Delinquencies Rebound from January’s Spike

first_img Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Tagged with: Black Knight Financial Services First Look at Mortgage Data Foreclosures Mortgage Delinquencies Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Delinquencies Rebound from January’s Spike Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Share Save in Daily Dose, Featured, News Subscribe Previous: Is Regulation Hurting the Affordability of Housing? Next: Deciphering TRID Through Communication Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Black Knight Financial Services First Look at Mortgage Data Foreclosures Mortgage Delinquencies 2016-03-23 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 23, 2016 1,433 Views Just one month after experiencing a substantial spike, the number of 30-day delinquencies normalized in February, according to Black Knight’s “First Look” at Mortgage Data for February 2016 released Wednesday.Delinquencies, defined as mortgage loans 30 days or more overdue but not in foreclosure, fell by 13 percent over-the-month and by 16 percent over-the-year in February as the nationwide delinquency rate (4.45 percent) fell to its lowest level since April 2007.This decline came just one month after delinquencies rose by 6.6 over-the-month in January up to 5.09 percent, the first time the delinquency rate has been over 5 percent in 11 months. That increase represented about 167,000 properties. February’s over-the-month decline represented about 323,000 properties, down to approximately 2.25 million.Why did delinquencies reverse their field in February after hitting an 11-month high in January?“There are few factors contributing to February’s rebound in mortgage delinquencies,” said Ben Graboske, SVP of Black Knight Data and Analytics. “The first is calendar based: We typically see strong recovery in the months following Sunday month ends, and the payments that weren’t able to be processed in the last two calendar days of January were processed in early February. Secondly, we’re approaching the historical seasonal low for delinquencies in March. Finally, recent vintages continue to show strong performance, while we also see ongoing improvement in new troubled loan volumes from crisis vintages.”The number of properties in pre-sale foreclosure inventory declined by nearly 25 percent over-the-year in February, down to 655,000. The total non-current inventory (all mortgages 30 days or more overdue, including those in foreclosure) fell by about 327,000 over-the-year down to 2.9 million—the first time in more than eight years it has been below 3 million. Only two states, California and North Dakota, have seen their non-current inventories increase over the past six months.Foreclosure starts were another story, however. The number of foreclosures started in February totaled 84,300, which was a 17 percent increase from January and a 9 percent increase over-the-year. The monthly increase was driven by a large number of repeat foreclosures in New York, New Jersey, and Massachusetts, according to Black Knight.Click here to view the entire First Look at Mortgage Data for February 2016. About Author: Brian Honea Home / Daily Dose / Delinquencies Rebound from January’s Spike 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. Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more

