Builders Remain in a Holding Pattern, Expect Improvement

first_img in Daily Dose, Featured, Headlines, Market Studies, News Builder Confidence Credit Conditions Current Sales Conditions Home Sales 2014-04-15 Tory Barringer April 15, 2014 586 Views Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Builder Confidence Credit Conditions Current Sales Conditions Home Sales The Best Markets For Residential Property Investors 2 days ago Previous: HUD and Dubuque, Iowa Settle Allegations of Discrimination Next: Recent Ellie Mae Outage Not a Cyber-Attack Data Provider Black Knight to Acquire Top of Mind 2 days ago Builder confidence stayed mostly flat in April, nudging up slightly from a downward revision to March’s findings.The National Association of Home Builders (NAHB) reported a one-point increase in its monthly Housing Market Index (HMI), a measure of builders’ confidence in the market for newly constructed single-family homes. March’s index was revised down to 46 from an originally reported 47.Registering 47 as of the latest release, the index has now spent three straight months below 50, the threshold between a market viewed largely as “good” and one viewed as “bad.”“Builder confidence has been in a holding pattern the past three months,” said Kevin Kelly, NAHB chairman. “Looking ahead, as the spring home buying season gets into full swing and demand increases, builders are expecting sales prospects to improve in the months ahead.”Of the three component indexes measuring housing conditions, the gauges for both current sales conditions and traffic of prospective buyers remained steady at 51 and 32, respectively. The measure for expected sales in the next six months climbed four points to 57, reflecting greater optimism among builders.“Job growth is proceeding at a solid pace, mortgage interest rates remain historically low and home prices are affordable,” said NAHB chief economist David Crowe. “While these factors point to a gradual improvement in housing demand, headwinds that are holding up a more robust recovery include ongoing tight credit conditions for home buyers and the fact that builders in many markets are facing a limited availability of lots and labor.”At the regional level, the Northeast was the only area to report increased confidence, posting an index of 36 compared to 30 in March. Sentiment was down in the Midwest and West and stayed flat in the South.Looking at the three-month moving average for each regional HMI, all regions saw declines in March, with only the West hovering above the 50 mark. Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img  Print This Post Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Builders Remain in a Holding Pattern, Expect Improvement Home / Daily Dose / Builders Remain in a Holding Pattern, Expect Improvement Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Private Sector Job Market Shows No Signs of Slowing

first_img  Print This Post January 7, 2016 1,166 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 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. Strong job growth in October and November was one of the main economic factors that led the Federal Reserve to raise rates in December. And according to ADP’s December 2015 National Employment Report, that job growth is not showing any signs of slowing down heading into 2016.ADP’s report, which is produced in collaboration with Moody’s Analytics and is derived from actual ADP payroll data, showed private sector job gains of 257,000 from November to December.“Strong job growth shows no signs of abating,” said Mark Zandi, chief economist of Moody’s Analytics, “The only industry shedding jobs is energy. If this pace of job growth is sustained, which seems likely, the economy will be back to full employment by mid-year. This is a significant achievement, given that the last time the economy was at full employment was nearly a decade ago.”December’s job gains were the largest total for any one month in 2015, said Ahu Yildirmaz, VP and head of the ADP Research Institute, who noted that “Overall, the average monthly employment growth was just under 200,000 for the year in contrast to almost 240,000 jobs per month in 2014. Weakness in the energy and manufacturing sectors was mostly responsible for the drop off.”The news of December’s private sector job gains bodes well for the overall economy, which made major strides in 2015—as indicated by the Fed’s action to close out the year. Fannie Mae reported on Thursday that consumer sentiment rose significantly to end 2015, with chief economist Doug Duncan stating that “Consumers ended the year on an improved note with regard to their income, job security, and overall economic outlook.”Duncan also noted that “Brightening economic prospects, if sustained, should stimulate demand for homeownership” provided upward pressure on rents and a low housing supply do not hamper affordability.Click here to view ADP’s complete December 2015 National Employment Report. Related Articles Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Previous: CFPB Seeks Public Comment on Home Mortgage Disclosure Act Data Points Next: DS News Webcast: Friday 1/8/2016 Governmental Measures Target Expanded Access to Affordable Housing 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 Demand Propels Home Prices Upward 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Private Sector Job Market Shows No Signs of Slowing Tagged with: ADP Employment Housing Market Jobs Report The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea Share Save ADP Employment Housing Market Jobs Report 2016-01-07 Brian Honea Private Sector Job Market Shows No Signs of Slowing Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

