first_img in Featured, Media, Webcasts Share Save DS News Webcast: Tuesday 2/18/2014 February 18, 2014 462 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: New Analysis Seeks to Reduce Foreclosure Timelines Next: Valuation Vision Welcomes New Managing New Director Sign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Wells Fargo is looking to re-enter the subprime mortgage market by lowering its standards of acceptable credit scores for borrowers. According to a report by Reuters, the bank is interested in customers with credit scores as low as 600 that meet strict criteria and have reasonable explanations for low scores. Wells Fargo is only looking to lend to borrowers with weaker credit scores if the Federal Housing Administration backs the loans.Rising mortgage rates have incentivized lenders to target more borrowers. U.S. lending is expected to drop 36% in 2014 according to the Mortgage Bankers Association, due in large part to a decline in refinancings. Subprime borrowers accounted for only 0.3% of new home loans in October 2013, compared to the February 2004 average of 29%.The St. Louis dispatch reports that Bank of America cut 280 workers from the mortgage operations department of the St. Charles, Missouri office. The staff reductions continued from earlier in the week, when 450 workers from the bank’s West coast offices were let go. A company spokeswoman attributed the lay offs to a shrinking volume of delinquent mortgage loans, noting that delinquent loans have dropped by a third, requiring less staff. Demand Propels Home Prices Upward 2 days agocenter_img Home / Featured / DS News Webcast: Tuesday 2/18/2014 Demand Propels Home Prices Upward 2 days ago Related Articles About Author: DSNews Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 2014-02-18 DSNews Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

first_imgSign up for DS News Daily Share Save Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The U.S. Securities and Exchange Commission (SEC) has approved a settlement with Ocwen Financial Corp. for $2 million to resolve claims that the mortgage servicer misstated its financial results, according to an announcement from the SEC.An investigation by the SEC revealed that Ocwen misstated its income for the last three quarters of 2013 and the first quarter of 2014 as a result of the servicer’s use of a flawed, undisclosed methodology to determine the value of certain complex mortgage assets. According to the SEC, Ocwen inaccurately disclosed to investors that it independently valued the mortgage assets in question under U.S. Generally Accepted Accounting Principles (GAAP) when in fact it was using valuations provided by a related party to which it sold certain mortgage servicing rights that were a liability. The related party’s valuations deviated from the fair value measures, and Ocwen’s auditing team failed to review the methodology with company management or the outside auditor, according to the SEC.“Ocwen’s filings led investors to believe the company was valuing complex mortgage assets using GAAP rather than relying on a related company’s accounting methodology that later proved to be flawed,” said Michael J. Osnato, Chief of the SEC Enforcement Division’s Complex Financial Instruments Unit. “Ocwen released inaccurate financial statements because its internal controls were inadequate and its audit committee failed to scrutinize whether the methodology was an appropriate way to measure fair value.”The SEC also found that Ocwen’s internal controls failed to prevent conflicts of interest involving the servicer’s since-departed chairman and founder, William Erbey. Ocwen disclosed to investors to that Erbey was required to recuse himself on transactions involving companies where he also served in leadership positions, when in fact Ocwen had no written policies or procedures for recusal; hence, Erbey approved a $75 million bridge loan to company for which he also served as chairman of the board.Erbey was forced to step down as chairman and CEO of Ocwen in January 2015 after 30 years with the company he founded. His departure was part of a $150 million settlement Ocwen reached with the New York Department of Financial Services in December 2014. A two-year investigation by the New York DFS revealed that Ocwen had sent backdated foreclosure notices to thousands of borrowers.“We are pleased with the resolution of this U.S. Securities and Exchange Commission’s (SEC) investigation,” Ocwen spokesman John Lovallo said. “As previously disclosed in our October 2015 SEC 10-Q filing, funds have already been reserved to address this settlement. Ocwen remains committed to full compliance with all legal and regulatory requirements and will continue to fully cooperate with regulators on any matter brought to its attention.” Financial Results Ocwen SEC Securities and Exchange Commission 2016-01-20 Brian Honea Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Tagged with: Financial Results Ocwen SEC Securities and Exchange Commission Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / SEC Approves Ocwen Settlement Over Financial Misstatements The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago SEC Approves Ocwen Settlement Over Financial Misstatements Related Articles Demand Propels Home Prices Upward 2 days ago  Print This Post in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea January 20, 2016 932 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Majority of Americans Unconcerned Over Fed’s Rate Increase Next: DS News Webcast: Thursday 1/21/2016last_img read more

