DS News Webcast: Friday 9/20/2013

first_img Share Save September 20, 2013 456 Views About Author: DSNews Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2013-09-20 DSNews Related Articles Subscribe Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Featured / DS News Webcast: Friday 9/20/2013 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Mortgage Returns Launches Analysis Report for Marketing Next: Housing Analyst Raises Concerns of Artificial Price Appreciation DS News Webcast: Friday 9/20/2013 in Featured, Media, Webcasts Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

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CFPB: Student Loan Debt Holding Back Homeownership, Economy

first_imgSubscribe CFPB: Student Loan Debt Holding Back Homeownership, Economy 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. in Daily Dose, Featured, Government, Headlines, News September 23, 2014 1,579 Views About Author: Brian Honea 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 The burden of student loan debt is preventing potential home buyers from starting households, which in turn is hindering overall economic growth, according to Consumer Financial Protection Bureau (CFPB) director Richard Cordray in remarks made on September 23.”I believe we are standing at a precipice when it comes to student loan debt in this country,” Cordray said. “That load has reached $1.2 trillion, second only to mortgages as a category of consumer finance. This burden is growing fast and the issues that flow from it are central to public policy in America.”The rising cost of tuition is causing higher student loan debt, which is in turn causing more borrowers to default. Cordray said CFPB estimates that more than seven million Americans are in default on more than $100 billion in student loan balances. For those who default at a young age, the black mark on their credit report may prevent them from buying a home – and might even keep them from getting a job, Cordray said.”The domino effect of student loan debt is real, and it is spreading,” Cordray said. “It is hard to erase this debt quickly – paying it back may take many long years and prevent people from achieving other financial milestones.”Thought leaders in the industry have long believed that reform is necessary in order to reduce skyrocketing student loan debt and free up the finances of would-be homebuyers.”If we are truly committed to promoting homeownership for generations to come, it is time to address the more than $1.2 trillion of federal student loan debt that is crippling the finances of future homebuyers and keeping them from experiencing the promise of homeownership,” Five Star Institute President and CEO Ed Delgado said last week in his remarks to industry leaders at the 2014 Five Star Conference and Expo. “If Washington wants to make a real difference for the future of our children – we must reform student education financing.”Cordray stated that young people are not forming new households at the same rate as they used to, and the decrease in household formation is preventing economic growth. Increased student debt is causing millennials to live with their parents until a later age, or to share living arrangements with peers.”The homeownership rate for young people peaked before the financial crisis and by the first quarter of this year was down more than 15 percent,” Cordray said. “This is very troubling because most first-time homeowners are young people who drive the market for home purchases.”The effects of heavy student debt are not felt in just the housing sector, Cordray said.”Student debt burdens can get in the way of young people buying a car, starting a small business, or saving for retirement,” Cordray said. “We are deeply concerned about how debt influences career choices by acting as a barrier to public service for a rising share of student loan borrowers.”Tools are available now to assist consumers with managing their student loan debt, Cordray said. CFPB has partnered with the Department of Education to develop a set of online tools known as “Paying for College,” which helps better educate students and their families as to what their financing options are when deciding how to cover educational costs. CFPB also offers answers to common questions it is asked regarding consumer finances (including student loans) in a feature known as “Ask CFPB.” Notably, Cordray said, CFPB now handles individual consumer complaints regarding student loans. Also, many who work in public service positions are eligible for student loan forgiveness, which “can enhance the affordability of public service careers,” Cordray said.Cordray announced that two organizations, AmeriCorps and the Peace Corps, are both signing the pledge to help consumers handle student debt. CFPB includes employees who are alumni of both organizations.”They are pledging to talk to employees about their options for student loan forgiveness, verify that they work for a public service organization, and check in with them annually to make sure they stay on track,” Cordray said. “We have also created toolkits for employers and employees to help them understand how to take advantage of these benefits. We want everyone eligible to be signing up for the loan forgiveness that federal law provides, which they are earning by virtue of their public service work. These are great first steps toward that objective.” 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 Home / Daily Dose / CFPB: Student Loan Debt Holding Back Homeownership, Economy 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: AmeriCorps CFPB Department of Education Homeownership Peace Corps Student Loan Debt Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily AmeriCorps CFPB Department of Education Homeownership Peace Corps Student Loan Debt 2014-09-23 Brian Honea Demand Propels Home Prices Upward 2 days ago Related Articles Previous: Home Prices Continue to Gain, But at Miniscule Rate Next: FSC Chairman Questions CFPB’s Data Collection Methods last_img read more

