Zombie Foreclosures Decline Quarterly, Annually

first_img Foreclosures RealtyTrac Zombie Foreclosures 2014-10-29 Brian Honea 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The number of “zombie” foreclosures in the U.S. declined both quarter-over-quarter and year-over-year in the third quarter of 2014, according to RealtyTrac’s Q3 2014 Zombie Foreclosure Report released today.Zombie properties, which are residential properties in the process of foreclosure that have been deserted by the owner but are not yet fully foreclosed upon, totaled 117,298 nationwide in Q3, according to RealtyTrac. This was a decline of 17 percent from Q2 2014 (141,406) and of 23 percent from Q3 2013 (152,033). Zombie properties comprised 18 percent of all active foreclosures in the U.S. in Q3. Most of these zombie properties will likely end up as short sales, foreclosure auction sales, or bank-owned (REO) sales. Zombie properties accounted for about 18 percent of all active foreclosures in Q3 2014, according to RealtyTrac.”The most effective preventative vaccine for the blight caused by vacant, abandoned foreclosures has proven to be a short and efficient foreclosure process,” said Daren Blomquist, VP at RealtyTrac. “Absent that, the best antidote for a zombie foreclosure infestation is a pro-active land bank program like that in Cleveland and more recently Chicago designed to aggressively take possession of vacant foreclosures and rehab or demolish them. Meanwhile, markets with lengthy and lengthening foreclosure timelines have unintentionally created a zombie foreclosure breeding ground. As we see a backlog of delayed distress finally hit the foreclosure pipeline in some of those markets, the problem is coming more to light.”The number of zombie foreclosures declined year-over-year in 33 states and in 152 out of 212 metropolitan areas (60 percent) with a population of more than 200,000 in Q3, according to RealtyTrac. The state that saw the biggest year-over-year decline was Missouri, at 73 percent, followed by Virginia (59 percent), California (56 percent), Massachusetts (46 percent), New Hampshire (45percent), and Illinois (44 percent).The metro area with the largest drop in zombie foreclosures from Q3 2013 to Q3 2014 was Portland, Oregon, at 53 percent. Cleveland, Phoenix, and Boston each saw a decline of 52 percent, and zombie foreclosures fell by 51 percent year-over-year in Jacksonville, Florida, RealtyTrac reported.Of the 16 states that saw a year-over-year increase zombie foreclosures for Q3, New Jersey led the way with 75 percent, followed by North Carolina (65 percent), Oklahoma (37 percent), New York (30 percent), and Alabama (29 percent), according to RealtyTrac. The five metro areas that experienced the largest year-over-year increase in zombie foreclosures were Trenton, New Jersey (106 percent), Atlantic City, New Jersey (98 percent), Rochester, New York (49 percent), Washington, D.C. (up 40 percent), and New York, New York (38 percent). Zombie Foreclosures Decline Quarterly, Annually Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Previous: Grant Program Creates Opportunities for Homeownership in Cincinnati Next: Allstate Appraisal, Bradford Launch Third-Party Inspection Product About Author: Brian Honea Home / Daily Dose / Zombie Foreclosures Decline Quarterly, Annually Data Provider Black Knight to Acquire Top of Mind 2 days ago October 29, 2014 1,162 Views center_img in Daily Dose, Featured, Foreclosure, News Share Save Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Foreclosures RealtyTrac Zombie Foreclosures The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days agolast_img read more

Report: Credit Rater, DOJ Could Settle By End of Week for $1.37 Billion Over RMBS Ratings

