May 2021

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Derek Templeton is an attorney based in Dallas, Texas. He practices in the areas of real estate, financial services, and general corporate transactional law. His experience includes time as an Attorney Adviser for the U.S. Small Business Administration and as General Counsel for a nonprofit organization in Dallas. A self-avowed “policy junkie,” he has a keen interest in the effect that evolving federal policy has on the mortgage, default servicing, and greater housing industries. The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Headlines, News About Author: Derek Templeton July 3, 2014 922 Views 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 Share Save Previous: DS News Webcast: Thursday 7/3/2014 Next: Recovery Evident in Latest Housing Trends  Print This Post Freddie Mac Spreads Riskcenter_img Credit Risk FHFA Freddie Mac Insurance 2014-07-03 Derek Templeton Related Articles The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Freddie Mac announced a move Wednesday aimed at reducing the risk to the taxpayer associated with its credit exposure in the residential mortgage market. The Enterprise has obtained a number of insurance policies underwritten by a panel of “well capitalized insurers and reinsurers”.The policies were acquired under Freddie Mac’s Agency Credit Insurance Structure (ACIS), which has a stated goal of providing multiple avenues for sharing mortgage credit risk with a diverse spectrum of private investors in a responsible way that does not reduce liquidity or adversely impact the availability of mortgage credit.  This is the third insurance transaction of this nature that the GSE has entered into since November of 2013.The transaction represents the company’s largest credit risk transfer of this type and covers up to a combined maximum of almost $285 million of losses for a portion of the credit risk associated with a pool of Single-Family loans acquired in the second quarter of 2013.”With this third reinsurance transaction, we are bringing in new reinsurance and insurance companies, and distributing risk across more market participants,” said Kevin Palmer, vice president of Single-Family strategic credit costing and structuring for Freddie Mac.Obtaining the insurance is only one method that Freddie Mac is utilizing.In its 2013 Scorecard goals, Federal Housing Finance Agency (FHFA) instructed both Fannie Mae and Freddie Mac to transfer a significant portion of the credit risk on a minimum of $30 billion of new mortgage securitizations. Both of the GSE’s realized these benchmarks using a combination of structured product sales in the capital markets and different types of insurance-based transactions.Now a year later, FHFA is raising the stakes by requiring the enterprises to triple the effect of their risk mitigation strategy by transferring a substantial portion of the credit risk on $90 billion of new mortgages. It requires them to, at the very least, continue their current practice of offering structured product sales and insurance transactions to accomplish the goal.FHFA wants them to go further. The Agency’s 2014 Strategic Plan for the Conservatorship of Fannie Mae and Freddie Mac released in May encourages the enterprises to stretch their risk mitigation programs out even further by engaging in multiple types of risk transfer transactions.The plan contends that even though investor demand is high at the moment, long term demand for the new offerings has yet to be tested. If the capital markets were to dry up or the enterprises had difficulty obtaining insurance on the mortgage securitizations, it would pose a risk to the long-term strategy. Diversifying the methods will broaden the investor base and aid sustainability. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Tagged with: Credit Risk FHFA Freddie Mac Insurance Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Freddie Mac Spreads Risklast_img read more

first_img Servicers Navigate the Post-Pandemic World 2 days ago CFPB CFPB Director Richard Cordray Consumer Financial Protection Bureau Fed Chair Janet Yellen Federal Reserve House Financial Services Committee Senate Banking Committee 2015-07-13 Brian Honea The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago July 13, 2015 871 Views Congressional Hearings to Cover Economy, Monetary Policy, and Agencies’ Activities About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago Tagged with: CFPB CFPB Director Richard Cordray Consumer Financial Protection Bureau Fed Chair Janet Yellen Federal Reserve House Financial Services Committee Senate Banking Committee Sign up for DS News Daily Home / Daily Dose / Congressional Hearings to Cover Economy, Monetary Policy, and Agencies’ Activities Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Demand Propels Home Prices