Monthly Archives: May 2021

Month: May 2021 Study: Household Formations Have Returned to Pre-Recession Levels

first_img 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 in Daily Dose, Featured, Market Studies, News About Author: Brian Honea February 19, 2015 2,662 Views Servicers Navigate the Post-Pandemic World 2 days ago Study: Household Formations Have Returned to Pre-Recession Levels Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Household Formations Job Losses Lusk Center for Real Estate Recession Unemployment Share Save 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. Related Articlescenter_img Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Study: Household Formations Have Returned to Pre-Recession Levels Previous: Zillow Completes Acquisition of Trulia Next: Ocwen Views Recent Settlement as Vindication from Investor’s Allegations of Default Household Formations Job Losses Lusk Center for Real Estate Recession Unemployment 2015-02-19 Brian Honea Sign up for DS News Daily New household formation in the United States has recovered from the widespread job losses that came with the recession, according to a new study from the Lusk Center for Real Estate at the University of Southern California.The study was conducted authored by Gary Painter, director of the Lusk Center, and doctoral candidate Jung Hyun Choi, to determine how long declines in household formation would last following a major economic shock such as a drop in employment that occurred during the recession.The study found that household formations consistently return to their previous levels in about three years regardless of whether employment has recovered at the same rate during that time.”This shows us that even a permanent increase in the unemployment rate will not have a permanent impact on housing formation,” Painter said. “As a result, policymakers and industry practitioners have a new level of predictability when it comes to how economic crises impact the rate of new households.”The researchers found in their study that household formations in the U.S. fell to almost zero during the recession’s peak years of 2008 to 2010, but then played three years of catch-up and have now recovered to pre-recession levels of about one million per year. Quarterly data from 1975 to 2011 showed that household recoveries typically lasted three years following periods of unemployment.”The freeze in formations is over and people are again moving out and forming households. This means that real estate professionals and policy makers should not keep waiting for pent-up demand,” Painter said. “So while a number of factors will continue to influence the housing recovery, household formation is no longer one of them.”last_img read more

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Month: May 2021 New York Governor Announces 11 Institutions Will Adopt Best Practices to Fight Zombie Foreclosures

