first_img Banks CFPB Consumer Financial Protection Bureau Financial Institutions Privacy Policy Disclosure 2014-10-20 Brian Honea Previous: Maryland Foreclosure Activity Jumps in Q3 Next: Former Alabama Bank Manager Sentenced for Fraud Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Demand Propels Home Prices Upward 2 days ago Related Articles The Consumer Financial Protection Bureau (CFPB) on Monday announced the finalization of a rule proposed in May that would allow companies that limit consumer data-sharing to post privacy notices online instead of delivering them individually.Financial institutions are required to send annual privacy notices to their customers as a provision of the Gramm-Leach-Bliley Act (GLBA) that describe how the institutions share consumers’ nonpublic personal information with unaffiliated third parties. The institution is obligated to inform the consumers of their right to opt out and inform them how to opt out if the information is shared with an unaffiliated third party.Financial institutions can now post privacy notices online under the new CFPB rule instead of sending paper copies if they meet certain requirements, such as not sharing data in a way that triggers the consumers’ opt out rights. Both banks and non-banks within CFPB’s jurisdiction under the GLBA are affected by the new rule. Institutions that choose to use the new online disclosure method will be required to use the model disclosure form that federal regulatory agencies developed in 2009.”Consumers need clear and accessible information about how their personal information is being used in the marketplace, but some of these requirements were redundant,” CFPB Director Richard Cordray said. “Posting privacy notices online will make it easier for consumers to access these important policies, while also making it cheaper for financial institutions to provide disclosures.”Qualifying institutions that choose the new online disclosure method must inform consumers annually about the availability of such disclosures. Whereas previously institutions were required to send separate communications regarding privacy disclosures to consumers, under the new rule, the institutions may include information about the availability of disclosures on regular communication such as a credit card monthly billing statement. Consumers will be informed that the annual privacy notice is available online or, if consumers request it, by paper.Institutions that choose not to use the new online disclosure method will still need to deliver the annual privacy notice using other delivery methods.Under the new rule, consumers will have constant online access to their institution’s privacy policy, as opposed to receiving a copy of the privacy policies just once a year. The new rule will also give financial institutions incentive to limit their data sharing (thus reducing costs), since an institution that shares the data with an unaffiliated third party will trigger the consumer’s opt out rights and make that institution ineligible to use the new online disclosure method.The online disclosure method of financial institutions’ privacy policies will better educate consumers, since the government’s model disclosure form used allows consumers to easily understand their financial institutions’ privacy policies. Also, CFPB estimates that financial institutions could save the industry about $17 million per year by using the new online disclosure method.The finalized rule is largely the same as it was originally proposed in May, with just some minor revisions. It goes into effect immediately when it is published in the Federal Register. October 20, 2014 1,078 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / CFPB Finalizes Privacy Policy Disclosure Rule Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribe Tagged with: Banks CFPB Consumer Financial Protection Bureau Financial Institutions Privacy Policy Disclosure About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago CFPB Finalizes Privacy Policy Disclosure Rule Sign up for DS News Daily last_img read more

first_img Share Save The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Lawsuit Accuses Servicer of Illegally Marking Up Default Servicing Fees Next: DS News Webcast: Wednesday 11/12/2014 October Sees Improvement in Labor Market Conditions Data Provider Black Knight to Acquire Top of Mind 2 days ago A gauge released this week shows the labor market improved at a moderate pace in October, with previous measures also seeing a lift in revision.The Federal Reserve’s Labor Market Conditions Index (LMCI) rose 4 points last month, the central bank reported, matching September’s revised improvement. The Fed originally reported a 2.5-point pickup in the index for September.The index covers 19 separate indicators, including the national unemployment rate, average hourly earnings, and the transition rate from unemployment to employment.The Fed’s release follows the latest employment situation report from the Bureau of Labor Statistics, which put the U.S. unemployment rate at 5.8 percent in October as employers added 214,000 jobs. The news was mixed overall, however, as wages continued to stagnate.With the latest measure, the LMCI continued its now 28-month growth streak, though increases in the last few months have been modest compared to spring. The index’s growth topped out this year in April, when the Fed reported a gain of 7.1 points.The Fed does not report on the index’s overall value. Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Employment Jobs. Federal Reserve Labor Market Conditions Index Subscribe  Print This Post Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News About Author: Tory Barringer Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / October Sees Improvement in Labor Market Conditions Employment Jobs. Federal Reserve Labor Market Conditions Index 2014-11-11 Tory Barringer Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 11, 2014 782 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

