HUD Secretary Castro Praises Nation’s Progress Made Toward Fair Housing

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post In a speech at the HUD 2015 Fair Housing Policy Conference in Washington, D.C., on Tuesday, HUD Secretary Julián Castro praised the progress the country has made in the arena of fair housing, but admitted that there is still a lot of work to do as neighborhoods remain segregated by race, national origin, and income.”We’ve got a great network of partners, many of whom are in this room,” Castro said. “From the Department of Justice and state and local agencies who join us in this enforcement work; to the nonprofits who’re carrying out this work in their communities; to the housing industry which is taking proactive steps to promote better quality housing and greater housing choice for all.”This is an exciting time for all Americans who care about fair housing.  Our nation has made significant strides in shaping a society that’s open to all.”The inaugural Fair Housing Policy included addresses from Senator Tim Kaine (D-Virginia), a former fair housing lawyer, and former Senator and Vice President Walter Mondale, who was one of the sponsors of the landmark Fair Housing Act in 1968.”Housing discrimination cosigned many families to a life of poor health, bad schools and low-wage jobs with little hope for the future,” Catro said. “But Walter Mondale and (Senator) Ed Brooke didn’t accept this fate for our nation, and their determination to right our nation’s wrongs led to the passage of the Fair Housing Act of 1968—boldly declaring that every American has the right to live where they choose. . .We know that everybody wins when a child gets a quality education, when a parent gets a good job and when the elderly have healthcare — and that a fair America is a thriving America.””This is an exciting time for all Americans who care about fair housing.  Our nation has made significant strides in shaping a society that’s open to all.”In July, HUD announced the finalization of the Affirmatively Furthering Fair Housing (AFFH) rule, which Castro said will provide families with housing choice vouchers to move into communities that provide better opportunities. Castro also pointed to the U.S. Supreme Court’s recent ruling that “disparate impact” claims are allowable under the Fair Housing Act of 1968.Castro, who became HUD Secretary in July 2014, said HUD has been proactively working with partners in eliminating barriers to opportunity rather than waiting until wrongdoing happens.”This work is paying off,” he said. “Over the past six years, we’ve helped get $330 million in compensation for more than 49,000 individuals that were allegedly subjected to housing discrimination.” Previous: OCC Is Concerned That Banks ‘Continue to Fail’ With SCRA Compliance Next: Foreign Central Banks Cutting Back on U.S. Mortgage-Backed Securities Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / HUD Secretary Castro Praises Nation’s Progress Made Toward Fair Housing in Daily Dose, Featured, Government, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe The Best Markets For Residential Property Investors 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. HUD Secretary Castro Praises Nation’s Progress Made Toward Fair Housing Servicers Navigate the Post-Pandemic World 2 days agocenter_img Tagged with: Fair Housing Act HUD Julian Castro Sign up for DS News Daily About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Fair Housing Act HUD Julian Castro 2015-09-01 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 1, 2015 897 Views last_img read more

Global Turbulence Creates Buyer-Friendly Market

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily  Print This Post in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Global Turbulence Creates Buyer-Friendly Market Subscribe The Best Markets For Residential Property Investors 2 days ago Recent international market blockbusters like China’s slowing economy and the U.K.’s decision to leave the European Union were significant enough for Freddie Mac to revise what it had expected to happen in the U.S. economy through the end of next year, but the GSE says the turbulence abroad has created a highly buyer-friendly mortgage market.Freddie Mac’s latest monthly outlook report, released Tuesday, stated that slowing growth in China and the June Brexit vote have played a major role in driving down mortgage rates. In the most recent Primary Mortgage Market Survey, Freddie Mac reported that the 30-year fixed-rate mortgage fell to 3.41 percent, just slightly above the all-time record low.“This,” the outlook report stated, “is likely to result in a boost in housing activity, particularly refinance, as homeowners take advantage of the current low rates.”Troubles overseas should also keep mortgage rates near historic lows, thereby allowing mortgage originations to surpass 2015’s level, the report stated.“The Federal Open Market Committee (FOMC) will likely keep the fed funds target rate increase on hold until at least the end of the year or even early next year,” Freddie Mac stated. “In its June meeting, the FOMC decided to keep the fed funds rate unchanged following a weaker than expected employment report for May as well as continued uncertainty in the global financial markets. Furthermore, following the results of the Brexit vote in late June, the Fed will likely continue to express caution before easing monetary accommodations.”According to Freddie Mac, the 30-year fixed-rate mortgage forecast has been revised down for both 2016 (by 30 basis points) and 2017 (by 50 basis points) to 3.6 percent and 4.0 percent, respectively.“Based on these low mortgage rates, expect the refinance share of originations to rise to 49 percent for 2016, 8 percentage points above last month’s forecast,” the report stated. “This translates to about $100 billion more in originations, bringing the total for 2016 to $1,825 billion.”The overall outlook is bolstered by June’s much-improved employment report.“Expect unemployment to average 4.9 percent in 2016 and 4.8 percent in 2017,” Freddie Mac reported.The house price appreciation forecast for 2016 remains at 5 percent, and at 4 percent for 2017. Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Share Save Freddie Mac U.S. Housing Market 2016-07-12 Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Scott Morgan Previous: Are Foreclosure Levels Reaching a New Normal? Next: Parties Spar Over Merits of CHOICE Act Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Global Turbulence Creates Buyer-Friendly Market Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Freddie Mac U.S. Housing Market July 12, 2016 1,455 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Foreclosures Fall Below Pre-recession Levels

