Activists Urge FHFA to End Conservatorships of Fannie Mae and Freddie Mac

first_img 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. The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Conservatorships Fannie Mae FHFA Freddie Mac Leadership Conference on Civil and Human Rights National Council of La Raza 2015-11-20 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Activists Urge FHFA to End Conservatorships of Fannie Mae and Freddie Mac November 20, 2015 1,530 Views About Author: Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News, Secondary Market A fair and affordable housing market is something that has been on the minds of many in the industry, but is the conservatorship between Fannie Mae and Freddie Mac weighing down homeownership?Members of the Leadership Conference on Civil and Human Rights and the National Council of La Raza wrote a letter recently to Federal Housing Finance Agency (FHFA) Director Melvin L. Watt. The letter questions the role that Fannie Mae and Freddie Mac will play in the housing market in the future in terms of promoting fair and affordable housing.The Leadership Conference and the National Council came to the consensus that “bringing the conservatorship to an end so that Fannie and Freddie may step up their role in promoting homeownership” will need to happen to push fair and affordable housing.The two organizations noted in the letter that homeownership is key to moving more Americans into the middle class, but much concern remains despite economical improvements since the 2008 financial crisis.Minority communities are not likely to experience financial benefits of homeownership benefits, as a 30.4 percent gap remains between black and white homeownership has only widened over the last ten years.”We must do all that we can to enact policies that will help reverse these disturbing trends,” the organizations wrote in the letter. “FHFA can lead on this, do it responsibly, and do it without putting taxpayers at risk.”The Leadership Conference on Civil and Human Rights and the National Council presented two factors in the letter that will help meet this goal: “First, particularly given the demise of GSE “overhaul” legislation on Capitol Hill, it is clear that any successful policy to promote affordable homeownership must involve strong leadership into the future by Fannie Mae and Freddie Mac. These entities will be vitally important to the continued growth of our nation’s housing market, and to the ability of consumers to continue obtaining affordable, 30-year, fixed-rate mortgages. The proposed bills in the 113th Congress to eliminate the GSEs would have been counterproductive, negatively impacting communities of color and young people, and impeding our ability to grow our nation’s middle class.””Second, the GSEs require capital if they are to serve their historic mission. As your agency proceeds with its decisions on affordable housing policies, those policies naturally must be balanced with FHFA’s statutory obligation as conservator to the safety and soundness of these enterprises. We applaud FHFA for its announcement last month on the expansion of lending to middle class borrowers, but we note that this expansion will require capital. We also note that some of the current proposals to raise g-fees and to impose new requirements on private mortgage insurers will increase the costs of borrowing, and would still fall short of building the capital needed to grow a robust and healthy housing market. This is especially true given the GSE’s status in what Rep. Maxine Waters (D-California) describes as seemingly “permanent conservatorship,” where they are unable to rebuild capital.”The organizations stated that the homeownership must be increased in the communities they represent, but in order for this to happen the conservatorship must end so the GSEs can rebuild their capital.”Both agencies have become profitable, and could remain so while still giving the taxpayers a large return on the government’s investment,” the letter stated. “We are not suggesting this be done without significant reforms to ensure that all markets are being served fairly, and without important taxpayer safeguards””We look forward to working with FHFA to formulate a plan that increases homeownership for more Americans while further reducing the liability of another catastrophic event on the backs of taxpayers. Exploring an end to the conservatorship and allowing the enterprises to build capital should be an important component of this effort,” the letter concluded.Click here to read the full letter.center_img The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Activists Urge FHFA to End Conservatorships of Fannie Mae and Freddie Mac Related Articles Previous: Why Are Agency Purchase Loans Becoming Even Riskier? Next: Mortgage Balances Surge, Fueling Rise in Household Debt  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Conservatorships Fannie Mae FHFA Freddie Mac Leadership Conference on Civil and Human Rights National Council of La Raza Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Industry Law Firms Looking to Diversify For the Benefit of Servicers