FHFA Vows to Keep Fighting HOA Super-Priority Liens

first_img Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago FHFA Vows to Keep Fighting HOA Super-Priority Liens in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 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. FHFA HOAs Home and Economic Recovery Act Super-Priority Liens 2016-05-10 Brian Honea About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago The Federal Housing Finance Agency (FHFA) has reaffirmed its support of authorized servicer reliance on the Housing and Economic Recovery Act (HERA) of 2008 in foreclosures involving homeowner associations (HOAs) and super-priority liens, saying it will “aggressively” fight any HOA that tries to extinguish a Fannie Mae or Freddie Mac lien through foreclosure.The super-priority lien issue has been a contentious one since it came to prominence following a decision by the Nevada State Supreme Court in September 2014 that allowed HOAs to use super-priority liens to foreclose on homes with delinquent HOA dues—without the permission of the mortgagee.The FHFA responded in December 2014 with a warning to HOAs that loans with super-priority liens attached would not push mortgages backed by Fannie Mae and Freddie Mac into the secondary position. In June 2015, a federal judge in the U.S. District Court for the District of Nevada ruled that HOAs could not foreclose non-judicially on GSE-owned mortgages using a super-priority lien.In August 2015, FHFA stated its support of authorized servicers of GSE loans that rely on the HERA to prevent HOAs from foreclosing on loans insured by Fannie Mae and Freddie Mac. The FHFA recently reiterated its position in support of the servicers.“As noted in the December 22, 2014 and April 21, 2015 statements on certain super-priority liens, the Federal Housing Finance Agency has an obligation to protect Fannie Mae’s and Freddie Mac’s property rights,” FHFA General Counsel Alfred Pollard said. “FHFA will aggressively do so by bringing or supporting actions to contest common ownership association (commonly known as HOAs) foreclosures that purport to extinguish Enterprise property interests in a manner that contravenes federal law. This statement confirms that FHFA supports the reliance on Title 12 United States Code Section 46170)(3) in litigation by authorized servicers of the Enterprises to preclude-the purported involuntary extinguishment of an Enterprise’s property interest by an HOA foreclosure sale.” Demand Propels Home Prices Upward 2 days ago Previous: More Distressed Borrowers are Keeping Their Homes Next: Mortgage Fraud? Not On Your Life, Quicken CEO Says  Print This Post Share Savecenter_img Demand Propels Home Prices Upward 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago May 10, 2016 1,958 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / FHFA Vows to Keep Fighting HOA Super-Priority Liens The Best Markets For Residential Property Investors 2 days ago Tagged with: FHFA HOAs Home and Economic Recovery Act Super-Priority Liens Sign up for DS News Daily Subscribelast_img read more

