinquency rates in home equity origination fell to just .1 percent, aided in large part to what the report calls “super-prime” borrowers, “with average credit scores for first- and second-lien HELOCs at 786 and 779, respectively.”At the same time, HELOCs originated prior to 2004 are seeing increased rates of new problem loans, up 27 percent year-over-year as the loans hit the amortizing stage.The report notes that the total U.S. loan delinquency rate is 6.27 percent, a decrease of 2.96 percent month-over-month. The total U.S. foreclosure pre-sale inventory rate is 2.35 percent, down 5.32 percent month-over-month. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / HARP-Eligible Loans Decline in 2013 HARP-Eligible Loans Decline in 2013 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Black Knight Financial Services HARP HELOC 2014-03-04 Colin Robins Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Subscribelast_img read more

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily First-Time Buyer Mortgage Share and Risk Indices Edge Up in June The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The first-time buyer share in April, May, and June was launched to new highs, supported by improvements in the labor market, riskier mortgage lending, and continuing low mortgage rates.The American Enterprise Institute (AEI) International Center on Housing Risk recently released a report, finding that first-time buyers account for 58.8 percent of primary owner-occupied home purchase mortgages with a government guarantee, up from 57.2 percent the prior June, according to the Agency First-Time Buyer Mortgage Share Index (FBMSI).The Combined FBMSI, which measures the share of first-time buyers for both government-guaranteed and private-sector mortgages reached an estimated 52.9 percent, up from 51.6 percent the prior June, according to the report.In addition, AEI determined that the Agency First-Time Buyer Mortgage Risk Index (FBMRI) stood at a series record of 15.83 percent, and increase of half of a percentage point from the average over the prior three months and up 1.1 percentage points from a year earlier. The Agency FBMRI is 6.75 percentage points higher than the mortgage risk index for repeat homebuyers, a gap that continues to widen.“The housing lobby, led by the NAR and the Urban Institute, has successfully pushed for looser lending standards for first-time buyers,” said Edward Pinto, codirector of the AEI’s International Center on Housing Risk. “Rather than increasing accessibility, the loosening of lending standards during a strong seller’s market is moving the goalpost further away for many lower-income and minority renters desiring to become homeowners.”According to AEI, The first-time buyer mortgage share and mortgage risk indices are key housing market indicators based on monthly data for nearly all government-guaranteed home purchase loans, which greatly reduces the risk of sample error.The Federal Housing Administration (FHA) first-time homebuyer percentage reached a share at or above 80 percent, while Freddie Mac is at the low-end with a share of about 40 percent, AEI noted. Fannie Mae’s share has consistently hovered above Freddie Mac’s at 46.7 percent in June.“The rising first-time buyer share and the strong increase in first-time buyer sales volume shown by our broad measure help explain the tightening inventory conditions in the long-running seller’s market,” AEI said. “The unsold inventory of existing single-family homes stood at 5.2 months in May, down from 5.6 months a year earlier; for new single-family homes, the unsold inventory was 4.5 months in May, down from 5.1 months a year earlier.”The number of primary owner-occupied purchase mortgages going to first-time buyers in June totaled an estimated 128,000, up 20 percent from the 107,000 mortgages in June 2014, according to AEI. This loan count increase surpassed the 15.5 percent rise in total agency loan purchase volume during the same period. Almost 55 percent of first-time buyer loans were high risk (MRI above 12 percent) in June, up from 51 percent a year earlier.“We paint an accurate picture of changes in the first-time buyer share by using a nearly complete census of agency loans,” said Stephen Oliner, codirector of AEI’s International Center on Housing Risk.  “In contrast, the monthly changes in the first-time buyer share from the NAR survey are often just noise.”Click here to view the American Enterprise Institute International Center on Housing Risk full report.  The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Home / Daily Dose / First-Time Buyer Mortgage Share and Risk Indices Edge Up in June Subscribe Servicers Navigate the Post-Pandemic World 2 days ago About Author: Xhevrije West 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. Demand Propels Home Prices Upward 2 days agocenter_img July 21, 2015 1,242 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News Related Articles Previous: CFPB Sets Final TRID Rule Effective Date Next: RoundPoint’s Rating Outlook Adjusted From ‘Stable’ to ‘Negative’ Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Tagged with: American Enterprise Institute Federal Housing Administration First-Time Buyer International Center on Housing Risk Mortgage Share Governmental Measures Target Expanded Access to Affordable Housing 2 days ago American Enterprise Institute Federal Housing Administration First-Time Buyer International Center on Housing Risk Mortgage Share 2015-07-21 xhevrijewestlast_img read more

