Month: May 2021

CFPB to Launch eClosing Pilot Program

first_img Related Articles in Daily Dose, Featured, Headlines, News, Technology Subscribe 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: Colin Robins The Best Markets For Residential Property Investors 2 days ago  Print This Post Tagged with: CFPB eClosings Technology Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: FHFA: HARP Refinances Drop in February Next: Malcolm Cisneros Law Firm Welcomes New Attorney CFPB eClosings Technology 2014-04-24 Colin Robins In an effort to create a more consumer-friendly environment, the Consumer Financial Protection Bureau (CFPB) has announced a new pilot program, centered specifically on gathering data from partners using electronic closings (eClosings) to complete mortgages.In a document outlining the program, the CFPB believes, “[T]here may be opportunities to leverage technology to solve some of the issues that cause frustrations for both consumers and professionals in the mortgage closing process.”The goals of the CFPB program are simple: “[T]o further evaluate eClosing solutions and to determine how these solutions can help achieve the proposed vision for an improved closing process.”Lender’s interested in joining the program must already have a partnership with a technology vendor using an eClosing solution, or have a comparable in-house solution that is similar to outside vendor options.The technical functionality needed for lender participation is straightforward: a way to manage documents and data transfers; a secure technology platform that enables a collaborative workflow; an ability to accept e-signatures; ability to audit transactions; and an ability to sanitize data in order to protect sensitive information.The CFPB’s program aims to study eClosings to judge their utility, as well as make the findings of their study available to the public for consideration and debate. “The intention of this pilot is for the CFPB to conduct targeted research on eClosing solutions and to release the findings publically,” the government agency said.With an increasing interest from lenders to use technology to speed up mortgage transactions, the CFPB study should prove to be an interesting litmus test for the utility of new technologies in the mortgage industry.”The Bureau looks forward to seeing the creative solutions that will emerge through this pilot program and to partnering with pioneering companies who are helping to advance innovative solutions in the marketplace,” the CFPB said. Share Save Governmental Measures Target Expanded Access to Affordable Housing 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 Sign up for DS News Daily April 24, 2014 672 Views Servicers Navigate the Post-Pandemic World 2 days ago CFPB to Launch eClosing Pilot Program Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / CFPB to Launch eClosing Pilot Programlast_img read more

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The Great Debate: Has the Homeownership Rate Bottomed Out?

