Labor Force Participation Rate Problematic for Recovery

first_imgSign up for DS News Daily July 18, 2014 1,168 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Much has been made of the recent drop in the unemployment from its highs during the great recession to the where it currently sits at 6.1 percent. But the often untold story in the headline is the effect that the labor force participation rate has on the unemployment rate and the overall economy.Put simply, the conventional unemployment rate is only a measure of unemployment within the segment population that is a part of the labor force, defined as people who are employed or actively looking for work. People who fall outside of that definition are not a part of the active labor force and fall outside of conventional unemployment measurement. But make no mistake; a lower labor force participation rate is a sign of a troubled job market.A report released Thursday by the White House Council of Economic Advisors points to a number of factors that lead to the conclusion that the labor force participation rate is unlikely to return to the past levels it enjoyed before the economic downturn any time soon – and maybe never again.According to the report, since the final quarter of 2007, the labor force participation rate has fallen from 65.9 percent to 62.8 percent in the second quarter of 2014, a decline of 3.1 percentage points and a drop to nearly the lowest level seen since the 1980’s.The council pointed to a number of factors depressing the number.The main culprit is the fact that the United States population is aging. As baby boomers retire and live longer than prior generations, it’s only natural it makes perfect sense that a greater portion of the U.S. population would not be active in the job market. The report suggests that more than half of the drop in participation is due to the aging population.Surprisingly the report downplayed the effect of the financial crisis on the participation rate attributing only 0.5 percent to workers that have voluntarily left the work force because of discouragement, returning to school, or some other reason.The rest of the decline is attributed to a number of trends, including historical patterns that were in place before the downturn.Whatever the reason, the anemic labor force participation rate is a cause for concern going forwar. Since the baby boomer generation, the population share of each successive generation continues to shrink. That fact and the historical trends that are likely to continue paint a grim picture.Policy makers will have to be creative in their approach to confronting these issues. The Best Markets For Residential Property Investors 2 days ago Previous: Report: Bubble Fears Unfounded Next: DS News Webcast: Friday 7/18/2014 Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Labor Force Participation Rate Problematic for Recovery 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 ago Council of Economic Advisers Labor Force Participation Unemployment 2014-07-18 Derek Templeton Share Save Derek Templeton is an attorney based in Dallas, Texas. He practices in the areas of real estate, financial services, and general corporate transactional law. His experience includes time as an Attorney Adviser for the U.S. Small Business Administration and as General Counsel for a nonprofit organization in Dallas. A self-avowed “policy junkie,” he has a keen interest in the effect that evolving federal policy has on the mortgage, default servicing, and greater housing industries. Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Council of Economic Advisers Labor Force Participation Unemployment in Daily Dose, Featured, Headlines, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Labor Force Participation Rate Problematic for Recovery Print This Post About Author: Derek Templeton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

DS News Webcast: Tuesday 2/24/2015

first_imgSign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Ocwen Loan Servicing, a subsidiary of Ocwen Financial Corporation, intends to sell the mortgage servicing rights on a portfolio of performing residential loans owned by Freddie Mac with a total principal balance of about $9.8 billion to Nationstar Mortgage, a subsidiary of Nationstar Mortgage Holdings, according to an announcement from Ocwen Financial Corporation on Monday morning.There are approximately 81,000 loans in the portfolio involved in the transaction, according to Ocwen’s announcement. The transaction is subject to a definitive agreement as well as approval from Freddie Mac as well as Freddie Mac’s conservator, the Federal Housing Finance Agency. Ocwen CEO Ron Faris said the recently announced deal with Nationstar could be only the beginning of MSR transactions between the two companies.The second in a series of hearings to examine the financial health of the Federal Housing Administration will take place this week in Washington, D.C. 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 2, on Thursday, February 26, beginning at 10 a.m. Eastern time. Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe DS News Webcast: Tuesday 2/24/2015 Servicers Navigate the Post-Pandemic World 2 days ago About Author: Jordan Funderburk 2015-02-23 Jordan Funderburk Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Print This Post Previous: Existing-Home Sales Down Month-Over-Month, But Up from a Year Ago Next: Auction.com Announces Promotions February 23, 2015 676 Views in Featured, Media, Webcasts Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Featured / DS News Webcast: Tuesday 2/24/2015 The Best Markets For Residential Property Investors 2 days ago Share Savelast_img read more

