Housing Alliance Targeting Slow Recovery Areas for Loss Mitigation Outreach Events

first_img Housing Alliance Targeting Slow Recovery Areas for Loss Mitigation Outreach Events  Print This Post About Author: Brian Honea April 27, 2015 1,635 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Areas of the country that have been slow to recover from the recession will be the focus of HOPE NOW’s outreach efforts to offer loss mitigation options to struggling homeowners in 2015, according to an announcement from HOPE NOW.HOPE NOW is an alliance between counselors, mortgage companies, investors, and other mortgage market participants, formed in 2007. The alliance’s outreach events put homeowners face to face with servicers and counselors to work out a loss mitigation solution and avoid foreclosure. These outreach events are also an opportunity to learn more about local housing task force efforts and state programs that offer assistance. The next HOPE NOW outreach event will be May 27 in Chicago.”Our industry members comprehensively review all at-risk families for multiple options, when going through the loss mitigation process, and attempt to apply the most viable solution for each situation,” said Eric Selk, Executive Director of HOPE NOW. “Although the housing market has made a recovery on a national level, there are still pockets of the country experiencing a slower recovery and that has been the focus of HOPE NOW’s efforts in 2015.”Selk said they have seen a great deal of repair in many of the markets HOPE NOW has visited in the past, such as San Bernardino in Southern California. A HOPE NOW outreach event in San Bernardino in 2010 brought out about 700 families; by comparison, an outreach event in San Bernardino in March 2015 drew only about 300.”The reason for lower attendance is twofold – lower delinquency numbers across the board and more homeowners already in some stage of the loss mitigation process,” Selk said. “Despite the shifting dynamic of outreach events, our members are still committed to the face to face component as part of their overall outreach strategy.”HOPE NOW is also planning an outreach event in June in St. Louis, though no date is set yet.”There are plans to bring servicers together with non-profit partners in several other cities in 2015 as well,” Selk said. “HOPE NOW also continues to work with members on initiatives related to mortgage originations, abandoned properties and neighborhood stabilization.”HOPE NOW reported 147,000 non-foreclosure solutions offered by the industry to struggling homeowners in February 2015, including permanent loan modifications, short sales, and deeds-in-lieu of foreclosure. February’s total of non-foreclosure solutions was more than five times the number of completed foreclosures for the month (28,000). Since HOPE NOW began reporting the data in 2007, the number of non-foreclosure solutions offered by the industry total approximately 23.5 million. 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. Tagged with: HOPE NOW Loss Mitigation Non-foreclosure solutions Outreach Events Share Save Subscribe 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 agocenter_img HOPE NOW Loss Mitigation Non-foreclosure solutions Outreach Events 2015-04-27 Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: DS News Webcast: Monday 4/27/2015 Next: Analyst Says Buying a Home Now Is a Solid Investment Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Loss Mitigation, News Home / Daily Dose / Housing Alliance Targeting Slow Recovery Areas for Loss Mitigation Outreach Events Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

Fresh Off RMBS Deal of the Year Award, Fifth STACR of 2015 Priced at $950 Million

