Month: May 2021

Watt Discusses FHFA’s Progress Toward Goals in Speech

first_img Watt Discusses FHFA’s Progress Toward Goals in Speech  Print This Post Home / Daily Dose / Watt Discusses FHFA’s Progress Toward Goals in Speech Previous: Neugebauer Introduces CFPB Reform Bill Next: Counsel’s Corner: Court System is Biggest Challenge in Foreclosure, Eviction Cases March 5, 2015 1,114 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Conservatorship Scorecard FHFA Goldman Sachs Mel Watt Federal Housing Finance Agency (FHFA) Director Mel Watt discussed the progress toward the Agency’s three main goals – maintaining, reducing, and building – in a speech he delivered Thursday at the Goldman Sachs Housing Finance Conference in New York.These three goals are being tracked in the FHFA’s annual Conservatorship Scorecard, which was released in early January.”The annual Conservatorship Scorecard is FHFA’s mechanism for laying out our priorities and expectations for the Enterprises and our means of providing transparency to the public about what we expect,” Watt said.Watt said there are “no surprises” in 2015 when it comes to the first goal of maintaining. He outlined the Agency’s two objectives under this goal, which are to maintain, promote, and expand access to credit safely and soundly, and to continue the loss mitigation and foreclosure prevention activities of Fannie Mae and Freddie Mac.Two of the actions the FHFA has taken to fulfill the first goal of maintaining are to update and clarify the Representation and Warranty Framework Fannie Mae and Freddie Mac use to make sure that they loans they purchase meet underwriting guidelines and to update and enhance the Enterprises’ counterparty standards for mortgage servicers.”We believe that providing lenders greater certainty about when and under what circumstances they would be required to repurchase or take loans back onto their books and providing servicers updated guidelines about when they would be required to pay compensatory fees has moved the availability of mortgage credit in the right direction,” Watt said. “We expect the Enterprises to continue these efforts in 2015.”Also to fulfill FHFA’s goal of maintaining, Watt said both of the Enterprises planned to reduce the amount of non-performing loans in their portfolios. Earlier this week, Freddie Mac made its first NPL sale of 2015 when it auctioned off 1,975 loans with a UPB totaling $392 million. Last month in its 2014 Financial Summary, Freddie Mac reported that it helped 120,000 distressed borrowers avoid foreclosure through either loan modifications, repayment plans, forbearance agreements, short sales, or deeds-in-lieu of foreclosure – bringing the total number of homeowners the Enterprise has helped with a foreclosure alternative since 2009 up to 1.1 million.Under the goal of reducing risk to taxpayers by increasing private capital’s role in the mortgage market, Watt said 2014 was a “breakthrough year for the Enterprises’ single-family credit risk transfer program.” The Enterprises began a handful of transactions in the second half of 2013 that became programs of regular debt issuances known as STACR for Freddie Mac and CAS for Fannie Mae.”The ability and willingness of the Enterprises to provide historical loan performance data has greatly enhanced the ability of the market to achieve pricing that both serves the interests of investors and allows the Enterprises to meet their financial objectives,” Watt said.According to Watt, FHFA tripled the risk transfer requirement in the 2014 scorecard compared to $2013. Each Enterprise was required to transfer a portion of the single-family mortgage credit risk with a UPB of $90 billion, compared with the 2013 requirement of $30 billion. Both Enterprises executed credit risk transfer transactions on mortgages with a combined UPB of more than $300 million, significantly surpassing last year’s benchmark.On the “build” component of the 2015 scorecard, Watt discussed the objective of building a new securitization infrastructure for Fannie Mae and Freddie Mac that other secondary market participants would be able to use.”Last year was the first time that FHFA included the development of a Single Security as part of our conservatorship priorities for the Enterprises,” Watt said. “Our objective in adding this multi-year project to the agenda is to improve overall liquidity in the market, which will not only be beneficial to the Enterprises and other market participants, but will also benefit borrowers. It would also benefit taxpayers by reducing Freddie Mac’s costs that result from the trading disparity between Freddie and Fannie’s securities.”Watt said providing increasing levels of detail about the Single Security will be a “high priority” for FHFA in 2015. Conservatorship Scorecard FHFA Goldman Sachs Mel Watt 2015-03-05 Brian Honea Servicers Navigate the Post-Pandemic World 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. center_img Sign up for DS News Daily Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe in Daily Dose, Featured, News, Secondary Market Related Articles The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honealast_img read more

