Tennessee District Court Affirms Legality of MERS’ Role in a Securitized Mortgage

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Sign up for DS News Daily Previous: DocMagic Names New Chief Compliance Officer Next: FHFA Announces Final Rule for Fannie Mae, Freddie Mac Affordable Housing Goals August 19, 2015 1,335 Views The Best Markets For Residential Property Investors 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Tennessee District Court Affirms Legality of MERS’ Role in a Securitized Mortgage Demand Propels Home Prices Upward 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago MERSCORP Holdings won another victory in court this week when 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, according to an announcement from MERS.In the case of Johnson v. Broker Solutions, Inc., plaintiffs identified 11 causes of action in attacking the securitization of their mortgage loans and argued that MERS cannot be a real party in interest in a securitized mortgage. The plaintiffs relied on a third party “property securitization analysis report” as the basis for their allegations.U.S. Magistrate Judge John S. Bryant denied the plaintiffs’ assertion of MERS’ role in the securitized mortgage, citing the case of Dauenhauer v. Bank N.Y. Mellon. The ruling in that case stated that “[c]ourts nationally, including Tennessee’s, have consistently approved MERS’ role in loans when designated as the nominee and beneficiary under a deed of trust.” Bryant ruled that “the role of MERS was valid” because the plaintiffs’ deed of trust named MERS as nominee and beneficiary, according to the MERS announcement.”We are pleased that the district court relied on case law that has consistently upheld MERS’ role as nominee and beneficiary under a deed of trust,” MERSCORP Holdings VP for Corporate Communications Janis Smith said.Bryant also cited a “flood of cases” in which courts ruled in MERS’ favor amid similar claims from plaintiffs involving “certified forensic audit” or “property securitization analysis reports.” One of those cases was decided earlier in August, Renfroe v. Flagstar Bank. In that case, the U.S. District Court for the Western District of Tennessee found that Renfroe’s complaint had been copied verbatim from a generic online complaint and affirmed MERS’ role as nominee and beneficiary of the deed of trust. Judge Todd J. Campbell, after adopting Bryan’s report and recommendation, dismissed the case on August 11.In early August, MERSCORP was awarded a victory in U.S. Court of Appeals for the Third Circuit, which ruled that MERSCORP 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 The Best Markets For Residential Property Investors 2 days ago MERS MERSCORP Holdings Mortgage Securitizations Tennessee 2015-08-19 Brian Honea Tagged with: MERS MERSCORP Holdings Mortgage Securitizations Tennessee Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles  Print This Post Home / Daily Dose / Tennessee District Court Affirms Legality of MERS’ Role in a Securitized Mortgage Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

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NAHB Announces Plans to Endorse Congressional Candidates

first_img Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Related Articles Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago For the first time in their 74-year history, the National Association of Home Builders (NAHB) has recently announced that they are officially endorsing candidates for the U.S. House and Senate in the upcoming November 8 elections.”Our rational is that as we have come out of the Great Recession, we have taken very strong note of the fact that as the housing industry burned, Congress fiddled and we are of the mindset now that the next congress needs to look at housing seriously, recognizing its importance to both the economy and to the social fabric of our country and take actions that are long overdue,” says NAHB CEO, Jerry Howard.When the 115th Congress convenes in Washington early next year, NAHB shares that there will be plenty of unfinished housing business awaiting lawmakers. According to the announcement, NAHB believes that Congress must focus on reforming and streamlining the regulatory process and ensuring that any tax reform efforts protect vital housing tax incentives that are needed to keep housing and the economy moving forward. They also believe Congress needs to work on easing tight credit conditions for home buyers as well as enacting comprehensive housing finance reform.“As housing goes, so goes the economy,” says NAHB Chairman Ed Brady, a home builder and developer from Bloomington, Illinois “This election could determine if the housing and economic recovery stays on track or veers off course. The incumbents and candidates from both political parties that NAHB will be endorsing have all exhibited a commitment to advance policies that will promote homeownership and rental housing opportunities for all Americans.”The announcement states that in the coming days and weeks, NAHB will be working with its state and local home builders associations to coordinate announcing the endorsements. They share that a full list will be available after all the endorsements have been finalized.“The housing recovery has been sluggish at best and that is in large part due to the failure of our elected officials to act on some very important issues so we’ve decided to look at each and every congressional race with our local associations in those districts and determine whether or not there is either a candidate or an encompass that is worthy of our endorsement,” says Howard. “It is an endorsement that is based upon their pro-housing stance regardless of what party they are a member of.”Additionally, the NAHB states that it does not endorse candidates for president. NAHB Announces Plans to Endorse Congressional Candidates Tagged with: Congress elections NAHB Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / NAHB Announces Plans to Endorse Congressional Candidates September 20, 2016 1,254 Views Sign up for DS News Daily Share Savecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Kendall Baer Data Provider Black Knight to Acquire Top of Mind 2 days ago Congress elections NAHB 2016-09-20 Kendall Baer Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: August Brings Increases for Numerous Default Rates Next: Chase Announces Promotions in Originations Businesslast_img read more

