DS News Webcast: Friday 6/6/2014

first_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Sign up for DS News Daily DS News Webcast: Friday 6/6/2014 The Best Markets For Residential Property Investors 2 days ago in Featured, Media, Webcasts Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago 2014-06-06 DSNews Home / Featured / DS News Webcast: Friday 6/6/2014center_img Subscribe Previous: Mortgage Rates Snap Five-Week Decline Next: U.S. Adds 217,000 New Jobs in May Data Provider Black Knight to Acquire Top of Mind 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago About Author: DSNews June 6, 2014 545 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save CoreLogic released an analysis of residential properties in the first quarter of 2014, focusing specifically on homes with negative equity. The company found that more than 300,000 homes returned to positive equity in the quarter, bringing the total number of mortgaged residential properties with equity to more than 43 million. The company’s analysis found that roughly 6.3 million properties, or 12.7 percent of all residential properties with a mortgage, had negative equity as of the first quarter of 2014.Underwater homes have a national aggregate value of negative equity at $383.7 billion at the end of the quarter, according to CoreLogic. Negative equity is down $16.9 billion from roughly 400 billion in the fourth quarter of 2013. The company commented that of the 43 million residential properties with equity, roughly 10 million have less than 20 percent equity. Homes in this particular situation may have a more difficult time refinancing or obtaining new financing to sell and buy another home due to tougher underwriting standards.Among the 36 million people who moved between 2012 and 2013, a new study from the United States Census Bureau found that the most important reason people moved was to find a new or better home or apartment. The study reported that 8 percent cited a desire for cheaper housing, while 5 percent said the most important reason for moving was to be closer to work or for an easier commute. In total, 11.7 percent of surveyed participants moved in the year, with 48 percent, or 17.2 million, moving for housing reasons compared to family or employment.last_img read more

Texas Courts Validate MERS Assignments

first_img Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Two U.S. district courts in Texas held that MERS assignments were valid for two separate cases in which Bank of America was the defendant, granting motions to dismiss in both cases, according to an announcement from MERSCORP Holdings.In the case of Campo vs. Bank of America in the U.S. District Court for the Southern District of Texas, Houston Division, the plaintiff argued that the assignment of the deed of trust to MERS failed to transfer any servicing rights because MERS had no enforceable interest in the deed of trust, and therefore the assignment to MERS was invalid.The court, citing a precedent in the case of Reece v. U.S. Bank Nat’l Ass’n, Our Court has expressly recognized that MERS may assign a deed of trust to a third party and that such assignments confer the new assignee standing to non-judicially foreclose on property associated with that particular deed of trust.”In a similar recent case of Rivers v. Bank of America in the U.S. District Court for the Northern District of Texas, Dallas Division, the court adopted the Findings, Conclusions, and Recommendations of Magistrate Paul Stickney, who found that “[g]iven that the Deed of Trust in this case names MERS as the beneficiary… and because MERS subsequently assigned the Deed of Trust to the Defendant, this assignment transferred all rights in the Deed of Trust, including the right to foreclose on the Property.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Deed of Trust Assignments MERS Mortgage Electronic Registration Systems 2016-04-08 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago April 8, 2016 1,189 Views Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Deed of Trust Assignments MERS Mortgage Electronic Registration Systems The Best Markets For Residential Property Investors 2 days ago  Print This Post 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. “These rulings are consistent with other decisions in Texas and in courts throughout the country.”Janis Smith, MERSCORPcenter_img Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Texas Courts Validate MERS Assignments Related Articles About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago Previous: Housing Market to Remain on ‘Solid Trajectory’ Next: Wells Fargo Settles for $1.2 Billion Over ‘Shoddy’ Mortgage Practices Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Texas Courts Validate MERS Assignments “We are pleased that both courts continue to recognize that MERS has a valid interest in the deed of trust and has the right to assign that interest to third parties,” said MERSCORP Holdings VP for Corporate Communications, Janis Smith. “These rulings are consistent with other decisions in Texas and in courts throughout the country.”MERS has won several cases last year and in the first few months of 2016 in which the deed of trust assignment was challenged, including a few in Texas. In September, a district court in Collin County, Texas, reinstated a MERS lien that had been extinguishedA district court in Collin County, Texas, reinstated a MERS lien that was previously extinguished in a quiet title action in the case of Mortgage Electronic Registration Systems, Inc. v. Kingman Holdings, Inc.  MERS contended that their due process rights under both the Texas and U.S. Constitutions were violated when Kingman did not provide MERS, as record beneficiary of the deed of trust, with notice or make MERS a party to Kingman’s action that sought to extinguish the MERS lien. Sign up for DS News Daily in Daily Dose, Featured, Newslast_img read more

