SFR Vacancy, Turnover Rates Drop in Winter Months

first_img The Best Markets For Residential Property Investors 2 days ago Print This Post Demand Propels Home Prices Upward 2 days ago Tagged with: SFR Securitizations Single Family Rental Related Articles Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / SFR Vacancy, Turnover Rates Drop in Winter Months SFR Securitizations Single Family Rental 2016-02-03 Brian Honea About Author: Brian Honea Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img in Daily Dose, Featured, News Fewer properties with lease expirations in the winter months resulted in a general decline in vacancy rates along with strong retention rates for the month of November, according to data reported by Morningstar Credit Ratings in its December 2015 Single-Family Research: Performance Summary Covering All Morningstar Rated Securitizations.The lower percentage of lease expirations for the winter months could also be the cause of a general decline in turnover rates, according to Morningstar. Overall, delinquency rate remained low and cash flows remained sufficient to cover bond obligations despite an uptick in delinquency rate for 12 out of the 23 securitizations covered in Morningstar’s report.Morningstar publishes its performance summary in order to provide property-level data for each securitization monthly for market participants, since historical data for SFR securitizations is relatively limited. The first SFR securitization, IH 2013-SFR1 (Invitation Homes), in October 2013. Since then, issuance for SFR securitizations has surpassed $13 billion for about 100,000 homes, according to Morningstar.“The December property-level data shows performance of the single-borrower, single-family rental asset class has remained strong,” Morningstar stated in the report. “Vacancy and turnover rates have been improving and delinquency rates continue to be low and in line with Morningstar’s expectations. Monitoring the monthly performance of key metrics in both the single-borrower and multiborrower areas of the singlefamily rental asset class is important as more historical data becomes available, particularly as issuers employ different strategies in managing their securitized pools.”Delinquency rates generally ticked up among the 23 securitaztions, yet they remained low; the highest delinquency percentage for any transaction in December was 1.7 percent, for both ARP 2014-SFR1 (American Residential Properties) and PRD 2015-SFR2 (Progress Residential). Even though the ARP transaction tied for the highest delinquency rate in December, the rate of 1.7 percent was still way down from its peak of 3.0 percent reached in June 2015.Since the number of lease expirations heavily influences the vacancy rate during a given month, the vacancy rate tends to be higher when there are more lease expirations. Likewise, the fewer the lease expirations during a month, the lower the vacancy rate. Out of the 23 transactions covered in Morningstar’s report, 16 of them had fewer lease expirations in December than they had in November. The highest delinquency rate during December went to AH4R 2015-SFR1 (American Homes 4 Rent) with 8.0 percent, which was still an improvement of a full percentage point from December’s rate of 9.0 percent. PRD 2015-SFR2 reversed five consecutive months of steady increases by declining to 6.6 percent in December.Click here to view the complete Morningstar SFR Performance Summary. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago February 3, 2016 1,151 Views Previous: DS News Webcast: Thursday 2/4/2016 Next: LenderLive Welcomes New Regional Account Executive Subscribe Governmental Measures Target Expanded Access to Affordable Housing 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 SFR Vacancy, Turnover Rates Drop in Winter Months Sign up for DS News Daily last_img read more

DS News Webcast: Tuesday 4/5/2016

Servicers Navigate the Post-Pandemic World 2 days ago Print This Post 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. DS News Webcast: Tuesday 4/5/2016 Demand Propels Home Prices Upward 2 days ago Previous: Homeownership Rate Below Peak Levels Across All Ages Next: Credit Crisis Paved the Way for Trump, Sanders About Author: Brian Honea Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Featured / DS News Webcast: Tuesday 4/5/2016 2016-04-04 Brian Honea Is Rise in Forbearance Volume Cause for Concern? 2 days ago Sign up for DS News Daily April 4, 2016 853 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Featured, Media, Webcasts While the homeownership rate is inching its way back upward, it is still below its peak across all age groups—particularly among consumers ages 44 and younger, according to the Wells Fargo 2016 Housing Market Outlook. For consumers between the ages of 35 and 44, the homeowership rate of 59 percent at the end of 2015 was about 11 percentage points off of its peak of 70 percent from 10 years earlier.For consumers under the age of 35, the homeownership rate of 34 percent at the end of 2015 was about 9 percentage points lower than its peak from 10 years earlier. The age group with a homeownership rate at the end of 2015 that was closest to its peak was the 65 and older group, which had a rate of 80 percent at the end of 2015 compared to slightly below 78 percent at the end of 2005.HUD Secretary Julián Castro announced on Monday at the National Low-Income Housing Coalition meeting in Washington that the Department would soon make available 174 million dollars through the first allocations to the National Housing Trust Fund, which were announced by Fannie Mae and Freddie Mac three weeks ago. The Housing Trust Fund is an affordable housing program to complement existing federal, state, and local initiatives to provide housing for low-income families. The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe read more

