FHFA Says Conforming Loan Limits Will Not Change for 2015

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago FHFA Says Conforming Loan Limits Will Not Change for 2015 in Daily Dose, Featured, News, Secondary Market The Best Markets For Residential Property Investors 2 days ago Tagged with: Conforming Loan Limits Fannie Mae FHFA Freddie Mac Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: DS News Webcast: Tuesday 11/25/2014 Next: Unemployment Rate Falls Year-Over-Year in 42 States, D.C. About Author: Tory Barringer  Print This Post Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Conforming Loan Limits Fannie Mae FHFA Freddie Mac 2014-11-25 Tory Barringer Related Articles November 25, 2014 793 Views Sign up for DS News Daily Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Conforming loan limits will remain untouched throughout most of the country for 2015, the Federal Housing Finance Agency (FHFA) revealed Monday.FHFA announced that the maximum limit for mortgages acquired by Fannie Mae and Freddie Mac will stay at $417,000 for single-unit properties in most of the country, with a maximum of $625,500 for certain high-cost areas.Loan limits are recalculated and set each year under the terms of the Housing and Economic Recovery Act (HERA). Calculations are based on median home values.While loan limits were kept the same for most the United States, 46 counties will see an increase based on their own local conditions. Those counties are concentrated in higher-cost areas in a handful of states, including California, Colorado, Massachusetts, Maryland, New Hampshire, Tennessee, and Washington.A full list of counties with higher limits can be found at FHFA’s website, along with the agency’s list of loan limits for all counties nationwide. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / FHFA Says Conforming Loan Limits Will Not Change for 2015 Subscribelast_img read more

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Atlanta Fed Launches Online Publication Covering U.S. Economic Issues

first_img Share Save Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Featured, Government, News Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago August 25, 2015 917 Views Home / Featured / Atlanta Fed Launches Online Publication Covering U.S. Economic Issues Atlanta Fed Launches Online Publication Covering U.S. Economic Issues The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days agocenter_img Related Articles Atlanta Fed Banks Federal Reserve U.S. Economy 2015-08-25 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Subscribe Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Atlanta Fed Banks Federal Reserve U.S. Economy The Federal Reserve Bank of Atlanta has launched Economy Matters, an online publication on the bank’s website covering a broad range of economic articles, news, and research, according to an announcement on the Atlanta Fed’s website.Included in the inaugural edition of Economy Matters post is a piece examining how Atlanta Fed president Dennis Lockhart prepares for the Federal Open Market Committee (FOMC) and his experience with the Committee, which is scheduled to meet again in September.  A hot topic for September’s meeting will be whether or not the Federal Reserve will raise the federal funds target rate, which has been at or near zero for seven years. Monday’s crash of the Dow Jones index left many doubting that the Fed will raise rates in September, since Fed Chair Janet Yellen has repeatedly said that sufficient economic growth is needed before the Fed can raise rates.Economy Matters offers insights on sectors as well as global, national, and rental trends and industries, and will publish in real time. It will also include podcasts, quizzes, original photography, videos, and more, according to the Atlanta Fed. The inaugural edition features a study by the Fed on how technology as affected the way individuals and businesses pay for goods and services.The online magazine will offer one in-depth piece and several brief articles per month and will include summaries of research and conferences hosted by the Atlanta Fed. Readers of Economy Matters can subscribe via email and receive alerts when content is published.The Atlanta Fed serves the Sixth Federal Reserve District, which includes Alabama, Florida, and Georgia as well as parts of Louisiana, Mississippi, and Tennessee. The Atlanta Fed participates in setting national monetary policy as part of the nation’s central banking system; it also supervises numerous commercial banks and provides depository institutions and the U.S. government with various financial services. Servicers Navigate the Post-Pandemic World 2 days ago Previous: Mortgages Rank Third Among Consumer Complaints in Latest CFPB Snapshot Next: Housing Market is ‘Rapidly Cooling’ as a Result of Price Limits and Less Buyer Interest  Print This Postlast_img read more

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‘New’ Severe Delinquencies Tumble to 2009 Level