first_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News January 28, 2016 1,996 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago 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. Sign up for DS News Daily Share Save Previous: Ex-Fannie Mae Boss Mudd Pushes for Dismissal of SEC’s Fraud Suit Next: CFPB’s Complaint Volume is Swelling Homeownership Rate National Association of Realtors U.S. Housing Market 2016-01-28 Brian Honea Tagged with: Homeownership Rate National Association of Realtors U.S. Housing Market The Best Markets For Residential Property Investors 2 days ago As the employment situation continues to improve, more buyers made their way into the housing market for the second quarter in a row.The U.S. Census Bureau reported Thursday that the homeownership rate rose 0.1 percent to 63.8 percent in the fourth quarter of 2015, compared to 63.7 percent last quarter. Despite the rise however, the homeownership rate is 0.2 percent below the rate of 64.0 percent last year during the same period.In addition, the homeownership rate, while up from a 48-year low in the second quarter of 2015, is still below the peak of 69.2 percent in June 2004.After suffering a major drop in November 2015, existing-home sales rose 14.7 percent to a seasonally adjusted annual rate of 5.46 million in December, up from 4.46 million in November. Year-over-year, existing-home sales are up 7.7 percent, and December’s jump will mark the largest increase ever.According to the National Association of Realtors (NAR), the first-time buyers share was at 32 percent in December, up from 30 percent in November and 29 percent a year ago. For the year, first-time buyers made up 30 percent of homebuyers, up 1 percentage point from 2014 and 2013.”First-time buyers were for the most part held back once again in 2015 by rising rents and home prices, competition from vacation and investment buyers and supply shortages,” said Lawrence Yun, NAR Chief Economist. “While these headwinds show little signs of abating, the cumulative effect of strong job growth in recent years and young renters’ overwhelming interest to own a home should lead to a modest uptick in first-time buyer activity in 2016.”The Bureau found that homeownership was highest among those 65 years and older at 79.3 percent int he fourth quarter of 2015, down slightly 79.5 percent in the previous quarter. However, the only age group to increase their homeownership rate was the 35 to 44-year olds, from 58.8 percent in the fourth quarter of last year to 59.3 percent in the fourth quarter of 2015.”Jobs are being created at a rapid pace, and we expect earnings growth will finally start to rise this year.”Matthew Pointon, Capital Economics”Today’s Census Homeownership and Vacancy Survey release also provides optimism that the homeownership rate may have hit bottom in 2015,” said Ralph B. McLaughlin, Chief Economist at Trulia. “Many Gen Xers lost their homes during the recession, so this is a positive sign that we may be seeing boomerang buyers coming back into housing market. However, the increase was not statistically significant from a year ago.”Capital Economics Property Economist Matthew Pointon added, “That gradual rise in the homeownership rate should continue over the next few years. On the demand side, there are large numbers of young adults who are currently living with their parents. And many of them would like to form their own household. The financial crisis locked them out of homeownership, as they lost their jobs and/or banks refused to provide them with a mortgage. But both factors are now steadily improving. Jobs are being created at a rapid pace, and we expect earnings growth will finally start to rise this year. As well as allowing more households to access homeownership, that will also cut down on mortgage delinquencies and keep more families in their homes.”The Bureau reported that the homeownership rates were highest in the Midwest at 68.1 percent in the fourth quarter, and lowest in the West at 59.0 percent. All regions, except the West experienced a year-over-year decline in homeownership.Rental vacancy rates in the fourth quarter were 7.0 percent in the fourth quarter, unchanged from last year and down 0.3 percent from the previous quarter. The homeowner vacancy rate was 1.9 percent for the quarter, also unchanged from last year and last quarter.”An improving labor market and easing credit conditions are finally leading to a gradual rise in the homeownership rate. But the rental vacancy rate has yet to rise, and that will put upwards pressure on rents over the coming months,” Pointon stated.Click here to view the full report.center_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Great Debate: Has the Homeownership Rate Bottomed Out? About Author: Xhevrije West The Great Debate: Has the Homeownership Rate Bottomed Out? Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

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Lawmaker Pushes for Next Step in CFPB Reform

first_img Demand Propels Home Prices Upward 2 days ago “Every government agency should be accountable to the elected representatives of ‘We the People’ and the CFPB should not be an exception to that rule,” said Jeb Hensarling, Chairman of the House Financial Services Committee. “We have the Pentagon which is on budget. We have the Justice Department which is on budget. There is certainly no greater duty we have than to provide for the common defense, and we do not let the Pentagon write its own budget. We should not let the CFPB write its own budget. It is a base matter of congressional oversight and of Article I authority.”While any legislation that rolls back Dodd-Frank or proposes any changes to post-Wall Street financial reform is generally solidly divided among party lines, Barr said he expects the TABS Act to receive support from some of his Democratic colleagues who are not members of the House Financial Services Committee. Sign up for DS News Daily Previous: Economic Turbulence Plays Havoc with Consumer Confidence Next: GSE Mortgage Portfolio Wind Down Stays on Track Data Provider Black Knight to Acquire Top of Mind 2 days ago While Republicans have tried for the last five-plus years to roll back Dodd-Frank and have proposed various measures to reform the Consumer Financial Protection Bureau (CFPB) which was created from Dodd-Frank, their efforts have finally gained some traction in the last month or so.Now that his bill proposing a measure of CFPB reform has passed the House Financial Services Committee, Rep. Andy Barr (R-Kentucky) said the next step is for House Majority Leader Kevin McCarthy (R-California) to schedule the bill for the House floor.Barr’s bill, H.R. 1486, known as the Taking Account of Bureaucrats’ Spending (TABS) Act of 2015, passed in the Committee earlier in April by a vote of 33 to 20. The TABS Act aims to make the CFPB more accountable to taxpayers and ensures effective oversight of the Bureau by Congress.In a public speech earlier this week, Barr explained the need for CFPB reform, saying “The CFPB has targeted your industry with inflammatory press releases, published complaints without any context and continues to hold over you the threat of regulatory action through policy guidance or unprecedented enforcement action.”The TABS Act authorizes an annual budget of $485.1 million for the CFPB, which is the same amount that CFPB Director Richard Cordray said was necessary to fund the Bureau for the most recent fiscal year, according to the Committee. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Lawmaker Pushes for Next Step in CFPB Reform Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CFPB CFPB Reform Dodd-Frank Rep. Andy Barr 2016-04-26 Brian Honea Demand Propels Home Prices Upward 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. Related Articlescenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 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 April 26, 2016 1,076 Views “Every government agency should be accountable to the elected representatives of ‘We the People’ and the CFPB should not be an exception to that rule.”Jeb Hensarling (R-Texas), Chairman, House Financial Services Committee in Daily Dose, Featured, Government, News Tagged with: CFPB CFPB Reform Dodd-Frank Rep. Andy Barr Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Lawmaker Pushes for Next Step in CFPB Reform About Author: Brian Honea Subscribelast_img read more

