Revenue Remains Constrained for Banks in Q2 Despite Record Earnings

first_img About Author: Xhevrije West After reaching record earnings in the second quarter of 2015, the U.S. banking industry can expect global economic factors, recent stock market volatility, and interest rates to be deciding factors in the upcoming third quarter report and beyond.U.S. banking institutions that are insured by the Federal Deposit Insurance Corp.(FDIC) earned an aggregate net income of $43.0 billion in the second quarter of 2015, up $2.9 billion from a year ago, the FDIC announced in their Quarterly Banking Profile last week.The $43.0 billion second quarter profits, the highest quarterly income on record, was mostly driven by a $3.6 billion rise in net operating revenue, the FDIC said.”The industry experienced a continuation of positive trends observed over recent quarters,” said. Martin J. Gruenberg, Federal Deposit Insurance Corp., Chairman.”However, the banking industry continues to face challenges. Revenue growth has lagged behind asset growth, as exceptionally low interest rates put downward pressure on net interest margins. On balance, the industry—and community banks in particular—experienced another positive quarter.”In an analysis of second quarter bank earnings, the Kroll Bond Rating Agency (KBRA) determined that credit metrics are improving for the U.S. banking industry, but revenue and earnings are still an issue, especially for larger banks.Regional and community banks reported better performance in the second quarter of 2015 compared to bigger institutions, which has usually been the case for previous quarters.The FDIC’s net operating revenue rose 2.1 percent from a year ago to $172.9 billion as loan growth raised revenues for most banks in the second quarter. Net interest increased by 2.3 percent compared to the second quarter of 2014, while noninterest income was 1.9 percent higher. Servicing income increased 63.9 percent and trading income fell 14.1 percent.The report also noted that community bank earnings increased 12 percent from a year earlier to $5.3 billion. Net operating revenue also rose 8.0 percent from a year ago to $22.3 billion at community banks.KBRA believes that third quarter earnings will be affected by global economic conditions, stock market volatility, and the Federal Reserve’s interest rate decision. Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe September 11, 2015 764 Views The report also noted that four things must occur for banks to maintain the growth levels seen the second quarter:Expenses must remain under control and the downward trend in litigation and other regulatory costs must continue.It would be beneficial for the industry to see another $4 billion handle on servicing income for Q3, but this particular income line for banks tends to be very volatile.Releasing additional reserves back to income also would be advantageous, but this is unlikely.It would be significant if the rebound in mortgage origination volumes continued in the second half of 2015, but KBRA expects to see volumes start to soften after a torrid first half of the year.”All in all, KBRA expects trends in U.S. banking industry revenue, earnings, and credit costs to continue to track the past few quarters, but with less help from operating expense reductions and reserve releases,” KBRA concluded. “Higher volatility and growing investor concerns about the health of China and the global economy will make managing institutions with market exposure especially challenging.”Forbes also issued a bank profit outlook report for 2016, noting that earnings among these institutions could rise 50 percent. Author of the report, Bill Conerly said that bank can increase their earning next year by focusing on loan growth, monitoring deposit levels, and working on employee retention.”The year 2016 should be a good one for banks in the United States, with the best managed institutions doing especially well,” Conerly said.Click here to view Kroll Bond Rating Agency’s Banking Industry: Q2 2015 Review & Outlook.Click here to read more of Forbes Bank Profit Outlook 2016.  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago “Looking forward to the end of the third quarter, the market turmoil caused by China’s faltering economy may impact non-interest income at many large banks that are active as advisers in the primary market for securities,” the agency said. New issue activity in the bond market dried up for several weeks in August, depriving dealers of fee income.”KBRA added, “Market volatility is likely to continue through the rest of 2015 and beyond as markets get comfortable with an eventual change in policy by the FOMC. However, the key question for most investors remains whether short-term interest rates are going to move higher in the U.S.” Share Save Related Articles Previous: Comptroller of the Currency Discusses Progress Made Toward Rehabilitating Urban Communities Next: Distressed Sales Share Continues Steady Decline, Falls to 9.4 Percent Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Banks Earnings FDIC Profits 2015-09-11 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Banks Earnings FDIC Profits Revenue Remains Constrained for Banks in Q2 Despite Record Earnings Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Revenue Remains Constrained for Banks in Q2 Despite Record Earnings The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