Freddie Mac’s Portfolio Expands for Fifth Straight Month, This Time by $4.5 Billion

first_img Demand Propels Home Prices Upward 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe July 24, 2015 1,038 Views Home / Daily Dose / Freddie Mac’s Portfolio Expands for Fifth Straight Month, This Time by $4.5 Billion 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. Servicers Navigate the Post-Pandemic World 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 Previous: Appeals Court Revives Suit Challenging CFPB’s Constitutionality Next: Bill to Limit Compensation for Top GSE Executives Advances in House Committee Freddie Mac Monthly Volume Summary Mortgage Portfolio Serious Delinquency Rate 2015-07-24 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Postcenter_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Freddie Mac Monthly Volume Summary Mortgage Portfolio Serious Delinquency Rate The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles in Daily Dose, Featured, News, Secondary Market Freddie Mac’s Portfolio Expands for Fifth Straight Month, This Time by $4.5 Billion About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Freddie Mac’s total mortgage portfolio expanded at an annualized rate of 2.8 percent in June, marking the fifth consecutive month and the 10th time in the last 12 months the portfolio has grown, according to Freddie Mac’s June 2015 Monthly Volume Summary released on Wednesday.The serious delinquency rate on Freddie Mac-backed single-family residential mortgage loans fell by another 5 basis points from May to June, down to 1.53 percent–virtually the same as the 1.52 percent serious delinquency rate reported for Freddie Mac-guaranteed loans in November 2008 at the start of the financial crisis. Freddie Mac’s serious delinquency rate was less than half of the nationwide rate reported by CoreLogic for May, which was 3.5 percent.The number of homeowners who received permanent loan modifications totaled 4,895 for June, a slight increase from 5,490 in May. With 30,312 modifications for the first half of 2015, Freddie Mac is averaging 5,052 modifications per month. This figure represented a decline of about 500 mods per month from 2014’s monthly average of 5,596. Freddie Mac tweeted on Friday, “We helped nearly 4,900 families avoid foreclosure last month and over 30,000 in the first half of 2015.”The expansion of Freddie Mac’s portfolio represented an increase of about $4.51 billion, up to nearly $1.923 trillion. It was the portfolio’s largest expansion since December 2014, when it grew by $7.1 billion at an annualized rate of 4.5 percent. The 2.8 percent expansion rate is the second-highest during the last 12 months, second only to December’s 4.5 percent. At the beginning of that 12-month period, in July of 2014, the portfolio’s value was $1.895 trillion.Though the portfolio has seen expansion in 10 of the last 12 months, June was only the 17th time in the last 66 months that the portfolio has grown dating back to January 2010.”Driven by low mortgage rates and surging home sales, conventional mortgage activity is up substantially from one year ago,” Freddie Mac Chief Deputy Economist Len Kiefer said. “According to our latest estimates, conventional mortgage origination volume is up $139 Billion (+30 percent) in the first half of 2015 compared to the first half of 2014. We expect interest rates to rise gradually and refinance volume to slow substantially in the second half of 2015, more than offsetting increased purchase mortgage activity. As a whole, we expect mortgage origination volume in 2015 to be up $100 billion (8 percent) compared to 2014.”Single-family refinance loan purchase and guarantee volume totaled $20.3 billion in June, up slightly from $20.1 billion in May. The percentage of single-family refinance loan purchase and guarantee volume that comprised the total single-family mortgage portfolio fell from 61 percent in May to 56 percent in June. The percentage of Freddie Mac’s total single-family refinance volume was 9 percent in June, down from 10 percent in May.The aggregate unpaid principal balance (UPB) of the Freddie Mac’s mortgage-related investments portfolio declined by about $7 billion from May to June after declining about $9.8 billion from April to May. Freddie Mac’s mortgage-related securities and other guarantee commitments saw an annualized rate increase of about 5.3 percent in June.last_img read more