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Fannie Mae Announces Modification Interest Rate Hike

first_img Fannie Mae Interest Rate Loss Mitigation Mortgage Loan Modification Standard Modification Program 2014-10-08 Brian Honea Share Save Demand Propels Home Prices Upward 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Fannie Mae Interest Rate Loss Mitigation Mortgage Loan Modification Standard Modification Program Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles About Author: Brian Honea Fannie Mae Announces Modification Interest Rate Hike The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Loss Mitigation, Newscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Minneapolis Tops List of Best College Towns for Home Flipping Next: FHFA Appoints New Chief of Staff The Best Markets For Residential Property Investors 2 days ago October 8, 2014 1,062 Views Home / Daily Dose / Fannie Mae Announces Modification Interest Rate Hike Demand Propels Home Prices Upward 2 days ago 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 Fannie Mae announced earlier this week it will be adjusting the required interest rate for its Standard Modification Program.The new interest rate of 4.5 percent will be effective for all Fannie Mae mortgage loans approved for the Standard Modification Program on or after October 14, 2014.This will be the sixth adjustment to the interest rate of the Standard Modification Program since Fannie Mae launched the program in January 2012 as a way to help borrowers who are not eligible for the Home Affordable Modification Program (HAMP) avoid foreclosure.”The Fannie Mae Standard Modification interest rate is not determined on a preset schedule,” Fannie Mae said in the announcement. “The interest rate is subject to periodic adjustments based on an evaluation of prevailing market conditions.”The interest rate was just lowered from 4.5 percent down to 4.375 percent on September 15. When the program began in January 2012, the rate was 4.625 percent, but by December of that year, it had been adjusted to 4 percent even. On September 1, 2013, the rate was raised back up to 4.625 percent, then adjusted slightly down to 4.5 percent in July 2014.Fannie Mae noted in their announcement of the interest rate increase that “loan modification requests previously approved at the prior modification rate are not eligible to be resubmitted for approval under the new modification rate.” Sign up for DS News Daily Subscribelast_img read more

