DS News Webcast: Thursday 2/6/2014

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Pro Teck Valuation Services released its Home Value Forecast for January, ranking last month’s best and worst performing metros according to market conditions. New York’s Nassau County–home to Long Island–turned in the greatest performance, thanks in part to a low number of foreclosure sales, which made up 2% of total transactions.The New York market was joined by several California metros, including Los Angeles, which experienced a 24% increase in home prices over the last rolling quarter. At the other end of the spectrum, a number of Florida markets showed up among last month’s worst performers. Sitting at the bottom of the list was Jacksonville, where foreclosures accounted for more than 80% of January sales. Morgan Stanley is the latest company to make peace with the Federal Housing Finance Agency over alleged misrepresentations of securities sold to Fannie Mae and Freddie Mac. In a filing with the Securities and Exchange Commission, the company revealed it has reached a $1.25 billion agreement in principle with the FHFA to resolve pending litigation. The agency didn’t comment on the settlement, though a public affairs officer confirmed the news. Sign up for DS News Daily Is Rise in Forbearance Volume Cause for Concern? 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: DSNews Related Articles 2014-02-06 DSNews February 6, 2014 558 Views center_img Previous: High-End Home Sales Rise in California Next: Interest Rate Declines Continue into February Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Featured / DS News Webcast: Thursday 2/6/2014 Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago DS News Webcast: Thursday 2/6/2014 The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Featured, Media, Webcasts Subscribelast_img read more

Year In Review: Secondary Market News

first_img December 30, 2014 1,034 Views Sign up for DS News Daily Home / Featured / Year In Review: Secondary Market News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago As the new year rolls in, DS News is taking a look back at some of the biggest secondary market headlines and stories of 2014:1. GSEs Officially Lower Down Payment to 3 Percent for Qualifying First-Time Homebuyers – Following months of talk and speculation, both Fannie Mae and Freddie Mac announced on Monday they will begin allowing qualifying first-time borrowers to purchase homes with just a 3 percent down payment.2. Fannie Mae Announces Risk Transfer Deal to Increase Role of Private Capital in Mortgage Market – Fannie Mae has expanded its risk sharing offerings with the announcement of the credit insurance risk transfer (CIRT) deal, which transfers the credit risk on a pool of loans from the taxpayers to a panel of domestic reinsurers.3. Judge Upholds $1.5 Billion Claim against Wells Fargo – A lawsuit filed by European bank LBBW Luxemburg S.A. over an alleged $1.5 billion subprime mortgage-backed securities (MBS) fraud scheme was upheld by a federal judge, who denied the bank’s motions to dismiss. U.S. District Judge J. Paul Oetken let stand charges of fraud, breach of contract, negligent misrepresentation, and constructive fraud against Wells Fargo Securities LLC and Fortis Securities LLC.4. Lender, Servicer Call Off $39 Billion Mortgage Servicing Rights Deal – Wells Fargo and Ocwen Financial have mutually agreed to cancel the sale of billions of dollars residential mortgage servicing rights after New York’s top financial regulator put the deal on hold, according to multiple reports.5. New York Regulator Accuses Servicer of Sending Backdated Foreclosure Notices – Benjamin Lawsky, superintendent of financial services for New York, said an investigation of Ocwen’s mortgage servicing practices turned up more than 7,000 letters sent to borrowers that had been backdated and sent only after their payment deadlines had passed.n. Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago 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 Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Related Articles  Print This Post 2014-12-30 Brian Honea Demand Propels Home Prices Upward 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Year In Review: Foreclosure News Next: Foreclosures Falling, But Delinquency Rate Climbing Year In Review: Secondary Market News in Featured, News, Secondary Market About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago Share Savelast_img read more