first_img Foreclosure activity is now below pre-recession levels, according to the Q1 and March 2017 U.S. Foreclosure Market Report released by ATTOM Data Solutions on Thursday. Nearly half of all U.S. metro markets are also below their pre-recession points.According to the report, there were 234,508 foreclosure filings across the nation in the first quarter of 2017. That marks an 11-percent dip from Q4 2016, a 19-percent one from one year ago, and a 16-percent drop from the pre-recession average of 278,912. U.S. foreclosure activity is now at its lowest point since Q3 2006.“U.S. foreclosure activity, on a quarterly basis, first dipped below pre-recession averages in the fourth quarter of last year, and this report shows that trend continuing for the second consecutive quarter,” said Daren Blomquist, Senior Vice President with ATTOM Data Solutions. “The number of local markets dropping below pre-recession levels continues to grow, up from 78 a year ago to 102 in this report.”Drilling deeper, 102 out of 216 metro areas saw pre-recession era foreclosure levels in the first quarter of 2017. Foreclosure activity in Dallas dropped 73 percent below pre-recession average; Atlanta, 67 percent; Houston, 52 percent; and Los Angeles (46 percent.) San Francisco, Phoenix, Detroit, and Seattle also saw Q1 foreclosures well below their pre-recession points.According to Matthew Watercutter, Senior Regional Vice President and Broker of Record at HER Realtors in Ohio, the low rates of foreclosure are likely tied to unemployment rates.“The reduced number of foreclosure properties is consistent with lower unemployment rates and is contributing to the lack of inventory available to consumers, “Watercutter said. “That low inventory, coupled with increased demand, is causing an increase in housing costs, a reduction in days on market, and causing frustration among homebuyers wanting to purchase.”But the report wasn’t all good news. Despite foreclosures being down nationwide, there are still a large number of markets seeing foreclosure activity above their pre-recession levels. A total of 114 out of 216 markets—or 53 percent—fall into this category.Some of the larger markets where foreclosures were above pre-recession points included: Philadelphia, 97 percent about; New York, 80 percent; Washington, D.C., 64 percent; Boston, 26 percent; and Chicago, 9 percent. Foreclosure rates were highest in New Jersey, Maryland, and Nevada. In New Jersey, one in every 497 households had a foreclosure filing.Overall, foreclosure filings were also up slightly month-over-month, rising 1 percent over February, though they were down 24 percent over March 2016. This is the 18th month in a row foreclosure activity has dipped.Read the full report at RealtyTrac.com. Related Articles in Daily Dose, Featured, Foreclosure, News April 13, 2017 1,637 Views Foreclosure 2017-04-13 Seth Welborn Subscribe Share Save Demand Propels Home Prices Upward 2 days ago About Author: Aly J. Yale Tagged with: Foreclosure Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Aly J. Yale is a freelance writer and editor based in Fort Worth, Texas. She has worked for various newspapers, magazines, and publications across the nation, including The Dallas Morning News and Addison Magazine. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more.  Print This Post The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Foreclosures Fall Below Pre-recession Levels Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Foreclosures Fall Below Pre-recession Levels The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: ClosingCorp Chosen as Best Service Provider Next: Several Banks Report Declining Mortgage Revenue The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

