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House Subcommittee to Hold Second Hearing on FHA’s Financial State

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first_img Demand Propels Home Prices Upward 2 days ago The second in a series of hearings to examine the financial health of the Federal Housing Administration (FHA) will take place next week in Washington, D.C., according to an announcement on Friday from the chairman of the House Committee on Financial Services, Representative Jeb Hensarling (R-Texas).The Housing and Insurance Subcommittee of the House Committee on Financial Services will hold the second hearing in the series, entitled The Future of Housing in America: Oversight of the Federal Housing Administration, Part II, on Thursday, February 26, beginning at 10 a.m. Eastern time. Witnesses for the hearing will be announced next week.The first hearing in the series took place on February 11 in the House Committee on Financial Services, where U.S. Housing and Urban Development (HUD) Secretary Julián Castro testified before Congress for the first time since being appointed to that position in July 2014.Republicans on the HFS Committee grilled Castro in that hearing on the FHA’s financial state, and in particular the Mutual Mortgage Insurance (MMI) Fund, which reported a capital reserve ratio of 0.41 percent in November – less than a quarter of its required 2 percent level. Castro repeatedly praised the fund’s recent growth, predicted that the MMI fund would reach that 2 percent level within two years, and defended FHA’s recent lowering of the mortgage insurance premiums by 50 basis points down to 0.85 percent.Representative Blaine Luetkemeyer (R-Missouri), the chairman of the Housing and Insurance Subcommittee, was one of the most vocal critics of FHA’s policies during last week’s hearing.”Today’s testimony from Secretary Castro was disconcerting to say the least,” Luetkemeyer said in a statement following Castro’s testimony to the Committee. “The Secretary’s answers were as inconsistent and alarming as FHA’s policies. It is clear to me that this agency suffers from not only misguided policy but also mismanagement. FHA continues to try to grow its way out of a problem, and it is putting the American taxpayers at risk. FHA today holds less than one quarter of the capital it is statutorily required to hold in the Mutual Mortgage Insurance Fund. When you remove the 2013 taxpayer bailout of $1.7 billion and billions of dollars more in Justice Department settlements, the capitalization of the fund falls to .08 percent. If a private company operated the way FHA operates, it would be shut down.”Also next week, according to Hensarling’s announcement on Friday, there will be a full Committee hearing to receive the semi-annual report on Monetary Policy and State of the Economy from Janet Yellen, chair of the Federal Reserve. That hearing will take place Wednesday, February 25, starting at 10 a.m. Eastern time. House Subcommittee to Hold Second Hearing on FHA’s Financial State About Author: Brian Honea Federal Housing Administration FHA House Committee on Financial Services Housing and Insurance Subcommittee 2015-02-20 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February 20, 2015 973 Views Related Articles 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. Previous: Default Risk Index For Agency Purchase Loans Hits Series High Next: Leading Economic Indicators Grow at Moderate Pace The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / House Subcommittee to Hold Second Hearing on FHA’s Financial State  Print This Post Tagged with: Federal Housing Administration FHA House Committee on Financial Services Housing and Insurance Subcommittee The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

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Banks Can Expect a Change in Long-Term Strategy Due to Low Interest Rates

