Study: Economy On More Solid Ground, Housing May Soon Follow

first_img The Best Markets For Residential Property Investors 2 days ago October 10, 2014 4,017 Views Related Articles Now that the overall economy is on more solid ground, Wells Fargo economists suggest that housing may soon follow in its footsteps, according to Wells Fargo’s Housing Chartbook for October 2014 released on Thursday.The second quarter real GDP growth was recently revised to a higher annualized rate of 4.6 percent, and the unemployment rate has fallen below 6 percent for the first time since 2008. Data on consumer spending and employment for the third quarter suggests that the economy will close out 2014 on a high note, according to Wells Fargo. The economists indicated in the report that they believe real GDP growth will average 3 percent per annum for the next two years.Improvement in the economy, however, has not translated into improvement for the housing market to date except for a few isolated markets such as Austin, Charlotte, and Nashville, all of which experienced strong employment and income growth, according to Wells Fargo’s report. New and existing home sales remain disappointing despite the improved economic conditions, with investors stepping away at a faster rate than traditional buyers are returning. Many new households choosing renting over buying, according to Wells Fargo.While some predict that the housing market is poised for more rentals than buys for years to come, particularly among millennials, Wells Fargo suggests the contrary. Because foreclosures, delinquencies, and mortgages in a negative equity position have all been steadily declining over the last few years, Wells Fargo economists predict that home sales will improve and the demand for mortgages will revive once households are more confident about income and employment. Tighter lending standards have prevented many from obtaining a mortgage loan, according to Wells Fargo.New home sales saw an 18 percent increase nationwide in August, sending them to their highest level since 2008. The Northeast and West experienced the largest gains in new home sales with 29.2 percent and 50 percent, respectively, according to Wells Fargo. The surge in new home sales matches the monthly gain in builder sentiment; the National Association of Home Builders (NAHB)/Wells Fargo Home Builder Sentiment Index jumped 4 points in September up to 59, its best score in nine years.Existing home sales fell off by 1.8 percent in August, but the decline in all-cash transactions (down 6 percentage points to 23 percent) suggests that investors are becoming less active in the housing market, according to Wells Fargo. Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Study: Economy On More Solid Ground, Housing May Soon Follow Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img  Print This Post Consumer Confidence Consumer Sentiment Economy Home Sales Housing Market Wells Fargo 2014-10-10 Brian Honea in Daily Dose, Featured, Market Studies, News Tagged with: Consumer Confidence Consumer Sentiment Economy Home Sales Housing Market Wells Fargo Previous: DS News Webcast: Friday 10/10/2014 Next: Consumer Spending Rises for Second Straight Month Home / Daily Dose / Study: Economy On More Solid Ground, Housing May Soon Follow Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 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. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Non-Current Inventory, Foreclosure Starts, and Delinquencies All Rise Month-Over-Month

first_img Tagged with: Black Knight Financial Services Foreclosure Inventory Foreclosure Starts Mortgage Delinquencies May saw month-over-month increases in foreclosure starts, non-current residential housing inventory, and mortgage delinquencies, according to Black Knight Financial Services’ First Look at Mortgage Data for May 2015 released Wednesday.Non-current inventory, which is comprised of all residential properties 30 days or more delinquent or in foreclosure, totaled approximately 3.3 million in May – an increase of about 89,000 from April, according to Black Knight. It was the second consecutive month-over-month increase for non-current inventory; despite this, May’s total was down by more than half a million (537,000 loans) from May 2014. The state with the largest six-month improvement in non-current inventory was Florida, which had a non-current inventory of 8.31 percent in May – a 22 percent improvement from six months earlier.The delinquency rate, which is the percentage of properties 30 days or more overdue but not in foreclosure, represented 4.96 percent of all residential mortgage loans nationwide in May – a 4 percent increase from April. May marked the second consecutive month-over-month increase in delinquency rate.Overall, the number of delinquent mortgages jumped by 98,000 up to about 2.5 million in May.  Despite the increase in delinquent loans for the last two months, the delinquency rate is still down by 12 percent from May 2014 and is at its lowest point since the summer of 2007, according to Black Knight.Foreclosure starts climbed by 11 percent nationwide from April to May, from 73,500 up to 81,900, just one month after declining by nearly 22 percent from March to April.The foreclosure pre-sale inventory rate ticked slightly downward month-over-month by about 10,000 properties to 754,000 in May, representing 1.49 percent of all mortgages nationwide. May’s foreclosure inventory total represented a decline of about 212,000 properties (22 percent) from May 2014, according to Black Knight.To view Black Knight’s complete First Look at Mortgage Data for May 2015, click here. 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 June 24, 2015 1,526 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post 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 Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles Black Knight Financial Services Foreclosure Inventory Foreclosure Starts Mortgage Delinquencies 2015-06-24 Brian Honeacenter_img Share Save Home / Daily Dose / Non-Current Inventory, Foreclosure Starts, and Delinquencies All Rise Month-Over-Month The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Foreclosure, News About Author: Brian Honea Subscribe Non-Current Inventory, Foreclosure Starts, and Delinquencies All Rise Month-Over-Month Sign up for DS News Daily Previous: GSEs’ Q1 Foreclosure Prevention Actions Bring Seven-Year Total to 3.5 Million Next: DS News Webcast: Monday 06/24/2015last_img read more

