Welcome to the New DSNews.com

first_img About Author: Ed Delgado Servicers Navigate the Post-Pandemic World 2 days ago Welcome to the New DSNews.com Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Related Articles Previous: DS News Webcast: Monday 1/20/2014 Next: California Home Sales Abate to Close Out Year Home / Commentary / Welcome to the New DSNews.com Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Ed Delgado is President and CEO of the Five Star Institute, a leading mortgage banking association providing education and strategic services to the U.S. residential mortgage market. During his 25-year career, Delgado has held executive positions at Wells Fargo and Freddie Mac. While at Wells Fargo, Delgado played an integral role as a key representative to the U.S. Department of the Treasury, supporting the Bush and Obama administrations’ efforts to develop mortgage solutions designed to prevent residential foreclosures in the U.S. Delgado was elected Chairman of the Office of the Comptroller of Currency Advisory Council, an independent working group, and is a current Board Member at Operation Homefront, a national 501(c)(3) nonprofit whose mission is to provide valued programs and aid to U.S. military veterans. A lot has changed in past last five years.This industry has overcome some tough times, and so have the people who make it great. The new reality is one of adaptation and perseverance in the face of the unknowable for professionals across the mortgage banking and servicing industry.Like I said, a lot has changed.So have we.Allow me to be the first to welcome you to the new, streamlined, optimized DSNews.com. Your homepage for everything newsworthy in servicing.At DSNews.com, DS News magazine, and their parent company, The Five Star Institute, we work to equip you with unparalleled market intelligence, expert commentary, and late-breaking information critical to your continued success.In addition to all the content you’ve come accustomed to, we’ve added brand new features and better ways to connect with you with professionals and leaders from across the industry, with:- Community Forums, providing readers and contributors a platform to share thoughts, concerns, opinions, as well as ask questions and seek solutions collaborative, informative, and entertaining environment- Expanded Daily Dose features, delivering more timely and relevant content to your inbox in a simple, informative format- Polls, stats, comments, webcasts and podcasts- In-depth print features directly from the pages of DS News Magazine- Expert commentaries, strategies and future outlooks from the industry’s foremost thought leadersFinally, I encourage you to take a quick moment to create an account with us, allowing you to comment and partake in conversations in the forums.We want you to feel at home on DSNews.com and as we open our doors anew, and we welcome your feedback and thoughts in our continuous efforts to serve you better.Welcome to the new DSNews.com, your homepage for everything in servicing.Ed DelgadoPresident and CEOThe Five Star Institute Demand Propels Home Prices Upward 2 days ago 2014-01-20 Ed Delgado The Week Ahead: Nearing the Forbearance Exit 2 days ago January 20, 2014 695 Views Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Is Rise in Forbearance Volume Cause for Concern? 2 days ago in Commentary, Featured Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

Freddie Mac Announces Second Structured Credit Risk Offering of 2015

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Subscribe 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. Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac Announces Second Structured Credit Risk Offering of 2015 in Daily Dose, Featured, Government, News Previous: CFPB Now Gives Consumers Opportunity to Publicly Share Complaint Narratives Next: Counsel’s Corner: Examining FHFA and Nomura Strategies in MBS Trial Freddie Mac announced on Thursday its intention to sell a Structured Agency Credit Risk (STACR) debt note offering worth $725 million, pending conditions of the market.The STACR offering announced Thursday is the GSE’s second this year and 11th overall. Freddie Mac began the STACR program in the second half of 2013 as part of the Enterprise’s goal of reducing risk to taxpayers by increasing private capital’s role in the mortgage market.Freddie Mac has laid off a substantial portion of credit risk for more than $205 billion in unpaid balances on single-family mortgages through STACR transactions, according to the GSE. In a public speech earlier this month, Mel Watt, Director of Freddie Mac’s conservator, the Federal Housing Finance Agency, said that 2014 was a “breakthrough year for the Enterprises’ single-family credit risk transfer program.”STACR Series 2015-HQ1  features a reference pool of recently-originated single-family mortgage loans with LTVs ranging from 80 to 95 percent. Those loans have an unpaid principal balance totaling more than $16.5 billion. Freddie Mac is issuing 150 basis points of first loss and rating the M-3 bond with STACR Series 2015-HQ1. Freddie Mac holds the senior loss risk in the reference pool; for Class M-1, M-2, and M-3 and the first loss Class B tranche, Freddie Mac holds a portion of the risk. Credit Suisse and Bank of America Merrill Lynch will serve as co-lead managers and bookrunners for the transaction.”We expect routine sales of the higher LTV benchmark HQ series to facilitate more transparency and liquidity in the credit risk transfer market,” said Mike Reynolds, Freddie Mac VP of Credit Risk Transfer.Freddie Mac and fellow GSE Fannie Mae were taken under conservatorship of the FHFA in September 2008, and both received a combined total of $188 billion in bailout money from taxpayers. Both GSEs returned to profitability in 2012, although they saw a sharp decline in profits for 2014 and the FHFA’s Inspector General issued a report earlier this week saying the continued profitability of the GSEs is not assured. March 19, 2015 807 Views Credit Risk FHFA Freddie Mac STACR 2015-03-19 Brian Honeacenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Freddie Mac Announces Second Structured Credit Risk Offering of 2015 The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Credit Risk FHFA Freddie Mac STACR Sign up for DS News Daily Related Articleslast_img read more

