May 31, 2021
  • 5:11 am NoteSchool Presents Webinar on Real Estate Note Investing
  • 5:11 am St. Louis Fed Casts Doubt on the Effectiveness of QE and Zero Interest Rate Policy
  • 5:10 am Rising Compliance Costs Are Problematic for Home Builders
  • 5:10 am Servicer Amps Up Principal Reduction Outreach
  • 5:09 am The Big 5: The Best Cities to Live In

first_img Previous: CFPB Issues Proposed Amendment to Delay TRID Effective Date Until October 3 Next: Spring Homebuying Season Pushes Half of States Into ‘Stable’ Housing Market Range About Author: Brian Honea June 24, 2015 994 Views NoteSchool Real Estate Note Investing 2015-06-24 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily in Daily Dose, Featured, News, Webinars NoteSchool Presents Webinar on Real Estate Note Investing The Best Markets For Residential Property Investors 2 days ago  Print This Post Subscribe Related Articles 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 Share Save 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago NoteSchool, an online provider of high level training on real estate note investment, presented a webinar on Thursday, June 25, to show participants a simple form of real estate note investing in which investors can access good properties by buying notes directly from hedge funds.Eddie SpeedThe webinar showed participants how NoteSchool founder W. Eddie Speed and his group acquires properties for 30 to 50 cents on the dollar while in the process building a scalable business.Speed has been a professional real estate investor since 1980 and has been a pioneer of many of today’s note buying and selling strategies. He founded NoteSchool to help others follow his path to success in the note buying business. Since then, NoteSchool has become a highly recognized training company that specializes in discounted mortgage notes that are both performing and non-performing. Speed is also the founder, owner, and president of Colonial Funding Group, a Dallas, Texas-based nationwide buyer of real estate notes, trust deeds, mortgages, and other receivables.Click here to view the webinar. Home / Daily Dose / NoteSchool Presents Webinar on Real Estate Note Investing Tagged with: NoteSchool Real Estate Note Investinglast_img read more

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first_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News August 18, 2015 1,434 Views St. Louis Fed Casts Doubt on the Effectiveness of QE and Zero Interest Rate Policy Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Federal Reserve Quantitative Easing St. Louis Fed Zero Interest Rate Policy 2015-08-18 Brian Honea Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe In a recently released white paper analyzing actions taken by the Federal Reserve in the immediate aftermath of the 2008 financial crisis, St. Louis Fed VP Stephen D. Williamson questions a few of the central bank’s policies and the effect they have had on the economy.In a section of the white paper titled “Unconventional Monetary Policy After the Great Recession,” Williamson covers three areas which he says comprised a program of “unconventional policy” by the Fed starting in 2009: The zero interest-rate policy (ZIRP); quantitative easing, or large-scale asset purchases; and forward guidance.Even though the Fed’s ZIRP is nothing new, since the interest rate on reserves during the Great Depression was zero, Williamson points out that it is unprecedented in post-1951 United States. He contends that the ZIRP period constitutes a “liquidity trap” in which reserves and Treasury bills are “essentially equal assets.” Williamson said that the zero interest rates enacted by the Fed in 2008 and are still in place have not had their intended effect on inflation. Instead, he said, “the relevant long-run determinant of inflation, in a nominal-interest-rate-targeting monetary regime, is the level of the nominal interest rate. Indeed, mainstream monetary theory and the experience of Japan for the last 20 years tells us that extended periods of ZIRP lead to low inflation, or even deflation.”It is possible, Williamson said, for the Fed to become permanently trapped in ZIRP because of the Taylor rule that dictates how much the Fed should raise rates in response to other economic conditions.”If the playbook for the Fed’s forward guidance in the post-Great Recession period was supposed to have come from received macroeconomic theory, then it seems clear that the FOMC was not following instructions correctly.””With the nominal interest rate at zero for a long period of time, inflation is low, and the central banker reasons that maintaining ZIRP will eventually increase the inflation rate,” Williamson wrote. “But this never happens and, as long as the central banker adheres to a sufficiently aggressive Taylor rule, ZIRP will continue forever, and the central bank will fall short of its inflation target indefinitely.”QE, which consisted of purchases of long-maturity Treasury securities and mortgage-backed securities, has served to increase the Fed’s balance sheet by more than four-fold since before the crisis and substantially increase the average maturity of the Fed’s assets, according to Williamson. But while the Fed’s rationale for QE was articulated by then-chairman Ben