More Communities Banning Plywood on Zombie Homes

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago More Communities Banning Plywood on Zombie Homes Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / More Communities Banning Plywood on Zombie Homes Abandoned “zombie homes” are a problem in many communities, driving down property values, attracting crime, and often creating safety risks such as fire hazards. Communities battle zombie homes and related urban blight in a variety of ways, ranging from fast-track foreclosure legislation to New York’s ongoing program of purchasing distressed mortgages in an attempt to keep homeowners in their homes. One symptom of zombie homes that more communities are fighting back against? Plywood.Newsday reports that Oyster Bay, New York, has become the latest community to ban the use of plywood in boarding up the windows or doors of abandoned zombie homes, with a law forbidding the material taking effect this past week.Oyster Bay spokesperson Marta Kane told Newsday that the town would begin alerting the appropriate homeowners, banks, and lending institutions that plywood was now banned, and that they were responsible for replacing the material. Failure to do so will result in the town replacing the plywood and then charging the relevant parties. The law also requires “banks that foreclose on homes to deposit $25,000 to cover any costs to the town to clean up or board up the property.”Oyster Bay Town Supervisor Joseph Saladino said in a statement, “The town strengthened the law to address quality of life concerns caused by dilapidated and vacant homes in our neighborhoods. Together with residents and local civic associations we are taking back our neighborhoods by cracking down on code violations and holding absentee landlords and lending institutions accountable.”This shift from plywood to the use of polycarbonate “clearboarding” has been a trend in many communities across the country, with Ohio banning use of the material in early 2017. That came on the heels of Fannie Mae’s announcement in November 2016 that it would allow mortgage servicers to use clearboarding on vacant homes in pre-foreclosure. In June 2016, New York Governor Andrew Cuomo set up a consumer hotline to take reports of zombie properties, of which there are an estimated 6,000 within the state of New York alone. More and more communities are embracing clearboarding as a means to fight some of the negative effects of zombie homes, and the keep them both more secure and less unsightly.Louisville, Kentucky-based WDRB reported last week that Louisville’s 2018 budget allotted more funding for a new clearboarding initiative, targeting nearly 200 homes while the city pursues other legal actions. Louisville also increased its rate of foreclosures in the past year, initiating 96 foreclosures since July 1. Metro Louisville’s Vacant and Public Property Administration also demolished 57 homes during that period. in Daily Dose, Featured, Foreclosure, Headlines, Journal, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: How Cryptocurrency Can Help Fund Affordable Housing Next: Low Delinquencies Drive Consumer Credit Market Performance February 19, 2018 3,807 Views About Author: David Wharton Demand Propels Home Prices Upward 2 days ago Tagged with: abandoned homes Blight Blight Elimination Blighted Homes Blighted Properties Clearboarding Plywood Polycarbonate Property Preservation Vacant and Abandoned Homes Vacant and Abandoned Properties zombie homes Servicers Navigate the Post-Pandemic World 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago abandoned homes Blight Blight Elimination Blighted Homes Blighted Properties Clearboarding Plywood Polycarbonate Property Preservation Vacant and Abandoned Homes Vacant and Abandoned Properties zombie homes 2018-02-19 David Wharton Related Articles Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days agolast_img read more

States Trying to Circumvent Federal Property Tax Changes

first_img Tagged with: Property Taxes tax cuts and jobs act Tax Reform taxes About Author: David Wharton Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Cost of GSE Reform Next: Bankruptcy Judge Backs Lehman Brothers in RMBS Suit Demand Propels Home Prices Upward 2 days ago Property Taxes tax cuts and jobs act Tax Reform taxes 2018-03-11 David Wharton Share Save Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / States Trying to Circumvent Federal Property Tax Changes While the long-term effects of the recently passed Tax Cuts and Jobs Act remain to be seen, one of the more controversial changes in the law involves caps on interest payment deductions and property tax deductions. Prior to the tax reform bill, homeowners could deduct interest payments on home loans worth up to $1 million. The Tax Cuts and Jobs Act decreases that to $750,000, as well as capping annual property tax deductions at $10,000, when there was no cap on this previously. Now some affected states are looking for ways to minimize or eliminate the financial penalties the tax law would impose on homeowners with high property values.As reported by USA Today in January, the states of New York, New Jersey, and Connecticut actually formed a coalition to sue the federal government over the tax changes. Whether that works or not, in the meantime Forbes reports that several states are coming up with plans to allow homeowners to work around the new caps and reduce their resulting tax burden under the new law.So what do these plans look like? In Connecticut, Gov. Dannel P. Malloy has put forward a proposal that would allow cities and towns within the state to create state-owned charitable organizations that taxpayers could donate into, after which they would receive an equivalent tax credit. So, as Forbes explains, “…in theory, a homeowner with a $12,000 tax bill could instead donate $12,000 to their town’s charity and end up owning nothing in taxes.”New York’s Gov. Andrew Cuomo has put forward a similar plan, which would allow New Yorkers donating to the proposed state-owned charities to get an 85 percent tax credit back on their strategic donations. However, Cuomo also proposes instituting a voluntary payroll tax in which participating employers would pay a 5 percent tax annually on employee payroll expenses above $40,000 a year. Those employees would then receive state income tax credits that would reduce their federal tax liability, in theory.Could these plans work? U.S. Treasury Secretary Steven Mnuchin has called the idea “ridiculous.” Time will tell who is right. in Daily Dose, Featured, Government, Headlines, Journal, News States Trying to Circumvent Federal Property Tax Changes Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago March 11, 2018 1,725 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