first_img  Print This Post December 14, 2017 2,014 Views Then vs. Now: Housing Markets That Remain Below Price Peaks The Best Markets For Residential Property Investors 2 days ago Appreciation Homebuyers Housing Market metro areas mortgage U.S. Housing Market 2017-12-14 Staff Writer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Despite continued rapid home appreciation across the U.S., nearly a quarter of metro markets have not fully recovered from their price peaks before the housing market crash a decade ago, including a few that are still off by more than 20 percent.According to Nationwide’s latest Health of Housing Markets Report, homeowners in these metro markets are more likely to be underwater in their mortgages. The report noted the national share of mortgages that have negative equity is near 5 percent, and that number doubles for homeowners who live in markets with prices still below their prior peaks.Las Vegas led the 10 major markets that remain below their prior price peaks, followed by Bakersfield and Fresno in California; Tucson, Arizona; Orlando-Kissimmee in Florida; Camden, New Jersey; Fort Lauderdale, Florida; Riverside-San Bernardino, California; Phoenix-Mesa, Arizona; and Naples, Florida.The report also noted that sustained rapid home appreciation is weakening the near-term outlook for the U.S. housing market.”The biggest concern with regard to the housing market in 2017, especially as the year ends, is that persistent price gains are reducing affordability,” David Berson, SVP and Chief Economist at Nationwide, said.The report noted that house price gains continued to run at a pace well above the long-term average as historically few homes on the market created heightened competition among homebuyers. However, job gains, rising incomes, and a healthy mortgage market still supported a positive–although slightly less optimistic than last quarter–outlook for the U.S. housing market.According to the report, the outlook for the vast majority of regional housing markets across the U.S. remains upbeat, with more than 80 percent of metro areas earning a positive ranking. Moreover, markets with strong ties to the oil and gas industries are among the most improved in 2017 due to solid job growth and rising housing demand.”The housing market is still moving forward thanks to solid job gains, but it’s showing signs of strain. We’re watching to see if household formations, income, job, and mortgage trends can sustain the market’s health,” Berson said.To read the complete report click here. Demand Propels Home Prices Upward 2 days ago Share Save Tagged with: Appreciation Homebuyers Housing Market metro areas mortgage U.S. Housing Market Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articlescenter_img Home / Daily Dose / Then vs. Now: Housing Markets That Remain Below Price Peaks 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: How Could Blockchain Reshape the Industry? Next: New Year Brings New Homeowner Bill of Rights Requirements The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Magazine, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more

first_img Related Articles March 1, 2018 2,212 Views The Housing Market’s Long March to Recovery The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily About Author: David Wharton Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Industry Pulse: Updates on Black Knight, Old Republic, and More … Next: Puerto Rico Receives Mixed Messages From Treasury, FHA 2008 Financial Crisis CoreLogic Great Recession Home Price Index Home Prices House Prices Housing Bubble Recession 2018-03-01 David Wharton Subscribe Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines, Journal, Market Studies, News Home / Daily Dose / The Housing Market’s Long March to Recovery Data Provider Black Knight to Acquire Top of Mind 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 Share Save  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: 2008 Financial Crisis CoreLogic Great Recession Home Price Index Home Prices House Prices Housing Bubble Recession Demand Propels Home Prices Upward 2 days ago Between December 2007 and June 2009, U.S. households lost over $16 trillion in net worth. That’s one of the stark figures that opens CoreLogic’s new special report entitled “Evaluating the Housing Market Since the Great Recession.” The report tracks the timeline of events that led up to the housing bubble, the Great Recession, and the decade-long recovery that still continues to this day. How far has that recovery come? “After falling 33 percent during the Recession, housing prices have returned to peak levels, growing 51 percent since hitting the bottom of the market,” states the report. “The average house price is now 1 percent higher than it was at the peak in 2006, and the average annual equity gain was $14,888 in the third quarter of 2017.”However, that recovery has not unfolded equally in all corners of the nation. “With the availability of affordable housing on the decline, an out-of-balance housing supply and demand ecosystem, and geographic shifts in the labor market, home price trends across the country tell a colorful tale of state-to-state economic health,” says Molly Boesel, Principal Economist at CoreLogic.According to CoreLogic’s national Home Price Index, Nevada experienced the largest drop in home prices during the Recession, plummeting 60 percent. In spite of having experienced a 93 percent increase to reach the current level, Nevada home prices are still 23 percent below the peak they reached prior to the Recession. Moreover, 9 percent of mortgaged properties in Nevada are currently underwater. Other states that experienced the largest drop in home prices during the Recession include Arizona, Michigan, California, and Idaho.California has also rebounded impressively, with home prices soaring 78 percent over their lowest point, but like many regions, this has caused problems with affordability. California is also among several Western states that have also shown strong appreciation over the past five years, with Washington home prices up 57 percent during that period and Oregon showing a 54 percent increase.According to CoreLogic’s report, during November 2006, 67 percent of the most populated metro areas in the U.S. were overvalued, with 32 percent considered “at value” and 1 percent undervalued. As of December 2017, only 33 percent of the most populated U.S. metro areas are considered overvalued, 35 percent are “at value,” and 32 percent are undervalued.Sam Khater, Deputy Chief Economist at CoreLogic, says, “Since the economic expansion began in 2011, the recovery in home prices has been inconsistent across metro areas, with the CBSAs falling into three broad categories. Growing metro areas, like Denver and Seattle, are experiencing strong home price gains, relative to their respective former peaks, reflecting their strong underlying economies. Boom and bust metro areas, like Las Vegas, have experienced large home price declines and strong recoveries, yet home prices are still below their former peaks. Lastly, other metro areas, like Chicago, are experiencing weak home price growth, reflecting tepid economic and demographic patterns.”You can dive into the rest of CoreLogic’s data by checking out the full report here. Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

