Wells Fargo Financial Report Reinforces Recovery

first_imgSubscribe  Print This Post The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago July 11, 2014 1,164 Views Wells Fargo reported strong financials for the second quarter, driven in part by an uptick in mortgage lending and ongoing improvements in credit quality.The megabank reported $5.7 billion in net income for the quarter, up 4 percent over $5.5 billion a year prior. For the year’s first half, Wells Fargo took in $11.6 billion in net income, up nearly $1 billion compared to the same period in 2013.”Our strong results in the second quarter reflected the benefit of our diversified business model and our long-term focus on meeting the financial needs of our customers,” said John Stumpf, chairman and CEO of the bank. “Our results also reflected strong credit quality driven by an improved economy, especially the housing market, and our continued risk discipline.”Coming from the nation’s biggest name in finance—and the first megabank to release Q2 results—Wells Fargo’s report serves as the first sign of how consumer lending fared throughout the quarter. Next on the schedule is Citigroup on July 14, followed by JPMorgan Chase on July 15.On the home lending side, Wells Fargo reported mortgage originations of $47 billion, up from $36 billion in the first quarter, with applications pulling up $12 billion to a total of $72 billion.The bank’s application pipeline also nudged up to $30 billion as of the end of June compared to $27 billion at the end of the first quarter.Meanwhile, the bank reported another $500 million reserve release, reflecting improvements in credit quality as a result of the housing recovery. Charge-offs on bad loans also declined from the first quarter, falling to $717 million from $825 million before.”Credit performance continued to improve in the second quarter as credit losses remained at historically low levels, nonperforming assets continued to decrease and we continued to originate high quality loans,” said Mike Loughlin, chief risk officer.Loughlin added that the bank continues to expect future reserve releases, though not as high “as the rate of credit improvement slows and the loan portfolio continues to grow.” The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines, News Tagged with: Economic Recovery Quarterly Earnings Report Wells Fargo Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Previous: New Home Purchases Drop in June Next: CFPB Issues Guidance to Prevent Consumer Protection Work-Around Economic Recovery Quarterly Earnings Report Wells Fargo 2014-07-11 Tory Barringer The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Wells Fargo Financial Report Reinforces Recovery Wells Fargo Financial Report Reinforces Recoverylast_img read more

Index Points to Moderate Economic Growth For Remainder of 2014

first_img Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Index Points to Moderate Economic Growth For Remainder of 2014  Print This Post October 24, 2014 807 Views Home / Daily Dose / Index Points to Moderate Economic Growth For Remainder of 2014 Previous: Foreclosure Inventory, Delinquencies See Declines in September Next: Anonymous Bidder Puts Up $3.1 Million for Distressed Homes in Detroit Conference Board Credit Availability Economic Indicators Economy Housing Permits 2014-10-24 Tory Barringer Sign up for DS News Daily Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago 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 agocenter_img Subscribe The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. A gauge of leading economic indicators in the United States showed solid growth in September, suggesting moderate economic expansion to finish out the year.The Conference Board’s Leading Economic Index, a measure of economic developments as an indicator of future trends, increased 0.8 percent last month to 104.4 following a downwardly revised August reading that showed no change.The index tracks a handful of component indicators, including labor market conditions, housing construction activity, and credit conditions.According to the Conference Board, most of the index’s components have picked up momentum in the last half-year, suggesting moderate expansion in the economy for the remainder of 2014.Nine of the ten components contributed to the latest increase, led by improvements in the spread between long and short rates. The index’s credit component was also a major contributor, adding 0.11 percentage points as banks gradually loosen credit standards.On the other hand, housing construction contributed little to September’s index, adding 0.05 percentage points as permits for new projects proved lackluster for that month.”Permits could come under some pressure going forward as the NAHB builder’s sentiment index fell five points to 54, following four-straight months of gains,” Wells Fargo analysts Tim Quinlan and Zachary Griffiths said in a note. “This could simply be a result of the typical buying season coming to an end; however, this was a sizable drop and may be a sign of caution going forward.””The financial markets are reflecting turmoil and unease, but the data on the leading indicators continue to suggest moderate growth in the short-term,” said Ken Goldstein, Economist at The Conference Board. “Meanwhile, the weak advances in the housing market remain a bigger risk to the outlook than short-term financial gyrations.”The Conference Board’s other monthly economic indices, which measure lagging and current indicators, also grew in September, though at a more modest rate: The Coincident Economic Index was up 0.4 percent to 110.2, according to the group, while the Lagging Economic Index ticked up 0.1 percent to 125.1. About Author: Tory Barringer Tagged with: Conference Board Credit Availability Economic Indicators Economy Housing Permitslast_img read more