first_img As part of an ongoing effort to fight the problem of “zombie” foreclosures in New York, Governor Andrew Cuomo announced that 11 financial institutions that represent about 70 percent of the state’s mortgage market will adopt best practices to fight economic damage and blight zombie properties cause, according to an announcement on Cuomo’s website.Banks, mortgage companies, and credit unions are all included in the 11 institutions that are participating. The 11 institutions, are, alphabetically, Astoria Bank, Bank of America, Bethpage Federal Credit Union, Citi Mortgage,  Green Tree Servicing, M&T Bank, Nationstar, Ocwen, PHH, Ridgewood Savings Bank, and Wells Fargo.The best practices include regular inspections of foreclosed properties to determine if they are vacant and abandoned, and then maintaining those properties that are determined to be vacant and abandoned. The institutions will also report those properties that are determined to be vacant and abandoned into a registry developed by the New York State Department of Financial Services. The New York DFS will share the information with local government officials to address any concerns about maintenance on these properties with the bank or servicer that is handling the loan.”Zombie properties can bring down the economic health and safety of entire neighborhoods – but by working together we are taking steps to help strengthen and repair local communities,” Cuomo said. “We commend these companies for working with us to address this problem. This action is a win-win that will benefit communities and mortgage owners across the state, and should serve as a model for protecting neighborhoods from the dangers of vacant and abandoned properties in the future.”Zombie properties – those that are vacant and abandoned but are not yet owned by the mortgagee because the foreclosure process has not been completed – have been a problem throughout New York in the last few years, causing significant taxpayer expenses in the communities where these properties are located. Under current New York law, property maintenance is the responsibility of the property’s owner – thus when the property is abandoned, the property falls into disrepair and not only breeds more blight, but often becomes a magnet for vandalism and violent crime. Banks and servicers are not required to maintain the properties in New York until a court declares the foreclosure process is complete, which often takes three years or longer.”The wave of zombie properties that arose in the wake of the financial crisis harms local communities and threatens the long-term health of the mortgage market,” said Benjamin M. Lawsky, Superintendent of Financial Services. “These common sense actions are an immediate and vital part of repairing that damage as we continue to pursue additional legislative reforms. We will work closely with local officials, mortgage companies, and other stakeholders to continue addressing the vital problem of zombie properties.”Going forward, banks and mortgage companies will conduct an exterior inspection of a property within 60 days of delinquency to determine if the property is vacant and abandoned, and the inspections will continue every 30 days thereafter.  If a property is determined to be vacant and abandoned, the bank or mortgage company will change the lock, replace or board up windows, remove safety hazards, and make sure it complies with the New York maintenance code from that point forward. Click here to see the best practices the banks and mortgage companies will implement.Last month, New York Attorney General Eric Schneiderman introduced an expanded version of the previously-introduced Abandoned Property Neighborhood Relief Act, which will require a mortgagee to provide homeowners with early notice that they are legally entitled to remain in their homes until the foreclosure process is complete (until a court orders them to leave), since many homeowners are unaware that they do not have to leave the house immediately when the foreclosure process begins. The bill would also require the mortgagee to take responsibility for maintenance of vacant properties soon after they are vacated, and not at the end of the foreclosure process, as called for by the current law.”Today’s agreements are a welcome step forward in our fight to stop the epidemic of vacant ‘zombie homes,’ which have burdened our communities with maintenance costs, lowered property values, and crime,” Schneiderman said. “I will continue to work with my colleagues in government across the State to pass our Abandoned Property Neighborhood Relief Act, a legislative solution that will codify today’s reforms into law, provide meaningful enforcement, and give municipalities the resources to take back their streets. I applaud Superintendent Lawsky for moving the ball forward on this crucial issue.” Servicers Navigate the Post-Pandemic World 2 days ago Share Save  Print This Post Sign up for DS News Daily New York Governor Announces 11 Institutions Will Adopt Best Practices to Fight Zombie Foreclosures May 18, 2015 1,457 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Delinquency Rate Falls Below 3 Percent for First Time Since 2007 Next: VRM Mortgage Services Honored by DiversityBusiness For Second Straight Year Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe New York Vacant and Abandoned Properties Zombie Foreclosures 2015-05-18 Brian Honeacenter_img About Author: Brian Honea Tagged with: New York Vacant and Abandoned Properties Zombie Foreclosures 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / New York Governor Announces 11 Institutions Will Adopt Best Practices to Fight Zombie Foreclosures Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articleslast_img read more

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Month: May 2021 How Can Mortgage Professionals Promote Diversity?

first_imgHome / Daily Dose / How Can Mortgage Professionals Promote Diversity? Related Articles Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago AMDC American Mortgage Diversity Council Diversity and Inclusion LGBT Town Hall LGBTQ 2018-06-18 David Wharton Share Save Previous: Fannie Weighs in on Economic & Housing Momentum Next: The Millennial Dream Home Looks Like This Tagged with: AMDC American Mortgage Diversity Council Diversity and Inclusion LGBT Town Hall LGBTQ About Author: David Wharton On Friday, June 15, the American Mortgage Diversity Council (AMDC) and Bank of America hosted the latest in a series of LGBT Town Halls, this one unfolding in Los Angeles, California. Hosted at Bank of America’s Hollywood office, the event brought together participating servicers and local LGBT community groups for a day of discussion regarding issues affecting the LGBT community, both from a homeownership perspective and a workplace inclusion perspective.The event was the fourth such Town Hall organized by the AMDC this year, with previous events happening in Dallas, Chicago, and Miami. Participating organizations included Bank of America, Covenant House California, The Five Star Institute, Fannie Mae, Lambda Legal, Landmark, the Los Angeles LGBT Center, the National Association of Gay and Lesbian Real Estate Professionals (NAGLREP), PennyMac, The Trevor Project, and U.S. Bank.After opening remarks from Derek Templeton, Executive Director of the AMDC, and Kathy Cummings, SVP, Consumer Education at Bank of America and Chair of the AMDC, the day then moved into a discussion of Homeownership and Fair Housing in the LGBT Community. This segment featured John Graff, Chair, NAGLREP Policy Committee.After a brief break, the focus then shifted to Workplace Inclusion and Gender Identity Discrimination, hosted by Shedrick Davis, Western Regional Director for Lambda Legal, a national legal organization committed to achieving full recognition of the civil rights of lesbians, gay men, bisexuals, transgender people, and people with HIV.Following lunch, Alana Weinroth, Development Officer, Covenant House California, led a discussion of LGBT Youth Homelessness before Templeton wrapped things up with the event’s closing remarks around noon.“The American Mortgage Diversity Council is committed to continuing to work toward an industry and a culture that is inclusive of all,” Templeton told DS News. “Today’s discussions were useful toward gaining further understanding of the unique concerns of the LGBT community. We look forward to continuing this important work.”In addition to promoting a dialogue between banks, mortgage companies, and LGBT community organizations, this series of AMDC Town Halls will culminate in the creation of a white paper report that will be circulated to thought leaders across the country, including mortgage industry leaders, housing policy experts, and participating LGBT organizations.You can learn more about the AMDC, including their ongoing webinar series exploring topics related to diversity and inclusion, by clicking here. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Journal, News, Servicing Sign up for DS News Daily June 18, 2018 3,550 Views Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago How Can Mortgage Professionals Promote Diversity? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