Banks Report Solid Mortgage Activity in Q2

first_imgSubscribe Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Sign up for DS News Daily Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Previous: A Tale of Two Recoveries: How Will Changes to DASP Effect Homebuyers? Next: The Week Ahead: Existing-Home Sales Look to Repeat Tagged with: Banks Citi Earnings PNC Profits U.S. Bank Wells Fargo Servicers Navigate the Post-Pandemic World 2 days ago Banks Report Solid Mortgage Activity in Q2 Servicers Navigate the Post-Pandemic World 2 days agocenter_img Wells Fargo, U.S. Bancorp, and PNC Financial Services Group all continued what JPMorgan Chase started, reporting increased mortgage activity for the second quarter of 2016 as demand for mortgage loans rises and underwriting standards slowly ease, according to the banks’ Q2 earnings reports released Friday.On the other hand, Citigroup, which also released its Q2 earnings statement on Friday, reported continued reduction in its mortgage portfolio as well as overall net income.Wells Fargo reported a slight decline in net income year-over-year in Q2 (from $5.7 billion down to $5.6 billion, of $1.01 per share) but did report an uptick in net income from Q1 ($5.5 billion) and a 4 percent increase in revenue up to $22.2 billion. Though overall mortgage banking revenue was down, residential mortgage loan originations increased by 43 percent over-the-quarter, up to $63 billion. Residential mortgage applications shot up over-the-quarter from $77 billion up to $95 billion in Q2, and total loans were up by 1 percent over-the-quarter to $957.2 billion, partially driven by the growth in single-family first mortgage loans. The rise in first mortgages can be attributed to the launch of Wells Fargo’s Your First Mortgage during the quarter to help more first-time buyers and low- to moderate-income families achieve sustainable homeownership.“Wells Fargo’s second quarter results demonstrated our ability to generate consistent performance during periods of economic, capital markets and interest rate uncertainty,” Chairman and CEO John Stumpf said. “Compared with a year ago, we had solid growth in loans, deposits and customers, which are our fundamental drivers of long-term value. We also improved our efficiency ratio while continuing to reinvest in the franchise. We returned more capital to our shareholders in the quarter and were pleased to have received a non-objection to our 2016 Capital Plan from the Federal Reserve. We remain well positioned to continue to meet the financial needs of our customers.”U.S. Bancorp reported records for both net income ($1.52 billion) and earnings per share ($0.83). Residential mortgage originations jumped to $55.5 billion, an increase of 2.4 percent over-the-quarter and 8.6 percent over-the-year. The bank’s Q2 mortgage banking revenue in Q2 was $238 million, which was an increase of 27 percent over-the-quarter and 3 percent over-the-year. Also, the Fed did not object to U.S. Bancorp’s capital plan as part of the annual stress testing released in June.“U.S. Bancorp reported strong second quarter results, delivering record revenue and net income in an economy that continues to be challenged by global concerns and low interest rates,” said U.S. Bancorp Chairman and CEO Richard K. Davis. “Despite these economic headwinds we continued to effectively execute on our strategy to be the most trusted choice and to unify the customer experience. The second quarter was a record quarter for us as we once again delivered industry-leading returns, steady loan growth and strength in our fee-based businesses. Steady loan growth, demonstrated by continued strength in commercial loans and momentum in consumer loans, led to increased net interest income despite a decline in net interest margin.”“We had a good second quarter against a backdrop of global uncertainty.”William S. Demchak, chairman, president, and CEO of PNCPNC Financial Services Group’s net income for Q2 was $989 million, up from $943 million in the first quarter but down from $1.04 billion from Q2 of 2015. Residential mortgage banking net income accounted for about $43 million of Q2’s net income, more than double the total from Q2 2015 ($19 million). Residential mortgage banking noninterest income increased by $65 million over-the-quarter and by $1 million over-the-year in Q2 up to $165 million, driven by net hedging gains on mortgage servicing rights of $35 million. U.S. Bancorp passed the Fed’s stress tests, the results of which were released in June.“We had a good second quarter against a backdrop of global uncertainty,” said William S. Demchak, chairman, president, and CEO of PNC. “We grew fee income, along with average loans and deposits, and we announced plans to return additional capital to our shareholders in the coming year. In the wake of the Brexit vote, as lower interest rates weigh on future performance, we remain focused on executing against our strategic priorities to create long-term shareholder value without compromising our risk profile or balance sheet.”Citigroup, however, was not as lucky as the other three, posting a net income of $4 billion in Q2—down from $4.8 billion in the same quarter a year earlier, a 14 percent decline. According to Citi, the decline in net earnings was driven by lower revenues and a higher effective tax rate, partially offset by lower cost of credit and lower operating expenses.Citigroup’s loans totaled $634 billion as of the end of Q2, which was unchanged over-the-year. According to the bank, the 6 percent growth in Citicorp loans was offset by continued declines in Citi Holdings—which was driven mostly by continued reductions in the bank’s North America mortgage portfolio. The Fed did not object to Wells Fargo’s capital plan in the stress testing.“These results demonstrate our ability to generate solid earnings in a challenging and volatile environment, again highlighting the resilience of our institution. Nearly all of our net income came from our core businesses and we continued to reduce non-core assets in Citi Holdings,” said Michael Corbat, CEO of Citi. “We significantly improved our efficiency ratio, return on assets and return on tangible common equity from the first quarter. We also grew loans in both our consumer and institutional businesses, reduced expenses, and utilized additional deferred tax assets, bringing the total utilized to $10 billion over the last four years. This utilization fuels our ability to generate regulatory capital and, with the Fed’s non-objection to our capital plan, I am pleased that we will significantly increase the amount of capital returned to our shareholders over the next year.”Click here for Wells Fargo’s Q2 earnings report.Click here for U.S. Bancorp’s Q2 earnings report.Click here for PNC’s Q2 earnings report.Click here for Citigroup’s Q2 earnings report. Share Save Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Banks Citi Earnings PNC Profits U.S. Bank Wells Fargo 2016-07-15 Brian Honea The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Banks Report Solid Mortgage Activity in Q2  Print This Post July 15, 2016 1,272 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, News Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

