Month: May 2021

The Barriers to Buying a Home

first_img 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. Demand Propels Home Prices Upward 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  Print This Post Home / Daily Dose / The Barriers to Buying a Home Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Sign up for DS News Daily Tagged with: Affordability Agents Budget Home Homebuyers HOUSING Mortgage Rates Owners.com Finding the right home is proving to be more difficult than it seems, according to a new survey by Owners.com.The survey of 1,800 consumers who recently bought a home revealed that this was one of the reasons why many recent homebuyers were also surpassing their budget. Nearly half (49%) of the respondents said that finding the right home was a challenge for them.As far as generations were concerned, millennials found it least difficult to find the right home, while 52% of Gen-Xers and 56% of baby boomers found it more challenging, the survey found. However, millennials found it more difficult to save for a down payment on the home compared to the older generations. In fact, 21% of millennials said that this was the most difficult aspect of buying a home compared with 15% Gen-Xers and 6% baby boomers.“It’s not surprising that recent homebuyers find it challenging to find the right home: many markets are still seller’s markets, and buyers often need to decide very quickly whether they should outbid the competition,” said Dario Cardile, VP, Growth at Owners.com. “When possible, homebuyers should work with brokerages that can capture their preferences effectively, and help them find their best match homes quickly. The key is providing buyers with the right information, a customized approach and the guidance of smart agents so they can find their dream home at the right price.”When it came to budgets, the survey revealed that more than one-third (38%) of respondents surpassed their budget, compared to 32% surveyed in 2018. These recent homebuyers exceeded their budget by $20,000 on average, a significant increase from 2018’s $16,510.However, it found that millennials tended to be more frugal in their spending than the older generations. In fact, 39% of the Gen-Xers surveyed went over budget by $35,000, while 27% of baby boomers went over budget by $25,000. Comparatively, while more millennials went over budget, they spent significantly lesser than last year.While 46% of millennials went over budget, by $12,000 on average, the amount was lesser than the $24,545 recorded for 40% millennials in 2018.Looking at the 2019 homebuying season, the survey found that affordability was the biggest barrier for homebuyers. When asked what they foresee as the biggest issues facing homebuyers this year, 41% of respondents stated affordability followed by rising interest rates (25%), buyer competition (12%), finding the right home (11%), and housing supply (10%). 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 May 27, 2019 2,373 Views The Barriers to Buying a Home About Author: Radhika Ojha Affordability Agents Budget Home Homebuyers HOUSING Mortgage Rates Owners.com 2019-05-27 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Ask the Economist: Moody’s Analytics’ Andres Carbacho-Burgos Next: Exercising Caution in Property Preservationlast_img read more

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The Long-Term Impact of the Uniform Mortgage-Backed Security

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fannie Mae Freddie Mac mortgage UMBS 2019-08-05 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News About Author: Seth Welborn 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 The Long-Term Impact of the Uniform Mortgage-Backed Security Demand Propels Home Prices Upward 2 days ago Earlier this year, Fannie Mae and Freddie Mac along with the Federal Housing Finance Agency (FHFA) issued the first uniform mortgage-backed security (UMBS), a new security backed by mortgages guaranteed by either Fannie Mae or Freddie Mac. In a post by the Urban Institute’s Karan Kaul and Laurie Goodman, Urban explores how the UMBS will benefit the housing finance system.According to Urban, the single uniform security saves taxpayers money. The Urban Institute notes that MBS investors strongly preferred Fannie’s security, making it more liquid and more valuable than Freddie’s security. When selling securities into the market, lenders received a better price for Fannie’s securities, even when the loans underlying both securities had identical attributes.Additionally, the UMBS reduces inefficiencies, with the securities of either GSE now able to be delivered into a single security, doing away with the compensation for the difference to lenders in sales.The Urban Institute also notes that the UMBS “paves the way” for future housing finance reform, as not only a step forward for a single guarantor, but for multiple guarantors as well.The UMBS requires not only consistency across securitization practices but also substantial alignment with the credit underwriting, servicing, and loss mitigation policies that collectively determine how loans perform and prepay.“By reducing the significant competitive advantage that Fannie enjoyed over Freddie, it also helps open the way to additional competitors over time,” said Kaul and Goodman. “It is still difficult to imagine how a new entrant would overcome the legacy players’ enormous liquidity advantage, but moving to a single security helps ease that barrier.”“In sum, the UMBS requires substantial alignment among business policies and systems regardless of the number of guarantors.”The Urban Institute calls the creation of the UMBS an important step forward in the current system. It not only removes an expensive inefficiency in the current system, but it also lays the groundwork for deeper structural reforms in the years to come.center_img Related Articles Tagged with: Fannie Mae Freddie Mac mortgage UMBS August 5, 2019 1,682 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Long-Term Impact of the Uniform Mortgage-Backed Security Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Previous: Fannie Mae: Increased Education Needed for Borrowers Next: The Booming Built-For-Rent Industry Subscribelast_img read more