first_img Neil Sherman, Partner and Managing Attorney for Schneiderman & Sherman, P.C., spoke with DS News at the 2016 Five Star Conference and Expo to discuss strategies default servicing attorneys can use to become better partners for their clients and customers.Sherman joined Schneiderman & Sherman, P.C. in 2002 focusing his practice in the areas real estate law, and specifically bankruptcy, foreclosure, and eviction processes. In 2006, Sherman became Managing Attorney and currently oversees all aspects of the firm’s operations including, but not limited to, the firm’s foreclosure, bankruptcy, eviction, REO, title, and litigation departments. Additionally, Sherman is also the Chairperson for the Legal League 100 Advisory Council. Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. Share Save About Author: Kendall Baer October 6, 2016 1,212 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Schneiderman & Sherman PC 2016-10-06 Kendall Baer Related Articles 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Eleventh Circuit Court Stops “Abuse of the Bankruptcy Process” Next: Altisource Residential Takes a Stride Toward Total SFR REIT Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img  Print This Post in Daily Dose, Featured, Media, Webcasts The Best Markets For Residential Property Investors 2 days ago Tagged with: Schneiderman & Sherman PC The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Industry Law Firms Looking to Diversify For the Benefit of Servicers Home / Daily Dose / Industry Law Firms Looking to Diversify For the Benefit of Servicers 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 Subscribelast_img read more

Exploring Tax Reform’s Impact on Housing Assistance

first_img Exploring Tax Reform’s Impact on Housing Assistance HOUSING mortgage Tax Reform 2018-01-04 Nicole Casperson Demand Propels Home Prices Upward 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Industry Pulse Next: On the Radar: Legal Experts on the Cases Shaping the Industry About Author: Nicole Casperson Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Tagged with: HOUSING mortgage Tax Reform in Daily Dose, Featured, Government, Market Studies, News Home / Daily Dose / Exploring Tax Reform’s Impact on Housing Assistance Data Provider Black Knight to Acquire Top of Mind 2 days ago A recently released report by the Urban Institute addresses what they believe are issues with Federal housing assistance programs under new proposals and the recently enacted Tax Cuts and Jobs Act—reporting only one in five renter households who qualify for housing assistance actually receive any.According to the research, the Tax Cuts and Jobs Act and the administration’s proposed fiscal year 2018 budget are expected to hinder access to housing assistance, which is a safety net for low-income households.  With millions of American households facing some type of housing instability, the report reveals that in 2015, 8.3 million renter households with low incomes lacked housing assistance and paid over 50 percent of their income for housing costs or lived in “severely inadequate” housing. In addition, 7 million people in low-income households were doubled up with family and friends—with another 1.5 million people experiencing homelessness.However, according to a recent report by Zillow, doubled up living can work in one’s favor. As rents have outpaced incomes, sharing a home with roommates or with adult parents can give working adults the option to afford to live in more desirable neighborhoods without shouldering the full cost alone. In fact, the share of adults living with roommates is higher than ever before—at 30 percent. Despite the concerns about new policies on housing assistance, DS News previously reported the Fed’s anticipation for economic boosts from the tax bill. According to the report, Fed officials expect the recent tax cuts passed by Congress and signed into law by President Trump to boost both consumer and business spending, citing the tax changes as one reason the Committee boosted their forecast for 2018 GDP growth from 2.1 percent to 2.5 percent.“Most participants indicated that prospective changes in federal tax policy were a factor that led them to boost their projections of real GDP growth over the next couple of years,” the Fed explained.The Fed also noted, “broad equity price indexes rose over the intermeeting period, likely reflecting in part investors’ perceptions of increased odds for the passage of federal tax legislation and an associated potential boost to corporate earnings.”Additionally, leaders in the housing industry have previously addressed why they believe the new tax code will benefit Americans.Chairman of the National Association of Home Builders (NAHB) Granger MacDonald previously expressed his support of the legislation and why it is good for housing. “This comprehensive overhaul of the nation’s tax code will help middle-class families, maintain the nation’s commitment to affordable housing and ensure that small businesses are treated fairly relative to large corporations,” MacDonald said. “Lower tax rates and a fair tax code will spur economic growth and increase competitiveness, and that is good for housing.”David H. Stevens, President and CEO of the MBA, also stated his optimism for the inclusion of important real estate provisions in the conference report for HR 1.”Specifically, we are grateful for the amendment to Section 13221 of the original Senate-passed bill offered by Senator Mike Rounds, to create an exception for any item of gross income in connection to a mortgage servicing contract.” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago January 4, 2018 1,716 Views Sign up for DS News Daily Nicole Casperson is the Associate Editor of DS News and MReport. She graduated from Texas Tech University where she received her M.A. in Mass Communications and her B.A. in Journalism. Casperson previously worked as a graduate teaching instructor at Texas Tech’s College of Media and Communications. Her thesis will be published by the International Communication Association this fall. To contact Casperson, e-mail: [email protected] Subscribelast_img read more