first_img Related Articles 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. Nomura’s Penalty in Mortgage-Backed Securities Lawsuit Increased to $839 Million Sign up for DS News Daily Nomura Holdings and the Royal Bank of Scotland (RBS) have agreed to pay an extra $33 million in addition to the $806 million a judge ordered them to pay for allegedly misrepresenting the quality of mortgage-backed securities sold to Fannie Mae and Freddie Mac in the run-up to the financial crisis, according to media reports.The total brings the penalty to $839 million for Nomura and RBS in a suit brought about by the GSEs’ conservator, FHFA, in 2011, according to a report from Reuters. The Agency alleges it suffered monumental losses when the sponsor of the mortgage-backed securities, Nomura, and the securities’ underwriter, RBS, did not follow underwriting guidelines on 68 percent of a sample of a bundle of securities backing more than $2 billion worth of mortgages sold to the GSEs prior to the financial crisis of 2008.In May after a two-month non-jury trial, U.S. Judge Denise Cote found Nomura and RBS liable for its role in the sale of the shoddy mortgage-backed securities to Fannie Mae and Freddie Mac and ordered the two banks to pay $806 million in penalties. Nomura and RBS agreed to pay the $33 million if they pay at least $413 million for state law violations alleged by the FHFA. If the amount the banks pay for state law violations is reduced to $272 million, the parties agreed to let Cote decide how much of the extra $33 million should be paid, according to Reuters. According to the agreement, any amount for state violations that is less than $272 million will void the agreement.Nomura was one of 18 lenders sued by the FHFA in 2011 to recoup U.S. taxpayer costs following the government’s $188 billion bailout of Fannie Mae and Freddie Mac in 2008, after which the government seized control of both Enterprises. Nomura was the first one of the lenders to take the FHFA to trial; 16 lenders settled with the FHFA for a combined total of about $18 billion and the other lender sued, RBS, is awaiting trial in a case separate from the Nomura one.The FHFA has a separate suit pending against RBS in the U.S. District Court in Connecticut over the selling of about $32 billion worth of faulty mortgage-backed securities to Fannie Mae and Freddie Mac before the crisis. The bank had set aside about $3 billion for a possible settlement but reports surfaced that the FHFA might ask as much as $7.7 billion. The case should go to trial sometime next year if a settlement is not reached. In late August, RBS lost a bid to have the FHFA’s suit dismissed. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Secondary Market The Best Markets For Residential Property Investors 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Lawsuits Mortgage-Backed Securities Nomura Holdings Royal Bank of Scotland Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Fannie Mae FHFA Freddie Mac Lawsuits Mortgage-Backed Securities Nomura Holdings Royal Bank of Scotland 2015-09-04 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Share Save Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Los Angeles Drops Mortgage Discrimination Suit Against JPMorgan Chase Next: Housing and the Economy Have Returned to a Virtuous, Supportive Cycle The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Nomura’s Penalty in Mortgage-Backed Securities Lawsuit Increased to $839 Million September 4, 2015 1,508 Views Subscribelast_img read more

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles in Daily Dose, Featured, News  Print This Post Low delinquencies, a significant credit enhancement build-up, and high credit quality of loans remaining in pools are all factors resulting in improved credit performance of post-crisis jumbo residential mortgage-backed securities (RMBS) transactions rated by Moody’s, according to Moody’s Investors Service.According to Moody’s analysts Zimin Li and Michael B. Gallagher, “Elevated voluntary prepayments and transaction structures provide sufficient and continually increasing credit enhancement for senior bonds and, as of March 2016, credit enhancement levels for all transactions were adequate.”A jumbo mortgage is defined as a home loan for an amount that exceeds conforming loan limits established by regulation. For most of the United States, the jumbo loan limit is $417,000; for the highest-cost areas, it is $625,000.All jumbo RMBS transactions have had low delinquencies since issuance, and the performance of jumbo RMBS transactions is expected to remain strong given the high credit quality of the remaining collateral. Voluntary prepayments are remaining elevated, which continues to enhance the credit quality of post-crisis jumbo RMBS.As long-term interest rates rise, prepayment rates will likely decline in the future on jumbo RMBS; but according to Li and Gallagher, the credit enhancement to senior bonds built will provide sufficient coverage against serious delinquencies to these transactions. The Moody’s data shows that credit enhancement for senior bonds has risen for post-crisis jumbo RMBS while serious delinquencies have stayed low.As for the outlook for jumbo RMBS, according to Li and Gallagher, “Delinquencies in post-crisis jumbo RMBS will remain low owing to a lack of negative selection, the continuously strong performance of the remaining loans, and the improving US housing market. As the transactions season and mortgage loans prepay, the remaining bonds will continue to be backed by the high-credit-quality loans with higher borrower equities in the properties, helping to keep future default rates on the loans low.”Click here to view the complete report from Moody’s. Credit Quality Jumbo Residential Mortgage-Backed Securities Moody’s 2016-05-23 Brian Honea Tagged with: Credit Quality Jumbo Residential Mortgage-Backed Securities Moody’s Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Present and Future Look Bright for Jumbo RMBScenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea The Best Markets For Residential Property Investors 2 days ago Previous: What is Driving Risk Higher on First-Time Buyer Loans? Next: Spring Has Brought on More Delinquencies May 23, 2016 1,196 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 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. Home / Daily Dose / Present and Future Look Bright for Jumbo RMBS Sign up for DS News Daily Subscribelast_img read more