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Black Knight Financial Services Severely Delinquent Mortgages 2015-11-12 Brian Honea The percentage of “new” severe delinquent residential mortgages reported for September 2015—that is, the number of severely delinquent loans that were current six months ago—was the lowest of any September since 2009, according to Black Knight Financial Services.The share of new severely delinquent borrowers in September was reported at 0.66 percent, a number that has been steadily declining since hitting its September peak of 2.81 percent six years ago, according to Black Knight. The data shows a seasonal effect to new severe delinquencies; the rate has peaked in every September or October for the last six years.The number of new severe delinquencies has dropped from an average of three in every 100, its peak reached back in 2009, down to seven for every 1,000 in September of 2015. According to Black Knight, there is a definite seasonal effect to new severe delinquencies; the rate has peaked in every September or October for the last six years.Mortgages that originated during the bubble years of 2005 to 2008 accounted for the highest percentage of new serious delinquencies; they make up 45 percent of new serious delinquent mortgages even though they account for only 17 percent of total loans in the mortgage universe.Meanwhile, mortgages that originated during the post-crisis years (2009 to 2015) make up 68 percent of all mortgages but account for just 34 percent of new severe delinquencies, Black Knight reported.“These post-crisis vintages are seeing new seriously delinquent loans rates of half the national average,” the report stated.The new severe delinquency rate on mortgages with a second lien was more than twice those without a second lien in September (1.04 percent compared to 0.48 percent), which has been the case for about the last two years, according to Black Knight. During this period, mortgages with a second lien have seen “increased seasonality in new severely delinquent loan rates.” November 12, 2015 1,273 Views  Print This Post Share Save Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago ‘New’ Severe Delinquencies Tumble to 2009 Level Previous: Mixed Economic, Housing Data Cast Doubt on Fed Liftoff Next: DS News Webcast: Friday 11/13/2015 Sign up for DS News Daily center_img 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 Home / Daily Dose / ‘New’ Severe Delinquencies Tumble to 2009 Level The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Tagged with: Black Knight Financial Services Severely Delinquent Mortgages Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Subscribelast_img read more

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Rising Interest Rates to Help MSR Holders

first_img The Best Markets For Residential Property Investors 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 Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Non-mortgage banking companies in the U.S. that hold  interest-rate-sensitive mortgage servicing rights (MSR) will soon get a “generous increase” in their capital positions thanks to a recent rise in interest rates, according to a report recently released by Moody’s Investors Service.The report said the rise in the 10-year Treasury yield, which increased to approximately 2.55 percent to year end from 1.65 percent  as of Q3 will result in mortgage companies reporting significant write-ups in their fair value MSRs for the fourth quarter of 2016. Fourth quarter earnings of US banks indicate a significant reversal of MSR fair value declines observed during the first nine months of 2016. Moody’s expects significant MSR write-ups for some of the six public non-bank mortgage companies Moody’s rates, reversing the declines in equity they incurred because of the MSR deterioration.”The prolonged low interest rate environment has led to significant declines in MSRs, eroding the capital and profitability of US non-bank mortgage companies that hold MSRs, but relief is on the way,” Gene Berman, Moody’s AVP-Analyst said.Of the six public mortgage companies Moody’s rates, Nationstar Mortgage Holdings, Inc. (B2 stable) and Walter Investment Management Corp. (Caa1 negative) should benefit the most from interest rate increases. Both Nationstar and Walter experienced large material reductions of MSRs at 10 percent and 23 percent of fair value of their MSRs during the first nine months of 2016, owing to the significant decline in interest rates. Assuming the MSR reductions are reversed, the capital levels of Nationstar would both increase by 1.7 percent (TCE to TMA), or a respective increase of 20 percent and 170 percent in percentage terms. Tagged with: Interest rates MSR MSRs About Author: Phil Banker Phil Banker began his career in journalism after graduating from the University of North Texas. He has covered a number of communities across Texas and southern Oklahoma, writing news and sports for publications including the Ardmoreite, Ennis Daily News and the Plano Star-Courier. He is currently a contributor to DS News and The MReport. February 3, 2017 2,032 Views Demand Propels Home Prices Upward 2 days agocenter_img Previous: EXCLUSIVE: Barney Frank Responds to Trump Order Next: The Week Ahead: Talking Appraisal Share Save Home / Daily Dose / Rising Interest Rates to Help MSR Holders Rising Interest Rates to Help MSR Holders The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Related Articles Interest rates MSR MSRs 2017-02-03 Phil Banker Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines, News The Best Markets For Residential Property Investors 2 days agolast_img read more