First-Time Homebuyers Could Face Increased Default Risks in 2018

first_img Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 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 About Author: David Wharton The American Enterprise Institute’s (AEI) International Center on Housing Risk has released a new installment of its National Housing Market Index (NHMI), examining the state of the market in the second half of 2017 and where it’s likely to go in 2018. Chief among the findings: the national home purchase market continued its boom in Q3 2017, with sales transactions up 6.2 percent year-over-year. This was the twelfth consecutive quarter showing an increase in sales transactions, and that’s in spite of a nationwide increase in house prices.The NHMI report states that “looser lending, lower mortgage rates, and a decline in international buyers has tilted the home purchase market over the last three years from cash sales towards institutional financed sales. Other financed sales have remained stable as a share of the overall market.”For 2018, the NHMI forecasts single-family home supplies to continue tightening after hitting record lows in November 2017. The report cites the National Association of Realtors, which announced in December 2017 that remaining inventory of existing homes for sale hit a record low of 3.4 months in November 2017, eclipsing the prior record of 3.5 months reached in both January 2005 and January 2017. The NHMI report reads, “Expect new lows to be recorded for December 2017 and January 2018. January is projected to come in at around 3 months.”The NHMI forecasts home prices to continue accelerating, and predicts year-over-year increases of 6.25 percent – 6.75 percent, up from 6 percent – 6.5 percent in 2017. “The substantial reduction in the utilization of the mortgage interest deduction and commensurate reduction in subsidies, will somewhat reduce upward pressure on home prices,” states the report. “Without the tax act, the prediction for 2018 home price increase would have been even higher: 6.75 percent – 7.25 percent.”The AEI index also predicts that the barrier for entry for first-time buyers will be even higher in 2018. Year-over-year gains for the bottom third of homes are forecast to come in at 10.5 percent – 11 percent for 2018. “The Agency First-Time Buyer Mortgage Share Index in September set a new series high, coming in at 57.6 percent, up from 56.9 percent a year ago and from 55.1 percent four years ago,” reads the report. “We expect this index to increase modestly in 2018.”At current levels of wage growth, the AEI NHMI sees the boom in entry-level home prices as ultimately unsustainable. First-time homebuyers will be forced to take on even more leverage to try and keep up with steadily increasing home prices. According to the report, “The AEI First-Time Buyer National Mortgage Risk Index is expected to rise to 17.1 percent for September 2018 agency originations, up from to 16.4 percent for September 2017. Risk scores above 12 percent have a high risk of default under severe economic stress.” All of this means first-time homebuyers will be at greater risk of default as they take on more than they can financially handle in order to acquire a home.On the GSE front, September 2017 saw a significant year-over-year increase in Freddie Mac’s share of the GSE purchase business, jumping to 45 percent compared to 37 percent a year earlier. AEI’s report states that “GSEs have been rebuilding market share that they lost to FHA after its mortgage insurance premium cut in January 2015. In 2017:Q3, the GSEs accounted for 49% of all mortgage lending, their highest Q3 level since 2013.”AEI’s index also notes that the majority of refi lending is now cash-out refis, which accounted for 56 percent of all refis during the current quarter. “No-Cash Out refi volume has declined sharply with the increase in mortgage rates in 2016,” says the report, then adding, “We expect 2018 cash-out share and volume to increase.”According to AEI, “The National Housing Market Index (NHMI) combines AEI Center on Housing Markets and Finance data on the federal agency market with data provided by First American via DataTree.com for the private side of the market and for cash and non-institutionalized lender sales. The combined data set covers nearly 100 percent of the national volume. To account for the small amount of incomplete data, housing data are scaled to estimate total market volume.”You can read the full AEI NHMI report by clicking here. Tagged with: AEI AEI International Center on Housing RIsk American Enterprise Institute National Housing Market Index NHMI Previous: Cold Weather Means Rental Market Bargains for Investors Next: Are Servicing Reforms on the Horizon? Share Save The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / First-Time Homebuyers Could Face Increased Default Risks in 2018  Print This Post in Daily Dose, Featured, Journal, Market Studies, News First-Time Homebuyers Could Face Increased Default Risks in 2018 Demand Propels Home Prices Upward 2 days ago AEI AEI International Center on Housing RIsk American Enterprise Institute National Housing Market Index NHMI 2018-01-10 David Wharton Sign up for DS News Daily January 10, 2018 1,639 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

