Latest Look Offers Mixed Default Picture

first_img Tagged with: 90-day defaults Black Knight Financial Services Mortgage Monitor Foreclosure Starts Foreclosures  Print This Post Related Articles Subscribe January 11, 2016 1,876 Views About Author: Brian Honea 90-day defaults Black Knight Financial Services Mortgage Monitor Foreclosure Starts Foreclosures 2016-01-11 Brian Honea Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Latest Look Offers Mixed Default Picture Latest Look Offers Mixed Default Picture Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: The Week Ahead: Housing Policy and the State of the Union Address Next: A Whole New Ballgame: Auction.com Rebrands Itself as Ten-X Demand Propels Home Prices Upward 2 days ago While a seasonal decline in foreclosure starts is customary for this time of year, in November foreclosure starts fell to levels not seen in nearly a decade.Meanwhile, 90-plus day delinquencies experienced a seasonal increase in both October and November.Could there be a correlation between the two? Definitely, according to Black Knight Financial Services’ November 2015 Mortgage Monitor released Monday.In November, there were 31,000 first-time foreclosure starts, the lowest total for any one month since 2005, when Black Knight began tracking the data. In fact, November’s foreclosure starts total was 18 percent lower than the lowest monthly total reported in 2005, which was in January of that year (37,700). November’s total of repeat foreclosures (35,000) was the lowest total for any one month since April 2008. Overall, the 66,000 foreclosure starts were the lowest total in a month since April 2006, partially due to seasonality, since November contained two federal holidays (Thanksgiving and Veteran’s Day).Seasonality drove the 27 percent increase in 90-day defaults since March, but 90-day defaults were still down by 19 percent over the year in November. The combination of the seasonal increase in 90-day defaults and the sharp decline in foreclosure starts is contributing to the increase in 90-day delinquent inventory in October and November, according to Black Knight.”The rise in 90-day delinquencies we highlighted in this month’s Mortgage Monitor are strictly seasonal, matching the historical pattern very well,” said Ben Graboske, SVP of Black Knight Data and Analytics. “The drop in foreclosure starts is driven by the overall decline in 90-day delinquent inventory, which is down by over 25 percent from a year ago. Interestingly, foreclosure starts are actually taking place at a slightly higher rate as compared to the remaining 90-plus delinquent inventory today than they were a year ago. That said, we anticipate a continued decline in foreclosure starts as 90-day delinquent inventories continue their overall trend of improvement.”In judicial foreclosure states, 90-day default rates were 25 to 30 percent higher than in non-judicial foreclosure states for the six-month period ending in November, according to Black Knight.Click here to view the entire November 2015 Mortgage Monitor. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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 Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, Newslast_img read more

How HELOC May Effect Lending Moving Forward

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago September 8, 2016 1,484 Views Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Demand Propels Home Prices Upward 2 days ago Previous: International Document Services Acquires Encomia Next: OwnAmerica Initiates New Service for SFR Investors Tagged with: debt Delinquencies Experian HELOC in Daily Dose, Featured, News Experian recently released a white paper that highlights the latest U.S. lending trends related specifically to home equity lines of credit (HELOC), according to an announcement from the company. The announcement states that a rebound is underway that affects consumers and lenders positively, with consumers making payments on time and being responsible with their financial debts. Experian states that even with this positive outlook, though, consumers and lenders still should proceed somewhat cautiously, as $236 billion in HELOC debt originated between 2005 and 2008 is now nearing repayment.With a significant amount of HELOCs reaching the end of their borrowing period and approaching repayment, Experian states that they are now investigating how consumers are handling these payments as well as what those spikes and trends mean.”During the housing boom, home equity lending was heating up, but lenders pulled back significantly as home prices began to fall,” said Michele Raneri, vice president of analytics and new business development. “What we’re seeing now is that home values have recovered, but the end of draw is still a factor that needs to be considered when it comes to consumer and lending behavior.”The announcement says that this study focuses on how the HELOC trends might impact the lending industry moving forward. Experian reports that findings include $29 billion in HELOC debt originated between 2005 and 2008 has been paid down over the past 12 months, due to many of these lines of credit being in or approaching their repayment period. Likewise, as of Q4 2015, originations were up 111 percent, to $43.03 billion from $20.44 billion in the same quarter in 2010.The company also reports that delinquencies associated with HELOCs have declined all the way to near prerecession levels. As of Q4 2015, only a reported 0.49 percent of consumers with an open HELOC were 90 to 180 days past due. Additionally, consumers with a HELOC in repayment were more likely to both close and open other HELOCs in the next 12 months as well as open or close a mortgage in the next 12 months.The announcement also notes that the study worked to determine what could happen to these loans and other loan products and the findings showed that consumers coming to the end of draw on their HELOC are more likely to become delinquent as the increase in repayment burden could mean higher monthly payments. The report determined that this is not just on the HELOC, but also on other types of debt such as mortgage, auto loan, auto lease and bankcard trades.”Many consumers have dealt with repayment well, while others may experience payment shock,” continued Raneri. “The best path forward in this situation is for consumers to fully understand this potential payment stress, use resources available to them and to work closely with their lender to navigate these changes. If consumers have good credit and equity in their homes, they most likely can refinance their HELOC.” Related Articles The Best Markets For Residential Property Investors 2 days ago Share Savecenter_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 About Author: Kendall Baer The Week Ahead: Nearing the Forbearance Exit 2 days ago How HELOC May Effect Lending Moving Forward Home / Daily Dose / How HELOC May Effect Lending Moving Forward Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily debt Delinquencies Experian HELOC 2016-09-08 Kendall Baer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