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Working for Women

first_imgHome / Daily Dose / Working for Women The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago September 4, 2017 1,955 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Rachel Williams Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Related Articles The disparity between men and women in leadership positions and compensation is one of the most pressing issues facing the financial services sector today.Despite broad recognition of the importance of tapping into the talents and perspectives of female executives, gender imbalance continues to plague the financial services industry, according to “Women in Financial Services 2016,” a global study sponsored by Marsh & McLennan Companies. The research cites the challenges faced by companies seeking the “right recipe” to create more opportunities for women’s advancement.Contributors to the study agree that improving workforce gender diversity is not just a “nice thing to do” but a commercial imperative as well.Ocwen, a leading mortgage servicing company, is going beyond talk to meet the challenge head-on. One of only a handful of companies in the mortgage banking world with a female board chair, Ocwen committed time and resources to its diversity and inclusion strategy by launching its first company-wide affinity group, the Ocwen Global Women’s Network (OGWN), in January.“We are fully committed to improving opportunities for women across our global workforce and ensuring balanced gender perspectives are well-represented at all levels of the company,” commented Ron Faris, Ocwen’s CEO. “We launched OGWN as a combination sounding board for business insights, learning platform, and networking forum to support our corporate focus on diversity, inclusion, and talent development.”OGWN provides members with an environment that promotes mentoring, professional development, workplace flexibility, and representation of women at all levels. The group is a platform for sharing information and ideas and accelerating employee skills and knowledge through networking.“One of our most critical success factors is the active commitment of our senior leaders, starting with Ocwen’s Board Chair Phyllis Caldwell and Chief Executive Officer Ron Faris,” said Toni Harrigan, Ocwen’s Chief Market and Credit Risk Officer and one of the executive co-leaders of OGWN.“Both Phyllis Caldwell and Ron Faris have spoken at our group meetings, but more importantly, they have spent time listening to the concerns of our team members,” Harrigan added. “Their participation fosters a constructive dialogue through which we can help our employees confront real issues they encounter in our workplace.”The group is open to all Ocwen employees worldwide. Already, OGWN’s registered membership, including men and women, is more than 10 percent of the company’s global full-time workforce.“Having this forum in place and available to all creates a platform for team members at every level and in every location to collaborate and contribute to making our company better,” commented Lola Oyewole, Ocwen’s Director of Human Resources and a founding member of the groupOGWN is organized at the regional level. Educational and networking activities are planned and carried out in each corporate location at least once a quarter. The programs range from informal coffee sessions to panel discussions with Ocwen executives and external speakers, including internationally recognized experts like Dr. Lois P. Frankel, a bestselling author and executive coach in women’s leadership development.“For a company like Ocwen, with employees located around the world, OGWN serves an important role in bridging cultural barriers and helping executives appreciate the unique needs of our female team members located in places like India and the Philippines,” said Diksha Dutt, VP Customer Care Center, who heads up the international arm of OGWN. “The more our senior executives understand how culture influences workplace behavior, the more receptive they will be to our locally generated ideas.”In observance of International Women’s Day in March, OGWN organized events across the globe, including panels of women entrepreneurs and industry stalwarts sharing their journeys to success and their approaches to breaking gender stereotypes. Ocwen board members Phyllis Caldwell and Jacques Busquet were part of the conversation.Barbara Holmes, Director of Ocwen’s Internal Review Group and OGWN co-leader, is already starting to see the benefits of OGWN participation come through in the day-to-day lives of employees. Since January, 50 percent of the leadership promotions at director and above level have been females in the U.S., while 25 percent of the employees hired into leadership positions at director and above were females in the U.S. Additionally, 50 percent of hires into senior manager roles in Asia Pacific have been females.“We are confident that this initiative will empower our female co-workers to take on more responsibility and build out their skills and expertise with greater confidence,” Holmes said. “At the same time, the participation of senior executives will contribute to a culture of greater understanding of the unique needs and challenges of our female employees, especially in overseas offices.”center_img Women in Housing 2017-09-04 Brianna Gilpin Tagged with: Women in Housing Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] Data Provider Black Knight to Acquire Top of Mind 2 days ago Working for Women The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: The Single Refiling Rule Reconsidered Next: Leading the Charge Subscribelast_img read more

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Keeping Up With Compliance Trends

first_img 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] Data Provider Black Knight to Acquire Top of Mind 2 days ago HOUSING mortgage 2017-10-16 Nicole Casperson in Daily Dose, Events, Featured Home / Daily Dose / Keeping Up With Compliance Trends About Author: Nicole Casperson 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 Sign up for DS News Daily  Print This Post Tagged with: HOUSING mortgage Related Articles October 16, 2017 1,385 Views center_img DS News talks with Rushmore Loan Management AVP Jacqueline Pardue to discuss some of the difficulties in compliance and vendor management. How do you help to standardize vendor management process in an industry that has so many different standards? See the exclusive interview here. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Keeping Up With Compliance Trends Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Market Update: Home Sales’ Status Next: Ask the Economist: Selma Hepp on Economic Growth Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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The Industry Pulse: Updates on Morningstar, CoreLogic, and More …