Upward 2 days agocenter_img Previous: Consumer Expectations Toward Housing and Economy Growing More Positive Next: Consumer Credit Outstanding Annual Growth Rate Slows Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 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. in Daily Dose, Featured, Government, News Two hearings examining the activities of government agencies and two hearings covering the nation’s monetary policy and economy will take place in Congress this week. Federal Reserve Chair Janet Yellen will be the lone witness in the two hearings on monetary policy.The Federal Reserve will be under the microscope Tuesday, July 14, in a House Oversight and Investigations Subcommittee hearing titled “Fed Oversight: Lack of Transparency and Accountability. The hearing begins at 10 a.m. Eastern time. Click here to view the Committee memorandum and a list of witnesses.”This hearing will examine the Federal Reserve from three perspectives,” the Committee memorandum said. “The lack of transparency and the opacity of internal processes at the Federal Reserve; overreach by the Federal Reserve in expanding its authority and power beyond the authority granted to it under the Dodd-Frank Wall Street Reform and Consumer Protection Act (P.L. 111-203); and the Federal Reserve’s refusal to comply with Congressional investigations and requests for information as well as the lack of legitimate basis for this non-compliance.”On Wednesday, July 15, the House Financial Services Committee will receive the testimony of Fed Chair Janet Yellen in a full Committee hearing titled “Monetary Policy and the State of the Economy.” Chair Yellen will update the Committee on the progress of the economy toward meeting the four benchmarks for the economy as set by the Full Employment and Balanced Growth Act (Humphrey Hawkins Act) of 1978: full employment, growth in production, price stability, and balance of trade and budget. Click here to view a Committee memorandum. Click here to view a live feed of the hearing, which begins at 10 a.m. Eastern time on Wednesday.Also on Wednesday, Consumer Financial Protection Bureau (CFPB) Director Richard Cordray will testify in a full Senate Banking Committee hearing titled “The Consumer Financial Protection Bureau’s Semiannual Report to Congress.” A topic expected to be covered is the CFPB’s recent announcement of a proposal to delay the effective date of the TILA-RESPA Integrated Disclosure (TRID) rule two months, until October 3, 2015. Click here to view a live feed of the hearing, which begins at 10 a.m. Eastern.The following day in the Senate Banking Committee, Thursday, July 16, Yellen will testify again before Congress in a full Committee hearing titled “The Semiannual Monetary Report to Congress” starting at 2:30 p.m. Eastern time. Click here to view a live feed of the hearing. Related Articles Share Save  Print This Postlast_img read more

first_img Share Save Tagged with: 18-month exam cycle Credit Unions NCUA Regulatory Relief Data Provider Black Knight to Acquire Top of Mind 2 days ago Lawmakers Petition NCUA Chair for Regulatory Relief for Credit Unions Servicers Navigate the Post-Pandemic World 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Related Articlescenter_img Previous: Vacant and Abandoned Properties: An ‘Issue of National Concern’ Next: Investors With Cash Beat First-Time Homebuyers to the Closing Table Home / Daily Dose / Lawmakers Petition NCUA Chair for Regulatory Relief for Credit Unions Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February 18, 2016 1,196 Views 18-month exam cycle Credit Unions NCUA Regulatory Relief 2016-02-18 Brian Honea Sign up for DS News Daily About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago A bipartisan group of 30 members of the U.S. House of Representatives, led by Reps. Frank Guinta (R-New Hampshire) and Rubén Hinojosa (D-Texas) has signed a letter to National Credit Union Association (NCUA) Chairman Debbie Matz asking for the 18-month exam cycle to be extended to well-run credit unions.In January, the FDIC approved an interim final rule that allows well-managed community banks and thrifts with less than $1 billion in assets to qualify for the 18-month on-site exam cycle. Previously, only financial institutions with less than $500 million were eligible for the 18-month exam cycle. The change affected more than 600 institutions, according to Comptroller of the Currency Thomas Curry.With the interim rule change, credit unions are the only federally regulated depository institutions that still fall under the strict 12-month exam cycle at the federal level. National Associatoin of Federal Credit Unions (NAFCU) President and CEO Dan Berger wrote a letter to Matz last month asking NCUA to lengthen the exam cycle for credit unions from 12 months to 18 months.On Thursday, Berger praised the efforts of the group of bipartisan lawmakers led by Guinta and Hinojosa.