D.C. Circuit Rejects Intervention in CFPB Case

first_img Tagged with: CFPB Government PHH Demand Propels Home Prices Upward 2 days ago D.C. Circuit Rejects Intervention in CFPB Case in Daily Dose, Featured, Government, News 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 Share Save About Author: Staff Writer March 8, 2017 1,744 Views Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago CFPB Government PHH 2017-03-08 Staff Writer Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Qualia Integrates Old Republic Title ezJacket Next: Poor Underwriting is Contagious Home / Daily Dose / D.C. Circuit Rejects Intervention in CFPB Case Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Print This Post On Tuesday, the D.C. circuit rejected bids from both supporters and opponents of the Consumer Financial Protection Bureau (CFPB) in the trial of PHH Corp. vs. CFPB, Law360 reports, which has declared its leadership system unconstitutional, as the bureau’s single-director structure is in violation of the Constitution’s separation of powers clause.The coalition had moved for reconsideration after already being rejected in February. Additionally, the court had blocked a bid by State National Bank of Big Spring, Texas. The small bank had previously attempted to challenge the constitutionality of the CFPB.The case, as previously reported by DS News, sees New Jersey-based lender PHH Corp. trying to overturn a $109 million penalty issued by the CFPB in June 2015 over alleged violations of the Real Estate Settlement Procedures Act.The $109 million disgorgement order from CFPB to PHH remains at the center of the litigation and CFPB Director Richard Cordray is at risk of being fired by President Trump at will as provided in the Dodd-Frank Act. Cordray had originally ruled an appeal of an administrative judge’s initial smaller penalty.Motions from 17 state attorney generals and Democratic lawmakers Senator Sherrod Brown and Representative Maxine Waters to back the CFPB were rejected by the court, in addition to a coalition of consumer advocates who seek to represent CFPB. In October, Sherrod Brown released a statement on the original case and the decision to review the CFPB’s constitutionality.“I disagree with the Court’s decision. The CFPB’s structure works–just look at the critical role CFPB played in holding Wells Fargo accountable for customer abuses. Despite the industry’s claims, the CFPB is subject to extensive oversight and it is one of the most accountable financial agencies,” said Brown. “The CFPB will continue its tireless work advocating on consumers’ behalf and today’s decision underscores the importance of having a White House and Congress that supports its mission of strengthening consumer protections, rather than seeking to weaken and undermine oversight.”A filing by the Justice Department indicates that the Trump Administration plans to move against the CFPB’s bid to defend its structure. “As this court recognized in calling for views of the United States on the question whether rehearing should be granted, the view of the United States on matters involving the president’s removal of power are not always congruent with the views of independent agencies,” the government’s motion said.The case is PHH Corp et al v. Consumer Financial Protection Bureau, case number 15-1177, in the U.S. Court of Appeals. The Best Markets For Residential Property Investors 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 Subscribelast_img read more