Bernanke in 2012, Williamson said that the theory behind QE is “not well-developed.””Further there is no work, to my knowledge, that establishes a link from QE to the ultimate goals of the Fed inflation and real economic activity,” Williamson wrote. “Indeed, casual evidence suggests that QE has been ineffective in increasing inflation. For example, in spite of massive central bank asset purchases in the U.S., the Fed is currently falling short of its 2 percent inflation target.”Janet Yellen, Chair of the Board of Governors Federal Reserve SystemForward guidance was an attempt on the part of the Fed to provide more explicit information on policy statements instead of letting the central bank’s actions speak for themselves, according to Williamson. Like the ZIRP, however, Williamson says the Fed’s forward guidance may have had the opposite effect of what was intended.”If the playbook for the Fed’s forward guidance in the post-Great Recession period was supposed to have come from received macroeconomic theory, then it seems clear that the FOMC was not following instructions correctly,” Williamson wrote. “‘Extended period’ is far too vague to have any meaning for market participants; monetary policy rules should be specified as contingent plans rather actions to take place at calendar dates; ‘thresholds’ are meaningless if nothing happens in response to crossing a threshold. Thus, the Fed’s forward guidance experiments after the Great Recession would seem to have done more to sow confusion than to clarify the Fed’s policy rule.”To read the complete white paper, click here. Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Related Articles Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / St. Louis Fed Casts Doubt on the Effectiveness of QE and Zero Interest Rate Policy Tagged with: Federal Reserve Quantitative Easing St. Louis Fed Zero Interest Rate Policy Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Fannie Mae Completes Third Credit Insurance Risk Transfer Transaction Next: DS News Webcast: Wednesday 8/19/2015 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. last_img read more

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first_imgHome / Featured / Rising Compliance Costs Are Problematic for Home Builders  Print This Post in Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Previous: JPMorgan Chase RMBS Deal First to Qualify Under Safe Harbor Next: Ask the Economist: Tight Inventory is an Effect, Not a Cause Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Xhevrije West Rising Compliance Costs Are Problematic for Home Builders Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago April 6, 2016 1,642 Views Share Save Is Rise in Forbearance Volume Cause for Concern? 2 days ago Home builders have hit a roadblock. The ramped-up regulatory environment has made it difficult for builders to produce affordable homes.Regulations put in place to protect the environment and to shore up local city finances are holding back affordable home building, according to a report by Jody Kahn, SVP of John Burns Real Estate Consulting.“Now, more than ever, the demand for affordable entry-level housing will need to be met by the resale market, since new homes have become permanently more expensive to build,” Kahn stated.In a survey of more than 100 home building executives across the U.S., John Burns determined what new home construction costs have come into play that did not exist 10 years ago and which markets have been affected most by regulation. Builders identified local issues with compliance in the Florida, Southeast, Northeast, Midwest, Texas, Southwest, California, and Northwest markets.John Burns’ National Issues Mentioned Over and Over by Home Builders:$5,000+ per house erosion control costs. Stormwater Pollution Prevention Plan (SWPPP) compliance costs, even in areas that rarely get rain, can now total $5,000+ per home plus fines for noncompliance. Many builders hire newly formed companies to plan, sandbag, sweep, monitor, photograph, and clean up the entire development every day, regardless of the weather forecast.$2,500+ energy code costs. Several builders in Florida, Illinois, Minnesota, Pennsylvania, and California cited $8,000 or more per house in new energy code costs.$750+ mortgage documentation and closing costs. While we expect the cost to comply with new mortgage documentation requirements to exceed $750 per home, one builder noted that the new TRID mortgage compliance rules alone have added at least that much.$5,000+ fire sprinkler costs. In at least 7 markets that we could identify, builders mentioned new requirements to install sprinklers in townhomes, as well as in single-family homes, at a cost of $5,000–$10,000 per home.Understaffed jurisdiction offices. Many planning and permit offices continue to operate with reduced staffing from the bottom of the housing correction, causing costly delays in plan approvals, building permits, and inspections.Utility company delays. Builders across the country complain of much longer than usual delays and rising costs associated with connecting electric, gas, phone, and cable services to new communities.”While virtually all of these costs appear to come with positive consequences for the environment, neighborhoods, or city finances, they also make it quite difficult for builders to build entry-level homes and, consequently, for the home construction market to recover to normal volume levels,”Kahn stated. “Rising construction costs push new home prices higher and out of the reach of many prospective buyers. Increasingly, home builders have been forced to serve only the more affluent home buyers.” Compliance Costs Home Building Regulations 2016-04-06 Brian Honea Tagged with: Compliance Costs Home Building Regulations Sign up for DS News Daily Subscribelast_img read more