Senate Banking Committee Chairman Calls for More Accountability from Fed

first_img Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Congressional Oversight Federal Reserve Richard Shelby Senate Banking Committee 2015-03-06 Brian Honea Representative Richard Shelby (R-Alabama), Chairman of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, expressed the need for more oversight and accountability from the Federal Reserve during a full committee hearing earlier this week.The topic of Fed oversight and accountability has become a contentious one in recent months. Senator Rand Paul (R-Kentucky) introduced a bill in January known as “Audit the Fed,” which calls for full transparency from the central bank.Earlier this week in the committee hearing on Federal Reserve Accountability and Reform, Shelby explained why he believed the Fed should be made more accountable.”Many of the Fed’s actions since the financial crisis have emphasized the need for greater accountability,” Shelby said. “The Fed has undertaken three rounds of quantitative easing and grown its balance sheet to a staggering $4.5 trillion. Although the Fed has concluded new bond purchases, it has not begun to unwind its balance sheet. It has also kept its target interest rate close to zero percent for more than six years. After these unprecedented actions, how will the Fed measure its impact on the economy?”Shelby went on to say that it is “not clear” when the Fed will explain this and other measures such as what indicators it will use to determine when it should unwind its balance sheet.”The Fed should not only be able to answer these questions, it should be held accountable for its actions,” Shelby said.Democrats have repeatedly resisted any legislation that calls for further scrutiny of the Fed’s activity. In December, Fed Chair Janet Yellen said she would “forcefully” oppose any type of Audit the Fed bill, telling reporters that “I do think central bank independence is very important. . . to make sure we can make the decisions we think are best.”While Democrats have stressed the Fed’s need for independence, Shelby said he doesn’t believe independence makes the central bank exempt from Congressional oversight.”After all, Congress wrote the statute that created the Fed and sets forth its policy objectives,” Shelby said. “The United States Congress created the Federal Reserve System to perform a specific set of functions. While the Fed is an important institution, it is not beyond the reach of Congressional oversight. Therefore, it is entirely appropriate that Congress periodically review the Fed’s structure and authorities.” Related Articles Senate Banking Committee Chairman Calls for More Accountability from Fed March 6, 2015 1,300 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Congressional Oversight Federal Reserve Richard Shelby Senate Banking Committee Sign up for DS News Daily 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. center_img Share Save Home / Daily Dose / Senate Banking Committee Chairman Calls for More Accountability from Fed  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Small CLO Managers May Have Trouble Complying With Risk Retention Rule Next: Foreclosure Starts Reach 12-Month High; Completions Falling Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Ex-Obama Housing Adviser Joins Bipartisan Policy Center

first_img Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Bipartisan Policy Center Housing Policy Michael Stegman The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles 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. Michael StegmanFormer White House housing policy adviser Michael Stegman has joined the Bipartisan Policy Center (BPC) as a fellow for housing policy, according to an announcement from the BPC.In March 2016, Stegman completed a temporary 10-month detail as the National Economic Council’s top housing policy adviser in the White House for the Obama Administration. Prior to his service with the NEC, Stegman worked for four years as the Counselor to the Secretary of the U.S. Department of Treasury for Housing Finance Policy. During his four years with Treasury, he played a key role coordinating Treasury’s activities relating to the development of housing finance policy. Two areas in which his efforts were concentrated where expanding credit access for mortgages and GSE reform.In addition to his positions with the NEC and Treasury, Stegman’s distinguished housing policy career includes serving as Assistant Secretary for Policy Development and Research at HUD and serving as a member of the Welfare Reform Working Group during the Clinton Administration.“The country continues to struggle to meet the housing needs of all Americans,” said BPC Housing Commission Co-chair and former HUD Secretary Henry Cisneros. “I have tremendous respect for Mike Stegman’s expertise, analytical skills, and dedication to the public interest. His position at the Bipartisan Policy Center will allow the nation to continue to benefit from his impressive experience.”“His position at the Bipartisan Policy Center will allow the nation to continue to benefit from his impressive experience.”Henry Cisneros, BPC Housing Commission Co-ChairBefore joining Treasury, Stegman was the MacRae Professor of Public Policy, Planning, and Business at the University of North Carolina at Chapel Hill and the Chairman of the Department at Public Policy and founding director of the Center for Community Capitalism. He is a distinguished professor emeritus with UNC Chapel Hill. The topics on which Stegman has extensively written include housing and urban policy, community development, financial services for the poor, and asset development policies. He has a BA from Brooklyn College, City University of New York, and both a Masters and PhD in city planning from the University of Pennsylvania.“We are excited to have Mike join the BPC as a fellow,” said BPC President Jason Grumet. “BPC’s Housing Commission was instrumental in moving the housing finance reform debate forward as well as shining a light on the need for affordable housing. Mike’s deep experience and knowledge will be crucial to building on the Commission’s work.” The Best Markets For Residential Property Investors 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Ex-Obama Housing Adviser Joins Bipartisan Policy Center Home / Daily Dose / Ex-Obama Housing Adviser Joins Bipartisan Policy Center  Print This Post Previous: CFPB: Servicers are Using Failed Technology Next: DS News Webcast: Thursday 6/23/2016 Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago June 22, 2016 1,579 Views Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Bipartisan Policy Center Housing Policy Michael Stegman 2016-06-22 Brian Honealast_img read more

