Black Knight: 1 in 10 Borrowers Underwater

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago Previous: DS News Webcast: Monday 5/5/2014 Next: Auction.com Welcomes New CFO About Author: Colin Robins The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Tagged with: Black Knight Financial Services Delinquency Rates Foreclosure Underwater Borrowers Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Black Knight Financial Services Delinquency Rates Foreclosure Underwater Borrowers 2014-05-05 Colin Robinscenter_img Black Knight: 1 in 10 Borrowers Underwater Data Provider Black Knight to Acquire Top of Mind 2 days ago In Black Knight Financial Services’ latest Mortgage Monitor Report, the company found that only one in ten Americans are underwater, down from one in three in 2010. Overall, the company’s look at March data reflected a shifting landscape. As home prices have risen over the past two years, many distressed loans have worked their way through the system and the percentage of Americans with negative equity has declined considerably.The company noted that 55 percent of loans in foreclosure have been delinquent for over two years.”Two years of relatively consecutive home price increases and a general decline in the number of distressed loans have contributed to a decreasing number of underwater borrowers,” said Kostya Gradushy, Black Knight’s manager of Loan Data and Customer Analytics.”Looking at current combined loan-to-value (CLTV), we see that while four years ago 34 percent of borrowers were in negative equity positions, today that number has dropped to just about 10 percent of active mortgage loans,” Gradushy said.Gradushy references the 10.1 percent negative equity average, but what states homeowners reside in paint a clearer picture of negative equity across the spectrum. Judicial states have a higher negative equity rate at 13.4 percent, compared to the 7.9 percent rate experienced in non-judicial states.Regardless, Gradushy notes that both judicial and non-judicial states have experienced declines. “Overall, nearly half of all borrowers today are both in positive equity positions and of strong credit quality—credit scores of 700 or above. Four years ago, that category of borrowers represented over a third of active mortgages,” Gradushy said.Loans, on average, are in foreclosure for 966 days.The total delinquency rate is 5.37 percent, the lowest since October 2007 according to Black Knight. Month-over-month, delinquency rates have declined to 7.57 percent and are down yearly 16.29 percent in March.The total U.S. foreclosure pre-sale inventory stands at 2.07 percent, the lowest figure since October 2008. Inventory rates are down 36.69 percent year-over-year.Black Knight had more positive news in its Mortage Monitor Report: leading indicators, such as foreclosure starts, new problem loan percentage, 90-day defaults count, and 30 to 60 roll count are all down heading into the second quarter.The company offered that the 2013 population of loans was “the best vintage on record,” but the statement belies the fact that higher credit restrictions severely hampered new originations for lower credit borrowers.The top five states with the highest total non-current loans were Mississippi (13.4 percent), New Jersey (12.9 percent), Florida (12.1 percent), New York (11.1 percent), and Maine (10.6 percent).Excluding Mississippi, the remaining four states are judicial states, suggesting the longer timelines required to resolve foreclosures are impacting non-current loan rates, depressing the market’s ability to quickly clear the remaining backlog in foreclosure pipeline. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Colin Robins is the online editor for DSNews.com. He holds a Bachelor of Arts from Texas A&M University and a Master of Arts from the University of Texas, Dallas. Additionally, he contributes to the MReport, DS News’ sister site. in Daily Dose, Featured, Headlines, Market Studies, News May 5, 2014 617 Views Home / Daily Dose / Black Knight: 1 in 10 Borrowers Underwater Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Housing Market Growth Looks Strong