The Top 25 Women of Law, Part 2

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago black book 2018 Print Features top 25 women in law top 25 women of law 2018-01-15 David Wharton Tagged with: black book 2018 Print Features top 25 women in law top 25 women of law Share Save Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Editor’s note: This story was originally featured in the January issue of DS News, out now.In the January issue of DS News, we were proud to introduce our section on 25 women lawyers who have made their marks in the legal industry. From breaking through the glass ceiling to fighting for the rights of their clients, these formidable women have ensured the success of their individual firms and the industry through their skills and can-do attitudes. They are mentors and role models for a younger generation that admires them, learns from their fights, and is influenced by their positive approach towards creating a work-life balance.In this second installment, we profile get to know more about what inspired these women to become lawyers, their views on the current state of the industry, what it’s like to be a woman in law, and what qualifies these women as being among some of the finest minds in the legal and financial services industries.ELIZABETH CRUIKSHANKOwner/Managing Partner, Cruikshank Ersin, LLCElizabeth Cruikshank has been practicing law for 15 years and loves meeting people, learning new things, and solving problems—especially problem title searches. But even today, being a female attorney poses its own set of challenges. “Not too long ago, I had an agent come into my office for a real estate closing. I came out and introduced myself with my full name. His exact response was, ‘You must be the wife or daughter of Cruikshank.’ Of course, I was very taken back,” shared Cruikshank, who had to work twice as hard to be recognized and make a place for herself in the ‘good ol’ boys club’ of the South. Cruikshank feels the new tax reforms are likely to increase work in bankruptcies, foreclosures, and other default work in the year ahead. “I believe with the new administration, we will see a change in homeownership. Also, the tax changes coming may greatly impact low- to middle-income families,” Cruikshank shared. Cruikshank always wanted to be an attorney and talking about the future, she and her Business Partner Abby Ersin now have their sights set on expanding their practice to newer territories. “We have increased our foreclosure and eviction practice 200 percent in the last year and plan to expand to the Carolinas in the near future,” Cruikshank said. The firm has already expanded beyond Georgia to include Mississippi, Florida, and Tennessee.KIM DRAKE-LOYGeneral Counsel and Chief Compliance Officer, Mortgage Contracting ServicesIn her 18-plus years as a lawyer, Kim DrakeLoy has used her legal expertise to develop new products and services and successfully negotiate difficult contracts. But the one thing that gives her immense satisfaction is providing legal and compliance counsel for mergers and acquisitions. “These are often transformative for the companies involved as they present new opportunities for revenue growth and professional advancement,” said Drake-Loy. In the year ahead, Drake feels that the legal profession must work to identify risks and coordinate with operation teams to help servicers and lenders eliminate or at least reduce the impact of such risks. “The actions legal professionals take to address risk are just as important to the success of the enterprise as the actions that the operation teams take to provide services to their clients,” she shared. Looking at the challenges of 2018, Drake-Loy believes that the year will be defined by federal and state regulations and how businesses allocate resources to monitor them. A person who lists transparent communication high on her list of priorities, Drake-Loy is prepared to help her company face a challenging legal landscape. “I’m always prepared to deliver the good and bad news, and discuss the direct and indirect impact such news has on the company. This practice has made navigating the constant challenges in an ever-evolving legal landscape easier,” Drake-Loy said.JESSICA FAGENManaging Partner, Brock & Scott, PLLCJessica Fagen has her eye on the future of the default servicing industry. That, coupled with her business and law degrees, has enabled her to analyze trends and anticipate the challenges of this business. But what Fagen finds most rewarding is supporting her team so that they can tap into their true potential. “My emphasis on teamwork has helped me to successfully manage our entire default practice in Florida,” Fagen said. And that is also one of the reasons that Fagen lists her ascension to Managing Partner of Brock & Scott as a career moment that she’s particularly proud of. “The work, product, and profitability that I bring to the firm speaks for itself and has provided the platform for my growth and leadership within the company,” Fagen shared. She believes there’s still room for growth for women in leadership roles despite the industry and society continuing to demonstrate improvement in this area, and is happy to mentor other female advocates in this field. Crediting her success to her work ethic in the face of adversity, Fagen feels