Clinton’s Housing Initiative Includes ‘Fair Shot at Homeownership’ for Everyone

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Clinton’s Housing Initiative Includes ‘Fair Shot at Homeownership’ for Everyone The Week Ahead: Nearing the Forbearance Exit 2 days ago February 16, 2016 5,446 Views Tagged with: Hillary Clinton Homeownership Housing Reform Presidential Campaign Hillary ClintonAs the 2016 presidential election grows closer and candidates’ campaigns pick up speed, there is one topic that has been considered to be a taboo among those in the race to the White House.Housing policy has been a muted subject among all of the presidential candidates throughout their speeches, debates, and plans for the U.S., but one presidential hopeful has finally broke the silence.After months of hearing about Wall Street reforms, former Secretary of State and Democratic candidate Hillary Clinton released her “Breaking Every Barrier Agenda,” which outlines intentions to revitalize the economy and includes a substantial housing investment.According to a factsheet on Clinton’s campaign site, the goal of the agenda is to revitalize the economy in communities that have been left out and left behind, provide every child in America a world-class education, dismantle the school-to-prison pipeline, tackle disparities in health and nutrition, and fight for environmental justice. In addition, the initiative will also create good-paying jobs, rebuild crumbling infrastructure, and connect housing to opportunity in communities that are being left out and left behind.Interestingly, the agenda, or the $125 billion Economic Revitalization Initiative, will be paid for by a tax on Wall Street, which Clinton’s campaign believes will ensure that the “major financial institutions that contributed to the Great Recession are doing their part in bringing back the communities it hurt the most.”A $25 billion portion of the initiative will be dedicated to “lifting more families into sustainable homeownership and connecting housing to opportunity,” the factsheet stated.”Homeownership is about more than just owning a home,” Clinton’s campaign explained. “It is about putting roots down in a community with better schools, safer streets and good jobs. And it is about building wealth, as homeowners build equity in their home one mortgage payment at a time. But this opportunity is increasingly out of reach for too many families, particularly families of color…We must make sure that everyone has a fair shot at homeownership.” The campaign noted that 42 percent of black households and 47 percent of Latino households own a home, white homeownership sits at 72 percent.Clinton’s campaign believes the best way to reverse this disproportionate trend is not to lower credit standards, but lift more families into homeownership by:Supporting families as they save for sustainable homeownership. Clinton will support initiatives to match up to $10,000 in savings for a down payment for those who earn less than area median income. She will also reduce barriers to lending in underserved communities, support housing counseling programs, and police abuse and discrimination in the mortgage market.Building more affordable rental housing near good jobs and good schools.Clinton will increase support for affordable rental housing in the areas that need it most and encourage communities to implement land use strategies that make it easier to build affordable rental housing near good jobs.Overcoming pockets of distress. Clinton will provide the resources necessary to overcome blight, giving communities a chance to rebuild and renew with new businesses, new homeowners, and new hope. And she will connect housing support in high-poverty neighborhoods to economic opportunity.Ed Brady, Chairman of the National Association of Home Builders and a home builder and developer from Bloomington, Illinois applauded Clinton for “recognizing the significant role that housing plays in our local communities and economy and being one of the first presidential candidates to present a housing and community development plan that will help boost homeownership, rental housing and employment opportunities for the American people.”“Proposals such as providing a match for down payment savings, emphasizing homeownership counseling and taking steps to improve credit availability for qualified borrowers are all needed steps to boost homeownership. Secretary Clinton also recognizes the acute need to bolster the supply of affordable rental housing by proposing to increase the supply of Low Income Housing Tax Credits and remove local barriers to producing such housing. She also highlighted the importance of job training and apprenticeships as a path to economic opportunity, which the housing sector has a tremendous capacity to provide.Click here to read Hillary Clinton’s complete agenda. in Daily Dose, Featured, Government, News Sign up for DS News Daily Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Subscribe Share Save Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Clinton’s Housing Initiative Includes ‘Fair Shot at Homeownership’ for Everyone Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Xhevrije West Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago “Homeownership is about more than just owning a home.”Hillary Clinton Previous: Minneapolis Fed: Dodd-Frank Was Not Enough to End Too Big to Fail Next: DS News Webcast: Wednesday 2/17/2016 Servicers Navigate the Post-Pandemic World 2 days ago Hillary Clinton Homeownership Housing Reform Presidential Campaign 2016-02-16 Brian Honealast_img read more