Wingspan Portfolio Advisors Files For Bankruptcy

first_img The Best Markets For Residential Property Investors 2 days ago Bankruptcy Wingspan Portfolio Advisors 2015-07-14 Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Wingspan Portfolio Advisors Files For Bankruptcy  Print This Post in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Tagged with: Bankruptcy Wingspan Portfolio Advisors Servicers Navigate the Post-Pandemic World 2 days ago Share Save Wingspan Portfolio Advisors filed for Chapter 7 bankruptcy on Tuesday in the United States Bankruptcy Court for the Eastern District of Texas, the court confirmed to DS News.In a Chapter 7 bankruptcy, the company ceases operations while a trustee liquidates a company’s assets in order to pay off debt. A company in Chapter 7 bankruptcy continues operations only if the trustee decides to continue.”Since this is a Chapter 7 bankruptcy, the debtor no longer exists,” said Wingspan’s bankruptcy attorney, Dan Morenoff, of Dallas-based The Morenoff Firm. “A trustee now owns the estate. The parking brake has been pulled and the trustee is in charge.”The trustee, Michelle Chow, could not immediately be reached for comment.Wingpsan, which was founded in 2008 by Steve Horne, announced in October 2014 that it had received a multi-million dollar capital infusion from its stockholder investor group. Around the same time, Wingspan announced the divestiture of insurance claims management firm Dimont & Associates, which Wingspan acquired in May 2013, after Dimont received a recapitalization of its own.Also in October 2014, Wingspan announced that its founder and CEO, Horne, had been moved into a senior advisor role with the firm while Jason Spooner, EVP of national operations with Wingspan since 2012, was named president of the company. At that time, Horne said that with the divestiture of Dimont & Associates and the capital infusion, Wingspan was debt free. Horne said Wingspan had “experienced a fair degree of turbulence” with the industry’s shift out of the default crisis, and that the company has made moves to diversify its services and align its workforce to the new environment. Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Wingspan Portfolio Advisors Files For Bankruptcycenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: DS News Webcast: Wednesday 7/15/2015 Next: Bank of America’s Net Income More Than Doubles in Q2; U.S. Bank, PNC Profitable Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 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. Related Articles July 14, 2015 2,497 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribelast_img read more

