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Recovery Expected to Enter ‘Middle Innings’ in 2014

first_img Recovery Expected to Enter ‘Middle Innings’ in 2014 Related Articles Home / Daily Dose / Recovery Expected to Enter ‘Middle Innings’ in 2014 in Daily Dose, Featured, Headlines, Market Studies, News, REO, Story Crawl Tagged with: Home Prices Zillow While the housing market is still far from “normal,” it is inching that way, according to a report released Thursday from Zillow. Last year’s skyrocketing home price appreciation, frenzied demand from investors, and high tide of negative equity are all expected to subside somewhat this year, according to the real estate company.Nationally, home prices increased 6.4 percent year-over-year in the fourth quarter, but annual price gains are expected to fall to 4.8 percent by the end of this year.On a quarterly basis, prices rose 1.4 percent in the fourth quarter, according to Zillow.“Below the surface of last year’s market, a number of unsettling trends started to emerge as a result of rapid and ultimately unsustainable appreciation, setting up a bit of a mixed bag for 2014,” said Stan Humphries, chief economist at Zillow. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home Prices Zillow 2014-01-24 Krista Franks Brock Subscribe Demand Propels Home Prices Upward 2 days ago About Author: Krista Franks Brock Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago January 24, 2014 732 Views Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: DS News Webcast: Friday 1/24/2014 Next: Decline in Foreclosures Outpaces Decline in Loan Modifications However, some of the markets that posted the highest price gains last year are already slowing, which according to Zillow, is “a welcome sign in markets that risk crossing over into bubble territory as rising mortgage interest rates create affordability issues for homebuyers.”Markets such as those in California and the Southwest that experienced rapid appreciation this year may stall this year due to affordability issues, leading to “volatility that could potentially cause whiplash for homebuyers and sellers,” according to Zillow.Nationally, price appreciation is already tapering off, according to Zillow. After reaching a high of a 7.1 percent annual price gain in August, price gains remained below 7 percent for the entire fourth quarter.However, local markets will vary widely this year with a 16.1 percent anticipated gain in Riverside, California, and a 0.4 percent gain anticipated in Kansas City, according to Zillow.All but three of the nation’s 35 largest metros experienced price growth in 2013, and all but one are expected to experience price gains again this year, according to Zillow.After posting a 3.8 percent decline last year, St. Louis, Missouri, is the only metro expected to experience falling prices this year with an anticipated 3.1 percent decline.In two of the 35 markets Zillow tracks—Denver and Pittsburgh—home prices surpassed the peaks they reached before the housing downturn.While home prices rose 1.4 percent in the fourth quarter to $169,000, rents rose 0.7 percent to $1,302.  Print This Post Share Save 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 Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. last_img read more