An Unlikely Pair

first_img Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Baby Boomers Millennials Multigenerational Roommates Trulia Research Servicers Navigate the Post-Pandemic World 2 days ago Older generations aren’t as fond of millennials as millennials are of themselves, but sharing space with them could be in older homeowners’ benefit, according to a recent report by Trulia, especially in light of continued shrinking inventory.The report, entitled Boom-mates, looked at houses in the largest markets in the country to find out the number of houses that had two more rooms than occupants, and then presented the idea that Baby Boomers on the verge of retirement—or already retired—can supplement their income by renting out their extra room to millennials.Under this cooperative living, Baby Boomers could make an average of $14,000 a year. For millennials, renting a room instead of a one-bedroom house could save them on average $24,000 per year.Some cities fare better than others when it comes to the savings that multigenerational roommates will experience. Washington D.C. had the most homes with spare rooms—over 5.6 percent of all homes in the metro. It is estimated that renting out a spare room could net the homeowner an additional $941 a month.Boston, Cambridge, New York, Oakland, and San Francisco were the most profitable places to rent out a room. San Francisco was the clear winner, boasting an additional annual income of $22,000 a year, or $1,800 per month. Renters in San Francisco can save $14,220 per year by renting a room instead of a one-bedroom apartment, which average $3,000 a month.Unsurprisingly, renters and homeowners in New York City could save a substantial amount of money as well—second out of all the metros listed. Whereas estimated rent for a one-bedroom apartment would run a renter around $1,800 a month, estimated monthly rent for a single room would only cost around $867, saving about $11,189 annually. An Unlikely Pair in Daily Dose, Featured, Headlines, Market Studies, News Sign up for DS News Daily Previous: Mortgage Experts Weigh in on Vacant and Abandoned Properties Next: Is Real Estate America’s Favorite Form of Investment? Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Subscribe Print This Post The Best Markets For Residential Property Investors 2 days ago About Author: Joey Pizzolato Related Articles Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / An Unlikely Pair Data Provider Black Knight to Acquire Top of Mind 2 days ago 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] Servicers Navigate the Post-Pandemic World 2 days ago July 19, 2017 1,442 Views Baby Boomers Millennials Multigenerational Roommates Trulia Research 2017-07-19 Joey Pizzolatolast_img read more

Why Homeowners are Losing Sleep Over Rising Debt

first_img Previous: Windy City Targets Zombie Homes Next: Delinquencies Increase in Hurricane Impacted States Data Provider Black Knight to Acquire Top of Mind 2 days ago consumers credit cards debt Home Home Equity Homeowners Mr. Cooper 2018-07-10 Radhika Ojha Why Homeowners are Losing Sleep Over Rising Debt July 10, 2018 1,686 Views A third of Americans with credit card debt are losing sleep over it. Yet, they are at a loss as to how to optimize their finances, according to a survey titled “Climbing out of Debt: Finding Solutions for High-interest Problems,” released by the mortgage lender and servicer Mr. Cooper on Tuesday.The nationwide online survey of more than 1,000 Americans with more than $500 in credit card debt was conducted in April covering U.S. Adults aged 18 years plus. It revealed that a third of the respondents said that they were losing sleep thinking about their debt situation and nearly a quarter of those with a spouse or partner said that their debt negatively impacted their relationship. While it’s clear that they want out from the debt trap most respondents, the survey said, didn’t know how. The survey revealed that more than two-thirds of respondents said that it would probably take them over six months to pay off credit card debt, while 15 percent expected it to take more than five years. Around 8 percent said they would never be able to pay off their debt, while 19 percent weren’t aware of the interest rates on their main card.“Americans’ credit card debt is skyrocketing, hitting a record high of $1 trillion earlier this year, and they’re feeling stressed. But homeowners have options available to help them get out of this high-interest debt,” said Jay Bray, Chairman, and CEO of Nationstar Mortgage Holdings, the holding company for the Mr. Cooper brand.The survey also found that a large majority (77 percent) carried their credit card balance from month to month rather than paying it in full and half of the respondents said that they did not have a budget to curtail on their credit card expenses despite the debt.Mr. Cooper said that homeowners could look at tapping into their home equity to help them optimize their finances and deal with high-interest debts like credit cards. The survey found that 44 percent of homeowners had more than $100,000 in home equity. “The Mr. Cooper customer base reflects similar data, with collectively more than $400 billion in home equity or an average of $100,000 per customer,” the company said. “Many homeowners have the ability to use this equity to optimize their finances and save thousands of dollars every year.” “At Mr. Cooper, we’re dedicated to educating homeowners about how they can use their greatest asset—their homes—to lower their monthly payments, support their financial goals and escape the debt cycle that traps so many Americans,” Bray said.As part of educating more customers, Mr. Cooper recently announced the upcoming launch of the new Mr. Cooper with Home Intelligence mobile app to help homeowners make informed decisions about their financial health. The app will provide insights into how much their home may be worth, the current state of their home equity and how homeowners can use home equity and refinancing options to save money and get out of debt.Learn more about home equity:HELOC Equity Withdrawals Hit a Low Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Related Articles Tagged with: consumers credit cards debt Home Home Equity Homeowners Mr. Cooper Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Print This Post in Daily Dose, Featured, Market Studies, News Home / Daily Dose / Why Homeowners are Losing Sleep Over Rising Debt Share 1Save Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