first_imgHome / Featured / Cultural and Hip: The Top 10 Trendy, Affordable Housing Markets The Best Markets For Residential Property Investors 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago March 8, 2016 1,335 Views Demand Propels Home Prices Upward 2 days ago About Author: Xhevrije West Demand Propels Home Prices Upward 2 days ago Share Save  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Affordable Housing Markets Realtor.com 2016-03-08 Brian Honea There is a new type of housing market emerging in the U.S., that fits the cultural, hipster needs of today’s young homeowners.Realtor.com identified 10 markets out of 500 largest cities in the country that would appeal to next-generation homebuyers’ fun, young, culture-rich urban experience with affordability for the long haul.Realtor.com tossed out the cities, such as San Francisco, where home prices are far from reasonable and also took into consideration the number of foodie hot spots, bike shops, cultural outlets, and what cities  25- to 34-year-olds migrated to from 2013 to 2014.Realtor.com’s Top 10 Trendy and Affordable Housing Markets in the U.S.:1.Salt Lake City, Utah (Median home price: $355,000)Sure, you know Silicon Valley, but do you know Silicon Slopes? In Salt Lake City, affordable real estate, an educated workforce, and a decent transit system have lured big tech companies such as Adobe and Electronic Arts, as well as a slew of startups. And along with them, armies of young techies eager to work hard and play harder.2. Richmond, Virginia (Median home price: $170,000)A classic city with rich history that was once plagued by crime, Richmond has now rebranded itself as a creative center for young folk. Artists, writers, bloggers, crafters, and punk garage bands have all convened on this Southern metropolis.3. Asheville, North Carolina (Median home price: $350,000)No, you’re not dreaming—that suspiciously hairy “nun” roaming the streets on a giant bike is one of the more commonplace daily sights you’ll experience in this funky place. In fact, this hippie Southern enclave with a proudly weird sense of humor has not only one, butthree biking nuns—known as Sister Bad Habit, Sister Hairy Mary, and Sister Sauerkraut. In case you were wondering.4. Pittsburgh, Pennsylvania (Median home price: $149,900)The Steel City is having a huge cultural renaissance lately. Everywhere you turn, there’s a new round of one-of-a-kind shops, art galleries, breweries, and jazz clubs. It’s also a rising center for major film production (serving as New York City and Gotham City stand-ins for, respectively, “The Avengers” and “The Dark Knight Rises”), contributing to the city’s economy as well as its pop culture cachet.5. Minneapolis, Minnesota (Median home price: $251,000)Winters may be fierce here, but don’t expect its residents to cower inside. Minneapolis is ranked the third most bike-friendly city in the country by Bicycling magazine. The snowy city embraces urban cycling culture with dedicated bike lanes, racks, and paved trails. With a solid 4 percent of commuters biking to work (eight times the national average), biking isn’t just a hobby here—it’s a lifestyle.6. Ann Arbor, Michigan (Median home price: $349,450)As home to the University of Michigan, Ann Arbor owes much of its coolness to the university’s famously fun-loving crowd, and the culture that has sprung up to keep them amused. Pop-up diners, indie movie theaters, yoga studios, artisanal cafes—Ann Arbor’s got everything most trendy souls desire. Beware Trump and Cruz supporters: This is one of the most liberal cities in the country.7. Cincinnati, Ohio (Median home price: $138,000)Massive street-painting parties, evening glow-art-decorating bashes followed by epic group bicycle rides—this is Cincinnati? Yep, the third-largest city in Ohio now wholeheartedly embraces its groovy side. Under a recent initiative, young artists and apprentices under a local nonprofit have completed more than 100 murals in downtown inspired by the city’s history and businesses. And lots of them are awesome.8. St. Louis, Missouri (Median home price: $145,000)Between Blueberry Hill (a restaurant/music venue), where the legendary Chuck Berry walked the stage more than 200 times, and the Bluesweek Festival every spring, St. Louisans are spoiled with awesome tunage. Don’t even tell them if you’re going to New Orleans for Mardi Gras—everyone here knows the best Mardi Gras is right in town.9. New Orleans, Louisiana (Median home price: $245,000)More than a decade after Katrina devastated New Orleans, it has rebounded to attract a new generation