Month: May 2021


Fannie Mae Portfolio Declines Again In October


first_imgHome / Daily Dose / Fannie Mae Portfolio Declines Again In October The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Fannie Mae Portfolio Declines Again In October Subscribe December 1, 2014 1,134 Views Fannie Mae’s gross mortgage portfolio declined for the 51st time in the last 52 months in October, according to the mortgage giant’s October 2014 Monthly Summary released recently.The balance of Fannie Mae’s gross mortgage portfolio stood at $436.2 billion at the end of October, representing a compound annualized rate decline of 5 percent from September, according to the summary. With the exception of December 2012, when the portfolio grew in value at a compound annualized rate of 1 percent, the value of the portfolio has declined every month since June 2010. At the end of that month nearly four and a half years ago, the portfolio’s value was almost $818 billion.Year-to-date in 2014, the portfolio has declined at an average annualized rate of 13.2 percent.Fannie Mae’s total book of business components also declined in October after seeing its first increase of 2014 in September, according to the summary. The book of business decreased at a compound annualized rate of 0.9 percent, down to nearly $3.2 trillion. The book of business has declined in 10 out of the last 11 months and has declined at an average compound annualized rate of 1.8 percent year-to-date.Also in October, the serious delinquency rate on Fannie Mae’s conventional single-family mortgage loans declined by four basis points from September down to 1.92 percent, according to the summary. October marked the 35th month in a row the serious delinquency rate declined at least one basis point month-over-month; the last time the rate did not decline was when it held steady at 4.0 percent from October to November 2011. The rate has not increased since January to February 2010, when it jumped from 5.52 percent up to 5.59 percent.The value of Fannie Mae’s mortgage-backed securities and other guarantees totaled nearly $2.8 trillion in October, representing an annualized compound growth rate of 1.0 percent from the previous month, according to the summary.Fannie Mae completed 9,540 loan modifications in October and has completed 106,455 loan modifications year-to-date as of October 31, 2014. About Author: Brian Honea Tagged with: Fannie Mae Mortgage-Backed Securities Serious Delinquency Rate Volume Summary Data Provider Black Knight to Acquire Top of Mind 2 days ago Fannie Mae Mortgage-Backed Securities Serious Delinquency Rate Volume Summary 2014-12-01 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Share Save Demand Propels Home Prices Upward 2 days agocenter_img 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Previous: Sixteen Charged in Nationwide House Flipping Telemarketing Scam Next: DS News Webcast: Tuesday 12/2/2014 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 in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days agolast_img read more


Maxine Waters Sets the Agenda


first_img In her first policy speech as Committee Chairwoman of the House Financial Services Committee, Maxine Waters addressed the government shutdown and the need to bring in a renewed focus on housing affordability issues. “I am very pleased to be here with you today to discuss the new Congress and my priorities as Chairwoman of the House Financial Services Committee,” Waters said.Waters is the first woman as well as the first African-American to lead the House Financial Services Committee. Voicing her concerns about the impact of the shutdown on important programs under the Financial Services Committee’s jurisdiction, she pointed out that it is “harming hardworking Americans and our financial markets.””The shutdown also has a serious impact on critical housing programs. Ninety five percent of the Department of Housing and Urban Development’s (HUD) staff has been furloughed. Millions of families that rely on HUD rental assistance programs are perilously close to losing their homes due to projected lapses in funding,” she added. Commenting on the ways in which the shutdown is harming American families and businesses, Waters called for an immediate end to it, urging the Republicans in Congress to join in the effort. Waters stated that one of the issues that will be looked at with a renewed focus to in the Financial Services Committee is housing. She noted that Congress needs to provide a surge of funding and resources to tackle the homelessness crisis to ensure that all Americans have access to safe, decent and affordable housing. “I will soon be reintroducing my bill, the Ending Homelessness Act, which would help to ensure that every American has a safe, decent, and affordable place to call home. The bill provides $13.27 billion in new funding over five years to federal programs and initiatives to prevent homelessness,” Waters said. Holding Committee hearings on homelessness and important housing issues will also be a part of the plan to elevate housing issues into a national discussion, and present proactive solutions and remedies, she indicated. Speaking of GSEs, Waters reiterated the committee’s responsibility to look at the housing finance system and address the fates of Fannie Mae, and Freddie Mac. She also advocated core principles as part of the legislative efforts to address the future of housing finance reform such as, maintaining access to the 30-year fixed rate mortgage; providing stability and liquidity to withstand future financial crisis; ensuring sufficient private capital to protect taxpayers, and ensuring a smooth transition to a new finance system. She also emphasized the importance of maintaining access for all qualified borrowers that can sustain homeownership, and serving homeowners of the future and, ensuring access to affordable rental housing. “It is particularly important to ensure that underserved borrowers and communities are not overlooked. This means housing finance reform will need to include a comprehensive strategy around access to affordable mortgage credit, as well as access to affordable rental housing. Another very important issue that I am going to continue to work on as Chairwoman is diversity and inclusion. As a nation, we are becoming increasingly diverse, racially and ethnically,” she said. Waters made it clear that her ongoing priority is ensuring a strong Consumer Financial Protection Bureau and, strong financial regulation that protects consumers, investors, and the economy. She announced her agenda while speaking at the Center for American Progress.Read the full report here. Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Maxine Waters Sets the Agenda The Best Markets For Residential Property Investors 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] The Best Markets For Residential Property Investors 2 days ago About Author: Donna Joseph Previous: Homeownership: Through the Eyes of Black America Next: How Will Policy Changes Impact Housing? January 18, 2019 1,909 Views  Print This Post Share Save Servicers Navigate the Post-Pandemic World 2 days ago Maxine Waters Sets the Agenda Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News The Week Ahead: Nearing the Forbearance Exit 2 days ago 2019-01-18 Donna Joseph Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more