Purdy Selects FotoNotes as Technology Solution

first_img Purdy Selects FotoNotes as Technology Solution FotoNotes Purdy Enterprise 2017-06-19 Staff Writer Print This Post Related Articles June 19, 2017 1,455 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Sign up for DS News Daily Home / Featured / Purdy Selects FotoNotes as Technology Solution About Author: Staff Writer 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 Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Week Ahead: Summit on Housing, Human Capital, and Inequality Next: Tear-Down Starts Boast Year-Over-Year Increase Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Featured, Headlines, News The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Purdy Enterprise, a property services firm, has selected FotoNotes, a leading mobile and cloud field service management platform, as its technology solution for managing property inspections, maintenance work orders and other field service activities. Purdy Enterprise, which offers a comprehensive range of field services, maintenance, property management, and investor services, was recently awarded two Field Service Management (FSM) contracts from the U.S. Department of Housing and Urban Development (HUD).“We selected FotoNotes because the product is highly configurable and constantly improving, provides a cutting edge mobile experience, has a highly robust and reliable cloud and web based backend, is API friendly, and is significantly helpful to our field subcontractors,” commented Purdy COO, Mitch Davidson. “We also based our decision on the fact that the FotoNotes people are fantastic to work with regarding both development and an ongoing service relationship.” FotoNotes was selected because of its reputation in the industry, best in class Android and iOS mobile apps, comprehensive back office work flow management features, and full integration with Yardi’s HUD P260 system“We’re thrilled to be working with Purdy Enterprise” said Kamal Shah, FotoNotes’ CEO and founder. “They are established leaders in property services and true innovators in the use of leading technology tools to operate their business more effectively.” Tagged with: FotoNotes Purdy Enterprise Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Bankruptcy Judge Backs Lehman Brothers in RMBS Suit

first_img Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Headlines, Journal, News March 11, 2018 3,113 Views Share Save Bankruptcy Lehman Brothers Residential Mortgage-backed securities RMBS 2018-03-11 David Wharton A New York bankruptcy judge has ruled that Lehman Brothers Holdings, Inc. will have to pay around $2.4 billion to investors in order to settle disputes over toxic residential mortgage-backed securities (RMBS) sold by the bank during the financial crisis. It might not sound like it initially, but that’s actually good news, as the judge ruled against investors seeking around $11.4 billion.U.S. Bankruptcy Judge Shelley Chapman made the ruling last week, following a trial that concluded in February. Lehman Brothers collapsed during the financial crisis in 2008, and the case traces back to claims that the bank sold investors billions of dollars of misrepresented home equity loans leading up to the financial crisis.The trustees claimed that of the approximately $11.4 billion Lehman Brothers’ breaches should owe, that $8.8 billion of that sum consists of breaches based on borrower misrepresentations of income, omissions of debt or failure to use the mortgaged property in accordance with the borrower’s commitments under the application, and mortgage, according to the pretrial brief.In addition, roughly $370 million consists of DTI breaches, while the remaining approximately $2.3 billion of the trustees’ claim consists of breaches of several additional representations and warranties, “as set forth in the reports of the trustees’ underwriting experts Jim Aronoff and Chip Morrow.”“The excesses of the pre-2008 mortgage market are now part of the public—and this court’s—record. Lehman’s own documents show it was aware of the widespread problems and deteriorating performance of the loans it had securitized, even as compared to the rest of the industry,” the trustees’ reported earlier in the trial.The $2.4 billion estimate traces back to earlier in the bankruptcy proceedings ,when that estimate was arrived at by “a group of 14 sophisticated institutional investors including a Goldman Sachs Group Inc. unit.” Lehman asked the court to stick with that figure, and Judge Shelley Chapman this week agreed.Lehman attorney Todd Cosenza said in a statement, “We are gratified with the court’s well-reasoned and thorough ruling which we believe is a fair result for all creditors of the estate.” Tagged with: Bankruptcy Lehman Brothers Residential Mortgage-backed securities RMBS Subscribe About Author: David Wharton Home / Daily Dose / Bankruptcy Judge Backs Lehman Brothers in RMBS Suit Demand Propels Home Prices Upward 2 days ago Bankruptcy Judge Backs Lehman Brothers in RMBS Suit The Best Markets For Residential Property Investors 2 days ago 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: States Trying to Circumvent Federal Property Tax Changes Next: Bettering Mortgage Link by Link Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Print This Post Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

