The New 21st Century Housing Finance System

first_img Fannie Mae Freddie Mac Housing Finance System Urban Institute 2016-04-15 Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Share Save April 15, 2016 1,078 Views Subscribe 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. About Author: Xhevrije West The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Fannie Mae Freddie Mac Housing Finance System Urban Institute Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img Previous: Mortgage Banking Sector Suffers at PNC Next: DS News Webcast: Friday 4/15/2016 The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Featured, News The New 21st Century Housing Finance System America’s housing finance system is in what some call a “dysfunctional limbo.” Not only is it underperforming, but it is also outdated and in desperate need of a complete revamping among its mission, activities, products, and services.In an essay published by the Urban Institute, James H. Carr, a housing finance, banking, and urban policy consultant and former VP of Housing Research at Fannie Mae, explains how to transform Fannie Mae and Freddie Mac into a new, single corporation.”The basic pillars of our modern housing finance system were enacted in the 1930s during the Great Depression. Since then, there have been major shifts in the US economy, demographic composition, and spatial location of the population,” Carr stated. “These important reconfigurations in our economy and society demand greater intervention and bolder vision than simply attempting to better manage the risks posed by an underperforming and outdated system.”James H. CarrPrior to the housing crisis, the America’s housing finance system suffered from inadequate regulatory oversight, misguided incentive structures, inefficient leveraging of private capital and insufficient risk-sharing arrangements, an unfunded explicit federal guarantee, and inadequate service to diverse market segments, according to Carr.So what’s the fix to an outdated housing finance system? Carr suggests transforming Fannie Mae and Freddie Mac into a new National Housing and Community Investment Corporation (NHCIC).Carr noted that features of the NHCIC include merging Fannie Mae and Freddie Mac into a new government corporation that would continue to perform all the basic mortgage market operations of the current GSEs with some modifications, including the following:Providing an explicit federal guarantee on mortgage-backed securitiesMaintaining catastrophic risk while transferring all noncatastrophic risk to the private sectorMaintaining a portfolio for distressed loans and to aggregate single- and multifamily loans for securitization (but prohibiting the use of that portfolio for investment purposes)Ensuring equal access to lenders of all sizesAdjusting guarantee fees in a way that enables homeownership for creditworthy, lower-income householdsCollecting fees to support access and affordability for homeownership and rental housingMaintaining the Federal Housing Finance Agency as the new corporation’s regulator”These key structural elements ensure a well-functioning mortgage market by more clearly defining the appropriate roles for private versus public capital, improving lender access to the new entity’s securitization platform, shoring up the ability for duty-to-serve requirements to be met, continuing today’s support for rental housing finance, and leveraging the best of the private sector and government with a government corporation structure,” Carr wrote. Home / Featured / The New 21st Century Housing Finance System Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days agolast_img read more

DSNews Webcast: Friday 7/22/2016

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago in Featured, Media, Webcasts  Print This Post Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago DSNews Webcast: Friday 7/22/2016 About Author: Brian Honea July 21, 2016 911 Views Demand Propels Home Prices Upward 2 days ago Previous: Ready, Set, Bid! Competition Heats Up in June Next: Counsel’s Corner: Are Loan Mod Lawsuits Just Stall Tactics? The Best Markets For Residential Property Investors 2 days ago The fifth anniversary can be a large milestone and something to really celebrate, but for the fifth anniversary of The Consumer Financial Protection Bureau (CFPB), which came on Thursday, July 21, the celebration may be premature. Some critics even wonder whether the Bureau as it stands now will be around to celebrate next year.From the Bureau’s initiation, the stated purpose of the CFPB has been protecting consumers in the financial marketplace. But earlier this year, Congress proposed changes for how the Bureau is funded, moving for annual appropriations, as well as changes for the CFPB leadership, calling for a bipartisan commission instead of a single director. As the CFPB begins a new year, plans for progression are the mission of the Bureau. They state that will continue to work on protecting consumers in the financial marketplace and empowering them to make informed financial decisions.Freddie Mac announced the pricing of its third Freddie Mac Whole Loan Securities, which totaled to roughly $348 million of guaranteed senior and non-guaranteed subordinate actual loss securities. Kevin Palmer, senior vice president of Freddie Mac Credit Risk Transfer said quote We are pleased to bring our third WLS transaction to market and have seen strong investor. We expect to be a regular issuer of WLS going forward. Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe 2016-07-21 Brian Honea Demand Propels Home Prices Upward 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Home / Featured / DSNews Webcast: Friday 7/22/2016last_img read more

