Tracking the Progress of GSE Single Security

first_imgHome / Daily Dose / Tracking the Progress of GSE Single Security Servicers Navigate the Post-Pandemic World 2 days ago Print This Post Demand Propels Home Prices Upward 2 days ago August 10, 2018 1,589 Views Tracking the Progress of GSE Single Security The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles About Author: Kristina Brewer Demand Propels Home Prices Upward 2 days ago Kristina Brewer is the Editorial Assistant of Publications for the Five Star Institute, including DS News and MReport magazine. She is a graduate of the University of North Texas (UNT), where she received her Bachelor of Arts in English with a concentration in rhetoric and writing and a minor in global marketing. During this time, she served as Director of Philanthropy in the national women’s fraternity Zeta Tau Alpha, of which she is an alumna. Her passion for philanthropy continued after university when she was an intern at Keep Denton Beautiful, a local partner of Keep America Beautiful, where she drove membership, organized events, and led social media campaigns. Brewer honed her writing at the North Texas Daily, UNT’s student-run newspaper where she wrote about faculty, mentorship, and student life. Brewer also previously worked at Optimus Business Plans where she helped start-ups create funding proposals, risk assessments, and management plans. 2018-08-10 Kristina Brewer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Since 2012, Fannie Mae and Freddie Mac have been working with the FHFA to create their common securitization platform (CSP) in order to manage the GSE’s securitization activities. These will eventually include the issuance of a single mortgage-backed security by both enterprises. The Urban Institute recently released a report covering this move, and its progress.A plan was developed to migrate Fannie Mae and Freddie Mac securitization functions to the CSP in two phases. The first phase, completed in 2016, covers functions related to data acceptance, issuance support, and bond administration for the issuance of Freddie Mac’s legacy fixed-rate, single-class securities. The second, scheduled to be completed in June 2019, would expand to handle the functions of the first, as well as several others, for issuance by both enterprises of a single mortgage-backed security, “including commingled resecuritizations of mortgage-backed securities already issued by Fannie Mae and Freddie Mac,” the report read. Fannie Mae issues more securities each year than Freddie Mac, which has shown to make their securities more valuable. In addition, Freddie Mac has had to offer discounts to lenders a discount on the fee it charges for its guarantee, costing the enterprise close to $500 million a year in lost revenue. With this continued subsidization, it has been difficult for the organization to compete with Fannie Mae on equal footing, resulting in an undermining of what little competition already exists in “a system already compromised by the dominance of a duopoly.”The unification of the two competing enterprises will result in a removal of that advantage, as well as make it easier for the transition into a system in which new competitors will raise the stakes. The unification would also allow for new entrants to overcome the monolithic advantage Fannie Mae would exert over the market. The report concludes with the Institute noting the difficulty this transition would pose on the enterprises and the industry. After six years of effort, the FHFA and GSEs have created and followed through from plan to action, with the most significant change left being able to convince the industry that this move to single security will happen and that the enterprises are ready to take it head-on.Read the full report here. Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, Headlines, Journal, News Sign up for DS News Daily Previous: BCFP Amends Consumer Privacy Regulation Next: Cloudvirga Partners with Radian Guaranty for Streamlined Processeslast_img read more

Digital Age Coming to Automated Compliance

first_img The Best Markets For Residential Property Investors 2 days ago About Author: Mike Albanese Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Print This Post Sign up for DS News Daily Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Americans Continue to Bet on Real Estate Investment Next: Up in the Air: Assisting Borrowers in Default Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articlescenter_img May 8, 2019 840 Views cloud technology Digital 2019-05-08 Mike Albanese ComplianceEase, a provider of automated compliance solutions to the financial services industry, announced that its ComplianceAnalyzer is now integrated with LendingPad, the cloud-based loan origination system (LOS) from WEI Technology LLC.With this integration, LendingPad users can perform real-time audits for regulatory compliance violations without leaving their LOS. ComplianceAnalyzer audits both first mortgages and home equity loan and lines for federal, state and local requirements, including state predatory lending issues; changes in terms and fees; audit tolerance across all disclosures and changed circumstances; and track post-consummation disclosures.”We designed LendingPad with the needs of today’s lender in mind,” said Wes Yuan, Managing Director of WEI Technology. “By integrating with the most comprehensive auditing solution in the market, we’re helping our lender customers not only ensure regulatory compliance, but also become more efficient.”“With origination volume down and costs to close up, lenders are looking to technology for a competitive edge,” said Sanjay Tibrewal, Senior Vice President of Product Management for ComplianceEase. “Our integration with LendingPad helps more lenders streamline compliance processes to help accelerate closing, deliver a better borrower experience, and ultimately grow their businesses.” The Best Markets For Residential Property Investors 2 days ago 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. Digital Age Coming to Automated Compliance Home / Featured / Digital Age Coming to Automated Compliance Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: cloud technology Digital Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Featured, Headlines, News Subscribelast_img read more