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first_imgHome / Daily Dose / Servicer Amps Up Principal Reduction Outreach  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The FHFA’s Principal Reduction Modification program announced in mid-April has the potential to benefit up to 33,000 borrowers nationwide. This number represents a small share of the approximately three million underwater homeowners nationwide, which might make finding borrowers who qualify seem like looking for a needle in a haystack. That is not stopping Ditech Financial and HLP from trying to find eligible borrowers, however.Ditech Financial, a nonbank mortgage lender and servicer owned by Walter Investment Management, and HLP, a non-profit created in 2009 to help families achieve and sustain homeownership, on Tuesday announced an agreement to implement a borrower outreach effort to identify and assist borrowers who are eligible for the FHFA’s Principal Reduction Modification program.“We are committed to rolling out FHFA’s Principal Reduction Modification Program to reach and provide personal assistance to eligible homeowners whose loans we service, in an effort to help them avoid foreclosure and stay in their homes,” said David Schneider, President of Ditech. “In keeping with our goal to become a lifelong partner in homeownership, we want to help families and individuals to take advantage of this program when that is the right option for them. HLP’s platform will be an integral part of our effort to reach and assist those who are eligible for the loan forgiveness program.”The combined outreach effort of Ditech and HLP involves using HLP’s collaborative communication platform to integrate HUD-approved housing counselors with Ditech’s mortgage servicing operations. The integration between HLP’s platform and Ditech’s servicing operations will help HUD’s counselors more easily identify eligible borrowers.In order to be eligible for the Principal Reduction Modification program, homeowners must meet three requirements:They must be severely delinquent as of March 1, 2016They must currently be severely delinquent on monthly mortgage paymentsThey must have an LTV ratio of at least 115 percent (at least 15 percent underwater).Mortgage servicers must solicit eligible borrowers for the program no later than October 15, 2016.“In the past it was operationally prohibitive for residential mortgage servicers to effectively and securely utilize the advocacy world in loss mitigation,” said Cam Melchiorre, CEO of HLP. “HLP’s primary feature has conclusively overcome this process-burden through its centralized, neutral communication hub and its open architecture. This framework enables secure collaboration and rapid deployment of foreclosure relief programs among major stakeholders in the residential mortgage finance industry in fulfillment of HLP’s mission as a social enterprise to assist consumers to obtain and retain homeownership.” Demand Propels Home Prices Upward 2 days ago Ditech Financial FHFA HLP Principal Reduction Modification 2016-05-17 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. Tagged with: Ditech Financial FHFA HLP Principal Reduction Modification May 17, 2016 1,517 Views The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Servicer Amps Up Principal Reduction Outreach Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Proposal Aims to Change CFPB’s Mission Next: Third Circuit Court Hands U.S. Bank a Victory The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea in Daily Dose, Featured, News Demand Propels Home Prices Upward 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Subscribelast_img read more

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first_imgHome / Daily Dose / The Big 5: The Best Cities to Live In Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Big 5: The Best Cities to Live In Share Save The Best Markets For Residential Property Investors 2 days ago Tagged with: Best Cities to Live Top 5 WalletHub Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines, News The question of where the best place to live is located has always been an elusive one. What factors should be considered when passing judgement on a city, and what weight should those factors be given are questions that don’t have any hard and fast answers, but nevertheless are ones worth asking when considering specific regions in the U.S.WalletHub recently tried its hand at ranking the best cities to live for 2017 by considering housing costs, homeownership rates, income growth, percentage of the population below the poverty line, percent of the population insured, percent of the population with a high school diploma, workweek, restaurants and coffee shops per capita, walk and