first_img The Best Markets For Residential Property Investors 2 days ago Related Articles Department of Justice Lawsuits RMBS Standard & Poor’s 2015-01-29 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago January 29, 2015 817 Views Servicers Navigate the Post-Pandemic World 2 days ago 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 Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Report: Credit Rater, DOJ Could Settle By End of Week for $1.37 Billion Over RMBS Ratings Demand Propels Home Prices Upward 2 days agocenter_img New York-based credit ratings agency Standard & Poor’s Ratings Services could enter into a settlement for more than $1 billion with the U.S. Department of Justice over the misrepresentation of mortgage-backed securities to investors before the end of the week, according to multiple media reports.The settlement could total as much as $1.37 billion, according to some reports. The Department of Justice sued S&P for $5 billion in February 2013 alleging that the credit ratings agency “knowingly and with the intent to defraud, devised, participated in, and executed a scheme to defraud investors” in collateralized debt obligations and residential mortgage-backed securities between 2004 and 2007. The suit also claims that S&P “falsely represented that its credit ratings of RMBS and CDO tranches were objective, independent, uninfluenced by any conflicts of interest that might compromise S&P’s analytical judgment.”S&P, a division of McGraw Hill Financial, issued ratings for more than $2.8 trillion worth of RMBS and nearly $1.2 trillion of CDO during the three-year period from September 2004 to October 2007, the complaint says. The case is scheduled to go to trial in September if a settlement is not reached.The Department of Justice has already reached settlements with some of the nation’s largest banks to resolve allegations that the lenders knowingly packaged and sold toxic mortgage-backed securities in the run-up to the financial crisis. JPMorgan Chase settled for then-record $13 billion in November 2013 and Bank of America agreed to a record $16.65 million settlement in August 2014. S&P is the first credit ratings agency to be sued by the Department of Justice’s mortgage-backed securities group.When reached by email, spokespeople for both S&P and the Department of Justice declined to comment on the possibility of a settlement. S&P has said the Justice Department’s lawsuit is retaliation against the credit rater for downgrading the U.S. debt in 2011, an accusation that the Justice Department has denied. S&P claims the Justice Department did not sue the credit rater’s competitors even though they gave the same securities the same ratings that S&P did.As part of the pending settlement, S&P will not have to admit any wrongdoing, but will agree to a statement outlining its actions, according to reports.S&P has not only been in trouble recently over its ratings of residential mortgage-backed securities, but commercial mortgage-backed securities as well. On January 21, S&P agreed to a $77 million settlement with the U.S. Securities and Exchange Commission to resolve claims of fraudulent misconduct regarding its ratings of CMBS. in Daily Dose, Featured, News, Secondary Market About Author: Brian Honea Previous: Flipping Still Near Historic Averages in Some Areas Next: Wayne County, Michigan, Begins Tax Foreclosure Hearings Subscribe Home / Daily Dose / Report: Credit Rater, DOJ Could Settle By End of Week for $1.37 Billion Over RMBS Ratings 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Share Save Tagged with: Department of Justice Lawsuits RMBS Standard & Poor’slast_img read more

Fed: Household Debt Increases

first_imgHome / Daily Dose / Fed: Household Debt Increases The Week Ahead: Nearing the Forbearance Exit 2 days ago Fed: Household Debt Increases in Daily Dose, Featured, Market Studies, News Tagged with: Household Debt Mortgage Debt New York Fed Student Loans Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Comment Period for Amendments to CFPB’s TILA/RESPA Rules Open Until March 16 Next: DS News Webcast: Wednesday 2/18/2015 Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago February 17, 2015 1,281 Views Sign up for DS News Daily Americans stepped up their borrowing in the fourth quarter, with mortgage activity leading other categories.The Federal Reserve Bank of New York said Tuesday that outstanding household debt increased $117 billion from the third quarter of last year to the fourth, putting total indebtedness at about $11.8 trillion as of the end of 2014.Balances went up across most categories, led by a $39 billion increase in mortgage debt to a total of $8.2 trillion. Student loan debt—a commonly cited obstacle for recent college graduates interested in owning a home—followed closely, increasing $31 billion to a total of $1.2 trillion.As student debt rose, delinquencies worsened, with about 11.3 percent at least 90 days past due compared to 11.1 percent at the end of Q3.”Although we’ve seen an overall improvement in delinquency rates since the Great Recession, the increasing trend in student loan balances and delinquencies is concerning,” said Donghoon Lee, research officer at the New York Fed. “Student loan delinquencies and repayment problems appear to be reducing borrowers’ ability to form their own households.”Mortgage originations, measured as appearances of new mortgage balances and refinance mortgages, increased to $355 billion, still low by historical standards, the New York Fed said.Among other findings: both auto loan and credit card debt also increased, rising $21 billion and $20 billion, respectively. Outstanding debt for home equity lines of credit fell, meanwhile, dropping $2 billion to a total of $510 billion.Meanwhile, the number of credit inquiries within six months—tracked as a gauge of demand for consumer credit—increased by 4 million quarter-over-quarter, reaching 175 million. Related Articles Share Save Subscribe Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Tory Barringer Household Debt Mortgage Debt New York Fed Student Loans 2015-02-17 Tory Barringer Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Freddie Mac Announces Additional Hurricane Help