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Could Single-Family Rental Transactions Pose Minimal Credit Risk?

first_imgHome / Daily Dose / Could Single-Family Rental Transactions Pose Minimal Credit Risk? Previous: Delgado Appointed to Operation Homefront Board of Directors Next: CFPB Unveils Updated Servicing Rules The number of homes removed from single-borrower single-family rental transactions has been negligible, posing minimal credit risk for these transactions, according to a recent report from Morningstar Credit Ratings, LLC. According to the report, in the roughly three years since the first transactions came onto the market, only 0.5 percent of over 93,000 securitized properties have been released from deals through April 2016. Of the 483 properties removed, over half were voluntary releases.The main reasons for property releases according to Morningstar are voluntary release and disqualification as well as less frequent reasons such as condemnation and casualty. Morningstar monitors changes in the number of properties for each deal as well as performs an annual surveillance review based on updated property data for deals seasoned at least a year.The report says that of the 483 properties removed through April, 261 properties were voluntarily released at a premium over the allocated loan amounts, and 127 properties were released as mandatory prepayments. For the remaining 95 properties, they were released within two months of the transaction’s closing and were excluded from Morningstar’s analysis.The majority of property releases reported in the research occurred due to voluntary prepayment, which means when a property release results from a borrower’s voluntary action, the borrower must pay a premium over the property’s allocated loan amount. It is stated that the amount of required premium increases as the aggregate amount of the voluntary prepayments rises beyond certain prescribed limits. The premium is typically capped though at 120 percent of the property’s allocated loan amount.The report cites disqualification as the second major reason properties are removed from deals. Of the 105 disqualified properties, the borrowers paid the allocated loan amount for 88. The remaining 17 were substituted with qualifying properties. None utilized the eligibility reserve account, according to the analysis.In addition to the reasons listed above, Morningstar notes three properties were removed from the transaction pool due to damages from sudden, unexpected, or unusual events, known as casualty losses, which may be tax deductible. Likewise, three additional properties were released because of condemnation occurring when the government exercises its power of eminent domain to appropriate private property in exchange for fair compensation.Lastly the report shows that 16 properties were released through April from the Home Partners of America 2016-1 transaction, the only single-family rental transaction with a right to purchase option, as tenants exercised their rights under Home Partners’ Right to Purchase Agreement to buy the homes.Morningstar reports that borrowers released a fraction of properties from single-borrower single-family rental transactions and only 17 disqualified properties were substituted. Morningstar expects such a proportionately miniscule number of releases to have minimal credit risk impact on these transactions. Share Save 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 The Best Markets For Residential Property Investors 2 days ago About Author: Kendall Baer Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Tagged with: Morning Star Credit Ratings Single Family Rental Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily August 4, 2016 1,175 Views Related Articles Could Single-Family Rental Transactions Pose Minimal Credit Risk? in Daily Dose, Featured, Headlines, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Morning Star Credit Ratings Single Family Rental 2016-08-04 Kendall Baer Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