with its beauty, laid-back lifestyle, and unique charm. Of course, its social scene is best known for a certain debauched festival in February; however, in a city that’s filled with artists, musicians, and fortune tellers, there is always a lot going on. And music is woven into the fabric of virtually all aspects of NOLA’s culture.10. Charleston, South Carolina (Median home price: $325,200)Charleston may hold tight to its centuries-old history, but it’s shaken off its stodginess with a wave of energy in its art and music scene. This year, a brand-new music festival, Dirty South by Southeast, debuts in town. Smaller in scale than Austin’s South by Southwest festival, Dirty South will “show off the grungier side of Charleston’s music scene with metal, rockabilly and alt-rock bands at local dive bars,” reports Charleston Scene. in Featured, Market Studies, Newscenter_img Previous: Mortgage Contracting Services Acquires EPIC Real Estate Solutions Next: Credit Plus Tests Trended Credit Data to Meet Fannie Mae Requirements Tagged with: Affordable Housing Markets Realtor.com Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Cultural and Hip: The Top 10 Trendy, Affordable Housing Markets Related Articles Servicers Navigate the Post-Pandemic World 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post HAMP Loan Modifications Ocwen 2016-09-16 Kendall Baer Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Ocwen Financial Corporation recently announced that according to the recently released U.S. Department of the Treasury Making Home Affordable Performance Program (MHA) Report, Ocwen is the leader in helping struggling homeowners stay in their homes through the Home Affordable Modification Program (HAMP), according to a recent report from Ocwen.Ocwen states that the MHA Report, which provides results through the second quarter of 2016, includes activity related to the new Streamline HAMP modifications program. The company says that according to the MHA Report, during the second quarter of 2016, Streamline HAMP modifications made up a significant proportion of overall new HAMP modification activity. Additionally, they report that preliminary data suggests that Streamline HAMP is offering many borrowers who have not previously participated in a MHA program a new opportunity for a modification.In the second quarter of 2016, Ocwen reports that the Streamline HAMP program helped 7,811 families receive a loan modification, and Ocwen was responsible for 4,112 or 53 percent of the total Streamline HAMP modifications completed industrywide. Since the inception of the Streamlined HAMP modification program earlier this year, Ocwen reports that they have helped approximately 19,000 homeowners in need initiate a trail plan under the program.The MHA Report also continues to show that Ocwen is a leader in all HAMP programs, according to the company. They state that to date the company has granted a total of 324,939 loan modifications through the HAMP program representing 20 percent of all completed HAMP modifications. Ocwen has also completed 52 percent more HAMP modifications than the next best servicer. In addition, the company has also granted 48 percent of all HAMP Principal Reduction Modifications completed industrywide.”Ocwen is pleased to have assisted thousands of families throughout the country in finding a responsible loan modification through the HAMP programs,” commented Ron Faris, President and CEO of Ocwen. “HAMP remains an important option for homeowners being impacted by financial hardship. Ocwen is proud of its commitment to HAMP and our ability to help borrowers remain in their homes through responsible modification programs – a goal that will remain a priority for our company.”Since January 1, 2008, Ocwen cites that they have granted over 680,000 loan modifications, and the company continues to lead the industry in offering innovative mortgage solutions.Additionally, the company’s report says that the second quarter MHA Report also states Ocwen received three-star ratings across all compliance categories, which is the highest rated category, and was the best or second best mortgage servicer in all secondary rating criteria.“Ocwen is a new company with a management team and Board of Directors that is committed to a culture of compliance and service excellence,” added Mr. Faris. “We have made and continue to make significant investments across our risk and compliance infrastructure. We are also continuing to improve our service levels as evidenced by the superior borrower assistance results revealed in the recent MHA Report.” The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily September 16, 2016 2,106 Views Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Headlines Subscribe Home / Daily Dose / MHA Report Shows Ocwen Leader in HAMP Programscenter_img About Author: Kendall Baer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: HAMP Loan Modifications Ocwen Share Save Previous: KBRA Reflects on Financial Institutions Before Q3 Earnings Release Next: Income Growth Outpacing Home Prices In Poorer Cities Servicers Navigate the Post-Pandemic World 2 days ago MHA Report Shows Ocwen Leader in HAMP Programs Related Articleslast_img read more