first_img Freddie Mac Announces Additional Hurricane Help About Author: Brianna Gilpin Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Headlines, News, Secondary Market Sign up for DS News Daily Freddie Mac recently announced their efforts to help those affected by the continued hurricane season through updates to their temporary Selling and Servicing requirements in Single-Family Seller/Servicer Guide Bulletin 2017-2021.The additional information includes reimbursing Sellers through September 2018 for property inspections completed prior to mortgage sale or securitization of mortgages secured by properties in Eligible Disaster Areas as a result of a 2017 hurricane, announcing a temporary reimbursement process for property inspections of mortgaged premises located in Eligible Disaster Areas that are conducted by Servicers on and after August 29, 2017, and extending the scope of its temporary selling and Servicing requirements related to Hurricane Harvey and Hurricane Irma in Bulletins 2017-14, 2017-16 and 2017—to mortgages and borrowers whose mortgaged premises or places of employment are in Eligible Disaster Areas impacted by all hurricanes on and after August 25, 2017, and through the 2017 hurricane season.For Servicers, Freddie Mac added that the temporary suspension of foreclosure sales and evictions will only apply to mortgaged premises located in an Eligible Disaster Area as a result of hurricanes Harvey, Irma, and Maria. Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Tagged with: Freddie Mac Hurricane Relief Servicers Navigate the Post-Pandemic World 2 days ago October 1, 2017 1,406 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Freddie Mac Announces Additional Hurricane Helpcenter_img Freddie Mac Hurricane Relief 2017-10-01 Brianna Gilpin Previous: The Week Ahead: Wells Fargo, One Year Later Next: HouseCanary Announces New Additions Demand Propels Home Prices Upward 2 days ago Share Save Subscribe Demand Propels Home Prices Upward 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

The Hidden Costs of Selling a Home

first_imgHome / Daily Dose / The Hidden Costs of Selling a Home The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Journal, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Related Articles Tagged with: Hidden Costs of Selling home improvements Home Sales Thumbtack Zillow  Print This Post 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 Previous: HARP Loans Continue Outperforming Pre-Crisis Mortgages Next: Ripple Effectcenter_img 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 Hidden Costs of Selling a Home Share Save According to a new study by Zillow and Thumbtack.com, U.S. homeowners are spending an average of nearly $20,000 to sell their homes in 2018. The exact total is $18,342, according to Zillow and Thumbtack’s 2018 Hidden Costs of Selling analysis, which breaks down several common expenses associated with selling a home that some homeowners don’t necessarily think of when they decide to sell.The 2017 Zillow Group Consumer Housing Trends Report indicated that sellers spend an average of five months considering seller their home before finally listing it. That’s a lot of time to consider all the angles, but there are many costs that slip below the radar for many of these sellers, especially since 61 percent of today’s sellers have never sold a home before. “Even in the hottest housing markets in the country, selling a home takes time and costs money,” says Jeremy Wacksman, Zillow’s CMO. “From decluttering and staging to pre-inspections, agents and homeowners often spend months behind the scenes prepping a home—well before it’s listed on the market.”Zillow and Thumbtack found that 78 percent of sellers make at least one improvement to their home before listing it. For sellers who hire professional help for these improvements, the average expense on projects such as “painting, staging, carpet cleaning, lawn care and gardening, and local moving costs” comes to around $4,985. However, those costs can vary wildly depending on the state of the local market. In San Jose, California, that total for comparable projects would average $6,580, whereas sellers in Dallas, Texas, could expect to pay an average of $3,720.Commissions for real estate agents and taxes are where things really start to add up, with sellers spend an average of $13,357 nationally on those fees. Naturally, the market drives those prices up or down accordingly. Back in the aforementioned San Jose, that average soars to $74,927 for a median-priced house. In Indianapolis, which features lower home values and no state transfer tax, the average is only $8,604.”While there could be some initial sticker shock associated with the costs of selling a home, investing in home improvement projects like painting and home staging often proves to be very valuable in the long-run,” said Lucas Puente, an economist for Thumbtack. “Homeowners starting to think about selling should take time to research and budget for the projects that can ultimately help sell their home faster and at a higher value.”According to a recent report by Redfin, while national median home prices rose almost 9 percent (to $285,000) in February, the number of homes for sale dropped more than 11 percent from January and were flat compared to a year ago. It was the twenty-ninth consecutive month inventory suffered, while prices keep going up. Only six of 73 metros saw sales grow by double digits from last year, the report said. Louisville led the nation in year-over-year sales growth, up 25 percent, followed by Greenville, South Carolina, which was up 18 percent. The Best Markets For Residential Property Investors 2 days ago March 27, 2018 2,917 Views Hidden Costs of Selling home improvements Home Sales Thumbtack Zillow 2018-03-27 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: David Wharton Subscribelast_img read more