bike score, and crime rate. It ranked each city in each of these individual categories, and then ranked a master composite of all the categories to come up with a final list.The top five cities overall, based on affordability, economy, safety, education and health, and quality of life are as follows. Number one, with a total score of 63.41, was Virginia Beach, Virginia. This locale also ranked in the top slot for the highest homeownership rate, as well as the lowest percent of the population living below the poverty line. Virginia Beach also has one of the highest percentage of educated adults, second only to Seattle, but conversely also had the second highest average of weekly work hours. This coastal city also boasted the lowest crime rate in the country.Second overall best big city to live in was Seattle, Washington, with a score of 62.58. Seattle has the second highest income growth behind Washington, DC, and is the fifth highest percentage of insured in the country.Number three was Pittsburgh, Pennsylvania with a score of 60.96. The city was fourth in percentage of population with a high school diploma, but surprisingly didn’t make the top five in any other individual category although its average was high enough to warrant the number three spot.Number four was San Diego, California, and number five was Colorado Springs, Colorado, although San Diego did not make any top five lists, whereas Colorado Springs showed up in the highest percentage of people with a high school diploma, and fewest people living below the poverty line.You can see the full results here. Best Cities to Live Top 5 WalletHub 2017-07-24 Joey Pizzolato Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily 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] Related Articlescenter_img Demand Propels Home Prices Upward 2 days ago July 24, 2017 1,662 Views  Print This Post The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Previous: LenderLive Appoints Rob Clements as Chariman, CEO; John Surface to President, COO Next: Innovation: Not Just For the Customer 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 ago About Author: Joey Pizzolatolast_img read more

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first_img Previous: What’s Really Driving the Real Estate Market? Next: July 2017: How Freddie Fared in Daily Dose, Featured, Market Studies, News Home / Daily Dose / Diversity: Influencing the Mortgage Industry Demand Propels Home Prices Upward 2 days ago August 25, 2017 1,740 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Women in Mortgage 2017-08-25 Whitney Blessington Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Whitney Blessington  Print This Post Subscribe Whitney Blessington is VP of Marketing and Debbie Schmidt is Phoenix branch manager for Churchill Mortgage, a full-service and financially sound leader in the mortgage industry, the company provides conventional, FHA, VA and USDA residential mortgages across 44 states. About Author: Debbie Schmidt Share Save Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Women in Mortgage Diversity: Influencing the Mortgage Industry The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Making homebuyers’ dreams a reality is the goal of every great lender, and in the past few years, how that goal is achieved has changed—influenced by laws, technology and an emerging homebuyer demographic. This is where many articles go down the path of discussing “millennials”, but in the spirit of DS News’ upcoming September Diversity issue, we’re here to highlight another trend: female homebuyers. According to the 2017 National Association of Realtors Home Buyer and Seller Generational Trends report, single women are buying more houses than single men today. While the majority of total homebuyers are married couples (66 percent), 17 percent were single females (compared to single men, who comprise seven percent of the total).So, why are more females buying homes? There’s much speculation and no clear answer (although, we have some ideas). What does it mean for lenders? It’s an exciting and positive change that every lender should pay attention to; it will help them adjust their strategies to fit the shift in buyers, and continue making homeownership a reality for every borrower.Empowerment and Departure from Tradition Women today are more empowered than ever before and have a more inherent self-sufficient mindset compared to previous generations. It exceeds well beyond the mortgage industry; there are more female entrepreneurs, professors and working professionals in the workforce and for the first time ever, a female was a primary candidate for the presidency of the United States. And while there’s still much work to be done before we reach true equality, we can’t ignore the progress we’ve made so far. In addition, tradition dictated that marriage preceded a home purchase, but today, there’s a change in that thought process. Analysis of data from the National Survey of Family Growth showed that of women born in the 40s, 25 percent were unmarried by the time they reached the age of 23. Conversely, the share of unmarried 23-year olds born in the 90s is 81 percent. Under this empowerment and departure from tradition lies a fundamental characteristic of women: the