HUD Widely Praised For Amending HECM Program, Helping Seniors Avoid Foreclosure

first_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles About Author: Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago Those affected by the U.S. Department of Housing and Urban Development (HUD)’s decision on Friday, June 12, to allow servicers to allow surviving non-borrowing spouses in HUD’s reverse mortgage program to stay in their home if the mortgage was originated prior to August 4, 2014, widely applauded the Department’s decision on Monday.Following several lawsuits in which surviving spouses not listed on the mortgage note were facing foreclosure following the death of the borrowing spouse, HUD was instructed by a federal judge to amend its Home Equity Conversion Mortgage (HECM) program. The Department changed its policy in January, but the changes were criticized by advocates as too exclusive (for example, they applied only to reverse mortgages originated on or after August 4, 2014). On Friday, HUD amended its HECM policy again, this time to include reverse mortgages originated prior to August 4, 2014, giving borrowers expanded options to allow the non-borrowing spouse to remain in the home if the reverse mortgage was originated before that date.Friday’s changes to HUD’s HECM program will benefit thousands of senior homeowners, allowing them to stay in their homes following the death of the borrowing spouse and avoid facing foreclosure.According to a joint statement by many advocates that included National Consumer Law Center; California Reinvestment Coalition; Elder Abuse Program, Institute on Aging; National Housing Law Project; Sandy Jolley; and Housing and Economic Rights Advocates, “HUD’s new policy is welcome news for surviving non-borrower spouses, many of whom would otherwise be facing foreclosure. This news will be a huge relief for homeowners who are facing sale dates. We look forward to hearing from each of the reverse mortgage servicing companies as to whether or not they will use this new option to keep surviving spouses in their homes. It’s a common sense solution and we urge the reverse mortgage servicers to immediately adopt this policy for any at-risk homeowners.”Craig Briskin, a partner with Mehri & Skalet, PLLC, in Washington, DC, who has represented plaintiffs in several cases where non-borrowing, surviving spouses in HUD’s HECM program were faced with foreclosure, said on Monday, “We are thrilled that the lawsuits we filed beginning in 2011 on behalf of surviving spouses have helped to produce this excellent result. We have already heard from our clients, and other reverse mortgage borrowers and surviving spouses, about what a profound difference HUD’s new policy will make in their lives. Because of this new policy, seniors will no longer face foreclosure soon after they lose their spouses, adding misery to heartbreak. We stand ready to work with HUD and reverse mortgage lenders to ensure that all surviving spouses can stay in their homes, just as federal law requires.”Karen Hunziker, a surviving, non-borrowing spouse who is a plaintiff in a lawsuit against HUD to try and stop foreclosure in an HECM case, said, “This is good news, and I’m cautiously optimistic that my servicer will use this policy to allow me to remain in my home.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: FHFA Updates Congress on GSEs’ Progress On Foreclosure Prevention, NPL Sales Next: Fresh Off RMBS Deal of the Year Award, Fifth STACR of 2015 Priced at $950 Million Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Demand Propels Home Prices Upward 2 days ago HUD Widely Praised For Amending HECM Program, Helping Seniors Avoid Foreclosure Data Provider Black Knight to Acquire Top of Mind 2 days ago June 15, 2015 1,803 Views center_img in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / HUD Widely Praised For Amending HECM Program, Helping Seniors Avoid Foreclosure Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Tagged with: Foreclosure on Non-Borrowing Spouses HECM Home Equity Conversion Mortgages HUD Reverse Mortgages Foreclosure on Non-Borrowing Spouses HECM Home Equity Conversion Mortgages HUD Reverse Mortgages 2015-06-15 Brian Honea  Print This Post Subscribelast_img read more