“We appreciate the leadership shown by Representatives Guinta and Hinojosa, and their colleagues from both sides of the aisle, in urging NCUA to return to an 18-month exam cycle,” Berger said. “Credit unions have been widely recognized by lawmakers and regulators for their prudent business model and for not causing the financial crisis. Credit unions are in particularly solid shape as an industry and do not require the additional burden of more-frequent exams. Extending the exam cycle for well-run credit unions will also help NCUA better allocate resources to address those institutions requiring more oversight.”The lawmakers, in their letter, noted that NCUA had made progress toward regulatory relief but stated there was more work to be done. In particular, they noted that Congress approved the 18-month exam cycle for banks last year and pointed out that such regulators as the OCC, FDIC, and Federal Reserve have begun to take steps toward an extended exam cycle for banks. Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

first_img Share Save July 11, 2016 1,249 Views About Author: Scott Morgan in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Rising Consumer Expectations Could Bode Well for Housing Data Provider Black Knight to Acquire Top of Mind 2 days ago Rising Consumer Expectations Could Bode Well for Housing 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. Consumer Confidence Housing Market New York Fed 2016-07-11 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Tagged with: Consumer Confidence Housing Market New York Fed Encouraging news about consumer earnings could lead to more home sales in an already healthy growth market, even if the labor market is less certain.On Monday, the Federal Reserve Bank of New York (New York Fed) released its latest Survey of Consumer Expectations, which showed that consumers’ earnings and income growth expectations rebounded while medium-term inflation expectations rose in June. Median expected household income growth rebounded from May’s sudden decline, increasing from 2.4 percent to 2.8 percent, the survey reported. Barring the blip in May, income growth expectations have been trending upward since January.Likewise, median household spending growth expectations remained steady, at around 3.6 percent, as did perceptions of credit access compared to a year ago were essentially unchanged. However, the perceived probability of missing a minimum debt payment over the next three months continued its recent upward trend by reaching 13.3 percent in June (up from 12.8 percent in May), a level not seen since December 2014.Meanwhile, the New York Fed reported that median home price expectations decreased by 0.1 percentage point in June to 3.1 percent, remaining within the narrow 3.0-3.2 percent band observed over the last 12 months, but well below average.More mixed were the trends in inflation and labor. According to New York Fed, expectations about inflation decreased slightly at the one-year horizon (from 2.6 percent in May to 2.5 percent in June), yet increased at the three-year ahead horizon (from 2.7 percent in May to 2.9 percent in June). Also, the uncertainty expressed by respondents regarding future inflation outcomes increased at both the one-year and the three-year ahead horizons and is now at the high end of its range for the past two years.This coincided with a bipolar perception of the labor market, where the mean perceived probability of losing a current job and finding a job both declined.  The perceived probability of losing one’s job in the next 12 months dropped from 14.9 percent in May to 13.8 percent in June, but the hope of finding a job also decreased, from 21.8 percent to 20 percent. The perceived probability that the U.S. unemployment rate will be higher one year from now, meanwhile, also decreased from 39.1 percent in May to 38.1 percent in June, still above last year’s levels.Consumer earning confidence, however, could signal a healthier housing market. Nationally, existing home sales are happening at a pace rivaling the pre-recession period, and mortgage rates are still extremely low (and likely staying there). The Federal Reserve last week, in fact, announced that it would wait until U.S. inflation steadied at 2 percent before it raised rates. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Senators Probing Effectiveness of FHFA’s Watchdog Next: Share of Student Loan Debt-Laden Borrowers Rising The Best Markets For Residential Property Investors 2 days ago Related Articles  Print This Post Subscribelast_img read more