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Month: May 2021 What did S&P Say About Mortgage Defaults?

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Foreclosure, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago What did S&P Say About Mortgage Defaults? The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago consumers default hurricanes loans mortgage S&P Indices 2018-10-22 Radhika Ojha Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Tagged with: consumers default hurricanes loans mortgage S&P Indices Home / Daily Dose / What did S&P Say About Mortgage Defaults? 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 ago Demand Propels Home Prices Upward 2 days ago October 22, 2018 2,159 Views Servicers Navigate the Post-Pandemic World 2 days ago Previous: FHA Issues New Requirements Next: An Outlook on the Housing Market Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Subscribe 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.  Print This Post About Author: Radhika Ojha Share Save Consumer credit default rates for mortgages have remained fairly stable in 2018, according to the latest S&P/Experian Consumer Credit Default Indices. The data indicated that first mortgage default rate decreased by two basis points to 0.63 percent in September, compared with 0.65 percent in August 2018. On a year-over-year basis, the index indicated that first mortgage defaults were down three basis points from 0.66 percent during the same period last year.The S&P/Experian Consumer Credit Default Indices represent a comprehensive measure of changes in consumer credit defaults. The composite rate of all consumer credit defaults (auto, credit card, and mortgage) was down five basis points compared to August 2018 at 0.82 percent. The largest month-over-month drop in defaults was seen in bank card defaults, which fell 38 basis points to 3.14 percent.The five major metropolitan areas covered by these indices—Dallas, Los Angeles, Chicago, New York, and Miami—recorded a decrease in composite default rates, with Dallas registering the largest drop falling 11 basis points to 0.73 percent in September. The default rate in Miami saw the smallest drop falling just one basis point to 1.56 percent.”Consumer credit default rates for mortgages and auto loans are stable, while default rates for bank cards declined modestly in the last few months,” said David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “With the low unemployment rate and some improvement on wage gains, consumers are not facing rising economic pressure.”Attributing the current “good consumer credit default pattern” to favorable incomes and slowing auto and home sales, Blitzer said that soft retail sales growth had contributed to improvements in the bank card default picture.Looking ahead, Blitzer said that the current hurricane season would have a short-term impact in retail sales in the impacted areas. “However, this is likely to be followed by rising retail sales and spending combined with weaker consumer financial conditions for consumers in affected regions. Depending on the extent and severity of the storm damage, consumer credit default rates in some regions could rise during the rest of 2018,” he said.last_img read more

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Month: May 2021 Homeowner Remodeling Trends At a Glance