Lawmakers Revisit Concern Over Potential Repeat of GSE Bailout

first_img The Best Markets For Residential Property Investors 2 days ago Related Articles Tagged with: Bailouts Fannie Mae Freddie Mac Systemically Important Financial Institutions in Daily Dose, Featured, News, Secondary Market Home / Daily Dose / Lawmakers Revisit Concern Over Potential Repeat of GSE Bailout 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 ago Share Save  Print This Post Previous: Counsel’s Corner: Dealing with Declines in Default Inventory Next: The Week Ahead: Yellen on the Hot Seat Not Once, but Twice About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img 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 Lawmakers Revisit Concern Over Potential Repeat of GSE Bailout Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Bailouts Fannie Mae Freddie Mac Systemically Important Financial Institutions 2016-02-05 Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago It has been more than seven years since Fannie Mae and Freddie Mac required a combined $187.5 billion taxpayer-funded bailout and were taken into conservatorship by the Federal Housing Finance Administration (FHFA).The conservatorships of the GSEs continue to this day, remaining a contentious issue. They returned to profitability in 2012, but since then all their profits have been swept into Treasury (the Net Worth Sweep) and those profits have sharply declined in the last two years.In April 2015, lawmakers raised concerns that the GSEs might need another bailout following a Dodd-Frank Stress Test that showed the GSEs would need a $157.3 billion bailout under hypothetical adverse economic conditions such as a 10 percent unemployment rate, a 4.5 percent decline in GDP growth, and a significant drop in long-term interest rates while short-term rates remain near zero. Also, the FHFA Inspector General issued a report last April warning that the profitability of the GSEs might not continue even though it is likely that the conservatorships will.Recently, lawmakers have raised concerns that another bailout might be necessary due to the GSEs’ zero capital requirement. Fannie Mae and Freddie Mac each have a capital buffer of $1.8 billion, but it is required to be reduced by $600 million per year until it reaches zero by 2018. Should the GSEs’ losses exceed their capital buffer, they would require a draw from Treasury. U.S. Reps. Stephen Lee Fincher (R-Tennessee) and Mick Mulvaney (R-South Carolina) wrote a letter this week to Treasury Secretary Jack Lew and FHFA Director Mel Watt asking the regulators to consider what effect the zero capital requirement will have on the economy and the potential risk it poses to taxpayers and the financial system. The lawmakers asked Lew and Watt what steps their respective Agencies can take in the near term to “rectify the situation.” They requested a reply by March 1.Fincher and Mulvaney noted that Fannie Mae and Freddie Mac have more than $5 trillion in securities outstanding yet are being required to deplete their capital reserves. Since the GSEs insure four out of every five mortgages in the United States, the taxpayers will be the ones that have to pay the cost if the financial system experiences a sudden shock or downturn. The Best Markets For Residential Property Investors 2 days ago February 5, 2016 1,126 Views Subscribelast_img read more

Reverse Mortgage Volume Hits Its Highest Point Since 2011

first_imgHome / Daily Dose / Reverse Mortgage Volume Hits Its Highest Point Since 2011 The Best Markets For Residential Property Investors 2 days ago Previous: $1.5 Trillion Worth of U.S. Homes Threatened by Wildfires Next: Top 5 Cities to Rent and to Own a Home About Author: David Wharton Reverse mortgage numbers spiked in January 2018, clocking in a 32.5 percent month-over-month growth in endorsements over December 2017, according to the latest data from Reverse Market Insight, Inc. (RMI) That would be noteworthy in and of itself, but that January increase also marked the best month for the reverse mortgage industry since March 2011, with Federal Housing Administration-approved (FHA) reverse mortgage lenders logging 6,313 endorsements in January. Reverse Market Insight also notes that January saw 48 new lenders enter the reverse mortgage lending field.For comparison’s sake, RMI reported 4,765 reverse mortgage endorsements in December 2017; 4,837 in June 2017; and 4,426 in February 2017.Reverse Mortgage Daily points out that some of this bump can likely be attributed to changes made by the Department of Housing and Urban Development (HUD) in October 2017, which “instituted lower principal limits and a new mortgage insurance premium structure.” RMI suggests the surge of applicants trying to beat that deadline has given the reverse mortgage numbers a bump that will diminish in the months to come.RMI’s analysis predicts that a reverse mortgage dropoff is likely on the horizon. The RMI analysis states, “We’ll see next month if that’s the peak endorsement month for this latest product change, but we already know subsequent volume will be greatly reduced given the much lower application and case numbers issued figures after September.”How much of a decline could be coming? RMI President John Lunde told Reverse Mortgage Daily in January that he believed endorsement volume for reverse mortgages could plummet by 25 percent to 30 percent.According to RMI, FHA-approved lenders logged 56,912 endorsements during calendar year 2017, up significantly over 48,794 in 2016. The top reverse mortgage lenders, according to RMI, include American Advisors Group (13,033 endorsements between February 2017 and January 2018), Finance of America Reverse LLC (5,676 endorsements), Reverse Mortgage Funding LLC (4,783 endorsements), Liberty Home Equity Solutions Inc. (3,853 endorsements), and Synergy One Lending Inc. (3,471 endorsements). The Week Ahead: Nearing the Forbearance Exit 2 days ago FHA HUD Reverse Market Insight Reverse Mortgages 2018-02-05 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post in Daily Dose, Featured, Headlines, Journal, Market Studies, News Reverse Mortgage Volume Hits Its Highest Point Since 2011 Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Tagged with: FHA HUD Reverse Market Insight Reverse Mortgages Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago February 5, 2018 2,251 Views 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 Subscribelast_img read more

