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Analyst Says Nation’s 5.6 Percent Unemployment Rate is Misleading

first_imgHome / Daily Dose / Analyst Says Nation’s 5.6 Percent Unemployment Rate is Misleading While the Obama Administration is touting monthly job gains consistently averaging more than 200,000 and a labor market that they say is at its healthiest level since the turn of the century, at least one analyst says that the recently reported national unemployment rate of 5.6 percent may not be telling the complete story.Jim Clifton, chairman and CEO of polling firm Gallup, claims in a story on the Gallup website blog entitled “The Big Lie: 5.6 Percent Unemployment” that this figure is misleading, and he spells out why he believes that way.The nation’s unemployment rate has particular meaning for the housing industry because economists and analysts have repeatedly stated that housing recovery depends on economic recovery, and vice versa – and that housing recovery depends in particular on a healthy combination of consistent job gains and wage growth. In fact, many analysts have predicted that millennials (age 25 to 34) will drive housing recovery in the next year, thus making employment among that demographic imperative.”Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is ‘down’ to 5.6 percent,” Clifton wrote, referring to the rate the Bureau of Labor Statistics reported for December that actually ticked up to 5.7 percent in January. “The cheerleading for this number is deafening. The media loves a comeback story, the White House wants to score political points and Wall Street would like you to stay in the market.”Clifton asserts that the 5.6 percent unemployment rate is not a true representation of the percentage of unemployed workers nationwide because it doesn’t include people who have given up looking for a job – or in his words, “While you are as unemployed as one can possibly be, and tragically may never find work again, you are not counted in the figure we see relentlessly in the news – currently 5.6 percent.”About 30 million Americans are either out of work or severely underemployed, according to Clifton. When the number of Americans in “good jobs” is calculated – or in other words, the number of Americans who have a job with an organization that puts them to work for 30 or more hours a week and provides them with a regular paycheck – that number is a staggeringly low 44 percent, Clifton said.Another reason why the 5.6 percent unemployment figure is misleading, according to Clifton, is that it does not include those who work part-time and want to work full-time.”There’s no other way to say this. The official unemployment rate, which cruelly overlooks the suffering of the long-term and often permanently unemployed as well as the depressingly underemployed, amounts to a Big Lie,” Clifton wrote. “And it’s a lie that has consequences, because the great American dream is to have a good job, and in recent years, America has failed to deliver that dream more than it has at any time in recent memory. A good job is an individual’s primary identity, their very self-worth, their dignity – it establishes the relationship they have with their friends, community and country. When we fail to deliver a good job that fits a citizen’s talents, training and experience, we are failing the great American dream.”In January, when the BLS announced the 5.6 percent unemployment rate for December, Fannie Mae chief economist Doug Duncan noted that the labor force participation was at 62.7 percent – its lowest level since 1977.”So far, the diminishing slack in the labor market has not yet translated into stronger wage gains, which sends a disappointing signal to the housing market,” Duncan said. “We fear that housing may, again, lag the progress of the overall economy this year. . . While we expect economic growth to strengthen to an above-par pace this year, our view for the housing market remains cautious, as we believe that meaningful income growth needs to occur to spur household formation, which has been frustratingly anemic in the current economic expansion.” 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: Bureau of Labor Statistics Gallup Housing Recovery Labor Market U.S. Economy Unemployment Rate Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save February 16, 2015 960 Views Previous: Lawmakers Discuss Use of RMBS Settlement Funds at House Judiciary Committee Hearing Next: Economist: Leverage Plays Major Role in Driving Foreclosures Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Analyst Says Nation’s 5.6 Percent Unemployment Rate is Misleading About Author: Brian Honeacenter_img in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago  Print This Post 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Bureau of Labor Statistics Gallup Housing Recovery Labor Market U.S. Economy Unemployment Rate 2015-02-16 Brian Honea Subscribe The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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Former Freddie Mac Executives Settle With SEC Over Claims of Subprime Loan Fraud