NMSA Urges FCC to Clarify Definition of Robocalling

first_img in Daily Dose, Featured, News, Technology Home / Daily Dose / NMSA Urges FCC to Clarify Definition of Robocalling Data Provider Black Knight to Acquire Top of Mind 2 days ago August 1, 2017 1,671 Views 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: Serving the Underserved Next: Money to Recovering Cities About Author: Joey Pizzolato Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago NMSA Robocalls 2017-08-01 Joey Pizzolato Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The National Mortgage Servicing Association (NMSA) issued commentary on Monday to the Federal Communications Commission (FCC) on a Notice of Proposed Rule Making and Notice of Inquiry in regard to preventing illegal Robocalls.In its official statement, the NMSA applauds the FCC’s desire to prevent Robocalls made by servicers, but urges the commission to go one step further by clarifying the definition. Currently, the FCC defines Robocalls by referring to a previously proposed description set forward by the “Robocall Strike Force,” which was established at the request of former Chairman Wheeler in 2016:“…an ‘illegal robocall’ is one that violates the requirements of the Telephone Consumer Protection Act of 1991, the related FCC regulations implementing the Act, or the Telemarketing Sales Rule, as well as any call made for the purpose of defrauding the customer, as prohibited under a variety of federal and state laws and regulations…”It is the position of the NMSA that ambiguity in the language and lack of defining terminology leaves open the possibility of inconsistency. The organization further urges the FCC to adopt language that clearly defines a Robocall as:“Any telephone call to a telephone number using and artificial voice or prerecorded message where a live person is not on the line and available to communicate with the intended recipient of the call at the time of connection to the telephone number called.”Currently, mortgage servicers are not considered exempt from the laws outlined in The Telephone Consumer Protection Act (TCPA), despite efforts to petition the FCC otherwise back in June of 2016. The FCC ruled that the importance of dissemination of information about delinquencies to consumers did not warrant setting aside privacy concerns. Further, because consumers could revoke consent so easily, mortgage servicers could be at risk for hefty fines for each call. A standard definition of a Robocall would be in the interest of both the industry and the consumer.“We applaud the FCC’s active engagement in protecting consumers,” said Ed Delgado, President and CEO of the Five Star Institute. “It is this shared interest that drives NMSA to continue to work towards shaping the American housing industry for the benefit of homeowners, and while there is more work to be done, this continued dialogue between concerned members of the industry and regulatory institutions is a step in the right direction.”To view the letter, click here. Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: NMSA Robocalls NMSA Urges FCC to Clarify Definition of Robocalling Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