Consumer Sentiment Rises for Fourth Straight Month

first_imgHome / Daily Dose / Consumer Sentiment Rises for Fourth Straight Month  Print This Post Related Articles Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Tory Barringer Consumer Confidence Consumer Spending Employment GDP Jobs 2014-12-02 Tory Barringer Share Save Tagged with: Consumer Confidence Consumer Spending Employment GDP Jobs Servicers Navigate the Post-Pandemic World 2 days ago Consumer sentiment hit yet another post-recession high in November, reflecting increased confidence in personal finances and the labor market heading into the holiday spending season.The Thomson Reuters/University of Michigan consumer sentiment index saw its fourth straight monthly gain last month, climbing to a reading of 88.8. The final index fell in between October’s final value of 86.4 and a mid-month reading of 89.4 and was once again at the highest level since July 2007.The entire gain was concentrated in the survey’s Current Conditions Index, which rose more than four points to 102.7. The Expectations Index was also up, but only modestly at 79.9.According to the group conducting the survey, last month’s gain was due to improved personal finances as well as a more favorable employment outlook stemming from a stronger pace of economic growth.On the topic of recent economic developments, survey respondents cited job gains over all other news items and anticipated further declines during the next year. They also said they expect household incomes to increase 1.1 percent annually, the biggest prediction in six years.The survey’s director, Richard Curtin, said lawmakers will need to work together following November’s midterm results if they want consumer confidence to keep rising.”In the past few years, renewed consumer optimism has been repeatedly thwarted by partisan bickering,” Curtin said, pointing to showdowns over the debt ceiling, the so-called fiscal cliff, and last year’s government shutdown. “The renewed confidence consumers have expressed must be nurtured, not again held hostage to partisan differences.”Based on recent data, Curtin expects consumer spending will make 2015 the best year for the economy since 2005. The Best Markets For Residential Property Investors 2 days ago Consumer Sentiment Rises for Fourth Straight Month Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news. Demand Propels Home Prices Upward 2 days ago December 2, 2014 761 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Hutchens Law Firm Attorneys Receive Top Honors Next: Economist Predicts Millennials Will Greatly Increase Presence in Home Market in 2015 The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

The Impact of Fed Rate Hikes on Homeowners

first_img in Daily Dose, Featured, Government, News ARMs Federal Reserve Inflation LendingTree loans mortgage NerdWallet Realtor.com 2018-06-13 Radhika Ojha Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe June 13, 2018 2,275 Views On Wednesday, the Federal Reserve raised its short-term interest rate by a quarter percentage point, a move that is most likely to impact home equity lines of credit (HELOCs) immediately. The rate hike, that was widely anticipated by the industry, come on the back of a strengthening labor market and an economy that has been growing at “a solid rate,” according to a statement released by the Fed. The increase points to a target range of 1.75 percent to 2 percent federal funds rate, while “supporting strong labor market conditions and a sustained return to 2 percent inflation.”The statement also pointed to at least two more rate hikes during the year, which will bring the total number of rate increases to four in 2018.According to Sam Khater, chief economist at Freddie Mac, the Fed rate hikes are less likely to impact long-term mortgage loan borrowers this time around. “The Federal Reserve announced their decision to raise the federal funds rate by 25 basis points,” he said. “One thing to point out is that there are fewer consumers today whose debt is tied to short-term rates, and because the majority of consumer debt is from mortgages, this means the recent short-term rate hikes will be less impactful than what was seen in the mid-2000s.”However, the impact of these hikes is most likely to be felt on HELOCs immediately. “With the Fed increasing the federal funds rate, the interest rates on credit cards and HELOCs will rise within a billing cycle or two,” said Holden Lewis, Research Analyst at NerdWallet.Since adjustable rate mortgages (ARMs) and HELOCs are based on short-term rates, they’re most likely to get impacted immediately according to Tendayi Kapfidze, Chief Economist at LendingTree. “The prime rate [for these loans] is a bank lending rate set as a spread to the Fed funds rate,” Kapfidze explained. “It will increase with the Fed hike, and since most HELOCs are tied to this rate, borrowers will see immediate increases in their interest rates.”An analysis by NerdWallet indicated that the central bank had raised short-term rates twice so far this year for a total of half a percentage point. “But the average rate on the 30-year fixed rate mortgage has gone up more than that. It has risen almost three-quarters of a percentage point,” Lewis said. “This larger rise in mortgage rates is a sign that mortgage lenders expect the inflation rate to settle at a higher level over the next few years. Meanwhile, the Fed is expected to keep raising the federal funds rate to capture and hold the inflation rate near its target of 2 percent.”Thus homebuyers looking for a mortgage for the first time are likely to be impacted too. “Homebuyers who have been able to take advantage of the previous uncertainty over rates to lock lower mortgage rates are likely to be satisfied with their decision,” said Danielle Hale, Chief Economist, Realtor.com.However, according to Lewis, homebuyers shouldn’t rush in to buy homes because of this hike in interest rates. “Interest rates on auto loans and mortgages have been going up, responding to market forces,” he said. “Even if rates continue to rise, that’s not a reason to rush into ownership of a car or home before consumers are ready.” About Author: Radhika Ojha Home / Daily Dose / The Impact of Fed Rate Hikes on Homeowners Share Save Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Related Articles Previous: Evictions Webinar Explores PTFA Implications Next: National Mortgage Servicing Association Petitions FCC on TCPA Regscenter_img The Best Markets For Residential Property Investors 2 days ago The Impact of Fed Rate Hikes on Homeowners 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 Demand Propels Home Prices Upward 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Tagged with: ARMs Federal Reserve Inflation LendingTree loans mortgage NerdWallet Realtor.com Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

