Month: May 2021

Fannie Mae Forecasts Economic Growth in 2015 Despite Ending Year On a Low Note

first_imgHome / Daily Dose / Fannie Mae Forecasts Economic Growth in 2015 Despite Ending Year On a Low Note Demand Propels Home Prices Upward 2 days ago Fannie Mae’s Economic & Strategic Research Group predicts in its December 2014 Economic Outlook that the U.S. economy will strengthen heading into 2015 following an up-and-down 2014 that ended on an unspectacular note.The Group is forecasting full-year growth of 2.1 percent for 2014, a full point below 2013’s rate of growth, due to the reverse in the final quarter of some unsustainable forces that boosted the economy in the third quarter. However, the Group is predicting economic growth of 2.7 percent for 2015 based on firming consumer income prospects, rising consumer and business confidence, a broadening housing recovery, and reduced fiscal headwinds.”The December forecast is relatively little changed from the November forecast. We expect a weaker fourth quarter to follow a stronger third quarter, but we don’t see it as a sign of overall weakness,” Fannie Mae chief economist Doug Duncan said. “Although real consumer spending growth has disappointed this year, it appears poised to accelerate in November due to a significant jump in auto sales and a likely pick-up in home heating costs. The decrease in oil prices certainly may support consumer spending over time, particularly now during the holiday shopping season, as well as hold down inflation as a potential benefit to consumption. Based on the stronger consumer story that we expect to see in 2015 relative to 2014, we upgraded our forecast from approximately 2.5 percent growth to 2.7 percent growth for the full year.”Duncan said the housing market is expected to continue its slow rate of growth toward long-term recovery in 2015 coming off a sub-par 2014. He said stronger employment and improvement in household-related income is expected to lead in a boost in housing starts.”As a result, that may help to unfold some of the suppressed household formation numbers and incent builders to meet some of that increased demand,” Duncan said. “For all of 2015, we expect total housing starts to increase by about 22 percent and total home sales to rise approximately 5 percent, with total mortgage originations ticking up slightly to $1.13 trillion.” The Week Ahead: Nearing the Forbearance Exit 2 days ago December 18, 2014 901 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Related Articles Previous: Underwater Borrower Rate Drops Below 17 Percent Next: DS News Webcast: Friday 12/19/2014 Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Tagged with: Fannie Mae Fannie Mae Economic & Strategic Research Group Housing Market U.S. Economy Servicers Navigate the Post-Pandemic World 2 days ago Fannie Mae Forecasts Economic Growth in 2015 Despite Ending Year On a Low Note The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 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. About Author: Brian Honea Fannie Mae Fannie Mae Economic & Strategic Research Group Housing Market U.S. Economy 2014-12-18 Brian Honea  Print This Post Sign up for DS News Daily Share Save Subscribelast_img read more

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National Solutions on a State Level