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The Single-Security’s G-Fee Impact

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Law Firm Accuses CFPB of Unlawful Funding Next: FHFA To Disburse GSE Allocations to Housing Trust Fund The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save About Author: Seth Welborn Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Fannie Mae FHFA Freddie Mac G-Fee UMBS 2020-02-27 Seth Welborn With the advent of the Single-Security Initiative, the single-family guarantee fee has been eliminated for another quarter, according to former CEO of Freddie Mac Don Layton. In post from the Harvard Joint Center for Housing Studies, Layton notes how the elimination of the “G-Fee” discount was a major reason why the Federal Housing Finance Agency (FHFA) directed the two entities to create a new common securitization platform along with a “single security” where the mortgage securities of the two companies would trade almost as one.In June 2019, Fannie Mae and Freddie Mac launched the marked the completion of their Single Security Initiative with the launch of the Uniform Mortgage-Backed Security (UMBS), “the result of close collaboration with FHFA, Freddie Mac, Common Securitization Solutions, and hundreds of housing finance stakeholders and we congratulate all involved on this achievement,” said Renee Schultz, SVP, Capital Markets, Fannie Mae in a statement.After the single-security’s implementation, the discount almost entirely disappeared. In the second full quarter of the new single security—the fourth quarter of 2019—Layton revealed that not only was there was no discount, but there was also a 0.01% premium.While the 0.01% discount and 0.01% premium in wasn’t meaningful, Layton notes, “the historic discount has shown itself to have been eliminated for another quarter.”According to Layton, the  as Freddie Mac no longer has a reduced g-fee revenue stream, savings are produced for taxpayers, and “the combined liquidity of both GSEs should make the interest rate on the mortgage securities they issue a bit lower for both companies, which directly translates into a lower interest rate to homeowners on their mortgages,” said Layton.“Lastly, and perhaps most importantly from a policy perspective, the combined liquidity of both GSEs should make the interest rate on the mortgage securities they issue a bit lower for both companies, which directly translates into a lower interest rate to homeowners on their mortgages.”“Thus, one of the major reforms done while the GSEs have been in their unexpectedly long conservatorship is looking very much like a success,” Layton adds. The Single-Security’s G-Fee Impact Demand Propels Home Prices Upward 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 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. The Best Markets For Residential Property Investors 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac G-Fee UMBS in Daily Dose, Featured, News, Secondary Market February 27, 2020 1,548 Views Home / Daily Dose / The Single-Security’s G-Fee Impact Sign up for DS News Daily  Print This Post Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

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Economist Predicts Foreclosure Wave Will Crash Down in 2021

first_img Demand Propels Home Prices Upward 2 days ago 2020-11-03 Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News November 3, 2020 23,185 Views Home / Daily Dose / Economist Predicts Foreclosure Wave Will Crash Down in 2021  Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Industry Pulse: Appointments and Promotions Next: Best of DS5: Advancing Tech and Working From Home Economist Predicts Foreclosure Wave Will Crash Down in 2021  Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Subscribe A leading economist is warning that this year’s booming housing market will soon give way to a rising tide of foreclosures that will submerge many homeowners in the coming year. In an opinion piece published on Bloomberg, Michael R. Strain, the John G. Searle Scholar and the director of economic policy studies at the American Enterprise Institute (AEI) observed that while existing homes increased by 9.4% in September to 6.6 million units on an annual basis – the highest level in more than 14 years – and the median existing-home price was 14.8% higher in September versus one year earlier, this demand has been fueled by limited supply and historically low mortgage rates.  “The housing sector is relatively sensitive to interest rates, and mortgage costs — already low before the pandemic began — are at rock bottom, driven to current lows by the Federal Reserve’s rate cuts and asset purchases,” Strain wrote. “As of Oct. 22, the average 30-year fixed-rate mortgage was 2.8%, down from 3.75% a year before. Fifteen-year fixed-rate mortgages have been below 2.75% since the beginning of May.”  The COVID-19 pandemic also complicated the picture. With greater housing, people became eager for more living space. However, the supply of new houses has dwindled – Strain noted AEI Housing Center estimated there was only slightly more than two months’ worth of housing inventory in September.  The problem, Strain forecasted, was a so-called “K-shaped” recovery that will benefit wealthier Americans but leave lower-income households behind. “Weak labor markets are typically a headwind for the housing sector,” he continued. “But job losses have been concentrated among low-wage workers who are less likely to purchase houses. The unemployment rate for college graduates is 4.8%, considerably lower than the overall rate of 7.9%.”  As a result, he continued, a “wave of foreclosures is likely coming that will hit low-income homeowners. As of August, over 10% of the eight million single-family mortgages backed by the Federal Housing Administration were delinquent by more than three months. According to the FHA, the reason for 86% of those delinquencies was ‘a national emergency,’ a category that includes the pandemic. These delinquencies are heavily concentrated among loans associated with low credit scores.” While federal forbearance policies put a temporary freeze on foreclosures—only 352 foreclosures were started in August, compared with 10,438 in February—Strain commented that policy would not remain in place next year. “An important explanation for why there are so few foreclosures amid so many delinquencies can be found in the CARE Act, the economic recovery law passed in March,” he stated. “It included forbearance provisions that allowed borrowers with government-backed mortgages to postpone (or reduce) payments for up to 12 months if they suffered COVID-related financial hardship. When these forbearance provisions expire in 2021, expect a wave of foreclosures to follow.”   Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Phil Hall  Print This Post Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 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 The Best Markets For Residential Property Investors 2 days agolast_img read more