Confirmation of Sale Scrutiny in Kansas

first_img Confirmation of Sale Scrutiny in Kansas Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Related Articles Home / Daily Dose / Confirmation of Sale Scrutiny in Kansas Demand Propels Home Prices Upward 2 days ago Share Save  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Blair T. Gisi Blair T. Gisi joined the SouthLaw Firm in July 2012 and is an Associate Attorney for both the Litigation and Kansas Foreclosure Departments located in the Wichita, Kansas office. He is currently admitted to practice law in Kansas and the United States District Court for the District of Kansas. He obtained his B.A. in English from the University of Kansas in 2006. He obtained his law degree from University of St. Thomas in 2009. Blair’s practice focuses on judicial foreclosure and creditors’ rights litigation. Blair has successfully prosecuted contested foreclosures from motion practice, at trial, and the Kansas Court of Appeals. July 18, 2018 1,776 Views Sign up for DS News Daily 2018-07-18 Kristina Brewer Servicers Navigate the Post-Pandemic World 2 days ago Previous: Is Home Price Inequality a Good Thing? Next: And the Best Age to Become a Homeowner Is … Demand Propels Home Prices Upward 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines, News, REO Within the last several months, the Kansas Court of Appeals has taken a closer look at the procedure for confirming Sheriff’s Sales in Kansas. K.S.A. §60-2415(a) states, “If the court finds the [sale] regular and in conformity with law and equity, it shall confirm the same.” That statute goes on to set out that, under the courts’ equitable powers, the only basis a court may use to deny a confirmation of sale is finding a bid “substantially inadequate.” While that term is not specifically defined in, we know that a sale for the total debt owed (i.e., “judgment, taxes, interest, and costs”) “shall be deemed adequate.” K.S.A. §60-2415(b).In two recent situations, the Court of Appeals reviewed what appears to be a common practice in many jurisdictions where the Motion and Order for Confirmation of Sheriff’s Sale are submitted, and sometimes even entered, simultaneously.  The defendant-borrower in JPMorgan Chase Bank, Nat’l Ass’n v. Taylor, 417 P.3d 272 (Kan. Ct. App. 2018) objected to the district court confirming the sheriff’s sale the same day the Motion to Confirm Sheriff’s Sale was filed without notifying her of the Order to Confirm Sheriff’s Sale ever having been filed.  Following judgment, Chase purchased the property at the sale for the full judgment amount and shortly thereafter, filed its confirmation pleadings. The defendant-borrower was sent a copy of the Motion to Confirm Sheriff’s Sale and eleven days later, she objected to the same, alleging that by not bidding the fair market value of the property, Chase was “cheating her out of equity. Despite the objection, however, the district court in Taylor entered the order confirming the sheriff’s sale the same day the motion was filed and when the defendant-borrower learned of this, she appealed claiming a violation of her due process rights for failure of the district court to hear and consider her objection.  The Court of Appeals, relying upon Kan. Sup. Ct. Rule 133, found that because the objection to the Motion for Confirmation of Sheriff’s Sale was filed eleven days after the motion, it was untimely and even though the Order confirming sale was entered prematurely, there was no error by the district court in failing to consider an untimely objection. Of particular note in this matter is that despite the full-debt bid and the statute dictating that the sale shall be deemed adequate, the Court of Appeals seems to go out of its way to discourage this type of practice and stating that, “any procedure adopted by a district court that allows for automatic approval of a sheriff’s sale without at least waiting to see if someone files an objection is subject to a later ruling that it is void as a violation of due process.” Taylor at 8-9.Reverse Mortg. Sols., Inc. v. Goldwyn, 2018 Kan. App. LEXIS 36 (Ct. App. July 6, 2018) decided just earlier this month, considered a number of interesting elements related to a Sheriff’s Sale, including the procedure for confirming the sale. This case involved a foreclosure of a reverse mortgage and subsequent in rem judgment against the borrower’s heir which then resulted in Reverse Mortgage Solutions purchasing the property at sheriff’s sale at a price less than the full-debt owed.  Similarly, the district court granted the motion requesting confirmation of the sheriff’s sale the same day it was filed. And, similarly, after an appeal claiming the order confirming sheriff’s sale was entered prematurely, the Court in Goldwyn, as in Taylor, agreed that the district court should have allowed time for any opposing parties to respond to the motion.However, the thrust of the defendant-borrower’s argument was that because the sale was not for the fair market value of the property, the sale should be deemed substantially inadequate. The Court correctly noted that even if that argument were true, the failure to bid fair market value does not necessarily mean the sale is substantially inadequate. The reliance on this argument allowed the Court to find that the premature entry of the order was harmless error and the confirmation of sale was upheld.  While neither of these cases ultimately resulted in unconfirmed sales, district courts in Kansas appear to be taking note of the scrutiny the Court of Appeals has been giving the confirmation of sheriff’s sale and at least one district has recently begun requiring hearings on all Motions to Confirm Sheriff’s Sale regardless of whether the sale was for the total debt or there is no deficiency judgment.  last_img read more

