Court Finds No Pro-Bank Bias From Judge in Foreclosure Case

first_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe in Daily Dose, Featured, Foreclosure, News The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Kashkari Responds to JPMorgan Chase CEO Next: The Uber Effect 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 Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Foreclosure 2017-04-10 Seth Welborncenter_img About Author: Seth Welborn Tagged with: Foreclosure Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago April 10, 2017 1,534 Views In March, a homeowner sued Bank of America and several other mortgage companies for allegedly attempting to illegally foreclose on his property, and went on to claim that the assigned California federal judge has shown a pro-bank bias, citing that the jurist has tossed 56 out of 57 foreclosure-related cases to come before him since 2008, Law360 reports.However, in a recent ruling, U.S. District Judge John F. Walter stated that the defendant, Gary Kooba, failed to show that any of Judge Philip S. Gutierrez rulings were flawed.“There is absolutely no evidence to suggest that Judge Gutierrez does not give careful consideration to each case before him and that he makes decisions based on the facts and law applicable to each case,” Judge Walter said in his ruling.Judge Walter stated that Kooba did not supply the necessary evidence to back up his claim of bias. For example, Kooba acclaimed that Westlaw maintained a complete record of Judge Gutierrez’s rulings, but there was no evidence of Westlaw maintaining such records, according to Judge Walter. This meant that the disqualification bid was based on potentially faulty figures. The ruling, “completely misses the point that such a track record creates the ‘appearance’ of bias,” said Andrew R. Stilwell to Law360, one of the attorney’s representing Kooba.Stilwell said that in the majority of the 56 rulings, Judge Gutierrez found that the Fair Debt Collection Practices Act does not apply to a foreclosure claim, and on March 31, several days after the disqualification bid was filed, a Ninth Circuit decision refuted every dismissal order by Judge Gutierrez from those instances.In addition, Stillwell stated that the court failed to show any published opinion by Judge Gutierrez that was not available through Westlaw, as the system is relied upon by the “majority of the industry.” “To claim that Westlaw is incomplete, means that the entire legal system is working with incomplete information,” Stilwell said. Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Court Finds No Pro-Bank Bias From Judge in Foreclosure Case Related Articles Court Finds No Pro-Bank Bias From Judge in Foreclosure Case Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Mortgage Free Baby Boomers?

first_img Demand Propels Home Prices Upward 2 days ago In their latest article in the Housing Insights Series, Fannie Mae delved into which generation was most likely to carry household debt, which is a concern for the financial security of the retired homeowner.Once a widespread rite of passage, the report says, paying off a mortgage for homeowners approaching retirement has become less frequent. Studies have shown that the rise in household debt among older homeowners, but hasn’t zeroed in on Baby Boomers and how their mortgage status has changed as they get closer to the age of retirement.The oldest Boomers, who are already past retirement age, are substantially less likely to own their homes outright than their generational predecessor.“Among Baby Boomer owner-occupants aged 65 to 69 in 2015, fewer than 50 percent were mortgage-free, down 10 percentage points compared with the pre-Boomer group of homeowners who were the same age in 2000, prior to the housing bubble.”Younger Boomers, however, are more likely to have free-and-clear homeownership than homeowners of the same age in 2000. Of Boomers aged 50 to 54 in 2015, 26 percent owned their homes outright compared with 22 percent of homeowners who were the same age at the turn of the millennium.According to Fannie Mae, several economic and housing factors could have contributed to the acceleration of paid off mortgages after the housing crisis among Boomers.“Some Boomers might have adopted a more conservative stance toward housing debt in the wake of the financial crisis and, simultaneously, tighter credit markets likely constrained the ability to borrow against the home,” the report said.Additionally, the recovery in housing prices and gains in equity that followed the housing bust allowed boomers to move and downsize to lower-value homes without using mortgage financing.“Even with recently accelerated gains in free-and-clear homeownership, the oldest Baby Boomers have reached retirement age with a greater likelihood of carrying a mortgage, and younger Boomer cohorts are also expected to achieve relatively low rates of outright homeownership at retirement unless they accelerate even further the pace of extinguishing housing debt.”To read the full report, click here. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Mortgage Free Baby Boomers? Share Save Sign up for DS News Daily About Author: Brianna Gilpin  Print This Post Home / Daily Dose / Mortgage Free Baby Boomers? in Daily Dose, Featured, Headlines, News, Secondary Market Tagged with: Baby Boomers Servicers Navigate the Post-Pandemic World 2 days ago Baby Boomers 2017-10-05 Brianna Gilpin Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Crowdfunding for a Mortgage Next: Next Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 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] Related Articles October 5, 2017 1,626 Views Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