President-Elect Trump and Financial Transition Team Gather With Business Leaders in NYC

first_img Demand Propels Home Prices Upward 2 days ago About Author: Rachel Williams  Print This Post in Daily Dose, Featured, News President-Elect Trump and Financial Transition Team Gather With Business Leaders in NYC At a breakfast event hosted by the administration’s Transition Finance Committee in New York City on Wednesday, President-elect Donald J. Trump addressed an audience made up of a number of his cabinet appointees, transition team members, and prominent business leaders.The two-hour gathering, which was held at Cipriani 42nd Street, was by invitation only. Steven Mnuchin, Trump’s Treasury Secretary appointee, gave the opening remarks.Mnuchin, who was the National Finance Chairman for Trump’s campaign, is a hedge fund manager and former Goldman Sachs Partner. If the Senate confirms Mnuchin, he could take his position as the 77th Secretary of the U.S. Department of the Treasury as early as January.Mnuchin went on record early after his nomination that he would seek to address the roles Fannie Mae and Freddie Mac hold in the marketplace, commenting that privatizing the GSEs is “right up there on the top-10 list of things we’re going to get done.”Reince Preibus, former Republican National Committee Chairman and Trump’s new Chief of Staff, followed Mnuchin and introduced Trump.During his remarks, Trump recounted his journey to the presidency and the history-making election night that surprised many Americans, including some Trump supporters. “[W]e ended up with 306 electoral votes, which is a big, big number. That’s a bigger number than anyone thought anybody could get . . . . So we ended up with 306, we ended up with an incredible victory, and now the work begins,” said Trump. “We’ve appointed some tremendous people like Steve Mnuchin and others in this room to different posts, and we’re going to do a great job. The work really does begin,” he continued.Throughout his campaign, Trump outlined that he would seek to decrease the scope of regulation on business, a point he reiterated during Wednesday’s Transition Finance Committee event. In order to encourage global corporations to move more of their operations to America, Trump said, “We’re going to be lowering taxes from 35 percent down to 15 percent. We’re going to be cutting regulations to a level you’ve never seen before.”Decreasing business regulations is a point on which Mnuchin and Trump agree. Upon his appointment, Mnuchin outlined a number of his initiatives on CNBC’s Squawk Box, one of which is rolling back the Dodd-Frank Wall Street Reform and Consumer Protection Act.Five Star Institute President and CEO Ed Delgado, who was in attendance for the event, said, “It was honor to attend this important gathering. It’s encouraging to see that the President-elect has put people in place who will affect positive change in the financial sector. Mr. Trump is accurate in his assessment of the state of financial over regulation, and we look forward to working with his new administration to advocate on behalf of the mortgage industry and the American homeowner.” Prior to joining the Five Star, Delgado played a role in working closely with officials from the George W. Bush administration and the U.S. Department of the Treasury under the direction of then Secretary Henry Paulson to promote housing policy and programs designed to prevent foreclosure.Tim Rood, Chairman and Co-Founder of Washington, D.C.-based business advisory firm The Collingwood Group, was also in attendance at the meeting. “Even a cynic would have a hard time walking away from that event not feeling that the country was better poised for growth and prosperity than it is today. The message of lower taxes, less regulation, and less government waste resonated with me and the crowd in a truly sincere way,” he commented to DS News.Other invited guests included Wilbur Ross (Trump’s Commerce Secretary pick), Ray Washburne (leader on the transition team for Commerce), Anthony Scaramucci (financier and host of Wall Street Week on Fox Business Network), Lewis M. Eisenberg (financier and former Chairman of the Port Authority of New York and New Jersey during 9/11), and Darlene Jordan (Executive Director of the nonprofit Gerald R. Jordan Foundation and member of Trump’s Economic Advisory Council).Wednesday’s event gives the industry a glimpse into Trump’s initial plans in office and how it will effect the mortgage industry, but an additional piece of the puzzle will be Dr. Ben Carson who, as MReport first reported, Trump appointed to HUD Secretary. Though he does not have direct experience in housing, in 2015, Carson wrote an editorial for the Washington Times criticizing HUD’s Affirmatively Further Fair Housing rule, which he said was “designed to ‘desegregate’ housing by withholding funds from communities that fail to demonstrate their projects ‘affirmatively further’ fair housing.”Commenting on Carson’s nomination, Delgado said, “Hailing from Detroit, Dr. Carson is all too familiar with the housing issues related to the inner city. It is our hope that as HUD Secretary, he puts forth policies and programs intended to rebuild markets hardest hit by the Great Recession.”The Collingwood Group Vice Chairman and Co-Founder Brian Montgomery expressed his sentiments to DS News about Dr. Carson as HUD Secretary-nominee: “I am excited about Dr. Carson as Secretary-nominee of HUD for several reasons. For one, he obviously has the full support of President-elect Trump who was quite vocal about Dr. Carson serving as HUD Secretary. But most importantly, Dr. Carson is a household name. You probably have to go back to Jack Kemp or Henry Cisneros to find a HUD Secretary who is this well known. I think that high visibility will serve Dr. Carson well and allow him a solid platform to elevate housing as an issue in need of a national focus.”While the full roll out of Trump’s policies will become clearer as we approach the January 20th inauguration date, one thing is certain: Trump’s allusion to the fact that the work is just now beginning couldn’t ring more true.Editor’s Note: The Five Star Institute is the parent company of the DS News and DSNews.com. 2016-12-07 Kendall Baer Demand Propels Home Prices Upward 2 days ago Previous: Fannie Mae’s Home Purchase Sentiment Index Falls Next: NTC Announces Results of Internal Analysis Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago December 7, 2016 1,681 Views Home / Daily Dose / President-Elect Trump and Financial Transition Team Gather With Business Leaders in NYC Sign up for DS News Daily Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe 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] last_img read more