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Familiar Territory: Foreclosures Return to Pre-Crisis Levels

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save At 1 percent, the rate of all mortgages that are in active foreclosure fell to its lowest point in nine years, according to Black Knight’s First Look at September 2016 Mortgage Data.Month-over-month, the number of active foreclosures dropped 3.38 percent but it was year-over-year where the truly substantial decrease was seen, 31.23 percent. Total foreclosure starts fell to 61,700 this month, a decrease of 10.32 percent from the previous month and 22.78 from the year prior. Likewise, foreclosure sales decreased 5.82 percent from August to 2.03 percent. This was an increase though from last year by 2.47 percent.September’s less-than-one-percent seasonal increase in the delinquency rate was relatively mild by historical standards, but was still a decline from last year’s level by 12.24 percent.The number of properties that are 30 or more days past due but not in foreclosure rose by 14,000 from August to a total of 2,165,000. Despite the slight incline, this was a strong decline of 292,000 properties from the year prior. The number of properties that are 90 or more days past due but not in foreclosure dropped down both month-over-month and year-over-year to hit 668,000 properties.The top five states with the highest percentage of combined foreclosures and delinquencies included Mississippi with 11.16 percent, Louisiana with 10.32 percent, New Jersey with 8.13 percent, Alabama with 7.85 percent, and West Virginia with 7.72 percent.In contrast, the five states with the lowest percentage of foreclosures and delinquencies included South Dakota with 2.95 percent, Montana with 2.88 percent, Minnesota with 2.75 percent, Colorado with 2.44 percent, and North Dakota with 2.23 percent. Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Kendall Baer Sign up for DS News Daily Black Knight Financial Services First Look at Mortgage Data 2016-10-24 Kendall Baer Related Articles Tagged with: Black Knight Financial Services First Look at Mortgage Data Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Familiar Territory: Foreclosures Return to Pre-Crisis Levels Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. The Week Ahead: Nearing the Forbearance Exit 2 days ago October 24, 2016 1,343 Views Home / Daily Dose / Familiar Territory: Foreclosures Return to Pre-Crisis Levels  Print This Post The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: International Group Acquires Genworth Financial Next: The Hidden Benefit of Student Loan Debt to Homebuying Subscribelast_img read more

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Equity To Borrowers Hits 11-year High