first_img in Daily Dose, Featured, News, Secondary Market The Best Markets For Residential Property Investors 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Former Freddie Mac CEO Richard Syron and two other former executives from the GSE have agreed to a settlement with the U.S. Securities and Exchange Commission (SEC) to resolve claims of fraud regarding Freddie Mac’s subprime exposure before the financial crisis, according to media reports.According to the reports, the settlement was disclosed in court papers filed in the U.S. District Court in the Southern District of New York in Manhattan. Under the terms of the settlement, Syron will pay $250,000. Former chief business officer for Freddie Mac, Patricia Cook, will pay $50,o00, and Freddie Mac’s former VP of credit policy, Donald Bisenius, will pay $10,000, according to the report. Also under the terms of the settlement, there was no disgorgement, civil penalty, or admission of wrongdoing on the part of any of the parties, according to a press release from Zuckerman Spaeder, the firm that represented defendant Patricia Cook.”We are extremely pleased with this resolution,” attorney Steven Salky of Zuckerman Spaeder said. “While at Freddie Mac or elsewhere, Ms. Cook has never signed the forms she now has agreed not to sign. In addition, she is not paying anything out of pocket; insurance will pay her agreed-to donation. Extensive discovery of facts led to this favorable outcome.”In a statement, Bisenius said, “I am gratified that the SEC has agreed to end its case against me. The dismissal of the case today under these terms vindicates me completely.”The three former Freddie Mac executives were among six ex-GSE executives (including former Fannie Mae CEO Daniel Mudd) sued by the SEC in December 2011 for allegedly misrepresenting to investors the amount of exposure to subprime loans the GSEs had incurred. Bloomberg reported that in one SEC complaint, Freddie Mac executives had said during 2007 and 2008 immediately before financial crisis, the agency’s exposure to subprime loans was between $2 billion and $6 billion when it was actually as high as $244 billion. The SEC also claimed that during that same period, Fannie Mae executives said their exposure to subprime and riskier mortgage loans was about $4.8 billion when it was about 10 times greater.Syron joined Freddie Mac in 2003. Both he and Mudd were ousted from their respective positions in September 2008 when Freddie Mac and Fannie Mae were taken into conservatorship by the Federal Housing Finance Agency. The three former Fannie Mae executives named in the SEC lawsuit are currently awaiting trial.  Print This Post Freddie Mac Securities and Exchange Commission Settlements Subprime Loans 2015-04-14 Brian Honea Former Freddie Mac Executives Settle With SEC Over Claims of Subprime Loan Fraud Tagged with: Freddie Mac Securities and Exchange Commission Settlements Subprime Loans Previous: HUD Awards $36 Million in Housing Counseling Grants to Prevent Foreclosures Next: DS News Webcast: Wednesday 04/15/2015 Data Provider Black Knight to Acquire Top of Mind 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Home / Daily Dose / Former Freddie Mac Executives Settle With SEC Over Claims of Subprime Loan Fraud Share Save Sign up for DS News Daily About Author: Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago April 14, 2015 1,161 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe 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 Demand Propels Home Prices Upward 2 days agolast_img read more

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FHA Announces Expanded Mortgage Relief for Disaster Victims

