DS News Webcast: Tuesday 9/16/2014

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago DS News Webcast: Tuesday 9/16/2014 in Featured, Media, Webcasts Servicers Navigate the Post-Pandemic World 2 days ago Join us at the 2014 Five Star Conference, in Dallas, in Texas 2014-09-15 Jordan Funderburk Is Rise in Forbearance Volume Cause for Concern? 2 days ago September 15, 2014 708 Views Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Savecenter_img The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily About Author: Jordan Funderburk Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Home / Featured / DS News Webcast: Tuesday 9/16/2014 Related Articles Subscribe Previous: New Trade Group Launches for REO Professionals in Midwest Next: Compliance Has Made Foreclosure Process Complicated, Experts Saylast_img read more

CFPB, Florida Receive $27.7 Million Judgment Against Firm for Foreclosure Relief Fraud

first_img The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / CFPB, Florida Receive $27.7 Million Judgment Against Firm for Foreclosure Relief Fraud Demand Propels Home Prices Upward 2 days ago CFPB, Florida Receive $27.7 Million Judgment Against Firm for Foreclosure Relief Fraud Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CFPB Consumer Financial Protection Bureau Foreclosure Relief Scams State of Florida 2015-05-29 Brian Honea The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, News Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 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. The Consumer Financial Protection Bureau (CFPB) and the State of Florida were granted a final judgment totaling $27.7 million against a Florida law firm and its affiliates for fraud perpetrated against distressed homeowners who were seeking relief or trying to avoid foreclosure, according to a release from the CFPB.The Hoffman Law Group and its operators, Michael Harper and Benn Willcox along with attorney Marc Hoffman, and the firm’s affiliates, Nationwide Management Solutions, Legal Intake Solutions, File Intake Solutions, and BM Marketing Group, all based in North Palm Beach, allegedly deceived consumers into joining frivolous lawsuits that were purported to pressure banks into modifying their mortgage loans to prevent foreclosure. The companies allegedly illegally collected millions of dollars in upfront legal fees from unsuspecting consumers.The court found that the companies were found liable for $11,730,579, the total amount they collected in illegal upfront fees from consumers, and also imposed an additional civil penalty of $10 million to be paid to the state of Florida, according to the CFPB.”These companies preyed on vulnerable consumers who were trying to save their homes from foreclosure,” CFPB Director Richard Cordray said. “The false promises made by these companies lured struggling homeowners into scams that led to greater financial hardship. We are working to protect consumers from illegal predatory practices by holding bad actors accountable for their actions.”According to the CFPB, the Hoffman Law group was set up to give the appearance that it would give specialized legal help to distressed homeowners who were either seeking mortgage loan modifications or trying to avoid foreclosure. Harper and Willcox ran the affiliated companies, which were set up to market the scam. The CFPB and the Attorney General of Florida obtained a temporary restraining order and asset freeze against the companies and against Harper, Hoffman, and Willcox, and a receiver took control of all the assets flowing from the alleged scheme per court order.The lawsuit charged the defendants with violating Regulation O, which was formerly known as the Mortgage Assistance Relief Services (MARS) rule, and Florida state law. Regulation O requires consumers to be given certain disclosures and prohibits the charging of advance fees for mortgage loan modification services.”Scamming homeowners worried about losing their homes is not only illegal, it is despicable, and thanks to the great work of my consumer protection division and the Consumer Financial Protection Bureau, these defendants will pay for preying on Florida homeowners facing foreclosure,” Florida Attorney General Pam Bondi said. “Foreclosure rescue scammers cannot evade the law by hiding behind a law firm. It is discouraging that there are attorneys out there that will allow their licenses to be used by shady companies to target people facing foreclosure.”Click here to see the complete text of the court’s judgment. To see the CFPB’s complaint, click here. To see the individual orders, click on their names: Marc Hoffman, Michael Harper, and Benn Willcox. Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img May 29, 2015 930 Views About Author: Brian Honea Related Articles Tagged with: CFPB Consumer Financial Protection Bureau Foreclosure Relief Scams State of Florida  Print This Post Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: DS News Webcast: Friday 5/29/2015 Next: HELOCs Nearing End-of-Draw Period Are At Risk of Delinquency Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Single-Family Rental Market Experiencing Shift Toward South and Midwest