New Jersey Aims to Help Homeowners Facing Foreclosure

first_imgSubscribe Home / Daily Dose / New Jersey Aims to Help Homeowners Facing Foreclosure New Jersey Aims to Help Homeowners Facing Foreclosure Demand Propels Home Prices Upward 2 days ago About Author: Krista Franks Brock With a foreclosure rate more than twice as high as the national average, New Jersey is aiming to help thousands of homeowners with a new housing counseling program. The New Jersey Housing and Mortgage Finance Agency announced recently that it will spend $1 million to provide housing counseling for up to 2,000 homeowners facing foreclosure. “Foreclosures continue to threaten homeowners in New Jersey, creating housing instability for thousands of people every year,” said Lt. Governor Sheila Y. Oliver, Commissioner, and Chair of the New Jersey Housing and Finance Agency board. “By providing housing counselors who will work with the homeowners in the court’s mediation program, we are hoping to provide many more residents, regardless of income, access to resources that may help save their home.” New Jersey’s foreclosure rate is currently 0.16 percent, compared to a national average of 0.06 percent, according to industry data. “Mediation can save a home from foreclosure, yet too many homeowners enter the foreclosure process with their mortgage lender without and understanding of the type of relief that may be available to them,” the New Jersey Housing and Mortgage Finance Agency stated with the announcement of the new program. Under the program, homeowners served with a foreclosure notice will be made aware of available housing counseling services through the U.S. Department of Housing and Urban Development. Counselors will be able to provide services such as creating an action plan, negotiating with the lender, and providing post-mediation counseling. Counseling will be available to homeowners who are “the subject of an active residential mortgage foreclosure action,” who request counseling within 60 days of foreclosure notice, who live in the property facing foreclosure, and who are not currently in bankruptcy. The New Jersey agency referenced research by the Urban Institute that suggested that homeowners who receive housing counseling when facing foreclosure are three times more likely to receive a loan modification and 70 percent more likely to remain current on their mortgage after receiving that loan modification. “Foreclosures crush families and blight neighborhoods,” said Ras J. Baraka, mayor of Newark, New Jersey. “Governor Murphy’s new housing counseling program is an important addition to Newark’s existing stabilization partnerships that give owner occupants the opportunity to modify their loans, write down the balances and forgive back payments.” Executive Director of the New Jersey Housing and Mortgage Finance Agency Charles A. Richman said, “Housing counselors serve a vital role in mediation and provide valuable assistance in guiding a homeowner facing foreclosure to explore options.” Tagged with: Counseling Foreclosure Homeowners HUD New Jersey August 15, 2018 2,259 Views Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, Newscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Counseling Foreclosure Homeowners HUD New Jersey 2018-08-15 Krista Franks Brock The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Predicting Servicing Issues Before they Happen Next: A Snapshot of the Housing Market in 2019 The Best Markets For Residential Property Investors 2 days ago 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 agolast_img read more

Home Prices Hit New Record

first_img Related Articles 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 Home Prices Hit New Record 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. Home / Daily Dose / Home Prices Hit New Record Tagged with: Home Prices Homebuyers Inventory Sales Previous: Talking Mortgage Reform Next: The Industry Pulse: Updates on Equifax, Tromberg Law Group, and More April 4, 2019 856 Views Home Prices Homebuyers Inventory Sales 2019-04-04 Seth Welborn  Print This Post About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News According to a recent report from Realtor.com, the median U.S. home price just hit $300,000 for the first time. Realtor.com’s March 2019 monthly housing trend report, released on Thursday, reveals a seven percent year-over-year median listing price increase.”The typical U.S. home list price has set a new high right on the cusp of the spring homebuying season, and despite a slowing growth rate, home prices will likely continue to set new records later this year,” said Danielle Hale, Realtor.com’s Chief Economist. “Heading into spring, U.S. prices are expected to continue to rise and inventory is expected to continue to increase, but at a slower pace than we’ve seen the last few months as fewer sellers want to contend with this year’s more challenging conditions. A buyer’s experience will vary notably depending on the market and price point they’re targeting.”Realtor.com notes that the increase in home prices this year has been affected primarily by inventory growth in the high-end of the market. The report notes that for-sale homes priced over $750,000 increased 11 percent year-over-year, despite entry level homes priced $200,000 or below declined 9 percent during the same period.This season’s increase is still relatively slow compared with recent months. Hale states that the rate of inventory growth slowed compared to the last few months and this slower-growth trend could continue into April, especially if fewer new listings hit the market. March saw a four percent year over year increase in homes for sale, up by 56,000 additional homes.However, March’s growth was primarily focused in the 50 largest U.S. markets, which saw a nine percent growth in inventory.Despite the increased inventory, Realtor.com notes that many metroes saw a year over year decline in fresh properties. Nationally, the number of newly listed properties hitting the market declined by 0.4 percent from last year, meaning more options for buyers, but not many fresh opportunities. Some metroes saw significant year over year decreases in inventory. For example, St. Louis, Washington, D.C., and Oklahoma City, where inventory declined by 19 percent, 14 percent and 11 percent. The East Coast, however, saw significant inventory gains, with San Jose, California; Seattle, and San Francisco, growing by 114 percent, 77 percent and 44 percent, respectively. Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Demand Propels Home Prices Upward 2 days agolast_img read more