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Tagged with: California Delinquencies Disaster Relief Disaster Victims Federal Housing Administration FHA hurricanes mortgage Puerto Rico Texas wildfires The Federal Housing Administration (FHA) has provided additional relief to victims of the natural disasters that hit the nation in 2017. On Thursday, FHA announced expanded mortgage relief to FHA-insured homeowners who live or work in areas impacted by the Hurricanes Harvey, Irma, and Maria as well as those affected by the California wildfires and subsequent flooding and mudslides.The bureau is instructing mortgage servicers to offer additional options to eligible disaster victims in Texas, Louisiana, Georgia, Florida, South Carolina, California, Puerto Rico, and the U.S. Virgin Islands. These steps would allow victims to remain in their homes while reducing losses that would otherwise negatively impact FHA’s Mutual Mortgage Fund, the bureau said in a statement.“It’s clear that FHA homeowners in these areas need more help to get back on their feet as they recover from these storms,” said HUD Secretary Ben Carson.  “Today, we offer immediate relief to these borrowers which will allow them to resume their mortgage payments without crippling payment shock and fees while protecting our insurance fund in the process.”According to the FHA, the expanded loss mitigation will also streamline income documentation and other requirements to expedite relief to homeowners struggling to pay their mortgage while recovering from the disasters. As part of this plan, FHA is introducing a new “Disaster Standalone Partial Claim” option to help struggling borrowers resume their pre-disaster mortgage payments without payment shock. This option covers up to 12 months of missed mortgage payments via an interest-free second loan on the mortgage, payable only when the borrower sells the home or refinances their mortgage.  It requires no trial period or balloon payment and allows borrowers to keep their existing low-interest rate and loan term as well as their existing monthly mortgage payment.Apart from being disaster victims, borrowers would have to be current on their mortgage payments at the date of the disaster; have income that is equal to or more than their pre-disaster income and have lived in an owner-occupied property to be eligible for this relief, the FHA said. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Wallison: Treasury Department Wrong on Regulation Approach Next: The Industry Pulse: Updates on Morningstar, CoreLogic, and More … Related Articles The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / FHA Announces Expanded Mortgage Relief for Disaster Victimscenter_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, Headlines, News February 22, 2018 2,965 Views Demand Propels Home Prices Upward 2 days ago FHA Announces Expanded Mortgage Relief for Disaster Victims Data Provider Black Knight to Acquire Top of Mind 2 days ago California Delinquencies Disaster Relief Disaster Victims Federal Housing Administration FHA hurricanes mortgage Puerto Rico Texas wildfires 2018-02-22 Radhika Ojha Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

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Rent Price Trends—Industry Implications

first_img rent growth Rent prices Single Family Rental 2018-06-04 David Wharton Tagged with: rent growth Rent prices Single Family Rental The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago June 4, 2018 2,042 Views Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Rent Price Trends—Industry Implications Home / Daily Dose / Rent Price Trends—Industry Implications Related Articles Previous: Home Affordability Challenges in Microcosm Next: How AI Will Change Mortgage Servicing Subscribe According to the June 2018 National Apartment List Rent Report, the national rent index increased 0.4 percent month-over-month (MOM), which makes four months of rent increases in a row. Apartment List notes that this upswing in rent growth is consistent with the onset of the summer season, the busiest time of year for rentals. June’s rent price increase is the largest jump seen since last July, and Apartment List’s report predicts that growth will continue through the summer months.However, year-over-year (YOY) rent price growth has actually decreased over the past several years. June 2018’s YOY growth was 1.5 percent nationally. A year ago, that number was 2.8 percent, and May 2016 clocked a 3.2 percent rate. As Apartment List explains, “Rent growth is pacing a full percentage point behind the overall rate of inflation, which stands at 2.5 percent as of the latest data release, and is similarly lagging growth in average hourly earnings which have increased by 2.6 percent over the past twelve months.”Rent prices increased MOM in 85 out of the 100 largest cities, as compared to 78 of those cities the month prior. Orlando, Florida, leads the pack when it comes to rate of rent price growth, clocking in at 6.7 percent YOY. However, as in many other markets, that growth has been decelerating in Orlando in recent months. In second place, Salt Lake City, Utah, registered a 5.4 percent YOY growth, and Knoxville, Tennessee, came in at 4.9 percent growth. On a state level, Nevada clocked the fastest YOY rent growth at 3.9 percent.Very few cities saw YOY rent price declines, but Baton Rouge, Louisiana, saw the biggest drop between 2017-2018, coming up with a 2.0 percent rent price decrease. Among the states, Hawaii showcased the biggest YOY rent price decline at 2.4 percent.A recent report by Freddie Mac Multifamily found that, among renters, 67 percent say they believe renting is currently more affordable than owning a home, and 66 percent say they are satisfied with their rental experience. Moreover, 55 percent of renters say they believe their next residence will be a rental, according to the survey. The preference is notably more pronounced among older generations. Just seven percent of millennials stated they had no interest in owning a home, while 19 percent of Generation X renters and 35 percent of baby boomer renters reported the same sentiment.“Indeed, we are witnessing a historic shift in preference among older Americans, as they increasingly are choosing the size, convenience, and affordability that renting offers over ownership,” said David Brickman, EVP and Head of Freddie Mac Multifamily.That all suggests that single-family rental homes, as a compromise between apartment living and full homeownership, will likely continue to be a haven of opportunity for savvy investors.Click these links to read more about the market’s ongoing affordability and inventory shortage problems, and click here to read the full Apartment List report. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton 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] in Daily Dose, Featured, Journal, Market Studies, News Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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The Rise and Stall of Zero Net Energy Homes