The Silver Lining: Natural Disasters and Tech

first_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Silver Lining: Natural Disasters and Tech The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Common pitfalls of cloud computing: On-premises apps do not always transfer since many older apps were not developed with cloud-based services in mind making it difficult to “forklift” them to the cloud with minimal or no changes.Lack of training and awareness: New development techniques and approaches require training and willingness to utilize new services. When cloud-based environments are required/requested, this may introduce challenges with IT staff.Lack of documentation and guidelines: Best practices require developers to follow relevant documentation and methodologies. Given the rapid adoption of evolving cloud services, this has led to a disconnect between the CSP and application developers on how to utilize, integrate, or meet vendor requirements. Complexities of integration: Integrating new applications with existing ones is a key part of transitioning to the cloud. When developers and operational resources do not have open access to supporting components and services, integrations can be complicated, and troubleshooting becomes difficult. Sign up for DS News Daily in Daily Dose, Featured, News, Print Features The USA felt the brunt of the world’s three costliest natural disasters in 2018 with damages totaling more than $46 billion. The deadly Camp Fire in California was number one, with Hurricanes Michael and Florence coming in second and third place. Those disasters may have monopolized the headlines, but there are so many more homes and businesses destroyed each year by tornadoes, flooding, and fires. With storm season right around the corner, many firms in the hurricane belt spend the first quarter of each year testing their business continuity/disaster-recovery plan (BCP/DR). All too often, however, firms assume they are in a “safe zone” and fail to adequately plan, prepare, and test.The reality is that no firm is in a “safe zone.” Natural disasters themselves are not necessarily what will put your business in a risky situation. These are the top causes of data loss or downtime during such events: Hardware failure (45%)Power loss (35%)Software failure (34%)Data corruption (24%)External security breaches (23%) Accidental user error (20%)The real costs associated with such data loss or downtime include: Reputational risk: Your clients rely on you to be operational and available. Incurring a significant outage implies a lack of planning and lack of proper infrastructure.Loss of productivity: If your payroll is $200,000 per month, every business day of downtime could cost you approximately $11,500. Legal risk: There are critical functions that must be performed within your practice. Certain tasks have an extremely high level of risk associated with them if you should miss even one (military search, hearing attendance, foreclosure sale attendance, etc.).While there are various statistics available on the subject, some studies indicate that 90% of companies without an effective disaster-recovery plan who suffer a major data disaster are out of business within one year. A Cloud ComparisonFor many years, firms have been apprehensive to use the mysterious “cloud” as a strategy in their BCP/DR plan or overall data management, largely due to perceived compliance concerns or a general lack of understanding as to how to choose the right solution. There are many drivers that may cause you to think about cloud computing as the best solution. They typically include: CostRisk reductionScalabilityAgility (mobility)Many are skeptical of cloud computing because of assumptions that it is less secure or carries greater risk. However, this theory can only be considered true if you have completed a direct and comprehensive comparison between the cloud provider’s environment and your on-premises infrastructure. Factors to be compared include:Technological componentsRisk-management processesPreventative, detective, and corrective controlsGovernance and oversight processesResilience and continuity capabilities Multi-factor authenticationUntil you have had an expert truly weigh your internal environment against the cloud, it would be premature to assume one is safer than the other. What’s Your Plan?Regardless of whether you choose the cloud as part of your strategy or not, you need an effective plan. When putting together an effective BC/DR solution, you must start with the basics:Know specifically what assets are important (data and processing).Consider the current location of assets (on-premises, co-location facility, cloud service provider).Understand the details of the network connection between the assets and the processing sites. Having a reliable cloud computing site that you cannot reach because your ISP has failed does not provide you the coverage you need Know your requirements and understand your environment: Whether you handle your own backups, use a cloud service provider (CSP), or a combination of both, your objective is to ensure you are protected against the risk of data not being available or business processes not functional, leading to a breach of your service level agreements, lost revenue, and damaged client relationships. It is important that you understand the specific requirements set forth by your clients. They include: Recovery Point Objective (RPO), which helps determine how much information must be recovered and restored. It includes asking questions such as, “Is it okay to have quick access to your case data and documents, even if your non-case-related documents are not available for several days or are lost altogether?” What do your clients require? Recovery Time Objective (RTO) is a measure of how quickly you need each system to be up and running in the event of a disaster or critical failure.Recovery Service Level (RSL) is a percentage measurement of how much computing power is necessary based on the percentage of the production system needed during a disaster.Data Replication: Maintaining an up-to-date copy of the required data at a different location can be done on a few technical levels and with varying degrees of granularity. It is important to know your replication requirements. For example, data can be replicated at the block level, file level, or database level. Replication can be in bulk, on the byte level, via file synchronization, database mirroring, daily copies, etc. Each alternative impacts your RPO/RTO and has varying costs including bandwidth requirements. Functionality Replication: This includes the ability to re-create processing capabilities at a different location. Depending on the risk to be mitigated and the scenario that’s chosen, this could be as simple as selecting an additional deployment zone or as involved as performing an extensive rearchitecting. Examples of simple cases are environments that are already heavily virtualized. The relevant VM images can then simply be copied, where they would be ready for service restoration on demand.An ideal infrastructure cloud service provider will likely have the application architecture described and managed in an orchestration tool or other cloud infrastructure management system. With these, replicating the functionality can be a simple activity.The worst recovery-elapsed time is probably when functionality is replicated only when disaster strikes. A better solution is the active-passive form, where resources are held on standby. In active mode, the replicated resources are participating in the production. Planning, Preparing and Provisioning: This is the functionality around processes that lead up to the actual DR failover response. The most important factor in this category is adequate monitoring so that more time is available. Failover Capability: Appropriate load balancing is required to ensure that redirection of the user service requests occurs properly and in a timely manner. Smarter SolutionsIt is easy to see why many firms elect to make the cloud part of their solution. According to the 2017 Legal Technology Survey from the American Bar Association, cloud usage grew more than 40% from 2016 to 2017, from 37% to just over 52%. If you are ready to make that move, there are some things you need to consider.Assessing the risks associated with a cloud service provider (CSP) The elasticity of the CSP: Can the CSP provide all the resources if BCDR is invoked?Contractual issues: Will any new CSP address all contractual issues and SLA requirements?Available network bandwidth for timely replication of data.Available bandwidth between the impacted user base and the BCDR locations.Legal and licensing constraints that could prohibit the data or functionality to be present in the backup location. Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Jan Duke is the COO and lead consultant at a360 Firm Solutions. She provides strategic leadership for the company and utilizes her extensive industry experience to create customized solutions to resolve operational challenges for clients. Her primary focusis consulting in the areas of management, business-process improvement and technology. She also oversees business development efforts, solutions delivery, and provides operational leadership guidance. Servicers Navigate the Post-Pandemic World 2 days agocenter_img Make sure your CSP has service level agreements that align with your needs:Availability (for example, 99.99% of services and data)Performance (expected response times versus maximum response times)Security and privacy of the data (encrypting all stored and transmitted data)Logging and reporting (audit trails of all access and the ability to report on key requirements and indicators)DR expectations (worse-case recovery commitment, RTOs, the maximum period of tolerable disruption)Location of the data (ability to meet requirements or consistent with local legislation)Data format and structure (data retrievable from the provider in a readable and intelligent format)Portability of the data (ability to move data to a different provider, or to multiple providers)Identification and problem resolution (help desk/service desk, call center, or ticketing system)Change-management process (updates or new services)Exit strategy with expectations on the provider to ensure a smooth transition The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: GSE NPL Sales: Working Toward ‘Favorable Outcomes for Borrowers’ Next: A Look at Securitized Trusts and Diversity Jurisdiction Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago June 18, 2019 1,285 Views The cloud is the future, but it must be embraced wisely. Print This Post Home / Daily Dose / The Silver Lining: Natural Disasters and Tech 2019-06-18 Seth Welborn About Author: Jan Duke Subscribelast_img read more

Fed Rate Drop Ahead?