For Renters, Some States are Friendlier Than Others

first_img 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Magazine, Market Studies, News Related Articles The Best Markets For Residential Property Investors 2 days ago Share Save Not all states view tenant laws as the same. In general, renters in Western, Northeastern, and Central states have many more protections than renters in the Deep South and parts of the Midwest, according to a new study by RentCafe. But the best and worst places for tenants rights can vary wildly even among neighboring states.The report ranked Vermont as the friendliest state for renters; Arkansas and West Virginia the worst. Landlords in Vermont are required to return security deposits within 14 days of a tenant moving. They must also give 48 hours notice before entering a residence, 14 days notice for nonpayment of rent, and 60 days notice of rent increases for month-to-month contracts. Vermont tenants also have the right to not pay rent if something breaks down (like the heater) and the landlord hasn’t fixed it. Vermont, however, sets no limit on the maximum amount landlords can charge for a security deposit on unfurnished apartments with a one-year lease.Similar laws are in place in Delaware, Hawaii, Rhode Island, Arizona, Washington, D.C., Maine, and Alaska.On the other end of the spectrum, renters in Arkansas and West Virginia have a rough go, according to the report. While the two states cap security deposits at two months rent (but only if a landlord has five or more properties), no statutes protect tenants from sudden rent hikes, unannounced landlord entry, or by when a landlord has to return a security deposit. If the air conditioner breaks down in the middle of summer, Arkansas or West Virginia residents can complain, but not withhold rent until it’s fixed. Arkansas is also the only state in which a tenant can face criminal charges for failure to vacate after an eviction.Louisiana, Georgia, Wyoming, North Carolina, Idaho, Ohio, Mississippi, and Colorado are similarly less friendly to tenants than to property owners.Landlords in Maryland, Georgia, New Jersey, South Dakota, and Missouri have the option to immediately terminate a lease and file for eviction when the tenant is just a few days late on rent. However, lockouts and utility shut-offs are never allowed in any state. In Arkansas and West Virginia, no laws protect a tenant’s leave-behinds. If a tenant moves out, whatever is left the moment he or she steps off the property can be disposed of by the property owner, without notice.Wisconsin landlords need to give renters 30 days to claim left-behind items, but after 30 days landlords there can sell the items at auction. Proceeds must be given to the Wisconsin Department of Administration, which uses the money to help feed the homeless. In Illinois the law on abandoned tenant property only covers crops. Servicers Navigate the Post-Pandemic World 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 Demand Propels Home Prices Upward 2 days agocenter_img March 20, 2018 2,902 Views Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Tagged with: Landlords Laws Property Rent RENTCafe Renters Tenant RIghts Tenants About Author: Scott Morgan The Week Ahead: Nearing the Forbearance Exit 2 days ago Landlords Laws Property Rent RENTCafe Renters Tenant RIghts Tenants 2018-03-20 Radhika Ojha Print This Post Previous: 5 Cities Where Homes Are Flying Off the Market Next: The Past and Future of PACE Home / Daily Dose / For Renters, Some States are Friendlier Than Others For Renters, Some States are Friendlier Than Others Sign up for DS News Daily Subscribelast_img read more