first_img September 10, 2017 1,018 Views Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago FinTech 2017-09-10 Brianna Gilpin in Daily Dose, Featured, News, Technology The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Week Ahead: Examining the Fintech Landscape  Print This Post Subscribe Other Events in the Week Ahead: Bright MLS Housing Update, Tuesday, 10:00 a.m. EDTFreddie Mac Weekly Mortgage Survey, Thursday, 10 a.m. EDT.Bank Reserve Settlement, WednesdayFed Balance Sheet, Thursday 4:30 p.m. EDTConsumer Sentiment, Friday 10:00 a.m. EDT Governmental Measures Target Expanded Access to Affordable Housing 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] Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Freddie Mac: Unaffordability Everywhere Next: Assurant Committed to Harvey Relief Efforts Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Tuesday, the Committee on Banking, Housing, and Urban Affairs will meet in an open session for a hearing titled “Examining the Fintech Landscape.”Governor Lael Brainard, Member of the U.S. Federal Reserve’s Board of Governors, said in a speech at the Conference on Financial Innovation that Fintech puts financial change at consumers’ fingertips and gives consumers and small business more real-time control over their finances, but the potential risks and the regulatory environment are subjects that need to be looked into further.“We should be attentive to the potential social benefits of these new technologies, prepared to make the necessary regulatory adjustments if their safety and integrity are proven and their potential benefits found to be in the public interest, and vigilant to ensure risks are well understood and managed,” Brainard said.To see the live webcast, tune in at 10 a.m. EDT here. Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Examining the Fintech Landscape Demand Propels Home Prices Upward 2 days ago Tagged with: FinTech Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily About Author: Brianna Gilpin The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

first_img Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Best Markets For Residential Property Investors 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] Previous: Surviving and Thriving in a Low-Foreclosure REO Environment Next: The Challenges of the ‘Housing Burdened’ in Daily Dose, Featured, Investment, Journal, Market Studies, News June 11, 2018 2,535 Views Tagged with: Homebuyers Household Wealth rental investments Renters Single Family Rental Subscribe Homebuyers Household Wealth rental investments Renters Single Family Rental 2018-06-11 David Wharton Renters vs. Buyers—Who Creates More Wealth? Related Articles  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Home / Daily Dose / Renters vs. Buyers—Who Creates More Wealth? Data Provider Black Knight to Acquire Top of Mind 2 days ago While buying a home remains a long-term investment many Americans will make at some point in their lives, the factors to consider along that road are definitely challenging. Home prices are way up in many markets, inventory is limited, and many homebuyers report having to compromise when it comes time to shop for that dream home. Another factor to consider: renting might actually generate more wealth for potential buyers in the long run, according to a new report.The latest installment of the Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index shows that many metros around the nation are above their long-term pricing trends, suggesting that “significant price retractions” may be on the horizon for these markets. If that proves to be true, the BH&J Index suggests that existing renters would be financially better served by continuing to rent rather than purchasing a home, and investing the difference, a move the BH&J Index suggests would have “an increasingly better chance at creating wealth.”“On the heels of information concerning slowing housing starts, rising mortgage rates, decreased demand and unsustainable price increases, these numbers provide additional evidence that housing markets around the country are slowing, resulting in many to opt for renting,” said Ken Johnson, Ph.D., a real estate economist and one of the index’s creators in Florida Atlantic University’s College of Business.Of the 23 separate metro areas in the BH&J Index, many are “nearing the top of their current housing cycle, meaning they are above their long-term pricing trend.” Cities operating above their long-term pricing trends include Atlanta, Denver, Dallas, Honolulu, Houston, Kansas City, Los Angeles, Miami, Minneapolis, Pittsburgh, Portland, San Diego, San Francisco, Seattle, and St. Louis. On the other hand, cities operating below their long-term pricing trends include Boston, Chicago, Cincinnati, Cleveland, Detroit, Milwaukee, New York, and Philadelphia.Eli Beracha, Ph.D., co-creator of the index and associate professor in the Hollo School of Real Estate at FIU, said that rising home prices are a primary factor driving up the overall cost of homeownership, but they’re not the sole contributor.