Fed Makes it Tougher for Banks to be ‘Big’

first_img Banks Federal Reserve Stress Tests Too Big to Fail 2016-06-02 Brian Honea 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. Governmental Measures Target Expanded Access to Affordable Housing 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily June 2, 2016 1,072 Views Share Save Related Articles Tagged with: Banks Federal Reserve Stress Tests Too Big to Failcenter_img Fed Makes it Tougher for Banks to be ‘Big’  Print This Post About Author: Brian Honea Previous: Plaintiffs Score a Victory in GSE Profit Sweep Suits Next: Freddie Mac Unloads More Deeply Delinquent Loans Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago While the debate continues over whether or not “Too Big to Fail” still exists, the Federal Reserve is trying to give the “big” banks an incentive to get smaller.Two Fed governors, in separate public comments on Thursday, announced that the Fed’s stress test requirements will get tougher for systemically important institutions. In effect, the tougher stress test requirements will make it tougher for the “big” banks to be big.Fed governor Daniel Tarullo told Bloomberg television that the tougher requirements include “a significant increase in capital.” Fed governor Jerome Powell said at a banking conference on Thursday that he hopes the new requirements will “fully internalize the risk” their size poses to the economy and that he has “not reached any conclusion that a particular bank needs to be broken up or anything like that.” Instead, Powell said the Fed will “raise capital requirements to the point at which it becomes a question that banks have to ask themselves,” according to the Wall Street Journal.Capital requirements for the banks have been significantly raised since the financial crisis in 2008, which has forced the banks to evaluate whether or not they can maintain their current size and still be profitable. JPMorgan Chase, which is the largest bank in the country by assets, has already shrunk in response to the Fed raising capital requirements during normal times in 2015, according to the Journal.The eight banks or investment banking firms affected by the Fed’s new requirements are Bank of America, Citigroup, Goldman Sachs Group, Inc., JPMorgan Chase, Morgan Stanley, Wells Fargo & Co., State Street Corp., and Bank of New York Mellon Corp.The Fed announced on Thursday that results from the stress tests conducted as part of the Dodd-Frank Act will be released on Thursday, June 23, and that related results from the Comprehensive Capital Analysis and Review (CCAR), will be released on Wednesday, June 29. Both sets of results will be released at 4:30 p.m. EST on their respective days.The tougher stress test requirements are not the only incentive for the eight systemically important institutions to get smaller. Out of those eight institutions, the Fed and the FDIC in April jointly rejected the “living wills” (plans as to how they would enter bankruptcy without causing widespread damage to the U.S. financial industry) of five of them—Bank of America, Bank of New York Mellon, JPMorgan Chase, State Street, and Wells Fargo. Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Fed Makes it Tougher for Banks to be ‘Big’ Subscribelast_img read more

Here’s One Way to Fight Zombie Properties

first_img Related Articles Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Here’s One Way to Fight Zombie Properties Local municipalities in the areas hit hardest by the foreclosure crisis have made various attempts through legislation to combat the problem of “zombie properties,” or vacant and abandoned properties in the process of foreclosure.While the number of zombie properties has been on the decline—the most recent data reported by RealtyTrac showed 1.4 million vacant properties nationwide, with about 19,000 of those properties in active foreclosure—the question of whose responsibility it is to maintain those properties has been a major sticking point between servicers and lawmakers. The longer the properties remain vacant, the more potential they have to become magnets for squatters, vandalism, and violent crime, bringing down property values and lowering the quality of life in their surrounding communities.Hempstead Town, New York—population 800,000, making it the largest municipality designated as a town in the United States—is proposing a solution to the problem in order to combat the zombie property problem: Hold banks and servicers responsible. Town Supervisor Anthony Santino has proposed a law that would require the servicer of the mortgage provide a $25,000 “security fund” (either by cash, cash bond, or letter of credit) to maintain vacant and abandoned properties that are in the process of foreclosure in compliance with the Hempstead Town Code.“It’s time for big banks and other financial institutions to ‘do the right thing’ when it comes to ensuring that properties which they have seized don’t become a blight on local neighborhoods,” Santino said. “It’s unacceptable for banks to make big profits on home mortgages and then turn their backs on neighbors by failing to maintain these same properties once they foreclose on them.  That’s why I have come up with a plan that puts lenders ‘on the hook,’ ensuring that they put up ‘security funding’ to guarantee property upkeep of vacant homes.”“It’s time for big banks and other financial institutions to ‘do the right thing’ when it comes to ensuring that properties which they have seized don’t become a blight on local neighborhoods.”Anthony Santino, Hempstead Town SupervisorSantino said the money would be used to provide maintenance such as lawn care, removal of debris, securing of properties by boarding up windows and doors, graffiti removal, and covering pools, among other items, in the event that “the lender fails in its responsibility to maintain the home.”Santino’s plan for maintaining zombie properties calls for the servicer to provide $25,000 for each foreclosure initiated and also includes provisions to replenish the security fund as money from the fund is used or depleted, in order to continuously maintain the properties. The proposal from Santino also calls for penalties of up to $1,500 per day for lenders to fail to provide the $25,000 security fund under the proposed law, a Santino spokesperson told DS News.The legislation will be heard by the Hempstead Town Board on Tuesday, May 24, beginning at 10:30 a.m. EST. in Daily Dose, Featured, Foreclosure, News Home / Daily Dose / Here’s One Way to Fight Zombie Properties Tagged with: Foreclosures Hempstead Town New York Vacant and Abandoned Properties Zombie Properties About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Sign up for DS News Daily May 23, 2016 2,222 Views Previous: Appellate Court Strikes BOA’s Penalty in ‘Hustle’ Case Next: What is Driving Risk Higher on First-Time Buyer Loans? Governmental Measures Target Expanded Access to Affordable Housing 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Foreclosures Hempstead Town New York Vacant and Abandoned Properties Zombie Properties 2016-05-23 Brian Honea The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Mortgages Driving Overall Delinquency Improvement