first_img Tagged with: Institutional Investors Morgan Stanley Nomura Single-Family Rental Market The Best Markets For Residential Property Investors 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Institutional Investors Morgan Stanley Nomura Single-Family Rental Market 2015-06-04 Brian Honea June 4, 2015 805 Views Subscribe Home / Daily Dose / Single-Family Rental Market Experiencing Shift Toward South and Midwest Servicers Navigate the Post-Pandemic World 2 days ago Previous: Bipartisan Bill Introduced In Congress Aimed At Preventing Fed Bailouts Next: CFPB Fines PHH Corp. $109 Million For Mortgage Insurance Kickback Scheme CoStar, a research organization, reported that single-family rental (SFR) property acquisition is geographically shifting as home prices stabilize and credit conditions ease. Institutional investors have also become more selective in which properties to buy and are more focused on managing their properties, collecting rents, and improving operations.Morgan Stanley, an investment firm specializing in wealth management, investment banking, and sales, and trading services, analyzed a growing trend among institutional SFR operators that are moving away from quickly recovering western markets and heading toward the South and Midwest.Although still at the low end of its projections, the firm believes that this geographical change may help increase mortgage-backed security (MBS) issuance volume. Morgan Stanley analysts also noted that this type of shift affects property quality and realized home price appreciation.The SFR market boomed with news of major property acquisition of distressed properties in the early days in places that suffered greatly during the recession. These places included Phoenix, Las Vegas, and Southern California. “Houses in the West typically were acquired earlier than those in other parts of the country,” the Morgan Stanley analyst reported. “Because of that, those purchases have realized more of the post-recession appreciation. And because home values fell so far in those areas, the magnitude of the recovery in western metropolitan statistical areas was also typically greater.”With the market moving toward the South and Midwest, operating cost are likely to rise, CoStar reported. This will likely happen because institutional buyers are focusing on South and Midwest deals and if operators continue to report spending more on rehabilitation costs as a percent of total cost on properties in the South and Midwest than they do on houses in the West. This could also mean lower-quality properties and/or older homes in these regions, which could lead to higher ongoing expenses.Over the past two years, the SFR mortgage-backed securities market for single family rentals has grown rapidly, the CoStar reported. Institutional owners have brought 18 of these transactions to a total market value of $9.8 billion.However, CoStar notes that portfolio growth has slowed across the eight SFR institutional investors that issue mortgage-backed securities. Nomura estimated that the number of single-family homes owned by these firms increased by 44 percent in 2014, but grew by only 6 percent during the first quarter of 2015.“Looking ahead, Nomura now expects the pace of issuing mortgage-backed securities to slow considerably through the remainder of the year as the institutional investors move from focusing on acquisitions to improving management of their existing portfolios,” CoStar reported. “Assuming that the firms continue to slow their rate of growth and that 40 percent of the total portfolio is funded through mortgage-backed securities, Nomura estimates that the market may see an additional $2.6 billion in issuance through year-end.” Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img About Author: Xhevrije West Related Articles Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News  Print This Post 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Single-Family Rental Market Experiencing Shift Toward South and Midwest Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Budget Office Estimates Cost of CFPB Watchdog

first_imgSign up for DS News Daily Budget Office Estimates Cost of CFPB Watchdog Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Subscribe in Daily Dose, Featured, News Tagged with: Congressional Budget Office Consumer Financial Protection Bureau H.R. 957 Servicers Navigate the Post-Pandemic World 2 days ago Previous: Survey: Majority Supports Leveraging Private Capital to Reduce GSE, Taxpayer Risk Next: DS News Webcast: Friday 2/12/2016 February 11, 2016 1,082 Views Share Save The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Congressional Budget Office Consumer Financial Protection Bureau H.R. 957 2016-02-11 Brian Honea The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Budget Office Estimates Cost of CFPB Watchdog The Congressional Budget Office (CBO), has released an estimate of how much it would cost for H.R. 957, also known as the Bureau of Consumer Financial Protection—Inspector General Reform Act of 2015, which passed in the House Financial Services Committee in September 2015.The bill, which passed in the Committee by a vote of 56 to 3 on September 30, was sponsored by Steve Stivers (R-Ohio) and would create an independent inspector general for the Consumer Financial Protection Bureau (CFPB) who is nominated by the president and confirmed by the Senate. Currently, the CFPB shares an inspector general with the Federal Reserve.“Government accountability is important now, more than ever,” Stivers said. “This legislation will allow for increased oversight of an agency that has been given broad authority. It is important that we take the necessary steps to ensure the CFPB is accountable to the American people.”The CBO estimates that enacting H.R. 957 would increase direct spending by the federal government by $128 million over the 10-year period from 2016 to 2026 and would also increase revenues by $61 million over that same period (reflecting lower costs for the Fed’s OIG. These effects combined would increase budget deficits by $67 million over that 10-year period, according to the CBO.“Pay-as-you-go procedures apply because enacting the legislation would affect direct spending and revenues,” the report stated. “CBO estimates that implementing H.R. 957 would not affect discretionary costs. CBO estimates that enacting the legislation would not increase net direct spending or on-budget deficits by more than $5 billion in any of the four consecutive 10-year periods beginning in 2027.”Click here to view the CBO’s entire report.last_img read more