A Resurgence of ARMs

first_img in Daily Dose, Featured, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Adjustable-rate mortgages (ARMs) may have been a defining trait of the housing market crash. However, the average mortgage rates on 5/1 adjustable-rate mortgages (ARMs) as well as the  30-year fixed-rate mortgages (FRMs) rose by about 70 basis points from August 2017 to August 2018, according to an analysis by CoreLogic. “ARMs were popular prior to the housing bubble burst and its share of the dollar volume of conventional loan originations dropped to a staggering 4 percent in early-2009 from more than 50 percent during mid-2005,” Archana Pradhan, Senior Professional Economist at CoreLogic wrote on its blog. Though the rates of ARMs have fluctuated from 8-18 percent, increasing and decreasing in tune to the rise and decline of FRMs, the overall ARM share remained stable from last year despite the rise in the mortgage interest rate, the report indicated. The analysis also found that ARMs accounted for 15 percent of the dollar volume of conventional single-family mortgage originations as of August 2018. It is worth noting that the national share of ARMs had considerable variations across locations and loan sizes. The report found that ARMs are common in expensive areas and among homebuyers borrowing large-balance mortgage loans than for those with smaller loans. The rate on 30-year FRMs surged to 4.55 in August 2018 from 3.88 in August 2017. Similarly, the rate on 5/1 ARMs rose to 3.87 in August 2018 from 3.15 in August 2017. Buyers perceive ARMs to be a more feasible option on account of its lower initial interest rate, especially for bigger loans compared to FRMs, resulting in bigger monthly savings. Pradhan noted the strong relationship between the average sale price and the ARM share, wherein it is higher for metros with a higher average sale price. San Jose metro had the highest average sale price and the largest share of ARMs out of all conventional mortgage originations in 2018. Metro areas used in the CoreLogic analysis are Core Based Statistical Areas. At a stable rate since 2017, ARMs comprised 51 percent of the dollar volume among mortgages of more than $1 million originated during August 2018. The ARM share dropped by 1 percentage point from August 2017 and is currently at 21 percent among mortgages in the $400,001-$1 million range, and remains unchanged from last year among mortgages in the $200,001-$400,000 range at 7 percent in August 2018. The report reflects on the correlation between the demand for ARMs and FRM rates and the difference in their initial interest rates. For homeowners, relatively low FRM rates continue to be a great option despite the rate having increased a year ago. The analysis also cites higher default rates on ARMs during the crash, rigid underwriting requirement of lenders in recent years, lengthening periods of expected ownership as the possible reasons for the decrease in ARMs volume. November 14, 2018 577 Views The Best Markets For Residential Property Investors 2 days ago Tagged with: Adjustable Mortgage Rates Archana Pradhan CoreLogic Fixed-Rate Mortgages HOUSING Previous: And Your Home Can Fetch … Next: Marion McDougall Stepping Down From Caliber 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 Demand Propels Home Prices Upward 2 days ago A Resurgence of ARMs Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Sign up for DS News Daily 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] Servicers Navigate the Post-Pandemic World 2 days ago Share Save Home / Daily Dose / A Resurgence of ARMs Adjustable Mortgage Rates Archana Pradhan CoreLogic Fixed-Rate Mortgages HOUSING 2018-11-14 Donna Joseph Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Donna Josephlast_img read more