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Homeowner Remodeling Trends At a Glance Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Investment, News Servicers Navigate the Post-Pandemic World 2 days ago Previous: CFPB Tackles Mortgage Debt Collection Issues Next: The Industry Pulse: Updates on Roundpoint, CoreLogic, and More The Best Markets For Residential Property Investors 2 days ago March 21, 2019 2,463 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles About Author: Seth Welborncenter_img Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Share 1Save Home / Daily Dose / Homeowner Remodeling Trends At a Glance Homeowners Inventory remodeling Repairs Trulia 2019-03-21 Seth Welborn The Best Markets For Residential Property Investors 2 days ago Instead of buying, more and more homeowners are looking to remodel, according to Trulia. A Trulia poll of over 1,300 homeowners revealed that 90 percent of homeowners plan to remodel their home at some point, an increase from last year’s 84 percent.Many of these homeowners are not looking to remodel with a future sale in mind, but instead are remodeling for themselves. While 68 percent of homeowners plan who plan to sell their homes also plan to remodel in that time, just 17 percent of homeowners who are planning to remodel in the next two years also plan to sell their home in that time.Despite the willingness of homeowners to remodel, most don’t have any plans to remodel in the short term. Just 39 percent of homeowners polled stated interest in remodeling their home within the next 12 months.Younger homeowners, aged between 18 and 34 are more likely to renovate than older homeowners, according to the poll. Trulia found that 92 percent of these younger homeowners are considering renovating or remodeling, compared to 81 percent of homeowners 65 and over. Trulia notes that with millennial homeownership constantly increasing, we will likely see an uptick in remodeling.Homeowners considering remodeling projects are most likely to focus on rooms such as the kitchen and bathroom. The kitchen is the most likely to be remodeled area of the house, with 50 percent of homeowners stating interest in remodeling their own kitchen. The bathroom falls close behind, with 45 percent of homeowners planning to remodel this room. Another 28 percent of homeowners want to remodel the bedroom while 27 percent want to remodel the living room.For all these remodeling projects, homeowners don’t want to spend too much. Around 47 percent say they would like to spend below $5,000, while just approximately 20 percent are willing to spend over $10,000. Trulia notes the low cost of many renovation efforts, such as new paint.Find more data from Trulia’s remodeling survey here.here. Tagged with: Homeowners Inventory remodeling Repairs Trulia Servicers Navigate the Post-Pandemic World 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. last_img read more

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Month: May 2021 President Trump on Opportunity Zones: ‘It’s All Working’

first_img The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn Opportunity Zones Trump 2020-02-04 Seth Welborn in Daily Dose, Featured, Government, Investment, News February 4, 2020 2,398 Views As part of the 2020 State of the Union address, President Donald Trump covered economic growth in the U.S., including increased employment levels, rising wages, and the impact Opportunity Zones have had on underserved areas.“Jobs and investments are pouring into 9,000 previously neglected neighborhoods thanks to Opportunity Zones, a plan spearheaded by Sen. Tim Scott,” President Donald Trump said at the 2020 State of the Union Address. “In other words, wealthy people and companies are pouring money into neighborhoods or areas that haven’t seen investment in many decades, creating jobs, energy, and excitement.””It’s all working,” President Trump added.Sen. Scott had proposed the Opportunity Zone plan as part of the 2017 Tax and Job Cuts act, and according to Scott, the project has been a success, for both residents and investors.“Of the 8,766 census tracts designated as Opportunity Zones, more than 20% have poverty rates of 40% or higher, compared to just 5% of communities nationwide,” Sen. Scott stated in Washington Examiner. “The average poverty rate of zone residents is 28.9%, more than twice the national average. Only 6% of all zones have a median family income above the national average, while 71% of zones meet the U.S. Treasury Department’s definition of ‘severely distressed.’”Housing investors have seen investment in opportunity zones pay dividends, according to ATTOM Data Solutions. As of Q3 2019, half the zones saw median home prices rise more than the national increase of 8.3% year-over-year. Additionally, 79% of the zones had median home prices in the third quarter of 2019 that were less than the national median of $270,000. Among the 3,658 Opportunity Zones with sufficient data to analyze, median prices rose in 48% of the zoned areas by more than the national rate of gain from Q3 2018 to Q3 2019. Data Provider Black Knight to Acquire Top of Mind 2 days ago President Trump on Opportunity Zones: ‘It’s All Working’ Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Related Articles Share Save  Print This Post Tagged with: Opportunity Zones Trump Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img 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 Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Previous: Financial Services Committee Chair Denounces Volcker Rule Changes Next: African-American, Minority Homeownership Increases Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / President Trump on Opportunity Zones: ‘It’s All Working’ Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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Month: May 2021 U.S. Workforce Slowly Recovering with More Jobs