Lenders Optimistic About Diverse Growth Opportunities

first_imgHome / Featured / Lenders Optimistic About Diverse Growth Opportunities 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 Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 3, 2016 1,131 Views About Author: Xhevrije West Despite recent reports surrounding the dismal state of the U.S. economy, the housing market remains strong and unbothered by such news, particularly mortgage lenders.Housing market indicators, like home sale and prices, have shown significant amount of growth as the TILA-RESPA Integrated Disclosure rule passes.After suffering a major drop in November 2015 and recovering with the largest monthly increase ever recorded in December, existing-home sales seem to have found their balance to start the new year.The existing-home sales report from the National Association of Realtors (NAR) proves that lenders are well on the path to recovery from TRID delays.  The report found that existing-home sales increased 0.4 percent to a seasonally adjusted annual rate of 5.47 million in January from a downwardly revised 5.45 million in December. Existing sales are now 11.0 percent higher than a year ago, the highest annual rate in six months and the largest year-over-year gain since 16.3 percent July 2013.In the midst of tight supply, heightened competition for buyers, and unpredictable financial markets, U.S. home prices continued to rise in the fourth quarter.The Federal Housing Finance Agency’s (FHFA)House Price Index (HPI) shows that home prices rose 5.8 percent year-over-year in the fourth quarter of 2015. Prices increased 1.4 percent from the third quarter of 2015, marking the 18 consecutive quarterly price increase in the purchase-only, seasonally adjusted index. Home prices were up 0.4 percent month-over-month for December.A survey of 200 mortgage lending professionals from Lenders One showed that lenders are exuding confidence in the real estate market. In addition, lenders say that millennials, Hispanics, and boomerang buyers will lead the expected gains in business.According to the survey, 62 percent of lenders surveyed said that they expect mortgage purchase production to increase by an average of 11 percent in 2016. Another 87 percent indicated that the mortgage purchase market will be extremely active.“The strong confidence levels we’re seeing among lenders highlight the continued bounce back from one of the most challenging real estate and lending environments in U.S. history,” Goldman stated. “In an environment where lenders can once again focus on business growth initiatives, it will be more important than ever for mortgage professionals to have access to the tools and ongoing training they need to capitalize on these emerging trends.”In an effort to prepare for the expected uptick in activity, 60 percent of lenders noted that they their leading strategies for growth are new marketing techniques to reach new demographics. New product offerings received 42 percent of lenders’ votes, hiring staff got 40 percent, and regional expansion got 36 percent.Mortgage lenders in the housing market said that diverse growth opportunities will be the driving force behind the increase in business. Seventy-nine percent of lenders pointed to millennials as their target, as these young prospects enter into the peak age for purchasing a home. Hispanics were named by 71 percent of lenders surveyed, while non-traditional buyers in the rental and vacation home markets were named by 70 percent of lenders. Boomerang buyers, or those that can now qualify for a mortgage after undergoing a short sale, foreclosure, or bankruptcy, will be targeted by 68 percent of lenders. Previous: House Financial Services Committee Approves Regulatory Relief Bills Next: Clayton Holdings Names New Senior Managing Director of Lending Services Demand Propels Home Prices Upward 2 days agocenter_img Housing Market Millennials Mortgage Lenders 2016-03-03 Brian Honea Subscribe Lenders Optimistic About Diverse Growth Opportunities Tagged with: Housing Market Millennials Mortgage Lenders Is Rise in Forbearance Volume Cause for Concern? 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago in Featured, News  Print This Post Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily last_img read more