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Headlines, News Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago August 23, 2017 1,669 Views  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] The Best Markets For Residential Property Investors 2 days ago Related Articles Home / Daily Dose / Five Star CEO to be Featured Presenter at the National Property Preservation Conference Servicers Navigate the Post-Pandemic World 2 days agocenter_img Ed Delgado, President and CEO of the Five Star Institute, was announced as one of the featured presenters at the upcoming National Property Preservation Conference (NPPC), which will take place in Baltimore, Maryland from November 7-9. This year’s event will mark the 13th year of the conference.“I am honored and humbled to have the opportunity to once again address the audience at the National Property Preservation Conference,” said Delgado. “This forum has been vital to the progress we’ve made across the industry, and it is important that we continue to work together to continue that momentum.”The NPPC was originally conceived in 2003 when it was noticed that there was a concerning lack of industry conversation regarding the subject of property preservation. Each year, the NPPC strives to bring together servicers, investors, and leaders in the mortgage industry to discuss pressing issues in the industry and develop solutions through communication and teamwork.“For the past 12 years, the National Property Preservation Conference has been the preeminent forum that brings leaders from HUD, the GSEs, mortgage servicing, and field services companies together to focus on solutions for property preservation issues,” said Alan Jaffa, CEO of Safeguard Properties, the host sponsor of the conference. “Ed’s participation as moderator of a key conference session and his industry expertise have been paramount to the ongoing success of the event.”Delgado has been honored as a moderator and presenter at the NPPC in the past. This year, he plans on addressing the looming question as to whether or not the mortgage finance industry is on the verge of another housing bubble based on where the current market is heading.“There are many similarities between the previous housing bubble and our current economic situation,” said Delgado. “As an industry, we have to be cautious as to not make the same mistakes as we have in the past, and I hope to highlight some key warning signs for my colleagues.”To register, or find out more information about the NPPC, click here. Tagged with: NPPC Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Joey Pizzolato Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Five Star CEO to be Featured Presenter at the National Property Preservation Conference NPPC 2017-08-23 Joey Pizzolato Previous: Making Amends Next: Alexa, Get me a Mortgage Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

first_img Related Articles Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Late Taxpayers Beware: You Could Be Foreclosed on in This County Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 25, 2017 1,114 Views Mecklenburg County in North Carolina is issuing a warning to homeowners who are behind on their property taxes. According to their searchable map of properties the county can foreclose on, 1,641 owners are in danger.According to Mecklenburg Tax Collector Neal Dixon, the county has only had to foreclose 36 to 40 times in recent years. But September 12, residents five or more years past due were notified of their inclusion on the map, which is intended to find bidders for the properties.“We do think there are properties that can be useful to a new owner,” Dixon said in an earlier report warning of the incoming decision. “Addressing these delinquencies will take property where taxes have gone unpaid for various reasons and potentially turn it into property that will generate tax revenue again.”The Office of the Tax Collector worked with two legal services firms and one real estate service firm to complete the process, with the law firms ready to handle collections while the real estate firm prepares to market the foreclosed properties. If a property has no takers, the county plans to bid on the property itself.The map, which any party can see here, includes land only, residential with structure, and commercial with structure foreclosures. Once a user clicks on a property, they can see the address, property description, amount due, assessed value, number of bills, and attorney assigned to the property.The county’s policy is to work with taxpayers who have trouble paying their bills, but due to state law, the county cannot consider demographic or socioeconomic factors in going after delinquents. Officials are urging taxpayers to contact them before their tax due date.“We’re trying to break the cycle of delinquency,” Dixon said. Home / Daily Dose / Late Taxpayers Beware: You Could Be Foreclosed on in This County in Daily Dose, Featured, Foreclosure, Headlines, News Tagged with: Foreclosure  Print This Post Previous: GSE Portfolio Shows Improvement Next: Bettering the Future of Online Lending Foreclosure 2017-09-25 Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Demand Propels Home Prices Upward 2 days ago 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 Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 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 Share Save About Author: Brianna Gilpin Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