Cities That Stress Less … and More

first_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines, Journal, Market Studies, News 2018-07-23 Alison Rich Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Cities That Stress Less … and More The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Alison Rich Alison Rich has a long-time tenure in the writing and editing realm, touting an impressive body of work that has been featured in local and national consumer and trade publications spanning industries and audiences. She has worked for DS News and MReport magazines—both in print and online—since they launched. Related Articles  Print This Post Subscribecenter_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Cities That Stress Less … and More Share 100Save While a little bit of stress can actually be beneficial in certain instances, too much can affect your health and well-being. Nearly everyone feels stressed-out at some point, but there seem to be certain cities where citizens cope better than others, so suggests WalletHub in a new study.Let’s take a peek at the stress-related data that WalletHub parsed. In the United States, stress affects upwards of 100 million people, it reports. Money fronts the list of causes, with work, family, and relationships bringing up the rear. And speaking of money and work, workplace-related stress alone costs society over $300 billion annually, according to the report. So it’s little wonder that finding a Zen-like zone to call home is a great idea for many reasons.To pinpoint the places where Americans deal best with stress, WalletHub compared 182 cities across four dimensions: work stress, financial stress, family stress, and health and safety stress. It then analyzed those dimensions across 37 relevant metrics spanning from average weekly work hours to debt load, divorce, and suicide rates, to name a few. Each metric was graded on a 100-point scale, with a score of 100 representing the highest levels of stress.The least-stressed city in the nation, according to WalletHub: Fremont, California, with a total score of 25.93 on the stress scale. Rounding out the top 10 are Bismarck, North Dakota, charting a 26.6, followed by Sioux Falls, South Dakota (28.16); Overland Park, Kansas (29.66); South Burlington, Vermont (30.15); Scottsdale, Arizona (30.28); Irvine, California (30.52); San Jose, California (31.88); Madison, Wisconsin (32.1); and Lincoln, Nebraska (32.15).On the contrary, the city topping out as the most stressed-out on WalletHub’s ranking: Detroit, Michigan, which garnered a total score of 63.53. Next comes Newark, New Jersey, with a 62.8, trailed by Cleveland, Ohio (60.81); Birmingham, Alabama (58.03); Toledo, Ohio (57.42); Baltimore, Maryland (56.94); Wilmington, Delaware (55.25); Milwaukee, Wisconsin (55.02); Gulfport, Mississippi (54.82); and St. Louis, Missouri (53.57). Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago July 23, 2018 1,664 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Cost of Rental Scams Next: Underinsured and Underwater: Preparing for Disasterlast_img read more

Fitch Assigns Additional Servicer Ratings for PHH

first_img Fitch Assigns Additional Servicer Ratings for PHH Share Save  Print This Post in Daily Dose, Featured, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Fitch HELOC PHH Ratings second-lien servicer Servicing 2018-09-10 Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago About Author: Radhika Ojha Tagged with: Fitch HELOC PHH Ratings second-lien servicer Servicing Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Previous: The Weight of Millennial Debt Next: BCFP Streamlines Advisory Committees Demand Propels Home Prices Upward 2 days agocenter_img 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. After being assigned an RPS3 rating as a residential primary servicer for its prime product in August, PHH Mortgage was assigned additional servicer ratings by rating agency Fitch on Monday. Fitch said that the servicer’s assigned ratings and Stable Outlook reflected the company’s experienced senior management staff, enterprise-wide risk environment, compliance protocols and investments in its servicing technology.The additional RPS 3 U.S. residential primary servicer rating was given to PHH for its Alt-A, subprime, and HELOC products as well as for being a special servicer and its specialty closed-end second lien operations.According to Fitch, it reviewed PHH’s financial statements to provide an internal assessment as a company’s financial condition is one of the components on which Fitch servicer ratings are analyzed.”PHH has a robust enterprise risk management hierarchy in place with multiple components embedded in the framework to identify, monitor, and address risk including proactive change management processes, quality assurance, and quality control protocols and a multi-dimensional testing program,” Fitch said. “PHH utilizes a hybrid model for internal audit where oversight is retained among a small group of auditors internally and the bulk of audit work is co-sourced to a third party auditing firm.”In February 2018, the company announced its planned merger with Ocwen Financial Corp. “The companies are currently targeting closing the transaction in the third quarter of 2018. The merger includes migrating Ocwen’s loan portfolio from its legacy proprietary system onto PHH’s system, which utilizes Black Knight Mortgage Processing Solutions (BKMPS) and LoanSphere Mortgage Servicing Package (MSP),” a statement from Fitch said, adding that the rating agency believed that the potential synergies realized with the merger, including an enhanced technology environment, best practices developed for compliance, audit, and loan servicing processes, as well as multi-layered disaster recovery and business continuity contingencies, could prove beneficial if developed properly in the resulting single entity.   Demand Propels Home Prices Upward 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Fitch Assigns Additional Servicer Ratings for PHH Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles September 10, 2018 2,276 Views The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