first_img The Best Markets For Residential Property Investors 2 days ago Previous: Changing of the Guard Next: Now Below 2016 Cap, Fannie Mae Portfolio Shrinks Further Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Mortgage Delinquencies New York Fed 2016-05-30 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Mortgage Delinquencies New York Fed Share Save Repayment rates generally improved for all types of loans in the first quarter, with about five percent of outstanding debt in some form of delinquency, according to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit.According to the New York Fed, the decline in overall delinquencies in Q1 was largely due to continuing improvement in the number of mortgage delinquencies, despite a slight uptick in the share of mortgages that were 90 days delinquent from the previous quarter (from 2.1 percent up to 2.2 percent).“Delinquency rates and the overall quality of outstanding debt continue to improve,” said Wilbert van der Klaauw, SVP at the New York Fed. “The proportion of overall debt that becomes newly delinquent has been on a steady downward trend and is at its lowest level since our series began in 1999. This improvement is in large part driven by mortgages.”Fewer consumers filed for bankruptcy in Q1; about 207,000 consumers added a bankruptcy notation to their credit report during the quarter, which was a decline of 19 percent from the same quarter in 2015.With the continued improvements in mortgage delinquencies came an increase in the amount of overall household debt, by $136 billion over-the-quarter and by $401 billion over-the-year up to $12.25 trillion. About two-thirds of overall debt was mortgage debt, which totaled $8.37 trillion in Q1, a four-and-a-half year high—and an increase of $120 billion over-the-quarter and $198 billion over-the-year.A rise in median credit score of newly originated mortgages could mean that fewer of these loans will default down the road. Approximately 58 percent of all new mortgage dollars went to borrowers with credit scores of higher than 760, according to the New York Fed. According to the AEI International Center on Housing Risk, the median credit score for all individuals with a score is 713. Related Articles Home / Daily Dose / Mortgages Driving Overall Delinquency Improvement 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News Subscribe Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago May 30, 2016 1,126 Views Mortgages Driving Overall Delinquency Improvementlast_img read more

Many caught out by overnight snowfall

first_img RELATED ARTICLESMORE FROM AUTHOR WhatsApp Twitter Calls for maternity restrictions to be lifted at LUH Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Pinterest Roads across many areas of the northwest are in a Dangerous condition this Friday morning following snow fall overnight and this morning.Many people were caught out waking up to inches of snow in places after Met Eireann had only advised of occasional wintry showers on northern coasts.Many roads in Donegal are in a dangerous state and gardai are urging caution, while roads are also said to be dangerous in parts of Derry and Tyrone , the Norther Ireland Roads Service said its network has been treated. Newsx Adverts Facebook Facebook Many caught out by overnight snowfallcenter_img Google+ Previous articleGovernment blaims council for Greencastle harbour pull-outNext articleDerry nose biter sent to prison for 3 years News Highland LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest NPHET ‘positive’ on easing restrictions – Donnelly Twitter WhatsApp Guidelines for reopening of hospitality sector published Three factors driving Donegal housing market – Robinson By News Highland – February 19, 2010 last_img read more