first_img Report: FHA Must Reduce Share of High-Risk Loans Tagged with: FHA FHA Loans high risk loans Data Provider Black Knight to Acquire Top of Mind 2 days ago In a briefing on FHA loans, the AEI Housing Center said the agency needs to work to reduce its share of high-risk loans and do more to help build the supply of affordable housing.Edward Pinto of AEI said while the GSEs have worked to de-risk in recent years, the FHA is “picking up the slack,” which is leading to an unsustainable home-price appreciation gap. The report found that the mortgage risk index (MRI) for FHA loans in the low-price tier was 28.9% in September 2018. That fell marginally to 27.3% in September 2019. The agency said high-risk loans have an MRI of more than 12%. Additionally, the FHA has 47% of high-risk loans in the entry-level tier—a place where the agency does 80% of its business. Pinto said that while the GSEs are moving in the right direction as the housing boom enters its 9th year, they’re actions alone are not enough to impact home-price appreciation. The small change is also impacted by the FHA taking on more high-risk loans. Pinto added that the FHA must not only work to de-risk but reduce the number on entry-level loans and work to promote affordable housing options. Home-price appreciation remained in line for most of the 1990s but began to veer off course during the early 2000s. The gap between home-price growth results in the Great Recession that began in 2007 and ended in 2011 once home prices corrected, falling below wage growth. However, a similar trend of separation began in 2015 and home-price appreciation is one again distancing itself from wage growth. CoreLogic’s latest Home Price Index found home prices rose 3.7% annually in November 2019 and are expected to increase by 5.3% by November 2020. However, the Bureau of Labor Statistics’ most recent report, released on January 10, revealed average earnings rose just 2.9% over the past year and increased 3 cents month-to-month to $28.32.Among the reasons for the continual rise in price is the tightened supply, as the industry sits at the supply of around 2-2.5 months. Tobias Peters noted several policies—from both the FHA and GSEs—that he called “pro-cyclical,” causing a further imbalance of supply and demand. “All these policies have in common is they stimulate demand against supply,” Peters said. Additionally, the AEI report found that FHA loans have a Mortgage Default Risk of 31% as of September 2019.  Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago FHA FHA Loans high risk loans 2020-01-15 Mike Albanese Share Save  Print This Post Home / Daily Dose / Report: FHA Must Reduce Share of High-Risk Loans in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago January 15, 2020 830 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Streamlining the Uniform Mortgage-Backed Security Next: FHFA Appoints CSS Chairman Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Related Articles Sign up for DS News Daily Subscribe About Author: Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

first_img Google+ Derry death now being treated as murder Twitter WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly Pinterest Google+ Three factors driving Donegal housing market – Robinson Facebook Previous articleView video report on Letterkenny truckers protestNext articleBusiness evacuated following Bundoran gas explosion News Highland Police investigating the death of a man in Derry have upgraded their inquiry to murder.Paddy HarkinThe victim, who’s been named as Paddy Harkin, was assaulted in the Bayview Terrace area near Strand RoadPSNI station.Another man remains critically ill in hospital.One man is being questioned about the incident. Pinterestcenter_img Guidelines for reopening of hospitality sector published WhatsApp Calls for maternity restrictions to be lifted at LUH RELATED ARTICLESMORE FROM AUTHOR LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – February 20, 2011 Twitter Facebook News Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more

