Mortgage Delinquencies Experience Seasonal Rise in April

first_img in Daily Dose, Featured, Foreclosure, News Tagged with: Black Knight Financial Services First Look at Mortgage Data Foreclosure Inventory Foreclosure Starts Mortgage Delinquencies Mortgage Delinquencies Experience Seasonal Rise in April Black Knight Financial Services First Look at Mortgage Data Foreclosure Inventory Foreclosure Starts Mortgage Delinquencies 2015-05-22 Brian Honea Share Save Data Provider Black Knight to Acquire Top of Mind 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 Previous: DS News Webcast: Friday 5/22/2015 Next: Senate Banking Committee Approves Financial Regulatory Relief Bill While foreclosure starts have experienced a couple of seasonal increases in recent months, Black Knight Financial Services reported in its “First Look” at April 2015 mortgage data that it was delinquencies that ticked slightly upward to due seasonality.The Black Knight report released Friday revealed that delinquencies in April slightly increased by 1.46 percent, pushing the national rate up to 4.77 percent – still a low number by post-crisis standards. The 4.77 percent represented a total of 2.41 million single-family residential properties, while the increase of 1.46 percent represented a jump of about 35,000. Year-over-year, there was a decline of about 15 percent (about 406,000 properties) in the number of delinquent properties.Meanwhile, foreclosure inventory – the total number of mortgage loans in some state of foreclosure – continued its decline toward pre-crisis levels in April by falling 25.5 percent year-over-year down to 1.51 percent, about 764,000 properties. It is the lowest level for foreclosure inventory since January 2008 right at the beginning of the recession.Foreclosure starts totaled 73,500 for April, a decline of 22 percent from March and from 7 percent from April 2014. The monthly prepayment rate, which is generally a good indicator of refinance activity, were up by more than 60 percent year-over-year in April up to 1.39 percent despite a month-over-month decline of 14.5 percent.Foreclosure starts have totaled less than 100,000 every month since January 2014 but have largely been up and down from month-to-month in the last three years, according to Black Knight data. In January, they totaled 94,300; in February, the fell down to 79,700; in March, they rose back up to 94,100; and back down to 73,500 for April.Florida had the largest six-month rate of improvement for non-current loans among states in April with a 17.4 percent decline, according to Black Knight. Florida’s non-current loan rate of 8.40 percent for April was nearly two full percentage points ahead of the state with the second-largest six-month improvement (Illinois, which experienced a 15.14 percent decline down to 6.45 percent). 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 center_img May 22, 2015 1,504 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago 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. Demand Propels Home Prices Upward 2 days ago Related Articles Home / Daily Dose / Mortgage Delinquencies Experience Seasonal Rise in April The Best Markets For Residential Property Investors 2 days ago  Print This Post Subscribelast_img read more