The Week Ahead: Update on Economic Growth

first_img Previous: ‘Burdensome’ Laws, Regulations Impacting Housing Growth Next: Spotlight on Financial Services Law Firms Sign up for DS News Daily The Week Ahead: Update on Economic Growth Related Articles Home / Daily Dose / The Week Ahead: Update on Economic Growth 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 Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Economy Federal Reserve 2020-01-26 Seth Welborn This week, the Federal Reserve’s Federal Open Market Committee (FOMC) will be holding its January meeting, the first of 2020. The FOMC’s meeting will include an overview on economic indicators across the country, including GDP shifts and employment data.Economic growth, the Fannie Mae Economic and Strategic Research (ESR) Group notes, has been largely propped up by housing. The ESR Group’s latest housing outlook indicated that the economy is expected to see growth of of 2.1% throughout 2020.“While we believe the strength and resilience of the American consumer is the lynchpin of near-trend GDP growth, this year we expect consumer demand to re-establish housing construction as a significant contributor to economic growth—hence our theme for the year: A resilient economy overcomes risks to drive housing,” said Fannie Mae SVP and Chief Economist Doug Duncan. “Strong labor markets, rising wages, and improved household balance sheets offer consumer spending upside potential, including the ability to withstand minor economic disruptions.”Fannie Mae expects the growing economic strength from housing that emerged in 2019 to carry into the rest of 2020, including solid growth in single-family construction spending and low mortgage rates.While housing remains the bright spot in economic growth, the Fannie Mae ESR Group also identified which factors may cause a trend to the downside, including geopolitical tensions. For example, as analysis from First American Financial Corporation notes, global uncertainty—such as the conflict between the U.S. and Iran—impacts not only geopolitical relations but also the U.S. housing market. However, Duncan noted what is offering “greater balance” in the latest ESR Group forecast.Here’s what else is happening in The Week Ahead:New Home Sales (January 27)Case-Schiller Home Prices (January 28)Pending Home Sales Index (January 29) The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Tagged with: Economy Federal Reserve Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago January 26, 2020 1,284 Views 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 Subscribelast_img read more