first_img Fresh Off RMBS Deal of the Year Award, Fifth STACR of 2015 Priced at $950 Million Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Credit Risk Transfer Freddie Mac RMBS STACR Structured Agency Credit Risk 2015-06-15 Brian Honea Subscribe Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / Fresh Off RMBS Deal of the Year Award, Fifth STACR of 2015 Priced at $950 Million Share Save Less than one week after Freddie Mac’s Structured Agency Credit Risk (STACR) debt notes received the RMBS Deal of the Year award from Global Capital, Freddie Mac announced the pricing of the fifth STACR offering of 2015 on Monday.The latest STACR debt notes offering, 2015-DNA2, was priced at $950 million (pending market conditions), making it the second-highest total for a STACR offering this year. The third offering was originally announced in April at $720 million but shortly increased up to $1.01 billion due to market demand. Freddie Mac expects to make eight STACR offerings overall in 2015.The 2015-DNA2 offering will be Freddie Mac’s second offering in which losses will be allocated based on actual losses realized on the related reference obligations rather using a fixed severity approach to allocate losses (the first such transaction for Freddie Mac occurred in May, priced at $425.6 million). The reference pool of single-family mortgages for Series 2015-DNA2 includes loans originated from August to November 2014 with an aggregate UPB of more than $31.9 billion.Co-lead managers and joint bookrunners for the transaction are Merrill Lynch, Pierce, Fenner & Smith, and JPMorgan Securities. The approximate date for when the offering will settle is June 29, 2015. Freddie Mac holds the senior loss risk in the reference pool as well as a portion of the risk for Class M-1, M-2, M-3 and the first loss Class B tranche; the M-1, M-2, M-3, and MACR classes are rated by Kroll Bond Ratings Agency and Moody’s.Freddie Mac transfers a portion of credit risk on certain single-family loans to private investors using the STACR program and has led the market in introducing new risk-sharing initiatives in the last two years. Since initiating the program in 2013, Freddie Mac has laid off a portion of credit risk on more than $281 billion in unpaid principal balance for single-family mortgages through 13 STACR offerings and seven Agency Credit Insurance Structure (ACIS) transactions. More than one million loans have been represented in those transactions.The STACR offerings have received two major awards in the last two years; apart from Friday’s announcement of receiving the RMBS Deal of the Year award from GlobalCapital, STACR received the Global Structured Deal of the Year Award from GlobalCapital’s parent company, Euromoney, in 2014. Kevin Palmer, VP of Credit Risk Transfer at Freddie Mac, said the Enterprise is “proud of our role in leading market innovations that return value to the nation and move housing forward.” Related Articles Previous: HUD Widely Praised For Amending HECM Program, Helping Seniors Avoid Foreclosure Next: Freddie Mac Lays Out Importance of a Consumer’s Credit Score in Homebuying Tagged with: Credit Risk Transfer Freddie Mac RMBS STACR Structured Agency Credit Risk Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, Secondary Market Data Provider Black Knight to Acquire Top of Mind 2 days ago June 15, 2015 1,049 Views The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Sixth Circuit Court Denies Petition for Rehearing in Promissory Note Transfer Case

first_img Tagged with: Lawsuits MERS MERSCORP Holdings Promissory Note Transfer The Best Markets For Residential Property Investors 2 days ago Share Save Subscribe Servicers Navigate the Post-Pandemic World 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. Lawsuits MERS MERSCORP Holdings Promissory Note Transfer 2015-09-11 Brian Honea September 11, 2015 1,300 Views About Author: Brian Honea Previous: Investors Gravitating Toward New Homes for Single-Family Rental Market Next: Relationship Between Slow Economic Growth and Income Inequality is Tenuous Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The U.S. Sixth Circuit Court of Appeals on Friday denied an en banc rehearing of a case in Kentucky that held that recording statutes in the state do not require a recording in the land records when promissory notes are transferred, according to an announcement from MERSCORP Holdings.The Sixth Circuit Court denied two petitions to rehear Higgins v BAC Home Loans Servicing, a case in which the plaintiffs were Kentucky landowners who obtained loans in exchange for promissory notes secured by mortgages on their properties. Mortgage Electronic Registration System (MERS) was named as the mortgagee on each mortgage deed. MERS remained the mortgagee when the original noteholders and their assignees (all members of MERSI) transferred the notes to the defendant, BAC Home Loans Servicing, which is also a member of MERS.According to the court ruling, when BAC accepted transfer of the notes, by operation of Kentucky law it acquired equitable interests in the mortgages securing the notes. BAC did not record their acquisitions of equitable interests in the mortgages with county records offices and the plaintiffs subsequently filed a complaint in the U.S. District Court for the Eastern District of Kentucky at Lexington, alleging that “transfer of the notes was an assignment of the underlying mortgages for purposes of Kentucky’s recording statutes,” according to the filing.”We’re pleased that the United States Sixth Circuit Court of Appeals held firm in its decision that the Kentucky recording statues do not require that promissory notes be recorded.”The district court originally ruled in favor of the plaintiffs, but the Sixth Circuit court reversed the district court’s decision. The Sixth Circuit Court ruled that BAC did not violate Kentucky law because they transferred only promissory notes, which are not required to recorded by law in Kentucky, and they did not fail to record any transfers of mortgage deeds.The Sixth Circuit Court on Friday denied two petitions to rehear the case, saying that “the original panel has reviewed the petitions for rehearing and concludes that the issues raised in the petitions were fully considered upon the original submission and decision of the cases.” The petitions had been circulated to the full court and no judge had requested a vote on the suggestion of an en banc rehearing; hence the two petitions were denied.”We’re pleased that the United States Sixth Circuit Court of Appeals held firm in its decision that the Kentucky recording statues do not require that promissory notes be recorded,” MERSCORP Holdings VP for Corporate Communications Janis Smith said.Click here to view the entire court ruling.This is the fourth major court victory for MERS in just a little more than a month. In early September, a district court in Collin County, Texas, granted a motion for summary judgment in the favor of MERS and reinstated a MERS lien that had previously been extinguished. In mid-August, the U.S. District Court for the Middle District of Tennessee Nashville Division dismissed a lawsuit that challenged MERS’ role in a deed of trust in Tennessee. In early August, MERS was awarded a victory in the U.S. Court of Appeals for the Third Circuit, which ruled that MERS was not duty-bound by the Pennsylvania recording statute to record all land conveyances. Data Provider Black Knight to Acquire Top of Mind 2 days ago Sixth Circuit Court Denies Petition for Rehearing in Promissory Note Transfer Case Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Sixth Circuit Court Denies Petition for Rehearing in Promissory Note Transfer Case in Daily Dose, Featured, Newslast_img read more