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first_img 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Banks Can Expect a Change in Long-Term Strategy Due to Low Interest Rates in Daily Dose, Featured, Market Studies, News Banks Federal Funds Target Rate Federal Reserve 2015-10-28 Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Banks Can Expect a Change in Long-Term Strategy Due to Low Interest Rates Subscribe U.S. banks can expect their long-term business strategies to continue to be affected by the “lower-for-longer” interest rate environment that Fed officials have placed the industry in.As the Federal Open Market Committee (FOMC) reconvened Wednesday, results from their October 27th and 28th meeting placed yet another hold on the rate hike, leaving the federal funds rate at the current 0 to 1/4 percent target range.With just one more meeting left this year in December, the Fed has just one last opportunity to raise rates, but many are wary that it will may not occur this year.”To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate,” the statement said. “In determining whether it will be appropriate to raise the target range at its next meeting, the Committee will assess progress—both realized and expected—toward its objectives of maximum employment and 2 percent inflation.”While waiting for the Fed to raise rates, banks will likely place “additional focus on cost controls to improve operating efficiencies and extend balance sheet duration” to reduce margin compression, according to a recent report from Fitch Ratings. Bank margins have fallen to 3.02 percent as of the first quarter of 2015, the lowest average since 1984, the Federal Deposit Insurance Corporation said.”While many banks have already laid out and executed cost-cutting initiatives, Fitch anticipates further efforts to reduce operating costs and improve operating leverage,” the report stated. “These decisions come at time when many banks have been significantly investing in operational infrastructure to bolster regulatory compliance as well as technology in order to defend against ongoing cyber security threats but also to improve customer experience.When the Fed decides to make a move on rates, Fitch believes there are variables that may affect earnings and capital positions for banks in a higher rate environment.Fitch concluded that it “does not expect significant ratings movements due to rate risks. However, should some banks not be as asset-sensitive as assumed, or should some liquidity or capital be relatively and adversely affected more than others, there could be select negative pressure on ratings.”Click here to view the full report. Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img October 28, 2015 987 Views About Author: Xhevrije West Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Previous: Ocwen Experiences Tough Q3 Punctuated by Layoffs and $66 Million Net Loss Next: DS News Webcast: Thursday 10/29/2015 Tagged with: Banks Federal Funds Target Rate Federal Reserve Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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Shrinking REO Inventory Drives Down Cash Sales Share

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first_imgSubscribe Tagged with: Cash Sales Share CoreLogic distressed properties REO properties Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles A continuing decline in distressed inventory nationwide, particularly REO properties, has resulted in an accompanying continuing decline in the percentage of home sales that are all-cash transactions, according to data released Thursday by CoreLogic.At their peak in January 2011, cash sales accounted for nearly half of all residential home sales in the United States (46.5 percent). Since then, that percentage has steadily declined; in August 2015, it was reported at 31.7 percent, less than one-third of all home sales—a decline of more than 3 percentage points from August 2014, when it was 34.9 percent.As has been the historical trend, REO sales made up the largest share of cash transactions at 57.9 percent in August 2015, followed by resales (31.1 percent), short sales (29 percent), and new home sales (15.5 percent). Despite comprising more than half of all cash home sales, REO’s share of all residential home sales remained low in August at 6 percent—about one-quarter off of their peak in January 2011, when they accounted for about 23.9 percent of all home sales. Resales account for about 82 percent of all home sales and have the largest impact on the total cash sales share, according to CoreLogic.”Distressed sales (REO and short sales) typically sell at a price discount, with REO selling at the steeper discount,” CoreLogic Chief Economist Frank Nothaft said. “The discounts are attractive to investors, who can buy with less cash than if the house sold at full/market price, as would generally be the case with a resale or new construction.  Thus, the drop in REO sales is a primary cause of the declining cash share.”Investors typically make up the largest share of all-cash buyers, but their share of all home sales is also declining.“It’s also true that investors are buying a smaller share of all homes, but that may be related to the decline in REO inventory on the for-sale market,” Nothaft said.CoreLogic estimates that if the cash sales share continues its rate of decline experienced in August 2015, it will be back to its “normal” pre-crisis average of 25 percent by the middle of 2017.Despite the consistently declining cash sales share nationwide, the share remains high in some states—in the case of Alabama, the cash sales share was higher than the nationwide January 2011 peak with 47.6 percent in August 2015. Florida (45.2 percent), New York (42.4 percent), West Virginia (39.5 percent), and Missouri (39.5 percent). In some of the nation’s largest metro areas, the cash sales share was more than half: Miami (51.7 percent) had the highest, followed by Philadelphia (51 percent), West Palm Beach (50.8 percent), North Port-Sarasota-Bradenton, Florida (48.5 percent), and Fort Lauderdale (47.7 percent). Cash Sales Share CoreLogic distressed properties REO properties 2015-11-19 Brian Honea The Best Markets For Residential Property Investors 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Shrinking REO Inventory Drives Down Cash Sales Share About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, REO Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Demand Propels Home Prices Upward 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 Sign up for DS News Daily Home / Daily Dose / Shrinking REO Inventory Drives Down Cash Sales Share Data Provider Black Knight to Acquire Top of Mind 2 days ago November 19, 2015 1,368 Views Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Fannie Mae Forecasts Economic Growth Despite Global Headwinds Next: Senator Bob Menendez Wants Answers From FHFA Director Wattlast_img read more