first_img Previous: FHA Announces Expanded Mortgage Relief for Disaster Victims Next: Mortgage Delinquencies Dip, Foreclosure Starts Spike Subscribe in Daily Dose, Featured, Headlines, News Sign up for DS News Daily  Print This Post Which companies are merging, and what professionals are moving? See some highlights in this update of the housing and mortgage industries.Chicago-headquartered Morningstar Credit Ratings has announced the appointment of Brian Grow as President of the company. In his new role Grow will oversee the day-to-day operations of the company’s business and will be based out of New York. He will report to Haywood Kelly, Head of Global research at Morningstar, the company said in a statement.“Brian has proven to be an extremely effective leader and has helped take Morningstar Credit Ratings from a single-asset class to a full-service and diverse rating agency,” said Kelly. “His analytical and technical expertise, high-quality standards, and history of strategic decision-making will support Morningstar in its mission to help investors reach their financial goals. I look forward to working closely with Brian to continue building our ratings and research offerings.”____________________________________________________________________CoreLogic, a global property information, analytics and data-enabled solutions provider, recently announced that Pete Carroll has joined the CoreLogic Government Affairs team as Executive, Public Policy & Industry Relations. Carroll brings housing finance and policy experience to the company and will report to Stuart Pratt, Global Head of Public Policy & Industry Relations. Most recently, Carroll served as EVP of Quicken Loans where he led the development and discussion of Quicken’s positions on a broad spectrum of policy issues. Earlier, he was SVP, Capital Markets, at Wells Fargo and was the Assistant Director, Office of Mortgage Markets, at the Consumer Financial Protection Bureau.“Pete is an accomplished executive who can elevate CoreLogic insights and exercise influence on policy, strategy and innovation to support the transformation of the housing finance sectors here in Washington,” said Pratt. “Pete and I will work together to continue to strengthen the voice and presence of CoreLogic in key government, agency and client discussions.”____________________________________________________________________Black Knight, Inc., a provider of software, data, and analytics solutions to the mortgage and consumer loan, real estate, and capital market verticals based in Jacksonville, Florida, announced the pricing of the previously announced underwritten public offering by affiliates of Thomas H. Lee Partners, L.P. of 8,000,000 shares of the Company’s common stock at a public offering price of $46.70 pursuant to a shelf registration statement filed with the Securities and Exchange Commission. The Company has agreed to repurchase from the underwriter 2,000,000 shares of the 8,000,000 shares of common stock being sold by the Selling Shareholder at a per-share purchase price equal to the price payable by the underwriter to the Selling Shareholder. As such, only 6,000,000 shares of the 8,000,000 shares of common stock being sold by the Selling Shareholder will be sold to the public. The Selling Shareholder will receive all of the net proceeds from this offering. No shares are being sold by the Company. The offering is expected to close on February 15, 2018, subject to customary closing conditions.____________________________________________________________________Arch Capital Group Ltd, the Bermuda-based financial services firm reported a net income of $203.5 million, a 9.9 percent annualized return on average common equity, compared to $62.4 million for the 2016 fourth quarter. The after-tax operating income to Arch common shareholders stood at $187.4 million, a 9.1 percent return on average common equity during the quarter.The company reported pre-tax catastrophic losses, net of reinsurance and reinstatement premiums, of $0.8 million, reflecting $68.4 million from the California wildfires, $1.5 million from other events and $69.1 million of reductions on the 2017 third quarter hurricane events. Arch’s book value per common share was $60.91 on December 31, 2017, a 2.2 percent increase from $59.61 per share in the prior quarter and a 10.4% increase from $55.19 per share during the same period in the prior year. Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago February 22, 2018 2,786 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Arch Capital Black Knight Inc Company News CoreLogic Morningstar Credit Ratings The Industry Pulse 2018-02-22 David Wharton The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Arch Capital Black Knight Inc Company News CoreLogic Morningstar Credit Ratings The Industry Pulse Servicers Navigate the Post-Pandemic World 2 days ago The Industry Pulse: Updates on Morningstar, CoreLogic, and More … Demand Propels Home Prices Upward 2 days ago About Author: David Wharton Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / The Industry Pulse: Updates on Morningstar, CoreLogic, and More … Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Fannie Mae Roundtable Explores LGBT Fair Housing Protections