desire for stability and security and the tendency to be the familial caretaker. A home defines those characteristics.As lenders, appealing to homebuyers with a variety of characteristics requires an array of targeted approaches. This isn’t anything new; borrower segmentation has been around and used for a long time and successful lenders know to be responsibly mindful of current borrower dynamics because each one brings a unique mindset to home buying that must be understood and respected. Overall, homebuyers want to understand the process and have the best education available to help create a trusted and enjoyable experience. The difference today is the diversity of the segments. A larger share of female homebuyers means making changes in two key areas:Appealing to the Female Homebuyer Lenders must take into consideration how males and females approach a home purchase. Male borrowers have a tendency to prioritize the interest rate – they’re likely to be more analytical and process-driven. Female borrowers on the other hand will relate more to the aesthetics and emotional components of the purchase (security, stability and trust). That isn’t to say that the budget is less important for the female homebuyer, but the conversation and communication leading up to the final decision is going to be different. Each requires a unique approach from a marketing perspective. For example, women tend to trust each other more than traditional advertising and tend to use social media more often than males, specifically Facebook and Instagram. They’re also more likely to follow brands. As a marketing team, this is important to keep in mind. When it comes to the home search, females tend to find the house they like and then look into the budgetary requirements (whereas males prioritize the loan and then the home search). We looked at our own sample of data, and it showed that of total applications, a larger share of men (24.5 percent) get pre-approved before completing the mortgage application compared to females (15.6 percent).What it really all comes down to is communication and making sure that the borrower is comfortable with the process. If you’re not as intimidated, then you’re more likely to get further along in the process. That is the most important thing in our business and more diversity enables lenders to connect with borrowers in a more natural and easy way. Obviously, this is good for business, but as a whole, it makes the industry more approachable. Consider a business operating in a predominately Spanish-speaking area. Having employees who can communicate has a tremendously positive impact.Diversifying Your WorkforceIn 2001, Ford Motor Marketing reported that women influenced 80 percent of all car purchases and at that time, CNW Research (an automotive marketing research firm) found that “half of new car purchases are made by women, and 53 percent of used car sales can be attributed to women.” The growing female influence changed the automotive industry—in response to the increasing share of female car buyers, repair shots and dealerships began hiring more female technicians and service managers. Not because there was a demand to be treated differently, but because there was a need to adjust to the behavior styles of female customers, to make them feel comfortable when interacting with the sales representatives and mechanics. There was noticeable change in the operations of automotive retailers, with a greater emphasis on cleanliness and appearance, which lead to a better experience for the emerging customer segment. We’ve already established that more single women are buying homes and research from the Harvard Business Review shows that women make the decision in the purchases of 91 percent of homes. It only makes more sense to have mortgage professionals who can connect and relate with female homebuyers and that’s naturally going to be a female loan officer; someone who can simply communicate and share experiences with them and provide insights in a more relatable manner.Regardless, any lender should seek mortgage professionals with exemplary character, who are caring and competent and who are driven to achieve goals in their everyday approach. It’s also important to strike a balance of the strengths of everyone, whether male or female. Each person has their own unique dynamic and it’s important to consider those dynamics when professionals approach their duties in the mortgage industry.What this Means for the IndustryWe are excited to see this shift in the mortgage industry. A diverse workforce across all levels of the mortgage industry benefits us all. Each person performing to their strengths will make the entire team stronger, which strengthens the organizations from the ground up.Females bring a different skill set to the trade that is beneficial and the effect this has on borrower service is undeniable. Breaking down the barriers to entry to the industry is critical. Lenders have to help serve and treat everyone with the same excellent service no matter what and every adjustment, big or small, must be made to ensure that borrowers are provided with the best homebuying experience. Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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first_img Servicers Navigate the Post-Pandemic World 2 days ago About Author: Nicole Casperson Sign up for DS News Daily in Daily Dose, Featured, News The Week Ahead: Nearing the Forbearance Exit 2 days ago University of Southern California Lusk Center for Real Estate released Tuesday a discussion with Chairman Emile Haddad on what he believes are game changers for the industry.According to Haddad, technology advances and demographic shifts are generally ignored, but he believes those factors are among the most important for real estate professionals to consider.Haddad noted that government regulations need to be quick to keep up with technology advances, and how that impacts the housing market.“The world is moving in nanoseconds and we can’t wait 15 years for regulation to catch up,” Haddad said. “Government moves slowly, which is evidenced by the fact that rules governing development approvals are determined by a 1990s view of transportation.”Haddad encourages forward thinking, as he believes with a modern view of transportation, the industry could flourish. Within 20-years, he predicts most renters will no longer own a vehicle. If his predictions are right, this means that current developments are still catering to an outdated world.“If the need for vehicle ownership becomes obsolete, that’s a 50 percent increase in multifamily living space,” he said. “In essence, transportation technology is a key factor in solving the affordability riddle.”In addition, Haddad encourages real estate companies and regulators to rethink 5-year plans with 15, 20, and 30-year plans instead, as a way of having more long-term future improvements.“Things are changing rapidly and we must anticipate what real estate will look like 15 years from now,” Haddad said. “We do ourselves, our economy, and our industry a disservice by waiting 15 years to assess where we are.”Instead, he advises that regulatory and legislative bodies, as well as real estate leaders, “forecast future needs and adjust practices and policies with urgency.”As a result, the real estate game could be in better shape for the future. Previous: Housing Market Remains Strong: Great Time to Sell Next: How Equifax Could Change Arbitration HOUSING mortgage real estate USC Lusk Center for Real Estate 2017-09-12 Nicole Casperson  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: HOUSING mortgage real estate USC Lusk Center for Real Estate 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] Home / Daily Dose / 3 Factors Real Estate Professionals are Overlooking Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 3 Factors Real Estate Professionals are Overlooking Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago September 12, 2017 1,532 Views The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

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first_img Previous: Metros that Make the Dream Neighborhood Checklist Next: Powell Was Hesitant About Fed MBS Purchases in 2012 The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: community blight Oregon portland Vacant and Abandoned Homes Zombie Foreclosures zombie homes Zombie Properties in Daily Dose, Featured, Foreclosure, Journal, News About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago Share Save Home / Daily Dose / Zombie Homes: The Problem That Just Won’t Die community blight Oregon portland Vacant and Abandoned Homes Zombie Foreclosures zombie homes Zombie Properties 2018-01-08 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago January 8, 2018 13,006 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 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 Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Zombie Homes: The Problem That Just Won’t Die The issue of so-called “zombie homes” is a problem for any major city. “Zombie homes” is a colorful name for an old problem, and one that continues to be widespread as the nation gains more distance from the housing crisis and the Great Recession. Zombie homes are created when the foreclosure process begins, the homeowner moves out, but then the foreclosure is canceled for one reason or another, leaving the home unoccupied—and often falling into disrepair. The issue—and misunderstandings surrounded it—is highlighted in a new story about how Portland, Oregon, is tackling the problem.The Portland Tribune reported recently that Portland Mayor Ted Wheeler has reversed a policy put in place by his predecessor that was designed to crack down on zombie homes, threatening foreclosure on the properties in order either to force landlords to attend to the homes’ upkeep or get them into different hands. However, while former Mayor Charlie Hales pushed the Portland City Council to crack down on zombie properties, Wheeler considers the problem less of a priority.Wheeler told the Tribune, “The obstacles for government to take away someone’s property are formidable. It’s a very expensive, multi-year process. I’m not sure that’s the best use of our resources.”Of course, the problem with typical zombie properties is that there isn’t anyone in the house to be forced out. With the properties trapped in something like limbo, it’s hard to find a good solution for any of the parties involved, from the bank or mortgage company left holding the