first_imgSign up for DS News Daily The Rise and Stall of Zero Net Energy Homes 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. in Daily Dose, Featured, Journal, Market Studies, News, Technology July 7, 2018 2,247 Views Energy Efficient Homes green homes zero net energy 2018-07-07 David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Will Wage Growth Bring Relief to Homebuyers? Next: Foreclosure Avoidance Options for Distressed Homeowners Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Share Save Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Builders are increasingly building homes that consume zero net energy, according to a new industry report by Parks Associates. The report shows that construction of zero net energy (ZNE) homes increased 75 percent from 2016 to 2017, which aligns with increases in expressed consumer demand—Parks’ consumer segmentation regarding energy efficiency estimates 42 percent of all U.S. consumers classify as energy-efficient techies.According to the U.S. Department of Energy, ZNE refers to buildings that less than or roughly equal the amount of energy available through renewable means at the site, for example, from solar cells. The DOE also says that conventional buildings account for 40 percent of all fossil fuel consumption.California is by far the leader among states with ZNE homes. Half of all net-zero-energy homes built in the U.S. are there, according to Parks.“The state has bold goals for all residential new construction to achieve ZNE by 2020,” said Denise Ernst, a senior analyst at Parks. “Other states have also adopted a similar top-down approach to incentivize ZNE adoption, but low energy costs are a barrier to generating ZNE demand.”According to Ernst, a third of homeowners report monthly electricity bills below $100.However, while incentives to building ZNE—or converting spaces to become so—might not be there financially right now, there is much interest in greener building. According to the report, more than a third of U.S. broadband households consider residential battery storage to store excess power to be very valuable, and 37 percent consider solar heating panels to be very valuable. Four out of five homeowners believe that having an energy-efficient home is important or very important.”Near-zero and zero-ready homes create more choice for consumers,” Ernst said. “Federal tax credits and utility incentives can help drive adoption of energy-efficient solutions, and the product manufacturers, trade associations, and local suppliers can work together to drive awareness among builders about innovative solutions.”Ernst said market opportunities also exist for high-efficiency appliances, home energy management equipment, and smart home energy products and service providers to fill the gaps in household efficiency. Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Tagged with: Energy Efficient Homes green homes zero net energy Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / The Rise and Stall of Zero Net Energy Homes The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Scott Morgan The Best Markets For Residential Property Investors 2 days agolast_img read more

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The Industry Pulse: Updates on CoreLogic, Padgett Law Group, and More …