Citizens Bank Adds 200K Households to its Servicing Portfolio

first_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Rhode Island-based Citizens Bank (Citizens) has acquired Franklin American Mortgage Company, a Franklin, Tennessee-based, national mortgage servicing and origination private, nonbank mortgage company. Franklin American Mortgage managed a $41.4 billion mortgage servicing portfolio and generated approximately $13.7 billion in annualized originations for the first quarter 2018, nearly 100 percent of which was conforming.“This transaction takes our mortgage business to the next level, expanding our reach and adding immediate scale in servicing as well as innovative correspondent and wholesale solutions,” said Brad Conner, Vice-Chairman, and Head of Consumer Banking at Citizens. “Franklin American Mortgage’s strong history of excellence in customer service is a great cultural fit with our organization and we are excited to welcome a new group of colleagues to Citizens.”“We view this transaction as an opportunity to add scale and capital to the outstanding platform and customer-centric culture that our employees have created,” said Dan Crockett, Owner, President, and CEO of Franklin American Mortgage. “Citizens shares our deep and enduring focus on delivering for customers, as well as our strong commitment to colleagues and communities, which Franklin American Mortgage employees have long embraced. Together, we’ll be able to increase our positive impact on customers and grow the business platforms that are a great source of pride for us.”In a statement on Thursday, Citizens Bank said that the deal would triple the size of its off-balance sheet mortgage servicing portfolio and more than double its origination platform. It would also significantly diversify the bank’s origination capabilities with the addition of correspondent and wholesale channels. “We have a little over $30 billion of service portfolio at present and with Franklin’s additional portfolio we will be close to $80 billion in serviced mortgages, which also puts us among the top 15 originators in the U.S.,” Eric Schuppenhauer, President of Home Mortgage, Citizens Bank told MReport.Through this deal, the bank plans to add approximately 200,000 servicing households along with more than 600 correspondent relationships and 1,000 wholesale-broker relationships. The acquisition will also help Citizens to improve its mix of confirming originations from 45 percent to around 85 percent with approximately 70 percent of combined originations by purchase volume. Most importantly, the acquisition would create a strong correspondent and wholesale lending arm for the bank, which has traditionally been on the retail side of the mortgage business.”Franklin American has built an enviable correspondent and wholesale operation,” said Schuppenhauer who will lead the combined business. “We will be operating their third-party origination (TPO) business as a division of Citizens Bank and by providing our cost of funds and capital we will be growing into that business first. Franklin American has a smaller retail component and we’ll combine our forces on the retail side to bring our product and pricing capabilities to Franklin American’s retail business.”Following the completion of the transaction Scott Tansil, CFO and COO, of Franklin American Mortgage will lead the acquired correspondent and wholesale origination businesses headquartered in Franklin, Tennessee. The bank would also be adding 900 people from Franklin American by virtue of this deal to its existing team. “The addition of Franklin American’s team would take the size of the mortgage lending team at Citizens Bank to around 2,000 to 2,500 people,” Schuppenhauer said.In a statement, Citizens said that the bank would maintain a significant presence in Tennessee and Texas. Dan Crockett will remain involved in the business in an advisory role with Citizens Home Mortgage. Print This Post Previous: Loan Defects Up Since 2017 Next: 2018 Hurricane Storm Surge Damage Could Top $1 Trillion Related Articles Governmental Measures Target Expanded Access to Affordable Housing 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. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img in Daily Dose, Featured, Investment, News Sign up for DS News Daily Home / Daily Dose / Citizens Bank Adds 200K Households to its Servicing Portfolio May 31, 2018 2,606 Views Citizens Franklin American mortgage Servicing 2018-05-31 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Citizens Franklin American mortgage Servicing Demand Propels Home Prices Upward 2 days ago Citizens Bank Adds 200K Households to its Servicing Portfolio The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