Tracking Foreclosures and Distressed Properties

first_img in Daily Dose, Featured, News, Print Features The Week Ahead: Nearing the Forbearance Exit 2 days ago Print This Post The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Are there any other surprises you’ve seen? Honestly, the most surprising thing is just the sheer volume of borrowers that have raised their hands to ask for a forbearance plan. Truly it’s unprecedented. Even through the Great Recession, we didn’t have this forbearance option, and normally these forbearance plans are used around a natural disaster. You go through for a short period of time and say, “Okay, we’re going to give you some payment relief while we figure out what’s going on.” To see this happen on a global scale, particularly with the sheer number of borrowers, it’s mind-boggling to think about what’s going to happen with the work that servicers are going to have to do at the end of these, to convert these into some type of extension model. Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Week Ahead: Signs of Improvement in Labor Market Next: ‘Disproportionately Affected’: The Economic Impacts of COVID-19 July 2, 2020 2,348 Views This story originally appeared in the July edition of DS News. What factors are in play in the distressed market? There are a couple of issues driving this. Number one is, just over the last year, we’ve been making significant investments, not only spending on marketing to drive more people to our online platform, but also in getting better at how we prioritize those assets and being more surgical in our marketing approach. We’ve also seen that, with the lack of supply, that has pushed people that traditionally wouldn’t only buy foreclosure sales.They’ve shifted to the online environment just because that’s where we do have available inventory for them. The last piece is that many investors over the last few years have pulled out and sat on the sidelines. “Okay, it’s getting a little too hot here, a little too frothy in terms of property values. I’m going to sit on the sidelines and wait for the next downturn to start.” We’ve seen a lot of buyers say, “You know what? We think the next downturn is starting now, so I’m going to start looking at making some investments again.” Servicers Navigate the Post-Pandemic World 2 days ago Share 1Save 2020-07-02 Mike Albanese Jesse Roth joined Auction.com in 2012 as the SVP of Business Development and Client Management, where he oversees the business development and strategic initiatives of Auction.com’s national real estate disposition business.Roth’s leadership has helped build Auction.com into the nation’s leading real estate marketplace, with more than 200,000 residential and commercial sales and $46 billion in transactions. Under his leadership, Auction.com’s client base increased by over 200% and asset volume increased by over 270%. Before joining Auction.com, Roth held senior management positions in portfolio management, capital markets, and servicing roles with mortgage industry leaders Citigroup, Fannie Mae, and GMAC.What are some of the key challenges you’re seeing in getting properties turned around quickly and back into the hands of owner occupants? Most of the properties that have gone through defaults here in the recent past, and that we’d expect to go through default once claims increase, are not suited for owner-occupants. What we have found is that, either our clients, if they take the property back in as an REO property or a local investor acquires the property at the foreclosure sale, as a third-party buyer. Both entities are attempting to solve that problem, and they just have different approaches. The REO department at most clients is looking at it, saying, “How do I best flip this property to an owner-occupant?”But they’re generally doing it from a consolidated location, managing properties all over the country. Whereas, this local, third-party investor that bought them at the foreclosure sale knows much more about the neighborhood, about what needs happen to that property to get it back into the hands of the housing stock faster. We’ve actually seen by going back and looking at data that one year after the foreclosure sale, almost 60% of properties that sell with third-party foreclosure are now owner-occupied versus only 40% of properties that revert to the lender. Are you forecasting any changes to foreclosure price appreciation trends? That’s the big question that everybody wants to know, and I think it will determine how quickly the moratoriums end, the forbearance is resolved, and if we see a wave of defaults, like we would expect just given the sheer number of unemployment claims and the rise in delinquencies. You’re certainly going to see pockets within the U.S. mortgage market around different product types. The bank-owned products and the GSE product are relatively stable, very high credit quality borrowers that were put into those programs with good equity positions. But in the FHA and private-label securities portfolios, you’re already seeing rises and delinquencies and a