first_img in Daily Dose, Featured, News, Secondary Market Freddie Mac will conduct its first-ever structured sale of seasoned loans from its mortgage-related investments portfolio, according to an announcement from Freddie Mac on Wednesday.The pilot sale for Freddie Mac-guaranteed loans serviced by JPMorgan Chase is worth $199 million, and the majority of loans are less than six months current or are moderately delinquent, according to Freddie Mac. The collateral is comprised of Option Adjustable-Rate Mortgages (ARMs) and loans that were originated as Option ARMs but were later modified either through the government’s Home Affordable Modification Program (HAMP) or a proprietary modification.The seasoned loan transaction includes two steps. The first step is a competitive bidding process; in the second step, the buyer of the loans will securitize the loans after the completion of collateral due diligence, according to Freddie Mac.The transaction will expand Freddie Mac’s reperforming loan (RPL) securitization program, which has securitized approximately $24 billion to date, and consists of loans that were previously delinquent and are currently performing—many as a result of a modification. The transaction also expands Freddie Mac’s non-performing loan (NPL) sales program, which has sold and settled NPLs totaling $4.3 billion in aggregate unpaid principal balance through March 31, 2016. The NPL program sales feature loans that are deeply delinquent, sometimes by as many as three, four, or five years.“The RPL securitization program and NPL sales program are a key part of Freddie Mac’s strategy to reduce less liquid assets in its mortgage-related investments portfolio, shed credit and market risk via economically reasonable and well-controlled transactions, potentially improve borrower outcomes in the event of a default and promote neighborhood stability,” Freddie Mac said in the announcement. “It is a key requirement of this transaction that the buyer of the subordinate tranche must be an investor with substantial experience managing ‘high-risk’ mortgage loans as well as substantial experience in securitizations.”The servicing of the loans in the seasoned loan sale will be in accordance with requirements similar to those that apply in Freddie Mac’s sales of non-performing loans (NPLs). Freddie Mac Starts Selling Reperforming Loans  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Treasury: GE Capital No Longer Too Big To Fail Next: FHFA Seeks Input on Front-End Credit Risk Sharing Related Articles The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago June 29, 2016 2,701 Views About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Freddie Mac Re-Performing Loans Seasoned Loans 2016-06-29 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Freddie Mac Starts Selling Reperforming Loans The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Freddie Mac Re-Performing Loans Seasoned Loans Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Subscribe Share Savelast_img read more

first_img 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 The Department of Housing and Urban Development announced on Wednesday that its continuing its commitment to fighting discrimination in housing by making available grants totally $38 million through its Fair Housing Initiatives Program (FHIP). The funding supports multiple fair housing activities, including testing, outreach activities, public education, and building capacity.The FHIP is an effort by HUD to bring together fair housing organizations and other nonprofits to assist people that believe they’ve fallen victim to discrimination. Organizations send out testers—who are both non-Hispanic whites and minorities—with the same financial qualifications to see if they are treated differently when looking for housing opportunities.This year’s funds are available through three different initiatives, as follows:Under the category of the Education and Outreach Initiatives (EOI), the HUD has made available grants totaling $7,450,000 for the education of the general public as well as housing providers about individual rights and lender responsibilities as put forth under federal law. This grant money will also support local and state organizations in the enforcement of fair housing laws that mirror the Fair Housing Act. One million dollars will also be dedicated to a national media campaign.In the Fair Housing Organizations Initiative (FHOI), which strives to build up nonprofit organizations and increase their effectiveness, will have a total of $500,000 in grants to disseminate. HUD is particularly interested in organizations that focus on underserved populations, such as rural areas and immigrants.Finally, the Private Enforcement Initiative (PEI) grants will continue to offer a total of $30.35 million to organizations that handle claims of housing discrimination under the Fair Housing Act, including testing, intake, investigations, and litigation.Qualified organizations are encouraged to apply through grants.gov. EOI grants should search