Re-examining Lenders’ False Claims Act Liability

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Federal Reserve: Consumer Optimism Rises Next: The Lingering Impact of Natural Disasters on Delinquency Rates July 9, 2019 1,438 Views In a recent blog, Jim Parrott, Nonresident Fellow, and Laurie Goodman, VP, Housing Finance Policy, Urban Institute have given insights on why the Federal Housing Administration (FHA) clarified how it would enforce its underwriting standards and how they could be improved.The blog states that one of the key reasons for FHA’s current announcement is to woo back lenders that had left is fold during the crisis and address some of the pitfalls of the False Claims Act that made them leave.Parrott and Goodman write that a decade ago, “facing a rising tide of insurance claims following the crisis, FHA and the Department of Justice (DOJ) stepped up enforcement efforts against lenders that had made mistakes in their underwriting of FHA-insured loans, levying more and larger fines, requiring more indemnification, and, for the first time, bringing claims of fraud under the False Claims Act.”As a result, many large, well-capitalized longtime FHA lenders, pulled back on their FHA lending, “sometimes dramatically.” Because of this shift, newer and less-well-capitalized lenders stepped in to fill the vacuum.”The resulting reconfiguration has made the FHA market less durable, as some of the more thinly capitalized lenders that have stepped into the breach are likely to fail or pull out as defaults rise,” the Goodman and Parrott said.It also leaves the FHA more vulnerable compared to the last crisis and unable to play “the critical countercyclical role as effectively as it did during the previous downturn,” not to forget creating a significant counterparty risk to Ginnie Mae which guarantees the securities backed by these loans.The recent clarification issued by the FHA, Goodman and Parrott said, tackles two problems: clarifying what the rules are and clarifying how they will be enforced.However, it does not address what the DOJ would do if the lender makes a mistake, “thus leaving unaddressed the biggest, most uncertain source of liability of all: the False Claims Act.””In the face of that remaining uncertainty, it is hard to imagine that any lender that pulled back from FHA over enforcement uncertainty would return in response to these recent changes,” Goodman and Parrott said.As a solution, Goodman and Parrott said that the FHA would need to either narrow what a lender certifies to or narrow the kind of mistakes that can give rise to liability under the False Claims Act.”If the administration wants to attract back into the FHA market those lenders scared off by uncertainty over how FHA’s rules are enforced, it will have to provide some certainty over when and how the False Claims Act will be used,” Goodman and Parrott concluded. Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, REO Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Borrowers default DOJ False Claims Act FHA Lenders Underwriting Re-examining Lenders’ False Claims Act Liability Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Borrowers default DOJ False Claims Act FHA Lenders Underwriting 2019-07-09 Radhika Ojha Home / Daily Dose / Re-examining Lenders’ False Claims Act Liability The Best Markets For Residential Property Investors 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Disruption in Property Tax Revenue From Forbearance Plans

first_img Disruption in Property Tax Revenue From Forbearance Plans May 5, 2020 1,505 Views Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Tagged with: Forbearance taxes Forbearance taxes 2020-05-05 Seth Welborn 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 a new report, CoreLogic measures how forbearances will impact property tax revenue. Acording to CoreLogic’s data, 61% of expected escrowed property tax payments will be advanced by bank servicers, while 39% will be advanced by non-bank servicers.Additionally, the cumulative monthly cash flows expected from non-bank servicer escrow account disbursements builds from $3.39B in March, reaching double-digits ($11.56B) in July, and capping out at $35.39B in December. With respect to bank servicer escrow account disbursements, they also build from $4.63B in March, reaching double-digits ($12.56B) earlier in May, and capping out at $55.96B in December. In total, cumulative monthly cash flows from servicer escrow account disbursements is forecast to be $91.36B for the period of March to December of this year.With the financial stress to homeowners mounting, some of the top 20 (and many other) MSAs/Counties are already making contingency plans. For example, while Los Angeles County has not extended their ELD for property tax payments, they have announced that delinquent taxpayers can apply for a workout plan for any missed payments. Philadelphia County has moved their ELD to July to give taxpayers extra time to make their payments (i.e., forbearance for property tax bills). Likewise, King County (Seattle) has extended the deadline for non-escrow account borrowers from April to June. Finally, San Francisco County has moved their ELD to May to provide their taxpayers some relief. We expect this type of property tax loss mitigation to expand over the coming weeks. These mitigation efforts suggest that MSAs/counties are aware of the risk of a drop off in property tax revenue.“Over time we will be able to measure actual material impacts (if any) to municipal property tax payments stemming from possible disruptions or delays by financially stressed mortgage servicers or delinquent non-escrow account mortgage borrowers.,” CoreLogic said. “Regulators will continue to monitor mortgage servicers’ ability to fulfill their obligations to advance property tax payments that are a source of revenue for municipalities.” Previous: FHFA Extends Mortgage Flexibilities Next: Best Practices in Forbearance Agreements in Daily Dose, Featured, Market Studies, News Share Save Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img 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 Demand Propels Home Prices Upward 2 days ago 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 About Author: Seth Welborn Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Disruption in Property Tax Revenue From Forbearance Plans Related Articleslast_img read more