The Default Rates for GSE Loans

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, News About Author: Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / The Default Rates for GSE Loans Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: default Delinquency Fannie Mae Foreclosures Freddie Mac loans Urban Institute default Delinquency Fannie Mae Foreclosures Freddie Mac loans Urban Institute 2018-12-03 Radhika Ojha  Print This Post Related Articles Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Vendorly Expands Offerings with Contract Management Tool Next: RMBS in 2019 December 3, 2018 5,565 Views The Best Markets For Residential Property Investors 2 days ago The Default Rates for GSE Loans Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Default rates for the government-sponsored enterprises (GSEs) are much lower than they were a few years ago, according to an analysis of vintage loan level GSE credit data by the Urban Institute.The data was analyzed as part of the Institute’s Monthly Chartbook for November. Looking at Fannie Mae and Freddie Mac’s 1999-2003 vintages, the analysis revealed that cumulative defaults totaled around 2 percent while those for loans from 2007 were at around 13-14 percent. However, they began to fall starting with the post-2009 vintage of loans, which are on pace to fall below the pre-2003 levels.The analysis revealed, for Fannie loans 88 months after origination, the cumulative default rate from 2009-10 and 2011-Q3 2017 were about 0.96 and 0.37 percent, respectively, compared to the cumulative default rate from 1999-2003 of 1.35 percent. For Freddie loans 85 months after origination, the cumulative default rates totaled 0.94 percent from 2009-10 and 0.22 percent from 2011-Q3 2017, compared to the rate from 1999-2003 of 1.24 percent.The analysis also looked at the status of the loan after it had experienced a credit event (defined as a delinquency of 180 days or more, a deed-in-lieu, short sale, foreclosure sale, or REO sale) and found that for Fannie Mae loans 14.7 percent were current, 16.1 percent were prepaid, 10.2 percent were still in the pipeline, and57.8 percent were already liquidated. Freddie Mac loans also showed similar results.The Monthly Chartbook also looked at the latest data on FHA-insured loans and their refinance activity to reveal that despite a sound performance, the FHA’s recently released Mutual Mortgage Insurance Fund (MMI Fund) report indicated a rise in cash-out refinance activity in 2018. According to the report, the number of cash-out refinance mortgages endorsed by the FHA increased from 141,885 in FY 2017 to in 150,883 in FY 2018, a 6.3 percent rise. As a share of total endorsement count, cash-out was nearly 15 percent, compared to 11.4 percent last year.The Urban Institute analysis pointed out a couple of reasons for the rise in this activity. First was the rising mortgage rates that have significantly curtailed rate refinances loans, which in turn were boosting the share of cash-outs.Second, according to the analysis was the 85 percent maximum loan-to-value (LTV) ratio for FHA cash-out refinances vs. 80 percent for conventional cash-outs. “In other words, borrowers can extract more equity through an FHA cash-out than a conventional one. Also, FHA cash-out refinances can be more cost-effective than conventional cash-outs for some borrowers because of a lower base FHA mortgage rate and FHA’s non-risk-based pricing,” the analysis said.To read the full report, click here. The Week Ahead: Nearing the Forbearance Exit 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. Sign up for DS News Daily last_img read more

Strong Affordability Bodes Well for 2019

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Strong Affordability Bodes Well for 2019 Home / Daily Dose / Strong Affordability Bodes Well for 2019 The Best Markets For Residential Property Investors 2 days ago Tagged with: Affordability Housing Market 2019 Interest rates Mortgage Interest Rates Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Black Knight’s September Mortgage Monitor Report revealed that it now requires 20.7% of the national median income to make monthly principal and interest payment on an average-priced home—the second lowest payment-to-income ratio in 20 months. The report says the average 30-year interest rate at 3.64% has been a key factor, and that home affordability hit a 32-month high in September. According to the report, the $1,122 in monthly P&I required to purchase an average-priced home is 10% lower than in November when interest rates closed in on 5%. Home prices, however, have risen more than 4% since that point. Affordability was at a nine-year low in November when the payment-to-income ratio increased to 23.7%, causing an extended slowdown in home price growth. Falling rates over the past few months have boosted buying power by 16% ($46,000), while not impacting the P&I payments. Black Knight found that annual home price growth was flat in August—coming in at 3.8%—after rising for the first time in 17 months in July. June’s annual home price growth rate of 3.7% was the smallest in almost seven years before trending upward. “It remains to be seen if this is merely a lull in what could be a reheating housing market, or a sign that low interest rates and stronger affordability may not be enough to muster another meaningful rise in home price growth across the U.S,” said Black Knight Data & Analytics President Ben Graboske. “That the strongest gains in—and strongest levels of—affordability were in August and early September could bode well for September/October housing numbers. As such, we’ll be keeping a close eye on the numbers coming out of the Black Knight Home Price Index over the coming months.”California now has seven of the 10 least affordable markets in the nation, while rates or near historical lows. Purchasing the average-priced home in Los Angeles requires nearly 43% of the median household income, which is more than twice the national average. Black Knight says this, though, is a sizeable decline from the nearly 71% required in 2006. Following Los Angeles was three other California markets: San Jose, San Francisco, and San Diego. Black Knight’s report found Dayton, Ohio, to be the most affordable market, as it requires just 12.6% of annual household income to afford a median-priced home. Fellow Ohio markets Akron and Youngstown were also considered among the most affordable markets.  Servicers Navigate the Post-Pandemic World 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. in Daily Dose, Featured, News Previous: Blend Launches One-Tap Pre-Approval Next: Fannie Mae Examines Homebuyer Sentiment About Author: Mike Albanese Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Share Save October 7, 2019 807 Views Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Affordability Housing Market 2019 Interest rates Mortgage Interest Rates 2019-10-07 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Individual Investors Dominate Rental Market