FR-6100-N-21-A; FHOI grants search FR-6100-N-21B; and PEI grants should search FR-6100-N-21C.The deadline for HUD to receive applications is September 18, 2017. Home / Daily Dose / A Helping Hand from HUD About Author: Joey Pizzolato The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: EOI Fair Housing Act FHOI HUD PEI Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save in Daily Dose, Featured, Government, Headlines, Newscenter_img Related Articles A Helping Hand from HUD Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago August 2, 2017 1,197 Views  Print This Post The Best Markets For Residential Property Investors 2 days ago Previous: Money to Recovering Cities Next: Disrupting the Paradigm for Document Collaboration EOI Fair Housing Act FHOI HUD PEI 2017-08-02 Joey Pizzolato Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Home / Daily Dose / Montgomery Testifies: “Public Service Is An Honor” October 26, 2017 1,914 Views Thursday morning, the Senate Committee on Banking, Housing, and Urban Affairs met to conduct a hearing on the nomination of Brian Montgomery, as the Assistant Secretary of Housing and Urban Development, Federal Housing Commissioner.Committee Chairman Sen. Michael Crapo (R-Idaho) began the hearing with his opening remarks—stating that if confirmed, the nominees will play a major role in promoting access to safe and affordable housing for families across America.In addition, Sen. Crapo expressed his thoughts on Montgomery’s nomination as he urged his colleagues for a confirmation without delay.“Brian Montgomery is an ideal candidate to take up that mantle, given that he has done it before,” Sen. Crapo said. “He provided steadfast leadership at the helm of FHA between 2005 and 2009, during one of the most trying times that housing markets have ever seen.”Montgomery, who is now Vice Chairman of The Collingwood Group, a Washington D.C.-based advisory firm that he co-founded, served with distinction in the Executive Office of the President during the Administration of President George W. Bush before transitioning to his role as Assistant Secretary of the U.S. Department of Housing and Urban Development (HUD) and FHA Commissioner under Presidents Bush and Obama.In his testimony, Montgomery said he was humbled by the confidence the committee placed in him 12 years ago, as he sincerely hopes he earned their trust.“Some of my Republican friends and colleagues still ask why I agreed to serve in a Democratic Administration and my answer has always been the same: “they asked for my help.” It was that simple,” Montgomery said.“Now when I’m asked why I would want to return to HUD, the answer is just as simple: “I believe I can make a positive difference,” he continued.During the hearing, Montgomery said: “Public service is an honor that I take very seriously.”Montgomery stated that if confirmed, he will again do his best to further equal access to affordable rental and homeownership opportunities, and seek solutions to restore vitality to the housing market.However, during a series of questions, Sen. Elizabeth Warren (D-Massachusetts) expressed her apprehensions toward Montgomery’s nomination.“Mr. Montgomery may have the best of intentions,” Sen. Warren continued. “But we can never expect the American people to trust Washington if this kind of revolving door continues.”Despite Sen. Warren’s questioning, other committee members stated their hope for Montgomery’s confirmation, including Ranking Member Sen. Sherrod Brown (D-Ohio).Sen. Bob Corker (R-Tennessee) said during the hearing that housing finance today is not sustainable. However, he thinks with Montgomery’s confirmation there is room for improvement.“We’ve got an opportunity to do something constructive,” Sen. Corker said.In addition, other industry leaders have reacted. Lindsey Johnson, President and Executive Director of the U.S. Mortgage Insurers (USMI), released a statement following the hearing reporting her opinions toward Montgomery’s nomination.“The FHA serves an incredibly important role for many low-to-moderate income borrowers,” Johnson said. “We are confident that as FHA Commissioner, Brian Montgomery will continue to be a champion for a robust housing finance system that strikes the appropriate balance between the conventional market backed by private capital and government-backed FHA loans.”In anticipation of Montgomery’s confirmation hearing, Five Star Institute President and CEO Ed Delgado expressed why Montgomery is the right choice for FHA.“Montgomery did more than just educate. He listened. During his time at Collingwood, Montgomery had the unique opportunity to obtain candid perceptions from the residential mortgage servicing industry and keenly understand the impediments that burdensome regulations place upon the development of homeownership.”As the hearing adjourned, Sen. Crapo said as the next step toward the confirmation process the committee will send further questions to the nominees by November 1, 2017. Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Montgomery Testifies: “Public Service Is An Honor” The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Brian Montgomery Bush Administration Ed Delgado Federal Housing Administration FHA Housing and Urban Development HUD Improving Oversight of the Regulation Process: Lessons from State Legislatures nomination Testimony The Collingwood Group The Five Stat Institute About Author: Nicole Casperson  Print This Post The Week Ahead: Nearing the Forbearance Exit 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Brian Montgomery Bush Administration Ed Delgado Federal Housing Administration FHA Housing and Urban Development HUD Improving Oversight of the Regulation Process: Lessons from State Legislatures nomination Testimony The Collingwood Group The Five Stat Institute 2017-10-26 Nicole Casperson Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles in Daily Dose, Featured, Government, Headlines, Journal Previous: Montgomery the Right Choice For FHA Next: Next Post Subscribelast_img read more

first_img in Daily Dose, Featured, Market Studies, News Related Articles 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] The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago December 18, 2018 1,560 Views  Print This Post Tagged with: CoreLogic Investors Low rental home inventory Molly Boesel Rising prices Single-Family Rental Market Data Provider Black Knight to Acquire Top of Mind 2 days ago From the Investors’ Perspective About Author: Donna Joseph Share Save Servicers Navigate the Post-Pandemic World 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 Previous: The State of Remodels Next: The Self-Employed Housing Dilemma Data revealed in CoreLogic’s latest Single-Family Rent Index (SFRI), released Tuesday, is indicative of a promising future for investors in this sector. The report revealed a 3 percent year over year increase of single family rent prices in October 2018, compared to 2.7 percent around the same period last year. Low rental home inventory, relative to demand, has spurred the growth in single-family rent prices, the report indicated. The SFRI reflected an upward spike in rent prices between 2010 and 2018. However, the increase in year over year rent prices have slowed since they peaked at 4.2 percent in 2016, projecting stability over the past year at a monthly average of 2.9 percent.  Low-end rentals saw a 3.9 percent year over year increase—a drop from 4.1 percent last year. High-end rentals, on the other hand, increased 2.6 percent in October 2018, up from 2 percent in October 2017. Las Vegas reflected the highest year-over-year increase in single-family rents in October 2018 at 6.6 percent, the report found. Phoenix followed closely at 6.4 percent. Orlando experienced the third highest year-over-year rent increase at 5.3 percent, down 0.6 percent from September 2018. According to the report, the growth in rent prices in both Orlando and Phoenix is driven by employment growth of 4.4 percent and 3.7 percent year over year, respectively. The lowest rent price increase was recorded at 0.3 percent in Seattle this month—also the lowest year-over-year rent growth for the metro since 2010.The report indicated that metros with limited new construction, low rental vacancies, and strong local economies are key drivers of stronger rent growth. Lowest employment growth was recorded in St. Louis at 2.5 percent. The report pointed out that disaster-affected areas such as Houston metro area experienced a growth of 2.4 percent year over year in October 2018. “While employment growth helps feed rent growth, this relationship doesn’t always hold up, especially for cities with very high rents,” said Molly Boesel, Principal Economist at CoreLogic. Though the overall outlook for the single-family rental sector remains positive, it can be hard to navigate the ever-evolving landscape of the SFR market. Focusing on how to build, manage and grow investment opportunities, 2019 will see an array of housing and mortgage professionals come together at The Guest House of Graceland, Memphis, Tennessee between March 11-13 for the Single Family Rental Summit. The Summit will feature subject-matter experts who will answer questions and offer viable solutions related to property management, acquisition, disposition, and financing. Click here to register for the summit.  Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / From the Investors’ Perspective Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago CoreLogic Investors Low rental home inventory Molly Boesel Rising prices Single-Family Rental Market 2018-12-18 Donna Joseph Sign up for DS News Daily Subscribelast_img read more