Eye on Mortgage Delinquencies

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Black Knight Delinquency Foreclosure Sales 2019-04-23 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Eye on Mortgage Delinquencies 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 Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Share Save Demand Propels Home Prices Upward 2 days agocenter_img Previous: Northpointe Bank Appoints New SVP Next: Delgado & HUD’s Carson Discuss Housing Industry Challenges Tagged with: Black Knight Delinquency Foreclosure Sales April 23, 2019 2,447 Views  Print This Post Subscribe Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, Market Studies, News The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Prepayments increased in March, according to the latest data from Black Knight. While prepayments surged by 28% month over month, the highest month over month increase in 2.5 years, the delinquency rate dropped by by 5.3%.Black Knight notes that despite the drop in delinquencies, this is the smallest improvement for any March in six years in what is typically the strongest-performing month of the year. March’s 39,700 foreclosure starts marked the lowest single-month volume in more than 18 years, while reduced outflow held active foreclosure inventory steady at 264,000. Additionally, outstanding 90-day delinquencies have now fallen below 500,000 for the first time in more than 12 years.Mississippi tops Black Knight’s data in non-current loans, at 10.25%, followed by Louisiana at 7.94%. These two states also lead in their share 90-days delinquent borrowers. California and Idaho take the bottom two spots with 2.36% and 2.25% of borrowers non-current, respectively.CoreLogic data reveals a similar story to Black Knight. According to the latest Loan Performance Insights Report from CoreLogic, mortgage delinquencies fell by 0.9% year over year in March. Frank Nothaft, CoreLogic Chief Economist cites recent employment increases as one reason for the improved loan performance.”Income growth, home appreciation and sound underwriting combined have pushed delinquency rates to their lowest level in 20 years,” said Nothaft. “The low delinquency rates on home mortgages are a contrast to the rising delinquency rates on consumer credit. While home mortgage delinquency rates are at, or are near, their lowest levels in two decades, delinquency rates for auto and student loans are higher now than they were during the early and mid-2000s.”Overall delinquency rates have been declining. The foreclosure inventory fell by 0.2% year over year as of January 2019, down to 0.4%.”As the economic expansion continues to create jobs and low mortgage rates support home buying this spring, delinquency rates are likely to trend lower during the coming year,” said Frank Martell, President and CEO of CoreLogic. “The decline in delinquency rates has occurred in nearly all parts of the nation.”Black Knight will release its full Mortgage Monitor report on Monday, May 6. Data Provider Black Knight to Acquire Top of Mind 2 days ago Eye on Mortgage Delinquencieslast_img read more

Top Concerns for Investors

first_imgHome / Daily Dose / Top Concerns for Investors Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The trade war is on everyone’s minds, especially investors. According to a survey from SophisticatedInvestor.com, the U.S.-China Trade War is the top geopolitical or economic event investors are worried about, with 45.8% if investors citing it as their top concern. The trade wars are twice as important as the national debt and significantly higher than interest rate cuts from the Fed. Other factors of concern to investors include tensions in the Persian Gulf.When demographic filters were applied to the results factoring specifically 35 to 44 years old, the percentage of investors concerned the most about the trade war increased to 47.6%, and even further to 48.2% with males of that age bracket.“The fact that nearly half of all respondents to the survey sighted the US-China trade war as the primary concern for the direct effects on investment portfolios, comes as little surprise,” SophisticatedInvestor.com notes. “Over the past couple of weeks, financial markets have endured a roller coaster ride specifically attributed to uncertainties surrounding the escalating trade war between the two countries. The general consensus amongst analysts is the market volatility will continue until the trade war ceases between the US and China.”Just 11% of respondents stated that the Fed’s interest rate cuts worried them most when it came to the health of their investment portfolio, while 8.4% of respondents indicated that they worried most about the effects of the escalating tensions pertaining to the Hong Kong protests on the health of their investment portfolio. This number jumped to 9.5% when demographic filters were applied specifically to those 65.Another concern is increasing tensions in the Persian Gulf between Iran and Britain. Around 4.8% of investors surveyed cited  Persian Gulf tensions as a concern for their portfolios, and this percentage leaps to 8.7% when demographic filters are applied to the survey results, factoring specifically males between 55 and 64. Economy Investment Portfolios Trade 2019-08-27 Seth Welborn Demand Propels Home Prices Upward 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. August 27, 2019 1,006 Views Previous: Employment’s Correlation with Housing Next: Zombie Homes are Nationwide About Author: Seth Welborn Top Concerns for Investors The Best Markets For Residential Property Investors 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 The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Tagged with: Economy Investment Portfolios Trade Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Investment, News Subscribelast_img read more