Women in Housing Leadership Awards Finalists Announced

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Women in Housing Leadership Awards Finalists Announced Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News Five Star HOUSING leaders women Women in Housing Awards 2018-08-05 Radhika Ojha Home / Daily Dose / Women in Housing Leadership Awards Finalists Announced Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Radhika Ojha Demand Propels Home Prices Upward 2 days ago Share Save Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Tagged with: Five Star HOUSING leaders women Women in Housing Awards 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. Previous: Michael Kuentz Named CEO of Lenders One Next: Goldman Sachs Moves Forward on Consumer Relief Obligation Governmental Measures Target Expanded Access to Affordable Housing 2 days ago On September 18, the mortgage and housing industry’s women business leaders will be recognized and honored at The Keystones—the 2018 Women in Housing Leadership Awards. Hosted during the 15th annual Five Star Conference and Expo, the Keystones will be presented in five categories. The finalists for each category of these awards were chosen from a list of hundreds of nominations received from across the industry. The Rising Business Leader Award recognizes young women leaders who, while still early in their careers, have demonstrated an outstanding capability to lead and drive progress. The finalists for this category include, Jennifer Bross, AVP, Client Relations, ServiceLink; Jennifer Carroll, Senior Foreclosure Specialist, Fay Servicing; Cara Hardy, VP, Loss Mitigation and Bankruptcy, Statebridge Company; Elizabeth Kameen, Project Manager, Fannie Mae; and Courtney Thompson, Director, Default Oversight, and Operations, Flagstar Bank.Finalists for the Cultural Leader Award include Charmaine Brown, Diversity Director, Office of Diversity and Inclusion, Fannie Mae; Jan Duke, COO, a360 Firm Solutions; Riham El-Lakany, VP, and CMO, Freddie Mac; Yvette Gilmore, VP, Single-Family Servicer Performance, Freddie Mac; and Ann Thorn, EVP, Mortgage and Vehicle Servicing, Bank of America. This award honors women who have successfully fostered forward-thinking company cultures and workplaces through corporate strategies and initiatives.The finalists for the Community Leadership Award have demonstrated tremendous leadership and cooperation in local communities. Finalists in this category include, Timika Cole, SVP, U.S. Bank Home Mortgage; Dr. Lynn Fisher, Co-Director, Housing Center, American Enterprise Institute; Miriam Moore, Division President, ServiceLink; Rullah Price, SVP, Community Outreach Director, Wells Fargo Home Mortgage; and Cheryl Travis-Johnson, COO, VRM Mortgage Services.The Diversity & Inclusion Award celebrates women who have helped lead the charge in developing diverse workplace cultures by fostering welcoming environments for people of every color, creed, and gender. The finalists for this award include Susan Johnson, CMO, SunTrust; Mary Mbiya, Director, Diversity & Inclusion, Flagstar Bank; Lola Oyewole, Director, Human Resources and Chief Diversity Officer, Ocwen Financial Corporation; Trina Scott, Director, Diversity & Inclusion, Quicken Loans; and Karyn Twaronite, Partner, EY Global Diversity & Inclusiveness Officer.Named in honor of the late industry icon whose distinguished career left an indelible impact on housing, the Laurie A. Maggiano Legacy Award recognizes women, who have powerfully influenced the industry and homeownership nationwide. Industry veterans who have been chosen as finalists for this award include, Marcia Davies, COO, Mortgage Bankers Association; Dana Dillard, EVP, Corporate Social Responsibility, Mr. Cooper; Sharron P.A. Levine, Director, Office of Minority and Women Inclusion, Federal Housing Finance Agency; Jocelyn Martin-Leano, EVP, Chief Servicing Officer, Rushmore Loan Management Services; and Caroline Reaves, CEO, Mortgage Contracting Services.The collective accomplishments of all the finalists will be honored during the ceremony. An independent panel will select one individual from the five finalists in each award category to receive the award, which will be announced live on stage during the ceremony. The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago August 5, 2018 2,330 Views Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articleslast_img read more