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Mortgages Facing Risk of Fraud

first_imgHome / Daily Dose / Mortgages Facing Risk of Fraud Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago October 6, 2017 1,257 Views CoreLogic HOUSING mortgage 2017-10-06 Nicole Casperson About Author: Nicole Casperson CoreLogic Senior Director of Fraud Solutions Strategy Bridget Berg recently took a look at the overall fraud risk outlook for 2017.Based on CoreLogic’s information, fraud risk increased by about 17 percent year-over-year and is now at its highest level since 2010.“Keep in mind, however, that in historical terms, fraud, overall, is still relatively low, given the tighter underwriting since the mortgage crisis, and the amount of rate and term refis over the past few years,” said Berg.However, in 2017, despite the decrease in application volumes, the total number of applications with fraud is higher than last year, in fact, CoreLogic discovered 13,404 applications with indications of fraud in Q2 2017 alone.Berg said there are two main drivers of fraud risk increases this past year, including a continued increase in purchase transaction share from 55 percent of applications to 66 percent over the last year. The other factor is originations coming through wholesale channels, as these loans have a “historically exhibited a higher risk of fraud.”According to Berg, there are three types of mortgage fraud on the rise for 2017. First, occupancy fraud risk has increased by 7 percent, which includes traditional occupancy risk and reverses occupancy risk. Second, transaction fraud risk, covering straw buyers and falsified down payments, has increased about 4 percent. The third type of risk is income fraud risk, which increased 3.5 percent, with “most of the increase happening in the first half of this year.”Regionally, the top three states that are at risk for mortgage fraud are New York, New Jersey, and Florida. However, the states showing the greatest growth rate in fraud are lower-risk states in the middle of the country including, Iowa, Indiana, and Missouri.Berg notes that for the future, CoreLogic will be monitoring cash-out refinances and home equity loans, as rising home prices and homeowner equity, they are forecasted to become prevalent. The fraud risk on these products is higher than it is for rate and term refinances, so Berg said this is another area to watch over time.View the full report by clicking here. Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines Previous: Industry Reacts to September Employment Report Next: HUD: Establishing Equal Opportunities Data Provider Black Knight to Acquire Top of Mind 2 days ago Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articlescenter_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: CoreLogic HOUSING mortgage  Print This Post The Best Markets For Residential Property Investors 2 days ago Subscribe Mortgages Facing Risk of Fraud Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more

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Calidant Capital Partners with Five Star Institute

first_img Is Rise in Forbearance Volume Cause for Concern? 2 days ago Demand Propels Home Prices Upward 2 days ago Calidant Capital Partners with Five Star Institute Previous: CFPB vs. PHH—An Unexpected Conclusion Next: Home Equity Soars, But How High? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Kristina Brewer June 7, 2018 1,935 Views Home / Featured / Calidant Capital Partners with Five Star Institutecenter_img The Best Markets For Residential Property Investors 2 days ago in Featured, Investment, Journal, News Related Articles Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. Calidant Capital, a Texas-based private investment firm, announced today that it has made an equity capital investment in The Five Star Institute, a national trade association which holds conferences, produces publications, and maintains membership organizations for the mortgage industry. Calidant’s partnership with Five Star will enhance the company’s financial strength and increase its breadth of offerings for its customer base, as well as its ability to expand into adjacent and new markets–organically and through acquisition. “Our partnership with Calidant is an important part of growing the Five Star brand,” Mark Hulme, founder and Chief Creative Officer of Five Star said. “We are excited for this new chapter and the opportunity it will bring to expand our business across various sectors.”Though financial terms of the transaction were not disclosed, Five Star’s founder, Mark Hulme, and President and CEO, Ed Delgado, will remain with the company indefinitely, and no investment banking firm was involved with the transaction.“As we focus on the growth of Five Star, we remain committed to providing best-in-class service.” President & CEO Ed Delgado said. “This partnership is the perfect pairing towards supporting our mission.”Building upon the diverse platform The Five Star Institute represents in the mortgage servicing space, Calidant will actively be seeking add-on investment opportunities within, tangential to, and outside of that segment, and will be working closely with its management team to identify opportunities for organic expansion initiatives toward driving accelerated growth.In a joint statement, Calidant’s principals Drew Bagot, David Lai, and Court Alley noted, “Five Star’s exemplary management team, critical role in the industry, and focus on a countercyclical business segment made it a compelling opportunity for us to pursue. We see incredible opportunities for growth adjacent to and beyond the mortgage industry. We are very fortunate to be able to call Mark and Ed partners, and are honored to be a part of the bright future ahead for The Five Star Institute.” Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago 2018-06-07 Kristina Brewer Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more