“The current scores driving the markets in the direction of renting and reinvesting appear to be the results of higher mortgage rates, increase in returns, on average, in the stock market, and the cost of ownership, which includes your mortgage payment, taxes, insurance, maintenance, etc.,” Beracha said. “All of these costs are rising faster than the cost of renting a comparable property. Therefore, renters who take the money they’re saving each month and reinvest it are going to build wealth faster than those who buy a home, on average.”Not that renting itself will be exactly cheap—a recent study by RENTCafe found that millennials are paying an average of $100k in rent by age 30. That certainly suggests there are plenty of opportunities for savvy investors targeting sectors such as single-family rental. (You can click here to read a recent breakdown of the best markets for single-family rental investment.)Of course, plenty of consumers are eager to get out of the rental market, regardless of how the current market will impact long-term wealth creation. What should those borrowers keep in mind when it comes time to finding a home?“Don’t be afraid to walk away from a deal in which you are not comfortable with the price,” Johnson said. “Never buy because you are afraid that you will not be able to afford to buy later. This was the attitude that many took in 2007, resulting in market collapse.”Produced by Florida Atlantic University and Florida International University faculty, the BH&J Index is released two months after the end of every quarter. You can view a brief video about the Index below. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: David Wharton 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 Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

first_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Ripple Effect of Foreclosures Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Ripple Effect of Foreclosures in Daily Dose, Featured, Foreclosure, News Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Previous: Guardian Residential Closes $11.5M Fund Next: The Changing Middle-Class Household Demographics 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  Print This Post A report by Zillow explains how the effects of the Great Recession were not just twofold but deeply profound—and also reveals how the crisis served to benefit those who bought foreclosed homes during that time. According to the report, nearly half (45.4 percent) of all homes foreclosed in the wake of the subprime mortgage crisis were valued in the lowest third of the U.S. housing market, contrasted with just 16.9 percent of homes valued in the top-third. Those left to reap the profits, then, were those not locked out of the market who could also afford to buy up these underwater homes. Not only did those Americans not foreclosed on see an overall increase on average in their wealth, but they were also presented with an incredible opportunity. Since the homes that foreclosed earliest saw the sharpest increase in their value, those who bought into the market quickest at that time stood to gain the most. The report revealed that throughout the recovery, such homes grew in value 1.6 times faster than the average U.S. home.The report said that nationwide previously foreclosed homes lost 42.6 percent of their value during the housing bust, but have since earned it all back and some. “Today, the median, previously foreclosed home is worth 0.1 percent more than it was during its pre-recession peak, a testament to the precipitous pace of home value growth over the past six years,” the report revealed. “Over the same time, the typical U.S. home value fell 25.9 percent – a much more moderate decline – and is worth 8.1 percent more today than it was before the recession.”Of course, the effects of these foreclosures are still felt today—both for those at the top and those at the bottom—with a total 7 percent rise in rentals for single-family homes since the recovery began. The boom and bubble preceding the bust saw many low-income Americans enter the housing market when credit was easy to obtain, and for several years those buying entry-level homes had reason to believe their fortunes were improving. After all, their home values were rising and with it their overall share of wealth. But these low-income homeowners were far more likely to have most, if not all, of their investments tied up in their mortgages—a fact that remains true of low-income homeowners today, the report indicated. Conversely, the wealthiest Americans had only about a quarter of their wealth on average tied up in their homes, something which protected them from dropping values. So when the bust occurred and home values tanked, entry-level homes foreclosed in much larger numbers. To read the full report, click here.   Share Save About Author: Staff Writer October 5, 2018 2,386 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Foreclosure Homes HOUSING Zillow The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Foreclosure Homes HOUSING Zillow 2018-10-05 Radhika Ojhalast_img read more