Frank Testifies Before House Financial Services Committee

first_img 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 Frank Testifies Before House Financial Services Committee Sign up for DS News Daily 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 Previous: Consumers Would Change Lifestyle to Avoid Default Next: Homes “Seriously Underwater” Down in Second Quarter Subscribe July 23, 2014 1,029 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Barney Frank Dodd-Frank Reform Act House Financial Services Committee 2014-07-23 Derek Templeton  Print This Post Tagged with: Barney Frank Dodd-Frank Reform Act House Financial Services Committee Former Congressman Barney Frank testified before the House of Representatives Committee on Financial Services on Wednesday, arguing that the Dodd-Frank Wall Street Reform and Consumer Protection Act and the voluminous set of regulations that followed shortly thereafter was a positive for the economy and safeguarded the American public from ever having to face an economic down turn the likes of the great recession ever again.Frank, a former chairman of the committee he now sat in front of, was one of five witnesses called before the committee to assess the impact of the law from multiple angles. He was the lone witness to testify in favor of the law.In the more than three hour long hearing, Frank and others faced tough questions on the effect that the act has had on the economy and the value of the changes when compared with the toll it takes on financial services firms ranging from community banks to the largest players in the industry.Frank took the opportunity to push pack against recent Republican criticisms. For example, there has been mounting sentiment in recent weeks that the law’s process for empowering regulators to designate nonbank financial institutions as “systematically important” amounts to the government assuring investors that the institutions would be bailed out in the event that they were to collapse.“Every institution which has been threatened with being named has reacted very violently and very negatively,” he said in response. “I think that’s a very Marxist analysis, but the Marx in question is Chico,” he continued, quoting comedian Leonard “Chico” Marx of the Marx Brothers as saying, “‘Who are you going to believe, me or your eyes?’ Who are you going to believe, your own viewpoint or what financial institutions tell you?” Mr. Frank said.Adding to the complexity is the fact that about half of the Dodd-Frank rules have yet to be finalized, creating a regulatory landscape that is murky at best.  “The rules will be completed before any major crisis that they are intended to prevent, but later than they should be for the certainty that financial institutions deserve,” Frank said.House Republicans have taken advantage of the four year anniversary of the President signing the act into law to highlight what they argue as the unmitigated failure of the act to fix the issues that caused the financial crisis and the overly burdensome regulation that it created for financial institutions.On Monday, House Republicans introduced a 100 page report critical of the law, asserting that the law does not end the prospect of banks being too big to fail as advertised.“Dodd-Frank has always been based on upon a false premise that somehow deregulation or lack of regulation led us into the crisis,” said Jeb Hensarling (R-Texas), chairman of the committee, in his statement to open the hearing. “However in the decade leading up to the crisis, studies have shown that the regulatory burden on the financial services industry actually increased. There were few industries that were more-highly regulated; FDICIA, FIRREA, Sarbanes-Oxley, the list goes on.”Republicans argue that unless the law is repealed, the volume of regulation will only will only grow larger and more complex. Multiple Republicans at the hearing cited examples such as JPMorgan hiring 10,000 new compliance staff in the past two years to deal with issues stemming from the new regulations.“I’m not embarrassed”, said Frank in response to the example. “They were not over-compliant by any means.” About Author: Derek Templeton Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Frank Testifies Before House Financial Services Committee 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. last_img read more