Home Price Slowdown: Cause for Concern?


first_img Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Seth Welborn August 19, 2019 6,829 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Tagged with: Economy HOUSING market Prices Home Price Slowdown: Cause for Concern? Servicers Navigate the Post-Pandemic World 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. Share Save May 2019 marked the 14th consecutive month of slowing home-price growth, according to a new report from CoreLogic, as U.S. home prices grew by 3.4% that month. Additionally, home prices in Seattle dropped 1.2% over the past 12 months, being the first of the 20 cities in the S&P CoreLogic Case-Shiller Index to lose value since 2012. In this Video Spotlight, CoreLogic Deputy Chief Economist Ralph McLaughlin discusses why housing market observers should ease their concern.“Despite the cooldown entering its 14th month, observers of the housing market should ease their broader concerns of an imminent housing market correction,” said McLaughlin. “We see the cooldown flattening or even reversing course in the coming months, and expect the housing market to continue coming into balance. In the meantime, buyers are likely claiming some ground from what has been seller’s territory over the past few years. If mortgage rates stay low, wages continue to grow, and inventory picks up, we can expect the U.S. housing market to further stabilize throughout the remainder of the year.”CoreLogic notes that home price growth in the top 10 metropolitan areas increased by 2.2%, down from the previous month’s 2.3% increase. In addition, 13 of the top 20 metropolitan areas reported lower price increases compared to the previous month, compared to in April, when half of the top 20 saw an increase from the previous month.center_img Previous: How Effective Is FHA’s Distressed Asset Stabilization Program? Next: When Will the Next Recession Hit? Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Home Price Slowdown: Cause for Concern? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Economy HOUSING market Prices 2019-08-19 Seth Welborn Demand Propels Home Prices Upward 2 days ago Related Articleslast_img read more


Examining Mortgage Liens and ‘Equitable Subrogation’