Record Highs in Price Appreciation Might Not Be Sustainable

first_img Previous: Why is Miami Ranked Among Weakest Markets? Next: CFPB: One Million Complaints Handled and Counting in Daily Dose, Featured, News Subscribe Tagged with: Case-Shiller CoreLogic home price appreciation Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The current pace of home price appreciation, considering that inflation is below the Federal Reserve’s target rate of 2 percent, is probably not sustainable, but the housing market is not in immediate danger of collapse similar to 2008, according to the S&P CoreLogic Case Shiller National Index for July 2016 released Tuesday.The index is just above half a percentage point from its all-time high—reached in 2006 during the bubble—and home prices appreciated by 5.1 percent over-the-year in July, slightly higher than June’s pace of 5.0 percent. The three cities with the highest over-the-year home price appreciation in July were Portland (12.4 percent), Seattle (11.2 percent), and Denver (9.4 percent).“The S&P CoreLogic Case Shiller National Index is within 0.6 percent of the record high set in July 2006,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “Seven of the 20 cities have already set new record highs. The 10-year, 20-year, and National indices have been rising at about 5 percent per year over the last 24 months. Eight of the cities are seeing prices up 6 percent or more in the last year. Given that the overall inflation is a bit below 2 percent, the pace is probably not sustainable over the long-term. The run-up to the financial crisis was marked with both rising home prices and rapid growth in mortgage debt. Currently, outstanding mortgage debt on one-to-four family homes is 12.6 percent below the peak seen in the first quarter of 2008 and up less than 2 percent in the last four quarters. There is no reason to fear that another massive collapse is around the corner.”CoreLogic’s Home Prices Insights Report for July reported a slightly higher increase in home prices year-over-year, at 5.4 percent excluding distressed sales (6.0 percent including distressed sales). That report stated that home prices are expected to appreciate at a rate of about 5 percent over the next year.“If mortgage rates continue to remain relatively low and job growth continues, as most forecasters expect, then home purchase are likely to rise in the coming year,” CoreLogic chief economist Dr. Frank Nothaft said. “The increased sales will support further price appreciation.”Since the last rate hike by the Fed in December, which was the first in nine years, mortgage rates have plummeted to near record lows. Analysts are forecasting that the economy will have shown enough gains to warrant another rate hike by the Fed in its December meeting.Mortgage rates are expected to stay low for the near term following such an action by the Fed. But what effect would it have on home price appreciation?“Both the housing sector and the economy continue to expand with home prices continuing to rise at about a 5 percent annual rate,” Blitzer said. “The statement issued last week by the Fed after its policy meeting confirms the central bank’s view that the economy will see further gains. Most analysts now expect the Fed to raise interest rates in December. After such Fed action, mortgage rates would still be at historically low levels and would not be a major negative for house prices.”Click here to view the complete S&P CoreLogic Case Shiller Index.Click here to view the complete CoreLogic Home Price Insights Report. About Author: Kendall Baer Case-Shiller CoreLogic home price appreciation 2016-09-27 Kendall Baer Home / Daily Dose / Record Highs in Price Appreciation Might Not Be Sustainable Sign up for DS News Daily Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Record Highs in Price Appreciation Might Not Be Sustainablecenter_img  Print This Post September 27, 2016 1,110 Views 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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 Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Recognizing the Top Women of Housing