The Housing Market in the Year Ahead

first_img 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] The Best Markets For Residential Property Investors 2 days ago Affordability amazon Home Values Homeownership Median Income Mortgage Rates 2018-12-03 Donna Joseph Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago December 3, 2018 4,882 Views Zillow’s 2019 predictions indicated that rising mortgage rates and an increasing demand for rentals set the stage for the 2019 housing market, as even current homeowners start to feel locked into their mortgage rates.Despite steady rise during the past two years, mortgage rates remained lower than they were during the recession and below average, given the current level of economic growth. The report stated this trend will change in 2019 as the 30-year fixed rate mortgage reaches 5.8 percent. It also noted that affordability will take a hit, making homeownership difficult for many. Currently, rising mortgage payments outpace the home-value gains—a phenomenon that may encourage homeowners to stay put as they hold on to low mortgage rates and discourage first-time homebuyers— according to Zillow.As higher rates hinder affordability, aspiring homeowners will continue renting, as a result of which the slight drops in rent, in the recent past, will reverse and turn positive again, the report revealed. However, the continued steady investment in apartment construction will prevent rents from drastically surging above income growth. The report also noted that in the third quarter of 2018, the U.S. median rent cost 28.2 percent of the U.S. median income – considerably higher than the 25.8 percent renters paid historically.Zillow expects an increase in the disconnect between urban jobs and suburban residents to continue in 2019, and contribute to longer, more crowded commutes. This will affect those who have long commutes to live within their means as most jobs are confined to urban areas, and affording a home in urban markets. For example, a home in Boston is valued 303 percent more per square foot than a typical outlying home, while the premium for homes in central Washington, D.C., compared to outlying areas is 218 percent per square foot, the report noted. Pointing out the areas that lost Amazon’s headquarters bids to suburban New York and Washington, D.C., the report said that Atlanta, a former Amazon HQ2 contender, has seen some action despite it being passed over by the prime vendor. A smaller Seattle-based company named Convoy is expected to open its East Coast office in the metro. There is also a possibility that Norfolk Southern may relocate its headquarters there.In the wake of deadly fires that tore into California, builders and developers will focus on preventative and/or protected building materials and designs, according to Zillow. Building costs are surging, and insurers are apprehensive offering policies in danger zones leading to slower and costlier rebuilding. Zillow’s projections for homes inundated by rising sea levels and storm surges over the course of a typical 30-year mortgage begun in 2020 are not encouraging.In October, home values were up 7.7 percent from a year earlier, to a U.S. median of $221,500. One mitigating effect to rising mortgage rates will be slower home value growth, Zillow indicated. Forecasting a growth of 6.4 percent from October 2018 to October 2019; a Zillow survey of housing experts and economists anticipates a 3.79 percent increase in home values for 2019. Both forecasts indicate cooling from red-hot growth of 8 percent in March of this year. Subscribe Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Housing Market in the Year Ahead Demand Propels Home Prices Upward 2 days agocenter_img in Daily Dose, Featured, Market Studies, News, Servicing Share Save Previous: RMBS in 2019 Next: Where do Americans Feel Safe? The Housing Market in the Year Ahead About Author: Donna Joseph The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Affordability amazon Home Values Homeownership Median Income Mortgage Rates Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

DS5: Forecasting the Future of Housing

first_img  Print This Post Home / Daily Dose / DS5: Forecasting the Future of Housing DS5: Forecasting the Future of Housing The Best Markets For Residential Property Investors 2 days ago Previous: ‘Disproportionately Affected’: The Economic Impacts of COVID-19 Next: The Changing Landscape for Real Estate Agents <span data-mce-type=”bookmark” style=”display: inline-block; width: 0px; overflow: hidden; line-height: 0;” class=”mce_SELRES_start”></span> The latest episode of DS5: Inside the Industry features an interview with Rob Dietz, Chief Economist, the National Association of Homebuilders.Dietz will discuss how the residential construction industry has been impacted by the pandemic and what the outlook for housing looks like moving forward.You can watch the video at the embed below or at the following link. in Daily Dose, Featured, News Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Tagged with: DS5 Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago July 4, 2020 1,273 Views DS5 2020-07-04 Mike Albanese Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily last_img read more