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first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Industry Pulse 2017-09-07 Brianna Gilpin Sign up for DS News Daily Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Tagged with: The Industry Pulse September 7, 2017 1,073 Views The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Bank of America Merrill Lynch announced Thursday it was named Most Innovative Investment Bank of the Year 2017 by The Banker magazine. Bank of America was recognized for providing innovative and creative solutions to meet complex client needs, as well as demonstrating growth in fees and market share. In addition, the firm received Most Innovative Investment Bank from North America, Most Innovative in Bonds, Most Innovative in M&A, and Most Innovative in Climate Change and Sustainability. _______________________________________________________________________________________In an ongoing effort to help victims of natural disasters, Fannie Mae announced the options available for mortgage assistance and existing guidelines for single family mortgages and additional guidance specific to Hurricane Irma. The guidelines included that servicers are authorized to suspend or reduce a homeowner’s mortgage payments immediately for up to 90 days without any contact with the homeowner if the servicer believes the homeowner has been affected by a disaster. To see more, click here._______________________________________________________________________________________ Ocwen Financial Corporation, a financial services holding company, announced their loan modification borrower results for the first half of 2017. While working closely with nonprofit agencies, Ocwen helped approximately 30,000 families avoid foreclosure and remain in their homes in the first six months of 2017. Ocwen’s products include a principal forgiveness component to qualified borrowers and allows for a mortgage payment reduction of up to 20 percent to achieve an affordable mortgage payment and a sustainable performing loan._______________________________________________________________________________________ Previous: States Examine Hardest Hit Funds Next: FSBO Sellers: Is it Worth it? Related Articles Ellie Mae, a cloud-based platform provider for the mortgage finance industry, recently announced that it has signed a definitive agreement to acquire Velocify, a sales acceleration platform. With this acquisition, Ellie Mae is accelerating its vision of offering a fully digital mortgage by combining Velocify’s lead management, engagement, and distribution capabilities with their Encompass CRM and Encompass Consumer Connect._______________________________________________________________________________________ Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brianna Gilpin Which companies are merging, and what professionals are moving? See some highlights in this update of the housing and mortgage industries. Black Knight Financial Services, a software, data, and analytics solutions company, announced Thursday that it will be rebranding as Black Knight after the completion of its previously announced distribution by Fidelity National Financial of its equity interest in Black Knight Financial Services. Black Knight Financial Services expects the planned distribution of FNF’s equity interest in Black Knight Financial Services to the holders of FNF group common stock to be completed Friday, September 29, 2017. in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Five Star Institute to Gather Industry Leaders Throughout 2018