first_img About Author: Radhika Ojha 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, News Home / Daily Dose / The Industry Pulse: Updates on CoreLogic, Padgett Law Group, and More … Tagged with: CoreLogic EXOS Financial services industry mortgage Padgett Law Group Schiller Knapp Servicing Veterans United  Print This Post Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Industry Pulse: Updates on CoreLogic, Padgett Law Group, and More … 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. April 11, 2019 1,427 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img From partnerships and promotions to recognition and new services, catch the latest happenings in the industry in this update.CoreLogic recently announced its Instant Merge credit report and flood services are now available on LendingPad, a web-based, end-to-end loan origination system (LOS). The inclusion of Instant Merge credit reports joins the previously available Flood Determination services from CoreLogic in a series of planned product integrations on the LendingPad platform.The Instant Merge credit report provides specific demographic information, current and historical tradeline details and public records and inquiries with additional features such as identity verification, multiple scoring options, and detailed creditor contact information. Lenders can request an Instant Merge credit report and find the most up-to-date borrower information available from the three major credit bureaus—Equifax, Experian, and TransUnion.“LendingPad is proud to be at the forefront of mortgage lending technologies and working with reputable industry leaders to enhance loan origination processes,” said Wes Yuan, Managing Director for LendingPad. “Our mutual customers will immediately enjoy the convenience and benefits of the CoreLogic credit and flood products inside of the LendingPad platform.”___________________________________________________________________________Padgett Law Group (PLG) has announced that Marissa M. Yaker has been promoted to Managing Attorney over the firm’s multi-state foreclosure practice. The promotion includes the firm’s foreclosure practices in Florida, Georgia, Tennessee, Arkansas, and Texas. In her new role, Yaker will specifically focus on FHA timelines, general processing timelines, and client education related to foreclosure changes, updates, and news across PLG’s multi-state footprint.“Timeline, turnaround, and quality are hallmarks of the PLG experience, and each of these are areas where Marissa excels. We are thrilled to have her in this expanded role where she’ll be able to share her talents for thoroughness, quality legal work, and efficient operational excellence with more of our clients and other PLG team members,” said Robyn Padgett, PLG’s Chief Development Officer.___________________________________________________________________________Schiller, Knapp, Lefkowitz & Hertzel, LLP has announced the promotion of Gregory J. Sanda to its partner ranks. Sanda is jointly responsible for the firm’s complex foreclosure litigation and eviction departments. His practice also focuses on commercial mortgage foreclosures, appellate work, and commercial litigation. For several years, Sanda has instructed on all topics related to foreclosure and has presented at various industry events on developments in foreclosure law, post-foreclosure issues, including eviction, the FDCPA, and other debt collection law and regulation. He is admitted to practice in New York and is a member of the New York State Bar Association and the Creditors’ Association of Upstate New York. Sanda is a graduate of the University of Massachusetts (B.B.A. 1999), the George Washington University Law School (J.D. 2003), and the George Washington University School of Business (M.B.A. 2003).“Since joining our firm, five years ago, Greg has contributed greatly to the firm’s continued success. Together with his extensive litigation background and business insight (MBA) he will continue to add tremendous value and expertise to our firm and within the partnership ranks,” said William Schiller, Managing Partner at Schiller, Knapp, Lefkowitz & Hertzel, LLP.___________________________________________________________________________Pittsburgh-headquartered, EXOS Technologies, a ServiceLink company providing cloud-based digital technologies to the mortgage industry, is partnering with California-based digital technologies and solutions company Tavant to amplify its digital strategy. Through this partnership, Tavant’s AI-powered digital lending platform – VΞLOX, which has processed more than 4 million digital mortgage transactions, is integrating with EXOS Title, EXOS Valuations, and EXOS Close.”EXOS is an innovative industry platform that enhances the consumer experience through key touch points that are often overlooked in the digitization of the origination process,” said Kiran Vattem, Chief Digital and Technology Officer at ServiceLink. “We’re confident that EXOS will be a great addition to Tavant’s robust package of products.”___________________________________________________________________________Veterans United Home Loans, has made the Top 5on Great Place to Work and Fortune’s list of the Best Workplaces in Financial Services and Insurance for the second year in a row. The list ranks the Top 30 largest companies and the Top 30 small and medium companies, with Veterans Unitedranking No. 3 on the large companies list. The ranking considered feedback representing more than 726,000 employees working at Great Place to Work-Certified organizations in the financial services and insurance industry.“Our employees are committed to living out our values and providing the Veterans and service members we serve with the best possible customer service experience,” said Dr. Amanda Andrade, Chief People Officer at Veterans United. “Our biggest asset in our company is our employees. The dedication and drive they bring each and every day is unparalleled in our industry.”Great Place to Work, a research and consulting firm, evaluated more than 60 elements of team members’ experience on the job. These included “employee pride in the organization’s community impact, belief that their work makes a difference, and feeling their work has special meaning.” The Best Markets For Residential Property Investors 2 days ago Share Save Related Articles Previous: How Technology Is Powering Property Preservation Next: Mountain West Financial Rolls Out Lender Price System The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago CoreLogic EXOS Financial services industry mortgage Padgett Law Group Schiller Knapp Servicing Veterans United 2019-04-11 Radhika Ojha Subscribe Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Shifting Priorities for Single-Family Zoning