that operations and legal functions are equally important for the success of a firm. “I contribute on both the operations and legal sides to ensure the firm stays on top of legal issues, while maintaining continuity in personnel and resources amidst this ever-changing environment,” Fagen said.JEANETTE F. FRANKENBERGManaging Member, Stern, Lavinthal & Frankenberg, LLCFull Service Default, Commercial and Real Estate Transactions, Commercial and Residential Leasing, Bankruptcy, Commercial and Consumer Finance, Evictions, REO, Environmental Law, Land Use and Development, Commercial LitigationJeanette F. Frankenberg, a veteran in the default and REO arena, is the Managing Member of Stern, Lavinthal & Frankenberg, LLC, the only solely woman-owned full service default law firm in New Jersey. She attributes her success to her strong work ethics, integrity, tenacity, and humble beginnings. To help clients stay current with emerging legal trends, the attorneys at Stern, Lavinthal & Frankenberg, LLC, share hot topics and “cases to watch” via a monthly update. “We continually invest in IT programming enhancements to create processing efficiencies, quality control checkpoints, and robust data security updates. These enhancements result in a superior product with a cost savings for our clients,” said Frankenberg. While Frankenberg noted that the practice of law has grown to embrace women, she believes the glass ceiling still exists. “The current servicer trend toward bigger multistate firms is a setback for most women owned firms as the industry consolidation process favors older firms that tend not to be women-owned. I have joined organizations such as the American Mortgage Diversity Council and the National Association of Minority & Women Owned Law Firms to be part of the dialogue and hopefully, create change,” stated Frankenberg.MICHELLE GARCIA GILBERTManaging Partner, Gilbert Garcia Group, P.A. and Sapphire Title & Escrow CompanyDefault Servicing, Real Estate Litigation and Transactions, Business Law, Estate Planning, Probate, Guardianship and Trusts, General Civil Law, Construction LawMichelle Garcia Gilbert planned on becoming a newspaper reporter and graduated with a degree in journalism to fulfill this dream. But destiny had other plans for her and an attorney she worked with while in college influenced Garcia Gilbert to apply to law school as a way of combining her ability to communicate with civic duty. It has been 31 years since Garcia Gilbert began practicing law and though she never wrote for a newspaper, she has combined her formidable skills with civic duty to help her clients win in the legal battlefield. “Though I never became a reporter, I have written for industry publications. As an attorney, I have helped others to solve their legal problems, and as a business owner and Managing Partner, I have assisted my employees to live up to their potential,” said Garcia Gilbert who, over the years, has also mentored and influenced other women to balance their personal and professional lives. For Garcia Gilbert, the challenges of the current legal landscape present entrepreneurial opportunities, which in turn allows her firm to contribute to the community. “We believe in to whom much is given, much is expected! For example, we sponsor local high school students who work at the firm in exchange for tuition assistance,” Garcia Gilbert shared.RYAN E. HERTZELPartner, Schiller, Knapp, Lefkowitz & Hertzel, LLPRyan E. Hertzel started working at Schiller, Knapp, Lefkowitz & Hertzel, LLP straight out of law school and has since been named a Partner. She is an integral part of Schiller, Knapp, Lefkowitz & Hertzel, LLP and has watched her firm grow exponentially over the last decade. Her ability to see things from a different perspective and guide her clients and firm has resulted in favorable outcomes for both and has played a big part in the firm’s growth over the years. “My goal as a leader within the firm is to foster an innovative team that is proactive instead of reactive,” said Hertzel. “The default servicing industry is a rapidly and continuously changing niche of law; it can be challenging and exciting at the same time. I believe the best approach to such an industry is to merge tradition and conventional wisdom with ingenuity and technology,” said Hertzel. On a daily basis, Hertzel is inspired by the team mentality and positive firm philosophy that she has helped create. “Our team culture—combined with our passion to consistently exceed client expectations—is what sets us apart. It anchors us in today’s challenging legal landscape and will sustain us in the future,” shared Hertzel.You can read the rest of the “Women in Law” feature in the January 2018 issue of DS News magazine, available by clicking here or on the image below. Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Print Features The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Top 25 Women of Law, Part 2 The Week Ahead: Nearing the Forbearance Exit 2 days ago January 15, 2018 2,464 Views The Top 25 Women of Law, Part 2 Previous: American Mortgage Diversity Council Welcomes New Members Next: Homebuyers Seek Innovation From Mortgage Lenders Servicers Navigate the Post-Pandemic World 2 days ago About Author: David Wharton Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

