Sunday, 08 December, 2019

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Author: bcoester


On Tuesday, the Senate Committee on Banking, Housing and Urban Affairs will hold a hearing to discuss the nomination of Brian Montgomery as Deputy Secretary of the Department of Housing and Urban Affairs. Under this role, Montgomery, who also serves as HUD’s Assistant Secretary for Housing and Federal Housing Commissioner, would manage the day-to-day operations of the agency and assist Read more…


Dana Dillard, EVP, Corporate Social Responsibility at Mr. Cooper, recently spoke with DS News about the struggles with keeping their customers in the loop. “Most customers don’t understand very much about their mortgage,” Dillard said. “We’re trying to build technology around it, but its complex, so how can we offer automation, how can we be efficient, how can we be Read more…


Fannie Mae and Freddie Mac have jointly announced the appointment of Anthony N. Renzi as CEO of Common Securitization Solutions, LLC (CSS), effective December 2, 2019. Renzi succeeds David Applegate who announced earlier this year that he would be stepping down as CSS CEO by year-end. The appointment is the result of a nationwide search for qualified candidates to lead Read more…


In a hearing before the House of Representatives Financial Services Committee this week, The Honorable Brian Montgomery, Commissioner of the Federal Housing Administration (FHA) gave an update on the FHA in 2019, with a focus on how the Administration is improving its ability to promote access to homeownership, particularly for underserved borrowers. In his statement, Montgomery discussed HUD’s Housing Finance Read more…


The U.S. Department of Housing and Urban Development (HUD) announced the allocation of more than $2.3 billion to support long-term disaster recovery process in 15 states, including Puerto Rico, the U.S. Virgin Island, American Samoa, and the Commonwealth of the North Mariana Islands.  Funds are supported through HUD’s Community Development Block Grant and will address damaged housing, businesses, and infrastructure Read more…


in Daily Dose, Featured, Market Studies, News 4 hours ago 29 Views Scott Brinkley is the CEO of a360inc. Heading into 2020, Brinkley spoke with DS News at the 2019 Five Star Conference and Expo on challenges and trends facing mortgage servicing, technological advancements, and the economy. “Some of the general trends I’m seeing right now is a head toward Read more…


The Federal Housing Finance Agency (FHFA) recently released the latest report on the sale of non-performing loans (NPLs) by Fannie Mae and Freddie Mac.  The Enterprise Non-Performing Loan Sales Report includes information about NPLs sold through June 30, 2019 and reflects borrower outcomes on NPLs sold through December 31, 2018 and reported through June 30, 2019. The sale of NPLs Read more…


Editor’s note: This feature originally appeared in the November issue of DS News. In addition to his role at the Michigan-based firm of Schneiderman & Sherman, PC, Neil Sherman is also the President of Best Homes Title Agency, based in Michigan and licensed in 12 states. Sherman is responsible for the day-to-day oversight of both companies and has over 17 Read more…


Housing is needed no matter the economic conditions, making residential real estate a relatively safe real estate investment trusts (REIT) a safe investment, NuWire Investor notes. Real estate overall is largely safe in a recession compared to other investments. “Real estate is protected from volatility by factors like location, scarcity, and plot size,” NuWire states. “But unlike tangible property, which Read more…


A special team created by the New York City Department of Housing Preservation and Development (NYC HPD) has identified over 3,000 zombie homes in the Big Apple. These are mostly based in areas that are still recovering from the economic distress caused during the Great Recession. According to Leila Bozorg, Deputy Commissioner of HPD, a major part of this team’s Read more…


Freddie Mac states that Generation Z homeowners have a more positive view of homeownership than millennials of the same age.  Prospective Generation Z homebuyers believe they will attain homeownership by the time they turn 30, which is three years younger than the current homebuying age (33).  “The data show that while members of Gen Z clearly aspire to homeownership, they Read more…


Rents are on the rise, according to the October Zillow Real Estate Market Report, falling in only two of the 35 largest metros. However, as Zillow notes, this rate of growth has slowed in each of the past three months, but growth is expected to continue through the end of the year. The two markets where rents dropped were Columbus Read more…


Delinquency rates have been going hand in hand with unemployment, according to the latest CoreLogic MarketPulse Report. In the report, Molly Boesel, Principal, Economist, Office of the Chief Economist at CoreLogic, notes that in August, four of the five states with delinquency rate increases also had increases in unemployment rates. “Job loss can trigger a loan delinquency, especially for families Read more…


Los Angeles holds far more vacant houses than homeless people, LAist reports, but the numbers are murky. According to data from the American Community Survey, there are 93,535 vacant housing units in Los Angeles, compared to 36,165 people on the streets and in shelters, according to the Los Angeles Homeless Services Authority (LAHSA), and  58,936 people homeless in Los Angeles Read more…


Though home purchases at foreclosure auctions and sales of foreclosed or underwater homes used to dominate the Las Vegas home market, making up 73% of resales in the area in 2011, that number is down to just 3.3%, the Las Vegas Review-Journal reports.The Review Journal reports that, according to the Greater Las Vegas Association of Realtors, sales of underwater or Read more…