Meritage, Operation Homefront Present Veteran Mortgage-Free Home

first_img in Featured, Headlines, Journal Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / Meritage, Operation Homefront Present Veteran Mortgage-Free Home  Print This Post November 19, 2017 1,764 Views Previous: Law Firm’s New Ownership Shatters Florida Legal Glass Ceiling Next: Industry Pros Shifting Focus Toward REO Restoration The Best Markets For Residential Property Investors 2 days ago Meritage, Operation Homefront Present Veteran Mortgage-Free Home Demand Propels Home Prices Upward 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] Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Tagged with: HOUSING meritage mortgage Operation Homefront Veteranscenter_img The Best Markets For Residential Property Investors 2 days ago Share Save 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 Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago HOUSING meritage mortgage Operation Homefront Veterans 2017-11-19 Nicole Casperson Operation Homefront and Meritage Homes Corporation recently presented a Dallas-area veteran and his family with a brand-new energy-efficient—and mortgage free—home.U.S. Army Specialist William Robbin received the keys to his new home at a ceremony in Northlake, Texas.This is the first home that the Robbins will own as a family, and it will provide William, his wife, three children, and service dog with a comfortable place to live for many years to come.”We are thrilled to be partnered with Meritage and, for the eleventh time with this amazing home builder, be able to award a deserving military family a new mortgage-free home,” said Brig. Gen. (ret.) John I. Pray, Jr., President and CEO of Operation Homefront. “The entire Meritage team shares our unwavering commitment to supporting our military families and together, we are giving this very special group of our fellow Americans the opportunity to thrive, not simply struggle to get by, in the communities they have worked so hard to protect.”Robbin enlisted in the Army in 2007 and served as a cavalry scout. By 2008, he was patrolling the streets of Baghdad and carried out multiple missions throughout his service in Iraq. Robbin was honorably discharged in 2012 after suffering from traumatic brain injury and daily seizures.“It’s such a blessing and still feels like a dream every day,” he said. “Thank you, Operation Homefront and Meritage Homes, for everything you do for veterans.”Since its inception in 2012, Operation Homefront has worked with home builders and lenders to place nearly 600 military veterans and their families in mortgage-free homes. This is the eleventh new home Meritage Homes has built and donated to veterans through the Homes on the Homefront program.“Giving the home to a Dallas-area veteran is a point of pride for Meritage Homes employees,” said Division President Stephanie MacLean. “Our continued partnership with Operation Homefront allows us to help military families in need and give them a safe place to call home. We want to thank the Robbin family for their sacrifice and are excited to hand them the keys to their brand-new home.” Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Nicole Casperson Subscribelast_img read more