Rushmore’s Rating Surges on Servicing Practices

first_img Demand Propels Home Prices Upward 2 days ago Assessment Foreclosure Loss Mitigation Moody’s Moody’s Investor Service Rushmore Rushmore Loan Management Services Servicing 2018-08-24 Seth Welborn  Print This Post 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 1Save Recently, Rushmore Loan Management Services (Rushmore) achieved an SQ assessment of SQ3+ from Moody’s Investor Service. Moody’s rating is a result of the servicer’s above average collection abilities, loss mitigation results, and foreclosure timelines.Moody’s noted that Rushmore enhanced its collection abilities by improving its overall customer experience. Rushmore separated its customer service and collections call center groups in order to better focus on the customer and implemented workforce management software to improve call center efficiency, Moody’s analysis of the servicer noted.Rushmore’s prime loss mitigation abilities were considered above average as well. This was due in part to the enhancements made to the company’s loss mitigation system during the review period. Rushmore’s special servicing foreclosure and REO timeline were also given a good rating by Moody’s, due to its improved pre-foreclosure process, which features auto document retrieval functions, which Moody’s notes may shorten foreclosure timelines.Additionally, the ratings agency upgraded Rushmore’s servicing stability component assessment from below average to average. Investment in technology as well as an experienced management team, and a strong method of monitoring performance all contributed to an overall stronger servicing segment, according to Moody’s analysis.Rushmore is an originator, servicer, and special servicer of mortgage loans with offices in Irvine, California; Dallas, Texas; and San Juan, Puerto Rico. Rushmore’s residential mortgage service portfolio contained 166,925 loans with an unpaid principal balance of around $29.5 billion as of December 2017.Rushmore’s previous SQ assessment, on August 15, 2016, resulted in an SQ3 rating as a special servicer. The “+” in Rushmore’s current rating indicates positive relative servicing quality within a particular category.Moody’s SQ assessments represent its view of a servicer’s ability to prevent or mitigate asset pool losses across changing markets. The assessment scale ranges from SQ1 (strong) to SQ5 (weak). Where appropriate, a “+” or “-” modifier will be appended to the relevant assessment to indicate a servicer’s relative servicing quality within a particular category.For more information, visit the complete assessment from Moody’s Investor Service here. About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago August 24, 2018 3,122 Views Tagged with: Assessment Foreclosure Loss Mitigation Moody’s Moody’s Investor Service Rushmore Rushmore Loan Management Services Servicing Previous: Looking into the Housing Market in 2019 Next: RoundPoint Mortgage Makes the Inc. 5000 Listcenter_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 The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Rushmore’s Rating Surges on Servicing Practices Home / Daily Dose / Rushmore’s Rating Surges on Servicing Practices Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Servicing Sign up for DS News Daily Subscribelast_img read more