first_img 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.  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Of the 48.2 million rental housing units, nearly 49% are located in rental properties of one to four units, according to the latest Rental Housing Finance Survey (RHFS) data released by the U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau. For these small rental properties, nearly 73% (14.1 million) are owned by individual investors and more than one-third (7.9 million) have a mortgage or similar debt”Since 2012, the Rental Housing Finance Survey has been America’s premier source of data on rental housing finance and financial health,” said Seth Appleton, HUD’s Assistant Secretary for Policy Development and Research. “The new 2018 Rental Housing Finance Survey data will help the administration better understand the potential impacts of COVID-19 on the financial health of America’s rental property owners.”The Rental Housing Finance Survey is funded by HUD and data is collected every three years by the Census Bureau. RHFS is the most comprehensive survey of rental housing properties in the United States, covering topics such as property configuration, ownership and management, rental income and expenses, financing, and capital improvements and expenses. The new release includes summary tables for areas across the nation.About 86% of all rental properties contain only one rental unit and 97% of all rental properties have only one building. About 36% of all rental units are in properties with one rental unit, while about 30% of rental units are in properties with 150 or more rental units.About 72% of rental properties, representing 41% of all rental units, are owned by individual investors and 16% of rental properties with 37% of units are owned by limited liability corporations or partnerships. For properties with 150 or more units, 63 percent are owned by limited liability corporations or partnerships.About 22% of small rental properties (1-4 units) are managed professionally while 94% of properties with 150 or more units are managed professionally. Share 1Save June 5, 2020 1,244 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Individual Investors Dominate Rental Market Tagged with: Investment Rental SIngle-family Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Home / Daily Dose / Individual Investors Dominate Rental Marketcenter_img About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Investment Rental SIngle-family 2020-06-05 Seth Welborn Demand Propels Home Prices Upward 2 days ago Previous: Housing, Economy Turning Corner Amidst COVID-19 Next: Servicers Prep for Hurricane Season 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 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, Market Studies, News Subscribelast_img read more

Winter School to discuss the future of the euro

first_img The 24th Colmcille Winter School gets under way at the Colmcille Herritage Centre in Gartan tonight, with this years theme the survival of the euro.The school will also discuss the potential for the UK to withdraw from the EU, and what affect that would have on the Irish economy.The school will be opened this evening by Junior Minister Dinny Mc Ginley.The event is run by the Colmcille Heritage Trust – It’s secretary is Martin Egan………….[podcast]http://www.highlandradio.com/wp-content/uploads/2013/02/egan1pm.mp3[/podcast] Calls for maternity restrictions to be lifted at LUH Previous articleDissidents claim PSNI attacked Lumen Christi white line protestNext articleEurozone facing up to another year of recession News Highland Twitter News Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published Winter School to discuss the future of the euro Help sought in search for missing 27 year old in Letterkenny Facebook WhatsApp Google+center_img Pinterest By News Highland – February 22, 2013 RELATED ARTICLESMORE FROM AUTHOR WhatsApp 448 new cases of Covid 19 reported today Facebook Twitter Google+ NPHET ‘positive’ on easing restrictions – Donnelly Pinterestlast_img read more