For Houses, Being Green Is Easier Than You Think

first_img David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Servicers Navigate the Post-Pandemic World 2 days ago For Houses, Being Green Is Easier Than You Think About Author: David Wharton in Daily Dose, Featured, Journal, Market Studies, News An April 2018 membership survey by the National Association of Realtors found that 71 percent of those surveyed felt that the promotion of energy efficiency in their listings was either somewhat or very valuable. However, do eco-friendly features in a home guarantee a higher price point? Not necessarily, according to a recent analysis by Realtor.com.To determine if greener homes typically necessitate a higher price, Realtor.com examined current listings in the top 200 U.S. metros, looking for eco-friendly amenities such as solar panels, smart thermostats, or bamboo floors. From there, they attempted to determine whether these green features consistently corresponded with higher prices for the homes involved. So, what did they find?”Although Southern and Western states still lead the way in green technology adoption, eco-friendly features have grown in popularity across many regions of the United States,” said Javier Vivas, Director of Economic Research for Realtor.com. “Many buyers have come to expect standard features, and homes integrating specialty green features are becoming more mainstream. However, in today’s inventory-starved market, location still reigns supreme and the price of land can easily override the allure of special eco-friendly features.”Fort Collins, Colorado, was the metro most with the most homes featuring eco-friendly features as of the time of Realtor.com’s survey. The Fort Collins area boasted green features in 36 percent of its April 2018 listings. The Dallas-Fort Worth-Arlington, Texas, and San Jose/Sunnyvale/Santa Clara, California metros were close behind with 35 percent of their April listings featuring eco-friendly amenities.Within these top three markets, the relationship between green features and price point was by no means consistent. Realtor.com found that “green” home were going for essentially the median home price in Fort Collins. In Dallas, green features would bump the home price up by around four percent. In Sunnyvale/San Jose/Santa Clara, some of the green homes were actually selling for five percent below the median home price. Realtor does point out that California’s high median home price should be factored into this analysis, however.Tulsa, Oklahoma, featured the highest premium for green features among the top 10 “green” metros—homebuyers could expect to pay as much as 19 percent more to nab that solar-powered dream home. In Salinas, California, however, Realtor.com found green listings available at 14 percent below the median home price.To read the full report on green homes and affordability, click here. eco-friendly green homes Home Prices sustainability 2018-05-03 David Wharton Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / For Houses, Being Green Is Easier Than You Think Related Articles  Print This Post Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img May 3, 2018 1,595 Views Demand Propels Home Prices Upward 2 days ago Tagged with: eco-friendly green homes Home Prices sustainability Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Nationstar Reports Strong Servicing Performance Next: Industry Icon Robert Klein Passes Away at 65 Demand Propels Home Prices Upward 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Industry Veteran Brad Blackwell Announces Retirement

first_img Share Save May 14, 2018 3,042 Views The Best Markets For Residential Property Investors 2 days ago Industry Veteran Brad Blackwell Announces Retirement The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Mortgage Relief for Those Impacted by Hawaiian Volcano Next: Banking Committee Considers Fed Nominees Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Brad Blackwell Wells Fargo After 17 years at Wells Fargo, Brad Blackwell, EVP, Housing Policy and Homeownership Growth Strategies at Wells Fargo Home Lending, has announced that he will retire, effective September 1, 2018.Blackwell leads the development and advocacy for housing policy and the development of strategies to increase homeownership in the U.S. at Wells Fargo. “My passion is helping minority and LMI families to become homeowners. In my remaining time at Wells, I will be working hard to increase our capability to serve these consumers,” Blackwell said in a social media post while announcing his retirement. “After that, I will be spending time with my two new grandchildren, traveling with the love of my life, and enjoying family and friends.”A veteran of the financial services industry, Blackwell was EVP, Portfolio Business Manager at Wells Fargo Home Mortgage until 2016, where he was responsible for building stronger capabilities to generate home equity and non-conforming mortgage loans for the bank.Blackwell’s passion for homeownership development in the country has resulted in Wells Fargo introducing new programs that promote diversity and inclusion not only within the bank but also towards its vendors and suppliers.Speaking to MReport for its June issue on Diversity, on the subject of Wells Fargo’s plans on supplier diversity, Blackwell said, “Wells Fargo is taking a leadership position within the banking industry by placing diverse supplier growth within its strategic business agenda. We establish aggressive spending goals with diverse suppliers, and each one of the CEO’s direct reports is accountable for delivering on the supplier diversity goals.” Over the past three years, Wells Fargo has added $300 million incremental diverse supplier spend and is investing over $1 million annually in programs designed to help a diverse business grow and scale.Though he’ll be retiring in September, Blackwell hinted at planning to continue his work to promote homeownership. “I’ll be back in the not-too-distant future to pursue my passions in some form or another,” he said in his post. About Author: Radhika Ojha 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 agocenter_img Brad Blackwell Wells Fargo 2018-05-14 Radhika Ojha in Daily Dose, Featured, Journal, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Home / Daily Dose / Industry Veteran Brad Blackwell Announces Retirement Sign up for DS News Daily Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Postlast_img read more