Gap Between First-Time Buyer and Repeat Buyer Risk Continues to Widen

first_img Gap Between First-Time Buyer and Repeat Buyer Risk Continues to Widen in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago As Agency first-time buyer mortgages get riskier, the gap between fist-time buyer mortgage risk and repeat buyer mortgage risk continues to get wider, according to data released on Monday by the American Enterprise Institute (AEI)’s International Center on Housing Risk.The Agency First-Time Buyer Mortgage Risk Index (FBMRI) rose year-over-year by 0.7 percentage points in February up to 15.7 percent, meaning that 15.7 percent of Agency mortgages would default if they experienced economic stress comparable to the 2007-08 financial crisis, according to AEI.Meanwhile, the Agency FBMRI is now 5-3/4 percentage points higher than the mortgage risk index for repeat homebuyers, up 5 percentage points over-the-year, AEI reported. First-time homebuyers have been responsible for essentially all of the year-over-year increase in the composite National Mortgage Risk Index (NMRI) since early 2015, which is a further indicator that the gap is growing larger for risk on first-time buyer mortgages and repeat buyer mortgages.“The gap between first-time buyer and repeat buyer mortgage risk levels now stands at 5.79 percentage points compared to 5.03 and 4.85 percentage points in February 2015 and 2014 respectively,” said Ed Pinto, codirector of AEI’s International Center on Housing Risk. “Given the long running seller’s market, risk layering works to artificially push up prices, particularly for entry-level buyers; the result is a pernicious wealth transfer from the buyers to sellers of these homes.”Risk layering is largely responsible for the widening of the gap between risk in first-time homebuyers and repeat homebuyers. In February 2016, 20 percent of first-time buyers had a combined LTV ratio of 95 percent of higher and 97 percent of them had a 30-year term. The combination of a low down payment and slow amortization means that barring substantial home price appreciation, this group of homeowners will have very little equity for many years.Also, according to AEI, one-fifth of first-time buyers had a FICO score lower than 660, which is the traditional definition of subprime mortgages, and one-fourth of them had debt-to-income ratios of higher than the 43 percent set by the Qualified Mortgage rule. By comparison, repeat homebuyers had a much smaller share of buyers with CLTVs higher than 95 percent and a much smaller share of borrowers with FICO scores below 660.In February 2016, the median first-time buyer with an Agency mortgage made a down payment of 3.5 percent, which calculates to about $8,600, and the median FICO score for first-time buyers with Agency mortgages was 707—only slightly below the median for all individuals in the U.S. with a FICO score (713).“The typical first-time buyer these days has a relatively low credit score and puts little money down.” said Stephen Oliner, codirector of AEI’s International Center on Housing Risk.  “These facts make clear that mortgage credit isn’t tight.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: AEI International Center for Housing Risk Agency First-Time Buyer Risk Repeat Buyer Risk 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. About Author: Brian Honea Previous: Congressionally-Funded Loss Mitigation Program Counts Two Million Served Next: Distressed Homeowners Still Turning to Permanent Loan Modifications Servicers Navigate the Post-Pandemic World 2 days ago  Print This Postcenter_img AEI International Center for Housing Risk Agency First-Time Buyer Risk Repeat Buyer Risk 2016-03-21 Brian Honea Sign up for DS News Daily Share Save The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Gap Between First-Time Buyer and Repeat Buyer Risk Continues to Widen Related Articles Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago March 21, 2016 1,177 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Why Student Debt May Not Hinder Homeownership

first_img Why Student Debt May Not Hinder Homeownership Student debt has long been thought to hinder new homeowners from entering the housing market, but recent data from Fannie Mae shows that this may not be a factor anymore.The report says that according the Federal Reserve, total student debt in America has more than tripled in the last decade to more than $1.3 trillion in April. Meanwhile, the U.S. homeownership rate is near a 48-year low at 63.5 percent, according to the Commerce Department’s report for the first three months of this year.According to the report and data from Fannie Mae’s National Housing Survey, potential buyers with student loans who received a bachelor’s degree, or a higher level of education, are found to be 27 percent more likely to be homeowners than those who are high school graduates who didn’t attend college and therefore have no student debts.This study notes that the issue of student debt is likely to affect the homeownership rates of certain groups of people more than others. For example, those who completed at least a bachelor’s degree without student debt were 43 percent more likely to be homeowners than high school graduates who didn’t attend college and don’t have student debt.“Before we ran this analysis, we knew [student debt] would likely hurt homeownership rate, but we didn’t know to what degree,” says Qiang Cai, an economist with Fannie Mae.The report still states thought that while student debt may delay homeownership, it doesn’t eliminate the idea altogether. For example, renters ages 25 to 44 with student debt are shown to be 28 percent less likely to buy rather than rent their next home compared to those without student loans.While graduating debt-free makes owning a home easier, the report states that economists across the board agree over the importance of a college degree when it comes to unemployment and income levels. Likewise, another study about homeownership and student debt by the Federal Reserve looked at credit reports and data on college attendance from the National Student Clearinghouse. The study shows there’s a major gap in homeownership between those who do and don’t go to college, similar to the results found from the Fannie Mae study. Home / Daily Dose / Why Student Debt May Not Hinder Homeownership Share Save Related Articles Demand Propels Home Prices Upward 2 days ago 2016-08-15 Kendall Baer Servicers Navigate the Post-Pandemic World 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago August 15, 2016 1,389 Views  Print This Post Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Previous: The Clock Starts Now: TRID Public Comments Begin Next: DS News Webcast: Tuesday 8/16/2016 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Kendall Baer Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