big part of the reason why we have seen prices rise right now is because of the lack of supply. When the supply flips over and exceeds the demand, you could potentially see a decline in home prices. Do you see an education gap in municipalities when it comes to zombie properties? I do. These nonprofits, these municipalities, they all look at it and say, “Look, foreclosures are bad. We shouldn’t do that.” Certainly in case of stay-at-home orders in this national practice, you don’t want to be kicking people out of their houses. But having these properties sit there empty doesn’t work for anybody. There’s this perception that local investors are just bad. What we’ve found is that the local investors are just better at getting the homes back into the housing stock than REO departments usually are. When you look at the before and after photos, what a property looked like when it’s sold to an investor at the foreclosure sale and what it looks like when they resold it six months later, versus what a property looks like when reverted to the lender and then was sold as an REO. They are night-and-day differences where you’re like, these two are not even like properties anymore. Just to the level of investment and renovation that are done on the properties that are sold to a third party, but then go through, and they make it that property that somebody, a first-time homeowner, a homebuyer wants to purchase because it’s turnkey ready.How do you make sure that everything is communicated to all the people that it needs to be?We work hard to stay in contact with the experts here. We’re talking to the foreclosure attorneys in each state, we’re talking to the servicers that are on the front lines, talking to borrowers. We’re talking to the GSEs, we’re talking to FHFA, we’re talking to HUD, just trying to understand what they are seeing. What are they hearing? What are they thinking? What are they trying to address? Then, we serve as this information conduit to where we can say, “Here’s what we’re hearing from everyone else.” We try to fill that advisor role, because all of the issues around the moratoriums and the forbearance, we’re not the ones having to actually administer them. We just happen to have a bird’s eye view of what’s going on and are able to help connect people that have heads down and all the information flying at them, so they can’t really pick up their head and see the forest for the trees. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Tracking Foreclosures and Distressed Properties Tracking Foreclosures and Distressed Properties About Author: Mike Albanese Do you think we’re going to see more and more of the focus on the online auction side of things? I do. We’ve known for a very long time that 90% of home buyers start their home search online anyway. This institution that we have of forcing everyone into an offline transaction is antiquated in its approach. Being able to make an offer on a property digitally is just the next evolution of how real estate is going to be bought and sold in this country. You’ve seen it in other areas. For example, in Australia, 90% of homes are sold via an auction format. Even if it’s not purely an auction format, the ability to know what’s available for sale in a consolidated format, request to see a property, go through a tour or inspections virtually, and place offers seems like the next road in development for U.S. real estate. 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. 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Are you seeing impacts with regard to the foreclosure moratoriums that have been put into place? Yeah, absolutely. What we’re seeing is the creation of a backlog. Putting a short-term moratorium in place while servicers and borrowers and governments all get their hands around what’s going on makes total sense. We just need to say, “Hey, we just need to take a pause here and let the dust settle and figure out what we’ve got going on.” The problem is that, the way they went about this moratorium, you’ve got a backlog of properties that were severely, severely delinquent. There could be instances in New York, for example, where it had been scheduled, has been going through foreclosure for the last three years. Now they were very close to coming out and having a foreclosure sale and resolving that neighborhood blight that happens from that kind of abandoned properties or dilapidated properties.That’s just now being put on the sidelines. It really is creating a drag on those neighborhoods and ultimately drag on home prices around those properties. The other concern is around what the restart process looks like. Because they were so prescriptive and this moratorium’s about not initiating foreclosure, not advancing foreclosure, and not conducting foreclosures or evictions, it stopped everything in its tracks. Once these moratoriums are over, it’s going to be a lot of work to figure out, “What steps need to be started over? How long will the restart process take to get things back to normal?” Sign up for DS News Daily Subscribelast_img read more