first_imgHome / Daily Dose / Varma Penmatsa Talks Fannie Mae and Fintech The Best Markets For Residential Property Investors 2 days ago  Print This Post About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Previous: Federal Banking Agencies Address “Too Big to Fail” Next: Government & Mortgage Servicing’s Best & Brightest Convening in D.C. Editor’s note: This issue originally appeared in the April issue of DS News.New mindsets are impacting the innovation space as it looks beyond technology. Varma Penmatsa, who is responsible for providing effective product and technology solutions through customer engagement, design thinking, innovation, and agile delivery at Fannie Mae, spoke to DS News on why it was important to engage customers to build and implement effective digital servicing products and what gives him the satisfaction of a job well done.What role does customer engagement play in providing efficient and effective technology?Our customers are at the center of everything we do at Fannie Mae, and customer engagement is key to driving innovation. We engage with our customers early and often, through our customer co-development panels that help us receive direct and continuous feedback, test and build products, and ensure that we are delivering the right capabilities that address their pain points.I’m part of Fannie Mae’s Digital Products organization, which won the 2019 Business Intelligence Group award for leading innovation in the industry. A key tenet of our digital operating model is Test & Learn—we design and pilot with customers to directly address their business needs, before we scale the new capabilities for full market availability. This process ensures that we have an opportunity to get customer feedback with minimal initial investment and then can easily pivot if needed, and without significant impact on resources. Test & Learn is now part of our organizational DNA and we have seen substantial improvement in our speed of delivery and success of the product adoption by the customers.Please give some examples of the projects driven by innovation that you have been engaged in recently.Fannie Mae introduced “Simplifying Servicing” in early 2017, a multiyear initiative with the focus on innovation across the entire servicing life cycle, to help address key pain points and reduce costs for our customers.We have delivered several innovative capabilities to date that have been well received by ourcustomers and are working on more. Ask Poli, launched in 2018, is our self-learning tool that provides fast and accurate answersto Fannie Mae’s Selling and Servicing Policy/Guides. Historically, lenders searched for policy guidance on fanniemae.com, Google, or other websites and struggled with long, confusing answers and more links. Now, Ask Poli not only gives them the most accurate answers immediately, but it also leverages Natural Language Processing (NLP) so that answers are shared in easy-to-understand terms. Ask Poli’s artificial intelligence (AI) helps it continuously learn through the inputs provided by users, though we also actively monitor the tool to ensure that the responses are in line with our policies. Since the launch, we have received more than 600,000 selling and servicing queries, giving us tremendous real time insights and helping us to respond to customer needs quickly. We are now working on increasing distribution channels and expanding content to address more complicated scenarios.In late 2017, we launched a new faster, simpler servicing claims experience that lowers servicer costs and effort by providing data transparency and document-free submissions on most claims. This capability offers one-to-two day decisions and simplified policies for our customers on claims reimbursements.Loan Servicing Data Utility (LSDU), launched in 2018, is a suite of self-service tools providing near real-time view for servicers into Fannie Mae loan data and exceptions. This capability enables servicers to reconcile their loan and cash positions with us throughout the month, increasing self-service and reducing operational time and cost. We are also enabling this capability with APIs such that customerscan build direct integration and automation from their current processes.We have recently launched a new tool to simplify the Mortgage Insurance (MI)/MI termination process for the servicers and borrowers. This innovative capability combines Fannie Mae’s automation and standardization of valuations with digital experience for the customers, enabling servicers to receive MI termination qualification decisions and valuation results from Fannie Mae’s Servicing system (Servicing Management Default Utility/SMDU) and APIs. This simplification will also enable servicers to reduce risk and increase their self-service to borrowers as part of their digital transformation.What impacts do you see on resources due