The Highs and Lows of Mortgage Compliance

first_img Demand Propels Home Prices Upward 2 days ago Tagged with: Compliance Mortgage Industry The Collingwood Group The Best Markets For Residential Property Investors 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. About Author: Xhevrije West Government agencies are completely changing the pace and manner in which the mortgage industry does business with a host of new regulatory requirements. This, in turn, has caused compliance to become the new focal point for lenders, servicers, and others in this space.Jerry McCoy, Senior Policy Advisor to The Collingwood Group, talked with DS News about the full circle of compliance and how the mortgage industry should be taking on these rules.What compliance trends are you seeing currently in the housing market?McCoy: I think that we’re seeing a general trend of increased compliance across the landscape, from an origination standpoint as well as on the servicing side of the equation–both from a regulatory standpoint–and when I say regulatory that could be from the state side, it could be from a federal regulator like the Consumer Financial Protection Bureau (CFPB), also could be some from the banking regulators or credit union side when I say regulation. So all of those have been increased in relation to the mortgage side in the overall equation. There is an increased emphasis in all of these on really the lens from the consumer side, so I think all of these are focused on what does the consumer side look like. Are they confused? Are they not? The regulatory side has been very edged against. It has dialed up significantly in terms of the equation and I would expect that trend to continue going forward.How does compliance impact the consumer?McCoy: It’s kind of a full circle if you think about it. So the compliance and regulatory environment–the rules–are focused on really two pieces. One is: does the consumer understand what they have? What they’re getting? What somebody is communicating to them, do they fully understand that? So they can make an informed decision. If you look at it in its core, that is fundamentally what a lot of the compliance components are around. You start there, and then you build rules around it. What rules can you put in place so you can ensure that is fundamentally what is the objective? And then from those rules–now that I have these rules–do those rules become the regulations? Those regulations you then have to turn around as an operator or as a business and ensure they have controls in place to make sure they’re able to meet those regulations. So as a result of that, they have increased levels of validation, asking for more information. There’s a lot more effort that goes in on that side, because the lender has to do more work and effort there. It then turns around and the customer experience is also impacted, because now you’re asking for more information from the customer and so then we start all back over again, if that makes sense. So all of these things have a direct cause and effect–positive and negative–in terms of what goes on in the equation. So there’s an increased cost associated as well. At the end of the day, as regulation increases, the cost to comply goes up.What new or upcoming regulations will directly impacting compliance?McCoy: If you look at this from two angles, obviously you have the new origination–you have TILA-RESPA Integrated Disclosure (TRID) and all the things associated with TRID and its impact with that. On the origination side, which is coming down the road–I think it deploys effective in 2017–but there are new Home Mortgage Disclosure Act (HMDA) disclosures that are going to be part of the equation, which are an increased data set. So that’s increasing the effort in terms of making sure you have good information and moving that through. On the servicing side of the equation, there are an extensive number of servicing guidelines and best practices that have been deployed not at the regulatory front but also from the investor side, in terms of addressing all of the servicing practices. And that’s core servicing, escrow management, insurance management, core payment processing, just basically going through the core, foundational servicing processes.How are mortgage companies faring with these new regulations?McCoy:  I think everybody is absolutely, 100 percent focused on ensuring that they’re meeting all of the requirements. Everybody is after to try to get it deployed and managing toward it. Failure is not an option, is the way I would kind of look at it, in terms of–in this equation. Given the multitude of things and processes that are touched as a result of these regulations, it adds a great deal of stress to the franchise to ensure that they’ve teed off and covered off every one of the potential implications within the process. So it has a fairly extensive implication across the franchise. Not only from systems, it includes documents to the consumer.What role does technology play in compliance?McCoy: I think that technology certainly has to be adaptable. And some firms have a better ability to do that than others, mainly because their information where their technology’s stacked might be newer – newer capabilities versus some older capabilities that are there. So they’re depending on the age and the way they’ve approached it, will have different impacts from a systems standpoint. I think that one of the big areas that relates to the systems themselves is around information management. So we’ve got a lot of systems that are there. How do we bring that information together from all those disparate systems so that you can now take actionable approaches to meet the compliance department – to help in that process.It has certainly had an impact on innovation, because it stifles it a bit, and the reason behind is it as you might want to move forward and try new products or new processes, it’s incredibly important that when you step out, you’re able to do that in a way that is–all of the requirements.  Failure’s not an option. In the environment we’re in today, really has to be tight all the way through. Just because we have a great idea, if we can’t really navigate that great idea or that great process through the compliance and regulatory environment, it’s going to be a problem. That doesn’t mean innovation doesn’t happen. Part of it around how you navigate through the process, make sure you’ve met all the compliance requirements, at the same token of reaching that new, innovative way to do it.What’s an outlook for compliance in 2016 and beyond?McCoy: It is here to stay. I think that it will increase in the process. I don’t think the pendulum has swung back down yet. It’s going to be increased level that’s there, you have an increased level of transparency that now exists. So with the increased level of transparency, things such as TRID, the new HMDA guidelines, the variety of other things that will come into play, that will then lead into additional views and processes, so I would in essence see the regulatory environment will be a very top priority focus for folks in terms of managing their business going forward. It’s here to stay, and it’s the firms that embrace–incorporate it into their process, incorporate it into their cultural components. Culture is extremely important in this equation, and say, how do we make sure that we are absolutely committed to doing all of the right things and ensuring that our systems are in play to do that? Do we have good transparency to ensure that we’ve got there? And that all of the folks on our team are focused on helping us get there. And helping us get to the right spot. And unfortunately, it’s also going to have some increased costs, some increase components to it. Again, you just have to navigate through how that works. Is Rise in Forbearance Volume Cause for Concern? 2 days ago Share Save Home / Featured / The Highs and Lows of Mortgage Compliance in Featured, News Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Postcenter_img The Highs and Lows of Mortgage Compliance Compliance Mortgage Industry The Collingwood Group 2016-03-15 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily March 15, 2016 1,235 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Counsel’s Corner: Digging Deeper Into the 9th Circuit Court Decision on GSEs Next: Lenders, Here’s How to Attract First-Time Homebuyers Subscribelast_img read more