Study: Tax Savings to Benefit Housing Market

first_imgHome / Daily Dose / Study: Tax Savings to Benefit Housing Market Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Despite detracting from some former homeowner tax benefits, the Tax Cuts and Jobs Act will spur billions in spending in the housing industry, according to estimates from Zillow. Americans are primed to channel $13.2 billion in tax savings toward the purchase or rental of a larger home and another $24.7 billion toward home renovations this year. While the new tax law imposes stricter limits on the mortgage interest deduction and deductions for state and local property taxes, it raises the standard deduction for most Americans, and according to the semi-annual Zillow Housing Aspirations Report, “many are likely to spend at least some of these gains, however small, on housing.” Americans have earmarked the largest portions of their tax savings for “savings and investment” and “paying off debt,” according to Zillow’s survey of more than 10,000 consumers in the 20 largest U.S. markets. Both owners and renters are likely to hold about 29 percent of their savings as “savings and investment.” For owners, another 21 percent will go to paying off debt; renters will put 27 percent toward paying off debt. Homeowners collectively will spend about 4 percent of tax savings on buying or renting a larger home and about 15 percent on home renovations. Renters will spend 11 percent of their tax savings on buying or renting a larger home and 2 percent on home renovations. A small percentage of respondents said they intend to spend all of their tax savings on buying or renting a larger home—about 2.6 percent of renters and 0.5 percent of owners. About 8.1 percent of renters and 1.4 percent of owners said they intend to spend at least half on a larger home. Higher-income households will spend a smaller portion of their tax cuts on housing than lower-income households, according to Zillow’s survey. Households in the top quintile of earnings will spend about 3.6 cents of each dollar in savings, while households in the bottom quintile of earners will spend 12.2 cents of each dollar on housing. Of the 20 large markets surveyed, those where households are likely to spend the largest portion of their tax cut on housing were St. Louis, Missouri (16.8 cents per dollar); Miami, Florida (16.5 cents); and Atlanta, Georgia (15.5 cents). Markets where households will spend the smallest portion of their tax cut on housing were Seattle, Washington (7.7 cents); Phoenix, Arizona (8.1 cents); and Chicago, Illinois (8.7 cents). For its survey, Zillow asked respondents how they would spend a tax cut of $1,610, which is the estimated average tax cut per household calculated by the Tax Policy Center. “Because the highest earners received disproportionately larger tax cuts, the effects on the housing market are more muted than they might have been had tax cuts been uniformly distributed,” Zillow explained. Zillow estimated an additional $174 million will be spent on buying or renting a larger home in 2018, but if the tax cuts were distributed uniformly, Zillow calculates an additional $4.5 billion would be spent due to the discrepancy in the portion of anticipated spending between high-income and low-income households. Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Subscribe Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Housing Market tax cuts and jobs act Tax Reform tax savings 2018-05-20 Krista Franks Brock About Author: Krista Franks Brock in Daily Dose, Featured, Government, Journal, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 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 Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Housing Market tax cuts and jobs act Tax Reform tax savings May 20, 2018 1,921 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Study: Tax Savings to Benefit Housing Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: A Snapshot of Single-Borrower SFR Securitizations Next: The Week Ahead: Webinar Focuses on Compliance Related Articles Demand Propels Home Prices Upward 2 days ago Share Savelast_img read more