Calabria Nom Clears Senate Committee, What’s Next?

first_img The Best Markets For Residential Property Investors 2 days ago Subscribe Calabria Nom Clears Senate Committee, What’s Next? in Daily Dose, Featured, Government, News Share Save About Author: Radhika Ojha Mark Calabria s FHFA Sen Mike Crapo Senate Banking Committee 2019-02-26 Radhika Ojha Sign up for DS News Daily Tagged with: Mark Calabria s FHFA Sen Mike Crapo Senate Banking Committee The Best Markets For Residential Property Investors 2 days ago Previous: NHC Urges Joseph Otting to Continue CMF Allocations Next: Maxine Waters: “This Hearing Was Long Overdue” Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February 26, 2019 1,630 Views Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Dr. Mark Calabria’s nomination to head the Federal Housing Finance Agency (FHFA) as Director took a step towards confirmation with the Senate’s Banking Committee approving his nomination by a vote of 13-12. The nomination will be confirmed after a Senate vote that is being set for a later date.Calabria’s nomination was voted on by the Senate Banking Committee along with the nominations for Bimal Patel, to be an Assistant Secretary of the Treasury; Todd M. Harper, to be a Member of the National Credit Union Administration Board; and Rodney Hood, of North Carolina, to be a Member of the National Credit Union Administration Board”If confirmed all these nominees will play integral roles in helping to promote the U.S. trade and facilitate commerce abroad, oversee policy and regulation of the financial system and support our nation’s housing system,” said Sen. Mike Crapo in his remarks before the vote.Calabria was nominated for the post of Director FHFA by the Trump administration in December 2018. Prior to being nominated for this position, he was the Chief Economist to Vice President Mike Pence.“I congratulate Mark Calabria on his nomination as director for the Federal Housing Finance Agency,” said Ed Delgado, President and CEO of The Five Star Institute. “Housing finance policy is approaching a critical juncture and we look forward to working with Dr. Calabria and the team at FHFA towards implementing regulations that preserve and protect homeownership.”Recently, Calabria had told the Senate Banking Committee during a hearing that he was committed to making the FHFA a “World-class regulator.””FHFA is absolutely necessary,” Calabria had said while answering a question on why he wanted to take up this job, despite his past remarks. “In fact, I want to raise the stature of FHFA. I remember how the employees at its predecessor felt and their inability to stand up and be able to do effective financial regulation. I’m committed to seeing turning FHFA into a world-class regulator.”While his prepared remarks didn’t mention the current administration’s goal of the privatization of the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, Calabria addressed these issues during his discussions with the Committee. Calabria said that if he was confirmed as Director of the FHFA his role would be to “carry out the clear intent of Congress, not impose my own vision.”During his nomination hearing, Calabria gave an outline of what his priorities would be if confirmed. Calabria said that a number of critical elements were needed in reform such as a “greater need for competition.” He said the current FHFA mandate was clearly where “the regulator cannot make such changes.” As a result, he said, “The very broad changes that have to happen in the mortgage finance system have to be done by Congress.”Calabria said that if he was confirmed as the FHFA Director his objective would be to ensure the GSEs were, “well capitalized, well managed, and well regulated.”Addressing his views on the affordable housing goals Calabria said that his past concerns with affordable housing goals were in the context of “two large institutions with zero capital.” However, he added, “I do believe we can get to a spot where we can have risk-taking via affordable housing goals if we can have an appropriate regulatory structure that has capital backing those goals. I’m very concerned about any large financial institution where we push it to take an additional risk without the appropriate regulatory structure in place.”Clarifying his comments on getting rid of the GSEs in the past, he said that they were essentially pointed towards getting rid of the model of privatizing gains and socialize losses. “I believe all large financial institutions need to be well capitalized more managed, more regulated, and I believe the GSEs were “none of the above” before the crisis. “I want these entities to be good corporate citizens, I want them to be the model of how other corporation should want to behave.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Calabria Nom Clears Senate Committee, What’s Next? Demand Propels Home Prices Upward 2 days ago  Print This Postlast_img read more

