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

Exxon Mobil makes yet another oil discovery in Guyana

first_imgUS based oil giant, ExxonMobil has struck oil again this time at the Longtail-1 exploration well, making this the 8th successful discovery.In a press release ExxonMobil’s partner Hess Corp said this discovery creates the potential for additional resource development in the southeast area of the Stabroek Block.“The Longtail discovery is in close proximity to the Turbot discovery southeast of the Liza field,” said Steve Greenlee, president of ExxonMobil Exploration Company. “Longtail drilling results are under evaluation. However, the combined estimated recoverable resources of Turbot and Longtail will exceed 500 million barrels of oil equivalent and will contribute to the evaluation of development options in this eastern portion of the block.”ExxonMobil is currently making plans to add a second exploration vessel offshore Guyana in addition to the Stena Carron drillship, bringing its total number of drillships on the Stabroek Block to three. The new vessel will operate in parallel to the Stena Carron to explore the block’s numerous high-value prospects.Guyana gained world attention in May last year, when ExxonMobil announced the discovery of more than 90 meters of high-quality, oil-bearing sandstone reservoirs about 120 miles off its coastline.last_img read more

FC Barcelona not taking winning run for granted, says Ernesto Valverde

first_imgBarcelona must appreciate matching the club’s record of nine wins and a draw in their first 10 games of a Liga campaign, especially after Real Madrid’s defeat at Girona, coach Ernesto Valverde told a news conference on Monday.Barca rode their luck to beat Athletic Bilbao 2-0 away on Saturday to maintain a four-point gap at the top of the table, thanks to an outstanding display from goalkeeper Marc-Andre ter Stegen and a Raul Garcia shot that bounced off the bar.On Sunday, Spanish and European champions Real blew a 1-0 halftime lead to lose 2-1 against Girona, who are playing in the top flight for the first time in their 87-year history.Real are now eight points behind their arch-rivals.Barca won 3-0 at Girona last month and only dropped points in a 1-1 draw at Atletico Madrid. They also have a perfect record in the Champions League and could reach the last 16 if they win at Valverde’s old club Olympiakos Piraeus on Tuesday.”La Liga is really difficult,” Valverde said ahead of the Group D game in Athens.”We aren’t the only team that has to suffer to win. Madrid lost at Girona and Atletico drew at home (to Villarreal). The points are worth a lot and you have to work very hard to win.”We all expect to slip up at some point and the distances between teams can increase or decrease, but last weekend shows that we have to really appreciate these victories.”Barca beat Olympiakos 3-1 two weeks ago despite playing the second half with 10 men but Valverde expects a tougher time at the noisy Karaiskakis Stadium, where he is revered for leading the Greek giants to three league titles and two domestic Cups.advertisement”It’s very exciting to come back to this stadium again. It means so much to me and I’m looking forward to the game for every reason,” added Valverde, who coached Olympiakos between 2008 and 2012 in two separate spells.”We are playing for the right to qualify from the group, three points are at stake and we get to experience a marvellous atmosphere.”Barca’s rampant start to the season contrasts to Olympiakos’s dismal run of results. They have lost all three games in the Champions League and on Saturday were beaten 1-0 by fierce city rivals Panathinaikos.”In Barcelona they played defensively and tried to catch us out but at their place they’ll have a huge lift from their fans and they’ll want to beat us,” Valverde said.Barca captain Andres Iniesta has a calf injury, Gerard Pique is suspended, while fellow centre back Javier Mascherano, who has travelled to Greece, has been suffering with a fever meaning Thomas Vermaelen could make his first appearance of the season.last_img read more