Will Coastal Homes Go Underwater by 2100?

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Climate Central climate change emission Sea levels Skylar Olsen Zillow 2018-11-15 Donna Joseph Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Need of the Hour: Uniformity in Servicing Data Next: Legal Experts Address Non-Judicial Foreclosures Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Climate Central climate change emission Sea levels Skylar Olsen Zillow in Daily Dose, Featured, Market Studies, News, Servicing Demand Propels Home Prices Upward 2 days ago Will Coastal Homes Go Underwater by 2100? Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Demand Propels Home Prices Upward 2 days agocenter_img Home / Daily Dose / Will Coastal Homes Go Underwater by 2100? Climate change is beginning to manifest itself strongly in many areas in more than half of the nation’s coastal states. Yet a nationwide analysis by Zillow and Climate Central has found that a significant number of homes in these areas have recently been built in at-risk zones at a higher rate than in safer areas.The analysis points out that recent constructions of thousands of new homes built in at-risk areas stare at the possibility of chronic floods within just a few decades. As sea levels rise, nearly 400,000 current homes are expected to be at risk of regular flooding, the main cause being climate change. The ramifications can be abated by 10 percent with moderate emission cuts which will reduce the number of current homes in at-risk areas to 348,000 by 2050. Unchecked greenhouse gas emissions and continued building in flood-risk areas contribute largely to the already existing dangers. Based on Zillow’s housing data and Climate Central’s climate-science expertise, the analysis did not take into account the number of new homes—and homes overall—in low-lying coastal areas. The final outcome in the coming decades, however, will heavily depend on the choices the world makes around greenhouse-gas pollution today, the analysts warned. Assuming that climate change will worsen over time, the estimates of the analysis for the year 2100 are far higher: 1.3 million current homes are anticipated to be at risk of regular flooding if emissions are cut moderately, and 2.5 million homes—worth $1.3 trillion—if emissions grow unchecked.About 10 percent of homes in Galveston, Texas, and 7 percent in Ocean City, Maryland, are projected to be at risk of at least annual flooding by 2050, which may be reduced to nearly half, given, global emissions are in check. If emission cuts are not prioritized, Hoboken, New Jersey, and Miami Beach, Florida, could see three-quarters or more of their homes at risk of at least annual flooding. The intermittent floods experienced by coastal areas every year as of now are expected to reach further inland in the future. This will lead to more damage, devaluation of homes, degradation of infrastructure, and interruptions in transportation systems. Moreover, homeowners, renters, and investors may incur major personal and financial losses.“This research suggests that the impact of climate change on the lives and pocketbooks of homeowners is closer than you think. For homebuyers over the next few years, the impact of climate change will be felt within the span of their 30-year mortgage,” said Skylar Olsen, Director of Economic Research and Outreach at Zillow. The levels of the rising waters vary locally with coastal communities likely to encounter the effects, depending on the local rate of rise, local tides, and storms. Some major coastal cities—including Los Angeles—sit high enough above sea level that the biggest hit—even as far out as 2100—will be to their beaches, the analysts found. In New Jersey, 7 percent of current homes are projected to be in flood-risk zones by 2100, under moderate emissions cuts. But as there is a striking number of ongoing developments in areas that face high risk, it poses an imminent threat with 14 percent of the state’s homes built from 2010 through 2017 are in the same high-risk areas. The Best Markets For Residential Property Investors 2 days ago Share Save About Author: Donna Joseph Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Sign up for DS News Daily  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago November 15, 2018 1,851 Views Subscribelast_img read more