first_img The Best Markets For Residential Property Investors 2 days ago Share Save Previous: The Week Ahead: Hope For Credit Growth Next: CFPB Defends Its Own Constitutionality in Daily Dose, Featured, Market Studies April 3, 2017 1,864 Views Home / Daily Dose / Equity To Borrowers Hits 11-year High About Author: Scott Morgan  Print This Post Tagged with: Black Knight Home Equity homeowner HOUSING mortgage Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Related Articles Equity To Borrowers Hits 11-year Highcenter_img The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Black Knight Home Equity homeowner HOUSING mortgage 2017-04-03 Rachel Williams Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. Continued increases in home prices is driving a the strongest equity market in a decade, according to the latest Mortgage Monitor Report by Black Knight Financial Services. The report, looking at February numbers, found that appreciation nationally has generated $4.7 trillion in equity available to borrowers, the highest it’s been since 2006.Appreciation is also having a profound effect on the number of underwater borrowers, Black knight reported. An annual home price appreciation of 5.5 percent in 2016 helped raise number of U.S. mortgage holders with tappable equity to 39.5 million. Two thirds of that equity belongs to borrowers with current interest rates below today’s 30-year interest rate, and 78 percent belongs to borrowers with credit scores of 720 or higher.Overall, Black Knight reported, the total U.S. loan delinquency rate in February was 4.21 percent, a 1 percent drop from January. Mississippi, Louisiana, Alabama, West Virginia, and New Jersey had the highest rates of delinquency; Idaho, Montana, Minnesota, Colorado, and North Dakota had the lowest.Ben Graboske Black Knight executive vice president for Black Knight’s Data & Analytics division, said that the current equity landscape, in conjunction with a higher interest rate environment, will likely affect mortgage lending trends over the coming year.“December 2016 marked 56 consecutive months of annual home price appreciation,” Graboske said. “That served to not only lift an additional one million formerly underwater homeowners back into positive equity throughout the year, but also increased the amount of tappable equity available to U.S. mortgage holders by an additional $568 billion.”The nearly 40 million homeowners with tappable equity have current combined loan-to-value ratios of less than 80 percent, Black Knight reported. And cash-out refinance data suggests that they have been increasingly tapping that equity, though perhaps more conservatively than homeowners had in the past.In Q4, $31 billion in equity was extracted from the market via first lien refinances. While that was the most equity drawn in over eight years, borrowers are still tapping equity at less than a third of the rate they were back in 2005, and they’re doing so more prudently. Post-cash-out loan-to-value-ratio was 65.6 percent, the lowest on record.However, Graboske said, prepayment speeds, historically a good indicator of refinance activity, have dropped by nearly 40 percent since Jan.1, in the face of today’s higher interest rate environment.“The last time interest rates rose as much as they have over the past few months, we saw cash-out refinances decline by 50 percent, but rate-term refinances decline by 75 percent,” he said. “Based on past behavior, we may see a decline in first lien cash-out refinance volume, but it’s still likely that cash-out refinances‒‒and purchase loans‒‒will drive the lion’s share of prepayment activity over the coming year in any case. 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 Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

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Cities May Sue Banks Over Foreclosure, Industry Reacts

first_imgHome / Daily Dose / Cities May Sue Banks Over Foreclosure, Industry Reacts  Print This Post Cities May Sue Banks Over Foreclosure, Industry Reacts Data Provider Black Knight to Acquire Top of Mind 2 days ago Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer. In a 5-3 decision on Monday, the U.S. Supreme Court determined that cities can sue banks over lost tax revenue on foreclosed properties from urban blight. Law360 reported that Miami has the standing to sue Bank of America Corp. and Wells Fargo & Co. under the Fair Housing Act, stating that the banks’ discriminatory and predatory lending practices led to a major shortfall in city tax revenues.The final ruling is not up to the high court, however, as the Supreme court sent the case back to the Eleventh District, in order to determine whether the banks’ lending practices were “proximate cause” for the damages. Law360 reported that all eight justices rejected the probable cause argument.“The ruling is clearly a concern for lenders who believed cities did not have sufficient standing in order to assert claims that are more appropriate to be brought by the ultimate aggrieved parties, which should be the borrowers, assuming of course the allegations are true,” said Shaun K. Ramey, Shareholder, Sirote and Permutt, P.C. “That being said, although the Court granted cities the right to file suit, they set a high bar for proving proximate causation so the impact of the Supreme Court’s decision may not be as broad as it appears at first blush.”The Court found that the city’s claims fell within the “zone of interests” established by the Fair Housing Act (FHA), which means that Bank of America and Wells Fargo’s practices had led to decreases in tax revenue and increased costs for maintaining foreclosed properties.“The city will be required to show that the claimed damages were ‘proximately caused’ by the violation of the FHA,” said Roy A. Diaz, Managing Shareholder, SHD Legal Group. “The Court recognizes that Congress did not intend the FHA to provide a remedy for ‘ripples of harm’ that may flow from a violation of the FHA. The majority establishes that the FHA requires some direct relation between the injury asserted and the conduct alleged.”Justice Clarence Thomas dissented, saying that the FHA does not allow for expanded claims.“Nothing in the text of the FHA suggests that Congress was concerned about decreased property values, foreclosures, and urban blight, much less about strains on municipal budgets that might follow,” said Justice Thomas.The banks will not be held liable until the Eleventh Circuit can determine whether the bank’s actions have caused the foreclosures.”The Eleventh Circuit grounded its decision on the theory that proximate cause under the FHA is ‘based on foreseeability’ alone. We therefore lack the benefit of its judgment on how the contrary principles we have just stated apply to the FHA. Nor has any other court of appeals weighed in on the issue,” the majority opinion said. Foreclosure Miami Supreme Court 2017-05-01 Seth Welborn Subscribe About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Foreclosure, News Servicers Navigate the Post-Pandemic World 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Foreclosure Miami Supreme Court Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Fannie Portfolio Sees Monthly Jump Next: Mnuchin: ‘I’m Committed to Housing Reform’ Share Save May 1, 2017 1,617 Views Demand Propels Home Prices Upward 2 days agolast_img read more