first_img Previous: The Evolution of the REO Landscape Next: The Best Places to Live, Depending on Your Profession Share Save Fannie Mae Roundtable Explores LGBT Fair Housing Protections  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Fannie Mae Roundtable Explores LGBT Fair Housing Protections in Daily Dose, Featured, Government, Journal, News, Servicing Servicers Navigate the Post-Pandemic World 2 days ago AMDC American Mortgage Diversity Council Fannie Mae NAGLREP 2018-06-26 David Wharton On Tuesday, June 26, Fannie Mae hosted a roundtable at their headquarters in Washington, D.C., fostering a discussion of initiatives and legislation promoting diversity and equality within the housing industry for LGBT individuals.The event was moderated by Bill Fahey, VP, Office of Minority and Women Inclusion, Fannie Mae, who oversaw a wide-ranging roundtable discussion that included insights from Charmaine Brown, Director of the Office of Diversity and Inclusion at Fannie Mae; Derek Templeton, Executive Director of the American Mortgage Diversity Council; and Peter Nguyen, Director of the D.C. chapter of the National Association of Gay and Lesbian Real Estate Professionals (NAGLREP). (Brown also serves as Vice Chair of the AMDC, partnering with Chair Kathy Cummings of Bank of America.)”The AMDC appreciates the opportunity to be involved in today’s event,” Templeton said. “We look forward to continuing to work with Fannie Mae and NAGLREP to ensure that all Americans have equal access to homeownership, regardless of race, religion, or orientation.”Templeton discussed the mission and purpose of the AMDC, which works to promote diversity and inclusion throughout the mortgage industry. In order to further those goals, the AMDC strives to develop and provide tools and strategies to create an understanding and appreciation of individual differences in thought, experience, race, ethnicity, culture, religion, style, sexual orientation and gender identity and to move business practices forward to embrace diversity and inclusion as essential to innovation and optimal business results.Templeton also provided an update on the AMDC’s series of LGBT Town Hall events. The AMDC has so far hosted four of these events—in Dallas, Chicago, Miami, and Los Angeles—which are designed to bring together servicers and local LGBT community groups for a day of discussion regarding issues affecting the LGBT community, from perspectives of both homeownership and workplace inclusion. The AMDC Town Halls will culminate in the creation of a white paper report that will be circulated to thought leaders across the country, including mortgage industry leaders, housing policy experts, and participating LGBT organizations.NAGLREP’s Peter Nguyen presented an update on various diversity initiatives, including a legislative update on H.R. 1447, the Fair and Equal Housing Act of 2017. This bill would amend the Fair Housing Act of 1968 to add sexual orientation and gender identity as classes protected against discrimination in the sale, rental, or financing of housing.The roundtable discussion also touched on other relevant topics such as the state of the housing market when it comes to fair housing and equal-opportunity employment for LGBT individuals, the challenges of LGBT homelessness, and how Fannie Mae can work with groups like the AMDC and NAGLREP to promote equality, diversity, and inclusion for the LGBT community.To view the AMDC’s webinars, including their most recent “Understanding the Effects of Implicit Bias” presentation, hosted by AMDC Vice Chair Charmaine Brown, click here. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] 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 About Author: David Wharton Demand Propels Home Prices Upward 2 days ago June 26, 2018 5,025 Views Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: AMDC American Mortgage Diversity Council Fannie Mae NAGLREP Related Articles Sign up for DS News Daily Subscribelast_img read more