Keeping Up With the Joneses

first_img The Best Markets For Residential Property Investors 2 days ago Tagged with: Canada Home Prices Homebuyers Homeownership HOUSING Point2Homes rents U.S.  Print This Post Demand Propels Home Prices Upward 2 days ago Keeping Up With the Joneses 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 Share Save Previous: Dan Madden to Join Ellie Mae Next: The Week Ahead: Spotlight on the GSEs Related Articles The Best Markets For Residential Property Investors 2 days ago About Author: Radhika Ojha November 30, 2018 1,980 Views center_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Keeping Up With the Joneses Canada Home Prices Homebuyers Homeownership HOUSING Point2Homes rents U.S. 2018-11-30 Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. in Daily Dose, Featured, Market Studies, News Are housing costs more overwhelming in Canada or in the U.S.? A recent study by Point2Homes analyzed the evolution of the housing markets in these countries that share a border to assess their current status.For the study, Point2Homes extracted historical data on market trends and examined numbers from 2008 and 2018. They looked at key metrics including average home price, rent, homeownership rates, changes in the countries’ median incomes, and the countries’ evolution on the affordability scale for a side-by-side comparison.The study found that while the average home price in the U.S increased at a much slower rate of 24 percent, the average Canadian had to dish out 56 percent more to buy a home and 25 percent more to rent one. Median incomes for Canadians also rose at a slower pace than their U.S. counterparts at 15 percent, compared with 18 percent for American homebuyers.According to the study, a decade after the housing crisis in the U.S. some analysts have claimed that Canada faces a similar scenario where household debt currently exceeds 100 percent of GDP.Looking at historical U.S. housing data, the study found that in the U.S., homeownership rates reached a peak towards the end of 2004, when the percentage of homeowners settled at 69.2 percent, only to start decreasing in 2007. By 2015, the share of homeowners in the U.S. fell to 62.9 percent, a level that hasn’t been seen since 1965, when data gathering was just starting. After three years of recovery, the share of homeowners in the U.S. is currently pegged at 64.2 percent.Comparatively, homeownership rates in Canada rose at a steady pace for more than four decades hitting an all-time high of 69 percent in 2011, but the percentage has dipped to 67.8 percent following the economic downturn in the country from 2014. Despite these declines, home prices in Canada increased twice as fast as the U.S.”Due to a staggering 56 percent jump since 2008, Canada’s average home price went from $304,663 CAD to $475,591 CAD in just ten years,” the study revealed. “The U.S. market’s increases have been more contained: after a 24 percent increase, the average home price went from $245,200 in 2008 to $303,200 in 2018.” 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 Subscribelast_img read more

Where Are Americans Moving?