first_img Fed Rate Drop Ahead? Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Share Save July 29, 2019 2,065 Views Sign up for DS News Daily About Author: Mike Albanese Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Fed Interest rates Mortgage Rates Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Combating Urban Blight With Cheap Homes in Detroit Next: S&P Reaffirms Computershare Loan Service’s Ranking Home / Daily Dose / Fed Rate Drop Ahead? A new report issued by WalletHub found that there is a 78% chance the Fed drop interest rates on July 31, and that mortgage rates will fall if they do. According to WalletHub, there is a 78% chance interest rates could drop 25 basis point, and a 21.4% chance they would drop 50 basis points, and 72% of those surveyed would be in favor of cut to interest rates. Also, 48% of respondents said they would be more confident in the economy if the Fed cut the rates. The impact on housing, according to those who answered the survey, was that 44% felt their mortgage payment would be less expensive if rates are cut. Credit cards followed at 29%. WalletHub states “we won’t see much of a chance” if a rate cut is decided in July, as the mortgage markets have accounted for the move. “Mortgages have fixed rates that are priced with a far longer timeframe in mind than other borrowing vehicles,” the report stated. “However, that is not to say Fed rate changes don’t make mortgages more or less expensive for new borrowers.”WalletHub’s estimates a rate cut could drop the cost of mortgage by around 10 basis points. The Fed has cost the average homebuyer more than $38,000 since 2015, assuming an 80-basis point rise on a 30-year fixed rate mortgage from January 2015 to January 2019. WalletHub states that increase is due solely to the nine Fed rate increase occurring during that time. A rate could be what the market needs, as CNBC reported last week that the overall volume of mortgage applications for the week fell 1.9%. The volume, however, is still 34% higher than it was last year, and the average rate for a 30-year fixed rate mortgage fell to 4.08%. Also declining this week was refinance applications, which fell 2%, but 81% higher than in 2018.Declines could also be fell in home sales, as the National Association of Realtors (NAR) stated that existing-home sales fell by 1.7% in June month-over-month, to a seasonally adjusted annual rate of 5.27 million. Additionally, half of the major U.S. regions recorded minor sales jumps while the other half experienced greater declines. The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago Fed Interest rates Mortgage Rates 2019-07-29 Mike Albanese The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 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. Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Ocwen Financial Addresses COVID-19 Concerns

first_img About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago April 6, 2020 2,201 Views 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 Coronavirus Ocwen 2020-04-06 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 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 Tagged with: Coronavirus Ocwen 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. Home / Daily Dose / Ocwen Financial Addresses COVID-19 Concerns Sign up for DS News Daily center_img Ocwen Financial Corporation has provided an update on its actions to address the COVID-19 pandemic, as well as its liquidity, mortgage originations, mortgage servicing rights (MSR) valuations and 2020 earnings guidance in the context of the COVID-19 pandemic.“As the COVID-19 pandemic continues to impact our communities, our first priority is safeguarding and supporting our employees and maintaining business continuity so that we can continue providing service and support to our clients and customers,” said Glen A. Messina, President and CEO of Ocwen. “Approximately 85% of our global team is working remotely, we are following guidelines established by the CDC and WHO and from the local governments where we operate, and we are committed to helping borrowers experiencing hardships wherever possible, including from the COVID-19 pandemic.”Messina continued, “We are executing on our strategic plans while navigating the current landscape with commitment and focus. As of March 31, 2020, we had approximately $264 million in unrestricted cash, and we currently expect to be in compliance with all of our financial covenants under our debt agreements at the end of the first quarter. The duration and magnitude of the COVID-19 impact is uncertain and we anticipate that the impact to our business will be largely determined by the number of homeowners who need assistance and the duration of assistance needed. We are proactively working with industry trade groups, the Agencies and our regulators to support their efforts on stabilizing the housing finance system in response to what may be an unprecedented level of requests for assistance from homeowners impacted by the COVID-19 pandemic.”Ocwen is evaluating the potential impact of COVID-19 related borrower job losses and reductions in income, as well as other related impacts as it assesses the timing and magnitude of potential increases in servicer advance levels and servicing costs based on increased borrower delinquency levels, among other factors that could affect its liquidity and financial condition assessments. The company is communicating with Fannie Mae, Freddie Mac, Ginnie Mae, and its lenders, including with respect to the potential impact of borrower assistance programs on its business. Ocwen is working with mortgage industry trade associations who are working with government officials to inform them of the impact of borrower relief programs on the funding and liquidity needs of the housing finance industry and to assist them in designing appropriate solutions to navigate the challenges of the current environment. Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Ocwen Financial Addresses COVID-19 Concerns Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Print This Post Previous: Federal Reserve Announces Additional Relief Measures Next: Coronavirus Could Halt Mortgage Payments Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