first_img The Best Markets For Residential Property Investors 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Chuck Green has contributed to the Wall Street Journal, Washington Post, Los Angeles Times, San Francisco Chronicle, Chicago Tribune and others covering various industries, including real estate, business and banking, technology, and sports.  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Chuck Green BLS COVID-19 unemployment rates US Economy 2020-11-06 Cristin Espinosa November 6, 2020 982 Views There appears to be a bit of bounce in the step of economic activity in the U.S. as total nonfarm payroll employment spiked by 638,000 in October, coupled by a 6.9% drop in the unemployment rate, according to the U.S. Bureau of Labor Statistics.The story behind the story? The BLS indicated the springboard in the labor market was indicative of ongoing resumption of economic activity that COVID-19 had cut into as well as the efforts to put a lid on it.A number of sectors, including leisure and hospitality, professional and business services, retail trade, and construction, also experienced notable job gains in October. Conversely, there was a drop off in employment in government.The household survey measures labor force status, including unemployment, by demographic characteristics, while nonfarm employment, hours, and earnings by industry are measured by the establishment survey.In October, all major worker groups saw a downslide in unemployment rates, including a rate of 6.7% among adult men; 6.5%, adult women; 13.9%, teenagers; 6.0%, whites; blacks, 10.8%;  7.6%, Asians; Hispanics, 8.8%.Meantime, the number of those on temporary layoff decelerated by 1.4 million to 3.2 million among the unemployed—down from the high of 18.1 million in April but 2.4 million higher than in February. In October, there were 3.7 million permanent job losers, which, while largely unchanged over the month, was 2.4 million higher than in February.“The economy is going through an uneven recovery, with employment still cutting a dividing line. For Americans who have jobs and have benefitted from remote work over the past eight months, additional savings and low interest rates are providing a moment of financial opportunity,” said Realtor.com’s Senior Economist, George Ratiu.For those who lost jobs, the expiration of enhanced paychecks combined with the end of unemployment insurance eligibility are creating a landscape of uncertainty and a looming crisis if nothing is done. Housing markets are mirroring this divided, K-shaped economy.  Along with a solution to COVID, housing accessibility and affordability will need to be near the top of the agenda for the incoming administration and legislature.”Added First American Deputy Chief Economist Odeta Kushi: “October’s jobs report shows continued economic improvement. The path of the economic recovery “is beholden to the path of the virus, and COVID cases have been on the rise, indicating new restrictions may be ahead.”Though nowhere near pre-pandemic numbers, jobless claims are dropping. California leads states in largest decline in decreases, according to DSNews.com.The total number of new weekly unemployment insurance claims fell below the 1 million mark for the first time since March, according to data released by the U.S. Department of Labor.Initial jobless claims for the week ending August 8 totaled 963,000, down from an upwardly revised 1.19 million one week earlier. Continuing claims for the week ending August 1 totaled 15.48 million, down from 16.1 million in the prior week.The largest increase in initial claims for the week ending August 1 was in Rhode Island with a relatively mild uptick of 87 new claims. The states that saw the largest decreases during that week were California (-22,610), Virginia (-19,048), Texas (-14,095), Florida (-13,176), and New Jersey (-11,489). California (-22,610), Virginia (-19,048), Texas (-14,095), Florida (-13,176), and New Jersey (-11,489). Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Tagged with: BLS COVID-19 unemployment rates US Economy Demand Propels Home Prices Upward 2 days ago U.S. Workforce Slowly Recovering with More Jobs Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Should Consumer Protections Account More for Fintech? Next: Forbearance Activity ‘Warrants a Close Eye” The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / U.S. Workforce Slowly Recovering with More Jobs Subscribelast_img read more

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Month: May 2021 FHFA Extends Foreclosure Moratorium