first_img Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Five Star Institute to Gather Industry Leaders Throughout 2018  Print This Post Subscribe December 15, 2017 2,009 Views The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News Tagged with: Bank of America FinTech HOUSING Legal League 100 mortgage Servicing Single Family Rental The Five Star Institute Demand Propels Home Prices Upward 2 days ago Five Star Institute to Gather Industry Leaders Throughout 2018 Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Previous: In the Near Future, Buyers Could Use Bitcoins to Purchase a Home Next: House and Senate Republicans Release Joint Tax Legislation About Author: Nicole Casperson The Best Markets For Residential Property Investors 2 days ago 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: [email protected] Bank of America FinTech HOUSING Legal League 100 mortgage Servicing Single Family Rental The Five Star Institute 2017-12-15 Nicole Casperson Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago The Five Star Institute, one of the nations leading trade associations, recently announced its 2018 schedule of events targeting an audience of lenders, servicers, attorneys, agents and brokers, and real estate investors.In the new year, the Five Star Institute looks forward to playing host to leading subject matter experts and executives from mortgage servicing through the presentation of compelling subject matter and content.”The Five Star Institute continues to drive the industry forward by offering a diverse slate of events tailored to the broad interests of its professionals.” said Ed Delgado, President and CEO of the Five Star Institute. “We look forward to hosting the leaders of the industry and regulatory stakeholders as we continue to push for progress in 2018.”In the spring, the events calendar is filled with the industry coming together to better the obstacles facing housing. On April 4, the Five Star Government Forum will convene at Newseum in Washington, D.C., and the National Mortgage Servicing Association Spring Summit will hold it’s annual day-long member meeting at The Hay-Adams in Washington, D.C., as mortgage servicing and the federal government will come together to participate in an open dialogue surrounding the mortgage industry’s most pressing issues and challenges.Through newer events such as the inaugural Five Star Fintech Summit held on March 21-22 at the Renaissance Nashville Hotel in Nashville, Tennesee, professionals have unparalleled opportunities to engage and collaborate with the leading experts in the technology and mortgage industries over the newest trends in financial technology.To educate investors, the Five Star Institute will host numerous events for mortgage professionals to better their practices. On March 19-21, the 2018 Single-Family Rental Summit will also commence at the Renaissance Nashville Hotel in Tennessee to provide key insights and strategies related to acquisition, disposition, financing, and property management in this expanding market.In light of the upcoming events, Colleen Lambros, Chief Marketing Officer of Auction.com, a long-time partner of the Five Star Institute explained how the company appreciates these educational opportunities.“We value Five Star Institute tremendously as a source of relevant, insightful content that affects our industry, making them an excellent partner,” said Lambros. “As the largest real estate marketplace, we go beyond the bid to deliver unparalleled solutions that ease the real estate process for our buyer and seller communities, and Five Star Institute’s high-quality news and content helps keep us ahead of trends and up-to-date on key developments within our industry.”Lambros continued, “Our partnership with Five Star Institute has consistently provided tremendous value and we look forward to continuing our work together in 2018.”Neil Sherman, Managing Attorney, Schneiderman & Sherman, P.C. and Chair of Five Star Institute’s Legal League 100 expressed his excitement for 2018—the Legal League 100 Spring Servicer Summit will convene May 2 in Dallas.“I am incredibly energized by what is happening at Legal League,” Sherman said. “The team is outdoing itself in preparation for our Spring Summit continuing the trend that Legal League is the must-attend Attorney Summit for our Industry.”The American Mortgage Diversity Council (AMDC) Council Member Meeting will commence May 2 in Dallas as well. Kathy Cummings, SVP, Homeownership Solutions and Affordable Housing Programs at Bank of America, and Co-Chair of AMDC stated her expectancy for the Five Star Institute events.“In the 2018 AMDC meeting, I’m looking forward to the efforts of the multiple work streams in driving real change within the mortgage business,” Cummings said.On September 16-18, the Five Star Institute will host the largest event in mortgage servicing, the Five Star Conference in Dallas, Texas. Previously, this event featured vibrant keynote presentations featuring former U.S. presidents George W. Bush, Bill Clinton and former Secretary of State Dr. Condoleezza Rice to name a few, while attracting award-winning entertainment such as Wynona, Trace Adkins, and Styx.Featured Five Star Institute 2018 events include:The Industry-Wide Mortgage Servicing ReceptionFebruary 6, 2018│6:30 p.m.Palace Arts Theater│Grapevine, Texas2018 Single-Family Rental Summit  March 19-21, 2018Renaissance Nashville Hotel | Nashville, TennesseeSingleFamilyRentalSummit.comFive Star Fintech Summit March 21-22, 2018Renaissance Nashville Hotel | Nashville, TennesseeFiveStarFintech.comFive Star Government Forum April 4, 2018 | 8:00 a.m. – 3:00 p.m.Newseum | Washington, D.C.FSGF.TheFiveStar.comNational Mortgage Servicing Association Spring Summit* April 4-5, 2018The Hay-Adams | Washington, D.C.NationalMortgageServicingAssociation.com*NMSA members only.Legal League 100 Spring Servicer Summit* May 2, 2018 | 8:30 a.m. – 3:00 p.m.Dallas, TexasLegalLeague100.com*Servicers and Legal League 100 members only.American Mortgage Diversity Council Member Meeting* May 2, 2018 | TBADallas, TexasMortgageDiversityCouncil.com*AMDC members only.Property Preservation Executive Forum Member Meeting* May 3, 2018 | TBADallas, TexasPropertyPresForum.com*PPEF members only.2018 Five Star Conference and Expo  September 16-18, 2018Hyatt Regency│Dallas, TexasFiveStarConference.comThe FORCE Rally September 16, 2018 FiveStarForce.comLegal League 100 Fall Servicer SummitSeptember 17, 2018American Mortgage Diversity Council Fall Member MeetingSeptember 17, 2018 Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