HSBC Next to Pay Reparations for Pre-Crisis Conduct

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago HSBC Next to Pay Reparations for Pre-Crisis Conduct Share Save Servicers Navigate the Post-Pandemic World 2 days ago Previous: Freddie Mac Initiative Brings Affordable Homes to Three Cities Next: Cities With the Biggest Jumps in Single-Family Rentals About Author: Kristina Brewer Related Articles Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. Sign up for DS News Daily Home / Daily Dose / HSBC Next to Pay Reparations for Pre-Crisis Conduct August 6, 2018 1,998 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Foreclosure, Headlines, Journal, News 2018-08-06 Kristina Brewer HSBC will be paying a $765-million fine to the Department of Justice, as representative of the United States, over its contributions from the bank that lead up to the 2008 housing and financial crisis. The details of the settlement were reported in the bank’s second-quarter earnings report, relating to RMBS transactions occurring between 2005 to 2007.Under the section titled “US mortgage securitisation (sic) activity and litigation” within the earnings report, it was stated that the settlement-in-principle was reached to resolve the DoJ’s civil claim “relating to its investigation of HSBC’s legacy RMBS origination and securitisation (sic) activities from 2005 to 2007.”The details of the settlement were described as “subject to the negotiation of definitive documentation,” with the caveat that there is no assurance the two entities will agree on final documentation. From 2005 to 2007, HSBC Bank USA purchased and sold about $24 billion worth of loans to HSBC Securities (USA) Inc., which were subsequently securitised and sold by HSI to third parties. “In addition,” the statement continued, “HSI served as an underwriter on securitisations issued by HSBC Finance Corporation or third parties, and HSBC Bank USA served as trustee on behalf of various mortgage securitisation trusts.”The bank reported pre-tax profits of $6 billion for the three months ending June 30, up 13 percent in year-over-year comparison. Revenue for this same period rose around 1.5percent to $13.7billion, despite what was reported as yet another difficult period for its trading division.“In June this year, I announced eight strategic priorities for the bank between now and 2020,” John Flint, Group Chief Executive said. “These have two aims—to get HSBC back to growth and to create value. We will seek to achieve these aims by increasing returns from the Group’s areas of strength, particularly in Asia and across our network; turning around low-return businesses of high strategic importance, particularly in the United States; investing in building a bank for the future with the customer at its centre; and making it easier for our colleagues to do their jobs.”last_img read more