How Technology is Bringing Buyers and Sellers Closer

first_imgMy day starts with team collaboration—I walk the door to check on Auction.com’s many initiatives, to make sure goals are on track, and then to meet with executive partners to figure out how to continue to build the most innovative products for our buyers and sellers.We have a big team, and every member stays extremely busy. There isn’t a department at Auction.com that we don’t interact with in some way. Along with improving our auction platform, we work with every department to help them do their jobs more efficiently and innovate new ways to serve our customers. We are always looking six to nine months down the road, at next steps for digitizing our auction process. Sign up for DS News Daily How Technology is Bringing Buyers and Sellers Closer in Daily Dose, Featured, News, Technology Demand Propels Home Prices Upward 2 days ago Editor’s note: this feature originally appeared in the October issue of DS News, click here to view.Amit Aggarwal oversees the implementation of technology systems to enhance Auction.com’s online platform. He has over 16 years’ experience leading, innovating, designing, and executing large-scale enterprise web-based solutions, most recently as CarFinance.com’s CTO. There, Aggarwal was responsible for defining the strategy and vision for CarFinance.com’s technology and the implementation of its product ecosystem. Before his tenure at CarFinance.com, Aggarwal served as Director of Software Development for Equator, an Altisource business unit, where he played a vital role in building and transforming their flagship platform. Aggarwal holds a Bachelor of Engineering in Computer Science and Engineering from Maharishi Dayanand University and a Master of Science in Computer Science from the University of Southern California.What does a typical day look like for you? Print This Post One major discussion point was the importance of digitization of the entire business process. Whether in the auction or the servicing industry, successful companies are looking to enhance the customer experience through digitization. The bottom line is to ensure that your company is innovative enough to improve the customer experience and invests enough resources to keep up with changing technology. Share Save It’s very satisfying to be part of a process that helps stabilize the housing industry. We know that the faster we help sell an asset, the faster we help stabilize the market. We hear stories about how our platform helps distressed properties become homes again—and this is gratifying. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Rachel Williams Data Provider Black Knight to Acquire Top of Mind 2 days ago amit aggarwal Auction Auction.com HOUSING mortgage 2018-10-19 Rachel Williams Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Every day, we collect enormous amounts of marketplace data through our tools. We then redistribute this data in some form to our buyers and sellers to empower them to make decisions. Our data models give buyers their personalized property recommendations. We are continually learning the behavior of buyers to provide them with the best property recommendations. From the seller’s side, we continue to learn from all the data we collect from different auction runs to give our sellers the best recommendations for pricing their assets. The Best Markets For Residential Property Investors 2 days ago What is the most rewarding aspect of your job? Finally, make sure you are collecting efficient data, and that data democratization is a crucial goal for your company. We collect myriad data points every day and share it with sellers, buyers, and business partners so they can make informed decisions.center_img Previous: HUD Official Suzanne Tufts Resigns Next: FHFA Memo Cites “Performance Challenges” Subscribe Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] Related Articles October 19, 2018 2,087 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago You recently spoke at the Five Star Conference during the Servicing & Compliance Lab on the topic of servicing innovation. What were some of the key takeaways? Home / Daily Dose / How Technology is Bringing Buyers and Sellers Closer One of the most significant investments Auction.com has made since I joined the team is building tools for sellers and buyers so they can have a more in-depth look into their portfolio. Our goal is to continually innovate to make business between buyers and sellers as easy and transparent as possible. It’s about our customers being able to make informed decisions.We assemble the data gathered from our seller and buyer tools in one place, which we can later share with our buyers and sellers so they can see their portfolio performance, what actions they need to take on assets, and empower them to make real-time decisions.Another great tool is our Auctionsync app, which collects buyer data at in-person auctions. And we have exclusive seller tools that help them make informed decisions, such as determining price optimization at the asset level. Demand Propels Home Prices Upward 2 days ago Tagged with: amit aggarwal Auction Auction.com HOUSING mortgage In what ways can servicer providers better meet the needs and demands of their servicer partners? The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Your most recent past position was at CarFinance.com. What can mortgage professionals learn from how other industries operate?CarFinance.com is an online automotive-lending and car-buying experience. Part of my team’s job was to digitize the experience by making the loan- approval process quick, easy, and secure so customers drove away happy. Simplicity and the digitization of customer-experience/business processes were incredibly important, and that’s a big part of my job at Auction.com.last_img read more

