Thursday, 23 January, 2020

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Tag: DS News


Southern states including Mississippi, Louisiana, Alabama, and Arkansas held some of the largest volumes of non-current loans in the country. As of December 2019, Mississippi holds the highest volume at 9.99%, though this is a month-over-month decline from November’s 10.44%, and a 0.93% decline year-over-year, according to Black Knight’s First Look at December 2019 data. All top five states in Read more…


Editor’s note: This feature originally appeared in the January issue of DS News On September 13, 2019, two changes went into effect in New York State that impact the ability of Limited Liability Companies to buy and sell residential real property. New York State amended Tax Law Section 1409(a) and added subsection (h) to Section 11-205 of New York City’s Read more…


Editor’s note: This feature originally appeared in the January issue of DS News From increased fraud risk to the ongoing low-volume foreclosure environment, those working in financial services and default servicing law faced a multitude of challenges in 2019. Here at the dawn of a new decade, DS News spoke to an array of subject-matter experts representing the firms and Read more…


Many foreclosures during the recession occurred in minority or disadvantaged neighborhoods, the Joint Center for Housing Studies of Harvard University (JSHS) notes, but in a paper recently published in City and Community, Jackelyn Hwang, Assistant Professor of Sociology at Stanford, takes a closer look at how foreclosure purchases shift at the neighborhood level, with a focus on Boston. In her Read more…


Editor’s note: This feature originally appeared in the January issue of DS News An order for discharge in bankruptcy acts as an injunction against any act to collect, recover, or offset a discharged debt. This includes the commencement or continuation of a lawsuit for same. The United States Code sections 524 and 105 authorize a court to impose civil contempt Read more…


In January 2019, Microsoft announced an investment of $500 million in affordable housing in the Seattle area. This month, the tech giant followed up the announcement with a $250 million increase to their affordable housing initiative in the form of a line of credit to the Washington State Finance Commission. According to Microsoft, this line of credit will enable the Read more…


LERETA, LLC, a provider of real estate tax and flood services for mortgage servicers nationwide, has tapped Michael Whiting as SVP of tax operations in its Dallas office. Whiting is responsible for continuing to enhance the technical innovation and client engagement of LERETA’s tax, oil and gas and trust business. “Michael has the industry experience and leadership background that will Read more…


Rentec Direct has partnered with The Closing Docs, an automated income verification company, to expedite and enhance the tenant screening process for landlords and property managers. By incorporating this solution from The Closing Docs, Rentec Direct users can now easily order automated income verification reports during the tenant screening process. “As a landlord myself, I understand the importance of carefully Read more…


U.S. Department of Housing and Urban Development (HUD) Secretary Dr. Benjamin Carson has announced the release of an $8.2 billion in aid to Puerto Rico to assist with disaster recovery efforts. “Now that proper financial controls are in place, implementing the second phase of Puerto Rico’s disaster recovery program can move forward with an extension to its line of credit,” Read more…


Housing may be key to keeping the U.S. economy safe from slowing investment practices, according to Bloomberg utilizing data from the Atlanta Fed. According to Bloomberg, the stronger U.S. housing market could provide a cushion from the effect of a “derailment” in corporate spending. Economic growth, though slow, has been propped up largely by housing, according to the Fannie Mae Read more…


Effective January 1 the LOGS Network affiliated law firms of Shapiro, Van Ess & Sherman (Arizona); Shapiro, Van Ess, Sherman & Marth (California); and Shapiro & Sutherland (Oregon and Washington) merged and became part of an expanded Janeway Law Firm footprint. The Janeway-LOGS partnership now consists of Janeway Law Firm, P.C., a certified woman-owned law firm serving Colorado since 2004 Read more…


This feature originally appeared in the January issue of DS News, out now. In October 2019, default service attorneys throughout the Eleventh Circuit breathed a collective sigh of relief when the Hon. Jerry C. Oldshue, presiding over the Southern District of Alabama, issued an opinion in In re Russell, No. 19-11514-JCO (Bankr. S.D. Ala 2019) that upheld the long-standing “gavel Read more…


Wells Fargo and JPMorgan Chase have each released their Q4 2019 quarterly results, detailing how the bank’s performed toward the end of the year, and how Wells Fargo’s new CEO has made changes to the company. Wells Fargo posted a revenue of $19.9 billion, down from $21.0 billion in Q4 2018. In a release, Wells Fargo CEO and President Charlie Read more…


Editor’s note: This feature originally appeared in the January issue of DS News, out now. On August 28, 2019, the Eleventh Circuit Court of Appeals held that a post-discharge mortgage statement sent to a Chapter 13 debtor-mortgagor did not violate the discharge injunction and further found that sanctions were not appropriate. [In re Roth, 935 F.3d 1270 (11th Cir. 2019)] Read more…


Any real estate expert or professional knows the importance of understanding their local market. As the nation struggles with what are calling an affordability crisis, some say that like real estate in general, the solutions are local.  In essence, they say the overall mindset needs to change from NIMBY (not in my backyard) to YIMBY (yes in my backyard).  “As Read more…