Ripple Effect

first_img Related Articles Editor’s note: This story was originally featured in the March issue of DSNews, out now.When the Tax Cuts and Jobs Act went into effect, many in the industry began to speculate what impact this would have on home prices, sales, and business confidence. While the industry is already feeling the change, the tax code isn’t the complete game changer some have claimed it is.National home prices are still expected to grow–just at a slower rate. The impact varies substantially by region and sub-market, with low-cost markets getting a minor boost and upper-middle class and high-tax markets being hit on multiple fronts. The changes, particularly the limits on deductions, make renting relatively more attractive for high-income households. So it follows that the future homeownership rate will be slightly lower relative to what it would have been under the old rules.Home-price growth is likely to continue because of strong underlying housing-market fundamentals and a strengthening world economy that is finally firing on all cylinders. Fundamental factors such as strong job growth, low interest rates, and a shortage of homes for sale outweigh the weaker incentives for homeownership in the new tax code in the vast majority of areas.While many economists think a strong economy is a wrong point in the business cycle for a tax cut, the timing works well for the housing market. Since rapid national home-price growth over the past five years (5 to 7 percent a year) has far outpaced the 2 to 3 percent annual income growth, some cooling of the housing market isn’t as bad as it sounds. It might even help prevent housing markets from overheating.A Closer Look at the Pros and ConsThe most  important impacts of the new tax law on housing include the following:PROSIncreased business confidence (which also was helped by a push for regulatory relief). Higher confidence supports continued strong hiring and increased capital spending, which has been relatively weak over the past decade. However, the incremental economic growth attributable to the tax bill will be modest. Estimates of the total increase in Gross Domestic Product over the next 10 years are typically under 1 percent.Lower taxes for most people could stimulate demand, at least in lower-cost markets where fewer people itemize their taxes. Also helped is the tiny segment at the other extreme: The ultra-high-end luxury housing segment may benefit due to lower taxes for those who can structure their income into pass-through companies.CONSInterest rates will be higher, all else being equal. That is because the U.S. Treasury will increase borrowing by $1.5 trillion over 10 years. Borrowing will be even greater if individual tax cuts are made permanent or if there’s a recession. Recently, we’ve seen rates increase about a quarter of a percentage point.Limitations on the deductibility of state, local and property taxes (they went from being unlimited to maxing out at $10,000) mean higher taxes for many in the upper middle class. The result will be a permanent dampening effect in high-cost areas relative to the previous tax rules.Fewer people will itemize, tipping the buy vs. rent calculation in favor of renting for some potential homebuyers. That is because there is no value in the mortgage interest deduction for people who don’t itemize (recall that taxpayers can either take the standard deduction, which is now higher, or itemize, but not both). The drop in the number of people who itemize their taxes is dramatic—one estimate is a decline from around 30 percent of tax filers to approximately 10 percent.Higher-income households are more likely to itemize their taxes and thus are more likely to be hurt by the changes. More than 50 percent of tax returns for households with adjusted gross income between $75,000 and $100,000 include itemized deductions. This statistic varies substantially by state, with Maryland having the highest share at 76 percent, followed by Oregon, Utah, Connecticut, and New York.Mortgage interest deductions are now capped at $750,000 on new loans, down from $1 million. However, the impact is minor compared to the impact of the limits on state and local taxes, since fewer loans are affected and because any loan amount is still deductible up to the new limit. Loans for homes purchased before December 15, 2017, were grandfathered in at the higher limit.Home equity loans are no longer tax-deductible unless they are used to purchase or renovate a home. Previously, borrowers could deduct the interest on home equity loans up to $100,000, depending on their filing status. The home equity deduction was eliminated for both new and existing borrowers, so all home equity loans not used for a purchase or renovation became relatively more expensive on January 1, 2018.More individuals will choose to pay down their mortgages or buy with cash—if they can. This is because the effective after-tax mortgage interest rate will be substantially higher for those who switch from itemizing to using the standard deduction, making borrowing more expensive.Construction of new affordable housing units is likely to drop. It is primarily funded by federal corporate tax offsets, which are now far less valuable because corporate tax rates have decreased from 35 to 21 percent.Because the rules on capital gains (allowing up to $500,000 in tax-free capital gains on a primary residence) did not change, the tax code still favors homeownership, just not as strongly as before.The Regional HitHigh-tax areas in particular face a new, permanent drag on their housing markets that will slow price growth or perhaps even lead to minor declines in a few areas. Most affected are New York, New Jersey, Connecticut, California, and Maryland. Most at risk of falling home prices are Connecticut and New Jersey, where home-price and population growth are already weak and taxes on the upper middle class are substantial.Several different studies estimate that home prices in a few years will be slightly lower compared to what they would have been without the tax changes. Researchers at JPMorgan Chase & Co. put the national impact on home prices at around 1 percent lower than they would have been, and up to 3 percent in some states. Moody’s Analytics estimates national home prices will be around 3 percent lower relative to where they would have been in two years’ time, and up to 10 percent lower around New York City and some parts of Chicago. On the more pessimistic side, the National Association of Realtors (NAR) estimated U.S home prices will only grow 1.9 percent this year (down from 2017’s 5.8 percent median home price growth) because of the tax changes. NAR estimated that high-cost, higher-tax areas will see price declines as a result of the legislation’s new restrictions on mortgage interest and state and local taxes, led by New Jersey (-6.2 percent), the District of Columbia (-4.8 percent), and New York (-4.8 percent). While such declines are possible, we believe the strength of the current housing market will prevent that large of an outright price decline.In addition, the rent vs. buy calculation changes according to income. For example, a family earning $50,000 a year pays less in taxes and probably doesn’t itemize their taxes, so buying is slightly more favorable. However, for a family earning $150,000 a year, the rent level that would tip them in favor of buying is now 25 percent higher.The bottom line is that the benefits of homeownership in comparison to renting are now less favorable for housing, at least for many upper-middle-class households. The changes in the tax law are particularly bad for higher-cost areas because of the larger loss of allowable deductions. It would not be surprising to see increased demand for smaller, cheaper housing and lower demand for larger, more expensive housing. This is likely to result in a lower homeownership rate over time relative to what it would have been.Nearly every housing market is still likely to experience positive home price growth over the next two years, but some high-tax areas, such as Connecticut, New Jersey, New York City, and Chicago may see minor price declines because of the tax changes. We believe strong economic and housing market conditions, such as extremely low unemployment rates and low-interest rates, more than offset the negative tax changes.Ralph DeFranco is Global Chief Economist of the Mortgage Group Arch Capital Services Inc., White Plains, New York. He leads the company’s efforts to forecast regional home prices and develop predictive economic models. He is also the author of “The Housing and Mortgage Market Review,” a quarterly report on the state of the nation’s housing sector based on the findings of the Arch MI Risk Index. Ripple Effect Servicers Navigate the Post-Pandemic World 2 days ago March 27, 2018 3,998 Views Subscribe Borrowers Growth Home Prices Homebuyers HOUSING Lenders loans mortgage Mortgage Interest Tax Cuts taxes 2018-03-27 Radhika Ojha in Daily Dose, Featured, Print Features Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Ralph DeFranco  Print This Post Home / Daily Dose / Ripple Effect Share Savecenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago RALPH DEFRANCO is Global Chief Economist of the Mortgage Group Arch Capital Services Inc., White Plains, New York. He leads the company’s efforts to forecast regional home prices and develop predictive economic models. He is also the author of “The Housing and Mortgage Market Review,” a quarterly report on the state of the nation’s housing sector based on the findings of the Arch MI Risk Index. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Tagged with: Borrowers Growth Home Prices Homebuyers HOUSING Lenders loans mortgage Mortgage Interest Tax Cuts taxes The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Hidden Costs of Selling a Home Next: The Four U.S. Cities Where Paychecks are Stretching Furthestlast_img read more