The Week Ahead: Forecasting Home Price Trends

first_img On Tuesday, May 1, CoreLogic will release the latest installment of its Home Price Insights Report. Tied to CoreLogic’s Home Price Index, the Home Price Insights Report tracks and forecasts home price trends across more than 6,700 ZIP codes, more than a thousand counties, and over 900 core-based statistical areas. The most recent release of CoreLogic’s Home Price Index (HPI), published on April 3, 2018, and covering the month of February 2018, found that national home prices were up over 52 percent since bottoming out in March 2011. National prices increased 6.7 percent year-over-year, according to the HPI, and CoreLogic Principal Economist Molly Boesel forecasts that they will rise 4.7 percent over the next year. Adjusting for inflation, home prices in February were still 16 percent below their 2006 peak.Here’s what else is happening in The Week Ahead.National Association of Realtors Pending Home Sales Index, Monday, 10 a.m. ETCensus Bureau Construction Spending Report, Tuesday, 10 a.m. ETEllie Mae Millennial Tracker, WednesdayMBA Mortgage Apps, Wednesday, 7 a.m. ETFederal Open Market Committee Meeting Announcement, Wednesday, 2 p.m. ETFederal Reserve Balance Sheet, Thursday, 4.30 p.m. ETCensus Bureau Jobs Report, Friday, 8.30 a.m. ET  Print This Post Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CoreLogic Home Price Index Home Price Insights Report Home Prices the week ahead 2018-04-29 David Wharton Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / The Week Ahead: Forecasting Home Price Trends The Week Ahead: Forecasting Home Price Trends Tagged with: CoreLogic Home Price Index Home Price Insights Report Home Prices the week ahead 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] The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Smaller Loans Could Address Housing Shortages Next: Terri Hunter Joins ServiceLink Default Services Team in Daily Dose, Featured, Market Studies, News April 29, 2018 1,650 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Ginnie Mae Announces Borrower Relief Options

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Ginnie Mae 2020-07-01 Mike Albanese Share Save Servicers Navigate the Post-Pandemic World 2 days ago Ginnie Mae Announces Borrower Relief Options Demand Propels Home Prices Upward 2 days ago Tagged with: Ginnie Mae To cast aside any doubts and guarantee the rate of transactions in conjunction with borrower relief and loss mitigation extended by the federal mortgage programs won’t dilute market confidence in its securities, Ginnie Mae announced a pair of temporary borrower relief options—the Federal Housing Administration’s (FHA) National Emergency Standalone Partial Claim and USDA’s Mortgage Recovery Advance.Neither requires loans to be bought out of pools in the event the terms of the loan won’t call for modification.The pooling of eligibility restrictions while providing for appropriate and essential buyout transactions, which had already been in place, is being implemented by Ginnie Mae to ensure loan activity with borrower and Mortgage Backed Security (MBS) program interests.Three new terms: “Re-performing Loan”, “Timely Payment”, and “Delinquent” are being incorporated to define the new pooling eligibility requirements and guarantee they’re not unnecessarily restrictive.“Re-performing Loan” refers to a mortgage loan no more than 30 days delinquent and previously bought out from a pool or loan package backing a Ginnie Mae MBS. Additionally, the same rate and terms as the rate and terms linked with such a loan on the date it was previously securitized in a Ginnie Mae MBS are retained.“Delinquent”, meantime, is a mortgage loan with full monthly payment due but unpaid; the reason notwithstanding, including loans in forbearance that aren’t treated as delinquent for the purposes of other credit or servicing. A “Timely Payment” is complete monthly mortgage payment a borrower makes no more than 30 calendar days from its scheduled due dateSignificantly, any Re-performing Loan entered into any type of forbearance—no matter the duration—on or following March 1, 2020, and bought out on or by July 1, 2020, reflected in the servicing system of the insurer of record, doesn’t qualify as collateral for Ginnie Mae securities backed by existing pool types. Meanwhile, Re-performing Loans will be eligible collateral for securities backed by C RG pools. Ginnie Mae deployed the new pool type to secure the Re-performing Loans this memorandum impacts with the following caveats:timely payments have been made by the borrower for the six months immediately preceding the issuance with the MBS andthe date of issue of the MBS is a minimum of 210 days from later date the loan was delinquentAn “All Participants” Memorandum, which will detail updates to these temporary restrictions, will be issued by Ginnie Mae. These restrictions apply to Re-performing Loans. Modified Loans, which are mortgage loans that have undergone a rate and/or term modification in conjunction with a duly executed loan modification agreement, aren’t impacted. If they satisfy other MBS Guide and Guaranty Agreement requirements, they still can be re-pooled, restriction-free.Earlier in the year, the issuance of mortgage-backed securities totaling $55.21 billion was announced by Ginnie Mae. It also provides financing for more than 211,000 homeowners and renters.Ginnie Mae’s total outstanding principal balance for loans was $2.14 trillion, a $2.05 trillion spike from March of last year.“The Ginnie Mae MBS program is working for America’s families, facilitating an average of $55 billion in mortgage capital in each of the past eight months,” said Ginnie Mae Principal EVP Seth Appleton. That consistency, he continued “illustrates the reliability of our technology infrastructure—especially as our staff and that of many of our business partners rely on remote connectivity to keep money flowing to our nation’s mortgage borrowers.” About Author: Chuck Greencenter_img Demand Propels Home Prices Upward 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Ginnie Mae Announces Borrower Relief Options Related Articles in Daily Dose, Featured, Government, News Previous: The Rise of Fintech in Housing Next: Could COVID-19 Impact How Housing is Perceived? Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago July 1, 2020 2,129 Views Chuck Green has contributed to the Wall Street Journal, Washington Post, Los Angeles Times, San Francisco Chronicle, Chicago Tribune and others covering various industries, including real estate, business and banking, technology, and sports. The Best Markets For Residential Property Investors 2 days agolast_img read more