first_imgHome / Daily Dose / FHFA Extends Foreclosure Moratorium Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share 4Save Sign up for DS News Daily December 2, 2020 16,906 Views FHFA Extends Foreclosure Moratorium FHFA Wednesday announced the fourth extension of its foreclosure and eviction moratorium through “at least” January 31.This extension will continue the moratorium on single-family foreclosures and real estate owned (REO) evictions until at least January 31, 2021, according to a news release. It applies to GSE-backed, single-family mortgages only. (However, when the FHFA announced the previous extension, which was set to expire December 31, FHA soon followed suit.)FHFA says the REO eviction moratorium applies to properties that have been acquired by a GSE through foreclosure or deed-in-lieu of foreclosure transactions.“Extending Fannie Mae and Freddie Mac’s foreclosure and eviction moratoriums through January 2021 keeps borrowers safe during the pandemic,” said FHFA Director Mark Calabria. “This extension gives peace of mind to the more than 28 million homeowners with a [GSE]-backed mortgage.”According to a press release, FHFA at this juncture projects additional expenses of $1.1 to $1.7 billion for the GSEs due to the existing COVID-19 foreclosure moratorium and this extension. This is in addition to the $6 billion in costs already incurred.FHFA says it will continue to monitor the effect of coronavirus on the mortgage industry and update its policies as needed.In a previous statement, Fannie Mae said it “has taken a number of actions to help homeowners and renters facing financial hardship due to COVID-19. In addition to suspending foreclosures and evictions affecting homeowners, Fannie Mae extended eviction protections to multifamily renters when the property owner received a forbearance, reminded homeowners they are never required to repay missed payments after a forbearance period all at once, shared tips to help homeowners avoid foreclosure fraud or scams, and announced a new COVID-19 payment deferral option to help homeowners who are ready to resume their monthly mortgage payments following a COVID-19 forbearance.”These and other resources we make available are part of our ongoing Here to Help education effort, aimed at helping homeowners and renters impacted by COVID-19 understand the options available to them.”To understand the protections and assistance offered by the government to those having trouble paying their mortgage, please visit the joint Department of Housing and Urban Development, FHFA, and the Consumer Financial Protection Bureau website at cfpb.gov/housing.Homeowners can find out if they have an enterprise-owned mortgage by visiting  KnowYourOptions.com/loanlookup. 2020-12-02 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Previous: New Forbearance Requests, Re-entries Lead to Overall Increase Next: Real Estate Fund Designates $1 Billion to Communities of Color in Daily Dose, Featured, Government, News  Print This Post About Author: Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago 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 Subscribelast_img read more

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Month: May 2021 Gardai searching for another person recover man’s body in Killybegs

first_img NPHET ‘positive’ on easing restrictions – Donnelly A man’s body was taken from the water at Killybegs Harbour today– after a search was launched for a different person.The body taken from the water beside a slipway near the Garda station was of a 50-year-old man from the Glencolmcille area who was last sighted on Wednesday.Gardai said they were looking for another person at the time, a 91-year-old suffering from dementia who went missing from Killybegs Community Hospital about noon today.Gardai said they were investigating whether the body they found fell from a trawler. A spokesman said: “At this stage we are treating it as a drowning.” LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Gardai searching for another person recover man’s body in Killybegs RELATED ARTICLESMORE FROM AUTHOR Newsx Adverts Three factors driving Donegal housing market – Robinson Twitter WhatsApp Calls for maternity restrictions to be lifted at LUH By News Highland – January 20, 2012 Facebookcenter_img Pinterest Twitter Previous articleDerry City Traffic and Car Parking 3pm updateNext articleDonegal TD calls on Michael Noonan to apologise for emigration remarks News Highland WhatsApp Google+ Guidelines for reopening of hospitality sector published Pinterest Facebook Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more

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Month: May 2021 Cancer Care campaign groups welcome commitment to improve cancer services at Letterkenny General

first_img Previous articleNew sailing route should see more yachts visiting DonegalNext articleDaniel O’Donnell talks to Highland Radio on joining BBC’s Strictly Come Dancing News Highland Pinterest RELATED ARTICLESMORE FROM AUTHOR Facebook WhatsApp Homepage BannerNews Pinterest Twitter NPHET ‘positive’ on easing restrictions – Donnelly Cancer Care campaign groups welcome commitment to improve cancer services at Letterkenny General Facebook Twittercenter_img Nine Til Noon Show – Listen back to Wednesday’s Programme WhatsApp Google+ The Health Minister and the Soalta Hospital Group have today given a commitment to strengthen symptomatic breast cancer services at Letterkenny General Hospital.The news was delivered at a meeting today attended by Donegal Action for Cancer Care and Co-operating for Cancer Care Northwest.The groups were told that Letterkenny General’s breast cancer services will be developed to a world class level into the future.Speaking on behalf of both Cancer Care campaign groups, Noelle Duddy says it was a robust meeting and commitments given must be followed through on:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/08/noelllMEETING.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Three factors driving Donegal housing market – Robinson GAA decision not sitting well with Donegal – Mick McGrath Google+ By News Highland – August 20, 2015 Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector publishedlast_img read more

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