Speaker of the House Candidates Come From Contrasting Housing States

first_img Daniel Webster Jason Chaffetz Republicans Speaker of the House 2015-10-09 Brian Honea  Print This Post Speaker of the House Candidates Come From Contrasting Housing States Subscribe Share Save Daniel WebsterJason ChaffetzThe announcement from Rep. Kevin McCarthy (R-California) that he is withdrawing his name from consideration for the soon-to-be-vacant Speaker of the House position has left no clear successor to current Speaker John Boehner, but a couple of candidates have emerged as of late to compete for the top position in the U.S. House of Representatives.Reps. Jason Chaffetz (R-Utah) and Daniel Webster (R-Florida) have both announced their candidacy while Boehner, who originally announced that his resignation will be effective at the end of October, has now said he will remain Speaker of the House until a successor is found.”I am running for Speaker of the House of Representatives because I want to lead the way on tackling the toughest issues facing the United States of America,” Chaffetz said. “The American people have entrusted Republicans with the largest majority since the 1920s, but with that majority comes a responsibility to get the job done that we were elected to do. I came to Congress to help fix problems, and as Speaker I will fight every day to make that happen. I look forward to sharing my vision for the Speakership with my colleagues and the American people.”In an October 5 Tweet, Webster said, “This election is about fundamentally transforming Congress. I commit to serving Members as their Speaker of the House.”Rep. Paul Ryan (R-Ohio), the Republicans’ nominee for vice president in 2012, was reportedly asked by Boehner to run for Speaker of the House to succeed him\. But he announced that he will not run—although there is some speculation he will change his mind.One of the toughest issues facing the nation is the declining homeownership rate, which has fallen to its lowest level in five decades despite all the positive news from the housing market this year. Chaffetz and Webster come from different worlds when it comes to being affected by the housing crisis, however.”This election is about fundamentally transforming Congress. I commit to serving Members as their Speaker of the House.”—Daniel WebsterFlorida has been one of the states hit hardest by the foreclosure crisis. No state has seen more completed closures than Florida since 2008; for example, for the 12-month period ending July 31, 2015, there were 98,000 completed foreclosures in Florida—about one-fifth of the national total for that period, according to CoreLogic. Florida’s foreclosure rate has regularly been far higher than national averages; in July, it was 2.7 percent, more than double the national average of 1.2 percent.Webster has experience handling the effects of the housing crisis, having served as a Representative in Central Florida since 2011. He has vowed to strengthen Florida’s housing market and stabilize house prices by making sure that “over-intrusive” regulations imposed by Dodd-Frank are not shutting potential homebuyers out of the housing market, and also encouraged responsible savings toward a downpayment in order to create homeownership opportunities.Utah is a different story, however. Utah’s foreclosure rate and serious delinquency rate of 0.4 percent and 1.8 percent, respectively, for July 2015 are both far below the national averages of 1.2 percent and 3.4 percent, according to CoreLogic. According to the U.S. Census Bureau, Utah’s homeownership rate for 2009 to 2013—the years immediately following the housing crisis—was more than 5 percentage points higher than the national average (70.1 percent compared to 64.9 percent).Utah has not been as severely affected by the housing crisis as some states, including Florida, and changes in housing policy have not been at the forefront of issues in Utah. As the top Republican lawmaker in the House of Representatives, how would each of these candidates attack the problem of the nationwide declining homeownership? Would Chaffetz approach it any differently than Webster? Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Tagged with: Daniel Webster Jason Chaffetz Republicans Speaker of the House October 9, 2015 947 Views 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 ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Previous: Former Fed Chair Bernanke Says DOJ Should Hold Individuals Accountable for Crisis Next: DS News Webcast: Monday 10/12/2015 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Speaker of the House Candidates Come From Contrasting Housing States 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 Sign up for DS News Daily 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

Repeat Foreclosures Are Driving Uptick in Foreclosure Starts

first_img Related Articles Repeat Foreclosures Are Driving Uptick in Foreclosure Starts in Daily Dose, Featured, Foreclosure, News About Author: Brian Honea Share Save Tagged with: August 2015 Mortgage Monitor Black Knight Financial Services Foreclosure Starts Foreclosures Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: DS News Webcast: Monday 10/5/2015 Next: First-Lien Mortgage Performance Improves While Foreclosure Metrics Decline Amid all the good news for housing lately, foreclosure starts were up by 7 percent in August—driven by a rise in the amount of repeat foreclosures, according to the August 2015 Mortgage Monitor released by Black Knight Financial Services on Monday.Repeat foreclosures accounted for 57 percent of the 80,500 foreclosure starts reported in August, the largest share of repeat foreclosures for one month on record, according to Black Knight. While all foreclosure starts saw an increase of 7 percent month-over-month in August, the number of repeat foreclosures jumped by 13 percent.Coinciding with the substantial increase in repeat foreclosure starts in August was an nearly equally substantial decline in the number of first time foreclosure starts. According to Black Knight, first time foreclosure starts totaled 35,000 in August, their second-lowest total for one month since the crisis began (only April 2015 was lower).“The high incidence of repeat foreclosures is actually a testament to the lengths servicers have been going in terms of actively working with high delinquency loans and trying to find the best path to pursue with these borrowers,” said Ben Graboske, Chief Technology Officer for the Data and Analytics Division at Black Knight. “When this happens, loans move out of active foreclosure and back into 90+ days delinquent status, presumably to pursue loss mitigation efforts. If and/or when those fail, the loan is shifted back to foreclosure.”“The high incidence of repeat foreclosures is actually a testament to the lengths servicers have been going in terms of actively working with high delinquency loans and trying to find the best path to pursue with these borrowers,”The fact that the share of repeat foreclosure starts is increasing is not completely bad, according to Graboske.”The problem today lies with a smaller and smaller group of loans that have been distressed for many years now—over half of all loans in foreclosure have been past due for two years or more—and which have often gone in and out of foreclosure many times,” Graboske said. “When repeats are making up a greater and greater share of a smaller and smaller population (the population of loans in foreclosure has been steadily declining for quite some time now, despite the occasional bump in starts), it’s actually a good thing—not for those people, of course, but in terms of a barometer of overall recovery.”Overall, foreclosure starts were little changed over the year, seeing only a 1.3 percent decline from August 2014, according to Black Knight. Data Provider Black Knight to Acquire Top of Mind 2 days ago October 5, 2015 3,703 Views  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago August 2015 Mortgage Monitor Black Knight Financial Services Foreclosure Starts Foreclosures 2015-10-05 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 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. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Repeat Foreclosures Are Driving Uptick in Foreclosure Starts Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Carrington Charitable Foundation Inaugural Gala Supports Veterans