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Ocwen Files New Fraud Claims Against FIS

first_img About Author: Radhika Ojha February 11, 2019 3,301 Views Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Tagged with: California Department of Business Oversight Fidelity National FIS loans mortgage Ocwen 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 in Daily Dose, Featured, News, Servicing Share Save 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. Servicers Navigate the Post-Pandemic World 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago California Department of Business Oversight Fidelity National FIS loans mortgage Ocwen 2019-02-11 Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Ocwen Files New Fraud Claims Against FIS Ocwen Files New Fraud Claims Against FIS Subscribe Previous: Making the Foreclosure Process More Efficient Next: The Most Unaffordable Housing Market Is … The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago In 2017, Ocwen Financial Corporation had filed a lawsuit in the California Superior Court alleging that Fidelity Information Services LLC  (FIS) had inflated its monthly rate and charged Ocwen for a variety of expenses while serving as its monitor for a 2015 mortgage servicing settlement case for the California Department of Business Oversight (DBO).Now, the servicer has filed an amended complaint that includes new fraud claims and also adds Fidelity National Information Services Inc, the parent company of FIS, as a defendant to the lawsuit after FIS produced documents showing that Fidelity National not only knew about the fraud but facilitated it in order to “boost” revenue. In this 59-page amended complaint, Ocwen said that Fidelity National benefitted from the additional revenue that FIS procured by fraud through its ownership of FIS.”Since Ocwen’s original filing in May 2017, discovery, in this case, has established that Fidelity Information Services’ (FIS) misconduct was much worse and more pervasive than Ocwen ever imagined.  Our amended complaint adds new fraud claims and names FIS’s parent company, publicly-traded Fidelity National Information Services (Fidelity National), as a defendant,” John Lovallo, Ocwen’s spokesperson told DS News. “Fidelity National not only knew about the fraud, but facilitated it to increase their financial performance. Ocwen will continue to vigorously pursue all remedies stemming from FIS’s fraudulent and abusive billing scheme to hold FIS and Fidelity National fully accountable for their actions.”According to the new complaint that was filed by Ocwen with the California Superior Court recently, though FIS had told the DBO that it would review 50,000 loan files over a two-year engagement, it utilized the $44.8 million charged for the audit in 11 months while reviewing less than 50,000 loan files and then asking for an additional sum to re-work on those files.Giving further proof to its original complaint of inflated billing by citing internal FIS documents, the new complaint alleged that “FIS did not have any of the staff, technology, or state/fed resources as represented to the DBO.” The complaint, citing an FIS executive, states that when FIS made these statements and were awarded the project, the company did not have any of these things in place.Additionally, the FIS executive allegedly said that the company had no checklists. “There were instead a limited number of generic . . . items . . . and no research materials or resources that were state-specific at all for California.”  And, “No technology tool existed for mortgage loan servicing review and examinations,” Ocwen said in its fresh complaint.The original lawsuit had claimed that whenever Ocwen questioned the legitimacy of FIS’ invoices or “confronted the company about their increasing enormity, FIS reiterated its misrepresentations that the hours and expenses reflected on the invoices were legitimately worked and incurred.”However, the new complaint cites that FIS fraudulently billed Ocwen for extensive re-work resulting in “massive work and time charges that had zero value.” The complaint, which cites written admissions by FIS senior managers says that FIS hid both the original faulty work and the subsequent re-work and charged Ocwen for both.The complaint documents admissions from FIS executives that the company lied to the DBO about its “purported Ocwen findings and its billing practices.Click here to read more about this case.  Print This Post Demand Propels Home Prices Upward 2 days agolast_img read more