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / National Solutions on a State Level Previous: Had Enough? Stage is Set for Foreclosure Declines Next: Wells Fargo Faces New Challenges From Regulators 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 community blight Property Preservation SecureView 2016-12-13 Kendall Baer Servicers Navigate the Post-Pandemic World 2 days ago The property preservation industry has taken another huge step toward reducing community blight with the passage of Ohio H.B. 463 in the Ohio State Senate. The bill, which would ban the use of plywood in securing vacant and abandoned properties, passed by a count of 26 to 5 in the Ohio Senate on December 8 after receiving a nearly unanimous favorable vote (95 to 1) in the Ohio House of Representatives on May 11. The bill now needs only the signature of Ohio Governor John Kasich to become law, after which it will take effect in 90 days.Division (A) of Section 2308.031 of Ohio H.B. 463 states, “No person shall use plywood to secure real property that is deemed vacant and abandoned under section 2308.02 of the Revised Code.” Vacant and abandoned properties that contain windows boarded with plywood have often been found to attract vandalism, squatters, and in some cases, violent crime, in addition to contributing to the spread of blight. Stakeholders both in the property preservation industry and in the Ohio State Legislature who have fought for many years to reduce blight in neighborhoods celebrated the passage of H.B. 463. One of those industry stakeholders who has pushed for the passage of anti-blight legislation and worked to create solutions to the spreading of blight is Robert Klein, who founded Safeguard Properties in Ohio in 1990 and currently serves as Chairman of SecureView. Klein has often said that “a vacant property is not like wine. It does not get better with age.”Klein stated, “Ohio’s ban on the use of plywood is the first legislation of its kind and a game-changing, bold statement that will modernize the fight against community blight. The new legislation will benefit the industry by reducing vandalism and allow the on-time conveyance of the properties. It will protect neighborhoods, reduce blight in the community, and maintain the value of homes in the neighborhoods. It is our hope that more states will follow Ohio’s example.”Five Star Institute President and CEO Ed Delgado said, “I applaud the Ohio State Legislature for passing H.B. 463. Vacant and abandoned properties are a crisis of national proportion. Using plywood to secure these homes only creates more problems in many cases, and it adversely affects entire communities. Banning its use will keep properties from appearing vacant, which will reduce the potential for crime and help maintain property values, ultimately making the community a better place to live.”Ohio has long been at the forefront when it comes to innovative solutions to reduce neighborhood blight. Earlier this year, the state passed a “fast track” foreclosure law that would reduce foreclosure timelines in the state from two to three years down to as low as six months.“(H.B. 463) enhances what we did to reduce blight in foreclosed properties,” said Ohio Rep. Cheryl Grossman, who was a co-sponsor of the fast track bill that passed earlier this year. “With the challenges that our police departments are facing and some of the situations they are responding to, it makes a lot of sense they are banning plywood.”The passage of Ohio H.B. 463 was the second major advancement in the property preservation industry in the last two months with regard to banning the use of plywood. In early November at the National Property Preservation Conference, Fannie Mae announced a new allowable promoting the use of polycarbonate clearboard instead of plywood on pre-foreclosure properties, and that starting November 9, all vacant Fannie Mae-owned properties, whether in pre- or post-foreclosure state or REO, were required to use an alternative to plywood to secure vacant homes.Click here to view the complete text for Ohio H.B. 463. in Daily Dose, Featured, News Sign up for DS News Daily 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.  Print This Post The Best Markets For Residential Property Investors 2 days agocenter_img Tagged with: community blight Property Preservation SecureView Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Share Save Related Articles Demand Propels Home Prices Upward 2 days ago National Solutions on a State Level December 13, 2016 1,779 Views About Author: Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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And the Verdict Is …