first_imgHome / Daily Dose / The Benefits of Homeownership About Author: Radhika Ojha The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Share 1Save The Best Markets For Residential Property Investors 2 days ago December 11, 2018 2,549 Views in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Benefits of Homeownership Servicers Navigate the Post-Pandemic World 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 agocenter_img 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. Here’s a familiar story. Young American homebuyers want to purchase a home but challenges such as affording a down payment and getting approved for a mortgage because of low credit scores are holding them back.But, a new survey by TD Bank revealed that those in this age-group who went ahead and took the plunge are reaping the benefits of homeownership.The survey conducted by TD Bank targeted 30 year-olds in the U.S. to understand their opinion about renting versus owning a home, with 69 percent of the respondents having an annual household income of less than $75,000 and the balance 31 percent earning more than $75,000 per year.While 48 percent of the respondents surveyed owned a home, 43 percent rented and the survey revealed that those with incomes over $75,000 were more likely to own their home.One of the key reasons, the survey revealed that these young Americans took the plunge was to achieve their dream of homeownership, with 46 percent of the homeowners citing this as a reason. These homeowners also said that they recognized the benefits of owning a home compared to renting and cited savings on rental payments and building equity as some of the key reasons to buy.Twenty-two percent of the homeowners said that they chose to buy over renting because their mortgage payment was the same or cheaper than the rent they would have paid. While 51 percent of males said they bought because they wanted to become a homeowner, the survey found that females tended to be more practical, choosing to buy a home because the costs were similar to those of renting.The survey said that among those who bought a home before they turned 30, 26 percent said they saved the money, 23 percent had help from their family, 20 percent went with a low down payment, and 15 percent bought it with someone else.”In an effort to avoid the housing pitfalls they witnessed their parents weather, many are missing out on an opportunity to build equity and invest in property,” said Rick Bechtel, US Head of Mortgage at TD Bank. “While the financial aspect remains daunting to many prospective young buyers, today’s lenders are working to make homebuying more affordable.”When asked about the attitude of their peers who were still on the fence on purchasing a home, 40 percent of homeowners said they believed that their peers had not made the leap to buy because of the idea that they couldn’t afford a home. Of the renters, who were asked the same question 32 percent said they rented because they couldn’t afford the down payment to buy a home, while 30 percent said they liked the flexibility of renting.  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Previous: A Snag Called Housing Affordability Next: The Far-Reaching Impact of Natural Disasters on Housing Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Buyers Down Payment Homebuyers Homeowners Homes HOUSING mortgage Renters Rick Bechtel TD Bank Buyers Down Payment Homebuyers Homeowners Homes HOUSING mortgage Renters Rick Bechtel TD Bank 2018-12-11 Radhika Ojha Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

first_imgHome / Daily Dose / Fannie Mae Net Worth Rises to $14.6B The Week Ahead: Nearing the Forbearance Exit 2 days ago Fannie Mae Net Worth Rises to $14.6B Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. The Best Markets For Residential Property Investors 2 days ago Previous: Studying Foreclosure Numbers in New York City Next: The ‘Conundrum’ Surrounding the GSEs Subscribe Fannie Mae GSE net worth 2020-02-13 Mike Albanesecenter_img Related Articles Share Save Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News  Print This Post Sign up for DS News Daily February 13, 2020 4,129 Views Fannie Mae recorded a net income of $14.2 billion last year, including $4.4 billion during Q4 2019. The GSE’s net worth rose to $14.6 billion by the end of the year. Based on the current agreement with the U.S. Department of the Treasury and the Federal Housing Finance Agency (FHFA), the company can retain quarterly earnings until its net worth reaches $25 billion. Fannie Mae provided more than $650 billion in liquidity to the mortgage market in 2019, helping finance more than three million purchases, refinances, and rental units. They were the largest issuer of single-family mortgage-related securities in the secondary market during 2019, with an estimated market share of single-family issuances of 37%. Fannie Mae finances 25% of all single-family mortgages in the U.S. The GSE announced it made changes to its single-family credit risk transfer structure last year, increasing the company’s capital relief and reducing risk. “Fannie Mae also began obtaining credit protection on single-family reference pools containing seasoned loans, increasing the percentage of the company’s book covered by credit risk transfer, reducing the company’s capital requirements, and further reducing risk,” the release states. Fannie Mae’s mortgage portfolio fell to $153.6 billion at the end of 2019 from last year’s final number of $179.2 billion. This is due to the decline in the company’s loss mitigation portfolio driven by sales of reperforming loans.Invest gains were $923 million during Q4 2019 compared to $253 million in Q3 2019. Fannie Mae added that investment gains totalled $1.8 billion in 2019—an increase from last year’s final number of $952 million. “The increase in investment gains for the fourth quarter of 2019 and for the year was driven primarily by an increase in gains from sales of single-family held-for-sale loans and available-for-sale securities,” Fannie said. FHFA Director Dr. Mark Calabria told FOX Business late last year that Fannie Mae and Freddie Mac are building the capital necessary to get out of conservatorship, but there is still a little way to go. “I believe that under the statute I am required to fix [Fannie and Freddie],” Calabria said.”Fannie and Freddie are less leveraged than when I started,” Calabria added. “We’re going in the right direction.”According to Calabria, regulators will know what the target capital level for Fannie Mae and Freddie Mac will be sometime next year, noting that he’d feel comfortable with “a whole lot more than they have today. Tagged with: Fannie Mae GSE net worth About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