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Still No Peak in Sight for Home Values

first_img Related Articles February 6, 2018 1,894 Views  Print This Post in Daily Dose, Featured, Headlines, Journal, Market Studies, News About Author: Scott Morgan Subscribe The Best Markets For Residential Property Investors 2 days ago At the end of Q4, home price values nationally were up year-over-year for the fifth consecutive month, according to the latest CoreLogic Home Price Index and HPI Forecast report.The report found that in December 2017, home prices in the United States were half a percent higher in December than in November and an average 6.6 percent higher than in December 2016. Higher growth rates occurred in the West, namely in California, Idaho, Nevada, Utah, and Washington.Moreover, CoreLogic reported, home price values are expected to be another 4.3 percent higher this coming December than they were at the end of 2017. CoreLogic expects monthly values this year to be about half a percent higher than their corresponding 2017 months were.Part of the reason home values are on such an upswing is the lingering shortage of houses available on the market, and part is a still-robust economy.“The number of homes for sale has remained very low,” said Dr. Frank Nothaft, Chief Economist for CoreLogic. “Job growth lowered the unemployment rate to 4.1 percent by year’s end, the lowest level in 17 years. Rising income and consumer confidence has increased the number of prospective homebuyers. The net result of rising demand and limited for-sale inventory is a continued appreciation in home prices.”Frank Martell, President and CEO of CoreLogic, credited the price growth to “aggressive monetary policy, the economic and jobs recovery, and a lack of housing stock.”This, Martell said, is making it tough for less affluent buyers to find homes to invest in.“As home prices and the cost of originating loans rise, affordability continues to erode, making it more challenging for both first-time buyers and moderate-income families to buy. At this point, we estimate that more than one-third of the 100 largest metropolitan areas are overvalued.”According to CoreLogic, 35 percent of the top 100 metropolitan areas had an overvalued housing market as of December. Almost half the top 50 markets were overvalued. Conversely, 28 percent of the top 100 metros and 14 percent of the top 50 metros were undervalued. Thirty-seven percent were where they should be. CoreLogic Home Price Index Home Values HOUSING HPI Forecast Q4 2018-02-06 Scott Morgan Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 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. Home / Daily Dose / Still No Peak in Sight for Home Values Previous: Bracing for a Sea of Change in Mortgage Servicing Next: For Tech in Mortgage, Constant Innovation is Keycenter_img Tagged with: CoreLogic Home Price Index Home Values HOUSING HPI Forecast Q4 Data Provider Black Knight to Acquire Top of Mind 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 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 Still No Peak in Sight for Home Values Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily last_img read more

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The Renter/Investor Relationship

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Investors Rental Sales May 14, 2019 1,360 Views The Renter/Investor Relationship Investors Rental Sales 2019-05-14 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily About Author: Seth Welborn Related Articles With 1 in 10 indicating that they would like to go back to renting, Porch.com takes a look at the booming rental investment landscape, exploring the renter-landlord relationship. According to Porch, between 2006 and 2016, the number of households renting their living spaces increased from 31.2 to 36.6 percent, just a touch lower than the number of households that rented out in 1965. Despite the fact that in general, mortgages are cheaper than rents across America, down payments are still a significant barrier to homeownership, leaving rent as the best option for many. According to the Survey, a large chunk of landlords, over 40%, indicated a stress level of three out of five or higher, with five being the highest level of stress. However, Porch’s survey of 563 renters and 532 landlords reveals that most landlords, 80.1%, believe the money is worth the stress of property management. Additionally, most land owners and managers trust their tenants to maintain their property, and most renters state that if they owned their own home, they would treat with the same amount of care as a rental if not better. However, the deposit problem is still the number one barrier to homeownership for many renters. According to LendingTree, factors impacting homeowner outlook on renting vs. owning can include the level of commitment that goes into becoming a homeowner, as well as the financial responsibilities involved.Rents increased 2.9% year over year in February 2019, and CoreLogic states that single-family rents climbed steadily starting in 2010, and annual rent increases have stabilized, fluctuating between 2.7 and 3.1% for the past 12 months. However, in some metros, renting is still cheaper than owning. LendingTree compared monthly rental and mortgage payments for homes in the 50 largest U.S. metros to rank the top locales for each option. LendingTree’s list of cities where renting is cheaper than owning a home includes Louisville, Kentucky; Milwaukee; Oklahoma City; and more.This preference for renting could be good news for investors. Real estate investments, including rental properties, are more popular than ever, according to a recent Gallup poll. That poll found that 35% of Americans consider real estate to be a superior investment over stocks, compared to 27% who said stocks were a wiser choice.center_img Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Investment, News, Secondary Market 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. Previous: Update on Residential Mortgage-Backed Securities Next: The Gap Between Mortgage Default and Settlement Subscribe Home / Daily Dose / The Renter/Investor Relationship The Best Markets For Residential Property Investors 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days agolast_img read more