first_imgHome / Daily Dose / And the Verdict Is … And the Verdict Is … The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Print Features Ethics 2017-08-04 Brianna Gilpin Editors Note: This article was originally featured in the August issue of DS News.Miami, Florida, with its beautiful beaches and mild weather, draws in homebuyers from all over the country—and the globe. Though the sunny state of Florida totaled nearly 46,000 homes sold in 2016, 2008 was a completely different story, marking the state low of 25,900.With an economic recession in full swing, Rashmi Airan was approached by a real estate developer client who saw an opportunity to exploit this declining market.  Rashmi was involved with executing creative transactions which would presumably help set her family up with financial stability.A Series of Bad DecisionsAiran, a former Miami lawyer and first-generation immigrant of Indian parents, always felt the need to exude perfection. After graduating a Kent Scholar with high honors from Columbia Law School, she worked for several law firms and eventually opened her own independent law practice. Airan was the breadwinner of her family, trying to achieve that cultural measure of success, gain status in her community, and assure overall advancement. Airan finally realized and took accountability that she had made a series of bad decisions. She eventually found herself in federal prison, and all she could think was “this can’t be happening.”In mid-October 2007, Airan began dealings with a South Florida real estate client who needed legal assistance in the closing of condos he was selling. She was to be the closing agent, coordinating transactions with the banks and getting approvals. However, an issue arose when the HUD documents didn’t include one detail: the real estate developer was giving money back to buyers as an incentive.The developer was promising rental guarantees to buyers over a specific period of time for a specific amount of money. Ultimately, this affected the loan-to-value ratio and, by only showing what was coming out of the escrow account—not the seller’s money going to the management company then back to the buyer, the government ruled it was a case of bank fraud conspiracy, and Airan was linked.“I assumed that every other developer and every other real estate transaction lawyer was doing something similar— maybe not exactly the same, but something in the same realm of creative transactions—and that somehow made it OK for me to do it,” Airan said. Airan was a solo practitioner and thought the volume of business she was handling would create immediate financial stability for her loved ones. Because of this, according to Airan’s mentor, Kendall Coffey, she rationalized it all rather than question or confirm what was really going on. “What I think Rashmi recognizes is that when those choices were presented to her, she rationalized,” said Coffey, Partner and Founder of Coffey Burlington Law Firm. “She found ways—which smart people can often do, at least in her own mind—to justify the decisions that were made and perhaps at the time the minimization of her responsibility.” The buyers were considered “straw buyers”, meaning they were sought out by a developer through various representatives to use their good credit to get loans. During this time—before the 2008 housing crisis—it was considered a “no-income, no-asset loan.” A person could just say they made $83,000, and the banks would believe them at face value. The buyer didn’t have to prove it; they just had to have good credit. So, when developers found someone willing, they would say, for example, “We’ll pay you $30,000 after the closing if you take out a mortgage in your name.” This is what happened in Airan’s case, which she discovered after indictment.  Everyone from the buyers and sellers to the realtors, brokers, and, of course, Airan benefitted in some way.  Rashmi received the legal and title fees from each closing she handled—but she received nothing more.“I didn’t get any additional money,” Airan said. “The only money I made, which was still significant, was in closing fees.”Pleading GuiltyIn spring of 2011, Rashmi got a knock on her door. It was the FBI. Agents presented documents from 2007 and 2008 and asked her detailed questions without her having a lawyer present. Through this interaction, they gathered enough evidence for a grand jury subpoena that led to Airan’s indictment in April 2014. By August of the same year, Airan changed her plea to guilty and accepted that she was wrong, making her official plea December 19, 2014. There were so many players in the 2008 crisis, and hardly anyone was tried, let alone sentenced, yet there Airan was, awaiting sentencing. As much as Airan was hurt by what happened and felt that others should—and could—be penalized, she says that she would never wish the experience of being away from her children for anyone.Airan says it was hard for her to come to terms with what happened, but she’s done being angry about it.“I’ve had to come to a place of peace because if I am angry about it, it’s just going to create bitterness and negative energy,” Airan said. “I have just forgiven myself and accepted what I did and moved on.”According to Coffey, prison sentences are relatively rare for bank/mortgage fraud cases and Airan’s case could have gone on without prison time.