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PHH Servicer Ratings Rise

first_img The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily PHH Servicer Ratings Rise The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago August 13, 2018 2,125 Views About Author: Radhika Ojha Tagged with: Fitch Loan PHH portfolio Servicing 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. Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Recently, Fitch Ratings assigned an RPS3 U.S. residential primary servicer rating for prime product to PHH Mortgage Corporation (PHH). The rating agency also assigned a stable outlook, reflecting PHH’s experienced senior management and staff, enterprise-wide risk environment, compliance protocols and investments in its servicing technology.Fitch rates residential mortgage primary, master, and special servicers on a scale of 1 to 5, with 1 being the highest rating. Within some of these rating levels, Fitch further differentiates ratings by plus (+) and minus (-) as well as the flat rating.According to Fitch’s findings as of June 30, 2018, PHH serviced approximately 586,609 loans with an unpaid principal balance of $129 billion, of which 550,942 loans represented subservicing arrangements.Though Fitch did not publicly rate the credit and financial strength of PHH, it said that the Fitch financial institutions group had reviewed and provided an assessment of the servicer’s financial condition. “A company’s financial condition is a component of Fitch’s servicer rating analysis,” the agency said in a statement.According to Fitch, PHH, which announced its planned merger with Ocwen Financial Corp in February 2018, is currently targeting closing the transaction by the third quarter of 2018. The merger includes migrating Ocwen’s loan portfolio from its legacy proprietary system onto PHH’s system, which utilizes Black Knight Mortgage Processing Solutions (BKMPS) and LoanSphere Mortgage Servicing Package (MSP). “Fitch believes that the potential synergies realized with the merger, including an enhanced technology environment, best practices developed for compliance, audit and loan servicing processes, multi-layered disaster recovery, and business continuity contingencies, could prove beneficial if developed properly in the resulting single entity,” the ratings agency said while assigning a stable outlook for PHH.In the first quarter of 2018, PHH completed its initiative of exiting capital-intensive businesses, exiting its private label services origination business to focus only on subservicing loans for others and maintaining a portfolio retention business.Some other factors that led to PHH giving an enhanced rating to PHH included the servicer’s robust enterprise risk management hierarchy that identified, monitored, and addressed risk including proactive change management processes, quality assurance, and quality control protocols as well as a multi-dimensional testing program. PHH utilizes a hybrid model for internal audit where oversight is retained among a small group of auditors internally and the bulk of audit work is co-sourced to a third party auditing firm.Fitch said that it had not identified any instances of material non-compliance In both the Reg AB and USAP reports of PHH for the year ended Dec. 31, 2017.  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / PHH Servicer Ratings Rise Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Servicing 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 ago Previous: Senator Calls for Action on Zombie Properties Next: How the Fed’s MBS Holdings Stimulate Housing Fitch Loan PHH portfolio Servicing 2018-08-13 Radhika Ojha The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

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Home Maintenance and Hurricanes