Credit Scores and Down Payments Reach All-Time Highs

first_img Previous: Biden Says His Economics Team ‘Will Deliver Immediate Relief’ Next: What is Driving the Increase in Forbearance Activity? Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Faced with elevated home prices and stricter credit requirements, borrowers in Q3 placed, on average, higher down payments on their mortgage loans than ever before, according to Bloomberg.Citing a report from ATTOM Data Solutions, Bloomberg reports the median down payment for single-family residences was $20,775 in the third quarter. That, reported Bloomberg, is the highest in records going back to 2000, “up 69% from $12,325 a year earlier, before record-low mortgage rates kicked the housing boom into a higher gear.”During Q3, homebuyers placed down 6.6% of the median sales price of the home they were financing, which is 4.7% higher than last year’s third quarter. It also is the highest average down payment since 2018. Median Q3 loan amounts, $275,500, were the highest since 2000, up 24% from the same period in 2019.A source from ATTOM has attributed the increased down payments to increasingly rigorous credit standards.”Down payments are rising at a time when lenders are tightening their guidelines,” said Todd Teta, Chief Product Officer at ATTOM Data Solutions. “Lenders have grown more cautious in order to protect themselves from more delinquencies.”Referring to a Freddie Mac report from late November, Bloomberg reported that mortgage companies are “raking in cash in the midst of the pandemic, earning hefty margins while consumers flood in to buy homes or refinance existing loans to take advantage of record-low mortgage rates. The average for a 30-year, fixed loan tumbled to 2.72% this week, the lowest in data going back almost 50 years.”Bloomberg reporters Prashant Gopal and Shahien Nasiripour deduce: “It’s no wonder that lenders have gotten pickier than they have been in decades … lenders including JPMorgan Chase & Co. have tightened terms for borrowers amid widespread worry about future economic growth.”They cite, for example, the fact that JPMorgan in early November told loan officers that it would “limit jumbo loans to 70% of the sale price for most co-ops and condominiums in Manhattan.”In Q3, report Gopal and Nasiripour, the average borrower had a 786 credit score—that is the highest median score since 1999. They added that last month saw the highest mortgage origination numbers since 2003 (citing the Fed). Related Articles Home / Daily Dose / Credit Scores and Down Payments Reach All-Time Highs About Author: Christina Hughes Babb  Print This Post Share Save Demand Propels Home Prices Upward 2 days ago Credit Scores and Down Payments Reach All-Time Highs Servicers Navigate the Post-Pandemic World 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Newscenter_img 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 Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Credit Scores Down Payment Data Provider Black Knight to Acquire Top of Mind 2 days ago Credit Scores Down Payment 2020-11-30 Christina Hughes Babb November 30, 2020 13,082 Views The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Subscribelast_img read more

Donegal businesses urged to use Credit Review Office

first_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton NPHET ‘positive’ on easing restrictions – Donnelly WhatsApp Twitter WhatsApp By News Highland – September 13, 2010 Pinterest RELATED ARTICLESMORE FROM AUTHOR Donegal businesses urged to use Credit Review Office Facebook Donegal businesses who have been unsuccessful in getting access to credit in banks are being urged to take their case to the Credit Review Office.Many small businesses who need very small amounts of money to fulfil contracts or expand are said to be failing to get any more money from the banks.But, according to Senator Cecilia Keaveney many who have taken their case the the Credit Review Office have had success:[podcast]http://www.highlandradio.com/wp-content/uploads/2010/09/ceccredit.mp3[/podcast] Google+center_img Pinterest Twitter Previous articleDonegal success in Tidy Towns 2010Next articleLarkin has “no confidence” in Gormley News Highland Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ Three factors driving Donegal housing market – Robinson Calls for maternity restrictions to be lifted at LUH Guidelines for reopening of hospitality sector published Facebook Newsx Advertslast_img read more

Police investigate suspicious package in Derry

first_img Facebook WhatsApp Twitter Pinterest Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Google+ A suspicious package has been discovered in Co. Derry.It was found this morning in Victoria Car Park.The area has now been cordoned off and Police are investig Previous articleTrial continues of Donegal Town man accused of hammer murderNext articleEamon Ó Cuív special guest for Pat O’Donnell commemoration News Highland Almost 10,000 appointments cancelled in Saolta Hospital Group this week Calls for maternity restrictions to be lifted at LUH center_img WhatsApp Facebook Three factors driving Donegal housing market – Robinson RELATED ARTICLESMORE FROM AUTHOR Newsx Adverts By News Highland – November 12, 2011 Guidelines for reopening of hospitality sector published Police investigate suspicious package in Derry Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more