Innovating Title Operations for the Future

first_imgHome / Daily Dose / Innovating Title Operations for the Future Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Share 1Save The Best Markets For Residential Property Investors 2 days ago With a career spanning three decades in the national title and closing field, Jill Cadwell has honed her expertise in various executive positions at leading title and closing firms. Cadwell is a staunch supporter of technological innovation and an enthusiast of the innovative work culture at ValuAmerica and its parent company, Radian. While always maintaining a customer focus, Cadwell holds a comprehensive understanding of the regulatory environment. Cadwell took on the role of SVP of Title Operations at ValuAmerica this February and is charged with expanding the company’s title services operations. Previously, she held executive positions at PNC Network, ServiceLink, LSI TitleAgency, and The Talon Group.Can you tell me what a typical day looks like at ValuAmerica?I started with Radian’s title agency, ValuAmerica, in February 2018 and have been focused on our customers’ needs while integrating our title offerings. In March 2018, Radian acquired Entitle Direct, a title insurance and settlement services company. This acquisition is consistent with Radian’s growth and diversification strategy, as well as its focus on the core product offerings of its mortgage and real estate services business. Entitle Direct, with its 40-state title insurance licenses, complements the geographic reach of ValuAmerica.I’m working closely with all of our teams to solidify our title offerings while making sure that our customers continue to be well taken care of during this transition. I’m constantly looking at ways we can use technology to make our incredible staff even more efficient and effective, and ways to continue delivering expert services to our customers and their consumers.What sets ValuAmerica’s work culture apart from other organizations?At Radian, our culture is built around a set of core organizational values that define who we are as an enterprise. The fantastic, enterprise-wide culture was one of the many aspects that led me to join the company. Some of our company’s values, for example, are “Innovate for the Future” and “Our People are the Difference.” These values truly are supported among our teams, are important to management, and help drive the culture that drew me to the company in the first place. We all come together as a team to make sure we serve our customers even better today than we did yesterday.Not all companies have the support or willingness to evolve continuously. We’re a large and well-established company, while still remaining nimble with our approach. We are constantly improving what we currently do, while keeping an eye out for what’s coming next. We embrace change and are afforded the opportunity to recruit the best people and provide them with the right technology and flexibility to provide unparalleled services.What is the most rewarding part of your role at ValuAmerica?The most rewarding part of working here is working with such amazing people. When it comes to my teams, because we have such a high level of trust and confidence, we’re able to grow and approach things in creative and innovative ways. I love that I have the ability to provide the people I work with flexibility so that they can do what they do best—provide best-in-class service and products to our customers.I’m honored to be able to collaborate and create better solutions for our customers because helping them is a huge part of what makes my job so rewarding. Exceeding the expectations of our customers and consumers with such an important transaction in their lives makes working here one of the best experiences I’ve had in my 30-year career.In your opinion, what are the most significant challenges default-servicing professionals face today?I think one of the main challenges facing default servicing is a lack of standardization. Not having unified communication creates silos that slow down the process, duplicate efforts, and ultimately increase costs. Now is the perfect time to start looking at what’s known as the “cradle-to-grave” philosophy. This philosophy refers to unification and/or re-use of mortgage title-related products in aspects of the foreclosure and REO departments to help reduce costs and increase efficiency. For example, if a property is moved into REO for handling post-foreclosure sale, then the foreclosure commitment could be converted to an Owner’s Title Policy (OTP) that could be procured very quickly and cheaply using the same title commitment that was ordered at the initiation of foreclosure.As a Radian company, ValuAmerica is part of a trusted network of service providers that span the default continuum. Further streamlining those services will allow us to provide the most optimal experience for customers.How are new tech tools helping to automate workflow and smooth the compliance process?Technology is a game changer for our industry. I’ve always embraced that head-on because I believe technology allows us to disrupt markets and build operational teams and processes into a cohesive workforce. Staying on top of the latest technology is the key to providing best–in-class, up-to-date, immediate services.Homebuyers want to know their investment will be protected and their experience will be seamless. With services like e-closing and e-notaries, the compliance process is streamlined and more secure. On the back end, technology enables better workflow processes, and we want to use that to benefit our customers and their consumers. The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Magazine, Print Features Previous: Lenders One Partners with DocMagic for eClosing Next: The Week Ahead: A Look at Delinquency Rates 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. August 12, 2018 3,056 Views  Print This Postcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Innovating Title Operations for the Future Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Jill Caldwell Print Features Radian ValuAmerica 2018-08-12 Radhika Ojha Tagged with: Jill Caldwell Print Features Radian ValuAmericalast_img read more