Ocwen Amps Up Borrower Outreach Efforts

first_img About Author: Scott Morgan Subscribe The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Ocwen Amps Up Borrower Outreach Efforts Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Foreclosure Prevention Loss Mitigation Ocwen Financial Ocwen Financial Corporation and Oakland-based NID Housing Counseling Agency will team up for a late-July event aimed squarely at low-to- moderate income and minority communities in California.The combined effort is scheduled for Saturday, July 23, in San Bernardino, as a way to discuss home ownership and prevent foreclosures in lower-income areas. Ocwen home retention agents and certified NID housing counselors will meet with distressed homeowners face-to- face with to “explore options to make their mortgages more affordable through sustainable loan modifications,” the companies announced Thursday.“We understand the pride and gratification derived from owning a home and the devastating consequences of losing it to foreclosure,” said Ray Carlisle, president of NID. “The foreclosure process does not just harm borrowers, but entire families and communities.”The event will offer assistance with preparing Request for Mortgage Assistance (RMA) packages; information on borrower eligibility for state and federal foreclosure assistance programs; counseling on possible mortgage solutions tailored to fit their unique situations; and information on free follow-up housing counseling and education with NID.Worries about California’s housing crisis have been growing over the last year or so. The state was hit hard by the recession, but bounced back to being a market of swift sales and rapidly escalating house prices. The downside to that growth has been limited inventory and increased competition that is especially daunting to younger buyers. Last year, the Los Angeles Daily News reported on the growing problem millennials are having trying to crack California’s housing market, and in February, Forbes named Riverside as one of the five overvalued markets (by 17 percent) that could be ground zero for the next housing bubble‒‒and pop.NID claims it has worked with approximately 1,250 homeowners annually over the last eight years, with an average balance of $135,000 among its clients, translating more than $168 million in home value designed to keep wealth concentrations within local neighborhoods and mitigate against destabilization.Ocwen, which is still grappling with the $30 million fallout revolving around accusations that accused the company of falsely certifying its compliance with federal mortgage programs services more than 265,000 mortgages in California during the recession, claims to have helped more than 625,000 families avoid foreclosure. In California alone, Ocwen has granted more than 80,000 loan modifications, of which 51 percent received a principal reduction. Previous: Investing? Do Your Homework Next: DS News Webcast: Tuesday 7/5/2016 Demand Propels Home Prices Upward 2 days ago July 4, 2016 1,498 Views Related Articlescenter_img Home / Daily Dose / Ocwen Amps Up Borrower Outreach Efforts  Print This Post The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Loss Mitigation, News Foreclosure Prevention Loss Mitigation Ocwen Financial 2016-07-04 Brian Honea Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