Highland’s Farming News – Thursday 7th July

first_imgNewsPlayback Twitter Three factors driving Donegal housing market – Robinson Facebook Nine Til Noon Show – Listen back to Wednesday’s Programme Previous articleDonegal man admits 14 charges of indecent assaultNext articleTemperatures set to climb to 22C as Beyoncé brings the heat to Croke Park admin A 15 Minute Programme presented by Chris Ashmore every Thursday at 7.05pm highlighting all that’s happening in the farming community.Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/07/Farming13.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. NPHET ‘positive’ on easing restrictions – Donnelly Highland’s Farming News – Thursday 7th July Pinterest Google+ Facebookcenter_img WhatsApp 448 new cases of Covid 19 reported today News, Sport and Obituaries on Wednesday May 26th WhatsApp RELATED ARTICLESMORE FROM AUTHOR Twitter Help sought in search for missing 27 year old in Letterkenny By admin – July 7, 2016 Google+ Pinterestlast_img read more

Too many bed nights being lost at LUH – Cope

first_imgHomepage BannerNews Too many bed nights being lost at LUH – Cope Donegal Deputy Pat the Cope Gallagher is calling on the HSE and the government to immediately increase the number of home help hours and resources in community hospitals.Following Minister Simon Harris’ visit to Letterkenny University Hospital last week Deputy Gallagher revealed that Letterkenny lost 1,387 bed nights in the first seven months of this year due to a failure to discharge patients. That’s a 100% increase from this time last year.Deputy Gallagher says changes must be made to relieve pressures within the hospital’s emergency department………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/09/copebednights.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook Twitter WhatsApp Calls for maternity restrictions to be lifted at LUH Pinterest GAA decision not sitting well with Donegal – Mick McGrath Three factors driving Donegal housing market – Robinson Google+ Nine Til Noon Show – Listen back to Wednesday’s Programme center_img Pinterest WhatsApp Twitter Facebook Google+ Previous articleLetterkenny is Ireland’s “29th tidiest town” according to IBALNext articleCourtney drives to success in Knockalla Hillclimb admin By admin – September 5, 2016 RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamiltonlast_img read more

Finance Minister gives no guarantees to cut VAT

first_img Twitter By News Highland – December 4, 2009 News WhatsApp Google+ Facebook Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Pinterest Twitter Facebook WhatsApp Previous articleSimply Red stars in court clash with Ballybofey neighbourNext articleNW Tourism says Tourism Ireland has failed Donegal News Highland center_img Calls for maternity restrictions to be lifted at LUH Finance Minister gives no guarantees to cut VAT Following a meeting with the Finance Minister Donegal North East Deputy Niall Blaney says he has received no guarantees from him that VAT will be reduced in next weeks budget.Deputy Blaney met with businesses representatives last month during which he heard calls for government action on VAT rates and the general cost of doing business here.Deptuy Blaney said he outlined those concerns to Minister Brian Lenihan and while there are now guarantees the Minister says he is will looking at ways of assisting businesses in the budget:[podcast]http://www.highlandradio.com/wp-content/uploads/2009/12/niall.mp3[/podcast] RELATED ARTICLESMORE FROM AUTHOR Google+ Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Almost 10,000 appointments cancelled in Saolta Hospital Group this week Guidelines for reopening of hospitality sector published Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

Man arrested near Twin Towns due in Special Criminial Court

first_img Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republic By News Highland – February 5, 2010 Previous articleDeputy McDaid says banning headshops is not answer to drug problemsNext articleByrne family reject Blaney claim that they were “misled” News Highland Twitter WhatsApp Twitter Main Evening News, Sport and Obituaries Tuesday May 25th A man in his 40’s who was arrested following an incident between Stranorlar and Convoy on Tuesday night will appear at the Special Criminal Court in Dublin this morning. Gardai stopped a car aftetr four men were seen acting suspiciously. One man was arrested at the scene, three others fled across fields, and a search for them continues.Two firearms and four cars were seized as part of a Garda investigation into the incident. Facebook WhatsApp Google+center_img News 75 positive cases of Covid confirmed in North Man arrested near Twin Towns due in Special Criminial Court RELATED ARTICLESMORE FROM AUTHOR Pinterest Facebook Gardai continue to investigate Kilmacrennan fire Further drop in people receiving PUP in Donegal Pinterest Google+last_img read more