Affordability Gap Especially Rough for Minorities

first_img in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago African-American buyers Hispanic buyers middle-class buyers 2017-06-01 Brianna Gilpin Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: African-American buyers Hispanic buyers middle-class buyers Affordability Gap Especially Rough for Minorities  Print This Post 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 brianna.gil[email protected] Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Previous: Fannie Mae Gross Mortgage Portfolio Continues Strong Next: Secretary Carson Makes Rounds During Homeownership Month Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Since 2012, homebuyers earning median salaries in the 30 largest metros in the United States have been finding themselves increasingly priced out of their markets. But the affordability gap for middle-class households has been especially rough on Hispanic and African-American buyers, according to a new study by Redfin.Redfin’s report states that in 2016, Hispanic families could afford 18 percent of homes for sale in the 30 largest U.S. metros, while African-American families could afford 14 percent. Both rates were down 11 percentage points from 2012.Meanwhile, while middle-class white families saw a 12 percent affordability drop over the same time period, white households earning median incomes could afford 30 percent of the houses in those same markets last year, Redfin reported.Independent of ethnicity, housing affordability for middle-class families overall dropped 12 percent between 2012 and 2016. According to Redfin, the gulf has been growing as an offshoot of the fact that while national incomes have risen 2 percent since 2012, national housing prices have risen 26 percent. Nearly half the houses for sale in the 30 largest metros were affordable to median earners in 2012; less than a third were affordable to them last year.Affordability issues for Hispanic and African-American buyers has been particularly pronounced in the West, Redfin reported. In fact, these buyers have been all but effectively priced out of the market in Denver, Los Angeles, Portland, San Francisco, San Diego and Phoenix, where fewer than 5 percent of homes for sale were affordable to Hispanic and African-American buyers last year.While Denver had the smallest number of homes available to minority buyers last year (2 percent), the city also was  home to the smallest racial gap in housing affordability‒‒middle-class whites could afford 8.3 percent of homes.On the other side of that coin was Minneapolis, where 66 percent of median-earning whites could afford homes while Hispanic families could afford about 25 percent and African-American families could afford just over 5 percent.Las Vegas had the largest declines in affordability for families making the median African American (-26.5 points) or Hispanic (-24.6 points) household incomes from 2012 to 2016. Meanwhile, metros known for their relative affordability, like Atlanta, Tampa and Kansas City, saw double-digit declines in the share of listings that were affordable on African American and Hispanic median incomes, Redfin reported.St. Louis was the only metro that saw increases in affordability for both Hispanic ( up 5.4 points) and African-American families (up 4.3 points). St. Louis was also the only metro where overall middle-class affordability, including for median-income white households, did not change significantly over this time period.“American cities are at risk of losing both the economic and racial diversity that has been their hallmark,” said Redfin chief economist Nela Richardson. “Middle-class homebuyers are being priced out of America’s largest cities at an alarming rate, as the home affordability gap gets wider. Given the significantly lower rates of homeownership among African-American and Hispanic families, the reduction in affordable listings has even more dire consequences for income inequality when broken out by race.”But, Richardson added, there are solutions.“For one, federal and state governments can do much more to be influential in local housing policy,” she said. “That’s where the crisis starts–at the neighborhood level–when people vote against inclusionary zoning policies, making it difficult or impossible to build higher-density, affordable housing in a community. Federal and state governments can reward communities that change to inclusionary zoning practices by offering them infrastructure investments to improve the neighborhoods. That way, inclusionary zoning is more appealing to longtime residents.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Affordability Gap Especially Rough for Minorities June 1, 2017 1,623 Views Demand Propels Home Prices Upward 2 days ago About Author: Brianna Gilpin Subscribelast_img read more

Rude Awakening: Is Homeownership Still Part of the American Dream?