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The South is rising for U.S. homebuyers looking to move to another state or region, according to a state migration study by LendingTree.The study indicated that of the 12.1 percent homebuyers across the country who change states, most preferred to head south, with Florida being the No. 1 destination for the migrant population of 15 of the 50 states that were reviewed.For the study, LendingTree reviewed over 2 million new purchase mortgage loan requests for primary residences in all 50 states until November 2018 to find the most popular new locations for homeowners in each state along with the states with the highest percentage of requests to move to other parts of the country.Of all purchase mortgage requests during the study’s period, 9.1 percent were for Florida. For out-of-state movers, 12.4 percent of requests were for Florida, the study found. Texas had the highest percentage of residents looking to move within state lines with 93.4 percent of purchase mortgage requests from individuals of the Lone Star State being for properties within the state. Texas also beat Florida in the number of people from other states looking to move.Alaska topped the list of states where residents were looking to move away with only 75.2 percent looking to stay on in the state. Washington was the preferred state for residents looking to move out of Alaska.When adjusted for population size, the study found that South Carolina scored the highest as “mortgage loan requests were 52 percent greater than suggested by its share of the national population.” Florida, Delaware, Georgia, and North Carolina were also among the top states when viewed by this metric. North Dakota led the states that were least popular by this metric followed by Hawaii, Minnesota, California, and New York.Click here to read the full study. Data Provider Black Knight to Acquire Top of Mind 2 days ago December 5, 2018 3,946 Views Demand Propels Home Prices Upward 2 days ago Homebuyers Inbound LendingTree migration Outward Migration Residents 2018-12-05 Radhika Ojha Where Are Americans Moving? Subscribe Tagged with: Homebuyers Inbound LendingTree migration Outward Migration Residents The Week Ahead: Nearing the Forbearance Exit 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Related Articles 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  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Home / Daily Dose / Where Are Americans Moving? The Best Markets For Residential Property Investors 2 days ago Previous: Top 5 Affordable Markets Next: The Mortgage Law Firm Announces Expansion Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save About Author: Radhika Ojha Sign up for DS News Daily last_img read more

Fannie Mae and Freddie Mac Check-in for Q4

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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Fannie Mae Financial Results Freddie Mac Hugh R. Frater Q4 2018 2019-02-14 Donna Joseph Tagged with: Fannie Mae Financial Results Freddie Mac Hugh R. Frater Q4 2018 Sign up for DS News Daily February 14, 2019 2,905 Views About Author: Donna Joseph in Daily Dose, Featured, Government, News, Servicing Servicers Navigate the Post-Pandemic World 2 days ago Previous: Homebound: More Young Adults Living With Parents Next: The State of Refinance at Fannie and Freddie On Thursday, Fannie Mae and Freddie Mac reported their fourth quarter and full year 2018 financial results. Fannie Mae reported a net income of $16.0 billion and fourth quarter 2018 net income of $3.2 billion. Fannie Mae expects to pay a $3.2 billion dividend to Treasury by March 31, 2019. Through Q4 2018, the company has paid $175.8 billion in dividends to Treasury.Among its business highlights, the report indicated that the agency provided approximately $512 billion in liquidity to the mortgage market in 2018. Fannie Mae was the largest issuer of single-family mortgage-related securities in the secondary market for the full year and Q4 2018. Over 56 percent of the single-family mortgage loans the company acquired were affordable to families earning at or below 120 percent of the area median income, providing support for both affordable and workforce housing. The company’s estimated market share of new single-family mortgage-related securities issuances was 39 percent for the full year 2018 and 37 percent for the fourth quarter of 2018. The report also stated that Fannie Mae has transferred a portion of the credit risk on single-family mortgages with an unpaid principal balance of more than $1.5 trillion since 2013, measured at the time of the transactions, including approximately $354.0 billion in 2018. The company’s credit-related income was $923 million in the fourth quarter of 2018, compared with $557 million in the third quarter of 2018. According to Fannie Mae, the increase in credit-related income in the fourth quarter was driven primarily by lower projected future interest rates and higher forecasted home prices. “Looking ahead, we will continue working with our customers and other partners on critical challenges, such as increasing the supply of affordable housing and driving digital transformation of the mortgage industry,” Hugh R. Frater, CEO at Fannie Mae. The agency stated this is reflective of the company’s underlying business fundamentals.Freddie Mac’s results revealed that its net income of $9.2 billion and comprehensive income of $8.6 billion increased $3.6 billion and $3.1 billion, respectively, compared to the results of full-year 2017. These results primarily reflect two significant items in 2017—a $5.4 billion write-down of the company’s net deferred tax asset resulting from tax reform legislation, partially offset by a $4.5 billion, or $2.9 billion after-tax, benefit from a litigation settlement related to non-agency mortgage-related securities, combined with lower income tax expense due to the reduction in the statutory corporate income tax rate in 2018. The agency’s Q4 results net income of $1.1 billion and comprehensive income of $1.5 billion decreased $1.6 billion and $1.1 billion, respectively, from the third quarter of 2018, driven primarily by market-related losses. On the other hand, the Guarantee fee income increased $149 million from the full-year 2017 primarily due to continued growth in the multifamily guarantee portfolio. Overall, the agency reported solid business revenues, strong credit quality, and a higher guarantee portfolio balance.  Related Articles The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Share Save Fannie Mae and Freddie Mac Check-in for Q4 The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Home / Daily Dose / Fannie Mae and Freddie Mac Check-in for Q4 Demand Propels Home Prices Upward 2 days ago Subscribe read more