The Future of Auction Sales

first_imgHome / Daily Dose / The Future of Auction Sales Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Future of Auction Sales Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Bracing for Household Debt Spikes Next: Lender Agrees to Pay $15.06M to Resolve Allegations Editor’s note: This feature originally appeared in the April issue of DS NewsDespite dark clouds rapidly forming in the U.S. economy and housing market in early 2020, demand for distressed properties has—at least thus far—remained relatively undeterred.In fact, proprietary data from Auction.com shows that buyer demand in the distressed market has actually increased in the first quarter of 2020 compared to a year ago.More than 40% of all properties brought to foreclosure auction via the Auction.com platform in January were sold to third-party buyers—typically local real estate investors. That foreclosure sales rate jumped 21% from a year ago to a 29-month high. Preliminary data from February and the first half of March show the foreclosure sales rate on track to continue its year-over-year increases in those months as well.Shift to Online AuctionsOf course, far-reaching national foreclosure moratoriums along with widespread local court closures all coalescing around the middle of March mean that foreclosure auction sales will largely grind to a halt well into the second quarter. And rightly so, given the need to avoid unnecessary foreclosures caused by this unprecedented crisis, along with the health risks inherent in a traditional foreclosure auction: a public gathering of dozens if not hundreds of people.But the slowdown in foreclosure sales in Q2 2020 will be more about a temporary slowdown in supply rather than a dampening of demand for distressed properties. That’s evident in website traffic and bidding for online auctions of bank-owned (REO) properties on the Auction.com platform.Website traffic to online REO auction properties accounted for more than 50% of all traffic to individual property pages on Auction.com on March 18—the first time above 50% so far this year. This indicates buyers are shifting to online auctions to acquire distressed properties as inventory at in-person foreclosure auctions dries up—not to mention the added convenience and health benefits buyers get from buying online.“With what we’re seeing now with the coronavirus, which will go away at some point, it makes sense to stay at home,” said a Portland, Oregon-based buyer who buys online REO auction properties remotely in Albuquerque and Las Vegas.The shift toward remote buying of distressed properties means that REO homes available via online auction are attracting more competitive bids. So far in the first quarter, through the middle of March, 89% of online REO auction properties sold on the Auction.com platform have received bids from multiple, competing bidders, up from the previous quarter and a year ago to the highest level as far back as data is available, Q3 2017.Countercyclical Buyer DemandInnovation such as the online auction—not widely used in the retail housing market—is enabling remote buying in the distressed marketplace, and thereby helping to bolster demand even in a season of social distancing. But in addition to technology that enables remote buying—more on that shortly—distressed market demand is also benefiting from the countercyclical propensity of many real estate investors who want to “buy the dip.”“I’ve been preparing for that,” said Denver-based real estate investor Bijan Green. He said he purchased 25 properties in 2019, primarily via online REO auction, and has been saving up cash to buy even more in 2020. “Everybody who is a real investor is waiting around to see ‘When can I buy again?’. Some of the guys that have been in the game for 30 or 40 years that have been dormant, they will start to come in to buy.”The countercyclical propensity of real estate investors was evident during the Great Recession of 2008. Although buyers at foreclosure auction began pulling back on their purchases before the recession hit, the sales rate at foreclosure auction began skyrocketing in late 2008—even while retail home prices continued to drop by double-digit percentages.By the end of 2009, the national foreclosure auction sales rate reached 20.3%, not far below its 22.2% pre-crash peak in Q3 2004. Meanwhile, national median home prices continued their descent for another two years before bottoming out in the first quarter of 2012.During this uncertain time in the retail real estate market, high-volume investors like Tampa-based Lee Kearney were on a buying spree at the foreclosure auction in anticipation of a market recovery. It’s a strategy Kearney plans to employ again in another downturn.