TMS Sells Originations Business to AmeriSave

first_img The Best Markets For Residential Property Investors 2 days ago New-York based fintech and mortgage company The Money Source Inc. (TMS) announced that it had sold its originations business to Atlanta-based AmeriSave Mortgage Corporation. According to the agreement, AmeriSave will assume TMS’ offices in Plano, Texas and Chandler, Arizona. TMS said that AmeriSave would also welcome TMS employees associated with this business into its fold.“This is a perfect fit. AmeriSave brings years of delivering a truly exceptional, tech-forward experience to homeowners during originations as we do at TMS in servicing customers for the life of the loan,” said Darius Mirshahzadeh, CEO of TMS. “We feel good knowing that they will take great care of our customers and our people while we double down on being the world’s best servicer.”For AmeriSave, the acquisition marks the company’s efforts to scale its loan originations business with the company expected to generate an originations volume of $1.5 billion in 2019 through this business.“We are excited to welcome the TMS originations team and business to AmeriSave,” said President Mike Berte. “While we had a strong 2018, this acquisition kickstarts 2019, allowing us to expand our market share, add talented mortgage professionals in two terrific markets, and help more people realize the dream of homeownership.”TMS said that the acquisition was a strategic move for the company as it moved its focus to servicing through its customer service platform Servicing Intelligence Made Easy (SIME), and take a vertical approach to its core businesses. “We are widely recognized as having the most advanced subservicing technology platform in the business,” said Mirshahzadeh. “Transitioning originations to a pro like AmeriSave makes perfect business sense. Now, we can champion our clients’ success and deliver what the industry so desperately needs–a world-class customer servicing platform and stellar loan performance–that we at TMS are so uniquely positioned to deliver.”For the last 1o years, AmeriSave has invested heavily in its propriety technology creating a highly automated loan originations system that removes the friction that customers typically experience while obtaining a mortgage. Recently, the company has embarked on significant expansion plans that include attracting top talent and considering other acquisitions. Tagged with: AmeriSave Business loans Originations TMS Data Provider Black Knight to Acquire Top of Mind 2 days ago January 11, 2019 2,798 Views The Best Markets For Residential Property Investors 2 days ago Share Save Related Articles Previous: D.C.’s Address Confidentiality Act Next: Fitch Ratings for Manufactured Housing Servicer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img AmeriSave Business loans Originations TMS 2019-01-11 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago TMS Sells Originations Business to AmeriSave About Author: Radhika Ojha 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.  Print This Post in Daily Dose, Featured, News, Servicing Home / Daily Dose / TMS Sells Originations Business to AmeriSave The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