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Related Articles in Daily Dose, Featured, News award Five Star Institute Homeownership HOUSING mortgage women 2018-05-04 Radhika Ojha Tagged with: award Five Star Institute Homeownership HOUSING mortgage women Servicers Navigate the Post-Pandemic World 2 days ago Recognizing the Top Women of Housing Sign up for DS News Daily Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago May 4, 2018 1,817 Views 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. center_img Previous: Robert Klein, In Memoriam: The Industry Remembers an Icon Next: Unlocking the Future of Property Preservation Share Save On May 1, The Five Star Institute opened the nominations for the inaugural Women in Housing Leadership Awards, which aims to recognize the tireless efforts and leadership of the women who are shaping the housing industry. The award recipients will be announced at the Women in Housing Leadership Awards Banquet on September 18, 2018, at the Five Star Conference and Expo. The nominations were opened for industry peers to submit their pick of women colleagues or associates for this award. “The Women in Housing Leadership Awards recognize women whose efforts have had a powerful and positive impact on the industry, as well as women who have worked tirelessly to promoted the American Dream of homeownership,” said Rachel Williams, Editor-in-Chief of Publications at the Five Star Institute. “I look forward to many industry professionals coming nominating their women colleagues and associates for this honor and covering both the nominees and award recipients in the pages of MReport magazine. ”The inaugural Women in Housing Awards features five distinct categories—The Rising Business Leader Award, The Cultural Leader Award, The Community Leadership Award, The Diversity & Inclusion Award, and the Laurie A. Maggiano Legacy Award. The nominations close on July 2 and the award finalists will be announced in the September 2018 issue of MReport magazine. The recipients of these awards will be announced live at the Women in Housing Leadership Awards Banquet hosted during the Five Star Conference, as well as featured in the October 2018 issue of MReport. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Recognizing the Top Women of Housing About Author: Radhika Ojha The Best Markets For Residential Property Investors 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 agolast_img read more

What Makes the Perfect Neighborhood?

first_img in Daily Dose, Featured, Journal, Market Studies, News Sign up for DS News Daily Related Articles Servicers Navigate the Post-Pandemic World 2 days ago What Makes the Perfect Neighborhood? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Tech Hubs Attract Employee Migration Next: The Week Ahead: A Snapshot of Home Price Trends About Author: David Wharton 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 ago Servicers Navigate the Post-Pandemic World 2 days ago What are Americans looking for when it comes to finding the perfect neighborhood to call home? Ally Home, the direct-to-consumer mortgage arm of Ally Finance, conducted a survey of more than 2,000 people in order to dive deeper into what they are looking for in both a home and a neighborhood. Of those surveyed, nearly nine out of 10 people (88 percent) said the “vibe” of an area was important in choosing where to live, with half of those (49 percent) respondents categorizing it as “very important.”Moreover, nearly three quarters (73 percent) of those surveyed said they would consider settling for a smaller house than they wanted and/or pay a little more if the surrounding neighborhood appealed to them. Eighty percent of those surveyed said their ideal local needed to match their personality, and 82 percent said they would consider moving if the neighborhood vibe didn’t mesh with what they wanted.But what type of area matches those desired ideals? Thirty-six percent of those surveyed said they wanted a “quiet, quaint” area with “curb appeal, lots of friendly people, and less of a concern to lock the doors.” Twenty-eight percent of respondents were looking for more of a “modern millennial” kind of locale—one “where they can walk to everything, with reasonably priced bars, restaurants, and coffee shops nearby.”Outdoor space was also cited as an important concern for potential homebuyers. A quarter of those surveyed said they wanted a neighborhood close to “organic farms, farmers’ markets, and hiking trails,” whereas 21 percent said they were seeking a “family centric” location, where “families live in close proximity to one another and are close to schools and playgrounds.Click below to watch Ally’s “man on the street” interviews with people discussing what they’re looking for in an ideal neighborhood.Video Playerhttp://dsnews.com/wp-content/uploads/2018/06/ally_NeighborhoodVibes_1280x720_PRNewswire.mp400:0000:0002:18Use Up/Down Arrow keys to increase or decrease volume. Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago June 3, 2018 2,071 Views David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected]  Print This Post Home / Daily Dose / What Makes the Perfect Neighborhood? Ally Home Homebuyers Millennial Homebuyers Neighborhoods 2018-06-03 David Wharton Tagged with: Ally Home Homebuyers Millennial Homebuyers Neighborhoods Subscribe The Best Markets For Residential Property Investors 2 days ago Share Savelast_img read more