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DS5: What Servicers Want to Know

first_img DS5 Forbearance 2020-04-20 Seth Welborn About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News, Webcasts The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / DS5: What Servicers Want to Know Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: DS5 Forbearance Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Previous: Addressing Nonbank Servicer Liquidity Needs Next: Leveraging Machine Learning for Better Default Decisions In the newest episode of DS5: Inside the Industry, Sean Ryan, CEO of Aspen Grove Solutions and Christopher Whalen, an investment banker, author, and Chairman of Whalen Global Advisors LLC will be discussing the concerns of servicers as well as the future of forbearances, loan modifications, and more.Ryan will discuss a new white paper by Aspen that explores pressing industry concerns stemming from COVID-19, including loan modifications and property inspections.The white paper—entitled “Forbearance in the CARES Act: A Review of Issues, Impact, and Mitigation Strategies”—can be read in full here.As the white paper explores, the CARES Act creates significant changes to current forbearance processes for government-backed loans, which amount to roughly $6.9 trillion in asset value. In addition, the streamlined forbearance processes on offer are both very generous to homeowners and restrict some established forms of servicer diligence, which could lead more borrowers to utilize the programs than normal and put added strain on servicers.Later in the episode, we’ll be speaking with Whalen will be diving into the government’s response to the current pandemic, including servicer liquidity concerns and the long-term impact of mortgage forbearance programs. According to Black Knight, as of April 16, more than 2.9 million homeowners, or 5.5% of all mortgages, have entered into COVID-19 mortgage forbearance plans. This population represents $651 billion in unpaid principal and includes 4.9% of all GSE-backed loans and 7.6% of FHA/VA loans.You can watch the full episode here or at the embed below. Demand Propels Home Prices Upward 2 days agocenter_img April 20, 2020 1,324 Views Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Related Articles The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago DS5: What Servicers Want to Know Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Subscribelast_img read more

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How Far California Home Values Dropped Due to Wildfires