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What Factors are Holding Back Housing?

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The Best Markets For Residential Property Investors 2 days ago Subscribe in Daily Dose, Featured, Market Studies, News 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. March 29, 2016 9,769 Views About Author: Xhevrije West Existing-home sales have suffered in recent months due to the continuous imbalance of extremely low inventory levels and rapid home price appreciation, and industry experts believe that this trend will not end anytime soon.Ten-X’s Residential Real Estate Nowcast expects existing-home sales to perform better in March with a 4.8 percent increase from the previous month and a 2.6 percent year-over-year increase. The company projects that sales will fall between seasonally adjusted annual rates of 5.15 and 5.55 million, with a targeted number of 5.32 million.“Though U.S. home sales have seen significant volatility in recent months due to external factors, sales remain at a high overall level,” said Peter Muoio, Ten-X Chief Economist. “The housing market stands on solid ground despite global economic volatility and weaker U.S. GDP growth, with the firmer labor market and enhanced household budgets from low oil providing a boost to consumer confidence.”Rick Sharga, Ten-X’s EVP, does not believe that existing-home sales will normalize anytime soon with inventory shortages prevalent in the market.“Both January and February home sales were slightly better than a year ago, and our Nowcast predicts that March will continue that trend,” Sharga said. “But inventory levels remain low, and home price appreciation continues to outpace wage growth. These factors suggest that, even with mortgage rates near their historic lows, a return to more ‘normal’ levels of home sales is still off in the distance.”The National Association of Realtors (NAR) reported that existing-home sales fell in February 2016 after reaching the highest annual rate in six months in January. The report found that existing-home sales decreased 7.1 percent to a seasonally adjusted annual rate of 5.08 million in February from 5.47 million in January. However, the report noted that despite last month’s large decline, sales remain 2.2 percent higher than a year ago.The existing-home sales report from NAR for January 2016, showed that lenders are well on the path to recovery from TRID delays.  The report found that existing-home sales increased 0.4 percent to a seasonally adjusted annual rate of 5.47 million in January from a downwardly revised 5.45 million in December. Existing sales are now 11.0 percent higher than a year ago, the highest annual rate in six months and the largest year-over-year gain since 16.3 percent July 2013.”The overall demand for buying is still solid entering the busy spring season, but home prices and rents outpacing wages and anxiety about the health of the economy are holding back a segment of would-be buyers,” said Lawrence Yun, NAR Chief Economist.The decline in existing-home sales in February did not slow down home price appreciation. According to the NAR, the median existing-home price in February was $210,800, up 4.4 percent from last February’s median price of $201,900. This marks the 48th consecutive month of year-over-year gains. Home prices fell within Ten-X’s range of $209,607 to $231,671 predicted in last month’s Nowcast. Now, Ten-X expects that sales prices for existing homes will fall between $209,207 and $231,229 for March with a targeted price of $220,218, representing 4.5 percent month-over-month and year-over-year gains.  Print This Post Sign up for DS News Daily Related Articles Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago 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 Tagged with: Existing Home Sales Housing Market Ten-X Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago What Factors are Holding Back Housing? Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Yellen is Dovish on Future Rate Hikes Next: Pro Teck Introduces Intelligent Quality Control Solution for Appraisers Home / Daily Dose / What Factors are Holding Back Housing? Existing Home Sales Housing Market Ten-X 2016-03-29 Brian Honea read more