first_img Tagged with: Equitable Subrogation Foreclosures March 10, 2021 4,352 Views Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Salvatore Carollo Demand Propels Home Prices Upward 2 days ago  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Equitable Subrogation Foreclosures 2021-03-10 David Wharton Salvatore Carollo has concentrated his practice in the area of creditors’ rights since 2007, primarily representing mortgage lenders and servicers in New Jersey and Pennsylvania. Prior to that, he was a Managing Attorney for the New Jersey office of a national foreclosure law firm, playing a vital role in growing that office while maintaining a large client portfolio. He has developed a broad base of knowledge in all aspects of foreclosure and related practice areas. He has litigated cases through trial and argued at the appellate level in New Jersey. He has also handled bankruptcy matters, loan workouts, REO transactions, title resolutions, and landlord/tenant matters. in Commentary, Daily Dose, Featured, Newscenter_img The New Jersey Appellate Division in New York Mortgage Trust v. Deely, 2021 WL 520063 (App. Div. 2021) has recently published the latest in a series of opinions concerning equitable subrogation. Equitable subrogation, “rooted in principles of equity, is used to compel the ultimate discharge of an obligation by the one who in good conscience ought to pay it,” regardless of whose mortgage was recorded first. Prior decisions on equitable subrogation such as Investor Savings Bank v. Keybank Nat’l Ass’n, 424 N.J. Super. 439 (App. Div. 2012), Sovereign Bank v. Gillis, 432 N.J. Super. 36 (App. Div. 2013, and Ocwen Loan Services, LLC v. Quinn, 450 N.J. Super. 393 (App. Div. 2017) were instrumental to the latest ruling in Deely.The underlying facts in Deely involved a mortgage priority dispute between plaintiff and defendant Bank of America in a residential mortgage foreclosure action. On cross-motions for summary judgment, the Chancery Division applied equitable subrogation to give plaintiff’s mortgage priority, even thought it was recorded after defendant’s mortgage. When applying a de novo review to the grant of summary judgment, the court affirmed the trial court’s decision having recognized that appellate “review of a trial court’s decision to apply an equitable doctrine is limited,” and the panel would not “substitute our judgment for that of the trial judge in the absence of a clear abuse of discretion.”This opinion is a departure from prior case decisions which have held that a new lender is not entitled to subrogation, absent an agreement or formal assignment, if it possesses actual knowledge of the prior encumbrance. See First Union Nat’l Bank v. Nelkin, 354 N.J. Super. 557 (App. Div. 2002). Instead, the Deely panel opted not to follow the “actual knowledge” rule and adopted a principle from the Restatement (Third) of Property: Mortgages, that makes “material prejudice to the intervening lienor” the directing principle.In his opinion, Judge Geiger relied in large part on the Gillis holding and explained that “[e]quitable subrogation is appropriate when loan proceeds from refinancing satisfies the first mortgage, the second mortgage is paid in full as part of the transaction, and the transaction is based on a discharge of the second mortgage, so long as the junior lienor, here defendant, is not materially prejudiced. Under such circumstances, equitable subrogation should not be precluded by the new lender’s actual knowledge of the intervening mortgage. To do otherwise would allow [defendant] to reap an undeserved windfall by allowing the junior lienor to vault over the priority of the refinancing mortgage lender.” Home / Commentary / Examining Mortgage Liens and ‘Equitable Subrogation’ 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 Previous: Industry Reacts: Marcia Fudge Confirmed as HUD Secretary Next: For Housing Assistance to Work, Communication Must Improve Data Provider Black Knight to Acquire Top of Mind 2 days ago Examining Mortgage Liens and ‘Equitable Subrogation’ Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more


50 stranded as Belfast to Derry train fails


first_img 448 new cases of Covid 19 reported today Pinterest Three factors driving Donegal housing market – Robinson Facebook RELATED ARTICLESMORE FROM AUTHOR Google+ NPHET ‘positive’ on easing restrictions – Donnelly News Around 50 commuters were left stranded in the North today after the train broke down en route from Belfast to Derry.They were stuck in carriages for more than two hours when the mechanical failure occurred near Ballymoney.The engine breakdown also caused the onboard heating system to close down, leaving passengers to brave cold temperatures during their wait.They were eventually taken off the train by ladders and transferred to a replacement bus service. Twitter Pinterest Google+center_img WhatsApp Facebook 50 stranded as Belfast to Derry train fails Previous articleGardai ‘satisfied’ Derry dissidents killed Denis DonaldsonNext articleFall in number of Donegal compensation claims News Highland By News Highland – February 10, 2010 Help sought in search for missing 27 year old in Letterkenny Guidelines for reopening of hospitality sector published Calls for maternity restrictions to be lifted at LUH WhatsApp Twitterlast_img read more


Priest in Derry to meet dissident families


first_imgNews Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Pinterest Guidelines for reopening of hospitality sector published Google+ A priest in Derry who challenged dissident republicans over their violence is to meet families who claim they are being harassed by the PSNI.Fr Paddy O’Kane from Ballymagroarty agreed to the meeting after talks with the 32 County Sovereignty Committee.During the talks, he said he criticised those behind the bomb attack on Strand Road police station and recent hoax bomb alerts.However, he said he had a pastoral duty to listen to the families’ concerns.[podcast]http://www.highlandradio.com/wp-content/uploads/2010/09/frpad1pm.mp3[/podcast] Twitter WhatsApp Facebook Three factors driving Donegal housing market – Robinson Twitter By News Highland – September 7, 2010 center_img Calls for maternity restrictions to be lifted at LUH LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleAlarming rise in suicides in DonegalNext article100% rise in number of suicides in Donegal News Highland Google+ RELATED ARTICLESMORE FROM AUTHOR Priest in Derry to meet dissident families Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Pinterestlast_img read more