property, to the city governments tasked with fighting urban blight. As evidenced in Portland, even when one party comes up with a plan to address the issue, that plan can crumble in the wake of budget cuts or political change.Would Hales’ plan have worked in the longer term? According to the Tribune, Portland only used the threat of foreclosure to force landlords to take care of their derelict properties in 10 cases during the previous 18 months. Of those 10 properties, the Tribune reports that “Landlords for eight of them paid off the liens before the auctions were set. The ninth was paid off just before the auction. The 10th was paid off after it failed to sell at the first auction but before the second auction was held.”With Wheeler reversing course on Hales’ policy, the city is now effectively back where it was before that policy was put in place … and the city’s zombie homes still remain.Several American cities have been trying to fast-track foreclosures in recent years as a means of combating blight and zombie properties. Fast-track foreclosure laws are already on the books in Ohio and Maryland, with states such as Illinois, Pennsylvania, and New York possibly following suit. Some municipalities are also trying to combat the individual symptoms of blight, such as in the case of Ohio’s banning of the use of plywood on vacant properties. In November 2016, Fannie Mae announced it would allow mortgage servicers to use clearboarding on vacant homes in pre-foreclosure, striking another blow against one of the tell-tale visual signs of zombie homes and urban blight.In part three of a three-part series earlier this year, Robert Klein, Founder and Chairman of Safeguard Properties and SecureView, told DS News, “It’s all about keeping people in their homes as long as possible, but, once abandoned, a house becomes a liability. Fast-tracking enables the mortgage servicer to get possession of the property before it deteriorates. This directly leads to on-time conveyance and faster rehab and sale.”Fast-tracking foreclosures—or even threatening to do so—can be one effective way to combat the zombie home plague, but evidenced by Portland’s problems, it isn’t always a politically popular approach. 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first_imgHome / Daily Dose / Presidential Nom. Buttigieg Releases Housing Reform Plan Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Presidential Nom. Buttigieg Releases Housing Reform Plan Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Democratic Presidential Candidate Pete Buttigieg has released his plan for housing, including plans to increase homeownership and affordable housing access through investment programs. Buttigieg’s plan, titled “Coming Home: An Agenda for Housing Justice in America,” calls for increased homeownership among low-income Americans, and attempts to combat discrimination in housing.The plan includes reinstating the Affirmatively Furthering Fair Housing Rule and the passing of the Community Homestead Act.”The vast majority of neighborhoods that were redlined nearly 100 years ago remain disproportionately poor and segregated to this day.8 From redlining to racist mortgage covenants, it will take decades of intentional policy to undo our past wrongs.”In an effort to increase access to affordable housing, Buttigieg proposes a $4 billion investment in matching funds toward low0income housing programs, and a plan with congress to put in place an affordable 30-year, fixed-rate mortgage”In a Buttigieg administration, families across the country will have greater access to affordable housing and communities will have the building blocks for inclusive revitalization,” Buttigieg’s campaign site said. “His administration will right the wrongs of the housing crisis, including by establishing strong consumer protections and implementing policies to rebalance our economy in favor of American families. And it will reverse the effects of many generations of policy that locked some Americans out of homeownership and a place to live in neighborhoods of economic opportunity.”Buttigieg’s plan follow fellow candidate Michael Bloomberg’s proposal to Freddie Mac and Fannie Mae. CNBC states that Bloomberg’s plan would bolster reforms either put in place or strengthened as part of the 2010 Dodd-Frank act in response to the Great Recession.Tim Rood, Chairman and Founder of The Collingwood Group, a SitusAMC company, said the idea of merging the GSEs was discussed soon after they were taken into conservatorship. The plan, however, was quickly abandoned as lawmakers realized that “the only thing potentially worse than a duopoly in mortgage finance was a monopoly.””The rivalry between Fannie Mae and Freddie Mac is critical for maintaining the competitive DNA of the two organizations to ensure innovation and disruption that serves lenders and borrowers alike,” Rood said. Tagged with: Democratic Candidate Pete Buttigieg reform Previous: Fed’s Plan for Economic Growth Next: Home Prices in Opportunity Zones Rising Quickly  Print This Post February 19, 2020 1,953 Views Subscribe Servicers Navigate the Post-Pandemic World 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Democratic Candidate Pete Buttigieg reform 2020-02-19 Seth Welborn The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles About Author: Seth Welbornlast_img read more