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Veros VeroPACE Will Help PACE Lenders With Compliance

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first_img Company News PACE Property Assessed Clean Energy VeroPACE Veros Veros Real Estate Solutions 2018-03-05 David Wharton  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Previous: Dworbell, Inc. Adds Eddie Seiler as VP Next: The Opportunities and Challenges of Blockchain in Mortgage Servicing in Featured, Headlines, Journal, News Veros Real Estate Solutions (Veros), a Santa Ana, California-based provider of data, analytics, and technology for the mortgage banking industry, has developed a solution for lenders specializing in PACE (Property Assessed Clean Energy) loans in the state of California, where new compliance requirements went into effect on January 1, 2018.VeroPACE, available through the VeroSELECT ordering platform, will generate, analyze, rank, and report the multiple Automated Valuation Models (AVMs) now required for PACE lending by California State Assembly Bill 1284 and the companion State Senate Bill 242.”The passage of this legislation significantly changed the valuation process for PACE loans, which are used to finance greater energy efficiency in homes,” said Veros VP of Sales Rob Walker. “Historically lenders could process a PACE loan in California using the results of a single AVM, but they now need three AVMs and must use a new method of calculating the final value.”AB 1284 intends to enhance PACE underwriting by requiring lenders to obtain the three AVMs from a third-party vendor, then choose the one with the highest confidence score and calculate the midpoint of that AVM’s high-low value range. The resulting value, combined in a report with data from the three AVMs, becomes the valuation submitted with the PACE loan application.”Ordering three AVMs on the same property can be difficult,” Walker added. “And because different AVM providers have different methods of producing confidence scores and values, the mid-range requirement has presented some significant challenges for many PACE lenders. Also, if lenders cannot get three AVMs, they have to get an appraisal, which will add time and cost to the loan application process. To combat this, lenders need to achieve high AVM hit rates.””The good news for PACE lenders who are struggling with this new compliance requirement is that VeroPACE handles the entire process for them,” said Luke Ziegenmeyer, Director of Product Management at Veros. “And, if need be, we have an optional add-on for VeroPACE users that can facilitate the request and delivery of appraisals as well.”When VeroPACE is ordered through the VeroSELECT platform, a single data call is made, which generates a “cascade” through which up to 10 AVMs may be run to increase the likelihood of getting a hit. The VeroSELECT system stops requesting AVMs once it has received three valid hits. VeroPACE then determines the AVM with the highest confidence score, calculates the average of its high and low values, and returns it to the lender in a standardized data format. VeroPACE also generates a coversheet with all the data elements that can be put in a file of supplemental information. Related Articles The Best Markets For Residential Property Investors 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Company News PACE Property Assessed Clean Energy VeroPACE Veros Veros Real Estate Solutions The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Veros VeroPACE Will Help PACE Lenders With Compliance Home / Featured / Veros VeroPACE Will Help PACE Lenders With Compliance Share Save The Best Markets For Residential Property Investors 2 days ago March 5, 2018 1,242 Views last_img read more

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Housing Trends Snapshot

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first_imgHome / Daily Dose / Housing Trends Snapshot Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save About Author: David Wharton May 1, 2018 1,543 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily 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] Consumer Optimism Home Prices Home Sales NAR NAR Housing Minute National Association of Realtors 2018-05-01 David Wharton Demand Propels Home Prices Upward 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Housing Trends Snapshot The Best Markets For Residential Property Investors 2 days ago The latest Realtors® Housing Minute video recap runs down the trends of the marketplace as of March 2018, all in an easily digestible animated video that will only take a minute of your time. Check it out below to find out the housing market performed in March, what’s happening with consumer optimism, and more. The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: A Firm Hand Next: Will Tax Reform Drive Migration in Years to Come? Tagged with: Consumer Optimism Home Prices Home Sales NAR NAR Housing Minute National Association of Realtors  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