Clarida Nom Heads for Senate Vote

first_imgSign up for DS News Daily  Print This Post Clarida Nom Heads for Senate Vote Richard ClaridaMichelle BowmanOn Tuesday, the Committee on Banking, Housing and Urban Affairs met on Tuesday in an open session to vote on the nominations of Richard Clarida for the post of Vice-Chairman of the Federal Reserve Board of Governors and Michelle Bowman for the post of Member of the Board of Governors of the Federal Reserve (The Fed).Clarida’s nomination was passed with a vote of 20-5 with all Republicans on the panel as well as a majority of Democrats voting in favor of Clarida serving as the Vice-Chairman of the Fed. If confirmed by the Senate, Clarida will serve as Fed Chairman Jerome Powell’s deputy on the Board.Bowman’s nomination as a member of the Board of Governors of the Fed was also passed with an 18-7 vote. Both nominations are now headed for a full Senate vote.“Both nominees are clearly qualified and should be quickly confirmed by the full Senate,” said Sen. Mike Crapo, Chairman of the Banking Committee in his remarks during the hearing.Sen. Sherrod Brown, the lead Democrat on the Committee, however, voted against both nominations saying that he was not satisfied with the answers given by them during their confirmation hearings.During his confirmation hearing in May, Clarida had stressed on supporting policies that were “effective, efficient, and appropriately tailored,” if confirmed.He had reaffirmed his belief in the Fed’s independence saying, “If I am confirmed, I pledge to work closely with Chairman Powell and my future colleagues to put in place policies that best fulfill its obligation to meet the mandates that the Congress has assigned to the Federal Reserve and to foster the transparent communication and accountability that is so vital to preserving the Federal Reserve’s independent and nonpartisan status.”Bowman, who comes from a family that has been in banking for generations said that she knew firsthand the importance of community banks in the nation, during her confirmation hearing. “Without these institutions, many communities and many of our citizens will see their economic opportunities suffer significantly,” Bowman had told the committee at that time.According to the Wall Street Journal, Clarida and Bowman are “the fourth and fifth nominees” to the Fed Board by the Trump administration and follow Powell “who became chairman in February; Randal Quarles, who became the Fed’s vice chairman for bank supervision last fall; and Marvin Goodfriend, a Carnegie Mellon University economist also awaiting Senate confirmation.” Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Home / Daily Dose / Clarida Nom Heads for Senate Vote Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Non-Owner-Occupied Homes: Where Are They Most Common? Next: Delinquency Rates Hit Pre-Crash Lowscenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago June 12, 2018 1,514 Views Demand Propels Home Prices Upward 2 days ago Banking Bowman Brown crapo Fed Nominations Nominees Powell Senate 2018-06-12 Radhika Ojha About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Banking Bowman Brown crapo Fed Nominations Nominees Powell Senate The Best Markets For Residential Property Investors 2 days ago Share Savelast_img read more

House Passes Disaster Relief Bill

first_img About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Tiny Homes and Affordability Struggles Next: The QM Patch’s Impact on Affordable Housing Tagged with: Disaster Relief House of Representatives hurricanes Puerto Rico Servicers Navigate the Post-Pandemic World 2 days ago On Monday, the House of Representatives voted to pass H.R.2940, which provides $19.1 billion in recovery funds for disaster-affected areas including Puerto Rico. The House passed the bill after a 10-day recess, voting 354-58. As the Senate had already voted to pass the bill 85-8 on May 23, the bill will now move on to President Donald Trump for his sign-off.”We must work together quickly to pass a bill that addresses the surge of unaccompanied children crossing the border and provides law enforcement agencies with the funding they need,” said top Appropriations Committee Republican Kay Granger of Texas on Fox News. “The stakes are high. There are serious—life or death—repercussions if the Congress does not act.”U.S. Reps. Randy Weber and Lizzie Fletcher introduced the Bipartisan Disaster Recovery Funding Act in May with support from 13 other co-sponsors from Texas, mostly from the Houston area, as well as supporters from other communities waiting on the funding, including Louisiana, South Carolina, Florida, and Puerto Rico.The Act directs federal agencies to release the $16 billion in disaster funds Congress approved in early 2018 following Hurricane Harvey to different states and territories—including more than $4 billion to Texas—within 60 days.“After Harvey hit, I fought alongside the Texas delegation to secure additional funds for Harvey survivors,” said U.S. Rep. Mike McCaul. “Unfortunately, the agencies tasked with distributing these funds did not respond with the same urgency.”According to the Texas Tribune, Texas has already received billions of dollars for Harvey recovery, but each bucket of money is designated for a specific purpose. The $4.3 billion that Congress approved for Texas last February is part of a HUD grant program designed “to help cities, counties, and States recover from Presidentially declared disasters, especially in low-income areas.”The Five Star Conference will host its Disaster Preparedness Symposium on July 31 in New Orleans, Louisiana. Natural disasters impact investors, service providers, mortgage servicers, government agencies, legal professionals, lenders, property preservation companies, and—most importantly—homeowners. The 2019 Five Star Disaster Preparedness Symposium will include critical conversations on response, reaction and assistance, to ensure the industry is ready to lend the proper support the next time a natural disaster strikes. in Daily Dose, Featured, Government, Loss Mitigation, News June 4, 2019 1,730 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago House Passes Disaster Relief Bill Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Share Save Home / Daily Dose / House Passes Disaster Relief Bill Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Disaster Relief House of Representatives hurricanes Puerto Rico 2019-06-04 Seth Welborn Subscribelast_img read more