“I’m going to go into extreme buying mode when defaults increase and everybody hates real estate,” said Kearney, CEO of Spin Companies, a group of real estate investing businesses. “I believe the opportunity is going to be in the areas with high concentrations of FHA (Federal Housing Administration-backed loans) in the last two years.”Remote Bid ExpansionWhile online REO auctions have quickly become the darling of distressed property buyers given the specific challenges of the coronavirus crisis, new technology being unveiled somewhat serendipitously in the midst of the crisis will eventually expand the pool of distressed inventory available to buy remotely.The process of building the remote bid program for foreclosure auctions began more than a year ago, long before the current health and market turbulence. It was built to provide buyers with even better access to more distressed inventory while also giving mortgage servicers an even more competitive marketplace in which to sell distressed inventory.“We present proof of funds ahead of time as high as we’re going to bid and then we bid online,” said the Portland, Oregon investor. “That (will) net the sellers 20% more I think.”Distressed Price Appreciation Outpacing RetailInnovation like remote buying combined with a broad base of buyers—including many countercyclical buyers—has translated into the distressed marketplace consistently outperforming the retail marketplace in terms of price appreciation. The average price for foreclosure sales via the Auction.com platform in January was up 11.2% from a year ago—nearly twice the 6.5% rate of appreciation in the larger retail market, according to an analysis of average sales prices in Multiple Listing Service (MLS) data.January marked the 33rd consecutive month where annual price appreciation for Auction.com foreclosure auctions outperformed price appreciation in the larger retail market, according an analysis of public record data from ATTOM Data Solutions. Preliminary data from February and March show those months also on track to see strong year-over-year appreciation in average foreclosure sales price.Responsible Return to RetailA distressed marketplace with broader access to inventory and more competition for that inventory is generally better for both buyers and sellers; however, a responsible distressed marketplace also needs to consider impact on neighborhood stabilization.Distressed properties are inherently destabilizing to a neighborhood because they typically are properties with deferred maintenance and unpaid property taxes. This creates a drag on surrounding home values and lowers revenue for local government services. The more efficiently a distressed property can be rehabbed to full retail value and returned to a new homeowner or tenant, the more stabilizing effect it has on the surrounding neighborhood.The vast majority of real estate investors buying distressed properties are quickly and responsibility rehabbing the homes and getting them into the hands of owner-occupants within a year, according to an Auction.com analysis of more than 164,000 properties brought to foreclosure auction in 2018 and 2019.Among properties that sold to third-party buyers at the auction and then subsequently resold, 69% were owner-occupied within a year. Additionally those properties gained an average 23 percentage points in value between the foreclosure auction and the resale, based on an analysis of sales price to a full “after repair” automated valuation model.Most investors are also responsibly rehabbing the roughly 30% of homes that are purchased at foreclosure auction and then held as rentals. According to the Auction.com survey, 45% of buyers who hold properties as rentals said they budget at least 20% of the purchase price for rehab costs, and an additional 36% said they budget 10 to 20%.Lastly, during the national emergency precipitated by the coronavirus crisis, Auction.com is requiring all buyers on its platform to sign a pledge that they will refrain from commencing any evictions during the 60-day federally mandated moratorium on evictions. April 29, 2020 3,432 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Foreclosure, Loss Mitigation, Market Studies, News, Print Features The Best Markets For Residential Property Investors 2 days ago Print This Post Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Auction Distressed Sales 2020-04-29 Seth Welborn Daren Blomquist is VP of Market Economics at Auction.com. In this role, Blomquist analyzes and forecasts complex macro- and microeconomic data trends within the marketplace and greater industry to provide value to both buyers and sellers using the Auction.com platform.Blomquist’s reports and analysis have been cited by thousands of media outlets nationwide—including all the major news networks and leading publications such as the Wall Street Journal, the New York Times, and USA TODAY. Blomquist has been quoted in hundreds of national and local publications and has appeared on many national network broadcasts, including CBS, ABC, CNN, CNBC, FOX Business, and Bloomberg. Demand Propels Home Prices Upward 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Daren Blomquist Tagged with: Auction Distressed Sales The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