Interest Rates Cut for the First Time in a Decade

first_img Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Interest Rates Cut for the First Time in a Decade Data Provider Black Knight to Acquire Top of Mind 2 days ago Interest rates have been cut for the first time in a decade, as the Fed announced Wednesday that rates will drop by a quarter of a point. According to reports from The Washington Post, interest rates will fall to 2.25%, with the Fed saying that the central bank is ready to “cut more to stimulate the economy, if necessary.” “Uncertainties about this [economic] outlook remain,” the Fed wrote, adding, “As the [Fed] contemplates the future path of the target range for the federal funds rate, it will continue to monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion.”Realtor.com’s Chief Economist Danielle Hale said economic growth has stalled and inflation has remained under the Fed’s 2% target since the last rate cut. “Although the labor market remains strong, with healthy job growth and the unemployment rate near long-term lows, the Fed’s concerns about our economic outlook and the long lag time between lowering rates and seeing effects in the real economy were key drivers of the decision,” Hale said. Hale said it is “unlikely” that Wednesday’s rate cut will lead to additional drop in mortgage rates, because interest rate dropping was expected. Hale, though, added a factor that may put pressure on rates is an earlier end to the fed’s balance sheet ending, which is now planned for August—two months earlier than expected. Tian Liu, Chief Economist at Genworth Mortgage Insurance, said while the cut was anticipated by many in the industry, it is “not a major deviation from what the market was anticipating.”Liu added that the housing market is likely to see a boost moving forward, as the moderate drop will likely stimulate economic growth, and possibly bring buyers back to the market. “I think a lot of people were talking about waiting out for the Fed rate cut, and I think once they see that the Fed rate cut is not going to change mortgage rates significantly, they will likely come off the sidelines and start buying again,” Liu said. “I think that’s going to be positive for the housing market and also for the mortgage industry.” The mortgage industry has had a successful Q2 2019, Liu said, noting the industry has brought in more than $560 billion in origination. Although a rate cut was expected, the Fed was facing pressure, especially from President Donald Trump, to drop rates. Trump tweeted in July that he believes now is the best time to cut interest rates.“Very inexpensive, in fact productive, to move now,” the President tweeted. “The Fed raised & tightened far too much & too fast.”The economy exceeded expectations in Q2 2019, although slowing, according to the latest GDP report, which reported that Q2 2019 saw the GDP increase at an annual rate of 2.1%, compared to Q1 2019’s rate of 3.1%. Liu said the latest GDP report shows a moderate slowdown, and something the Fed hopes to address in a “gentle way.” While noting the economic slowdown is not as dramatic as some anticipated, the Fed would like to see a faster level of growth. Although this is the first cut in a decade, Liu said there is a good chance the wait won’t be as long for the next, as there is a “very high probability” of a second rate cut later in 2019.Any additional rate cuts will depend on how the global economy, trade tensions, and the financial market reacts to Wednesday’s cuts, Liu said. Related Articles  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Fed Interest rates Sign up for DS News Daily Fed Interest rates 2019-07-31 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 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. in Daily Dose, Featured, Government, Newscenter_img The Best Markets For Residential Property Investors 2 days ago Share Save Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Mike Albanese Interest Rates Cut for the First Time in a Decade July 31, 2019 6,086 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Freddie Mac Reports Increased Income Next: Nationwide Affordability Problems Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