first_imgHome / Featured / Carrington Charitable Foundation Inaugural Gala Supports Veterans Carrington Charitable Foundation Inaugural Gala Supports Veterans Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Carrington Charitable Foundation (CCF), the nonprofit organization of The Carrington Companies, hosted its inaugural Gala on Saturday, June 3, 2017, at the Belle Haven Club in Greenwich, Connecticut against the backdrop of the Long Island Sound. The first annual event raised more than $500,000 to support Veterans returning from post-9/11 battlefields through CCF initiatives.These initiatives will provide three separate areas of support, the first being mobility. CCF financially supports The Veterans Airlift Command (VAC). The VAC provides free private air transportation to wounded Veterans from Iraq and Afghanistan conflict areas through a national network of volunteer aircraft owners and pilots.The second area of support is stability—Carrington House provides custom, adaptive homes for catastrophically injured Veterans; and the final area is to enrich Veteran’s sense of purpose and prosperity, which supports Veterans’ return to civilian life after their time of service through their newest initiative, the Veteran Support Program.“We couldn’t be more pleased with the results of the Gala, and we are deeply grateful for the generosity of our donors for their support of the Carrington Charitable Foundation mission and the wounded Veterans we serve,” said Shelly Lawrence, Executive Director of Community Relations, Carrington Charitable Foundation. “Our commitment to supporting our military heroes has been strengthened by the success of this inaugural event.”In addition to the Gala, CCF also hosts the Carrington Charitable Foundation Annual Golf Classic at The Resort at Pelican Hill in Newport Beach, California. The 2017 event will take place October 9, 2017. Servicers Navigate the Post-Pandemic World 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 Tagged with: Carrington Charitable Foundation Charity Veterans  Print This Post Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago in Featured, Headlines, News 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] Share Save Carrington Charitable Foundation Charity Veterans 2017-07-07 Joey Pizzolato July 7, 2017 1,522 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The TRID Picture Becomes Clearer Next: Collingwood Announces New Managing Director 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 About Author: Joey Pizzolatolast_img read more