How Much Will Foreclosures Surge in the Months Ahead?

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 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. As Congress remains deadlocked on latest coronavirus relief package, new study anticipates worst-, middle-, and best-case outcomes for foreclosure rates.Whatever Congress and the White House decide, the anticipated foreclosure rate on the horizon looks almost certain to surge. In a worst-case scenario, residential evictions due to delinquent loan payments could double or worse in the coming year, according to an analysis by ATTOM Data Solutions. While Texas is not among the regions projected to be hit hardest—such unfortunates include high-end markets concentrated in the West where median home prices top $300,000—it also is not listed among states likely to “escape with the least damage.”Amid high unemployment-rate projections connected to the coronavirus pandemic, the new study predicts about 225,000 properties next spring will land between initial-foreclosure-notice phase and final resale by lenders that have taken over properties. The number rises to 505,000 in the worst-case scenario developed in the analysis, a situation that would likely play out if U.S. Congress does not continue its moratorium on most residential foreclosures and/or if the government stops subsidizing homeowners who have fallen behind on mortgages.The temporary prohibition of foreclosures affected federally insured home loans, but that expired July 31.As of late Monday night, Congress was deadlocked over the moratorium extension and finer points of support for fiscally stressed households.It should be noted that, while foreclosure moratoriums can bring short-term relief to a market in crisis, they can be ineffective and even potentially harmful when used as a long-term foreclosure prevention treatment, DS News reported in its July 2020 issue.Any foreclosure surge will burden the housing market—already leveling off after eight years of increases—with another element of uncertainty. However, even if the worst case comes to fruition, the industry has seen worse, an ATTOM spokesperson said.“The ominous projections are far from a guarantee, and even if they come true, envision less severe damage than what happened during the foreclosure wave that hit during and after the recession of the late 2000s,” ATTOM’s media liaison Christine Stricker said.The more likely, mid-level outlook projects foreclosure activity will hit 336,000 homes in Q2 2021. Numbers will increase in all 50 states and at least double in as many as 34 of them.By region, the mid-level forecast shows foreclosure filings will increase about 80% here in the South, rocketing more than three-fold in the West, and by more than double in the Northeast and Midwest from Q2 2020 to Q2 2021.In this more-likely scenario, foreclosure filings would at least triple in 14 states, including Colorado, where the number would spike from 1,107 to 5,103 (361%); Massachusetts, where it would rise from 2,512 to 11,228 (347%); and California, where it would jump from 10,566 to 39,793 (277%).States likely to escape with the least damage in a mid-range scenario include Kentucky, which would see its count stay at 1,358; Maryland, where the number would rise from 5,034 to 7,455 (48%); and New Mexico, where it would increase from 1,129 to 1,685 (49%). Tagged with: ATTOM Data Solutions eviction moratorium Foreclosure Foreclosure Activity Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago ATTOM Data Solutions eviction moratorium Foreclosure Foreclosure Activity 2020-08-04 Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago Print This Post August 4, 2020 16,303 Views Home / Daily Dose / How Much Will Foreclosures Surge in the Months Ahead?center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago How Much Will Foreclosures Surge in the Months Ahead? 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People of Gweedore are losing patience with stalled Sewerage Scheme project

first_imgHomepage BannerNews Pinterest RELATED ARTICLESMORE FROM AUTHOR Google+ Donegal Deputy Pearse Doherty says the Gweedore Sewerage Scheme must proceed after the EU threatened legal action.The project was given the go ahead by the government in 2013, but last year, Irish Water announced the scheme was being pur back pending a review after it took over responsibiity for it.Previously, the Gweedore scheme had been delayed because it was coupled with other schemes that were not ready to proceed.Deputy Pearse Doherty says after numerous delays, people are losing patience, and while Irish Water has been consulting locally, no commitments have been received……Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/12/pearsgweedoreshite.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook Pinterest Three factors driving Donegal housing market – Robinson Facebook Twitter NPHET ‘positive’ on easing restrictions – Donnelly Previous articleBallymagroarty councillor says action is needed to tackle joyridingNext articleBundoran Water Treatment Plant back in operation after storm Desmond admin center_img WhatsApp Google+ By admin – December 14, 2015 WhatsApp People of Gweedore are losing patience with stalled Sewerage Scheme project Twitter GAA decision not sitting well with Donegal – Mick McGrath Nine Til Noon Show – Listen back to Wednesday’s Programme Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector publishedlast_img read more

Incoming health minister must ensure Altnagelvin Radiotherapy services go ahead

first_img Twitter Incoming health minister must ensure Altnagelvin Radiotherapy services go ahead WhatsApp Three factors driving Donegal housing market – Robinson The incoming Health Minister will have to move quickly to ensure that planned radiotherapy services go ahead as planned at Altnagelvin Hospital by 2015.The issue was raised by Deputy Dinny Mc Ginley during the debate on a Fine Gael bill on Health Insurance last night.Deputy Mc Ginley said the questions over whether or not the running costs of a new unit can be met must be answered as soon as possible…………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/01/dinny830.mp3[/podcast] Almost 10,000 appointments cancelled in Saolta Hospital Group this week Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Pinterest Google+ Google+center_img News Pinterest Previous articleRemoving PSO from Derry will badly affect North Donegal business – KeaveneyNext articleDeputy McHugh repeats calls for A&E unit at LGH to be fast tracked News Highland By News Highland – January 20, 2011 Facebook Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published Facebook WhatsApp RELATED ARTICLESMORE FROM AUTHORlast_img read more