47-year-old man described as hero after six children rescued near Portnoo

first_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Guidelines for reopening of hospitality sector published WhatsApp Three factors driving Donegal housing market – Robinson Twitter 47-year-old man described as hero after six children rescued near Portnoo Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Facebook News RELATED ARTICLESMORE FROM AUTHOR Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton center_img Twitter Facebook Calls for maternity restrictions to be lifted at LUH Pinterest WhatsApp Previous articleBundoran Town Council that AIB decision will be reversedNext articleSalmon fishing season extended due to bad weather News Highland Google+ A 47-year-old man has been described as a hero after six children were rescued off the coast of Donegal today.The man, who is an uncle of some of the children, helped five of the group to safety.He himself was then taken to Letterkenny General Hospital as a precaution.The children were believed to have been body-boarding when they were caught in a current.The alarm was raised by an onlooker who contacted Malin Head Coast Guard service just before 2pm.Patsy Canning from the Malin Head Coastguard, says a tragedy was avoided..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/08/patsy.mp3[/podcast] Google+ By News Highland – August 2, 2012 last_img read more

Mayor to launch intiative to bring people home for St Patrick’s Day

first_img Need for issues with Mica redress scheme to be addressed raised in Seanad also By News Highland – March 11, 2011 Previous article“DiverseCity” project to explore cultural history of Derry’s wallsNext articleGweedore firm reaping benefits of national manufacturing award News Highland Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Google+ Calls for maternity restrictions to be lifted at LUH WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Facebook RELATED ARTICLESMORE FROM AUTHORcenter_img Newsx Adverts Twitter Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Donegal Mayor Cora Harvey says plans for a new initiative to promote Donegal as a St. Patrick’s Day destination will be unveiled soon.Councillor Harvey wants the council to work with the tourism industry to encourage people to come home for St Patrick’s day with the future aim of establishing middle march as a new spring break period.She says that while the initiative is too late for this year, it should be and running next year and in full operation by 2013:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/03/cora3pm.mp3[/podcast] Mayor to launch intiative to bring people home for St Patrick’s Day Twitter Pinterest Guidelines for reopening of hospitality sector published Pinterest Facebooklast_img read more

Man due in court following Derry assault

first_img Man due in court following Derry assault Twitter WhatsApp Pinterest Derry Magistrates CourtA 21-year-old man is due before Derry Magistrates’ Court today charged with wounding with intent to cause GBH and possession of an offensive weapon.The charges relate to an incident yesterday morning near a bus stop on Strand Road, Derry, close to the junction with Great James’ Street.A 33-year-old man required hospital treatment as a result of injuries he received.A 33-year-old female also arrested in relation to the same assault has been bailed pending further enquiries.Police are appealing for witnesses to the assault to contact Strand Road Police Station. Twitter Google+ WhatsApp 75 positive cases of Covid confirmed in North By admin – June 23, 2015 Facebook Facebookcenter_img 365 additional cases of Covid-19 in Republic Homepage BannerNews Google+ RELATED ARTICLESMORE FROM AUTHOR Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Main Evening News, Sport and Obituaries Tuesday May 25th Previous articleSemi-finals this morning at Irish Women’s Close Championship in RosapennaNext articleAudio update – New EU Healthcare Directive could help patients on LGH waiting lists – Harkin admin Further drop in people receiving PUP in Donegal Gardai continue to investigate Kilmacrennan firelast_img read more

John McAreavey will not be recalled as a witness in his wifes murder trial

first_imgNews WhatsApp Facebook Prosecutors in the Michaela McAreavey murder trial will not recall her husband to the witness stand.A prosecution lawyer had said John McAreavey had “mixed up” some of the dates in his evidence on Wednesday.Following an objection from the defence, he will not have to return to court to give a clarification.30-year-old Avinash Treebhoowoon, and 42-year-old Sandip Moneea, both deny murdering the County Tyrone teacher in her honeymoon suite in Mauritius in January 2011.Today the court is due to hear from a room service attendant at the Legends Hotel where Mrs McAreavey was killed. Gardai continue to investigate Kilmacrennan fire Pinterest By News Highland – June 8, 2012 Facebook RELATED ARTICLESMORE FROM AUTHOR John McAreavey will not be recalled as a witness in his wifes murder trial WhatsApp Google+center_img Google+ Twitter Pinterest 365 additional cases of Covid-19 in Republic Twitter Man arrested on suspicion of drugs and criminal property offences in Derry Main Evening News, Sport and Obituaries Tuesday May 25th Further drop in people receiving PUP in Donegal 75 positive cases of Covid confirmed in North Previous articleDeputy Joe McHugh says Donegal people were happy to see treaty passed nationallyNext articleSinn Fein will have no problem if Labour Cllr McBrearty is elected as Mayor News Highland last_img read more