John Mc Areavey interjects in court as defence opens its case

first_img Google+ WhatsApp By News Highland – June 25, 2012 Facebook Pinterest Previous articleFindings of 90k report into controversial council project to be kept secretNext articleAthletics – Five From Donegal Confirmed For World Juniors News Highland The widower of Michaela McAreavey was heard to mutter the word “lies” today as a lawyer for one of the men on trial for her murder opened the case for the defence.The trial of two local hotel workers – Avinash Treebhoowoon and Sandip Moneea – is now in its sixth week.They’re accused of murdering the 27 year old Tyrone teacher at the legends Hotel in Mauritius while she was on honeymoon with her husband John last January.Both men deny the charges.Irish Independent Journalist Cormac McQuinn was at today’s hearing…….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/06/14mcqu1.mp3[/podcast] Twitter Calls for maternity restrictions to be lifted at LUH Facebook WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this weekcenter_img Newsx Adverts NPHET ‘positive’ on easing restrictions – Donnelly Google+ Twitter John Mc Areavey interjects in court as defence opens its case Three factors driving Donegal housing market – Robinson LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Guidelines for reopening of hospitality sector published RELATED ARTICLESMORE FROM AUTHORlast_img read more

Search continues for American women missing in Glen Head area

first_img Google+ By News Highland – September 19, 2011 A search is continuing this morning for an American woman who has gone missing in the Glen Head area.The 41-year-old tourist had been staying at a hostel in Glencolmcille, she hasn’t been seen since she went for a walk on Saturday evening.A search was carried out in and around Sliabh League yesterday, but the woman’s exact location isn’t known.The search was carried out by Donegal Mountain Rescue and a number of locals on quad bikes, a request as also be made for the Sligo Coastguard to assist with the search.The PRO of Donegal Mountain Rescue is Brian Murray……[podcast]http://www.highlandradio.com/wp-content/uploads/2011/09/bri830.mp3[/podcast] Twitter RELATED ARTICLESMORE FROM AUTHOR Twitter Facebook Search continues for American women missing in Glen Head area Three factors driving Donegal housing market – Robinson Previous articleTwenty-four Garda stations to close in Donegal?Next articleDerry City manager Stephen Kenny fined in court for speeding News Highland Google+ Calls for maternity restrictions to be lifted at LUH center_img Pinterest Pinterest WhatsApp Guidelines for reopening of hospitality sector published Facebook NPHET ‘positive’ on easing restrictions – Donnelly LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton News WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more

Tens of thousands turnout for water charges protest in Dublin

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Guidelines for reopening of hospitality sector published By News Highland – December 10, 2014 Tens of thousands of people have turned out in Dublin for a mass protest against water charges.Traffic is being restricted across the capital for the demonstration by the Right 2 Water campaign – which will continue until 4 o’clock this afternoon.TD’s taking part say the protest is a message to the Government that the people have had enough austerity – and a General Election should be called.Crowds have been gathering outside Leinster House here for several hours – with protesters making their way from across the country many from Donegal. As many as 20 busloads left the county this morning.Gardaí say tens of thousands are taking part – while the Right 2 Water campaign have put the figure at 100-thousand.The centrepoint of the protest is a stage set-up at Merrion Square – where figures including Sinead O Connor and the Detroit Water Brigade from the US will speak to the crowd. Google+ Twitter GAA decision not sitting well with Donegal – Mick McGrath Pinterest RELATED ARTICLESMORE FROM AUTHOR WhatsApp Calls for maternity restrictions to be lifted at LUH Facebookcenter_img Homepage BannerNews WhatsApp Pinterest Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook Twitter Tens of thousands turnout for water charges protest in Dublin Previous articleDonegal airport to receive almost €500,000 in Government fundingNext articleNew laws not needed to deal with legal challenges to the GoSafe speed cameras News Highland Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Mc Conalogue criticises government for refusing to intervene in tillage crisis

first_img Twitter Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Almost 10,000 appointments cancelled in Saolta Hospital Group this week The Government has been criticised over its decision to rule out crisis funding for tillage farmers.The issue was raised in the Dail by Donegal Deputy Charlie McConalogue with Minister Michael Creed, with the Minister defending the government’s response to the crisis.That’s a stance described by Deputy Mc Conalogue, the Fianna Fail agriculture spokesperson as “extraordinary”It has been claimed that the North West region has been worst effected this year in terms of failed crops and poor land due to adverse weather.Deputy McConalogue says the decision leaves farmers in a desperate situation:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/12/charlietillage.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. By admin – December 2, 2016 Pinterest WhatsApp RELATED ARTICLESMORE FROM AUTHOR 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Google+ Facebookcenter_img Pinterest WhatsApp Homepage BannerNews Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Minister McConalogue says he is working to improve fishing quota Previous articlePSNI announce details of Derry Road closures ahead of “Lundy’s Day”Next articleA5 improvements set to proceed after second legal challenge is dismissed admin Need for issues with Mica redress scheme to be addressed raised in Seanad also Mc Conalogue criticises government for refusing to intervene in tillage crisis Twitterlast_img read more