first_img Share Save Home / Daily Dose / Shifting Priorities for Single-Family Zoning Shifting Priorities for Single-Family Zoning in Daily Dose, Featured, Market Studies, News  Print This Post HOUSING SIngle-family 2019-06-19 Seth Welborn Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Previous: A Look at Securitized Trusts and Diversity Jurisdiction Next: The Fed’s Decision on Interest Rates About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Tagged with: HOUSING SIngle-family Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago June 19, 2019 1,035 Views Servicers Navigate the Post-Pandemic World 2 days ago As lawmakers in states such as Oregon and California move to end zoning exclusively for single-family homes, The New York Times takes a look at what is moving cities to begin to do away with zoning for the traditional single-family home.NYT notes that the Oregon legislature this month will consider a law that would end zoning exclusively for single-family homes in most of the state, while California lawmakers have drafted a bill that would effectively do the same. These lawmakers state that this change is necessary, “ amid mounting crises over housing affordability, racial inequality and climate change.”Minneapolis will end single-family zoning city wide as well, across zoning on 70%of the city’s residential land, or 53% of all land. According to Minneapolis director of long-range planning Heather Worthington, a drastic change such as this was the best option.If we were going to pick and choose, the fight I think would have been even bloodier,” Worthington told NYT.According to Urban footprint, converting 5% of Minneapolis’s largest single-family plots into triplexes would create 6,200 new units of housing. Despite the benefits proposed by lawmakers, Minnepolis’s plan has drawn criticism.“What we’re selling here in Minneapolis — or what our planning department and our city council are selling — is that we’re new, we’re state of the art, we’re cutting-edge, we’re virtue signaling,” said Lisa McDonald on NYT, a former Minneapolis City Council member.According to McDonald, the reality of the plan is that Minneapolis is “giving itself away to developers,” building market-rate housing, but not any new affordable housing, stating to “beware these promises.”According to the NYT, these advocates for curbing single-family zoning are not pushing a new idea, but rather, are lobbying for “a return to the past.”“Many Minneapolis blocks today date to before the 1920s, with duplexes or small apartment buildings next to single-family homes,” the NYT stated. “For years, those older buildings have been considered “nonconforming,” as the law changed around them. Under Minneapolis’s new plan, that distinction will end, too.” Data Provider Black Knight to Acquire Top of Mind 2 days ago 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. Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

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Mortgage Debt Increases in Q4

first_img Related Articles  Print This Post Tagged with: debt Household Debt mortgage Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago debt Household Debt mortgage 2020-02-11 Seth Welborn Mortgage Debt Increases in Q4 The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Mortgage balances rose by $120 billion in Q4 2019 according to the Federal Reserve Bank of New York. Total household debt increased by $193 billion (1.4%) to $14.15 trillion in Q4.“Mortgage originations, including refinances, increased significantly in the final quarter of 2019, with auto loan originations also remaining at the brisk pace seen throughout the year,” said Wilbert Van Der Klaauw, SVP at the New York Fed. “The data also show that transitions into delinquency among credit card borrowers have steadily risen since 2016, notably among younger borrowers.”The New York Fed’s study also covered delinquency transitions, which remained largely unchanged in Q4 2019 compared to recent quarters. Transitions from early delinquency deteriorated in the fourth quarter, as 17.4% of mortgages in early delinquency (30-60 days late) transitioned into 90+ days delinquent.Mortgage originations jumped to the highest volume seen since Q4 2005, rising to $752 billion in the fourth quarter from $528 billion in Q3 2019, due to a large increase in refinance activities. Among newly originating mortgage borrowers, the median credit score stood at 770, a 5-point increase from the Q3 2019. Auto loan originations remained high at $159 billion in the fourth quarter of 2019.As debt increases, many Americans are feeling burdened, thought mortgage debt is not the leading debt burden. A new survey by LendingTree found that almost 60% of Americans feel burdened by debt in 2020, with 12.4% most concerned about mortgage debt.The report states that even though mortgage debt is the largest source of debt, people feel less burdened by it, as that type of debt is considered a “good debt” as it contributes to consumers’ financial future.Fourteen-percent of all millennials surveyed is concerned over mortgage debt—the highest among the three generations polled. Thirteen-percent of Gen X’s surveyed were concerned about mortgage debt and just 10% of Baby Boomers were worried. About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Share Save February 11, 2020 1,592 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Measuring the Effectiveness of Foreclosure Assistance Programs Next: Democratic Candidates’ Views on Affordability Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Mortgage Debt Increases in Q4 in Daily Dose, Featured, Foreclosure, Market Studies, News Subscribelast_img read more