“For those who somehow fell onto the government’s radar—especially attorneys—there were those who went to prison,” Coffey said. “In her case, it was relatively brief, but her many supporters were disappointed. It’s not unheard of. I would describe it as more disappointing than surprising.”By June 16, 2015, Airan was sentenced and surrendered two months later. She was sentenced to 366 days in federal prison with a $19 million judgment against future earnings. According to Airan, this day of surrender was by far the hardest. As she shuffled through the underground tunnel from the Miami courthouse to the federal prison, she donned handcuffs, shackles, and waist chains that solidified just how serious the situation was.“Being processed, getting my DNA tested, stripping, being searched, putting on prison clothing—all of that entire experience was like a surreal, out-of-body experience,” she said. “I was sitting there thinking, ‘I’m a Columbia Law grad. This can’t be happening.’”When Airan finally got to her room, there was not even a mattress on the metal frame. She searched other rooms and beds and finally found a bed roll that she says didn’t even qualify as a mattress. After 10 days, Airan was lucky enough to be transferred to Coleman, the only women’s minimum-security federal working camp in Florida. Though the transfer was a hard and demeaning process, she says she couldn’t help but feel blessed in a weird way. “I’m sitting in handcuffs and shackles on a bus driving between Miami Federal Detention Center to Federal Coleman Complex, and I think to myself, ‘Thank you, God that I get to see the sunrise,’” Airan said. At the first prison she was in, Airan said inmates never saw daylight or fresh air the entire duration of their stay. Airan, whose name means “the rays of the morning sun,” said the sun gives her positive energy and strength, to the point that that was one of the three things she wanted to do the day of her surrender.“Since that morning, I hadn’t seen the sunrise,” Airan said. “I get it; it had only been 10 days, but it felt like a lifetime. That was really powerful.”Seeing it ThroughAiran was committed to making the most of her life in prison. She made friends, she learned how to crochet, and she even tried to talk her friends into working out with her. She also handled the garbage every night as her job which, Airan says, gave her a lot of time to think and reflect on everything that had happened.“It gave me a lot of time to learn and think about the things that I talk about now, which is How did I let myself get to this place? What happened? What are the lessons? How can I help people not have to go through what I went through? What good can come of this experience?” she said, “cause I’m a big believer that everything happens for your good. You just have to find what that is. Sometimes it takes a little longer to figure that out.” Airan’s longtime friend Eliza Fendell said Airan was courageous and fearless throughout the entire process. In fact, she even called all of her friends to explain what was going on and invite them to the trial.“We’d go out to lunch, and she’d run into someone she knew, and they’d ask her how she is, and she’d say, ‘Oh, well, I’m going through this thing, and this is what it is,’” Fendell said. “Just like—boom, right there at a restaurant. It really took my breath away every time I saw it.”Fendell said Airan never put on a brave face or hid what was going on. She always felt that Airan faced what she had done and, in turn, accepted what she had to do.“There were a good 100-plus people at the sentencing hearing, because she invited everyone to come and support her so that we could be a part of the process with her,” Fendell said. “I thought it was so brave. That was the only time she broke was when the judge came down with a sentence. That was it.”Fendell said Airan’s main concern was being taken away from her children. Through Airan’s time in prison, Fendell made it a daily habit to write Airan and update her on the kids and what was going on in the community. “I felt that I knew that I would have wanted to be in the loop about what was happening and who got elected to this, who was appointed to that, and that was an important component also,” Fendell said. “I think that was helpful for when she came back in. When she was released, I remember she texted me, ‘I’m out,’ and then the next day was at a birthday party and it was remarkable. She just fell right back in.”Eventually, when Airan testified in another case, she got early release.  She’s now committed to sharing her message as an ethics speaker, consultant, and trainer. Ethics are a concern across many different industries, and now, Airan said, when she speaks to corporations and law firms, she feels they see her as a good person who made a bad decision. Through this, she hopes, she can help others realize the consequences of their actions—and how a drive to succeed can sometimes cause blind spots that lead to unethical decisions. Coffey said there are so many talented people who are more than smart enough to rationalize like Airan when their ethical and legal choices move into gray zones. Though everyone knows what’s right or wrong, some decisions—particularly those Rashmi had to make—are more complex. “I think what is very important is to find a compass for not just navigating the clear decisions, but navigating through the decisions where temptations are great, the ability to rationalize is ever present, and the ethics and legality can seem more gray than clear cut,” Coffey said. 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  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brianna Gilpin Demand Propels Home Prices Upward 2 days ago Related Articlescenter_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago Previous: Wells Fargo Puts VA Refi Problems Behind it Next: Time is Running Out Sign up for DS News Daily Tagged with: Ethics Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago August 4, 2017 4,492 Views Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