first_img 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Prices Rental SFR January 21, 2020 1,077 Views Home / Daily Dose / Low-End Rents Prop Up Single-Family Rent Growth Previous: Fannie Mae: ‘Resilient Economy Overcomes Risks to Drive Housing’ Next: Former Freddie Mac CEO on Limiting GSE Risk Exposure Demand Propels Home Prices Upward 2 days ago Prices Rental SFR 2020-01-21 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save in Daily Dose, Featured, Investment, News  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Sign up for DS News Daily About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Single-family rents prices increased 3.1% year-over-year, an increase propped up largely by low-end rentals, defined as properties with rent prices less than 75% of the regional median, according to CoreLogic’s latest Single-Family Rent Index (SFRI). Low-end rentals were up 3.6% year-over-year in October 2019.The increase in single-family rental prices were fueled by the low rental home inventory, but price growth has slowed since February 2016. High-end rental prices grew alongside low-end, up by 2.9% from October 2018.“Increases in low-end rent prices have outpaced those on the high end for more than five years as newly-formed households push up demand for entry-level rentals,” said Molly Boesel, Principal Economist at CoreLogic. “However, high-end rents gained momentum for the sixth consecutive month in October 2019, while low-end rates slowed for the first time in roughly five months–resulting in the narrowest gap in rent growth for these price tiers since 2014.”By region, Phoenix had the highest year-over-year increase in single-family rents in October 2019 at 6.8%. Following Phoenix, Seattle took the second-highest rent price growth in October 2019 with gains of 5.8% and 5.4%. Phoenix, alongside Seattle, had high year-over-year rent growth driven by annual employment growth of 2.6% and 2.9%.Phoenix and Seattle’s year-over-year rent growth was driven largely by annual employment growth of of 2.6% and 2.9%, respectively, larger than the national average of 1.4%.Whether buying a home or renting a home is more affordable often depends on the type of market. While buying is the more affordable option in just a little more than half of U.S. counties, it tends to be the less affordable option in more dense metro areas, according to ATTOM Data Solutions’ latest Rental Affordability report.Overall, buying is more affordable in 53% of the 855 counties ATTOM Data Solutions tracks.Acknowledging the current affordable housing crunch, Todd Teta, Chief Product Officer at ATTOM Data, said, “For sure, either buying or renting is a financial stretch or out of reach for individual wage earners throughout most of the country in the current climate. But with interest rates falling, owning a home can still be the more affordable option, even as prices keep rising.” Low-End Rents Prop Up Single-Family Rent Growth The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

first_img Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: credit housing market 2020 Mortgage Lenders Demand Propels Home Prices Upward 2 days ago Analysis by the Urban Institute says the COVID-19 health crisis is beginning to “constrict the mortgage credit box” similar to what happened during the period following the Great Recession from 2010 to 2013. “In the wake of the 2007–09 Great Recession, it was hard for people with less-than-perfect credit to secure a mortgage. This stood in stark contrast to the years leading up to the financial crisis when it was too easy to secure a mortgage,” the report said. However, in response to the Great Recession, restrictions and risks through regulations caused lenders to become wary of lending to borrowers with “anything less than pristine credit.” The report adds that for the past six years, Fannie Mae and Freddie, along with the Federal Housing Administration, have made strides in expanding the credit box to borrowers. Urban Institute states that as of March, people with credit of 720 and above are locking in mortgage rates that are as much as 78 basis points lower than borrowers with credit scores of 660 and below. “Particularly within the nonbank space, having a better credit score corresponds with a mortgage rate that is as much as 83 basis points lower than for a borrower with a weak credit score,” the report said. “These spreads between low and high credit scores are much wider than they were before the pandemic.”The most recent drop in mortgage rates benefits borrowers with higher credit scores. For purchase loans, borrowers with credit scores of 660 or below saw a 14 basis-point drop between November and March, while borrowers with scores of 720 or above experienced a drop of 30 basis points. Freddie