The Week Ahead: Senate Committee to Reconvene on Powell Nomination

first_img in Daily Dose, Featured, Government, Market Studies, News The Best Markets For Residential Property Investors 2 days ago December 3, 2017 1,107 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago 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] The Week Ahead: Senate Committee to Reconvene on Powell Nomination Sign up for DS News Daily On Tuesday, the Committee on Banking, Housing, and Urban Affairs will meet in an Executive Session to further consider the nomination of Jerome Powell as Chairman of the Federal Reserve.Last week, Powell faced intense questioning from both party lines about his nomination during a lengthy session before the U.S. Senate Committee on Banking, Housing, and Urban Affairs. Topics ranged from Powell’s philosophy on deregulation, to interest rates and shrinking the size of the Fed’s balance sheet, to the potential effects of tax reform.The Senate Banking Committee wrapped up the session by calling for Senators to submit any further questions they had for the record by Friday, December 1, at noon. The Committee asked for Powell’s responses to those questions to be submitted by Monday, December 4, at 10 a.m.If confirmed, Powell would replace Janet Yellen, who announced her retirement from the Fed’s Board of Governors in early November, following Powell’s nomination as Fed Chair by President Trump.The hearing will begin December 5, 2017, at 10:00 a.m. EST.To watch the hearing live, click here. Also to be released this week:Black Knight Mortgage Monitor report, Monday at 12:01 a.m. ESTFederal Deposit Insurance Corporation webinar, Friday at 2:00 p.m. ESTThe Bloomberg Consumer Comfort Index, Thursday at 9:45 a.m. ESTThe Fed’s Balance Sheet, Thursday at 4:30 p.m. ESTThe Employment Situation, Friday at 8:30 a.m. EST The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Nicole Casperson Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Week Ahead: Senate Committee to Reconvene on Powell Nominationcenter_img Demand Propels Home Prices Upward 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Previous: Black Knight Launches Robotics Capabilities in the LoanSphere Empower LOS Next: HouseCanary Announces New Partnerships The Week Ahead: Nearing the Forbearance Exit 2 days ago HOUSING Jerome Powell mortgage Senate Committee on Banking Housing and Urban Affairs the week ahead 2017-12-03 Nicole Casperson Share Save Tagged with: HOUSING Jerome Powell mortgage Senate Committee on Banking Housing and Urban Affairs the week ahead Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Wildfires and Low Inventory to Strain Southern California Housing Market

first_img Wildfires and Low Inventory to Strain Southern California Housing Market Tagged with: California HOUSING Inventory Southern California wild fires Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Wildfires and Low Inventory to Strain Southern California Housing Market As the Thomas Fire continues to rage, becoming the fourth largest fire in California’s wildfire history, homeowners in the path of its destruction are likely to face a challenging time even after it subsides.According to the latest housing market report released by Redfin, home inventory in Ventura and Santa Barbara counties has declined in double-digits for three months straight. The wildfires could exacerbate this shortage in areas where wildfires have already destroyed many homes and are threatening to destroy many more.Redfin’s report said that, while it is too early to know how many homes and families will be impacted, Los Angeles, Ventura, and Santa Barbara counties were already facing a shortage of homes for sale. Families displaced by the wildfires will likely find it challenging to find another home for sale nearby.“The fires have had a big impact on the people and communities in and around Ventura, Ojai, and Santa Barbara,” said John Venti, an agent at Redfin. “Our already low inventory levels are likely to take a beating in the coming months, not only from the loss of homes but also the disruption of life and business in the area.” In Ventura County in November, inventory was down 17.6 percent and prices grew 9.8 percent year-over-year to a median of $600,000. In Santa Barbara County, inventory was down 23.3 percent and prices grew 6.8 percent year-over-year to a median of $575,000.But analysts are hopeful for a resilient market. Nela Richardson, Chief Economist at Redfin, said, “Markets have been quick to recover from severe weather events, even as challenges remain. For example, Houston home sales were up 4.3 percent in November from a year ago, and Tampa sales were up 6.1 percent. We are hopeful that Southern California markets show the same level of resilience in the aftermath of wildfires there.” The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: The Industry Pulse Next: How Could Blockchain Reshape the Industry? Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Savecenter_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Journal, News Related Articles California HOUSING Inventory Southern California wild fires 2017-12-14 Staff Writer  Print This Post December 14, 2017 1,791 Views Demand Propels Home Prices Upward 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