Buyers More Positive About Housing Market

first_img The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: U.S. Homeowners’ Trillion-Dollar Quarter Next: Rising Prices and Rising Expectations Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles About Author: Aly J. Yalecenter_img Aly J. Yale is a longtime writer and editor from Texas. Her resume boasts positions with The Dallas Morning News, NBC, PBS, and various other regional and national publications. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more. Buyers More Positive About Housing Market Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Daily Dose / Buyers More Positive About Housing Market  Print This Post Subscribe Fannie Mae Homebuyers housing market. hpsi sellers 2017-12-07 Aly J. Yale Homebuyers are becoming increasingly more positive about today’s housing market. According to Fannie Mae’s recent Home Purchase Sentiment Index (HPSI), the number of buyers who say now’s a good time to buy is up seven percentage points for the month—and is nearing its highest point on record.The HPSI for November weighed in at 87.8—up from just 85.2 in October and 82.2 last year. Currently, about 29 percent of consumers believe it’s a good time to buy a home.According to Doug Duncan, Fannie Mae’s Senior VP and Chief Economist, November’s HPSI indicates the market may be in for an upturn come 2018.“In November, the HPSI rebounded to near its all-time high, returning the index to its gradual upward trend and suggesting fairly stable consumer home-buying attitudes,” Duncan said. “These results are consistent with our expectation that the housing market will continue its modest expansion going forward. Next month’s survey should offer the public a first look at the influence that potential tax reform may have on consumers’ views toward housing and the broader economy.”The HPSI also showed that seller sentiment is up as well. The number of homeowners who believe now is a good time to sell jumped to 34 percent in November—up four percentage points over the month and 21 percentage points over the year.The number of consumers who believe home prices will rise in the next year also rose, increasing six percentage points for the month, as did the share of people who feel secure in their jobs, which jumped four percentage points in November. According to the HPSI, 46 percent say prices will rise in the next 12 months, while 74 percent say they are not concerned with losing their jobs.See the full results of the Home Purchase Sentiment Index at FannieMae.com. Tagged with: Fannie Mae Homebuyers housing market. hpsi sellers Data Provider Black Knight to Acquire Top of Mind 2 days ago December 7, 2017 1,624 Views last_img read more

Northsight Management Finalizes Merger with Truly Noble Services

first_img in Featured, Headlines, Journal, News, REO Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / Northsight Management Finalizes Merger with Truly Noble Services Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Northsight Management LLC, a thriving mortgage field services provider offering a full array of default property management services, announced the finalization of its merger with Truly Noble Services, a well-respected Texas-based full-service general contractor.According to Josh Sarchet and Steve Johnson, Northsight principals, “We are confident this fusion of organizations will add significant expertise and strength to Northsight. The team at Truly Noble has a solid reputation within the REO repair space which will fortify Northsight’s service offerings, as well as further support and expand its current client base.”Based in Garland, Texas, Truly Noble Services was established in 1996 when James L. Easley, CEO and Chairman of the Board, launched the company after working to repair flooded homes throughout Dallas. Soon afterward, the company expanded into servicing the vacant property market. Truly Noble Services strives for three things on every job: 1) getting the work completed on time, 2) getting the work completed on budget, and 3) getting the work completed correctly the first time. Truly Noble now offers a wide array of repair and maintenance services across eight different Southeastern states, including their home state of Texas.“With the onboarding of our new team from Truly Noble, Northsight can continue its objective of becoming the premier service provider with an unfailing commitment to customer service, continuous improvement, and integrity,” Sarchet stated.Founded in 2009, Northsight Management’s commitment to high standards for all employees and contractors, as well as its advanced technology, services, and systems, surged the company forward as one of the fastest growing field service management companies in the industry. Today, Northsight preserves more than $700 million in real estate assets nationwide and offers a full range of property preservation and repair services, including but not limited to the following: inspection, re-key, eviction, winterization, rehab, lawn care maintenance, roofing, plumbing, electrical, and mold remediation.As part of the merger, Northsight will be opening a new office in Dallas, Texas. Northsight’s headquarters will remain in Scottsdale, Arizona. Share 2Save Sign up for DS News Daily 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  Print This Post February 7, 2018 3,668 Views center_img The Best Markets For Residential Property Investors 2 days ago About Author: David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Company News Mergers & Acquisitions Northsight Management Property Management Property Preservation truly noble services 2018-02-07 David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Company News Mergers & Acquisitions Northsight Management Property Management Property Preservation truly noble services Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Previous: Nearly All California Cities Failed to Hit Housing Goals Next: Fiserv’s Latest Venture to Create Growth and Opportunity Subscribe Northsight Management Finalizes Merger with Truly Noble Services The Best Markets For Residential Property Investors 2 days agolast_img read more