The Week Ahead: Interview with NAR CEO

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Week Ahead: Interview with NAR CEO The Week Ahead: Interview with NAR CEO August 13, 2017 1,285 Views The Best Markets For Residential Property Investors 2 days ago The National Association of Realtors (NAR) recently announced their new CEO, Bob Goldberg. Goldberg dons over 30 years of real estate experience and has been a part of many of NAR’s forward-looking major initiatives. For the first time, he will be participating in a live interview to answer questions that are on the tops of industry professional minds.Goldberg served as a senior executive from 1995-2017, leading three NAR divisions and four subsidiary titles. In his new position, which hasn’t had new leadership in 36 years, he will draw on his marketing expertise as well as business development, mergers and acquisitions, revenue generation, product lifecycle management, and professional development.Prior to NAR, Goldberg served as SVP with PRC Realty Systems, the nation’s leading provider of online multiple listing systems.To submit questions, post on Facebook, Twitter, or LinkedIn with hashtag #AskBobNAR.RealScout will hold the interview on Tuesday, August 15 at 3 p.m. EST. To attend the Facebook Live event, register here.Other Events in the Week Ahead: Housing Market Index, Monday 10 a.m. EDTHousing Starts, Wednesday 8:30 a.m. EDTFreddie Mac Weekly Mortgage Survey, Thursday 10 a.m. EDT in Daily Dose, Featured, Government, News Share Save Demand Propels Home Prices Upward 2 days ago About Author: Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago Previous: Black Knight Expands Home Price Index Next: Another Decision by Semantics Servicers Navigate the Post-Pandemic World 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] center_img Demand Propels Home Prices Upward 2 days ago Tagged with: the week ahead Related Articles Data Provider Black Knight to Acquire Top of Mind 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily the week ahead 2017-08-13 Brianna Gilpin Subscribelast_img read more

Continuing Hurricane Season Devastating U.S. Housing Market

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Continuing Hurricane Season Devastating U.S. Housing Market Demand Propels Home Prices Upward 2 days ago About Author: Joey Pizzolato Share Save Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Related Articles Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2017-09-21 Joey Pizzolato Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: National Foreclosure Rate Remains Stagnant Next: Altisource Welcomes New VP, Head of Valuations Home / Daily Dose / Continuing Hurricane Season Devastating U.S. Housing Market in Daily Dose, Featured, Headlines, News Hurricane Maria, the third hurricane to make landfall on U.S. territory, has ravaged Puerto Rico, leaving 21 out of 22 total weather stations without power, along with most of the island’s residents, according to a report by PBS. The storm’s intensity has been attributed to a low pressure system in the area, as well as a shallow storm center. See the full extent of the damage in this Video Spotlight. September 21, 2017 1,018 Views Subscribelast_img read more