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These Are the Areas Defying National Foreclosure Trends

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first_img Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: ATTOM Foreclosure Rates Sales 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. in Daily Dose, Featured, Foreclosure, Market Studies, News Previous: SLK Announced Origination Solution Next: What are the Presidential Candidates’ Views on Housing? Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago These Are the Areas Defying National Foreclosure Trends The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Daily Dose / These Are the Areas Defying National Foreclosure Trends Share Save Subscribe The Best Markets For Residential Property Investors 2 days ago About Author: Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 16, 2019 1,939 Views ATTOM Foreclosure Rates Sales 2019-09-16 Seth Welborn The amount of properties to receive a foreclosure filing increased 4% in August month-over-month, up to 53,007 U.S. properties, but fell 24%t from a year ago, according to analysis from ATTOM Data Solutions.The analysis noted that nationally, one in every 2,554 U.S. properties received a foreclosure filing during the month of August. According to the analysis, the states with the worst foreclosure rates in August 2019 were Delaware (one in every 1,106 housing units); New Jersey (one in every 1,192 housing units); Maryland (one in every 1,218 housing units); Illinois (one in every 1,562 housing units); and Florida (one in every 1,633 housing units).The top 10 counties with least 1 million people with the highest foreclosure rates were Cuyahoga, Ohio (one in every 745 housing units); Suffolk, New York (one in every 980 housing units); Hillsborough, Florida (one in every 1,296 housing units); Fulton, Georgia (one in every 1,358 housing units); Nassau, New York (one in every 1,505 housing units); Cook, Illinois (one in every 1,525 housing units); San Bernardino, California (one in every 1,531 housing units); Miami-Dade, Florida (one in every 1,569 housing units); Riverside, California (one in every 1,624 housing units); and Palm Beach, California (one in every 1,749 housing units).By smaller county, with at least 200,000 people, the worst foreclosure rates in August 2019 were Trenton, New Jersey (one in every 543 housing units); Atlantic City, New Jersey (one in every 794 housing units); Fayetteville, North Carolina (one in every 920 housing units); Cleveland, Ohio (one in every 969 housing units); and Columbia, South Carolina (one in every 1,013 housing units).The August 2019 foreclosure data analysis also stated that among 53 metro areas included in the analysis with at least 1 million people, those with the highest foreclosure rates, including Cleveland, Ohio in August were Jacksonville, Florida (one in every 1,043 housing units); Baltimore, Maryland (one in every 1,116 housing units); Chicago, Illinois (one in every 1,379 housing units); and Philadelphia, Pennsylvania (one in every 1,422 housing units).  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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Fed’s Jerome Powell Says Economy Will Continue to Grow