High-Cost Housing Creates Obstacles for Older Generation

first_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago High-Cost Housing Creates Obstacles for Older Generation Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago A generation’s desire to “age-in-place” has created a need for officials and policymakers at local levels to assess how well they are meeting the needs of homeowners at this life stage, according to a collaborative study by Harvard Joint Center for Housing Studies and AARP PublicPolicy Institute.”A rapidly aging population has helped spur recognition of the importance of creating livable and age-friendly neighborhoods, where people of all ages can maintain independence and high quality of life. However … most older adults in the US do not reside in livable communities, and there are significant differences between who has access to the country’s most livable communities,” wrote Jennifer Molinsky, Senior Research Associate at Harvard. “These differences depend on whether the resident is a homeowner or renter, whether they have a disability, and by race/ethnicity and income.The researchers note that “livability” is subjective. That said, AARP’s Livability Index measures key categories, including housing affordability,  accessibility, and options. The categories are explained further here.”Using data from the Index and the American Community Survey, our report finds that renters and Asian older adults are more likely to live in high livability neighborhoods while homeowners, middle-income households, older adults with disabilities, and white older adults are more common in places of low livability,” said Molinsky. “Shares of Black and Hispanic older adults hold steady across neighborhoods of all levels of livability.”The report also showed older adults who relocate are not moving to more “liveable” locations. Such moves, the data show, are essentially lateral (75%). Just 11% of this age demographic who moved made a “liveability” improvement, while 14% moved to areas with lower scores.Following are some of the main themes found inside the report:Livability Gap. There is a disconnect between what people have and what they need in communities to age in place.Housing Affordability. Communities that score higher on the Index tend to have higher housing costs. High housing costs can create obstacles to accessing the benefits livable communities can provide.Disparities in Access to Specific Livability Features. People of color, people with disabilities, and people with lower incomes may not have access to all of the amenities andservices that support aging. As the analysis shows, even when living in high-scoring communities, these groups may not have access.According to Molinsky, the report supports “policy solutions to address barriers and improve livability for people of all ages and older adults more specifically.” 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. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News 2020-11-04 Christina Hughes Babb Related Articles  Print This Post November 4, 2020 4,090 Views 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 Share 1Save Data Provider Black Knight to Acquire Top of Mind 2 days ago 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 About Author: Christina Hughes Babb Home / Daily Dose / High-Cost Housing Creates Obstacles for Older Generation Previous: Best of DS5: Advancing Tech and Working From Home Next: Digital Transactions: A Matter of Business Survivallast_img read more

No major ESB problems reported after a night of gale force winds

first_imgNews WhatsApp Three factors driving Donegal housing market – Robinson No major ESB problems reported after a night of gale force winds Motorists are being advised to drive with care this morning after high winds hit parts of the West and North West last night.Strong gusts ranging from 100-to-130 kilometres per hours battered parts of Donegal, Galway, Leitrim, Mayo, Sligo, Clare, Kerry and Limerick last night. So far, ESB Networks are not reporting any major problems in the county.Met Eireann forecaster David Rogers says there may be some sleet and snow today, but it won’t stick……….[podcast]http://www.highlandradio.com/wp-content/uploads/2014/01/metmonday.mp3[/podcast] Twitter Pinterest Google+ RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter Previous articleLGH Manager says 2013 targets were met despite severe pressuresNext articleBlaze lost out in National Final News Highland center_img By News Highland – January 27, 2014 NPHET ‘positive’ on easing restrictions – Donnelly 448 new cases of Covid 19 reported today Pinterest Google+ Facebook Help sought in search for missing 27 year old in Letterkenny WhatsApp Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector publishedlast_img read more