Loan Defects Up Since 2017

first_img Demand Propels Home Prices Upward 2 days ago About Author: David Wharton Related Articles Loan Defects Up Since 2017 Previous: Strengthening the Industry Through Diversity and Inclusion Next: Citizens Bank Adds 200K Households to its Servicing Portfolio The frequency of loan defects, fraud, and misrepresentation in the information submitted in mortgage loan applications remained flat in April 2018, but increased slightly over April 2017. That’s according to the latest release of the Loan Application Defect Index, published Wednesday by First American.As explained in the release, First American’s Loan Application Defect Index (LADI) “reflects estimated mortgage loan defect rates over time, by geography and loan type.” The LADI held steady between March and April 2018, but increased slightly year-over-year (YOY), rising by 1.2 percent.The Defect Index for refinance transactions increased by 1.4 percent over March 2018, and was up 7.6 percent year-over-year. The Defect Index for purchase transactions, however, decreased by 2.2 percent month-over-month and increased 2.2 percent year-over-year.For a bit of longer-term perspective, the Defect Index peaked in October 2013—since then, it has decreased by 19.6 percent.The five states demonstrating the greatest YOY increase in loan defects are Arkansas (+16.7 percent), Wyoming (+13.5 percent), New Mexico (+13.0 percent), Virginia (+12.2 percent), and Maryland (+10.8 percent). On the other end of the spectrum, South Carolina featured the greatest YOY decrease (-13.3 percent), followed by Louisiana (-12.9 percent), Minnesota (-10.6 percent), Alabama (-10.0 percent), and Vermont (-9.6 percent).The report also examines the long-term impact of the “ability-to-repay” rules implemented in 2014 on loan defects in the years since. In January 2014, a new set of “requirements for mortgage lenders to carefully assess a consumer’s ability to repay their mortgage loan” went into effect after having been introduced by the Consumer Financial Protection Bureau.“Since the ability-to-repay rules were issued, there has been a precipitous and significant decline in income-specific mortgage loan application misrepresentation, defect, and fraud risk,” said Mark Fleming, Chief Economist for First American. “In fact, our income-specific metric within the Loan Application Defect Index reached its peak in December 2012, one month before the rules were issued. By September 2013, nine months later, the income-specific defect risk metric declined 33 percent, as lenders implemented new loan manufacturing and underwriting practices in preparation for the effective start of rule in January 2014. Since then, income-specific defect and fraud risk has continued to decline and is currently 70 percent below its peak prior to publication of the ability-to-repay rules.”You can lean more about First American’s Loan Application Defect Index by clicking here. Defect First American Loan Application Defect Index Loan Applications Loan Defects Mortgage Loans 2018-05-30 David Wharton David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] in Daily Dose, Featured, Journal, Market Studies, News, Servicing Tagged with: Defect First American Loan Application Defect Index Loan Applications Loan Defects Mortgage Loans  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago May 30, 2018 1,794 Views Share Savecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Loan Defects Up Since 2017 Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago 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 agolast_img read more

Ten Years of Transformation

first_img Freddie Mac has come a long way from the time it was taken under conservatorship in 2008 and reported a strong and stable third quarter during its earnings announcement on Wednesday. The government-sponsored enterprise (GSE) which completed 10 years under conservatorship this year, reported a comprehensive income of $2.6 billion driven primarily by “stable business revenues and strong credit quality.” This included a $0.2 billion (after-tax) net benefit from single-family legacy asset dispositions and a $0.2 billion (after-tax) benefit from reducing the write-down of the net deferred tax asset from the tax reform legislation last year.Freddie Mac said that it would also fulfill its $2.6 billion dividend requirement to the U.S. Treasury in December and that it had made cumulative payments totaling $114 billion to the Treasury to date.“The third quarter marked another very good quarter for Freddie Mac, with comprehensive income of $2.6 billion. This continues our growing quarterly track record of producing stable and strong earnings, all while responsibly supporting the company’s mission and reducing taxpayer exposure to our risks,” said Donald Layton, CEO, Freddie Mac. “As we look back on our 10 years in conservatorship, these results make clear that Freddie Mac is a transformed company that plays a key role in reforming and improving America’s housing finance system.”The GSE also reported strong business fundamentals that helped it to grow during the quarter. Its total guarantee portfolio grew 6 percent to $2.1 trillion while its single-family total originations decreased 6 percent to $231 billion. Though its refinance volume decreased 30 percent, Freddie Mac reported a 12 percent increase in its purchase volume.Single-family serious delinquency rates decreased to their lowest levels in a decade during the quarter to 0.73 percent, the GSE said, implying strong credit quality. Its single-family credit guarantee portfolio increased from the prior quarter to $1,875 billion.In the single-family market, Freddie Mac further reduced taxpayer exposure to credit risk by reducing its conservatorship capital framework (CCF) capital needed for credit risk by around 60 percent through credit risk transfer (CRT) transactions during the year. It recently introduced an enhanced CRT structure designed to reduce CCF capital needed for credit risk by approximately 80 percent on related new originations.Freddie Mac said that its total CCF capital declined $7.1 billion, or 12 percent, from the prior year quarter “reflecting house price growth plus management actions, such as disposing of legacy assets and transferring credit risk.”During the year, Freddie Mac said that it expanded opportunities for U.S. homebuyers and renters by providing around $286 billion in liquidity to the mortgage market, funding more than 992,000 single-family homes and around 551,000 multifamily rental units.Breaking down the demographics for its products, the GSE said that first-time homebuyers represented more than 46 percent of new purchase loans, while 94 percent of the eligible multifamily rental units financed were affordable to families earning at or below 120 percent of area median incomes. Subscribe About Author: Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago October 31, 2018 1,729 Views Demand Propels Home Prices Upward 2 days ago Earnings Freddie Mac Homes HOUSING loans mortgage Refinance SIngle-family 2018-10-31 Radhika Ojha  Print This Post Previous: Scaring Up Home Values Next: Parental Opportunities Home / Daily Dose / Ten Years of Transformation 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Tagged with: Earnings Freddie Mac Homes HOUSING loans mortgage Refinance SIngle-family Ten Years of Transformation Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News, Secondary Market 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. last_img read more