Why RE/MAX Delayed its Earnings Results

first_img Tagged with: earning results HOUSING mortgage RE/MAX Home / Daily Dose / Why RE/MAX Delayed its Earnings Results The Best Markets For Residential Property Investors 2 days ago Share Save  Print This Post The Best Markets For Residential Property Investors 2 days ago About Author: Nicole Casperson in Daily Dose, Featured, Headlines, Market Studies, News Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: nicole.casperso[email protected] earning results HOUSING mortgage RE/MAX 2017-11-02 Nicole Casperson Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 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 Why RE/MAX Delayed its Earnings Results Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 2, 2017 1,659 Views Subscribe On Thursday, RE/MAX Holdings, Inc., the parent company of RE/MAX, announced its delaying Q3 2017 earnings results and conference call amidst internal investigation regarding Co-CEOs Dave Liniger and Adam Contos. According to a release by RE/MAX Holdings, In October 2017, the Board of Directors appointed a special committee of independent directors, (Special Committee), to investigate “allegations concerning actions of certain members of the company’s senior management including an allegation of a previously undisclosed loan of personal funds from David L. Liniger, the company’s Co-CEO and Chairman, to Adam M. Contos, the Company’s Co-CEO.” The report attributes the investigation to allegations of wrongdoing in employment practices and conduct—matters that could constitute violations of the company’s codes of ethics, business conduct, and policies.   Despite the investigation, RE/MAX “remains confident in its strategy and long-term business plan.” Reporting that the company’s total agent count grew year-over-year by 5.7 percent to 117,568 agents as of September 30, 2017. The company also reported that it expects to achieve its previously announced revenue guidance for the quarter ended September 30, 2017. Although, waiving approximately $1.7 million of certain fees for hurricane-impacted associates during Q3.  The release notes that the investigation by the Special Committee is ongoing and the company is currently unable to predict the outcome or the timing of its completion. “The Company is working diligently on this matter and will, as soon as practicable, make a further announcement regarding the updated timing of the third quarter earnings release and conference call to review financial results for the quarter ended September 30, 2017.” Previous: Mortgage Assistance: Organizations Reached Out for Borrower Relief Next: Government Backstop Necessary for Sustainable Mortgage Market? Related Articleslast_img read more