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Rent Growth Hits 10-Month High

first_img The Best Markets For Residential Property Investors 2 days ago March 15, 2019 1,228 Views in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago According to the February Zillow Real Estate Market Report, rent prices grew at their fastest rate in 10 months in February, reaching 2.4 percent year-over-year appreciation. However, while rent price growth increased, national home value appreciation sagged to its lowest level since December 2017. The report found that the U.S. median monthly rent was $1,472 in February, recording an increase from $1,438 a year earlier. This translates to more than $400 in additional yearly expenses for the typical renter. Zillow noted that rents have steadily recovered since a slowdown in the fall that saw the first annual price decreases in more than six years. Data on the annual rent growth reflected an acceleration from January rates in most large housing markets, with the biggest jumps coming in Portland—a turnaround after six straight months of annual rent declines from July through December—and Indianapolis.Orlando and Pittsburgh were the only two large housing markets where rent growth declined. Despite that slowdown, both areas experienced higher-than-average growth, with Orlando rents growing at a faster pace compared to any other large metro area (7.0 percent). Addressing Amazon’s HQ2 withdrawal from Long Island City, the report indicated that New York renters are yet to feel the effect. New York rent prices along with those in Washington, D.C., and Nashville—two markets where Amazon still intends to build large office spaces—have largely followed national trends since the November announcement, Zillow pointed out. “The rental market spent part of last year catching its breath after several years of breakneck growth,” said Jeff Tucker, Economist at Zillow. “Landlords are now coming to terms with the fact that rent cannot grow faster than income forever, and after that short correction we can expect a much more vanilla, slow-growth market going forward. As we enter the 2020s, the demand for rentals is projected to fall as many millennials move on to homeownership,” he added. The median U.S. home value increased by 7.2 percent increase from a year earlier with a  cooldown mostly felt in San Jose, California; and San Francisco. U.S. for-sale home inventory grew 1 percent year-over-year, an increase of 16,137 homes. Inventory picked up the most in San Jose, Seattle, and Los Angeles, further signaling a cooldown from the frenetic pace of the past year in major West Coast markets. Zillow stated that Mortgage rates listed were mostly flat in February. Rates ended February at 4.16 percent, down one basis point from the start of the month. Click here to read the full report. The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Home Values Appreciation Jeff Tucker rent growth Zillow About Author: Donna Joseph Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Home Values Appreciation Jeff Tucker rent growth Zillow 2019-03-15 Donna Joseph Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Brexit’s Far Reaching Impact on U.S. Housing Market Next: Breached: How the Mortgage Industry Can Implement Stronger Cybersecurity Share Save Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] The Best Markets For Residential Property Investors 2 days ago  Print This Post Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Rent Growth Hits 10-Month High Rent Growth Hits 10-Month High Demand Propels Home Prices Upward 2 days agolast_img read more

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Fannie Mae Securities Update: A Billion-Dollar Offering