Shedding Light on Reconstruction Costs

first_img The 2018 Camp and Woolsey Wildfires in California caused devastating losses between $15 and $19 billion, according to a CoreLogic Natural Hazard Press Release. In a blog titled “Explaining to Homeowners Reconstruction Costs Versus Other Valuations,” Guy Kopperud, Principal of Industry Solutions at CoreLogic discussed several aspects of reconstruction costs vs. other valuations in the wake of damage caused by recent natural disasters. Kopperud noted that natural hazards such as wildfires have forced insurance carriers to reevaluate the need for more accurate insurance coverage to better protect their policyholders if a natural disaster should destroy their property. Speaking of the consequences of underinsurance, he said that it can “affect the mortgage industry as well.” “Many times, if a homeowner doesn’t have enough insurance coverage to rebuild, they simply walk away from their mortgages,” he added. The effects of natural disasters were evident in CoreLogic’s data on delinquency, wherein the areas affected by natural disasters have seen an increase in delinquency rates while other parts of the country are experiencing a steady decline, he noted.While the focus of insurance and mortgage industries is largely on making Insurance to Values more accurate, Kopperud emphasized that property insurance agents and carriers often receive questions from homeowners who lack clarity on reconstruction cost values and market or appraisal values. Property owners ask three most common questions after receiving a quote from their agent, says Kopperud. One of them pertains to why their homeowner’s insurance coverage is more than what the home is worth. “Many homeowners assume the cost to rebuild a property should be equal to what they paid for the property. However, insurers determine reconstruction cost values (RCVs) using sophisticated residential estimating tools that deliver RCVs at today’s prices,” he said. Answering the aforementioned query, Kopperud explains, “the reconstruction cost value is the cost to replace or rebuild a home to original or like standards at current material and labor costs within a certain geographical area. Meanwhile, a home’s market value is the price a consumer is willing to pay for the home.”Addressing questions about why the reconstruction cost value is higher than what was initially paid for the home, Kopperud said that “CoreLogic research has shown that reconstruction cost values average close to 12 percent more than new construction costs. This is because newly constructed communities can benefit from material discounts and labor efficiencies that a contractor rebuilding a home does not have.”To those homeowners who inquire about using the appraised or assessed value to determine their insurance coverage limits, he indicated that Replacement Cost New (RCN)—a term generally used by the assessor and appraisal industry—is not recommended to determine the cost to rebuild a home. He further explains that this is because RCN is based on the cost to build, at one time, an entire building of equal utility, quality, features, and finishes with neither the contractor nor property owner being under duress to have it done in a shorter time frame. 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] Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Loss Mitigation, Market Studies, News, Servicing February 6, 2019 3,642 Views 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 Sign up for DS News Daily Home / Daily Dose / Shedding Light on Reconstruction Costs Data Provider Black Knight to Acquire Top of Mind 2 days ago Camp Fire CoreLogic Delinquencies Guy Kopperud Insurance Coverage Natural Disasters Reconstruction Costs Woolsey Fires 2019-02-06 Donna Joseph Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Previous: How Aging in Place Is Restricting Young Homebuyers Next: Working in the Clouds Subscribe Demand Propels Home Prices Upward 2 days ago Related Articles Share Save The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Donna Joseph Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Shedding Light on Reconstruction Costs Tagged with: Camp Fire CoreLogic Delinquencies Guy Kopperud Insurance Coverage Natural Disasters Reconstruction Costs Woolsey Fires  Print This Postlast_img read more