The Cost of GSE Reform

first_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Secretary Carson Restates HUD Commitment to Fair Housing Next: States Trying to Circumvent Federal Property Tax Changes A new analysis by Zillow determined that proposed reforms to the GSEs, Fannie Mae and Freddie Mac, may increase monthly payments for borrowers by up to $400 a month.The changes being considered by Congress are intended to reduce taxpayer risk in the event of another market crash. Fannie and Freddie have been under government conservatorship since September 6, 2008, following the housing crisis. However, Zillow’s analysis shows the changes may decrease housing affordability as borrowers face shorter loan durations and higher rates.”Some GSE reform proposals could lead to the end of the 30-year mortgage as we know it, which has long been the bedrock for financing homeownership in America,” said Zillow Senior Economist Aaron Terrazas. “If monthly payments do rise and, more importantly, stay elevated, at some point we’d expect home prices to come down a bit in response to this decreased purchasing power, and some long-time owners could opt not to sell to preserve their smaller monthly payments.”Borrowers seeking alternatives to the 30-year mortgage may face increases in their monthly rates by as much as $400 as they move from a 30-year loan to a 15-year fixed-rate mortgage. Additionally, 30-year non-conforming loans, which are not guaranteed by the GSEs, would cost borrowers around $20 more per month.“A shorter loan period would mean the lifetime cost of the home is lower, and some households may be able to absorb the extra monthly cost on their mortgage,” said Terrazas. “But in the nearer term, first-time homebuyers or buyers on the margin could feel a real pinch as homeownership becomes significantly less affordable.”Zillow notes that until these changes are officially signed into law, there is now way to know for certain how GSE reform will impact borrowers. The Cost of GSE Reform Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Conservatorship Fannie Mae Freddie Mac GSE Reform GSEs market 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 Conservatorship Fannie Mae Freddie Mac GSE Reform GSEs market 2018-03-10 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img About Author: Seth Welborn in Daily Dose, Featured, Government, Headlines, Journal, Market Studies, News Demand Propels Home Prices Upward 2 days ago Related Articles Home / Daily Dose / The Cost of GSE Reform The Best Markets For Residential Property Investors 2 days ago March 10, 2018 2,253 Views 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. Share Save Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Subscribelast_img read more

Maintaining Middle-Income Housing Supply

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Journal, Market Studies, News  Print This Post Previous: Rising Rates, Squeezed Supply Have Housing Industry’s Attention Next: Five Minutes With: Brian Grow, President, Morningstar Credit Ratings The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Maintaining Middle-Income Housing Supply April 13, 2018 2,230 Views Tagged with: Affordability Home Prices inventory shortages low-income housing middle-income housing Rent prices Single Family Rental Much of the discussion about housing trends of late has focused on the highs and lows. On the upper end of things, home prices are booming and not likely to come down soon. Unfortunately, that trend, combined with nationwide housing inventory shortages and increasing rent prices, has made things difficult for lower-income consumers. But what about the housing requirements of those who fall between those two extremes? A new California bill is designed to address the needs of the “missing middle.”California is home to some of the priciest markets in the country, so living in the state as a middle- or lower-income worker can often mean commuting a long way because home prices near your job are unaffordable. First introduced in February 2018 by Assemblyman David Chiu (D-San Francisco) and Assemblyman Ash Kalra (D-San Jose), Assembly Bill 3152 would grant property tax exemptions to nonprofit housing developers who rent homes in high-cost areas to middle-income renters at a discount. The property tax discount is similar to one that already applies to lower-income rental housing.Assemblyman Chiu told the Santa Cruz Sentinel, “During the housing crisis, middle-income Californians are in a very tough spot. They don’t qualify for low-income affordable housing, but also can’t afford market rents.”According to the June 2016 California Apartment List Rent Report, California rental prices have been trending well above the national average since around May 2015. Nor is it just a California problem. A November 2017 Apartment List study reported that nearly half of U.S. renters are “cost burdened,” spending 30 percent or more of their income on rent. When you factor in the massive student debt many Americans are carrying, the path to homeownership becomes elusive. That begs the question—if there simply isn’t enough rental stock to accommodate demand, where does that leave the middle-income consumer who isn’t ready to purchase a home, or simply doesn’t desire to?“It’s encouraging to see the California legislature focusing on tax credits intended to help the middle-income renter and not just homeowners,” Beth O’Brien, CEO of CoreVest Finance, told DS News. “It’s a clear recognition on how important this segment of the housing stock is to the workforce.  Over time I’d like to see programs like this geared towards a broader group of market participants so that it can have a greater impact on housing investment, but this is a good start.”Will bills such as California’s Assembly Bill 3152 help ease the pain? Only time will tell. About Author: David Wharton Related Articles Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Home / Daily Dose / Maintaining Middle-Income Housing Supply Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Affordability Home Prices inventory shortages low-income housing middle-income housing Rent prices Single Family Rental 2018-04-13 David Wharton Demand Propels Home Prices Upward 2 days agolast_img read more