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first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Fed’s Jerome Powell Says Economy Will Continue to Grow in Daily Dose, Featured, Government, News Share Save Subscribe Sign up for DS News Daily Tagged with: Fed Interest rates Fed Interest rates 2019-11-13 Mike Albanese Previous: Fannie and Freddie Transfer Risk on $281.4B of UPB Next: Repairing for Returns: Attracting Homebuyers to Investments About Author: Mike Albanese 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. Related Articles November 13, 2019 1,194 Views center_img Home / Daily Dose / Fed’s Jerome Powell Says Economy Will Continue to Grow Servicers Navigate the Post-Pandemic World 2 days ago 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 Jerome Powell, the Chair of the U.S. Federal Reserve, said Wednesday, according to Reuters, that negative interest rates aren’t appropriate for an economy continuing to grow, an active labor market, and steady inflation. “Our economy is in a strong position. We have growth, we have a strong consumer sector, we have inflation … You tend to see negative rates in the larger economies at times when growth is quite low, and inflation is quite low. That’s just not the case here,” Powell said.Powell added that the impact of the three rate cuts this year are still to be felt in supporting household and business spending. He said the Fed isn’t likely to make any further changes unless there is a “material” change in the economy. “We see the current stance of monetary policy as likely to remain appropriate with our outlook of moderate economic growth, a strong labor market, and inflation near our symmetric 2% objective,” Powell said. “The baseline outlook remains favorable … My colleagues and I see a sustained expansion of economic activity … as most likely.”The Fed cut interest rates for the third time in 2019 in October, dropping its benchmark lending rate for Federal funds to 1.5% to 1.75%. Doug Duncan, Chief Economist with Fannie Mae, said the Fed cited “implications of global developments,” as the rationale for the cut. Jarred Kessler, CEO of EasyKnock, said that expecting the economy to respond positively to declines in interest rates doesn’t always work out. “Lowering rates doesn’t always have the economic impact we think, or expect it to have because it disrupts the natural economic ecosystem,” Kessler said. “Just look at Japan, it can drive housing growth and a push in the stock market, but other facets of the economy are bound to lose. In the longer term this along with inflation can have a very negative impact.”However, a report by CNN in October said the housing needs to keep improving to “keep the current recovery alive.””With homebuilder sentiment so strong, it’s hard to imagine that the economy is on the cusp of a downturn,” said analysts at Bespoke Investment Group in the CNN report.CNN added that “there seems to be no end in sight” to the housing boom in many parts of the U.S.Additionally, CNN says that historically-low mortgage rates is a key factor in housing growth in 2019. Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

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Councillor Slowey to appeal his FG expulsion this weekend

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first_img Google+ Councillor Slowey to appeal his FG expulsion this weekend Facebook Previous articleNW MEP calls for rise in fishing fuel subsidiesNext articleFirst Derry Presbyterian Church vandalism will not effect re-opening News Highland RELATED ARTICLESMORE FROM AUTHOR Newsx Adverts Guidelines for reopening of hospitality sector published Facebook By News Highland – May 13, 2011 NPHET ‘positive’ on easing restrictions – Donnelly Google+ WhatsAppcenter_img Three factors driving Donegal housing market – Robinson LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter WhatsApp Pinterest Twitter Calls for maternity restrictions to be lifted at LUH Almost 10,000 appointments cancelled in Saolta Hospital Group this week An appeal of the decision by Fine Gael to throw  Councillor Terence Slowey out of the party, will be this weekend.Fine Gael made the decision following a Standards in Public Office report found that Councillor Slowey had acted ‘recklessly’ in double claiming expenses.Councillor  Slowey appeared before the SPOC in relation to expense claims made by him in 2008.He admitted at the hearing in Dublin that he had filed a double claim during the period but claimed he had done so in error, and said he had paid a huge political price for the mistake.The SPOC found the councillor had acted recklessly and off the back if its findings Fine Gael expelled him from the party.Councillor Slowey lodged an appeal immediately, which will be heard on Saturday. Pinterestlast_img read more

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Fianna Fail: No action against Councillor McEniff over travellers comments

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first_img Twitter Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published Pinterest Twitter Facebook Google+ Facebook Previous articleNorth Korea nuclear test registers in DonegalNext articleInvestors express interest in homeware chain B&Q News Highland WhatsApp WhatsApp Pinterestcenter_img Three factors driving Donegal housing market – Robinson By News Highland – February 12, 2013 NPHET ‘positive’ on easing restrictions – Donnelly Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this week RELATED ARTICLESMORE FROM AUTHOR Fianna Fáil says a party Councillor who made controversial comments about travellers was speaking in a personal capacity.Donegal County Councillor Seán McEniff’s demanding the segregation of travellers from settled communities after the burning of a house in Ballyshannon yesterday.Sinn Féin’s calling on Fianna Fáil to take action.But Niall Collins – who’s Fianna Fáil’s Justice spokesman – says Councillor McEniff was not speaking on behalf of the party:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/02/audioTRAV.mp3[/podcast] News Fianna Fail: No action against Councillor McEniff over travellers comments LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton last_img read more

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