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first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post FOMC: Interest Rates Dropped to Zero Demand Propels Home Prices Upward 2 days ago Coronavirus COVID-19 2020-03-13 Seth Welborn The Washington Post reports that the Federal Reserve cut interest rates to zero on Sunday in an effort to bolster the U.S. economy as it combats the effects of the coronavirus.The benchmark interest rate is now in a range of 0% to 0.25%, which is down from a range of 1% to 1.25%. The Fed also announced it is re-starting its “quantitative easing,” as it did following the Great Recession to try and get money into the markets and the economy.”The Committee expects to maintain this target range until it is confident that the economy has weathered recent events and is on track to achieve its maximum employment and price stability goals,” said the Fed in a statement. Officials will continue to monitor the “implications of incoming information” for economic outlook including information related to public health, global developments, and muted inflation pressures, according to the statement. The Fed added it will “use its tools and act as appropriate” to support the economy.Additionally, the Fed announced that over the coming months that it will increase its holdings of Treasury securities by at least $500 billion and its holdings and agency mortgage-backed securities by at least $200 billion.The reduction of interest rates to 0% was suspected at the end of last week, as Goldman Sachs economists expected this move, according to The Street.“In light of the continued growth in coronavirus cases in the U.S. and globally, the sharp further tightening in financial conditions, and rising risks to the economic outlook, we now expect the [Federal Open Market Committee] to cut the funds rate 100 basis points on March 18,” Hatzius wrote.In the meantime, Treasury Secretary Steven Mnuchin told CNBC on Friday the market sell-off will be short-lived and looks like a compelling opportunity for investors looking to buy equities at a discount.“I look back at people who bought stocks after the crash in 1987, people who bought stocks after the financial crisis. For long-term investors, this will be a great investment opportunity,” Mnuchin said.According to Mnuchin, the current sell-off is more short term than the crisis in the 2010s, comparing it more to the “Black Monday” crash in 1987.“This is not like the financial crisis, where people don’t know when this will end: We will get through this,” Mnuchin added. “By the end of the year, I think you can expect we’re going to have a big rebound in economic activity.”Further cancellations are on the horizon as well in response to COVID-19. On Thursday, Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee, announced the postponement of all remaining public hearings for March due to the urgent public health crisis resulting from the pandemic coronavirus.Canceled hearings include:Full Committee hearing entitled, “An Examination of Secretary Carson’s Efforts to Undermine Affordable Housing in America.”Subcommittee on National Security, International Development, and Monetary Policy hearing entitled, “A Review of Domestic and International Approaches to Digital Currencies.”Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets hearing entitled, “The End of LIBOR: Transitioning to an Alternative Interest Rate Calculation for Mortgages, Student Loans, Derivatives, and Other Financial Products.”Subcommittee on Oversight and Investigations hearing entitled, “Holding Wells Fargo Accountable: Examining the Impact of the Bank’s Toxic Culture on Its Employees.”Friday afternoon President Donald Trump officially announced a national emergency due to COVID-19. This declaration will free up $50 billion in federal funding that can be used to help state and local governments.Additionally, Trump said that he recommends states enact emergency operation centers immediately and for hospitals to activate their emergency preparedness plans. He added that the U.S. has made “tremendous progress” as it combats the coronavirus. Trump imposed a 30-day travel ban on foreign nationals from Europe entering the U.S. on Wednesday. “We will overcome,” Trump said during his address in Rose Garden, adding that the nation’s fight against COVID-19 is entering a different phase. Trump said that a new partnership has been forged with the private sector to develop testing for COVID-19. The President, however, stressed that only those who show symptoms use the tests.   The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn Previous: Don’t Put CECL on the Back Burner Next: Mortgage Leaders Form COVID-19 Industry Task Force Home / Daily Dose / FOMC: Interest Rates Dropped to Zero Demand Propels Home Prices Upward 2 days ago Related Articles in Daily Dose, Featured, Government, Market Studies, Newscenter_img Share 2Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago March 13, 2020 1,608 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Tagged with: Coronavirus COVID-19 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribelast_img read more

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