The Rising Risk of Defaults in Refis

first_imgSubscribe American Enterprise Institute FHA Finance GSEs Home Prices Homes HOUSING loans mortgage nmri refis Risk 2018-07-30 Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News, Secondary Market Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago July 30, 2018 2,728 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: American Enterprise Institute FHA Finance GSEs Home Prices Homes HOUSING loans mortgage nmri refis Risk Share 1Save About Author: Radhika Ojha Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days agocenter_img Previous: Investigation Into Mel Watt Allegations Underway Next: Michigan Residents Get Foreclosure Relief 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. The Rising Risk of Defaults in Refis Refinance loans have a higher stressed default rate compared to any other loan, according to the latest National Mortgage Risk Index (NMRI) released by the American Enterprise Institute’s (AEI) Center on Housing Markets and Finance on Monday. The reasons for this increase in default rates, the Center said, was primarily due to weak appraisal processes for these loans as well as borrower self-selection.The quarterly index monitors market stability through real-time tracking of leverage and is set up like a stress test that places loans in risk buckets and assesses default risk based on the performance of 2007 vintage loans with similar characteristics.Overall, the NMRI indicated that three key drivers are pushing mortgages towards greater risk. First, a greater availability of income leverage that is allowing borrowers to compensate for home price appreciation; second, a shift toward lower down payment loans; and third a greater presence of cash out refis as tappable equity of homeowners increases.According to AEI, the April refinance NMRI set an all-time series’ high driven by a leap in the Cash-out index. “With the national seller’s market now in its 70th month, this additional leverage is being absorbed into higher house prices,” the report said. “The multiyear surge in home prices, particularly for entry-level homebuyers continues unabated and is fueled by high-risk mortgages guaranteed by taxpayers,” noted Edward Pinto, Co-Director of the AEI’s Center on Housing Markets and Finance.  “We see no halt to this trend so long as FHA, the GSEs, and the VA continue offering easy mortgage credit terms which keep demand well more than supply.”The report also indicates a considerable spread of default rates across risk buckets, with borrowers who had a credit score between 620 and 689 falling in the high to very high-risk buckets. Borrowers in this credit score range were likely to have a default rate between 22.7 percent and 45.8 percent, the report indicated.For purchase loans, the NMRI found, credit easing continued with the composite NMRI for purchase loans jumping 0.5 points from its elevated levels a year ago. The first-time buyer index rose 0.6 points on increases in FHA loans. AEI said that the rising prices had a disparate impact on buyers, benefiting repeat buyers through price appreciation and hurting first-time buyers who had to take on more leverage.“Leverage matters for house prices,” said Tobias Peter, Senior Research Analyst at AEI’s Center on Housing Markets and Finance. “The greater availability of plain-vanilla leverage for lower-income borrowers during the current seller’s market has inflated a house price boom that is most prevalent at the lower end of the price spectrum.”The AEI said that the composite index was consistently trending up since mid-2013, with FHA leading the way. With FHA, Fannie, and VA indices all setting new or matched series highs in April, the report projected that unless household income accelerated, future support for the housing market was likely to involve further increases in leverage from an already high level. Governmental Measures Target Expanded Access to Affordable Housing 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 Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Home / Daily Dose / The Rising Risk of Defaults in Refis Sign up for DS News Daily last_img read more