first_img The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Rude Awakening: Is Homeownership Still Part of the American Dream? July 6, 2017 1,597 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] About Author: Joey Pizzolato in Daily Dose, Featured, Headlines, Market Studies, Newscenter_img 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago American Dream Homeownership Rural Suburban Urban 2017-07-06 Joey Pizzolato  Print This Post Rude Awakening: Is Homeownership Still Part of the American Dream? Previous: a360inc adds C-Suite Talent to Help Deliver Industry-Changing Initiatives Next: The Hope of High Tech Earlier this week we celebrated Independence Day, and with that, we also take the time to think about what made a fight for freedom a reality—the American Dream. And in that reflective moment, it’s easy to declare the American Dream dead. But ValueInsured, in a recent report, wants to “offer a different perspective.”Homeownership has long been considered the cornerstone of the American Dream, and ValueInsured polled over 5,000 Americans in the last two years for its Modern Homebuyer Survey to assess the current state of the American Dream, and what Americans should do to keep it alive.Millennials (70 percent) are in line with the rest of Americans (71 percent) in their desire to keep the American Dream alive. Both demographics also acknowledge—69 percent and 68 percent, respectively—that the American Dream isn’t something that is stagnant; it is every-changing, and must remain fluid in order to survive. And while 76 percent of millennials identify their own personal American Dream as being different from their parents, 65 percent still believe that homeownership defines their version of the American Dream.Location of respondents doesn’t seem to diminish this desire, either. Eighty percent of urban dwellers say owning a home is important to their American Dream, compared to 76 percent of suburbanites and 76 percent of respondents living in a rural area.The survey also found that “the association of homeownership with the American Dream [seems] to transcend socio-economic borders.” Seventy-six percent of Americans with a college education desire to own a home, compared to 74 percent of Americans without an education. Similarly, 84 percent of Americans with a pre-tax income over $100,000 want to own a home as do 71 percent of those with a pre-tax income under $50,000.Even Americans that rent (71 percent) or live rent-free (61 percent) say that they would someday like to own a home of their own. Tagged with: American Dream Homeownership Rural Suburban Urban Related Articles Subscribelast_img read more

Tapping Into Home Equity

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tapping Into Home Equity  Print This Post Home Equity Homeowners mortgage net worth Reverse Mortgage Urban Institute 2017-11-09 Staff Writer Tagged with: Home Equity Homeowners mortgage net worth Reverse Mortgage Urban Institute Servicers Navigate the Post-Pandemic World 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Previous: Less Than 10 Percent of Los Angeles Homes Considered Affordable Next: House & Senate Face Off, Mortgage Interest Deduction on the Line A report released on Thursday by the Urban Institute analyzing the Federal Reserve’s 2016 Survey of Consumer Finances to report what can be known about senior homeowners. The report cites Census Bureau data showing that seniors age 65 and older have a homeownership rate of 78.2 as of Q3 2017—compared to a homeownership rate of 63.7 percent.Though seniors have the financial stability of their homes to fall back on, only half of American workers are reporting that they feel confident about their retirement savings. “Retirees could improve financial security by liquefying home equity to supplement their retirement income or reduce their debt burden,” the report noted.According to Fannie Mae data cited in the report, currently 80 percent of homeowners age 55 and older reported that they are not interested in reverse mortgages, however, the Urban Institute found that home equity is “the largest source of net worth for most homeowners.”However, home equity across races is not equal. White homeowners ages 65 and older have a median net worth of $384,100 and a median home equity of $152,000, as of 2016. Black homeowners of the same age group have a median net worth of $109,360 and a median home equity of $70,000 and Hispanics respectively sit at $133,700 and $100,000.In terms of median home equity, median net worth and median income, the numbers for black households are 46, 28 and 64 percent of the respective totals for white households.In addition, white nonhousing wealth—including cash savings, stocks, bonds, annuities, etc.—took up a greater portion of the net worth than it did respectively for the net worth of black and Hispanic households.The Urban Institute also found that the net worth of a household and the proportion of that net worth taken up by home equity are inversely related. For households with lower incomes, the home itself is the greatest source of financial security.With a greater proportion of their wealth tied up in housing, black and Hispanic homeowners are much more likely to need to tap into their home equity through mechanisms such as Federal Housing Administration (FHA)-insured Home Equity Conversion Mortgages (HECMs). The Best Markets For Residential Property Investors 2 days agocenter_img in Daily Dose, Featured, Market Studies, News November 9, 2017 1,284 Views Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Tapping Into Home Equity The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more