first_img October 16, 2018 1,312 Views  Print This Post Home / Daily Dose / Home Maintenance and Hurricanes The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Previous: Pretium Capitalizes on Mortgage Servicing With Selene Acquisition Next: HUD’s Human Touch Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save About Author: Radhika Ojha Demand Propels Home Prices Upward 2 days ago 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 Tagged with: Authorizations BuildFax HOUSING Housing Starts Hurricane Maintenance remodeling Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Related Articles The Best Markets For Residential Property Investors 2 days ago Home Maintenance and Hurricanes The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 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. Authorizations BuildFax HOUSING Housing Starts Hurricane Maintenance remodeling 2018-10-16 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago A direct impact from the 2017 hurricane season has led to a sharp spike in home maintenance and remodeling activities, according to a housing health report published by BuildFax on Tuesday.The report, which looks at single-family housing authorizations, existing housing maintenance, and existing housing remodeling indicated that while the annual rate of authorizations for single-family housing units picked up the pace in September, the volume for housing maintenance projects and spend increased at progressively larger margins.  The report revealed that the pace of home remodeling was leveling out after a few years of steep increases.These sharp spikes, according to the BuildFax report, are likely a result of the 2017 hurricane season.”Typically, we see dips in maintenance and remodeling activity immediately following a natural disaster, as we saw in Florida following Hurricane Irma, which caused $10 billion in insured losses. Irma’s impact on Florida in September 2017 directly contributed to last month’s 5.06 percent increase in maintenance activity,” said Jonathan Kanarek, COO, BuildFax.The trend also indicates continued improvements to the health of the supply of the existing home as homeowners look to maintain their properties instead of investing in new ones, the report revealed. The annual rate of housing volume maintenance increased by 5.06 percent in September and the year-over-year spend on housing maintenance surged 18.14 percent from September 2017.On the other hand, the report revealed that the annual rate of housing remodeling volume increased by 2.39 percent in September. Year over year the spend on remodeling increased at a rate of 15.96 percent.For new housing supply, the report revealed that single-family housing authorizations increased at a seasonally adjusted rate of 3.20 percent month over month. On an annual basis, it increased by 10.91 percent over September 2017.The data also revealed a correlation between the spike in remodeling and maintenance activities in Harris County which was affected by Hurricane Harvey last year.”Hurricane Harvey is a different story. Harris County’s non-traditional permitting strategies spiked maintenance activity shortly after landfall. This will likely impact remodeling and maintenance activity well into 2019 and we’ll be tracking these trends in depth over time,” Kanarek said.The reported spike, according to BuildFax was due to authorities in Houston’s Harris County traveling to affected areas and flagging properties that suffered damage due to the storm. “This process was implemented to designate impacted properties as eligible for FEMA funding,” the report said. “Harris County flagged tens of thousands of properties in September and October 2017, which manifested as a drastic spike in maintenance and remodeling activity.”To read the full report, click here. Subscribelast_img read more

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New Leader Announced for ALTA

first_img About Author: Mike Albanese Tagged with: ALTA New Leader Announced for ALTA April 30, 2019 753 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Share Save 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 in Featured, Newscenter_img Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago ALTA 2019-04-30 Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago The American Land Title Association (ALTA), the national trade association of the land title insurance industry, has named Diane Tomb as its new CEO, effective July 1.Tomb, who has over 20 years experience in the housing field, will use her deep advocacy and public policy expertise on behalf of ALTA and its members.  “Diane is a recognized leader who understands the intersection of politics and business and the importance of informed public policy advocacy. She is the right person to lead ALTA and build on its successful legacy,” said Cynthia Durham Blair NTP, ALTA’s President. “Diane was a unanimous selection by the Board, and we expect her leadership and entrepreneurial spirit will immediately benefit our members, demonstrate our value to prospective members and continue ALTA’s tradition of strong advocacy on behalf of the land title insurance and settlement services industry.”Tomb served as the Executive Director of the National Rental Home Council. She also served as President and CEO of the National Association of Women Business Owners. Previously, she served as Assistant Secretary of Public Affairs at the Department of Housing and Urban Development during the George W. Bush administration. In 2003, Tomb founded D.C.-based public affairs and business advisory firm Tomb & Associates LLC. In addition, Tomb was a senior executive at the Fannie Mae Foundation and worked in the White House under Presidents Ronald Reagan and George H.W. Bush.Tomb currently serves as a commissioner on the Bipartisan Policy Center’s Commission on Political Reform and on the Board of Visitors at the Fund for American Studies. Tomb is also a member of the International Women’s Forum of Washington, D.C.“I am honored to join ALTA and look forward to leading this organization and working with the ALTA team to build upon the great success it has achieved to date,” Tomb said. “I’m also excited to work with ALTA members and all stakeholders across the title, settlement, mortgage and real estate industries to ensure we continue to protect property rights and deliver an exceptional closing experience for consumers.” The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Featured / New Leader Announced for ALTA Previous: State Senate Kills Foreclosure Notification Bill Next: Optimal Blue Launches Social Media Tool  Print This Postlast_img read more

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