Capital Living: America’s Best Cities to Reside in

February 20, 2019 1,767 Views About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago State capitals can be some of the best cities to live in, provided you know which state capital provides the best economic and cultural value.According to a study by WalletHub that ranked the best capitals to live in, though 17 state capitals in the U.S. are the largest cities within their respective states, the biggest population doesn’t necessarily translate to the best quality of life. Perhaps that’s the reason that Austin, Texas, was ranked first on this list for its overall livability, earning a score of 67.23 on the state capital index.For the rankings, WalletHub compared all 50 state capitals across 54 key indicators of affordability, economic well-being, quality of education and health, and quality of life.While Austin ranked among the top 20 in terms of affordability, it received top marks for economic well being as well as the quality of education and health and quality of life. Boise, Idaho, with an overall score of 64.78, was ranked second, followed by Raleigh, North Carolina (64.52); Madison, Wisconsin (63.57); and Lincoln, Nebraska (62.67). Bismarck, North Dakota; Concord New Hampshire; Denver, Colorado; Cheyenne, Wyoming; and Des Moines, Iowa also ranked among the top 10 state capitals.In fact, Des Moines was the only state capital among the top 10 that also earned a top ranking for affordable housing, coming in fourth after Jefferson City, Missouri; Pierre, South Dakota; and Topeka, Kansas. Springfield, Illinois was ranked fifth for most affordable housing even though it was at the 30th spot in the overall rankings.Boston, Massachusetts, and Honolulu, Hawaii, tied for a spot for state capitals with the least affordable housing. They were joined by Denver, Colorado; Sacramento, California; and Richmond, Virginia.Three of the state capitals that were among the top 10 in the overall rankings were also ranked high for cities with the highest median household income. While Juneau, Alaska, got the top spot in this list, Cheyenne, Wyoming; Raleigh, North Carolina; Austin, Texas; and Bismarck, North Dakota, were among the top five cities on this list. Hartford, Connecticut; Providence, Rhode Island; Honolulu, Hawaii; Trenton, New Jersey; and Jackson, Mississippi, were among the cities with the lowest household income.Click here for the full rankings. Previous: The End of Housing Inventory Woes? Next: How Millennials Are Moving the Housing Market The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, Market Studies, News Home / Daily Dose / Capital Living: America’s Best Cities to Reside in Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Capital Living: America’s Best Cities to Reside in Sign up for DS News Daily Share Save Affordable Housing Austin City Home HOUSING Resident WalletHub 2019-02-20 Radhika Ojha Tagged with: Affordable Housing Austin City Home HOUSING Resident WalletHub Data Provider Black Knight to Acquire Top of Mind 2 days ago Print This Post Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe read more