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Hurricane Harvey: Following the Flood

first_img Related Articles Hurricane Harvey: Following the Flood Demand Propels Home Prices Upward 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Flood Insurance hurricane harvey 2017-08-28 Joey Pizzolato  Print This Post Home / Daily Dose / Hurricane Harvey: Following the Flood Tagged with: Flood Insurance hurricane harvey Previous: Law Firm of Brady & Kosofsky Advances Remote Closing Transaction Next: Delinquencies Take Another Dive Sign up for DS News Daily About Author: Joey Pizzolato Data Provider Black Knight to Acquire Top of Mind 2 days ago August 28, 2017 2,229 Views Demand Propels Home Prices Upward 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save (Photo by Joe Raedle/Getty Images)It has been three days since Hurricane Harvey made landfall off the coast of Texas, and flooding continues to be a major concern for impacted residents. Houston, in particular, was especially ravaged rainfall, with the largest city receiving 25 inches of rain in just two days. According multiple news sources, another 25 inches is expected in the next few days as Harvey drifts out to the Gulf of Mexico before crossing over southeast Texas again.CoreLogic has been following this developing story and conducting its own research on the fallout as it pertains to housing. Monday morning the organization found that 52 percent of properties inside the Houston metro are at a high risk of flooding are not in Special Flood Hazard Areas (SFHA) as designated by Federal Emergency Management Agency, and thereby not required to have flood insurance for a federally insured mortgage.Houston-Sugarland-Baytown area has the largest number of properties outside of the SFHA. Out of 2,340,343 total properties in the area, 1,210,185 are at high and moderate risk of flooding, but sit outside the SFHA. There are only 268,928 properties inside of SFHA that are designated at extreme or very high risk and thereby required to have flood insurance.Corpus Christi, which was almost directly in Harvey’s path as it struck the coast Friday night, only had 35 percent of the properties (12,099 out of 34,330) in high or moderate risk of flooding sit outside the SFHA.The Austin-Round Rock-San Marcos metro only had the least amount of properties in high or moderate risk of flooding located outside the SFHA—127,073 out of 701,325 total properties, or 18 percent—but that area is only expected to receive one to three inches of rain through Wednesday, according to the Austin-American Statesman.Fannie Mae and Freddie Mac have both issued bulletins reminding borrowers affected by the disaster of special forbearance options available to help ease the burden.Due to the president announcing that multiple counties in southeast Texas are now disaster areas, the Department of Housing and Urban Development (HUD) will be able to offer additional mortgage and foreclosure relief to borrowers in these communities.“Today, our thoughts and prayers are with those who are beginning the process of recovering from Hurricane Harvey,” said HUD Secretary Dr. Ben Carson. “As FEMA begins to assess the damage and respond to the immediate needs of residents, HUD will be there to offer assistance and support the longer-term housing recovery efforts.”CoreLogic’s analysis, however, does not factor in storm surge or flash-flooding risk. You can read their full findings here. Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, Headlines, Loss Mitigation, News, REO, Secondary Marketlast_img read more

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Where Bad Credit Can Be Repaired

first_imgHome / Daily Dose / Where Bad Credit Can Be Repaired Apartmentguide.com released its best cities to repair bad credit and found that New Brunswick, New Jersey, to be the best market to repair bad credit. The release states that New Brunswick is New Jersey’s fastest-growing market, has a lower average credit card debt of $1,492, and has an unemployment rate of 3.6%. The cost of living score comes in at 121.3, which is slightly higher than the national average of 100, but significantly lower than close-by New York City’s cost of living of 209.Residents of New Brunswick also had the lowest average credit score of 578.Following New Brunswick was Darlington, South Carolina; Hamtramck, Michigan; Horn Lake, Mississippi; and Laurens, South Carolina. Darlington had the lowest average credit card debt of $1,193 and the lowest cost of living score of 76.1. Hamtramck has a lower cost of living and only one in 300 renters are being evicted. When it comes to the worst places to repair bad credit, Dulton, Illinois, took the top spot. According to the report, Dolton has the least amount of opportunity to improve your finances, as it has an unemployment rate of 7.1%. The market also has high credit card debt at $2,077. Joining Dolton was Paterson, New Jersey; Waterbury, Connecticut; Maywood, Illinois; Suitland, Maryland. Suitland had the highest average credit card debt at $2,246. Poor credit scores, according to a study by LendingTree earlier this month, are among one of the many pieces that could be impacted by foreclosures. The report states that there were over 600,000 homes in foreclosure in the U.S., the lowest since the financial crisis, when foreclosures peaked at about 2.9 million in 2010.“To assess how long the damage from a foreclosure lingers, LendingTree conducted a lengthy study of how credit scores trend after foreclosure,” said LendingTree Chief Economist Tendayi Kapfidze. “We also assessed the loan terms offered to borrowers with a foreclosure on their record compared to those without.” Related Articles 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. Tagged with: credit card debt debt Where Bad Credit Can Be Repaired Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Loss Mitigation, News Previous: Rent vs. Buy: The Regions with Most Renters Next: An Eye on Trends in Fintech and Foreclosure Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Mike Albanese Demand Propels Home Prices Upward 2 days agocenter_img Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post credit card debt debt 2019-09-25 Mike Albanese September 25, 2019 2,419 Views The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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The Rise of Mom-and-Pop REO Investors