MetaSource Accepted to S&P List

first_img Demand Propels Home Prices Upward 2 days ago in Featured, Headlines, News About Author: Donna Joseph Adam Osthed Mary Kladde MetaSource Residential Mortgage-backed securities Standard & Poor’s 2019-01-13 Donna Joseph MetaSource, a mortgage quality control services and technology provider, has been accepted to the Standard & Poors’ (S&P) list of reviewed firms that conduct third-party due diligence for U.S. residential mortgage-backed securities. MetaSource is one of only a small group of firms that met the assessment factors that are part of S&P’s increasingly strict criteria for the list.“The rating is considered to be one of the ‘gold standards’ of the industry, and the fact that MetaSource has achieved it should give investors tremendous confidence in our abilities as we move further into this marketplace,” said Adam Osthed, President and CEO at MetaSource.In reviewing firms to create the list, which is updated every 18 months, the S&P employs rigorous criteria, scrutinizing such factors as loan data quality, compliance with required underwriting guidelines, property valuation, supporting technology and regulatory compliance.As part of the process, the S&P reviewed MetaSource’s proprietary web-based platform that allows for complete transparency among buyers and sellers as it completes third-party securitization-related due diligence.Through MetaSource’s interactive platform, both buyers and sellers can see work happening in real-time as it is being completed, including the audit results. “We’re very unique in how we’re able to interact with our customers and sellers through the process. We can set the level of transparency a client wants based on their requirements,” said Mary Kladde, SVP of mortgage services at MetaSource.In addition, the platform utilizes such technologies as Robotic Process Automation and Optical Character Recognition to speed up turnaround times. “Some firms still rely on using Excel spreadsheets and manual processes to enter and validate data. We’ve automated many traditionally manual processes and as a result, we’re shortening transaction times and improving accuracy,” Kladde said.“With the S&P acceptance and our ability to provide complete transparency and faster transaction turnarounds, MetaSource is working to revolutionize the mortgage due diligence marketplace and setting new standards for speed, quality and accuracy,” she added.Utah-based MetaSource is focused on business process outsourcing, and business process management services integrated with enterprise content management, workflow solutions, compliance services and customer experience processes. MetaSource’s mortgage services include quality control audits (pre-fund, post-close, servicing, MERS), lien release, whole loan purchase reviews, and technology services. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected]  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Adam Osthed Mary Kladde MetaSource Residential Mortgage-backed securities Standard & Poor’s The Best Markets For Residential Property Investors 2 days ago January 13, 2019 3,583 Views center_img MetaSource Accepted to S&P List Related Articles Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Featured / MetaSource Accepted to S&P List Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Trott Law P.C. Announces Expansion Plans Next: Debt-to-Income and Delinquencies Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

The Week Ahead: Focus on Q1 Earnings

first_imgHome / Daily Dose / The Week Ahead: Focus on Q1 Earnings On Monday Citigroup, Goldman Sachs, and Charles Schwab will announce their Q1 2019 earnings. These will be followed by Bank of America’s Q1 earnings announcement on Tuesday, April 16. These earnings announcements follow the ones made by JPMorgan Chase and Wells Fargo on Friday.In Q4, Citigroup reported a net income of $4.3 billion on revenues of $17.1 billion. This compared to a net loss of $18.9 billion on revenues of $17.5 billion in Q4 2017. Excluding mortgage, its Retail Banking revenues increased 5%, driven by continued growth in deposit spreads, partially offset by lower deposit volumes.Goldman Sachs had reported net revenues of $8.08 billion and net earnings were $2.54 billion for Q4. The bank had said that its Net revenues in interest rate products and mortgages were slightly lower, while net revenues in credit products were essentially unchanged during the year, while they remained unchanged during Q4.Charles Schwab had announced that its net income for Q4 2018 was $935 million, up 57% from $597 million for the Q4 2017. While Bank of America does not announce its mortgage lending revenue separately, it reported quarterly earnings of $7.3 billion in Q4.Here’s what else is in store in the week ahead:NAHB Housing Market Index, Tuesday, 10 a.m. ESTMBA Mortgage Apps, Wednesday, 7 a.m. ESTFed Beige Book, Wednesday, 2 p.m. ESTFreddie Mac Primary Mortgage Market Survey, Thursday 10 a.m. ESTCoreLogic LoanSafe Training Webinars, Thursday, 2 p.m. ESTCensus Bureau Housing Starts report, Friday, 8:30 a.m. EST Tagged with: Bank of America Charles Schwab Citigroup Goldman Sachs Lending mortgage Servicing in Daily Dose, Featured, News Related Articles The Week Ahead: Focus on Q1 Earnings Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 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. The Best Markets For Residential Property Investors 2 days ago Previous: Tim Gillis Joins ServiceLink as VP Capital Market Sales Next: When Housing Coincides With Transit in La-La Land Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Bank of America Charles Schwab Citigroup Goldman Sachs Lending mortgage Servicing 2019-04-12 Radhika Ojhacenter_img  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago April 12, 2019 1,174 Views Sign up for DS News Daily Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha Share Save Demand Propels Home Prices Upward 2 days agolast_img read more