The Industry Pulse: Updates on Fannie Mae, the CFPB, and More

first_imgClick through to learn more about crucial hires, changes to key committees, and more in this weekly update.Fannie Mae announced that it has appointed Stergios “Terry” Theologides as EVP, General Counsel, and Corporate Secretary effective March 28, 2019. Theologides most recently served as CoreLogic, Inc.’s SVP, General Counsel, and Secretary.“Terry joins the Fannie Mae leadership team with an impressive background of legal and management experience, combined with a broad and deep understanding of the mortgage, real estate, and financial services sectors,” said Hugh R. Frater, Interim CEO, Fannie Mae. “Terry is a thoughtful leader with a proven track record as a strong General Counsel with extensive experience managing high-performing, client-focused teams. He will play an important leadership role in helping us achieve our strategic priorities as we continue our work with customers and partners to increase the supply of affordable housing and drive innovation in the mortgage industry.” Related Articles March 28, 2019 1,585 Views About Author: Seth Welborn  Print This Post Sign up for DS News Daily ________________________________________________________________________________The Consumer Financial Protection Bureau (CFPB) has announced enhancements to its advisory committee charters.The CFPB’s advisory committee program includes the Consumer Advisory Board (CAB), Academic Research Council (ARC), Community Bank Advisory Council (CBAC), and Credit Union Advisory Council (CUAC).  These committees will expand their focus to broad policy matters and increase the frequency of in-person meetings from two times a year to three times a year effective fiscal year 2020. CFPB said that the CAB, CBAC, and CUAC will continue their joint public meetings. The ARC will meet separately, in-person and twice a year. Additionally, the ARC is being elevated to a Director-level advisory committee.The membership terms for the committees will be extended from a one-year term to two-year terms, and the terms will be staggered. The one-year term of all existing members expires on September 2019. A one-year term extension will be provided to half of the current members in order to achieve the staggered terms and ensure continuity. In addition to a Chair, each committee will be assigned a Vice-Chair. Both the Chair and the Vice-Chair will serve a one-year term in their respective positions, with the Vice-Chair assuming the Chair the following year.These changes were announced after CFPB Director Kathleen L. Kraninger’s engagement with current and former advisory committee members during her three-month listening tour.“I’ve seen firsthand how the Bureau benefits from the valuable input provided by committee members. I have also seen how the joint committee meeting is resulting in members sharpening their ideas by engaging in a thorough dialogue,” Kraninger said. “These enhancements demonstrate my commitment to ensuring that the Bureau’s advisory committees are helping to improve our work on behalf of consumers.”________________________________________________________________________________Debra Hess, former CFO of NorthStar Asset Management Group and NorthStar Realty Finance Corp., and David H. Stevens, former president and CEO of the Mortgage Bankers Association (MBA), have joined Radian’s Board of Directors.”Radian is pleased to have Debra and Dave join our Board of Directors,” said Radian’s Chairman Herb Wender. “Their leadership, strategic insight and depth of experience in the mortgage and real estate industries and government affairs will help strengthen Radian’s position as a market-leading residential mortgage and real estate services enterprise. The addition of two highly qualified directors with skills that complement our strategic focus reinforces our commitment to strong corporate governance and enhancing stockholder value.” Hess and Stevens were nominated for election to the board following a comprehensive search process conducted by the board’s Governance Committee.”Radian has a strong, independent Board of Directors composed of proven leaders in mortgage banking, real estate, government, business operations, and capital and secondary markets,” said Radian’s Chief Executive Officer Rick Thornberry. “The addition of Debra and Dave will further strengthen our Board and provide us with valuable insight and guidance to execute our strategic plan for strong growth, value creation and stockholder returns.”________________________________________________________________________________IEM—a tech-enabled global homeland security and disaster management consulting firm based out of North Carolina—announced the addition of Pamela Hughes Patenaude as Senior Community Liaison, where she will serve as a senior advisor for the company’s housing and disaster recovery projects. Patenaude is a housing executive and public policy expert with over 35 years’ experience serving in government and non-profit management, including at the executive management level. Most recently, Patenaude served as Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD), where she managed the day-to-day operations of the cabinet-level agency, including oversight of the Department’s $52 billion budget and 7,000 employees nationwide. Patenaude also served as Chair of HUD’s Disaster Management Group, overseeing $37 billion in disaster recovery funding.As IEM’s Senior Community Liaison, Patenaude will provide housing policy and long-term disaster recovery expertise to help execute IEM’s disaster recovery housing projects quickly and efficiently.”As disasters and emergencies evolve, our response and recovery to these events must evolve as well. We know that a one-size-fits-all solution does not work and that collaborative relationships must be forged to ensure that no one is left behind,” said Madhu Beriwal, President and CEO of IEM. “Pam has the diverse and well-rounded expertise to help us craft recovery and housing solutions that work best for each individual community. This, paired with her intimate understanding of complex policies that guide our work, will help communities rebuild safer and stronger.””I look forward to serving in this important advisory capacity role and to help facilitate long-term recovery efforts across the nation, including communities still recovering from recent disasters,” Patenaude said. 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. Previous: Three Indicators Impacting Housing Next: Global DMS Launches New Appraisal System in Daily Dose, Featured Demand Propels Home Prices Upward 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: CFPB Fannie Mae IEM industry pulse Radian 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 Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago CFPB Fannie Mae IEM industry pulse Radian 2019-03-28 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Industry Pulse: Updates on Fannie Mae, the CFPB, and More Home / Daily Dose / The Industry Pulse: Updates on Fannie Mae, the CFPB, and More The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