Working Toward a More Diverse Mortgage Industry

first_imgDiversity and inclusion have become one of the most pressing topics in the industry. From promoting equal access to housing and creating a more diverse workforce, the mortgage industry is adapting to changing demographics in both workforce and customer base. This May The Five Star Institute welcomes the industry’s leading minds to New Orleans, Louisiana, for focused discussions and education on these topics at the 2020 Diversity Symposium, happening May 6-7, at the historic Hotel Monteleone. Last year’s event, held in Dallas, Texas, featured participants from Bank of America, Fannie Mae, Mr. Cooper, Ocwen Financial Corporation, the American Mortgage Diversity Council, the AARP’s Public Policy Institute, and more. This year’s event is positioned to be even more impactful, and offers the potential for industry thought leaders to showcase both their own insights and lessons taken away from their organization’s own D&I efforts.Five Star is currently accepting speaker submissions for the Converge event. You can submit a proposal for potential speakers by clicking this link. Potential topics for discussion include, but are not limited to:generational differencesresolving unconscious biascultural transformation the competitive advantage of diversitydiversity and cultural competencebranding diversity and inclusioncultural sensitivity in the workplaceprevention of sexual harassmentdesigning a diversity infrastructure ​​spirituality in the workplaceinclusive leadershipcreating an inclusive, high-performance organizationexecutive self-assessmentthe power of collaborationinternal diversity programs and events Sign up for DS News Daily in Daily Dose, Featured, News Speaking to MReport during last year’s event, Sheri Crosby Wheeler, VP Corporate Social Responsibility at Mr. Cooper, said, “It is important for diversity practitioners and those for which diversity and inclusion is a strategic business objective to come together and learn from each other’s differences and new ways to advance diversity and inclusion in the workplace and the marketplace.”“There is now an expectation that leaders demonstrate their commitment to diversity and inclusion as it has become more normalized in business,” said Charmaine Brown, Director in the Office of Minority and Women Inclusion at Fannie Mae. “The Symposium offers the opportunity to engage with leaders on relevant issues, that quite frankly are a result of the progress we’ve made, particularly in terms of diversity. I hope to go deeper, expand the conversation to recognize its broader than race, gender, etc., and to learn from participants about what’s working in their organizations and where we can do better.”Nickalene Badalamenti-Kalas, acting President of Five Brothers Asset Management Group, said the company has a significant LGBTQ and transgender population within the company, and a strong focus on ensuring that those employees need to be “treated as though they’re not different.”“People need to feel like they belong, and so we don’t dwell on it,” she continued. “We just do what we do. You come to work, you do your job, and you acknowledge the people for or who they are and what they do.”You can learn more about Converge at the official website, or click here to register now. December 12, 2019 873 Views The Best Markets For Residential Property Investors 2 days ago Tagged with: Diversity and Inclusion About Author: Mike Albanese Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Working Toward a More Diverse Mortgage Industry Previous: Preparing for Debt and Delinquency Shifts in 2020 Next: Home Equity Increases Signal Positive Investment Future Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Working Toward a More Diverse Mortgage Industry The Best Markets For Residential Property Investors 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share 1Save Related Articles Diversity and Inclusion 2019-12-12 Mike Albanese  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Where Zombie Properties Are Accumulating