to artificial intelligence (AI) and automation?Our goal when we deploy AI and/or automation capabilities is to create efficiencies or capacity for our teams, such that they can focus on high value delivery for our customers. When we use AI (like Ask Poli) in our capabilities, we augment with human driven processes that ensure the tool’s learning is meeting our policy and/or business guidelines. This is key for us to manage towards a goal of achieving higher automation maturity without introducing risk.What does a typical day look like for you at Fannie Mae and what’s the most rewarding part about your job?On any given day, you would find us focusing around two areas. The first is customer engagement, where we talk to the customers daily to solve a problem they’re facing or to get their feedback on whether they are deriving the expected value from a capability we have co-created with them. The second aspect of my day revolves around empowerment. My job as a leader is to ensure that I’m empowering my team to be able to innovate and think outside the box as they engage directly with the customers to build solutions. Delivering value to our customers has been one of the most rewarding aspects of my job at Fannie Mae. It is very satisfying to see customers getting real value using the innovative solutions we’ve been able to provide them that directly solved their pain points. Sign up for DS News Daily Tagged with: Fannie Mae Loan Servicing Servicers 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save in Daily Dose, Featured, News Varma Penmatsa Talks Fannie Mae and Fintechcenter_img Subscribe Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago April 2, 2019 5,480 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Loan Servicing Servicers 2019-04-02 Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

first_imgHome / Daily Dose / Tracking Home Flipping Across the Nation Servicers Navigate the Post-Pandemic World 2 days ago Tracking Home Flipping Across the Nation Sign up for DS News Daily September 19, 2019 1,885 Views Related Articles  Print This Post Share Save Tagged with: Home Flipping Investment ROI Subscribe The Best Markets For Residential Property Investors 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. The volume of single-family homes and condos flipped during Q2 2019 was up 12.4% from the prior quarter, but down 5.2% from a year ago, according to ATTOM Data Solutions. Homes flipped during the quarter represented 5.9% of all home sales during the quarter, which is down from the post-recession high of 7.2% in Q1 2019.Additionally, homes flipped in Q2 2019 generated a gross profit of $62,700—a 2% increase from the previous quarter and 2% below last year’s numbers. The gross profit from the homes flipped in Q2 2019 is a 39.9% ROI compared to the price it was purchased for, which is a sight decline from the ROI of 40.9% from the prior quarter. ATTOM states returns on homes flipped have dropped six-consecutive quarters and eight out of the last 10. Returns currently stand at the lowest level since Q4 2011.“Home flipping keeps getting less and less profitable, which is another marker that the post-recession housing boom is softening or may be coming to an end,” said Todd Teta, Chief Product Officer at ATTOM Data Solutions. “Flipping houses is still a good business to be in and profits are healthy in most parts of the country. But push-and-pull forces in the housing market appear to be working less and less in investors’ favor. That’s leading to declining profits and a business that is nowhere near as good as it was a few years ago.”Although the home-flipping rate fell nationally from last year, several markets posted big gains in the share of homes flipped. Raleigh, North Carolina, led the nation with a 72% increase in home flipping, followed by fellow Tarheel State market Charlotte, which saw a 54% increase. Atlanta, Georgia, posted a 46% increase, San Antonio, Texas, saw home flipping jump 46%, and Tucson, Arizona, recorded a 43% hike.  Investors are thriving in Scranton, Pennsylvania, as it leads the nation in gross ROI at 134%. Pittsburgh, Pennsylvania, has gross ROIs of 132.5%, and is followed by Reading, Pennsylvania (129.3%); Kingsport, Tennessee (104.1%); and Augusta, Georgia (101.1%). ATTOM states it took an average of 184 days to complete a flip in Q2 2019, which is a slight increase from 180 days the prior quarter and 183 days last year.  The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Mike Albanese 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 Home Flipping Investment ROI 2019-09-19 Mike Albanese Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Investment, News, REO, Secondary Market Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Industry Reacts: Fed Cuts Rates Again Next: Knox Capital Invests in a360inclast_img read more