FHFA Seeks Input on Universal Mortgage-Backed Securities Practices

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac UMBS Share Save The Best Markets For Residential Property Investors 2 days ago November 4, 2019 1,240 Views Demand Propels Home Prices Upward 2 days ago Fannie Mae FHFA Freddie Mac UMBS 2019-11-04 Seth Welborn  Print This Post Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago FHFA Seeks Input on Universal Mortgage-Backed Securities Practices The Federal Housing Finance Agency (FHFA) recently issued a Request for Input (RFI) about Fannie Mae’s and Freddie Mac’s pooling practices for the formation of “To-Be-Announced”-eligible Uniform Mortgage-Backed Securities (UMBS).  FHFA is also seeking public input about other policies and practices that might affect UMBS fungibility, including the Enterprises’ oversight of UMBS prepayment speeds and alignment.This RFI follows the launch of UMBS and “seeks to ensure that UMBS remain a source of stable, affordable liquidity for the U.S. housing finance system.”  Fannie Mae and Freddie Mac announced marked the completion of their Single Security Initiative with the launch of the UMBS earlier this year. “UMBS is the result of close collaboration with FHFA, Freddie Mac, Common Securitization Solutions, and hundreds of housing finance stakeholders and we congratulate all involved on this achievement,” said Renee Schultz, SVP, Capital Markets, Fannie Mae in a statement. “We remain focused on ensuring that all market participants continue to make a smooth transition to UMBS and maintaining a highly liquid housing finance market.”“The UMBS is one of the most significant accomplishments in our decade-long effort to improve the U.S. housing finance system,” said Mark Hanson, SVP, Securitization, Freddie Mac in a statement. “Americans will benefit from the efficiency and standardization brought about by this new common security. The success of the initiative is a direct result of Freddie Mac’s collaboration with Fannie Mae, Common Securitization Solutions, FHFA, and thousands across the U.S. housing finance industry. We are grateful for their hard work, and we join them in celebrating this achievement.”FHFA invites feedback on all aspects of this RFI and the proposed approach to UMBS pooling no later than December 19, 2019.  Input to the RFI should be submitted electronically here or via  mail to the Federal Housing Finance Agency, Division of Conservatorship, 400 7th Street, S.W., 8th floor, Washington, D.C., 20219. Servicers Navigate the Post-Pandemic World 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Seth Welborn Related Articles Previous: HUD’s Montgomery, Property Preservation Leaders Discuss Industry Challenges Next: What Drives Early-Stage Delinquency Rates? The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHFA Seeks Input on Universal Mortgage-Backed Securities Practices in Daily Dose, Featured, Government, News, Secondary Market 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Federal Reserve Outlines Challenges Ahead

first_img Tagged with: Beige Book Federal Reserve Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Federal Reserve Outlines Challenges Ahead Servicers Navigate the Post-Pandemic World 2 days ago Share Save July 20, 2020 1,487 Views Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Federal Reserve Outlines Challenges Ahead  Print This Postcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Beige Book Federal Reserve 2020-07-20 Mike Albanese About Author: Phil Hall The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: HUD, OCC Tout Opportunity Zone Potential Next: Rent Prices Report Slowest Growth Since 2010 Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Real estate markets across the country continued to deal with lower inventories and rising prices, although some regions are seeing a new wave of residential construction, according to findings in the Federal Reserve’s Beige Book report for July.The Beige Book found home sales increased moderately across the nation. Within each district, activity varied from mild to robust. The weakest performance was in the New England region covered by the Boston Fed, which found double-digit decreases in both single-family and condo sales on a year-over-year basis during May, with inventory down “substantially” in all reporting areas.However, median prices were up for all areas except Vermont and the condo markets in Boston and Massachusetts. (Connecticut did provide data for this report.) The Atlanta recorded a similar situation of low inventory and higher prices but was also dealing with a sharp increase in 30-delinquencies, particularly in the South Florida markets.Elsewhere, the overall activity was more positive. The Cleveland Fed found its region addressing the inventory issue, with homebuilders reporting “stronger-than-expected new-home sales in May and June as buyers returned to the market as social distancing restrictions were eased.”The Dallas Fed report trumpeted that “activity in the housing market improved markedly” in its district as “new-home sales strengthened, with several contacts noting a record month in May and continued solid activity in June. Contacts said record-low mortgage rates were driving sales, with the pace of sales higher in the low- to mid-price range.”The Dallas Fed report added, “After a temporary pause, new development activity was picking back up, and contacts noted evaluating new lot/land deals and/or moving forward with planned acquisitions. Outlooks have improved significantly, but there was lingering concern about the demand impact in the fall of a weak labor market, the upcoming election, and virus flare-ups. Multifamily contacts said leasing activity weakened in early to mid-spring due to COVID-19 but has improved since then.”The residential real estate scene within the San Francisco Fed’s district seemed to embody the problems and triumphs of the nation, with moderate increases in residential construction activity, but inventory problems were not erased and prices were being pushed higher.“In Oregon, a large backlog of homeowners wanting to list their home for sale indicated that inventory in some areas may rise in the coming months,” said the San Francisco Fed’s report. “In Idaho and Eastern Washington, observers saw early evidence of buyers moving from higher-cost coastal markets after starting permanent teleworking. A Northern California contact reported that a number of renters were unable to pay rent, while some homeowners were delinquent on mortgage payments.” Subscribelast_img read more