The Industry Pulse: Updates on LoanLogics, WFG, and More

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 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 August 29, 2019 1,137 Views Jacksonville, Florida-headquartered technology services provider, Black Knight Inc. has announced that Gateway First Bank, one of the 10 largest banks by assets in Oklahoma now uses Black Knight’s Ernst Fee Service.Black Knight said that this enterprise solution provides lenders and settlement agents with accurate recording fees and taxes to assist a lender with its TRID compliance efforts. Gateway First Bank will use the fee and monitoring service to help mitigate risk associated with fee cures and enhance the consumer experience.“We needed a trusted provider that could automate our fee and closing cost data to help us more accurately disclose fees to customers,” said Whitney Barth, VP, Product Development Management for Gateway First Bank. “Fees frequently change during the loan process, and Black Knight’s Ernst Fee Service lets us provide our customers with accurate fees based on the closing date and automatically update those fees within our loan origination system.” in Daily Dose, Featured, News, Technology Tagged with: industry pulse Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily 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. From new resources and tools to key hires and promotions, get the latest industry buzz in this update.LoanLogics, a provider in loan-quality technology for mortgage manufacturing and loan acquisition, announced it is the technology provider behind Freddie Mac’s new tool, Freddie Automated Servicing Transfer (FAST), which streamlines the transfer of mortgage servicing rights for Freddie Mac’s Cash-Released XChange.LoanLogics will also provide technology enhancements to expand the capabilities of FAST in support of Freddie Mac’s Co-Issue XChange.Launched in October 2018, FAST is an online tool that enables the physical transfer of mortgage servicing rights by extracting information from imaged documents. Leveraging drag-and-drop functionality, FAST standardizes and simplifies the exchange of documents and data, freeing lenders from managing servicer-specific requirements and processes, while also eliminating multiple, time-consuming manual steps. FAST also gives mortgage servicers a more efficient method to receive documents and data from a variety of lenders, a process that has traditionally been one of the most challenging aspects of servicing transfers.The FAST tool leverages LoanLogics IDEA (Intelligent Data Extraction and Automation) technology, which uses machine learning and other capabilities to transform digital images and scanned documents into verified and validated information for loan boarding. IDEA can be configured to support any servicer’s defined naming conventions, stacking orders and required document sets. It includes data extraction for required information found only in documents and leverages machine learning for the accurate versioning and indexing of all documents.__________________________________________________________________________WFG National Title Insurance Company (WFG), a Portland-based provider of title insurance and real estate settlement services, announced that Gregg W. Christensen has been appointed Senior Business Development Officer for the company’s New York City-based national commercial services division.Christensen comes to WFG with more than 25 years of commercial real estate and title insurance expertise. Prior to joining WFG, he worked with the national commercial services team of another large national title insurer. Before that, he served as publisher and senior vice president of sales for ALM Real Estate Media Group, where he was one of the company’s top producers.“We’re thrilled to have Gregg on board to help us continue our national expansion here in the Northeast,” said Len Franco, WFG vice president and director of commercial services for the region. “His tremendous success in building relationships and his intense focus on the client relationship throughout all phases of the transaction are a huge benefit to both WFG and our clients. It’s an exciting time of growth for WFG, and we see this as a major step toward our goals.”__________________________________________________________________________  Print This Post Share Savecenter_img Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Industry Pulse: Updates on LoanLogics, WFG, and More Previous: Are We Talking Ourselves Into a Recession? Next: Tennessee Mortgage Company Raises Funds for Vets Home / Daily Dose / The Industry Pulse: Updates on LoanLogics, WFG, and More Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago industry pulse 2019-08-29 Seth Welborn Subscribelast_img read more