first_img Pinterest Pinterest Guidelines for reopening of hospitality sector published Need for issues with Mica redress scheme to be addressed raised in Seanad also Twitter RELATED ARTICLESMORE FROM AUTHOR Previous articleMcIlroy in touch at €10million Cup finaleNext articleMcHugh keen on Donegal return next year News Highland WhatsApp A new cooperative venture between Letterkenny Institute of Technology and the University of Massachusetts is being launched at the LYIT Co-Lab facility this morning.That inititive involves a link up between Colab and a similar U-Mass initiative centered on medical devices in Lowell.This was first flagged during a Donegal County Council visit to Boston in 2012, and LYIT president Paul Hannigan says Senator Murray has been centrally involved in the process…………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/09/paulhumass.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter LYIT confirms medical devices link up with University of Massachusetts Almost 10,000 appointments cancelled in Saolta Hospital Group this week center_img Facebook News Calls for maternity restrictions to be lifted at LUH WhatsApp By News Highland – September 12, 2014 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Google+ Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebooklast_img read more

first_img Facebook PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Dail hears questions over design, funding and operation of Mica redress scheme WhatsApp Google+ Twitter Facebook News Man arrested on suspicion of drugs and criminal property offences in Derry Man arrested in Derry on suspicion of drugs and criminal property offences released WhatsApp Google+center_img Pinterest By News Highland – October 10, 2014 Previous articleOwner of high end cars in Co Donegal urged to be vigilantNext articleYoung people urged to be aware of their mental health today News Highland RELATED ARTICLESMORE FROM AUTHOR The Health Service Executive has urged people in Donegal in at-risk groups to get vaccinated against the flu.Those in the at-risk groups include everyone aged 65 and over; residents of nursing homes and other long stay facilities; pregnant women and anyone over six months of age.Also anyone with a long term illness requiring regular medical follow-up such as chronic lung disease, chronic heart disease, diabetes or those with lower immunity due to disease or treatment should also get the vaccine.Dr Louise Doherty has this advise for anyone looking to get the vaccine:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/10/ldoc.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Pinterest Twitter People at risk in Co Donegal urged to get flu vaccine HSE warns of ‘widespread cancellations’ of appointments next week Dail to vote later on extending emergency Covid powers last_img read more

first_img Charges against Derry murder victim dismissed Google+ Google+ Twitter Facebook Dail hears questions over design, funding and operation of Mica redress scheme RELATED ARTICLESMORE FROM AUTHOR WhatsApp The case against a Derry man who was murdered in the city last month has been formally dismissed at Belfast Crown Court.35-year-old Barry Joseph McCrory was due to have been sentenced for an attempted robbery just before Christmas 2011.Barry McCrory had claimed that his robbery bid on the Santander Bank in Derry was little more than a “protest against capitalism”.It consisted of him presenting a note to a teller saying “this is a robbery” before he turned on his heel and walked out of the bank.Mr McCrory was shot dead in his girlfriends Shipquay Street flat on October 10.His shooting sparked a manhunt on both sides of the Derry-Donegal border for the alleged gunman, Kieran McLaughlin.Almost a week after the shooting, in the early hours of October 16, Mr McLaughlin was seen by Garda driving over the border back into Derry city.The PSNI picked up his trail until he abandoned his vehicle in the Galliagh area of the city where he was apprehended and arrested a short time later. Previous articleFight to save Coleraine DVA jobs brought to WestministerNext articleTwo men in court on charges linked to the death of Constable Philipa Reynolds News Highland Facebook Newscenter_img Pinterest By News Highland – November 7, 2013 Twitter Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry Man arrested in Derry on suspicion of drugs and criminal property offences released HSE warns of ‘widespread cancellations’ of appointments next week Dail to vote later on extending emergency Covid powers PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal WhatsApplast_img read more

first_imgNews Man arrested on suspicion of drugs and criminal property offences in Derry Facebook Facebook 75 positive cases of Covid confirmed in North Donegal’s All Ireland winning football team enjoyed a hero’s welcome back to the county last night.Over 20-thousand people turned out at the Diamond in Donegal town, where they made the Sam Maguire feel at home.Donegal Manager Jim McGuinness, thanked all the fans for their fantastic support….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/09/jim830.mp3[/podcast] WhatsApp Pinterest Twitter Google+ Further drop in people receiving PUP in Donegal Main Evening News, Sport and Obituaries Tuesday May 25th center_img Pinterest WhatsApp Over 20,000 people turn out to welcome Donegal team home RELATED ARTICLESMORE FROM AUTHOR Previous articleTwo men set to go on trial for €1.6 million drugs haul near LagheyNext articleDonegal team to tour Sam Maguire Cup around county today News Highland 365 additional cases of Covid-19 in Republic By News Highland – September 25, 2012 Google+ Twitter Gardai continue to investigate Kilmacrennan firelast_img read more