SF publishes employment strategy, saying 156 jobs can be created

first_img Help sought in search for missing 27 year old in Letterkenny Previous articleThird Chinese man arrested in relation to Malin drugs haulNext articleRaphoe one of three dioceses criticised in HSE audit News Highland By News Highland – October 11, 2012 448 new cases of Covid 19 reported today News Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published Facebook Twitter Sinn Fein says the Government’s ambitions for the country are limited to Troika-led retrenchment.The party has launched its jobs plan – which claims that 156 thousand jobs can be created through a 13 billion euro investment.It says the plan is fully costed – and can be funded through the National Pension Reserve Fund, the European Investment Bank and investment from the private pension sector.The plan incluides significant investment in schools, water and broadband.Finance Spokesperson and Donegal TD Pearse Doherty says the plan was informed and influenced by discussions he had with various community groups and other bodies around the country……..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/10/pears530.mp3[/podcast] WhatsApp SF publishes employment strategy, saying 156 jobs can be createdcenter_img Pinterest WhatsApp Google+ RELATED ARTICLESMORE FROM AUTHOR Facebook Twitter NPHET ‘positive’ on easing restrictions – Donnelly Google+ Calls for maternity restrictions to be lifted at LUH Pinterestlast_img read more

Time for a change of leadership within Fianna Fail – Senator O’Domhnaill

first_imgNews Time for a change of leadership within Fianna Fail – Senator O’Domhnaill Pinterest Previous articleKeavney believes Irish government commitment to A5 is now “irreversible”Next articleOyster fishermen hold protest on waters of Foyle today News Highland LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton NPHET ‘positive’ on easing restrictions – Donnelly RELATED ARTICLESMORE FROM AUTHOR Almost 10,000 appointments cancelled in Saolta Hospital Group this week Three factors driving Donegal housing market – Robinson Facebook WhatsApp Facebookcenter_img Twitter WhatsApp Google+ Twitter Pinterest Fianna Fail TDs are expected to consult party supporters in each of their constituencies this weekend on Brian Cowen’s position as party leader.It follows the former Minister for Foreign Affairs call on the party’s TDs to reflect on their support for the Taoiseach in Tuesday’s confidence vote.Fianna Fail Senator Brian O Domnhail says he believes huge damage has been done to the party in the past week, and thats been reflected by members of the organisation in the constituency…….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/01/br1.mp3[/podcast]And the Donegal South West General Election candiate also said it’s time for a change of leadership……[podcast]http://www.highlandradio.com/wp-content/uploads/2011/01/br2.mp3[/podcast] Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published Google+ By News Highland – January 22, 2011 last_img read more

Six hospitalised after Bunbeg crash

first_img Six hospitalised after Bunbeg crash Newsx Adverts Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter RELATED ARTICLESMORE FROM AUTHOR By News Highland – February 16, 2012 Six people, including a young boy, were removed to Letterkenny General last night Wednesday following a two car head on collision near Bunbeg.The two cars, a silver Mercedes and a red Volkswagen Bora collided at middle Dore after 9pm. Both were extensively damaged.The road was closed for a period while two ambulance crews, a fire crew and two Garda units assisted the injured.It is not thought that any of the injuries are life threatening. Previous articlePost Offices should be allowed offer a basic bank account – PringleNext articleNo-one injured in Sion Mills shooting News Highland Guidelines for reopening of hospitality sector published Facebook Calls for maternity restrictions to be lifted at LUH center_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Pinterest Facebook Google+ Google+ WhatsApp Pinterest Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more