Letterkenny Town Council to write to HSE demanding no further cuts at hospital

first_imgNews RELATED ARTICLESMORE FROM AUTHOR Pinterest Google+ Facebook Gardai continue to investigate Kilmacrennan fire Twitter WhatsApp Main Evening News, Sport and Obituaries Tuesday May 25th Facebook Letterkenny Town Council is to write to the HSE and the minister for Health demanding that no further cuts are made to services at Letterkenny General Hospital.A motion was passed at this weeks meeting of the council off the back of a request by campaign group ‘Donegal Action for Cancer Care’.Some services have already been cut at the hospital which has effectively lost 12 and a half million euro from its budget over the past two years.The issues was raised by Councillor Dessie Larkin, he says Letterkenny General is being punished for its success:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/05/desdac1.mp3[/podcast] 75 positive cases of Covid confirmed in North center_img Previous articleSenator Harte says progress on shared health services is too slowNext articleRepresentatives from ‘Yes’ and ‘No’ camps in referendum to attend Ballybofey debate News Highland WhatsApp Twitter Further drop in people receiving PUP in Donegal 365 additional cases of Covid-19 in Republic By News Highland – May 16, 2012 Pinterest Letterkenny Town Council to write to HSE demanding no further cuts at hospital Google+ Man arrested on suspicion of drugs and criminal property offences in Derry last_img read more

Concerns over funding for Bunbeg NS

first_img Previous articleBoards.ie hackedNext articleFriend gives evidence in Donegal rape trial News Highland 365 additional cases of Covid-19 in Republic Twitter RELATED ARTICLESMORE FROM AUTHOR There are concerns that Scoil Chonaill Naofa in Bunbeg could miss out on funding for 2010 for an extension due to a technicality in the planning process.The issue was raised this afternoon in the Seanad.The 100 plus pupil school has been seeking an extension for 10 years with the current facilities described as cramped with safety concern’s over its electricity supply and its lack of fire alarms.Raising the issue Senator Brian O’Domhnail outlined the school management’s concerns:[podcast]http://www.highlandradio.com/wp-content/uploads/2010/01/21bunbeg.mp3[/podcast]In a generic response the Minister for Education said that the school’s application was still being considered and a decision on whether or not it will be included in the 2010 spend programme will be announced soon. Facebook Main Evening News, Sport and Obituaries Tuesday May 25th 75 positive cases of Covid confirmed in North By News Highland – January 21, 2010 News Google+ Google+center_img Pinterest WhatsApp WhatsApp Concerns over funding for Bunbeg NS Man arrested on suspicion of drugs and criminal property offences in Derry Further drop in people receiving PUP in Donegal Twitter Pinterest Facebook Gardai continue to investigate Kilmacrennan firelast_img read more

Tailbacks starting already on roads into Clones

first_img Pinterest Google+ Facebook Facebook Twitter 75 positive cases of Covid confirmed in North Gardai continue to investigate Kilmacrennan fire Google+ Tailbacks starting already on roads into Clones Pinterest Twitter Further drop in people receiving PUP in Donegal center_img 365 additional cases of Covid-19 in Republic By admin – June 27, 2015 WhatsApp RELATED ARTICLESMORE FROM AUTHOR Man arrested on suspicion of drugs and criminal property offences in Derry Previous articleListen Back to the latest Weekend EditionNext articleKatie Taylor wins gold at European Games admin Main Evening News, Sport and Obituaries Tuesday May 25th A notice for anyone planning to travel to Clones for this evening’s Donegal – Derry game, there are already half hour tailbacks on the Omagh to Kesh Road and into Enniskillen.Please allow extra time for your journeys. Homepage BannerNews WhatsApplast_img read more