Pushing Housing Investment in Detroit

first_img Data Provider Black Knight to Acquire Top of Mind 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Now might be the right time to invest in Detroit housing, The Detroit News reports, as the city has avoided inflation seen in other major cities around the country, such as New York City and Miami. Paul Apostolakis, Co-Founder of Omega Lending, states in Detroit News as Metro Detroit loses its reliance on the auto industry, gaines are happening elsewhere.“These days, Metro Detroit is not as dependent on the auto industry — more residents are working in medical and health care industries, cybersecurity, information technology and agribusiness,” Apostolakis said. “That diversification will help the housing market fare better this time around.”Additionally, Detroit is seeing home prices increase. Jeanette Schneider, VP of Management Services for RE/MAX of Southeastern Michigan states that “Detroit home values are seeing dramatic increases over last year.”“During the first half of the year, the median price for a home in the city of Detroit increased more than 20%,” Schneider said. “Driving the increase in home values is the demand for Detroit housing.”“While some neighborhoods have seen skyrocketing prices, there are still affordable communities that offer the brick homes that people desire at affordable prices,” she added.Detroit has recently seen significant investment from not only small investors, but large investors as well. Bank of America has announced that it will be investing $3 million in Detroit neighborhoods aimed at helping homeowners and small-business entrepreneurs, as well as another $2.5 million in support of Detroit’s neighborhoods.“Bank of America is committed to investing in the people, places and projects that move Detroit forward. Our neighborhood strategy is providing support that spurs economic mobility for individuals and families,” said Matt Elliott, Michigan market president at Bank of America. “This foundation grant and the business investments we’ve made to support entrepreneurship, create jobs and make homeownership more attainable are helping to drive economic mobility and strengthen Detroit now and for future generations.”Home prices in In Detroit Share Save Demand Propels Home Prices Upward 2 days ago Detroit Investment 2019-11-19 Seth Welborn  Print This Post Previous: Senator Warren Unveils Updated Housing Plan Next: Fannie Mae Announces 2020 Securities Issuance Calendar November 19, 2019 1,295 Views Home / Daily Dose / Pushing Housing Investment in Detroit The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Pushing Housing Investment in Detroit Demand Propels Home Prices Upward 2 days ago Tagged with: Detroit Investment About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Related Articles Subscribe in Daily Dose, Featured, Investment, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