CFPB Director Talks Regulation and Debt Collection

first_img April 17, 2019 2,017 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post CFPB Debt Collection Robocalls Savings 2019-04-17 Seth Welborn Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: CFPB Debt Collection Robocalls Savings Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Search for New Wells Fargo CEO Taking Shape Next: How Homes Can Recover From Severe Weather Damage Demand Propels Home Prices Upward 2 days agocenter_img Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago On Wednesday, the Bipartisan Policy Center hosted Consumer Financial Protection Bureau (CFPB) Director Kathy Kraninger in a Keynote Address titled “The Next Phase for CFPB”. In this Video Spotlight, Kraninger spoke on consumer emergency savings issues and how the CFPB is addressing these problems.Kraninger also discussed rulemaking and guidance in regards to financial services.“Articulating clear rules for the road for regulated entities will promote competition, increase transparency, and preserve fair markets for financial products and services,” said Kraninger. “When Congress directs the CFPB to promulgate rules or address specific issues to rulemaking, we will comply with the law.”Additionally, Kraninger talked about the increased technology usage and its impact on debt collectors. Specifically, she discussed how the CFPB plans to address both human and “robocalls” from debt collectors. Noting that the Fair Debt Collection Practices Act (FDCPA) has not been updated since 1977, she proposed updating the Act and its rules to better reflect modern communications technologies in collections activities.Watch below to hear more from Kraninger’s Keynote Address. About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Government, News CFPB Director Talks Regulation and Debt Collection Home / Daily Dose / CFPB Director Talks Regulation and Debt Collection Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Subscribelast_img read more

More Opportunities for Real Estate Investors

first_img The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Coronavirus Investment Rental 2020-04-25 Seth Welborn Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago With many renters may not be able to pay rent during the COVID-19 pandemic, some landlords are going to struggle with the mortgage, which means an opportunity for some property investors, according to Marketplace. Daniel Lebensohn, co-founder of the investment firm BH3, said buying distressed debt during the last financial crisis built the foundation of his company.“Now’s the time to innovate and go hunting because there will be opportunities,” Lebensohn said.Meanwhile, KC Conway, chief economist at the CCIM Institute, thinks market changes will come in two phases.“Phase one is really a repricing opportunity. And I think then the acquisition comes a little bit later, maybe six months down the road,” he said.Jim Costello, SVP at Real Capital Analytics, told Marketplace that the investment surge could get there at some point, but it’s just not there yet.“It’s not as if anybody who owns anything is suddenly going to step up and say, ‘Oh, sure. A month ago, I could have sold this building for $400 a foot, but because I’m afraid of what’s happened in the market, you can buy for $200 per square foot,’” Costello told Marketplace.As the administration looks for a path forward for the national economy, one policy change that could ultimately lead to a boost in investment for infrastructure and jobs is the repeal of the Foreign Investment in Real Property Act (FIRPTA), according to at least on tax expert. In fact, several members of Congress had already called for the repeal of a particular section of the act prior to the partial economic shutdown this spring.“Rolling back FIRPTA will result in a much-needed influx of billions of new, debt-free financing for everything from new roads to multifamily housing,” stated Alex Hendrie, Director of Tax Policy at Americans for Tax Reform, in an article published Wednesday in Real Clear Markets.The Foreign Investment in Real Property Act places higher taxes on foreign real estate investors than domestic investors. The act was expanded in 2007 to apply to real estate investment trusts (REITS).“Specifically, REIT liquidating distributions to domestic shareholders are treated as sales of stock, while such distributions to foreign shareholders are treated as capital gain distributions,” explained a letter several senators sent to the Treasury in December requesting the repeal of that particular section of the Foreign Investment in Real Property Act. Subscribe April 25, 2020 1,551 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / More Opportunities for Real Estate Investors Demand Propels Home Prices Upward 2 days ago More Opportunities for Real Estate Investors Tagged with: Coronavirus Investment Rental Sign up for DS News Daily center_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Demand Propels Home Prices Upward 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. Servicers Navigate the Post-Pandemic World 2 days ago Previous: 3.4M Homeowners in Forbearance Plans Next: How Best to Avoid Landlord Mortgage Delinquency in Daily Dose, Featured, Investment, News About Author: Seth Welborn Share Save The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more