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High End Retail Locations Indicating Hot Markets

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post in Daily Dose, Featured, Market Studies, News Subscribe As real estate agents say, “location, location, location”—and that means if you’re located near a Whole Foods or Trader Joe’s, according to research from Zillow.Previously, Zillow’s research showed that homes near a Starbucks appreciated quicker than homes near a Dunkin’ Donuts, but now they are finding that, based on 375 Whole Foods locations and 451 Trader Joe’s, the gap between home values near these stores and the typical U.S. home is even more pronounced than that of Starbucks.In order to research this information, Zillow took a one-mile radius around the selected stores to get 1.3 million total homes near Whole Foods and 1.5 million for Trader Joe’s and then they tracked the median value of the homes. Generally, homes near Trader Joe’s were $406,600 at the end of 2014 and appreciated 148 percent between 1997 and 2014. Homes near Whole Foods appreciated 140 percent to a median $376,200. Of course, these are high priced areas considering the median U.S. home was worth $176,800 as of December 2014 with appreciation of 71 percent, but Zillow also analyzed the appreciation rates both before and after these mega natural food stores were built.Zillow found 190 Whole Foods and Trader Joe’s that had not been opened yet and ruled out the neighborhoods that had any less than three years of data surrounding the opening date. After that, of the 40 Trader Joe’s and 40 Whole Foods, they found homes before opening appreciated at the same pace or slower than typical homes in that particular city. Once they opened, homes began appreciating faster than the average home.Zillow concluded that since the two aren’t piggybacking off already successful neighborhoods, either they are smart at picking neighborhoods or it truly is the opening of one of the locations that impacts home values. Home / Daily Dose / High End Retail Locations Indicating Hot Markets Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles About Author: Brianna Gilpin High End Retail Locations Indicating Hot Markets Previous: Lenders Loosen Risk Standards as Rates Rise Next: Risk of Default Jumps in Q1, Q2 Data Provider Black Knight to Acquire Top of Mind 2 days ago 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] Share Save Sign up for DS News Daily June 20, 2017 1,722 Views Servicers Navigate the Post-Pandemic World 2 days ago 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 The Best Markets For Residential Property Investors 2 days ago 2017-06-20 Brianna Gilpin The Best Markets For Residential Property Investors 2 days agolast_img read more

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More Time for the National Flood Insurance Program