District Judge Sides With President Trump on CFPB Director

first_img CFPB cfpb acting director Consumer Financial Protection Bureau leandra english Mick Mulvaney Richard Cordray 2018-01-11 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago District Judge Sides With President Trump on CFPB Director Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago A federal judge appointed by President Trump has delivered the administration a legal victory with a decision supporting the President’s choice for head of the Consumer Financial Protection Bureau.U.S. District Judge Timothy J. Kelly refused Wednesday to block President Trump’s appointment of White House Budget Director Mick Mulvaney to head the CFPB. That request had been made by Leandra English, who was appointed acting head of the Bureau by former CFPB Director Richard Cordray after he announced his retirement in November 2017. English had previously served as Cordray’s chief of staff.When President Trump then appointed outspoken CFPB critic Mulvaney to head the organization, the stage was set for turmoil and controversy in the months to come. With both Mulvaney and English arguing that they were the legitimate Acting Director of the Bureau, English filed a lawsuit seeking a temporary restraining order. At the time even the CFPB’s own general counsel said the law was on the President’s side, but it was clear that a protracted legal battle lay ahead.Judge Kelly said that English had failed to meet the “exacting standard” necessary for him to issue a preliminary injunction, adding that he saw nothing the CFPB’s designation as an independent bureau that would dictate who could serve as acting director. In his written opinion, Judge Kelly said, “The president has designated Mulvaney the CFPB’s acting director, the CFPB has recognized him as the acting director, and it is operating with him as the acting director. Granting English an injunction would not bring about more clarity; it would only serve to muddy the waters.”English’s argument hinges upon the notion that the CFPB was intended to be an independent agency, and cites the 2010 Dodd-Frank Act, which created the agency. President Trump’s case cites the 1998 Federal Vacancies Reform Act to support the administration’s position.In his written opinion, Judge Kelly said, “The best reading of the two statutes is that Dodd-Frank requires that the deputy director ‘shall’ serve as acting director, but that under the FVRA the president ‘may’ override that default rule.”Department of Justice spokeswoman Lauren Ehrsam told Law360, “We are pleased the court vindicated the President’s authority to appoint Mick Mulvaney as Acting Director of CFPB, finding that Ms. English had not shown a substantial likelihood of success on the merits, and is unlikely to suffer irreparable harm.”Deepak Gupta of Gupta Wessler PLLC, an attorney who is representing English, said on Twitter Wednesday night that, “The law is clear: President Trump may not circumvent the Senate confirmation process by installing his White House budget director to run the CFPB part time. Mr. Mulvaney’s appointment undermines the bureau’s independence and threatens its mission to protect American consumers.” Sign up for DS News Daily Share Save  Print This Post The Best Markets For Residential Property Investors 2 days ago Subscribe About Author: David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / District Judge Sides With President Trump on CFPB Director Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Government, Journal, News Previous: Disaster Playbook Next: The Industry Pulse Tagged with: CFPB cfpb acting director Consumer Financial Protection Bureau leandra english Mick Mulvaney Richard Cordray January 11, 2018 1,855 Views Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Facilitating Growth in a Changing Industry Landscape