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Doherty says electoral register rules must be updated

first_img RELATED ARTICLESMORE FROM AUTHOR Help sought in search for missing 27 year old in Letterkenny By admin – June 15, 2015 Twitter Facebook Homepage BannerNews Pinterest 448 new cases of Covid 19 reported today NPHET ‘positive’ on easing restrictions – Donnelly Facebook News, Sport and Obituaries on Wednesday May 26th WhatsAppcenter_img Doherty says electoral register rules must be updated Twitter Three factors driving Donegal housing market – Robinson WhatsApp A Donegal Councillor has claimed that the closure of rural Garda stations is leading to people being unable to get on the electoral register.When registering to vote a person must have their forms signed by a member of the Garda at a station.Cllr Albert Doherty says during the recent referendum many people who wanted to vote, couldn’t get on the register because they couldnt get a member of the Gardai to sign their forms.And he says the current system to get the supplement is outdated and needs to be changed……….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/06/albertregister.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Google+ Google+ Previous articleHospital apology was “too little, too late” – Seamus HamiltonNext articleFire Service called after children became trapped at Derry storm drain admin Pinterest Nine Til Noon Show – Listen back to Wednesday’s Programmelast_img read more

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More speed cameras for accident black spots

first_img WhatsApp HSE warns of ‘widespread cancellations’ of appointments next week Facebook WhatsApp Twitter Man arrested in Derry on suspicion of drugs and criminal property offences released Pinterest Watch: The Nine Til Noon Show LIVE PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Google+ Twitter Dail to vote later on extending emergency Covid powers center_img Dail hears questions over design, funding and operation of Mica redress scheme Facebook Previous articleHorse slaughter house operations suspended in Co OffalyNext articleThree charged in Derry terrorism probe News Highland By News Highland – March 14, 2013 More speed cameras for accident black spots Speed cameras are to target hundreds more accident blackspots as part of a country-wide road safety overhaul.Almost half of all road deaths happen at just over 700 sections of the road – most of them local and regional – which have been identified by traffic gardai.Until now, a network of “GoSafe” speed cameras were trained on 518 danger zones but a review of the scheme will see a further 243 blackspots covered.Garda Assistant Commissioner Gerard Phillips said: “We want people to become familiar with them, realise why they are there and to slow down.”Nearly half of all fatal collisions between 2006 and last year occurred on the earmarked 727 sections of road – which make up just 2.5% of the entire road network.The garda website, at www.garda.ie/gosafe.htm, includes a map showing the location of the surveillance zones.As part of a road safety review, 34 sections of road which were previously covered by the mobile cameras have now been removed. RELATED ARTICLESMORE FROM AUTHOR Pinterest News Google+last_img read more

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East Derry MLA hits out at lack of funding for Lough Foyle Ferry

first_img Facebook East Derry MLA hits out at lack of funding for Lough Foyle Ferry Man arrested on suspicion of drugs and criminal property offences in Derry Further drop in people receiving PUP in Donegal Google+ 75 positive cases of Covid confirmed in North News WhatsApp Twitter Facebook RELATED ARTICLESMORE FROM AUTHOR By News Highland – October 18, 2012 center_img Main Evening News, Sport and Obituaries Tuesday May 25th PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Previous articleCSO publishes ethnicity statistics from Census 2011Next articleHundreds expected to turnout at tomorrows Home Help protest in Letterkenny News Highland Google+ Pinterest The Governments north and south are again being urged to agree a funding package which would see the Lough Foyle service linking Greencastle and Magilligan operate all year round.The issue is to be discussed by the Regional Development Committee in the North in the next few weeks after it was raised by East Derry MLA John Dallat.As it stands, the service runs only for part of the year and recieves a small subsidy from Limavady Borough Council and Donegal County Council.John Dallat says the Rathlin Ferry in the North has received over £22m in the past 4 years, and he says only a fraction of that funding would run the Lough Foyle Ferry……[podcast]http://www.highlandradio.com/wp-content/uploads/2012/10/jdall1pm.mp3[/podcast] Twitter Pinterest WhatsApp 365 additional cases of Covid-19 in Republic last_img read more