Brian Montgomery on the Future of FHA

first_img Share Save The Hon. Brian D. Montgomery, FHA Commissioner and Assistant Secretary for Housing, U.S. Department of Housing and Urban Development, headlined a powerful lineup of industry professionals who gathered Monday as part of the Legal League 100 Servicer Summit. A long-running industry tradition, this latest Summit unfolded as part of the annual Five Star Conference and Expo at the Hyatt Regency in Dallas, Texas.Montgomery spoke about his return to HUD during a Q&A with Five Star Institute President and CEO Ed Delgado. Having served as FHA Commissioner from 2005 to January 2009, Montgomery stepped back into the role in May 2018, following his nomination by President Donald J. Trump and confirmation by the Senate. Montgomery also previously served as Vice Chairman of The Collingwood Group and, before initially joining HUD, he worked in the Executive Offices of President George H.W. Bush and President George W. Bush.Montgomery’s Q&A came amidst a day filled with networking and education opportunities at the Summit, a biannual event that brings together the League’s lineup of financial services attorneys, servicing professionals, and government representatives.In addition to Montgomery’s Q&A, the day’s lineup included a morning keynote address by Marion McDougall, EVP & Chief Loan Administration Officer, Caliber Home Loans. The bulk of the event was divided between a half-dozen 45-minute sessions focused on a variety of topics and featuring the insights of subject-matter experts and industry professionals.First up was “Working Smarter: Developing Effective Loss Mitigation Procedure,” which explored recent regulatory and litigation developments, as well as what procedures financial services law firms should develop to ensure full compliance. The “Pulling in the Same Direction: Collaborating to Improve Title Processes” session ran concurrently, focused on how servicers and law firms can partner to reduce title errors that can mean the difference between the transfer of an unencumbered property and lengthy litigation.After the 10 a.m. Networking Break, the Summit picked back up with a pair of simultaneous roundtable sessions: “Keeping up With the Code: Adaptive Bankruptcy Practices” and “Litigation Developments: The Rulings That Make the Rules.” Before the lunch break at noon, attendees were able to take in both the “Creative Management: Maintaining Viability in a Low-Volume Environment” and “Inside the Lines: Navigating Emerging Regulatory Concerns” sessions.Montgomery’s Q&A followed the lunch break, then led into the Servicer Super Session, in which Legal League 100 Chair Roy Diaz discussed trends and collaboration with a panel that included Allen Myers, Assistant General Counsel, VP, Mortgage Banking, JPMorgan Chase; Stephen Staid, SVP, PHH Mortgage; Ruth Price, First VP, Compliance & Oversight, Bayview Loan Servicing; and Ramie Word, SVP, Performing Servicing, Mr. Cooper.This week’s Legal League 100 Summit was sponsored by a360, Auction.com, BDF Law Group, McCalla Raymer Leibert Pierce, McCarthy Holthus, ProVest, Robertson Anschutz & Schneid, and Stern & Eisenberg.To learn more about the Legal League 100, visit the official website. The Best Markets For Residential Property Investors 2 days ago Brian Montgomery on the Future of FHA The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: David Wharton Servicers Navigate the Post-Pandemic World 2 days ago Five Star Conference FSC 2018 Legal League 100 LL100 LL100 Summit 2018-09-17 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Previous: Paladin Advisory Services Adds New Loan Quality Expert Next: Experts Talk Property Management, Investment, and Servicing in Daily Dose, Featured, Government, Journal, News, Servicing Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Postcenter_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Demand Propels Home Prices Upward 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 Home / Daily Dose / Brian Montgomery on the Future of FHA Tagged with: Five Star Conference FSC 2018 Legal League 100 LL100 LL100 Summit The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily September 17, 2018 4,392 Views last_img read more

Engaging the American Homefront

Engaging the American Homefront Servicers Navigate the Post-Pandemic World 2 days ago Share Save Previous: The State of Refinance at Fannie and Freddie Next: Carrington Adds New Member to its Correspondent Lending Team Demand Propels Home Prices Upward 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post About Author: Donna Joseph Subscribe Home / Daily Dose / Engaging the American Homefront Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago <span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span> 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 Sign up for DS News Daily This video spotlight looks back at The 2018 Five Star Conference and Expo—an integral source of information, collaboration, and progression for the housing and mortgage industry. Heading into 2019, The Five Star Institute (FSI) looks forward to serving professionals across the mortgage servicing industry with more opportunities to expand their network and enhance their expertise.FSI also thanks all its numerous sponsors, exhibitors, companies, and professionals who participated in 2018 Five Star Conference and Expo and recognizes the active engagement of an entire industry that makes the Five Star possible. 2019 will be the Year of the Deal for 2019 as FSI ups its ante to maximize client connections and ROIs across specialized events, more exhibits, new academics with industry authorities, and much more.Aimed at celebrating industry achievements, honoring national heroes, and uniting an industry through the convergence of thousands to engage the American homefront, The 2019 Five Star Conference and Expo will be held between September 23-25, 2019 at Hyatt Regency in Dallas, Texas. Click through to learn more. February 15, 2019 3,390 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2019 Five Star Conference and Expo 2019-02-15 Donna Joseph in Daily Dose, Featured, Media Tagged with: 2019 Five Star Conference and Expo read more