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Certifications Five Star Institute FSA industry Lenders mortgage real estate Servicing 2018-03-15 Radhika Ojha Home / Daily Dose / Facilitating Growth in a Changing Industry Landscape Facilitating Growth in a Changing Industry Landscape Continuous learning is a necessity for professionals in the servicing and mortgage industry. With this in mind, the Five Star Academy (FSA), a Five Star Institute brand, recently launched a learning platform with independent certification programs and courses written by experts from the housing and mortgage industry.“The objective of the Five Star Academy is to provide relevant, timely, and actionable education tailored for professionals of all levels servicing the mortgage industry. We expect these certifications to not only contribute to the careers of those who complete the coursework, but to the overall progress of the industry as a whole,” said Ed Delgado, President, and CEO of the Five Star Institute in a statement released recently.Covering a wide range of topics from regulatory compliance and legal practice to diversity and inclusion, and distressed asset disposition, these courses cover a wide range of topics in an easy-to-use online format.“FSA provides the latest instruction, presented by subject matter experts, in a manner that allows you to become certified while you simultaneously continue with your profession and with your personal life—it’s a no-brainer,” said Michelle Gilbert, Managing Partner, Gilbert Garcia Group.According to Clint Welser, VP, Laudan Properties, these courses are an excellent reference point for real estate and lending professionals who want to learn more about legal and regulatory topics.“As the real estate, banking, and servicing industries become increasingly more complex, it’s great to have the resources that the Five Star Academy provides at the ready. Certifications such as these, help set professionals apart from their peers about an ever-evolving industry,” Welser said.Each program contains eight courses, with each certification equivalent to 20 credit hours of relevant material. Currently, FSA offers three ways in which an individual can pursue a certification. They include independent coursework where professionals can pick and choose the courses most applicable to their business and then revisit or pursue other coursework as needed; obtaining a certification when they complete all courses within a program; and completing all certification courses to obtain a Master Certification from FSA.“These courses enable you to learn from top industry professionals about many things that you may need to be sharper on. Often, agents learn the most from other agents. Five Star Academy is a place where the entire industry can learn from each other and make that happen for all of us,” said Jim Hastings, Broker/Owner, Hastings Brokerage.To enroll or learn more about the courses offered by FSA, click here. Share Save Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Subscribe Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Tagged with: Certifications Five Star Institute FSA industry Lenders mortgage real estate Servicing March 15, 2018 1,963 Views in Daily Dose, Featured, Foreclosure, News Previous: HUD’s Carson: “We Simply Need to Do Better.” Next: Builder Confidence on Firm Foundations The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 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 Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

New Hampshire One Step Closer to Judicial Foreclosure Law

first_img The Best Markets For Residential Property Investors 2 days ago New Hampshire One Step Closer to Judicial Foreclosure Law in Daily Dose, Featured, Foreclosure, News Servicers Navigate the Post-Pandemic World 2 days ago About Author: Stephanie Bacot Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Previous: Obduskey v. McCarthy & Holthus: Addressing the Industry Impact Next: The Three Cities Where Delinquencies Rose Tagged with: Foreclosure HB 270 Law New Hampshire Subscribe Stephanie Bacot is an experienced multimedia writer having created content for print, web, television, and more. She is the past producer of BIZTV, a national television network for businesses and entrepreneurs that reached more than 200,000 professionals. She has more than 15 years’ experience in healthcare marketing and was an advertising exec for Healthcare Journal of Baton Rouge, a trade publication focused on the healthcare industry, as well as the marketing director for a $5 million surgery center. Bacot is a graduate of Louisiana State University with a degree in Marketing and Communications. She resides in Dallas when she’s not pursuing her love of travel. Demand Propels Home Prices Upward 2 days ago Foreclosure HB 270 Law New Hampshire 2019-02-21 Staff Writer February 21, 2019 3,771 Views center_img Related Articles The process of foreclosure varies from state to state, but in general, there are two different procedures in place, judicial foreclosure or nonjudicial foreclosure, both resulting in a foreclosure sale. New Hampshire is one of the few states that still allow non-judicial foreclosures but that could change soon if HB 270 bill is passed into law.The bill requires that mortgage foreclosures be commenced by civil actions brought in superior court and also modifies the period of redemption for a mortgage. The House of Representatives in the state recently passed the bill after several cycles of reconsideration. The bill will now be voted on in the state Senate before it is made into a law. If the law comes to pass, it is designed to keep homeowners from being blindsided by foreclosure and avoid title discrepancies. Rep. David Woodbury, D-New Boston told the New Hampshire Business Review that the bill “changes that burden of proof from the homeowner to the bank.”According to representatives who voted for the bill, during the last recession, things got messy with homes being sold off to a variety of real estate trusts without sufficient documentation that the entity filing the foreclosure actually owned the home. Others disagreed, arguing there was no testimony that foreclosures in this state are done improperly. Both sides of the argument have concerns. If the bill is passed into law, “all future mortgages will cost more money. If you delay foreclosures, it increases costs and that costs gets passed on,” Rep. John Hunt, R-Rindge told the New Hampshire Business Review.If it becomes law New Hampshire will leave behind these remaining states that are predominantly nonjudicial foreclosure: Alabama, Alaska, Arizona, Arkansas, California, Colorado, Georgia, Idaho, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, North Carolina, Tennessee, Texas, Utah, Virginia, Washington, West Virginia, and Wyoming. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / New Hampshire One Step Closer to Judicial Foreclosure Law Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Share Savelast_img read more