Where Mortgage Delinquency Rates Are Improving Most

first_imgSign up for DS News Daily Some of the the biggest drops in delinquency were seen in federal home loans, notably FHA loans, according to new data from the Mortgage Bankers Association’s (MBA) National Delinquency Survey. Marina Walsh, MBA’s VP of Industry Analysis, noted that the MBA will “continue to monitor the credit profile of new FHA loans, as changes to this profile can have a noticeable impact on future delinquency rates.””Mortgage delinquencies decreased in the third quarter across all loan types—conventional, VA, and in particular, FHA,” said Walsh. “The FHA delinquency rate dropped 100 basis points, as weather-related disruptions from the spring waned. The labor market remains healthy and economic growth has been stronger than anticipated. These two factors have contributed to the lowest level of overall delinquencies in almost 25 years.”Delinquency rates have fallen to their lowest rate in 25 years, and on a year-over-year basis, total mortgage delinquencies decreased for all loans outstanding. The delinquency rate decreased by 56 basis points for conventional loans, decreased 74 basis points for FHA loans, and decreased 23 basis points for VA loans.The FHA delinquency dropped the most from the second quarter, by 100 basis points, to 8.22%, and the VA delinquency rate decreased by 31 basis points to 3.93%. The total delinquency rate for conventional loans decreased 61 basis points to 3.00% compared to the second quarter. Additionally, the three states with the largest decreases in their overall delinquency rate were states impacted by weather in the previous quarter: Alabama (81 basis points), West Virginia (78 basis points), and Mississippi (73 basis points).Many of the loans that fell into delinquency were older loans. One key finding in the survey was that just 14% of all seriously delinquent loans were originated in 2016 or later. However, 25% of FHA seriously delinquent loans were originated in 2016 or later. 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 ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Where Mortgage Delinquency Rates Are Improving Most Where Mortgage Delinquency Rates Are Improving Most Tagged with: Delinquency FHA VA Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles November 15, 2019 3,500 Views center_img in Daily Dose, Featured, Foreclosure, News The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: HUD Reaches Settlement with Housing Providers Next: Ginnie Mae Issues $60.046B in Mortgage-Backed Securities Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Delinquency FHA VA 2019-11-15 Seth Welborn Share Save Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Subscribelast_img read more