first_imgHome / Daily Dose / The Rise of Mom-and-Pop REO Investors 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Ginnie Mae Hits $32B in Platinum Securities Next: CoreVest American Finance Announces Acquisition by Redwood Trust The Rise of Mom-and-Pop REO Investors Over half of investors at foreclosure auctions plan to purchase fewer than five properties in 2019, according to the 2019 Buyer Insights Survey Report from Auction.com. The report found that 51% of auction buyers are these “mom and pop” investors, while 22% of buyers plan to purchase more than 10 properties for the year. Only 2% of buyers said they plan to purchase more than 100 properties in 2019.“Foreclosure auctions are no longer dominated by larger investors able to navigate what was an opaque process of purchasing a property at the courthouse steps or from a hard-to-find REO asset manager,” said Jason Allnutt, CEO at Auction.com. ”The majority of foreclosure and REO auction buyers are now smaller, mom-and-pop investors who are taking advantage of a much more accessible buying experience.”Auction.com’s Survey Report is based on a survey sent to more than 4,700 buyers who had purchased at least three properties on the Auction.com platform. The survey was conducted between June 6 and June 20, 2019, with 197 buyers responding.According to respondents, the South is one of the most popular locations for foreclosure buyers, with 73% purchasing properties in the South region of the country, the highest share of any region. A good chunk are purchasing outside of their location, as 24% of survey respondents said their local housing market is overvalued with a correction possible.Earlier this year, Auction.com took a look at what investment strategy is the best for whatever your endgame would be. Advantages to real estate investment compared to other investment strategies include appreciating property values, easy access to credit with a property as collateral, equity buildup, and deferred profits. There are two main strategies to real estate investment, Auction.com notes: buy and hold, and fix and flip.“Opting for a long-term or short-term strategy in building your investment portfolio is a personal decision,” Auction.com notes. “You should consider your investment goals, capital availability, your risk tolerance level and flexibility as it applies to your exit strategy.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save About Author: Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Auction Foreclosure Investors Mom and Pop Subscribe Auction Foreclosure Investors Mom and Pop 2019-10-16 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago October 16, 2019 3,625 Views The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, Investment, News  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

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New Studies Reaffirm Dramatic Increases in Home Values

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 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 ago January 22, 2021 1,391 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Phil Hall Share 1Save Tagged with: Home Values Radian Zillow The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Home Values Radian Zillow 2021-01-22 Phil Hall Home values during December reached to $266,104, an 8.4% year-over-year ascent and the highest annual increase since January 2014, according to new data from Zillow.Home value growth during the fourth quarter of 2020 was 3.2%, the highest at since the Zillow Home Value Index (ZHVI) series started in 1996. Phoenix ranked highest among the major metros in yearly home value growth with a 15.3% upswing, with San Jose a single percentage point behind at 15.2%. Other notable year-over-year gains occurred in Salt Lake City (13.2%), Seattle (13%), and Austin (12.9%).Monthly home value growth last month was 1.1%, unchanged from November. Nonetheless, this was still the fastest month-over-month growth that Zillow has recorded in 14 years. Monthly growth ranged from 0.6% in Las Vegas to 1.8% in Salt Lake City.Zillow’s data was mirrored by the latest Radian Home Price Index (HPI) data released by Red Bell Real Estate LLC, a Radian Group Inc. company, which determined four records were broken by the 2020 housing market: The highest average sales price ($381,316), the shortest days on market to sale (93), the number of closed sales (3.6 months) and the average active monthly listings (1.2 months).“In the end, there was nothing typical about 2020,” noted Steve Gaenzler, SVP of Data and Analytics. “As the country shut down in March, no one predicted what would happen over the remainder of the year. Despite a global pandemic, social unrest at levels not seen in generations, and a divisive political environment, the U.S. housing market thrived. In many ways, this was a Black Swan outcome, albeit a positive one.”“The confluence of fiscal policy, monetary policy, the administration, and private sector innovation such as remote valuations, digital closings and many other product innovations, paved the way to not just stabilize housing, but to create an environment for strong growth,” addedThe Radian HPI data also determined home prices rose from November to December at an annualized rate of 8.5% and closed the calendar year 2020 with an 8% annualized increase. Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / New Studies Reaffirm Dramatic Increases in Home Values in Daily Dose, Featured, News The Best Markets For Residential Property Investors 2 days ago New Studies Reaffirm Dramatic Increases in Home Values Subscribe  Print This Post Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Previous: Post-Moratorium Conditions and Concerns Next: How Janet Yellen’s Economic Policy May Impact the Industry Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articleslast_img read more