Gauging Investor Opinion

first_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Investment Stocks in Daily Dose, Featured, Investment, Market Studies, News Demand Propels Home Prices Upward 2 days ago Investment Stocks 2019-06-25 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Studying Home-Price Growth Next: CFPB Discusses Dodd-Frank and Abuse About Author: 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. Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Sign up for DS News Daily Gauging Investor Opinion Demand Propels Home Prices Upward 2 days ago Related Articles Home / Daily Dose / Gauging Investor Opinion June 25, 2019 848 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Despite positive opinions about the economy, investor optimism has dropped, according to the latest Wells Fargo/Gallup Investor and Retirement Optimism Index. The Index fell to 85 in Q2 2019, down 18 points year over year.Over half of investors surveyed, 61%, state that the economy is “booming” or “solid,” but many fear a coming recession. 51% of investors say a recession will begin either later in 2019 (11%) or in 2020 (40%). However, a clear majority — 66% — say they are “prepared” for how they will handle their investments in the event of a recession. According to Wells Fargo, 65% of investors say now is a good time to invest, but about half of investors (51%) predict that the next U.S. recession will occur either sometime later this year or next year. However, the majority of investors say they feel prepared for how they would handle their investments in the event of a recession“It is good to see that two-thirds of investors feel they are prepared to handle their investments during a recession,” said Tracie McMillion, Head of Global Asset Allocation Strategy for Wells Fargo Investment Institute. “While we do not see a recession in the near term, in many ways we are still recovering from the last one — which left a deep scar on many investors. This sense of preparedness is a positive sign.”According to a Gallup poll, it’s real estate, not stocks, that are considered to be the best investment. The poll indicates that 35% of Americans believe real estate to be the superior long-term financial investment, compared to 27% who say stocks are the better investment.Stock ownership has not quite reached pre-recession levels, and previous Gallup analysis showed that stock ownership has declined among most major U.S. subgroups since before the recession, with the exception of upper-income and older Americans. Gallup notes that their poll was conducted April 1-9, in the midst of a bull stock market and that with home values higher than they were before the recession, noting the likely returns. The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Freddie Mac Reports Increased Income

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago July 31, 2019 1,202 Views Sign up for DS News Daily Freddie Mac Reports Increased Income Demand Propels Home Prices Upward 2 days ago Conservatorship Freddie Mac Income 2019-07-31 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Tagged with: Conservatorship Freddie Mac Income Related Articles Home / Daily Dose / Freddie Mac Reports Increased Income Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac reported a slight increase in comprehensive income in Q2 2019 from the previous quarter, up to $1.8 billion. Additionally, the GSE notes that its Return on Conservatorship Capital improved to 14.1% due to higher earnings and lower conservatorship capital compared to the prior quarter.Freddie Mac expects a $1.8 billion dividend to the U.S. Treasury by September 2019. Through June 30, 2019, aggregate cash dividends paid to Treasury were $48.1 billion more thancumulative cash draws received from Treasury. The amount of funding available to Freddie Mac under the Purchase Agreement remained $140.2 billion at June 30, 2019. According to a release, the payment of dividends does not reduce the outstanding liquidation preference under the Purchase.Agreement, which was $75.6 billion at June 30, 2019.“Freddie Mac’s second quarter continued our growing track record of strong returns, solid riskmanagement and an unwavering commitment to our mission,” said Freddie Mac CEO David Brickman. “Once again, we made home possible for hundreds of thousands of families across the country.”Freddie Mac’s release also notes how the GSE prevented foreclosure in the first half of 2019, having completed approximately 26,000 single-family loan workouts in the six months ended June 30, 2019.Fannie Mae and Freddie Mac completed 1,746 foreclosure prevention actions in April 2019, according to the latest Federal Housing Finance Agency (FHFA) Foreclosure Prevention, Refinance, and Federal Property Manager’s Report. The report states that the GSEs have completed 4,334,550 since the start of conservatorship in September 2008.In the six months that ended on June 30, 2019, Freddie Mac provided approximately $212 billion in liquidity to the market. Freddie funded around 702,000 single-family homes, approximately 445,000 of which were home purchase loans, and around 343,000 multifamily rental units.For more information and to listen to Freddie Mac’s conference call regarding their recent financial results, click here.center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News, Secondary Market Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Five Star CEO Addresses Industry at Disaster Preparedness Symposium Next: Interest Rates Cut for the First Time in a Decade About Author: Seth Welborn Print This Post Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribelast_img read more