People urged to check on elderly as the heatwave continues

first_imgNews Google+ Twitter WhatsApp Help sought in search for missing 27 year old in Letterkenny RELATED ARTICLESMORE FROM AUTHOR Google+ Three factors driving Donegal housing market – Robinson People are being urged to check in on elderly neighbours or relatives this weekend – as the heatwave continues.Yesterday was the hottest day so far this year, with the mercury hitting over 30 degrees in south Donegal and county Fermanagh.Met Eireann has stated that temperatures are expected to fall slightly by the end of the week, however they will remain in the low 20s.Age Action Ireland says heatwaves in other countries have resulted in increased deaths among older people.As people in Ireland are not used to this kind of heat, they stated people need to be aware of its dangers and do what they can to protect those most vulnerable.Older people are being advised to stay cool indoors during the mid-day heat, and ensure they drink plently of water throughout the day to prevent dehydration. Facebook People urged to check on elderly as the heatwave continues Twittercenter_img Pinterest Facebook Pinterest By News Highland – July 20, 2013 WhatsApp 448 new cases of Covid 19 reported today NPHET ‘positive’ on easing restrictions – Donnelly Previous articleNaomh Brid GAA club organises solo challenge in aid of Donegal HospiceNext articleDrowning victims in Donegal and Tyrone named News Highland Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector publishedlast_img read more

Another serious sexual assault in Derry

first_img By News Highland – November 19, 2011 Twitter WhatsApp Facebook Facebook Three factors driving Donegal housing market – Robinson Twitter Pinterest Pinterest Another serious sexual assault in Derry RELATED ARTICLESMORE FROM AUTHOR WhatsAppcenter_img Detectives are appealing for information following a report of a serious sexual assault in the Templegrove area of Derry in the early hours of Saturday 19 November.It is believed that at approximately 3.15am, a young woman was assaulted by an unknown male, described as being of medium build, approximately 6’0″ tall, with long hair down to his chin and stubble. He had a local accent and was wearing a dark trench coat and lace up boots.Anyone with information about this incident is asked to contact Detectives in the PSNI’s Rape Crime Unit (from the north)  on 0845 600 8000. Or if someone would prefer to provide information without giving their details, they can contact the independent charity Crimestoppers and speak to them anonymously on 0800 555 111. 448 new cases of Covid 19 reported today Google+ NPHET ‘positive’ on easing restrictions – Donnelly Newsx Adverts Help sought in search for missing 27 year old in Letterkenny Google+ Previous articleLetterkenny Chamber business person of the year announcedNext articleShock at news that Flannagan’s Furniture has gone into liquidation News Highland Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector publishedlast_img read more

Man arrested in Paul McCauley murder probe released

first_img Facebook WhatsApp Nine Til Noon Show – Listen back to Wednesday’s Programme Previous article180 part time jobs announced for Donegal ahead of Census 2016Next articleDanger and delays as motorists speed and skip lights through N15 roadworks News Highland Twitter A 27 year old man who was arrested in Omagh this morning, Tuesday 15 December, by detectives from Serious Crime Branch investigating the murder of Paul McCauley, has been released on police bail pending further enquiries.He was taken to the town’s police station for questioning.Earlier, the officer leading the investigation, Detective Chief Inspector Michael Harvey said today’s arrest brought the number of people who have been arrested since Paul died last June to 11. To date, one man has been charged with murder and another reported to the Public Prosecution Service.DCI Harvey said police enquiries into Paul’s murder were very much ongoing and he appealed to those with information to come forward. Twitter RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNews Calls for maternity restrictions to be lifted at LUH Facebook Pinterestcenter_img Three factors driving Donegal housing market – Robinson By News Highland – December 15, 2015 Pinterest Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly Man arrested in Paul McCauley murder probe released WhatsApp GAA decision not sitting well with Donegal – Mick McGrath Google+ Google+last_img read more