Mac’s latest Primary Mortgage Market Survey found the average rate for a 30-year fixed-rate mortgage was at 3.31%. “Mortgage rates continue to hover near all-time lows for the third straight week. As a result, refinance activity remains high, but home purchase demand is weak due to economic tightening,” said Sam Khater, Freddie Mac’s Chief Economist.Khater continued, “While new monthly economic data are driving markets lower this week, they are a lagging indicator and should be priced in already. Real-time daily economic activity metrics suggest that the economy will likely not decline much further. Going forward, the key question is no longer the depth of the economic contraction, but the duration.” About Author: Mike Albanese The Best Markets For Residential Property Investors 2 days ago Previous: 2.9M Homeowners in Forbearance Plans Next: Addressing Nonbank Servicer Liquidity Needs The Best Markets For Residential Property Investors 2 days ago credit housing market 2020 Mortgage Lenders 2020-04-20 Mike Albanese Home / Daily Dose / Diminishing Access to Credit Possible Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Subscribe 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. Sign up for DS News Daily Diminishing Access to Credit Possible Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News April 20, 2020 870 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Share Savelast_img read more

first_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles in Daily Dose, Featured, Government, News 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 Previous: Best Practices in Forbearance Agreements Next: DS5: Former Freddie Mac CEO Discusses Market Stabilization  Print This Post Sign up for DS News Daily Senate Weighs Federal Housing Commissioner Nominee The U.S. Committee on Banking, Housing, and Urban Affairs held a nomination hearing on Dana T. Wade, who was nominated for the position of Federal Housing Commissioner. “As I look around this hearing room, I see the Senate continuing the people’s work but under very different circumstances,” Wade said during her opening statement. “If confirmed, I will commit to do everything I can as FHA Commissioner to help the country emerge from the COVID-19 pandemic healthier, stronger, and with a more prosperous economy.”Chair of the Senate Banking Committee, Senator Mike Crapo (R-Idaho), said in a pool report following the meeting that a vote could come soon, but no date was set. Wade said that she decided to join the public service in the midst of the Great Recession more than a decade ago, which gave her experience she can use today. “I learned that during times like these, it is important to make sure assistance quickly reaches those in need and that we maximize the effectiveness of every Federal dollar,” she said. Wade was nominated for the position of Federal Housing Commissioner by President Donald Trump in February. Wade was previously the acting Federal Housing Commissioner and Assistant Secretary for Housing from July 2017 to June 2018. She supervised more than 2,400 employees and implemented risk management and monitoring of the Federal Housing Agency’s $1.3 trillion portfolios.She also served as a Program Associate Director for General Government at the Office of Management and Budget from December 2018 to December 2019, where she led budget oversight for six Executive Branch agencies with a focus on financial services, including the Department of Housing and Urban Development (HUD). “Dana Wade is a spectacular individual who has been enormously valuable to President Trump and this Department,” said Dr. Benjamin Carson, Secretary of HUD. “We appreciate Brian Montgomery’s continued stable leadership and are elated with Dana’s nomination. We look forward to Dana’s very capable, guiding hand at FHA and urge the Senate to swiftly confirm her.”While many senators voiced support of Wade, some during the meeting—which was held virtually—questioned prior decisions made related to fair housing laws. U.S. Senator Ranking Member of the Banking Committee Sherrod Brown (D-Ohio) was most vocal about her time spent at the Office and Management and Budget, where the office reviewed and approved two rules that would undermine the Fair Housing Act, a rule the HUD’s analysis said would cost the federal government more money. In response to questions about previous time spent at the FHA, she said housing discrimination of any kind is “intolerable” and she would do everything she can to enforce fair housing laws. “That is my commitment,” she said.  Servicers Navigate the Post-Pandemic World 2 days ago Subscribecenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Mike Albanese Tagged with: federal housing commissioner HOUSING Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Senate Weighs Federal Housing Commissioner Nominee 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. Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago May 5, 2020 1,297 Views federal housing commissioner HOUSING 2020-05-05 Mike Albaneselast_img read more