first_img Previous: The Growing Problem With Household Debt Next: Fannie Mae Announces $822M Non-Performing Loan Auction Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago May 15, 2019 2,323 Views The Best Markets For Residential Property Investors 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily 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. The U.S. House of Representatives passed four bills on Tuesday offered by House Financial Services Committee Members, including H.R. 2578, the National Flood Insurance Program Extension Act of 2019.The piece of legislation was introduced by Congresswoman Maxine Waters (D-CA), Chairwoman of the House Financial Services Committee, and Congressman Patrick McHenry (R-NC). The bill extends the National Flood Insurance Program’s (NFIP) authorization to Sept. 30.Authorization was due to expire on May 31.“The NFIP plays an important role in disaster preparedness and resiliency by providing flood maps, setting standards for floodplain management, and investing in mitigation for our homes, businesses, and infrastructure. According to the Federal Emergency Management Agency, everyone is at risk of flooding,” Waters said of the bill. “That means that this is not just a coastal issue—we all have an interest in ensuring a strong National Flood Insurance Program.Waters added a “long-term re-authorization” was needed to provide certainty to homeowners and businesses. She also said more needs to be done to address unaffordable premium costs for low-income households, the program’s debt and lower costs of fees on policyholders.“Secondly, we need to invest more heavily in mapping, floodplain management, and mitigation, which will save taxpayer dollars in the long run by helping to reduce the damage that occurs when floods hit,” Waters said.She added that work must be done to ensure there are safeguards in place for “greater accountability and oversight,” as Hurricane Sandy exposed issues in claims processing and fraud.The issue of flood insurance was raised by a ValuePenguin.com report earlier this month, which found just 7% of homeowners have a flood insurance policy, despite floods being the most common natural disaster.The ValuePenguin report stated that 44% of homeowners in Louisiana have flood insurance, which is the highest in the nation. Louisiana was followed by Florida ( 36%), Hawaii (23%), South Carolina (16%) and New Jersey (11%).Minnesota and Utah have the lowest rate of flood insurance at 0.6%. Rhode Island, Connecticut, Vermont, Massachusetts and Pennsylvania are the most expensive states to purchase flood insurance, with premiums 69-100% more than the national average.The average cost of a flood insurance policy through the NFIP is $699 a year. Tagged with: Flood Insurance House Finances Services Committee National Flood Insurance Program Rep. Maxine Waterscenter_img Related Articles About Author: Mike Albanese Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / More Time for the National Flood Insurance Program More Time for the National Flood Insurance Program Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Flood Insurance House Finances Services Committee National Flood Insurance Program Rep. Maxine Waters 2019-05-15 Mike Albaneselast_img read more

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A Focus on REO Performance

first_img Tagged with: Asset Disposition Fannie Mae Five Star Conference FORCE HOUSING REO  Print This Post About Author: Radhika Ojha in Daily Dose, Featured, News, REO The Best Markets For Residential Property Investors 2 days ago On Monday, September 23, the nation’s qualified residential agents and brokers assembled at the Hyatt Regency in Dallas, Texas, for the FORCE Rally on the opening day of the 16th annual Five Star Conference. The FORCE Rally is one of the most anticipated and exclusive events in REO.The session was hosted by the Five Star Federation of REO Certified Experts (Five Star FORCE), a member organization comprised of pre-screened, certified, and experienced REO agents. The FORCE Rally began with the FORCE Power Hour, an hour-long networking session. This was followed by the FORCE Rally that consisted of several short presentations and panels featuring subject-matter experts from across the industry.“Let’s stay relevant, stay informed,” said Terry Rasner-Yacenda, Broker/Owner, Reno/Tahoe Realty Group, LLC and Five Star FORCE Chairperson. “Take the time to talk and network with each other.”Running from 3–4 p.m. CDT, the Power Hour saw REO agents personally collaborating with potential clients from the asset management, investment, servicing, and government communities in order to grow their business. Participants included industry leaders and REO experts speaking at the FORCE Rally.The FORCE Rally began with FORCE Executive Director Annie Collier opening up the session with welcome remarks, followed by a State of the FORCE presentation from event moderator Terry Rasner-Yacenda.Next up was the “State of the Market: Where Housing Is Headed,” a presentation by Ed Delgado, President and CEO, Five Star Global on what the coming year had in store for the housing industry while delving deep into the state of the market to prepare attendees for the challenges and opportunities that would impact the industry. “A confluence of factors came together in 2008,” Delgado said. “You simply don’t have these conditions today.”Moderated by Rob Pajon, SVP, RES.NET, the next session titled “Coveted Contracts: Gaining an Edge in Asset Disposition” featured insights from James Banford, CEO, READ Real Estate Asset Disposition, Andrew Oliverson, SVP, REO Sales, Green River Capital, and Rida Sharaf, SVP of Operations, USRES on their greatest challenges and what they value in agent/broker partnerships.“Don’t say you’re a number one agent, instead describe your niche area and specialty,” Pajone said.In “Accelerate Your Business: Updates From the FORCE Advisory Council,” the FORCE advisory council discussed how to expand the scope and profitability of an REO business. The panel moderated by Terry Rasner-Yacenda, Broker/Owner, Tahoe Realty Group, featured Nancy Braun, Broker/Owner, Showcase Realty LLC; Jim Hastings, Broker/Owner, Hastings Brokerage; Justine Jimenez Garcia, Broker/Owner, Countywide Properties; Donato Orsini, Broker/Owner, Stone Tower Realty; Steven Pagano, Broker, First Hawaiian Realty; and Regina Shaw, Broker Associate, Intero Real Estate Services. It covered critical topics such as driving revenue through diversification, securing more listings and referrals, and taking advantage of new REO technologies.In the final session, Jason Thiele, Director of Real Estate Sales, Fannie Mae gave the audience an update on the latest GSE news for REO professionals who work with the Enterprises.The 2019 FORCE Rally was sponsored by Home Depot Renovation Services and Island Advantage Realty, LLC. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / A Focus on REO Performance Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Previous: A New Alternative to Affordable Housing? Next: Xactware and RES.NET Partner for Digital Asset Management A Focus on REO Performance The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Asset Disposition Fannie Mae Five Star Conference FORCE HOUSING REO 2019-09-23 Radhika Ojha September 23, 2019 1,906 Views Demand Propels Home Prices Upward 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 Related Articles Sign up for DS News Daily last_img read more