first_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save in Daily Dose, Featured, News Home / Daily Dose / How Far California Home Values Dropped Due to Wildfires Related Articles The Best Markets For Residential Property Investors 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 December 10, 2020 935 Views According to a recent Redfin report, the wildfires that ravaged through Northern California in 2018 wreaked havoc on home values across the region. Plummeting home values are not only limited to this neck of the woods. However, just as a vast majority of America’s housing market is hitting its stride and hot as ever, other areas of the United States have been hit hard by the pandemic and all of its resulting repercussions.These struggling areas—where home values continue to decline from this time last year— include Brooklyn, San Francisco, and Portland, Oregon, among others.As mentioned above, regarding Northern California home values dropping due largely in part by the record-breaking wildfires, one city, in particular, stands out. According to Redfin data, in Paradise, California, home values dropped 20.5% during October when compared with price tags from a year ago. This decline set the city apart as being the zip code that experienced the greatest dip in the entire nation by comparison. (It is important to note that the focus of Redfin’s analysis was on home values versus home-sale prices.)Redfin chief economist Daryl Fairweather commented on the plight currently facing Paradise in particular: “Relative affordability is luring some buyers into certain wildfire-prone parts of California, but Paradise is not one of them.”Fairweather added further explanation as to reasons why: “Much of the town was destroyed by the Camp fire two years ago, and the pandemic halted a return to normal life, including a pause on rebuilding the nearly 14,000 homes that were lost in the fire. Most of the properties for sale right now are empty lots where homes used to be. The devastation caused by past fires and the looming threat of future wildfires are causing buyers to look elsewhere.”Portland Redfin agent Nicole Arnold commented on how she is seeing similar struggles in her area of Oregon: “Peaceful and violent protests have persisted in downtown Portland since the beginning of the summer, and they’ve been disruptive to people living in the area and driven homebuyers to other parts of the city.”She added: “The civil unrest combined with empty office buildings, closed restaurants, and remote workers’ desire for large homes with a lot of outdoor space have caused home values to decline in the heart of downtown, where homes are relatively small and expensive.” Demand Propels Home Prices Upward 2 days ago  Print This Post Previous: Strong Price Growth Creates Record-Level Property Equity Next: The American Dream of Homeownership is ‘Very Much Alive’ Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Andy Beth Miller The Week Ahead: Nearing the Forbearance Exit 2 days ago How Far California Home Values Dropped Due to Wildfires Andy Beth Miller is an experienced freelance editor and writer. Her main focus is travel writing, and when she is not typing away from her computer at her home in the Hawaiian Islands, she is regularly roaming the world as a digital nomad, and loving every minute of it. She has been published in myriad online and print magazines, is a fan of all things outdoors, and finds life (and all of its business, technological, and cultural facets) fascinating in their constant evolution. She is excited to spectate as the world changes, and have a job that allows her to bring a detailed account of those constant shifts to her readers at home and abroad. Servicers Navigate the Post-Pandemic World 2 days ago 2020-12-10 Cristin Espinosa Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

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Eircom says it did respond to council’s calls – blames crossed wires for confusion

first_img Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly 448 new cases of Covid 19 reported today Facebook Twitter Google+ By News Highland – December 14, 2011 Eircom has rejected claims by a Letterkenny Town Councillor that it has ignored a council request for a briefing on its future plans in the town.Councillor Dessie Larkin said it was not good enough that Eircom has so far ignored a request to brief the council on plans, unveiled in August, to introduce fibre optic broadband in Letterkenny.Cllr Larkin had a motion before council this week calling for a debate on Eircom’s plans, but  he was told the motion couldn’t be heard because there is no update to discuss.Paul Bradley is head of communications with Eircom – he says that isn’t true:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/12/eircom.mp3[/podcast] Three factors driving Donegal housing market – Robinson Twitter Google+ Previous articleDeputy Pringle will not pay new Household Charge and calls on others to join himNext article7 Donegal Tax cases net Revenue Commisioner 1.7 million euro News Highland center_img Facebook Help sought in search for missing 27 year old in Letterkenny Newsx Adverts WhatsApp RELATED ARTICLESMORE FROM AUTHOR WhatsApp Pinterest Eircom says it did respond to council’s calls – blames crossed wires for confusion Calls for maternity restrictions to be lifted at LUH Pinterestlast_img read more

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Emigration blamed for fall in Donegal live register figures

first_img Calls for maternity restrictions to be lifted at LUH Facebook Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleFormer KFO chief says time for talking over Macherel is overNext articlePolice declare Strabane security alert a hoax News Highland WhatsApp Twitter Twitter Facebook Emigration blamed for fall in Donegal live register figures Google+ The Mayor of Buncrana says the primary reason for a significant fall in numbers signing on in Inishowen is emigration.There was a drop of 7% in the numbers on the live register on the peninsula. Most other offices recorded a drop – in Killybegs the number of the live register dropped by 14%Independent Mayor of Buncrana, Nicolas Crossan says most of that can be attributed to young people leaving the country looking for jobs:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/03/nichr1pmdole.mp3[/podcast]center_img Pinterest Pinterest Newsx Adverts WhatsApp RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – March 5, 2012 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

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