“Bruton should intervene to save Letterkenny IDA office” – Mc Conalogue


first_imgNewsx Adverts Guidelines for reopening of hospitality sector published WhatsApp RELATED ARTICLESMORE FROM AUTHOR LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleDACC seek meeting with Health Minister and HSE bossNext articleThe Commission of Irish Dancing acts to prevent abuser from teaching News Highland Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Google+ Deputy Charlie Mc Conalogue urging Enterprise Minister Richard Bruton to meet with IDA Ireland with a view to keeping Letterkenny office open. he also wants the appointment of a new Regional Manager for Donegal.Last week, Deputy Mc Conalogue raised the issue in the Dail, after the current Regional Manager in Donegal was promoted to a new national position.He was told by Junior Minister Ciaran Cannon that the IDA is an autonomous body, and the management of offices and resources is an internal matter. MInister Cannon said the IDA has informed the government that it’s Letterkenny office is closing, and Sligo will be the North West regional headquarters.However, Deputy Mc Conalogue says that’s not good enough, and MInister Bruton should intervene as soon as possible…………….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/07/idacmcc.mp3[/podcast] Facebook Calls for maternity restrictions to be lifted at LUH WhatsAppcenter_img Pinterest Google+ Need for issues with Mica redress scheme to be addressed raised in Seanad also Pinterest Twitter By News Highland – July 11, 2011 “Bruton should intervene to save Letterkenny IDA office” – Mc Conalogue Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebooklast_img read more


PARC welcomes progress on ‘L’ driver penalty points campaign


first_img By News Highland – September 19, 2012 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Facebook Twitter Dail hears questions over design, funding and operation of Mica redress scheme Pinterest Pinterest WhatsApp Minister McConalogue says he is working to improve fishing quota Twitter Man arrested in Derry on suspicion of drugs and criminal property offences released Newscenter_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp RELATED ARTICLESMORE FROM AUTHOR Google+ Facebook Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ Previous articleNorthwest MEP vows to fight tractor NCT plansNext articleTaoiseach confirms councils can’t withhold student grants News Highland Donegal Road safety group PARC’s campaign to have penalty points extended to learner drivers for a number of offences has progressed a step.The group want two points put on the license of a learner driver found driving unaccompanied by a fully licensed driver – they also want a two point penalty for those caught not displaying L plates.The government is said to be considering a report on the review of the current system.PARC spokesperson Susan Grey says they now have the support of the Road Safety Authority while the Transport Minister has also said he will look in to their request:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/09/susr530PARC.mp3[/podcast] PARC welcomes progress on ‘L’ driver penalty points campaignlast_img read more


Mark Durkan welcomes intervention in North talks


first_imgNewsx Adverts Pinterest Facebook Google+ WhatsApp WhatsApp Mark Durkan welcomes intervention in North talks Google+ Previous article2009 another busy year for the RNLI in DonegalNext articleSDLP to move motion on jobs for the west News Highland Pinterest Twitter RELATED ARTICLESMORE FROM AUTHORcenter_img PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Twitter Facebook Man arrested in Derry on suspicion of drugs and criminal property offences released Critical talks are being held in Belfast and London today to determine the future of the Northern Assembly.At Stormont, the Deputy First Minister Martin McGuinness will hold an urgent meeting with DUP leader Peter Robinson.While the British Prime Minister and the Taoiseach meet at Downing Street to try and break the deadlock over policing and justice.The Leader of the SDLP Mark Durkan is welcoming the involvment of Gordon Brown and Brian Cowen:[podcast]http://www.highlandradio.com/wp-content/uploads/2010/01/25durk.mp3[/podcast] By News Highland – January 25, 2010 Dail to vote later on extending emergency Covid powers Dail hears questions over design, funding and operation of Mica redress scheme HSE warns of ‘widespread cancellations’ of appointments next week Man arrested on suspicion of drugs and criminal property offences in Derrylast_img read more


Buncrana budget meeting this afternoon


first_img WhatsApp Twitter Facebook Facebook HSE warns of ‘widespread cancellations’ of appointments next week PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Pinterest Pinterest Buncrana Town Council will meet this afternoon to adopt it’s budget for 2013 with a freeze on commercial rates is one of the key features that has been agreed.It will be the fourth year in a row that Council has opted to freeze business rates in the town.The Budget totals just over 3 million euro, with the majority spent on road, transport and safety.The total payroll cost for Buncrana Town Council will be 738,287 euro for 2013, a significant decrease from the 2008 figure, which was 1.2m euro.Cllr Nicolas Crossan says he’s hopeful that the budget will be passed:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/12/nic830.mp3[/podcast] Google+ Twitter Google+center_img Previous articleLetterkenny Town Council passes budget for 2013Next articleRing announces 300,000 euro for GAA Centre of Excellence News Highland Dail hears questions over design, funding and operation of Mica redress scheme News By News Highland – December 21, 2012 Dail to vote later on extending emergency Covid powers WhatsApp Man arrested in Derry on suspicion of drugs and criminal property offences released Man arrested on suspicion of drugs and criminal property offences in Derry RELATED ARTICLESMORE FROM AUTHOR Buncrana budget meeting this afternoonlast_img read more




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