Foreclosure Trends Amid an “Artificially Low” Period

first_imgSign up for DS News Daily About Author: Andy Beth Miller Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, News Share Save Home / Daily Dose / Foreclosure Trends Amid an “Artificially Low” Period Andy Beth Miller is an experienced freelance editor and writer. Her main focus is travel writing, and when she is not typing away from her computer at her home in the Hawaiian Islands, she is regularly roaming the world as a digital nomad, and loving every minute of it. She has been published in myriad online and print magazines, is a fan of all things outdoors, and finds life (and all of its business, technological, and cultural facets) fascinating in their constant evolution. She is excited to spectate as the world changes, and have a job that allows her to bring a detailed account of those constant shifts to her readers at home and abroad. Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Expert Insights: An Update on Demand Letter Litigation Next: Home Point Financial Names Perry Hilzendeger President of Servicing ATTOM Data Solutions has released its July 2020 U.S. Foreclosure Market Report, highlighting foreclosure filings and trends across the nation.ATTOM reports a total of 8,892 properties with foreclosure filings in July, including “default notices, scheduled auctions, or bank repossessions.” This number decreased by 4% from the month prior (June 2020) and was down 83% compared to the year prior.Rick Sharga, EVP at RealtyTrac, offered his insights on the current state of the market, as well as on what to expect moving forward:“Even as mortgage delinquency rates climb, foreclosure activity continues to be artificially low due to moratoria put in place by the Federal and State governments. It’s inevitable that there will be a significant increase in foreclosures once these moratoria have expired, although it’s unlikely that we’ll see default rates reach the levels we saw during the Great Recession.”The results also revealed how the various states across the nation stacked up. Those states with the greatest (highest) foreclosure rates were Delaware, South Carolina, and Maine, respectively. Specifically, Delaware posted that one in every 6,489 housing units filed, followed closely by South Carolina residents, of which one in every 7,328 housing units filed. Rounding out the top three was Maine, where one in every 7,542 housing units filed. Just shy of reaching the top three were New Mexico (posting one in every 8,255 housing units filing), and California (recording one in every 9,194 housing units filing).Results were also broken down into various metro areas. Regarding the smaller American metro areas (those with 200,000 residents or less), the locales with the most filed foreclosures in July were Trenton, New Jersey; McAllen, Texas; Davenport, Iowa; Dayton, Ohio; and Albuquerque.The larger metro areas (those with more 1 million residents) that reported the worst foreclosure rates for July were Louisville, Kentucky; Riverside, California; Baltimore, Maryland; Cincinnati; and St. Louis, Missouri.ATTOM also reports that bank repossessions were down 14% month-over-month and 80% year-over-year.“Even after default activity starts to increase, we may not see a similar increase in the number of repossessions,” Sharga noted. “The combination of record levels of homeowner equity, extremely limited supply of homes for sale, and strong homebuyer demand should give many distressed homeowners an opportunity to sell their property rather than lose it to foreclosure.” Related Articles The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Tagged with: ATTOM Data Solutions Foreclosure Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago ATTOM Data Solutions Foreclosure 2020-08-13 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Foreclosure Trends Amid an “Artificially Low” Period August 13, 2020 2,191 Views last_img read more

Andrew Allen’s family critical of Garda investigation into his murder

first_imgNewsx Adverts Twitter Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR Pinterest Guidelines for reopening of hospitality sector published WhatsApp Help sought in search for missing 27 year old in Letterkenny NPHET ‘positive’ on easing restrictions – Donnelly Facebook Facebook 448 new cases of Covid 19 reported today center_img Google+ Previous articleThirteen objections lodged against Glenties windfarm proposalsNext articleHSE proposes the closure of Lifford Community Hospital News Highland The Derry Journal reports that Mr Allen’s family are not happy with how police on both sides of the border have handled the murder investigation.His girlfriend Arlene says she cannot understand why no description of the gunman has been released.She said that since the gardai or police have not given out her description she will. Arlene says the gunman was arounf 5 foot 8 inches tall and wearing a black baseball cap and dark clothes. She says he was holding what appeared to be a sawn-off shotgun.Arlene added that since the shooting last week, gardai have not contacted the family.Andrew’s uncle Tony added that the police were, in his opinion, useless in dealing with groups carrying out these attacks. Twitter Pinterest By News Highland – February 17, 2012 Andrew Allen’s family critical of Garda investigation into his murder WhatsApp Google+ Calls for maternity restrictions to be lifted at LUH last_img read more

Number of vacant commercial premises in Donegal continues to rise

first_img Facebook Homepage BannerNews NPHET ‘positive’ on easing restrictions – Donnelly WhatsApp WhatsApp RELATED ARTICLESMORE FROM AUTHOR Pinterest Number of vacant commercial premises in Donegal continues to rise GAA decision not sitting well with Donegal – Mick McGrath Facebook Guidelines for reopening of hospitality sector published Previous articleTwo truck drivers dead after Monaghan collisionNext articleBuncrana Gardai seize van with drugs in it, but no tax and insurance on it News Highland center_img Google+ Twitter Pinterest Google+ By News Highland – January 11, 2016 Three factors driving Donegal housing market – Robinson Nine Til Noon Show – Listen back to Wednesday’s Programme Twitter Calls for maternity restrictions to be lifted at LUH Commercial vacancy rates in Donegal have increased, from 13.8% in 2014 to 14.2% 2015Commercial vacancy rates in Donegal have increased slightly, from 13.8% in 2014 to 14.2% last year.That’s according to new research published by GeoDirectory today.Overall, the national figure is marginally down, with 12.6% of commercial premises unoccupied.The data was published by GeoDirectory which was jointly established by An Post and Ordnance Survey IrelandIts CEO is Dara Keogh…………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/01/darageodirectory.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.last_img read more