Making Sense of Home Sales

first_imgHome / Daily Dose / Making Sense of Home Sales Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago Making Sense of Home Sales Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Tagged with: Home Sales Inventory NAR Prices Video Spotlight Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February saw a minor drop in pending home sales. In this video spotlight, National Association of Realtors Chief Economist Lawrence Yun discusses how to make sense of the decline.“In January, pending contracts were up close to 5 percent, so this month’s 1 percent drop is not a significant concern,” Yun said. “As a whole, these numbers indicate that a cyclical low in sales is in the past but activity is not matching the frenzied pace of last spring.”According to Yun, sales in the West are below 2018’s activity depite recent growth.“There is a lack of inventory in the West and prices have risen too fast,” Yun stated. “Job creation in the West is solid, but there is still a desperate need for more home construction.”Watch the video here. Demand Propels Home Prices Upward 2 days agocenter_img Previous: Facebook vs. the Fair Housing Act? Next: Three Indicators Impacting Housing The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Subscribe  Print This Post March 28, 2019 905 Views Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Investment, Market Studies, News About Author: Seth Welborn Home Sales Inventory NAR Prices Video Spotlight 2019-03-28 Seth Welbornlast_img read more

Wells Fargo CEO Search Narrows

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Subscribe in Daily Dose, Featured, Investment, News June 6, 2019 1,018 Views Wells Fargo is considering interim CEO Allen Parker as the permanent CEO, CNBC reports, despite announcements from Wells Fargo that the bank will be considering external candidates for CEO. CNBC’s sources state that “Parker’s two years at the bank have given him enough understanding of lingering problems to fix them quickly.”Parker took over as interim CEO following former CEO Tim Sloan’s announcement in March that he will retire, less than three years into his tenure running the bank. Sloan will step down at the end of June.According to Bloomberg, directors have asked senior executives for input on their CEO search, and some are lobbying for Parker to stay on as CEO, according to people familiar with the discussions.“Although I do not know Allen well personally, I do know that he’s very highly regarded both internally and externally, especially in legal and regulatory matters,” former Wells Fargo CEO and Chairman Richard Kovacevich said in an interview with Bloomberg.Wells Fargo previously stated that they will be considering only external candidates, though some have noted that Parker might count as an “outsider.” Morningstar Inc. analyst Eric Compton called Parker part of the “new wave.”“The main thing the market wants is someone who’s going to get the regulators off their backs and also take care of the asset cap pretty quickly,” Compton said.Berkshire Hathaway CEO Warren Buffett recently weighed in on the search, suggesting that Wells Fargo should consider candidates from not just outside Wells Fargo, but outside of Wall Street.“They just have to come from someplace (outside Wells) and they shouldn’t come from Wall Street. They probably shouldn’t come from JPMorgan or Goldman Sachs,” Buffett told the Financial Times.“There are plenty of good people to run it (from the Wall Street banks), but they are automatically going to draw the ire of a significant percentage of the Senate and the U.S. House of Representatives, and that’s just not smart,” Buffett stated. Previous: Trends in Homeowner Equity Next: Gateway First Bank Adds New CCO  Print This Post Tagged with: Banking CEO Wells Fargo Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Banking CEO Wells Fargo 2019-06-06 Seth Welborn The Best Markets For Residential Property Investors 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Wells Fargo CEO Search Narrows 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 The Best Markets For Residential Property Investors 2 days ago 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. About Author: Seth Welborn Wells Fargo CEO Search Narrows Demand Propels Home Prices Upward 2 days ago Share Savelast_img read more