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Buncrana shop owner praises Garda response to robbery

first_img Previous articleCouncillor wants disused railway lines to be turned into cycle pathsNext articleTaoiseach attacks FF motion on Magdalene Laundries News Highland Pinterest By News Highland – February 12, 2013 Twitter 365 additional cases of Covid-19 in Republic Google+ Twitter WhatsApp Buncrana shop owner praises Garda response to robbery Facebook Facebook Google+center_img Pinterest News Gardai continue to investigate Kilmacrennan fire RELATED ARTICLESMORE FROM AUTHOR Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp The owner of the shop and filling station in Buncrana which was robbed by an armed man last night has praised the garda response.Cathal Cullen, owner of the premises on the Cockhill Road was eating his dinner at 7.30 when the incident occurred.His son and an assistant were looking after the shop and forecourt when a man entered the shop.On today’s Shaun Doherty Show, Cathal Cullen outlined what happened:[podcast]http://www.highlandradio.com/wp-content/uploads/2013/02/cathal1ROB.mp3[/podcast] Man arrested on suspicion of drugs and criminal property offences in Derry 75 positive cases of Covid confirmed in North Further drop in people receiving PUP in Donegal last_img read more

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Taoiseach to ask for money back from banks at EU summit

first_img By News Highland – October 24, 2013 Main Evening News, Sport and Obituaries Tuesday May 25th Twitter News Facebook Google+ Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republic Further drop in people receiving PUP in Donegal Facebook Twitter Google+center_img Pinterest Previous articleNorthwest MEP hopeful Irish fishermen will benefit from aid packageNext articleJustice Minister calls for report on two Roma children News Highland WhatsApp RELATED ARTICLESMORE FROM AUTHOR WhatsApp The Taoiseach will use an EU summit this week to remind leaders of an agreement  last June on breaking the link between sovereign government and bank debt.He is traveling to Brussels for the two-day summit which starts this evening.But ahead of his departure he wrote to his EU counterparts asking them to honour the commitment to set up a European permanent bailout fund.Mario Draghi, the President of the European Central Bank, has meanwhile caused concern with an assurance to European taxpayers in a TV interview that there will be no more bank bailouts.Our Business Editor Ian Guider says the Taoiseach will seek relief for Ireland.”Obviously that’s another call for these European governments tot he European Permanent Bailout Fund, to get the money that we’ve put into the banks back” he said.”You will remember Eamon Gilmore said that that was a game-changer, as did the Taoiseach, but there’s been no movement on that  since last June”.”But he’s going to use this opportunity of this meeting in Brussels over the next couple of days to try and press them for some relief for the Irish banking system” he added. Pinterest 75 positive cases of Covid confirmed in North Taoiseach to ask for money back from banks at EU summit Gardai continue to investigate Kilmacrennan firelast_img read more

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Woman thought she would be raped and murdered during parochial house robbery

first_imgNews Woman thought she would be raped and murdered during parochial house robbery Facebook Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry Main Evening News, Sport and Obituaries Tuesday May 25th Pinterest Previous articleMystery surrounds nightime noise in DerryNext articleRenewed appeal for information on second anniversary of Keiran Doherty murder News Highland Twitter Google+ Gardai continue to investigate Kilmacrennan fire A woman attacked in St Aengus parochial house in Burt feared she was going to be raped and murdered by three armed robbers, according to the local priest.The robbery happened on Ash Wednesday evening after Burt Parish Priest Fr Gerry Sweeney had left at 645pm to celebrate Mass in a nearby church.Three men broke through the priests back door before demanding the whereabouts and the combination of the safe from the woman who was inside.The woman, who is her 50s, had arrived earlier in the day to help tidy up after construction repair work.Fr Sweeney says it was a terrible ordeal for her…[podcast]http://www.highlandradio.com/wp-content/uploads/2012/02/frsw1pm.mp3[/podcast]center_img By News Highland – February 24, 2012 WhatsApp Facebook RELATED ARTICLESMORE FROM AUTHOR WhatsApp Further drop in people receiving PUP in Donegal Google+ 365 additional cases of Covid-19 in Republic 75 positive cases of Covid confirmed in North Twitterlast_img read more

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