MBA Names Robert D. Broeksmit as CEO & President

first_imgHome / Daily Dose / MBA Names Robert D. Broeksmit as CEO & President  Print This Post The Best Markets For Residential Property Investors 2 days ago David Stevens MBA Mortgage Bankers Association Robert Broeksmit Treliant Solutions 2018-06-07 David Wharton Demand Propels Home Prices Upward 2 days ago After a months-long search, the Mortgage Bankers Association (MBA) on Thursday announced that Treliant Risk Advisors’ Robert D. Broeksmit will soon take up leadership of the MBA, taking the baton from outgoing MBA President and CEO David Stevens.Broeksmit is currently President and COO of Treliant. He is set to step in as the MBA’s President and CEO on August 20, 2018. David Stevens had previously announced his effective retirement date as September 30, 2018.”I am honored and humbled to be selected for this role,” Broeksmit said. “Our industry, particularly on the residential side, is facing headwinds, and I look forward to working with the MBA team to address all business, legislative and regulatory issues ahead of us to ensure the residential, commercial and multifamily real estate markets remain healthy and vibrant.”A 33-year veteran of the mortgage industry, Broeksmit headed Treliant’s mortgage services areas and its executive office, according to the press release. Prior to joining Treliant, Broeksmit served as EVP of Chevy Chase Bank. He has previously served on the MBA’s Board of Directors and as Chairman of the organization’s Residential Board of Governors.”The MBA has never been stronger, and we have full confidence that Bob is the right person to take the MBA to even greater heights,” MBA Chairman David Motley said in a press release. “He brings with him decades of industry knowledge and leadership experience at a time when our industry is facing great change and disruption.”“Congratulations to Robert on his appointment,” said Ed Delgado, President and CEO of The Five Star Institute. “I have no doubt that his wealth of industry knowledge and experience will serve the MBA well moving forward. There is still much work to be done toward sensible policy reform that has a significant impact on housing. We look forward to continuing to work in the spirit of collaboration with the MBA and all industry stakeholders on initiatives that have a positive impact on the mortgage industry.””Bob’s appointment to the helm of the housing finance industry’s most important trade association is a proud day for Treliant,” said Andrew L. Sandler, Chairman of Treliant. “The MBA made a great choice in selecting Bob for this critical role and we look forward to supporting him in his leadership of the MBA.””Bob has had a tremendous, positive impact at Treliant as a business leader and colleague,” added Treliant CEO Susanna K. Tisa. “Treliant is well-positioned for continued success as a direct result of Bob’s tireless efforts to support our clients and his contributions to the enormously successful team that built Treliant’s strategic advisory business. We can think of no one better qualified to provide strategic leadership to the mortgage industry.”The news follows Stevens’ announcement last October that he would be stepping down from the role after six years, citing health issues and a desire to spend more time with his family. Stevens had been public about his battle against cancer, saying in a statement at the time that, “With my cancer in remission, focusing on family, friends and staying healthy is my priority. This was a difficult decision; it’s hard to walk away from supporting an industry that shaped my career. It’s been an honor to work with the talented staff, strong leadership and diverse membership of the MBA.””I’ve known Bob [Broeksmit] for over a decade, and he is an excellent choice to lead MBA,” Stevens said. “Bob brings a deep understanding of how the industry works and understands the needs of our membership, and I look forward to working with him to ensure a seamless and successful transition.”To read exclusive quotes from outgoing MBA President and CEO David Stevens, discussing his legacy with the organization and the challenges his successor will face, click here. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 7, 2018 2,012 Views 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] About Author: David Wharton The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Industry Pulse: Updates on Ginnie Mae, Hyland, and More Next: MBA Names New President & CEO: Industry Reaction Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Journal, News Tagged with: David Stevens MBA Mortgage Bankers Association Robert Broeksmit Treliant Solutions Share Save Servicers Navigate the Post-Pandemic World 2 days ago MBA Names Robert D. Broeksmit as CEO & President Subscribelast_img read more