Murder inquiry launched into Churchill death – Gardai appeal for information

first_img Twitter Three factors driving Donegal housing market – Robinson WhatsApp Murder inquiry launched into Churchill death – Gardai appeal for information Facebook Pinterest By News Highland – June 20, 2012 WhatsApp Calls for maternity restrictions to be lifted at LUH Pinterest News Previous articlePearse Doherty says he’ll pay back money if he broke Oireachtas rulesNext articleBuncrana to be a pilot area for school patronage changes News Highland center_img Help sought in search for missing 27 year old in Letterkenny Twitter Facebook Google+ Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly Google+ RELATED ARTICLESMORE FROM AUTHOR Gardai in Donegal have launched a murder inquiry following the death of a 67 year old man at Churchill on Sunday night.Emergency services and Gardai were called to a house at Drumacnoo, Churchill at around 1.50 am where the body of Seamus Doherty was discovered.He was pronounced dead at the scene.  A post mortem revealed he died in suspicious circumstances.An incident room has been set up at Lettekenny Garda StationThe scene has been preserved pending a full forensic and technical examination.Superintendent Eugene McGovern has been outlining the details of the case:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/06/eugenemurderinvestigation.mp3[/podcast] LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamiltonlast_img read more

Reilly says there are no plans to scale down maternity services in the NW

first_img Facebook Calls for maternity restrictions to be lifted at LUH Pinterest The Health Minister says he has no intention of downgrading maternity services in West and Northwest insisting instead that he wishes to see them further developed and improvedHe was speaking during a Fianna Fáil motion in the Seanad calling for the protection of obstetrician-led maternity services at regional hospitals.It follows claims that a HSE internal report proposes to dismantle obstetrician-led maternity services in the West and North West region.But Minsiter James Reilly slammed Fianna Fail for scaremongering:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/05/REILLYOBS.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.The motion is in the name of Senator Marc Mc Sharry was co-signed by Senator Brian O’Domhnaill.He rejected claims of scaremongering and called on the Minister to give a firm commitment to increase staffing in Maternity Units:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/05/BRIANOBS.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. News By News Highland – May 29, 2014 Previous articlePat the Cope loses out as Marian Harkin takes final EU seatNext articleSoldier to be sentenced for biting man’s nose during unprovoked attack News Highland Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this week Guidelines for reopening of hospitality sector published Twitter RELATED ARTICLESMORE FROM AUTHORcenter_img WhatsApp Need for issues with Mica redress scheme to be addressed raised in Seanad also LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebook Twitter Google+ WhatsApp Pinterest Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Reilly says there are no plans to scale down maternity services in the NWlast_img read more

Cllr McBride calls for reduction of speed limit on Letterkenny road

first_img Facebook Twitter By News Highland – September 20, 2012 Google+ Twitter RELATED ARTICLESMORE FROM AUTHOR News WhatsApp There are renewed calls for a reduction in the speed limit on the stretch of road in Letterkenny between the Dry Arch and Polestar roundabouts.The current limit is 100 kmph but Councillor Noel McBride is calling for it to be reduced to just 60 kmph.There are concerns that reducing the speed to such a level on the four lane stretch of road would make motorists easy targets for speeding fines.But Councillor McBride says safety is paramount:[podcast]http://www.highlandradio.com/wp-content/uploads/2012/09/noel830.mp3[/podcast] Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleHome help workers holding demostration outside HSE offices in SligoNext articleDeputy MacLochlainn calls on Government to listen to concerns of rural Ireland News Highland Google+center_img Facebook Pinterest Pinterest Minister McConalogue says he is working to improve fishing quota WhatsApp 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Cllr McBride calls for reduction of speed limit on Letterkenny road Need for issues with Mica redress scheme to be addressed raised in Seanad also Dail hears questions over design, funding and operation of Mica redress scheme Man arrested in Derry on suspicion of drugs and criminal property offences releasedlast_img read more

Search launched for missing man in Ramelton

first_img Facebook Search launched for missing man in Ramelton Previous articlePrison Service Director apologies to family and colleagues of dead gardaNext articleMan jailed for disorderly behaviour at Altnagelvin Hospital News Highland Facebook Twitter RELATED ARTICLESMORE FROM AUTHOR Man arrested in Derry on suspicion of drugs and criminal property offences released Pinterest Google+ PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Man arrested on suspicion of drugs and criminal property offences in Derry Dail to vote later on extending emergency Covid powers center_img Twitter A search has been launched in Ramelton for a man missing from his home since yesterday.The man, who is believed to be in his 80s, was last seen around 8pm last night.Search and rescue teams have been searching the River Lennon since early this morning.Members of the Lough Swilly Lifeboat and Mulroy Coastguard have been combing the area. WhatsApp Newsx Adverts By News Highland – March 29, 2012 Dail hears questions over design, funding and operation of Mica redress scheme Pinterest HSE warns of ‘widespread cancellations’ of appointments next week WhatsApp Google+last_img read more