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Rental Investors Take Interest in Tiny Homes

first_img Rental Investors Take Interest in Tiny Homes Servicers Navigate the Post-Pandemic World 1 day ago Home / Daily Dose / Rental Investors Take Interest in Tiny Homes Subscribe December 14, 2020 1,161 Views Data Provider Black Knight to Acquire Top of Mind 1 day ago Fidelity National Financial tiny house 2020-12-14 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 1 day ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Save Tagged with: Fidelity National Financial tiny house Related Articles About Author: Christina Hughes Babbcenter_img Demand Propels Home Prices Upward 1 day ago  Print This Post The Best Markets For Residential Property Investors 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 1 day ago Tiny houses are not new, but COVID-19 and resultant lifestyle changes are making the movement more popular, according to IPX1031, a Fidelity National Financial Company blog, which conducted a survey of 2,000 Americans to understand how likely they would be to live in a tiny home. The researchers also looked into regions of the country with optimal tiny-home markets for both homebuyers and investors.”Even though the micro home movement isn’t necessarily new, many have put tiny homes on their radar since COVID-19,” note those who conducted the study.Affordability was the top reason for survey respondents who answered that, yes, they would consider purchasing a tiny house (more than half).65% cited affordability; 57% said “efficiency” would be a motivating factor; 48% said “eco-friendliness” would be a factor; and “living a minimalist lifestyle” rounded out the list of top tiny-house selling points. Also listed: Downsizing (36%), mobility (35%), and privacy (29%)Among the respondents who have never owned a home, 86% said a tiny home could be a contender for their first home purchase.What constitutes a tiny house? They can be on wheels or stationary (abut 54% of respondents said they would prefer the more-mobile option). They generally are less than 400 square feet and range in price from $30,000-$60,000 (whereas the average median price for a typical starter home is $233,400, according to the National Association of Realtors.Half of those surveyed say they would spend less than $40,000 on a tiny home and 79% say they would be able to buy or finance a tiny home rather than a traditional starter home.The low cost and maintenance mean tiny houses present an attractive opportunity to investors, according to the survey. Of the study participants, 72% said they would consider buying a tiny house as an investment property. Among them, 63% reportedly envision a long-term rental opportunity; 37% say they would see it as a short-term rental. On average, potential investors who responded to the survey said their ideal monthly rent would be $900 per month for a long-term rental and $145 per night for a short-term rental.The study also revealed which states had the best markets/highest demand for tiny homes. Those included:VermontNew HampshireMaineWyomingWashingtonIdahoMontanaOregonRhode IslandAlaskaRead the study in full at ipx1031.com.  The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 1 day ago in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Foreclosures May Be Subject to ‘Drastic Changes’ Next Year Next: Possible Solutions for Borrowers Unable to Make Paymentslast_img read more