Islanders go to the polls in Donegal SW by-election

first_img Twitter RELATED ARTICLESMORE FROM AUTHOR Previous articleSt Johnston man vows to fight council bid to demolish homeNext article17 year old arrested after police are attacked during Derry alert News Highland Islanders go to the polls in the Donegal South West by-election today, with polling stations on Arranmore, Tory, Gola, Inishfree and Inishboffin opening at 10.30 this morning.Voting will close on Arranmore at 7.30 this evening, and on the other islands at 3 o’clock this afternoon. By News Highland – November 22, 2010 448 new cases of Covid 19 reported today Pinterest Facebook Pinterest Islanders go to the polls in Donegal SW by-election Three factors driving Donegal housing market – Robinson WhatsAppcenter_img Help sought in search for missing 27 year old in Letterkenny Calls for maternity restrictions to be lifted at LUH News Google+ Google+ Facebook NPHET ‘positive’ on easing restrictions – Donnelly WhatsApp Guidelines for reopening of hospitality sector published Twitterlast_img read more

Police in Derry seeking assistance in tracing missing teenager

first_img WhatsApp Calls for maternity restrictions to be lifted at LUH Twitter Pinterest Nine Til Noon Show – Listen back to Wednesday’s Programme LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Police at Strand Road are seeking assistance in locating a 15-year-old youth who is missing in Derry.Jamie Armstrong was last seen at his accommodation at Irish Street shortly before 9pm on Tuesday last.He is described as being five ft 6 and of a slim build.Jamie has fair hair and blue eyes.Inspector Jonny Cooke said police were becoming increasingly worried for Jamie’s well-being.If anyone has seen him, or knows of his current whereabouts, they are asked to call the duty inspector at Strand Road station on the 101 non-emergency number. WhatsApp Facebook Twitter Google+ Three factors driving Donegal housing market – Robinson center_img Police in Derry seeking assistance in tracing missing teenager Google+ Previous articleDonegal Deputy confirms test reports on Mica affected homes in Donegal are being reviewedNext articleOlympians Magee & Reid selected for European Games admin Guidelines for reopening of hospitality sector published Pinterest Facebook GAA decision not sitting well with Donegal – Mick McGrath By admin – April 23, 2015 RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNewslast_img read more

SF to move Dail motion calling for retention of current Child Benefit rates

first_img Need for issues with Mica redress scheme to be addressed raised in Seanad also Pinterest WhatsApp By News Highland – November 26, 2011 Pinterest Google+ SF to move Dail motion calling for retention of current Child Benefit rates Twitter Calls for maternity restrictions to be lifted at LUH Newsx Adverts Google+ Guidelines for reopening of hospitality sector published center_img Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey RELATED ARTICLESMORE FROM AUTHOR WhatsApp Facebook Sinn Fein has published a Dail Private Members Motion calling on the Government to maintain current child benefit rates.The motion will be debated in the Dail next week.One of the budgetary measures being considered is that the Government may cut child benefit by 10 euro a week in the budget next month.Another suggestion is that child benefit should be means tested, but Sinn Fein’s Finance Spokesperson Deputy Pearse Doherty  says it should remain a universal payment…….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/11/pd10.mp3[/podcast] Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleNo Donegal TD’s show for NoWDOC meeting organised by IMPACTNext articleIMPACT disappointed as government TDs fail to attend NoWDOC meeting News Highland last_img read more