Easing Homebuyer Burdens

first_imgHome / Daily Dose / Easing Homebuyer Burdens  Print This Post Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2019-04-12 Seth Welborn Previous: Wells Fargo, JPMorgan Chase Weigh In on Bank Performance Next: Citadel Servicing Corporation Releases Q1 Report 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. About Author: Seth Welborn Share Save Subscribe April 12, 2019 1,056 Views Demand Propels Home Prices Upward 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 Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Easing Homebuyer Burdens The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News With the standard tax deduction raised by almost double and deductions on real estate taxes more limited following the tax code changes, homeowners probably won’t worry as much about their taxes when buying a home. In this video spotlight, realtor.com Chief Economist Danielle Hale discusses how the 2019 tax code will impact homebuying decisions.”There are a coupe of other changes that are impactful, but the bottom line is the same,” said Hale. “Fewer people will itemize on their tax deductions, which means taxes won’t be a very important factor for most homebuyers when they’re thinking about whether to rent or own.”It doesn’t mean people will stop wanting to own a home, taxes are just one reason people might decide to own a home,” Hale continued. “But it does mean for most people, taxes aren’t going to be an important deciding factor like they maybe were before.”While taxes may not be on homebuyer’s radar, following the recent U.S. Bureau of Labor Statistics Employment Situation Summary, Hale commented on how job growth as well as mortgage rates have impacted purchasing power.”The combination of earnings growth of 3.2 percent and low mortgage rates has boosted home buyers’ purchasing power in the face of rising home prices, but affordability remains a challenge, especially for entry-level buyers,” said Hale. “Still, as buyers grapple with their budgets, job and earnings growth and lower mortgage rates suggest sufficient demand for sellers this spring.”Volume 90%Press shift question mark to access a list of keyboard shortcutsKeyboard ShortcutsEnabledDisabledPlay/PauseSPACEIncrease Volume↑Decrease Volume↓Seek Forward→Seek Backward←Captions On/OffcFullscreen/Exit FullscreenfMute/UnmutemSeek %0-9Auto1080p720p406p270p180pLive00:0001:1701:17  Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Measuring Millennial Housing Debt

first_imgHome / Daily Dose / Measuring Millennial Housing Debt Tagged with: debt Millennials The Best Markets For Residential Property Investors 2 days ago Millennials are becoming more reliant on debt, according to a recent report from Experian. As a result, Millennials, aged between 23 and 38, are likely to hold more debt than their peers. Millennials held an average of $222,211 in mortgage debt in Q1 2019, Experian states, a 5% increase from Q1 2018 and one of the largest mortgage debt increases seen by any generation in the past year. Millennial mortgage balances grew an average of 5%, which was the second-highest growth rate behind members of Generation Z, who saw their average balances increase by 15% since Q1 2018. As debt balances increased, Millennials have begun looking into refinancing. According to Ellie Mae, interest rates on 30-year loans saw a drop in interest rates, leading to more refinancing among Millennials. “Savvy millennials looking to lock in lower interest rates on their mortgages have helped drive a surge in refinance activity,” said Joe Tyrrell, COO at Ellie Mae. “While the Federal Reserve’s rate cut doesn’t necessarily mean that rates on mortgages will continue to drop, we’ll be keeping a close eye on its impact on both the refinance and overall mortgage market as we do anticipate that it will affect consumer behavior, including millennials who look to lower their payments.”Additionally, Ellie Mae notes that with an increased investment in technology, time to close has dropped across the board year-over-year. Average time to close on all loans for millennials has dropped two days while average time to close on refinance and purchase loans has dropped four days and one day, respectively.“There is and has been a massive opportunity for lenders to educate potential homeowners on the loan options available to them,” added Tyrrell. “For example, borrowers with lower FICO scores can take advantage of FHA loans to make homeownership a reality, but the overall awareness that this loan type exists needs to increase.” debt Millennials 2019-08-07 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Measuring Millennial Housing Debt Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days agocenter_img Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Seth Welborn in Daily Dose, Featured, Market Studies, News Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save August 7, 2019 1,592 Views Previous: What Do Trade Tensions with China Mean for Housing? Next: Fannie Mae: Consumer Confidence Grows in July 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. Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Freddie Mac Names Michael DeVito New CEO