FHA Updates Policies for In-Person Servicer/Borrower Contacts

first_imgSign up for DS News Daily 2021-02-03 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Demand Propels Home Prices Upward 1 day ago Home / Daily Dose / FHA Updates Policies for In-Person Servicer/Borrower Contacts Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: Honoring Excellence Among Female Legal Minds Next: FHFA Announces New General Counsel Demand Propels Home Prices Upward 1 day ago in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 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. The Federal Housing Administration (FHA) Wednesday issued a series of “waivers of provisions” as part of its “Single-Family Housing Policy Handbook 4000.1,” which will allow important mortgage servicing activities to continue “in a manner that allows for safe social distancing,” according to a press release.FHA explains that in-person servicer-borrower contact (that includes seniors with FHA-insured HECM reverse mortgages) generally is required in order for certain processes to continue.”President Biden has made it clear that protecting the health, safety, and homeownership security of the nation’s most vulnerable populations, including seniors, are urgent and immediate priorities,” said Acting HUD Secretary Matthew Ammon. “The policy waivers issued today are another important step in addressing these priorities.”According to HUD, the waivers issued today build upon previous waivers and put in place the following provisions through December 31, 2021:Allowing alternative methods for servicers to conduct borrower interviews for FHA-insured forward and HECM mortgages when performing early default interventions for borrowers in danger of foreclosure;Waiving the $5,000 property charge payment arrearages cap on recalculated repayment plans, allowing servicers to help more HECM borrowers who are behind on their property charge payments; andEliminating the requirement for servicers to obtain a signature on an occupancy certification from a HECM borrower.”The waivers issued today augment FHA’s actions last week to execute on President Biden’s day-one request to provide urgent and immediate support to the nation’s homeowners struggling to make their mortgage payments due to COVID-19,” FHA reported. “To execute the President’s request, FHA extended its foreclosure and eviction moratorium for borrowers with FHA-insured single-family mortgages through March 31, 2021. FHA also extended the deadline for borrowers financially impacted by COVID-19 to request a new forbearance from their mortgage servicer through March 31, 2021.”FHA encourages borrowers with FHA-insured mortgages who can make their mortgage payments to continue to do so. Borrowers with FHA-insured mortgages seeking additional information on available options should visit FHA’s COVID-19 Resources for Homeowners web page on FHA.gov. Other borrowers are encouraged to visit the Consumer Financial Protection Bureau’s Coronavirus Mortgage and Housing Assistance web pages. About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago FHA Updates Policies for In-Person Servicer/Borrower Contacts February 3, 2021 1,753 Views last_img read more

Night work not an option in Milford – Mc Bride

first_img By News Highland – September 21, 2010 Night work not an option in Milford – Mc Bride Newsx Adverts Twitter Help sought in search for missing 27 year old in Letterkenny Twitter NPHET ‘positive’ on easing restrictions – Donnelly Calls for maternity restrictions to be lifted at LUH WhatsApp Pinterest Google+ Google+center_img Pinterest 448 new cases of Covid 19 reported today Previous articleHanafin promises to defend Derry Dublin air link at cabinet tableNext articleDirector expects LYIT dropout rate to fall further News Highland Facebook RELATED ARTICLESMORE FROM AUTHOR Facebook Three factors driving Donegal housing market – Robinson WhatsApp Business owners and traders in Milford have met with Donegal County Council and the contractor who is to begin improvement works on the town’s main street.It’s proposed to close part of Main Street for a month, but business leaders in the town are worried that the resultant disruption would damage some businesses beyond repair.One possible solution that was proposed was nightime working, but the meeting was told this is not an option.Cllr Noel McBride was at the meeting……..[podcast]http://www.highlandradio.com/wp-content/uploads/2010/09/noel830.mp3[/podcast] Guidelines for reopening of hospitality sector publishedlast_img read more

Siptu to host public meeting on health in Letterkenny

first_img Google+ Siptu to host public meeting on health in Letterkenny WhatsApp NPHET ‘positive’ on easing restrictions – Donnelly Twitter Calls for maternity restrictions to be lifted at LUH Pinterest Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published Twitter Google+ Facebookcenter_img Pinterest By News Highland – April 23, 2012 The future of Letterkenny General Hospital and the health service in Donegal is the subject of a public meeting being hosted by Siptu in the Mount Errigal Hotel this evening.The union says cutbacks in the hospital’s funding and the outsourcing of some services including the shop are causes for concern, as is the moratorium on recruitment.Health sector spokesperson Declan Ferry says tonight’s meeting, part of a national series of public rallies is intended to build up a picture of how HSE staff and members of the public want to shape health service provision in the county……….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/04/siptu1pm.mp3[/podcast] RELATED ARTICLESMORE FROM AUTHOR Help sought in search for missing 27 year old in Letterkenny Newsx Adverts Previous articleMc Conalogue urges parents not to use loan sharks for First Communion billsNext articleFears for the future of services at Cregg House in Sligo News Highland Facebook WhatsApp 448 new cases of Covid 19 reported today last_img read more