The Week Ahead: Measuring Delinquencies and Foreclosures

first_img About Author: Seth Welborn October 4, 2019 1,328 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post On Tuesday, CoreLogic will release its latest Loan Performance Insight Report. According to CoreLogic’s previous report, for June 2019, the 30 days or more delinquency rate was 4%, a 0.3% year-over-year decline from June 2018’s rate of 4.3%.”A strong economy and eight-plus years of home price growth have made mortgage foreclosure an infrequent event,” said Frank Nothaft, Chief Economist for CoreLogic. “This backdrop will help the mortgage market limit delinquencies in most of the country whenever a downturn should start.”Despite the record low delinquency rates, several states and metropolitan areas posted small annual increases in June. The highest gains were in Vermont (+0.7%), New Hampshire (+0.3%), Nebraska (+0.2%) and Minnesota (0.2%), while the other four states, Michigan, Iowa, Wisconsin and Connecticut, experienced a nominal gain of just 0.1%.”While the nation continues to post near-record-low mortgage delinquency rates, we are seeing signs of emerging stress in some states,” said Frank Martell, President and CEO of CoreLogic. “We saw rates jump in states such as Vermont, New Hampshire, Nebraska and Minnesota that weren’t tied to a natural disaster.”Additionally, the foreclosure inventory rate was 0.4% in June 2019, down 0.1% from June 2018, while serious delinquency rates declined in every state except Minnesota, Nebraska, North Dakota and Virginia, which stayed the same.By CBSA, there were 20 metropolitan areas where the serious delinquency rate increased, and 48 metropolitan areas where the serious delinquency rate remained the same. All the remaining metropolitan areas saw the serious delinquency rate decrease.The share of mortgages that transitioned from current to 30-days past due was 1.1% in June 2019, up from 0.9% in June 2018. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2% and peaked in November 2008 at 2%.Here’s what else is happening in The Week Ahead: Black Knight Mortgage Monitor (October 7) Fannie Mae Home Purchase Sentiment Index (October 7) Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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 The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Week Ahead: Measuring Delinquencies and Foreclosures Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago 2019-10-04 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Previous: The Diversity Imperative Next: National Bankruptcy Services Adds New VPs The Week Ahead: Measuring Delinquencies and Foreclosures Subscribelast_img read more

Wells Fargo Partners with Habitat for Humanity

first_img About Author: Seth Welborn  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Previous: Housing Report Shows ‘Good News is Actually Good News’ Next: FHFA Issues Update on GSE Guarantee Fees Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 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. Wells Fargo Partners with Habitat for Humanity Demand Propels Home Prices Upward 2 days ago Subscribe Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Home / Daily Dose / Wells Fargo Partners with Habitat for Humanity Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Loss Mitigation, News Tagged with: Habitat Revitalization Wells Fargo The Best Markets For Residential Property Investors 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 Wells Fargo is partnering with Habitat for Humanity on a number of revitalization and housing assistance programs, including those aimed at keeping homeowners in their homes. In 2019, Wells Fargo donated $10.7 million directly to local Habitat organizations and has committed $89.4 million to Habitat for Humanity since 2010. Wells Fargo has also pledged to donate $1 billion to address the housing affordability crisis over the next six years.“Housing affordability is a major issue affecting communities across the U.S., as far too many families struggle with the burden of paying half or more of their household incomes to keep a roof over their heads,” said Brandee McHale, head of corporate philanthropy at Wells Fargo. “As we work together to create innovative solutions, we are also focused on revitalizing existing housing inventory by supporting advocacy work such as Cost of Home and projects like CAPABLE, which preserves dignity for seniors as they age in place.”Habitat’s CAPABLE Program is designed to keep older homeowners in their homes through home repairs ranging from minor fixes to major repairs, such as roof repairs and plumbing.Part of the partnership will also include neighborhood revitalization, as Wells Fargo team member volunteers will work alongside residents in five communities in California, Colorado, Pennsylvania, South Carolina and Virginia on projects, including making repairs to existing homes and constructing new homes on abandoned lots.Wells Fargo will also be supporting Habitat’s Cost of Home campaign, which seeks to find solutions and help create policies through volunteers, community members and partners throughout the U.S.“Having generous partners like Wells Fargo is so important as we work to help families and communities improve their shelter conditions,” said Julie Laird Davis, Habitat’s VP of corporate partnerships and cause marketing. “We are so grateful for the Wells Fargo partnership and the impact that will be made across the country.” December 19, 2019 3,564 Views Habitat Revitalization Wells Fargo 2019-12-19 Seth Welborn Share Savelast_img read more