DS5: Single-Family Rental Investments Now and in 2021

first_img DS5: Single-Family Rental Investments Now and in 2021 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Subscribe 2020-10-12 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: The Week Ahead: Mark Calabria Providing FHA Industry Update Next: Latinx Homeownership Faces ‘Roadblocks’ The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Media, News, Webcasts Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Best Markets For Residential Property Investors 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. Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Christina Hughes Babb This week’s DS5 installment features Jeffrey Tesch, CEO of RCN Capital, who discussed single-family rental (SFR) investing now and in the year to come.He tells DS5 that prior to the COVID-19 crisis, the market for SFR investing already was experiencing “unprecedented demand” all across the U.S.”We had the best January and February we’d ever had,” he said. “There almost was a pause across the entire real estate sector … but by April it was clear the demand for single family housing, especially from the rental sector, was unabated.”Tesch went on to acknowledge the role of GSEs in assisting borrowers and speculate on market conditions in the coming months. That, he said, will be dictated by how quickly homeowners who have experienced distress can get back to work.”View the entire interview below. October 12, 2020 1,383 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / DS5: Single-Family Rental Investments Now and in 2021last_img read more

Durkan presses case for North West Enterprise Zone at Westminister

first_imgNews Previous article‘Eastenders’ newcomer Reid becomes latest actor to play Bad Boy BenNext articleCalls for army to assist gardai as criminals strike again in east Donegal News Highland Foyle MP Mark Durkan has again urged Northern Secretary Theresa Villiers to work with the Irish government and the Executive to establish a new North West Enterprise Zone which would boost investment, promote growth and create jobs in Derry and Donegal.Speaking during this week’s Northern Ireland Questions at Westminster, Mr Durkan called for a cross-border zone which would help optimise the potential of Project Kelvin.He says his discussions with Ms Villiers in the House of Commons and with Finance Minister George Osbourne at the Treasury Offices in Whitehall suggest the British Government is open to the idea.Mr Durkan says the designation of a pilot enterprise zone in Coleraine while excluding Derry and Donegal was a mistake…………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/07/mdurkenterprise.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Calls for maternity restrictions to be lifted at LUH RELATED ARTICLESMORE FROM AUTHOR Facebook Google+ Help sought in search for missing 27 year old in Letterkenny NPHET ‘positive’ on easing restrictions – Donnelly Pinterest Durkan presses case for North West Enterprise Zone at Westminister 448 new cases of Covid 19 reported today center_img Twitter Guidelines for reopening of hospitality sector published Google+ WhatsApp Twitter Three factors driving Donegal housing market – Robinson By News Highland – July 18, 2014 Facebook Pinterest WhatsApplast_img read more

Paediatric Diabetic Service to be maintained in Letterkenny

first_img Twitter Calls for maternity restrictions to be lifted at LUH The government says there are no plans to remove or downgrade the existing Paediatric Diabetic Service at Letterkenny General Hospital.Senator O’Domhnaill raised the issue in the Seanad, and was told by Junior Health Minister Roisin Shorthall that specialist nurses are already in place in Letterkenny and a Specialist Consultant is due to start at the hospital next month.Senator O’Domhnaill says he raised the issue after a meeting in Donegal last weekend with the parents of children with diabetes, and they will welcome these assurances:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/12/bod830diab.mp3[/podcast] Google+ Pinterest By News Highland – December 15, 2011 WhatsApp Previous articleLetterkenny Town Council look at options to remove ESB cablesNext articleEircom says every effort is being made to return phone services News Highland Twitter Guidelines for reopening of hospitality sector published Facebook WhatsAppcenter_img Google+ Help sought in search for missing 27 year old in Letterkenny Facebook Newsx Adverts 448 new cases of Covid 19 reported today RELATED ARTICLESMORE FROM AUTHOR Paediatric Diabetic Service to be maintained in Letterkenny Three factors driving Donegal housing market – Robinson NPHET ‘positive’ on easing restrictions – Donnelly Pinterestlast_img read more