How Will the Market Respond to Expiring Forbearance Plans?

first_img How Will the Market Respond to Expiring Forbearance Plans?  Print This Post Data Provider Black Knight to Acquire Top of Mind 1 day ago 5 days ago 440 Views Demand Propels Home Prices Upward 1 day ago Sign up for DS News Daily Home / Daily Dose / How Will the Market Respond to Expiring Forbearance Plans? Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago 2021-05-25 Christina Hughes Babb About Author: Christina Hughes Babb Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Demand Propels Home Prices Upward 1 day ago Previous: Forbearances Fall With Job Market in Recovery Mode Next: Pandemic Savings Helped Some Secure Homeownership in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 1 day ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago In his On the Hill podcast, SitusAMC’s Head of Industry Relations Tim Rood speaks with titans of industry and other professionals who fully understand the mortgage finance industry.In the latest episode Rood speaks with Mark Fleming, Chief Economist, First American Financial Corporation.They discuss the COVID-19 forbearance programs and foreclosure moratoriums, President Biden’s emphasis on increasing homeownership for minorities and first-time buyers, and the outlook for the hot U.S. housing market.Most homeowners in forbearance (one in 10, according to Rood) have home equity, and many might choose to sell if not for the moratoria, the host points out, and Rood and Fleming dive into how this could have a big impact on the already-wanting housing supply as well as the very integrity of the mortgage finance system.Play the entire podcast, or visit the podcast page at podcasts.apple.com. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Donegal County Council unaware of bogus caller claims

first_img Facebook Google+ Facebook Twitter Twitter By News Highland – July 25, 2012 Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Donegal County Council says it has received no reports of people calling to houses in Donegal seeking to collect the household charge.It’s been alleged by the Can’t Pay Won’t Pay campaign that a number of homes in the west of the county have been called to by people claiming to be from the council. The authority’s Director of Finance Garry Martin says they’ve received no such reports, and is asking anyone who is approached to contact the council and the gardai.Garry Martin says while calling to homes may be an option in the future, it is not being done at the moment………….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/xxgmart1pm.mp3[/podcast]The Can’t Pay Won’t Pay campaign is urging people who haven’t paid the charge to ignore letters if they receive them.Speaking ahead of a protest in Glenties where the Envioronment Minister Phil Hogan is due to address the MacGill Summer School this afternoon, Spokesperson Michael Mc Giolla Easpaig said he believes people in Donegal will stand firm……………….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/cpwpclip.mp3[/podcast] Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR Google+center_img Pinterest Guidelines for reopening of hospitality sector published Previous articleCarrigans man hits out at the agency that collects the Household ChargeNext articleJudge refuses to allow Galliagh man to return to home after riots News Highland WhatsApp News Calls for maternity restrictions to be lifted at LUH WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Donegal County Council unaware of bogus caller claims Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more