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Storms, Holidays, and COVID-19 Shaped March Housing Metrics

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Housing Starts Hit 15-Year Peak in March Next: Forbearance Volumes Steadily Decline 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The holidays, as well as limits in inventory, should be taken into account when evaluating the stats for the four-week period ending April 11, Redfin’s researchers explained.”The Easter holiday may have contributed to the latest decline in new listings, as many Americans were spending time with family instead of putting their homes on the market. The overall lack of homes for sale is limiting how much home sales can grow,” said Redfin Lead Economist Taylor Marr. “However, Redfin’s homebuyer demand index is up 4.3% from a month ago, revealing that house hunters are still out in full force. They’re jumping on low mortgage rates, which are sliding back down toward 3%, and bidding up prices of the homes that do hit the market. The good news for buyers is that they should start to see more homes listed now that Easter is behind us.”Homes that sold during the period were on the market for a median of 23 days, the shortest time on the market since 2012 and 15 days fewer than the same period in 2020.More on Fanniemae.comThe economists at Fannie Mae echoed the commentary from team Redfin, saying that while the magnitudes were somewhat greater than anticipated, most housing-related metrics pulled back sharply in February as expected due to harsh weather and the related power outages.New home sales fell 18.2% over the month while pending sales declined by 10.6%. Existing home sales, which lag contract signings by about 30 to 45 days, on average, will therefore likely be considerably weaker in March and perhaps April.”However, we believe a strong rebound is likely to follow,” they added.The full Fannie Mae Economics Report is available at Fanniemae.com.The full Redfin report is available at Redfin.com. Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Storms, Holidays, and COVID-19 Shaped March Housing Metrics Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post 2021-04-16 Christina Hughes Babbcenter_img Home / Daily Dose / Storms, Holidays, and COVID-19 Shaped March Housing Metrics Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago April 16, 2021 5,630 Views About Author: Christina Hughes Babb The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Related Articles The median home sale price hit an all-time high, reaching $341,250, which is a 17% increase from last year at this time, according to a report from Redfin. Meanwhile, the economic team at Fannie Mae upgraded its quarterly home price forecast to 8.0% in 2021 (previously 4.2%), followed by deceleration to 2.9% in 2022 (previously 2.5%), as measured by the FHFA Purchase-Only Index.It’s important to note that at this time last year homebuying came to a halt, or at least a pause, due to pandemic stay-home orders and recommendations.Thus, Team Redfin broke its analysis into two sections: “Metrics that are acceptable to compare to the same period in 2020, and metrics for which it makes more sense to compare to the same period in 2019.”Homebuyer demand: One of several housing market indicator charts available on Redfin.com Subscribelast_img read more

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Elderly couple’s home attacked in Strabane

first_img Google+ Twitter Google+ Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Calls for maternity restrictions to be lifted at LUH Almost 10,000 appointments cancelled in Saolta Hospital Group this week By News Highland – January 11, 2011 Elderly couple’s home attacked in Strabane Guidelines for reopening of hospitality sector published Pinterestcenter_img Facebook Newsx Adverts Police have confirmed that there has been an attack on the home of an elderly couple in Strabane.Up to five people wielding iron bars smashed the front door and windows of their house in the Townsend area.The owner of the house was attacked when he gave chase. RELATED ARTICLESMORE FROM AUTHOR WhatsApp Three factors driving Donegal housing market – Robinson Twitter Previous articleCouncillor Rena Donaghey’s name in hat for election nominationNext articleTanaiste says new Higher Education Strategy is good news for LYIT News Highland Pinterest NPHET ‘positive’ on easing restrictions – Donnelly last_img read more