first_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Counsel’s Corner: Implementing Technology and Compliance Next: Industry Reacts to Fed’s Latest Cut to Interest Rates Fannie Mae recently announced the winning bidder for its sixteenth Community Impact Pool of non-performing loans. The transaction is expected to close on December 17, 2019 and includes approximately 83 loans totaling $19.1 million in unpaid principal balance (UPB); the loans are geographically focused in the Miami, Florida area. The winning bidder was Matawin Ventures XXIX, LLC (Tourmalet Advisors).The transaction included just one loan pool comprised of 83 loans with an aggregate unpaid principal balance (UPB) of $19,084,409; with an average loan size of $229,933; weighted average note rate of 4.18%; weighted average delinquency of 29 months; and weighted average broker’s price opinion loan-to-value ratio of 87% weighted by UPB.Additionally, the GSE announced that it has priced a $998 million Connecticut Avenue Securities note offering. The offering, CAS Series 2019-R07, is designed to share credit risk on its single-family conventional guaranty book of business.”“We are pleased to successfully bring our seventh CAS REMIC transaction to market this year,” said Laurel Davis, VP of Credit Risk Transfer, Fannie Mae. “Subject to market conditions, we plan to return to market in late November with a new series of CAS notes referencing loans originated under Fannie Mae’s Refi Plus and HARP initiative, as part of ongoing capital management efforts. This will be our final transaction of the year.”The reference pool for CAS Series 2019-R07 consists of approximately 102,000 single-family mortgage loans with an outstanding UPB of approximately $26.6 billion. The majority of these loans were acquired from April through June 2019, and are fixed-rate, generally 30-year term, fully amortizing mortgages.Potential buyers can register for ongoing announcements or training, and find more information on Fannie Mae’s sales of Community Impact Pools of non-performing loans and on the Federal Housing Finance Agency’s guidelines for these sales, on the company’s Whole Loans Sales’ page. Data Provider Black Knight to Acquire Top of Mind 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Related Articles Demand Propels Home Prices Upward 2 days ago Tagged with: Fannie Mae Non-Performing Loan UPB Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Share Save Fannie Mae Securities Update: A Billion-Dollar Offering Servicers Navigate the Post-Pandemic World 2 days agocenter_img October 29, 2019 2,298 Views The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Fannie Mae Securities Update: A Billion-Dollar Offering Fannie Mae Non-Performing Loan UPB 2019-10-29 Seth Welborn  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribelast_img read more

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How Fannie Mae’s Connecticut Avenue Offerings Cut Credit Risk

first_img Demand Propels Home Prices Upward 1 day ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Share Save Previous: The Industry Pulse: New Managing Director at SitusAMC Next: Home Values’ Multi-Trillion-Dollar Post-Recession Rise January 17, 2020 2,235 Views Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago CAS Credit Risk Fannie Mae Securities 2020-01-17 Seth Welborn Tagged with: CAS Credit Risk Fannie Mae Securities Home / Daily Dose / How Fannie Mae’s Connecticut Avenue Offerings Cut Credit Risk Demand Propels Home Prices Upward 1 day agocenter_img Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Fannie Mae has announced the pricing of its first Connecticut Avenue Securities (CAS) REMIC transaction of the year, Series 2020-R01. The $1.03 billion note offering is designed to share credit risk on its single-family conventional guaranty book of business.According to Fannie Mae, the CAS issuer strategy works to build program in a sustainable way to promote liquidity. Similiarly, the GSEs are looking to expand liquidity through the Uniform Mortgage-Backed Security (UMBS).”As we enter the seventh year of the CAS program, we are pleased to see the growth, stability, and liquidity of this market supported by a deep and diverse investor base,” said Laurel Davis, VP of Credit Risk Transfer, Fannie Mae. “Our single-family credit risk transfer programs recently crossed a significant milestone, transferring a portion of credit risk on over $2 trillion in underlying loans since 2013. Subject to market conditions, we plan to return to market in mid-February with a high-LTV CAS deal.”The reference pool for CAS Series 2020-R01 consists of approximately 105,000 single-family mortgage loans with an outstanding unpaid principal balance of approximately $29 billion. The reference pool includes one group of loans comprised of collateral with loan-to-value ratios of 60.01% to 80.00%, the majority of which were acquired from June through August 2019. Fannie Mae will retain a portion of the 1M-1, 1M-2, and 1B-1 tranches in order to align its interests with investors throughout the life of the deal, and will retain the full 1B-2H first loss tranche.Earlier this month, Fannie Mae received upgraded designations for the 2019 filing year from the National Association of Insurance Commissioners (NAIC). Four CAS M-2 bonds were upgraded to an NAIC 1 designation and two M-2 bonds were upgraded to an NAIC 2 designation.The CAS bonds which received upgraded NAIC Designations in the 2019 filing year are listed here. CAS REMIC transactions are issued out of a bankruptcy remote trust, rather than as direct debt of Fannie Mae.Fannie Mae issued the first REMIC structure for Connecticut Avenue Securities in November 2018. Renee Schultz, SVP of Capital Markets at Fannie Mae, stated that it “was an important transaction for a number of different reasons.””One, for us, it helped align the accounting treatment, the recognition of the loss and the benefit. Also, it opened up the investor base. ” How Fannie Mae’s Connecticut Avenue Offerings Cut Credit Risk The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Secondary Market Subscribelast_img read more

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