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Fudge, Calabria Discuss Housing Affordability, Equity, and More

first_img Fudge, Calabria Discuss Housing Affordability, Equity, and More About Author: Christina Hughes Babb  Print This Post 2021-04-20 Christina Hughes Babb April 20, 2021 997 Views 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 The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days 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. Home / Daily Dose / Fudge, Calabria Discuss Housing Affordability, Equity, and More Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Examining the Racial Divide in Home Sales Next: FHFA Extends COVID-Related Loan Flexibilities Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Two U.S. government agency members who hold positions vital to the housing finance world Tuesday addressed mortgage bankers attending a virtual conference. Back-to-back, U.S. Department of Housing and Urban Development (HUD) Secretary Marcia Fudge and Mark Calabria, Federal Housing Finance Administration (FHFA) Director who oversees government-sponsored agencies (GSEs) Fannie Mae and Freddie Mac, took the stage at the Mortgage Bankers Association’s (MBA) 2021 Spring Conference and Expo.  Fudge says that during recent months millions of households have fallen behind on mortgage payments. She says she is happy to report that help is on the way in the form of the Biden-Harris administration’s American Rescue Plan Act of 2021, which addresses several housing-related issues including expanding housing opportunities and reducing the racial wealth gap. “[The plan] will deliver nearly $10 million to help homeowners avoid foreclosure, and nearly four and a half-billion dollars to help struggling households afford electricity, heat, and other utilities,” Fudge said.  Being new to the role, Fudge is just getting started, but she has announced ambitious plans for ensuing years. She says creating more housing opportunities is imperative, especially for those who historically have been treated unfairly. “Owning a home is still the best way to build wealth, yet the reality is that for too many people that dream of buying a home is becoming more and more difficult to attain,” she said. “This is especially true for African Americans. In fact, the homeownership gap between black and white families is wider today than it was in 1960, which banks could still legally discriminate against borrowers based on the color of their skin.” She goes on to say that the President’s infrastructure plan, which calls for major new investments into our housing sector, is evidence of the administration’s commitment to providing a path to homeownership for more Americans.  It is long past the time for our country to fully realize the promise of fair housing, Fudge said. “Our department is committed to enacting an agenda rooted in fairness and equity. That means we must have an effective disparate impact to combat housing discrimination.”  Fudge expressed gratitude to the mortgage banking industry, acknowledging that its members “play a vital role in making homeownership possible for millions of Americans.” Calabria followed Fudge on the virtual stage where he too applauded the industry and government-agency response to COVID-19 and its fallout. Referring to loan flexibilities, extensions, and other efforts to support borrowers, Calabria said he believes joint actions to keep people in their homes saved lives.  “I hope that’s something that we all, not lose sight of in the broader scheme of things,” he added. Still, he said, COVID is not over. “The full impact on our economy financial system and labor market still remains uncertain. This of course is why we at FHFA are hard at work making sure that our policies continue to respond to these challenges as they evolve.” He too acknowledged the racial homeownership gap and Fannie and Freddie’s role in creating housing opportunities. “I was very proud and delighted earlier this year to authorize Fannie and Freddie to contribute $1 billion dollars to the affordable housing trust funds, which is a record amount,” Calabria said.  The FHFA Director touched on the Preferred Stock Purchase Agreement (PSPA), an integral part of Fannie Mae and Freddie Mac’s government conservatorship. (By way of the PSPA, Treasury promised to invest in Fannie and Freddie’s equity up to very large amounts to minimize the likelihood of the GSEs ever having negative net worth, which effectively has restored market confidence in the enterprises). He advised listeners to see the PSPA as a line of credit, with accompanying restrictions. “I think it’s also worth remembering that the PSPS themselves are not meant to be permanent, these are temporary bridges to getting Fannie and Freddie fully capitalized.” As for Fannie and Freddie’s government-conservatorship status, Calabria said the FHFA is constantly considering input from the industry as it makes decisions.  “FHFA is continuing to put in place key regulations that support the enterprise’s safety and soundness and ability to fulfill their mission, across the economic cycle,” he said. “I encourage [mortgage bankers] to continue to engage with FHFA, provide your market insights to help us inform our work. Through all the changes and continuing challenges of 2021, I remain optimistic about what we can accomplish working together.”  Share 1Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Subscribelast_img read more

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