first_imgHome / Daily Dose / 7.3% of Active Mortgages Now in Forbearance  Print This Post 7.3% of Active Mortgages Now in Forbearance About Author: Seth Welborn May 1, 2020 1,628 Views Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Loss Mitigation, News As of April 30, more than 3.8 million homeowners are now in forbearance plans, representing 7.3% of all active mortgages, according to the latest data from Black Knight. Together, they account for $841 billion in unpaid principal and includes 6.1% of all GSE-backed loans and 10.5% of all FHA/VA loans.This is an increase from Black Knights April 24 data, when more than 3.4 million homeowners, or 6.4% of all mortgages, have entered into COVID-19 mortgage forbearance plans.According to Black Knight CEO Anthony Jabbour, the recent Federal Housing Finance Agency (FHFA) announcement of a four-month limit on advance obligations for servicers of mortgages backed by Fannie Mae and Freddie Mac provides the industry with some much-needed clarity.“Having a four-month end date on the period in which servicers need to advance principal and interest payments on behalf of homeowners in forbearance is extremely helpful to our servicing clients,” said Jabbour. “Still, even knowing that time limit, with today’s number of forbearance plans, servicers are still looking at more than $7 billion dollars in advances over those four months. And the forbearance numbers are climbing steadily, day by day. Clearly, this remains a challenging situation all around.”With dramatic increases in unemployment, delinquencies and defaults can be expected to increase for the foreseeable future, even during forbearance, Black Knight notes.“From the start of the COVID-19 crisis, Black Knight has sought to provide leadership on behalf of our clients, as well as provide them with clarity, actionable intelligence and knowledgeable assistance,” Jabbour added. “Beyond that, no other company has the sort of holistic view of the mortgage market and related industries that Black Knight has. We’ve been able to see – and quantify – what this situation means for our clients, the industry and the wider U.S. economy, and we have been actively sharing and innovating around that insight.” Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Black Knight Forbearancem 2020-05-01 Seth Welborn Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Black Knight Forbearancem Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Former CFPB Director Discusses Bureau’s Response to COVID-19 Next: Court: Borrower Waived Pre-Foreclosure Right to Meeting 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. Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

first_img Pinterest Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR Pinterest Twitter WhatsApp WhatsApp Previous articleGardai warn businesses of rise in change scams in DonegalNext articleEntries open for 2020 Donegal Half Marathon News Highland Google+ Facebook 448 new cases of Covid 19 reported today Twittercenter_img 1,504 people were awaiting beds at LUH in 2020 Help sought in search for missing 27 year old in Letterkenny By News Highland – January 1, 2020 Facebook Figures published by the Irish Nurses and Midwives Organisation figures show over 53 thousand people were awaiting hospital beds over the course of 2020, 1,504 of them at Letterkenny University Hospital.That’s a 280% fall on the hospital’s 2019 figure.2020 saw 1,504 people awaiting in-patient beds at Letterkenny University Hospital over the course of the year. That compares to 5,727 in 2019.The Covid 19 pandemic saw the figures drop substantially after March.January and February saw 392 and 352 respectively, while April’s figure was zero.Figures were in the low double digits over the early summer, but started rising again, with 188 in October, 99 in November and 128 in December.This year’s total was the lowest since 2013’s total of 1,277.Sligo University Hosptial was one of the six highest in the country, with 2,530 waiting this year compared to 4,967 in 2019.The INMO says such overcrowding poses an infection control risk which the union is describing as “unacceptable”. Google+ Homepage BannerNews NPHET ‘positive’ on easing restrictions – Donnelly News, Sport and Obituaries on Wednesday May 26th Nine Til Noon Show – Listen back to Wednesday’s Programmelast_img read more