Title, Mortgage Companies Partner to Benefit Customers

first_img 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 Share Save Digital digital closings 2019-04-26 Mike Albanese in Featured, News Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Change in Leadership Announced for FHFA Next: GDP Gets a Boost, But How Is Housing Faring? About Author: Mike Albanese Tagged with: Digital digital closings Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img Title, Mortgage Companies Partner to Benefit Customers Governmental Measures Target Expanded Access to Affordable Housing 2 days ago April 26, 2019 766 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Hightide Settlement Services, LLC, a provider of title and settlement services, is now offering eClosings through Pavaso, a supplier of digital mortgage closing technologies.Hightide, located in California, uses its experience and expertise to tailor comprehensive, customized solutions for every title and settlement need. Pavaso expands the range of options available to Hightide customers and helps deliver faster, more convenient closings.The Texas-based Pavaso platform breaks down traditional silos and brings everyone in the homebuying transaction together in the same digital environment, where they can seamlessly communicate, collaborate and securely exchange information throughout the entire closing process. Designed by industry veterans to simplify the closing experience, Pavaso can help save time, reduce costs and streamlines processes.“Hightide is always looking for new ways to improve the customer experience and adapt to the demands of a changing industry,” said Keith D. Murray, Hightide’s President and Chief Executive Officer. “The Pavaso platform helps Hightide do both. Not only does Pavaso give our customers more choices and convenience, but it also gives us tools to maximize efficiency and remain competitive in the digital age.”“Our comprehensive eClosing solution provides the flexibility to deliver a full eClosing, a hybrid closing or even a traditional paper closing,” said Cheryl Baillis, Executive Vice President of Operations at Pavaso. “We understand the importance of the customer experience and believe in providing the ability to choose the closing method they’re most comfortable with and that best meets their needs. Our goal is to add convenience to everyone involved in the real estate transaction.” Home / Featured / Title, Mortgage Companies Partner to Benefit Customers Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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.  Print This Post Subscribelast_img read more

Michigan Governor Signs Legislation to Mitigate Foreclosure Issues

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Michigan Governor Signs Legislation to Mitigate Foreclosure Issues A news outlet in Detroit said officials from the city and Wayne County have taken action against problems it has had with foreclosures. Michigan Gov. Gretchen Whitmer signed a bill into law Monday, allowing for relief on late payment fees, back taxes, and fines.  A report said 31,000 low-income residents in Wayne County can qualify for the program. Detroit Mayor Mike Duggan said there are hoops to jump through when signing up fo4r the Pay as You Stay Program. “Fill out that form and get it in, and if you get it in and it gets approved by the city by March 28, treasurer Eric Sabree will stop any foreclosure process right now,” Duggan said.The income thresholds are on a sliding scale, starting at $22,000 or less for an individual or $32,000 with a family of four.Detroit announced Wednesday it is expanding its Homeowners Property Tax Assistance Program (HPTAP).The main change to the program is that it will now offer a 25% property tax exemption to homeowners within certain income thresholds. Previously, homeowners could qualify for either 50% or 100% property tax exemptions if their incomes were below certain amounts. Now homeowners earning above those amounts can also qualify for some tax assistance.The program previously offered 100% property tax exemptions to families of two earning $22,754 or less. Families of two earning $23,336 or less could qualify for a 50% property tax exemption.Under the updated program, families of two earning $25,703 or less can qualify for a 25% property tax reduction. For a full chart of income eligibility and information on applying for a full or partial property tax exemption, residents can visit the city of Detroit’s website. The city is now accepting applications.“This year we set out to increase the number of Detroit families assisted through HPTAP, and I am proud of our work in collaboration with Quicken Loans Community Fund, United Community Housing Coalition, and community groups to meet this goal,” said Detroit Chief Financial Officer David Massaron with the announcement of the HPTAP program expansion. Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, News  Print This Post Foreclosure Legislation Michigan 2020-03-03 Mike Albanese March 3, 2020 2,043 Views Related Articles The Best Markets For Residential Property Investors 2 days ago Share Save Michigan Governor Signs Legislation to Mitigate Foreclosure Issues Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Tagged with: Foreclosure Legislation Michigan Servicers Navigate the Post-Pandemic World 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. About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 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 The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Industry Reacts to Fed’s Coronavirus Response Next: Was Subprime Lending Really to Blame for Great Recession? Subscribelast_img read more