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Campbell Warns to Examine Independent Cllrs Policies before Voting

first_img Pinterest Three factors driving Donegal housing market – Robinson Previous articleDonegal Council Chairman given leave to challenge Minster’s windfarm directiveNext articleThree Towns in Donegal to become Gaeltacht Service Areas News Highland Facebook Homepage BannerNews Twitter Twitter NPHET ‘positive’ on easing restrictions – Donnelly Pinterest Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/12/cams10.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. By News Highland – December 20, 2014 GAA decision not sitting well with Donegal – Mick McGrath Google+ An Independent Councillor says anyone wishing to vote Independent in the next General Election should first examine what the candidates stand for before casting their vote.John Campbell, the Chairperson of Donegal County Council, was speaking after a number of Independent Senators sided with the government this week when voting on the Water Services Bill.The move left many questioning the Independence of Independents.Councillor Campbell says it is not an homogeneous group: WhatsApp Facebook Google+ Campbell Warns to Examine Independent Cllrs Policies before Voting WhatsApp Guidelines for reopening of hospitality sector published RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH Nine Til Noon Show – Listen back to Wednesday’s Programme last_img read more

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Labour to name new councillors shortly

first_img Google+ Twitter WhatsApp Calls for maternity restrictions to be lifted at LUH Three factors driving Donegal housing market – Robinson Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Guidelines for reopening of hospitality sector published Pinterest Newsx Advertscenter_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Senator Jimmy Harte says he expects to have replacements in place on both Donegal County Council and Letterkenny Town Council within a month.Last night, he went to a meeting of Letterkenny Town Council to formally confirm his resignation and commit himself to supporting the council in the Seanad.He confirmed to Highland Radio News that discussions are ongoing both locally and nationally, and he expects the new councillors to be chosen very shortly.He says it was important to him to go back to the chamber one last time……….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/05/jhart1pm.mp3[/podcast] Google+ RELATED ARTICLESMORE FROM AUTHOR Labour to name new councillors shortly By News Highland – May 10, 2011 Facebook WhatsApp Facebook Previous articleLetterkenny councillors told City of Culture designation will benefit DonegalNext articlePSNI investigate Derry fire News Highland last_img read more

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Stimulus package slammed as forgetting about Donegal once again

first_img WhatsApp Twitter By News Highland – July 18, 2012 News RELATED ARTICLESMORE FROM AUTHOR Google+ Facebook Stimulus package slammed as forgetting about Donegal once again Twitter Calls for maternity restrictions to be lifted at LUH Pinterest Opposition politicians to the Government in Donegal are hitting out at the €2 billion stimulus package – announced yesterday afternoon.A number of local politicians have stated that Donegal has been forgot about once again.While Senator Jimmy Harte has welcomed the package, which has earmarked funds for a new courthouse in Lettekenny and for new care centers in Donegal Town and Dungloe, but his enthusiasm has not been shared by all Donegal’s representatives.Donegal North East Deputy, Charlie McConalogue has said the stimulus package is very dissapointing…[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/cmcc.mp3[/podcast]And Sinn Fein Cllr Jack Murray has said that he is paticularly dissapointed that the A5 project has not been included in the package.He says if it had of been included, then hundreds of jobs would have been created…[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/jackm.mp3[/podcast]center_img Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleJournalist who wrote article that published McAreavey photos arrested in MauritiusNext articleDeputy McGinley welcomes plans to develop two primary care centres News Highland Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Guidelines for reopening of hospitality sector published Google+ Facebook Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

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