first_img July 23, 2018 1,847 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Housing Market Growth Looks Strong Share 1Save Related Articles Tagged with: Freddie Mac Home Home Sales HOUSING Inventory loans mortgage origination Supply Sign up for DS News Daily Freddie Mac Home Home Sales HOUSING Inventory loans mortgage origination Supply 2018-07-23 Radhika Ojha  Print This Post The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Scott Morgan Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Housing Market Growth Looks Strong Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: The Week Ahead: Spotlight on Disaster Preparedness Next: The Cost of Rental Scams Conditions in the country’s low-supply market could slightly improve by the end of the year according to Freddie Mac’s July Forecast released on Monday. The forecast projects new home construction will alleviate some of the current supply shortage, which in turn will increase sales 2.5 percent. That would bring the total to 6.27 million units, counting new and existing homes.Meanwhile, Freddie also expects home prices to grow 6.7 percent.“In most of the country, the healthy U.S. economy and robust labor market fueled considerable interest in buying a home during the busy spring buying season,” the report indicated. At the same time, strengthening demand did not create a boost in sales activity. Listings, the report stated, were scant, while home price growth remained swift and higher mortgage rates squeezed the budget of many would-be buyers.“Home sales have mostly moved sideways for much of the year, but given the sizable demand for buying in most markets, there’s hope for a small breakout in the months ahead,” said Sam Khater Freddie Mac’s chief economist. “Mortgage rates have stabilized in recent months, and in some high-cost markets, price appreciation is showing some signs of easing. If new and existing housing supply can increase meaningfully, sales will follow.”Elsewhere in the report, Freddie found July’s mortgage rates had fallen off as an offshoot of declining long-term Treasury yields. The effect has been behind ongoing investor anxiety surrounding the potential of a long-term global trade war. The 30-year fixed-rate mortgage is forecast to average 4.6 percent this year.Total single-family first-lien mortgage originations are expected to slide around 7 percent this year to $1.69 trillion, driven by decreased refinance activity due to higher borrowing costs, the report indicated, while Freddie expects Gross Domestic Product growth to be 3.4 percent in the second quarter and 2.7 percent for the year. In the meantime, Freddie reported, the U.S. labor market is robust, “which in turn is bringing more people into the workforce, increasing wages and spurring consumer spending and business investment.” Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. last_img read more

Deputy Assistant Secretary Gisele Roget Leaves HUD

first_img Tagged with: HUD November 11, 2019 1,721 Views Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, News Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Deputy Assistant Secretary Gisele Roget Leaves HUD Servicers Navigate the Post-Pandemic World 2 days ago About Author: Seth Welborn 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  Print This Postcenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe HUD 2019-11-11 Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Deputy Assistant Secretary Gisele Roget Leaves HUD Related Articles Previous: Down Payment Assistance Program’s Impact on Loan Performance Next: Flagstar SVP: Low Volume “Tension” Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Deputy Assistant Secretary (DAS) for Single Family Housing Gisele Roget announced her departure from the Department of Housing and Urban Development effective Friday, November 8, to take over as Deputy Chief of Staff and Director of External Relations at the National Credit Union Administration.In this position, Gisele Roget will serve as Deputy Chief of Staff. In this role, she will also oversee the Office of External Affairs and Communications and lead the agency’s communications and congressional affairs initiatives.“I’m honored by this appointment,” Roget said. “I’m eager to support the important initiatives undertaken by Chairman [Rodney] Hood to ensure the regulation of our nation’s credit unions is effective, not excessive.”Previously, Roget held senior roles in the Global Government Relations division of MetLife. She also served on the professional staff on the Financial Services Committee in the U.S. House of Representatives from 2007 to 2014.During her tenure in the Financial Services Committee, Roget worked on the development of financial services legislation, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Housing and Economic Recovery Act of 2008.Roget, a political appointee who joined HUD in July 2017, was directly responsible for managing the Home Equity Conversion Mortgage program.Roget sent an email to her colleagues at FHA last week thanking them for their efforts in making significant changes to credit and origination policy for both the forward and reverse mortgage programs.”Thank you to all my dedicated FHA staff for the hard work over the years serving FHA’s borrowers,” said Roget in an update on LinkedIn. “Since July 2017, we have made significant changes to credit and origination policy for both the forward and reverse mortgage programs. We made substantive revisions to FHA’s annual lender certifications, loan certifications and Defect Taxonomy. We have finalized the long-awaited Condominium Final Rule. Single Family Housing has also re-vamped loss mitigation policy for natural disasters. Thank you!” Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more