Housing Trends and Georgia’s Political Fortunes

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Housing Trends and Georgia’s Political Fortunes Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Georgia surprised the nation during this presidential election when it turned blue for the first time in 28 years. According to a new report from Redfin, recent migration from liberal parts of the country to Georgia may have been a factored in the state’s election outcome. The report states that Georgia—the sixth state with the largest net inflow of people in 20—has seen people from more expensive, liberal cities like New York, Washington D.C., and Los Angeles move to Atlanta. These newcomers are likely drawn to Georgia because of its affordability in comparison to other popular cities across the country. The typical Atlanta home sold for $285,000 in October. This is a sizable discount compared to the typical home in the New York City metro (excluding Manhattan) which sold for $550,000 in the same month. Homes sold for $458,000 in Washington, D.C., $735,000 in Los Angeles, and $1.43 million in San Francisco during October of this year.It is understandable how many people from pricey cities outside of Georgia are flocking to the Southern state to take advantage of its affordable homes. Since COVID-19 has led many Americans to work remotely, this may be another incentive for people to move to more affordable metros away from where they may have worked before the pandemic.Most out-of-state city dwellers who have recently searched on Redfin for Atlanta homes came from New York City. This October, 37.3% of searches for Atlanta homes from outside the area coming from New York. The other top four cities of origin for Redfin users looking for homes in Atlanta were Washington, D.C., Los Angeles, the Bay Area, and Chicago.In 2019, there were approximately 50,000 more people moving into Georgia than there were people moving out. Data from the U.S. Census Bureau shows a steady increase in the net inflow of people moving to Georgia since 2011. In October 2020, Redfin reports that 26% of searches on its site for Atlanta homes came from people outside of the state. The city was the fifth most popular city overall among Redfin users searching for a new home outside of their state, and there has been a 43% increase in the net inflow of people looking to move to Atlanta since 2019.These recent shifts in Georgia migration patterns may have played a key role in the state’s presidential election results this year. President Trump won Georgia in 2016 by approximately 211,000 votes. This year, President-elect Joe Biden won Georgia by about 13,000 votes, and he won Fulton County, where Atlanta is located, by 46 percentage points. This is an increase from the 40.6 percentage-point advantage that Democrats had in the county back in 2016. However, this is not the only Georgia county that experienced increases in Democratic votes this year compared to 2016. Georgia’s other most populous counties besides Fulton also saw gains. Gwinnett (18 points, up from 5.8), Cobb (14 points, up from 2.2), and DeKalb (67 points, up from 62.9) were all counties that voted Democratic by bigger margins than they did four years ago.Smaller suburbs in Georgia also saw a higher turnout of Democratic voters this year. Joe Biden won the suburbs of Atlanta by 30.5 percentage points. In 2016, Hillary Clinton won these suburbs by a 23.4-point margin in 2016 and Barack Obama won them by a 13.2-point margin in 2012. This increase in Democratic voters in Atlanta’s suburb may be connected to the rise in diversity among the suburbs’ population. As of 2018, people of color made up slightly more than 46% of the suburban population surrounding Atlanta. In 2010, people of color made up 43.4% of this population. This shows more diversity in Atlanta suburbs compared to the nationwide suburban population, which had a 28% share of people of color in 2018. Data indicates that this increase in diversity among Georgia’s suburbs, as well as an overall influx of out-of-state newcomers into Georgia, may have played a part in turning the state blue this year. Servicers Navigate the Post-Pandemic World 2 days ago 2020 election affordable cities atlanta Georgia migration patterns 2020-12-03 Cristin Espinosa Tagged with: 2020 election affordable cities atlanta Georgia migration patterns Previous: Increasing Natural Disasters Endanger Affordable Housing Supply Next: Distressed Property Investing in the Coming Year About Author: Cristin Espinosa Home / Daily Dose / Housing Trends and Georgia’s Political Fortunes The Best Markets For Residential Property Investors 2 days ago Cristin Espinosa is a reporter for DS News and MReport. She graduated from Southern Methodist University where she worked as an editor and later as a digital media producer for The Daily Campus. She has a broadcast background as well, serving as a producer for SMU-TV. She wrote for the food section during her fellowship at The Dallas Morning News and has also contributed to Advocate Magazine and The Dallas Observer. center_img Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago December 3, 2020 937 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more