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post in Daily Dose, Featured, Foreclosure, News, REO Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: BSI Financial Announces Key Executive Promotions Next: This Week’s Housing and Economic Report 2020-08-31 Christina Hughes Babb Share Save About Author: Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago August 31, 2020 2,948 Views 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Where Zombie Properties Are Accumulating A new report indicated that 1.6 percent of all homes in the U.S. are vacant, numbering 1,570,265 residential properties, with 7,960 or 3.7% of those vacant properties in the process of foreclosure, otherwise known as “zombie foreclosures.” That is according to ATTOM Data Solutions’ newly released Q3 2020 Vacant Property and Zombie Foreclosure Report.  The Company’s most recent vacant properties analysis showed that while the number of properties in the process of foreclosure (215,886) in Q3 2020 is down 16% from Q2 2020 (258,024), the percentage of those properties that have been abandoned as zombie foreclosures is up from 3% in Q2 2020. The report suggested that despite the increase, “as the federal government attempts to shield the housing market from an economic slide stemming from the Coronavirus pandemic, the 7,961 zombie foreclosure properties continue to represent a very small portion – just one in every 12,500 homes – of the nation’s 99.4 million residential properties.” According to ATTOM’s Q3 2020 vacant property and zombie foreclosure report, states where zombie-foreclosure rates exceed the national percentage are clustered in the Midwest and South. Those states include Kansas (15%, or one in seven, properties in the foreclosure process), Missouri (11.2%, or one in nine), Georgia (11%, or one in nine), Kentucky (10.7%, or one in nine) and Tennessee (10.3%, or one in 10). The analysis also reports that states where the rates fall below the national level are mainly in the Northeast and West. Those states include Utah (1.1%, or one in 87 properties in the foreclosure process), Idaho (1.2%, or one in 84), New Jersey (1.6%, or one in 62), Colorado (1.8%, or one in 56) and California (2%, or one in 50). Among 158 metro areas analyzed with at least 100,000 residential properties in Q3 2020, the highest zombie-foreclosure rates are in Peoria, IL (16.4% of properties in the foreclosure process); Wichita, KS (15.3%); Kansas City, MO (13.4%); Omaha, NE (12.7%) and Cleveland, OH (12.6%). More-detailed ratio-of-”zombie-foreclosures” data is included on the ATTOM website. In general, the recent ATTOM article deep dives into the company’s data to uncover the top 10 “zombie-fied” ZIP codes, which include: Those zips include 44108 in Cleveland, OH (44.1%, 63 zombies); 44112 in Cleveland, OH (34.8%, 47 zombies); 44105 in Cleveland, OH (27.6%, 48 zombies); 61604 in Peoria, IL (25.7%, 29 zombies); 13601 in Watertown, NY (20.8%, 27 zombies); 44128 in Cleveland, OH (18.0%, 23 zombies); 44120 – Cleveland, OH (17.6%, 23 zombies); 12078 in Gloversville, NY (17.4%, 19 zombies); 60419 in Dolton, IL (16.5%, 17 zombies); and 14701 in Jamestown, NY (15.7%, 24 zombies). The report’s methodology is as follows: “ATTOM Data Solutions analyzed county tax assessor data for more than 98 million single-family homes and condos for vacancy, broken down by foreclosure status and, owner-occupancy status. Only metropolitan statistical areas with at least 100,000 residential properties and counties with at least 50,000 residential properties were included in the analysis.” 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 Home / Daily Dose / Where Zombie Properties Are Accumulating 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 Subscribelast_img read more

‘Flurry of Lawsuits’ Challenge CDC Eviction Moratorium

first_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / ‘Flurry of Lawsuits’ Challenge CDC Eviction Moratorium Servicers Navigate the Post-Pandemic World 2 days ago ‘Flurry of Lawsuits’ Challenge CDC Eviction Moratorium October 13, 2020 1,744 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Wildfire Impact on California’s Housing Market Next: The Industry Pulse: Forbearance Tools & Expanded Services About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago 2020-10-13 Christina Hughes Babb When the White House made an announcement—by way of the Center for Disease Control and Prevention (CDC) and the Department of Health and Human Services (HHS)—that it would put a new conditional eviction ban in place, many housing-industry experts anticipated pushback from property owners. Then the court cases, such as a Virginia landlord’s suit against the CDC, started to surface. Now, the Washington Post reports that landlords, lobbyists, and housing industry groups have launched an all-out “legal war” against the moratorium. Some lawyers have tried to kill the temporary ordinance altogether, arguing the CDC had no right to enact it in the first place. “The flurry of lawsuits has created a wave of legal uncertainty,” Washington Post reported. This prompted the CDC last week to clarify the terms of the moratorium. “There’s a reason eviction is a remedy in the law,” said Caleb Kruckenberg, a lawyer at the New Civil Liberties Alliance told the Post, stressing that “landlords are experiencing significant financial disruption, too.”The Post’s Senior Tech Policy Reporter, Tony Romm reported that the action in courts around the country is inflicting on millions of Americans “the sort of hardships the Trump administration initially sought to prevent. Federal officials tried to clarify some of the ambiguity in policy guidance issued late Friday night. But the update instead appeared to give landlords a clearer green light to start eviction proceedings against some cash-strapped renters, even though a moratorium remains in place until the end of the year,” the reporter explained.Indeed, the CDC and the Justice Department in Friday’s pronouncement “clarified” that landlords are allowed to start eviction processes while the federal moratorium is active. Also, the Trump administration  said landlords “are not required to make their tenants aware” an eviction ban exists.Clarifications triggered further concern for some while it resulted in the forfeiture of at least one major case. Zachary Neumann, the leader of the Covid-19 Eviction Defense Project told the Post that, while this varies by jurisdiction, many households are unaware of the moratorium or have had trouble filling out the forms required to qualify for protection. He added that even among those who do everything right, some still face eviction because “the Trump administration has allowed landlords significant leeway to remove renters from their apartments for other reasons—including seemingly minor violations of their leases.”The Post goes on to report that about 1 in 3 adults say it is “somewhat or very likely that they could face the threat of eviction or foreclosure over the next two months, according to survey data released last week by the U.S. Census Bureau.So with renters, homeowners, and landlords all fearing negative implications, what might help?Romm reported that, “Renters and their landlords have found rare agreement in calling on Congress to act, particularly in putting aside billions of dollars in aid to help renters catch up on past-due bills—money that could also help property owners cover their own costs.”In a lose for all parties, a proposal that would do so has run into seemingly irreconcilable conflict on Capitol Hill.The article also noted that housing groups and Realtors are lobbying on behalf of policy that would benefit rental-property owners.The full article is available on Washington Post’s website. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. in Daily Dose, Featured, Government, News Sign up for DS News Daily Share Save The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Subscribelast_img read more