first_img Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, Journal, News Freddie Mac Names Michael DeVito New CEO Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac Kristy Fercho Mark B. Grier Michael J. DeVito Sara Mathew Wells Fargo 2021-05-26 Eric C. Peck Share Save The Best Markets For Residential Property Investors 2 days ago The board of directors of Freddie Mac has announced that, effective June 1, 2021, Michael J. DeVito will take over as CEO. At that time, Interim CEO Mark B. Grier will resume his duties as a full-time member of Freddie Mac’s board of directors.With more than 30 years of mortgage and financial services experience, DeVito spent more than 23 years at Wells Fargo and Company, serving most recently as EVP/Head of Home Lending, where he was responsible for all aspects of the company’s mortgage and home equity business.“I am delighted to announce that, after an exhaustive search, the board of directors has chosen Michael DeVito as the next CEO of Freddie Mac,” said Sara Mathew, Non-Executive Chair of Freddie Mac’s board of directors. “Michael is a well-regarded leader with proven success in virtually every aspect of the mortgage industry. His background and experience make him an excellent choice to lead Freddie Mac at this time. On behalf of the board of directors, I would also like to thank Mark Grier for his leadership as Interim CEO and we are pleased that he will continue to contribute to the company as a member of the Board.”DeVito retired last July from Wells Fargo after a 23-year stint with the company and replaced by Kristy Fercho as Head of Wells Fargo Home Lending. While at Wells Fargo, DeVito worked across the company’s Home Lending channel, including loan origination, servicing, portfolio management, secondary marketing, and risk. At various points during his tenure, he served as Head of Home Lending Production, Home Lending Servicing, Default Servicing, Loan Workout, Head of Education Financial Services, and Mortgage Retail Underwriting and Operations.“I am honored to lead a mission-driven company with proven success in making home possible for millions of families over the past five decades,” said DeVito. “I thank the board for their confidence, and I look forward to getting to know the people and leaders who make Freddie Mac so successful. Working together, I’m certain we can continue to deliver the liquidity, stability and affordability the housing markets need while enhancing our own safety and soundness.” Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Eric C. Peck Home / Daily Dose / Freddie Mac Names Michael DeVito New CEO Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articlescenter_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Freddie Mac Kristy Fercho Mark B. Grier Michael J. DeVito Sara Mathew Wells Fargo Previous: FHLBank San Francisco Names Tony Wong Chief Banking Officer Next: Zombie-Property Numbers Are Rising 4 days ago 416 Views Governmental Measures Target Expanded Access to Affordable Housing 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 Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more

New ‘Tidiest Town’ signage unveiled in Letterkenny

first_img Nine Til Noon Show – Listen back to Wednesday’s Programme By admin – November 24, 2015 WhatsApp RELATED ARTICLESMORE FROM AUTHOR Twitter Homepage BannerNews Facebook New signage has been officially unveiled to mark Letterkenny’s Tidy Towns success, and welcome tourists to the area.Municipal District Mayor Gerry McMonagle says it’s fitting that Letterkenny now publicises the achievement and uses it as an advantage……….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/11/gerrysigns.wav00:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Previous articleNo-one will stop me cutting my hair, says Poldark’s Aidan TurnerNext articlePringle seeks restoration of full jobseekers’ allowance to under 26’s admin LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Three factors driving Donegal housing market – Robinson center_img Guidelines for reopening of hospitality sector published WhatsApp Pinterest Pinterest Google+ GAA decision not sitting well with Donegal – Mick McGrath Facebook Calls for maternity restrictions to be lifted at LUH Google+ New ‘Tidiest Town’ signage unveiled in Letterkennylast_img read more