AMDC Member Company Recognized With Diversity Award

first_img in Daily Dose, Featured, Headlines, Market Studies, News Home / Daily Dose / AMDC Member Company Recognized With Diversity Award Demand Propels Home Prices Upward 1 day ago Related Articles Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe December 11, 2020 1,180 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Seven mortgage bankers are being recognized as leaders in inclusion and diversity efforts. Yearly, the Mortgage Bankers Association (MBA) spotlights companies that are outstanding in areas of organizational diversity and inclusion-and-outreach strategies.Five Star Global’s American Mortgage Diversity Council (AMDC) member Mr. Cooper Home Loans was one of three companies—along with United Nations Federal Credit Union, and Radian—to be awarded in the “organizational” category.According to organizers, “The Organizational Diversity and Inclusion award celebrates company initiatives that were specifically developed and designed to increase diversity and inclusion within the leadership and employee base of member companies, thereby leading to a mortgage banking industry that may better reflect and understand its customers.”In a press release, the MBA said that Mr. Cooper’s accolades stem from its initiative in creating an inclusive work environment and boosting employee engagement efforts.”In light of recent social events, Mr. Cooper has fostered a robust support system that assists its employees to be open about their feelings and share their stories,” said the MBA representatives.The awards for 2020 are based on reviews by two groups of judges consisting of MBA’s Diversity and Inclusion Committee members and other MBA staffers.The nominees were divided into two groups based on company size and were scored by the quality of their overall submission; identification of a target audience and annual goals; demonstration of a tangible benefit to participants and the overall enterprise; the replicability of the program; and innovation/potential success in broadening the culture of the organization.The MBA’s Organizational Diversity and Inclusion Awardees included:Mr. CooperUnited Nations Federal Credit UnionRadianThe awards for Market Outreach Strategies went to:Banner BankBank of AmericaFirstBankFinicity”We are now in the fifth year of recognizing companies that have gone above and beyond to cultivate a diverse and inclusive environment in their organizations,” said Susan Stewart, 2021 MBA Chairman, and Chief Executive Officer at SWBC Mortgage Corporation. “I am confident that these programs will continue to push the industry forward in its commitment to diversity and inclusion.”AMDC promotes diversity and inclusion throughout the mortgage industry. Learn more, including how to become a member, on mortgagediversitycouncil.com.  The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img 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. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago AMDC Member Company Recognized With Diversity Award Previous: The American Dream of Homeownership is ‘Very Much Alive’ Next: The Week Ahead: Understanding Eviction and Foreclosure Moratoria  Print This Post MBA Mr. Cooper 2020-12-11 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 1 day ago Sign up for DS News Daily Tagged with: MBA Mr. Cooperlast_img read more