Monthly Archives: May 2021

DS News Webcast: Thursday 2/27/2014

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Home prices rose 7.7% year-over-year in the fourth quarter, according to the Federal Housing Finance Agency House Price Index. The index calculates home prices among mortgages held by Fannie Mae and Freddie Mac. On a quarterly basis, prices rose 1.2%, marking the tenth consecutive quarter of price increases. Seasonally adjusted monthly prices rose 0.8% in December according to the agency’s index.The FHFA reported a total of 38 states with rising home prices in the fourth quarter, a significant showing but fewer than the 48 states from the previous quarter. States with the highest home price increase percentage include Nevada, California, Arizona, Oregon, and Florida. Among the 100 metros with the highest populations in the United States, those with the highest price appreciation over the year were largely based in the West, according to FHFA’s all-transaction index. 15 of the top 20 metros are located in California alone.According to a report issued by the National Association of Home Builders, the average size of a new home has increased from 2,362 square feet in 2009 to 2,679 square feet in 2013. More qualified buyers with higher credit scores and more income are spurring demand for larger homes. The spread between the average Experian credit score of all U.S. consumers and the average home borrower’s score has gone up from 33 points in the early 2000’s to 58 points in 2013. The median income of new-home buyers has steadily climbed from $91,768 in 2005 to $107,607 in 2011.  Print This Post in Featured, Media, Webcasts Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2014-02-27 DSNews Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Las Vegas Mirrors National Home Price Slowdown Next: CFPB Director Calls for Increased Financial Literacy About Author: DSNews Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago February 27, 2014 471 Views The Best Markets For Residential Property Investors 2 days ago DS News Webcast: Thursday 2/27/2014 Related Articles The Best Markets For Residential Property Investors 2 days ago Home / Featured / DS News Webcast: Thursday 2/27/2014 Sign up for DS News Daily Subscribelast_img read more

312,000 Properties Regain Equity in Q1 2014

first_img Related Articles The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Headlines, Market Studies, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 5, 2014 1,264 Views CoreLogic Negative Equity Underwater Homes 2014-06-05 Colin Robins Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: First Lady, VA Pledge to End Veteran Homelessness Next: NAHB Index: More Metros Return to Normal Housing Activity Home / Daily Dose / 312,000 Properties Regain Equity in Q1 2014 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. About Author: Colin Robins Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img 312,000 Properties Regain Equity in Q1 2014 Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: CoreLogic Negative Equity Underwater Homes CoreLogic released an analysis of residential properties in the first quarter of 2014, focusing specifically on homes with negative equity. The company found that more than 300,000 homes returned to positive equity in the quarter, bringing the total number of mortgaged residential properties with equity to more than 43 million.Negative equity, more commonly known as a home being “underwater,” means borrowers owe more on their mortgage than their homes are worth. The company cites declines in value, an increase in mortgage debt, or some combination of the two as factors leading to a home having negative equity.The company’s analysis found that roughly 6.3 million properties, or 12.7 percent of all residential properties with a mortgage, had negative equity as of Q1 2014. The first quarter of 2014 saw a decline from the fourth quarter of 2013, when 6.6 million homes had negative equity, or 13.4 percent.Year-over-year, negative equity properties have declined 20.2 percent from 9.8 million in 2013 to 6.3 million in Q1 2014.Underwater homes have a national aggregate value of negative equity of $383.7 billion at the end of the quarter, according to CoreLogic. Negative equity is down $16.9 billion from roughly $400 billion in the fourth quarter of 2013.”Despite the massive improvement in prices and reduction in negative equity over the last few years, many borrowers still lack sufficient equity to move and purchase a home,” said Sam Khater, deputy chief economist for CoreLogic. “One in five borrowers have less than 10 percent equity in their property, which is not enough to cover the down payment and additional costs associated with a conventional mortgage.”The company commented that of the 43 million residential properties with equity, roughly 10 million have less than 20 percent equity. Homes in this particular situation may have a more difficult time refinancing or obtaining new financing to sell and buy another home due to tougher underwriting standards.”Prices continue to rise across most of the country and significantly fewer borrowers are underwater today compared to last year,” said Anand Nallathambi, president and CEO of CoreLogic. “An additional rise in home prices of 5 percent, which we are projecting will occur over the next 12 months, will lift another 1.2 million properties out of the negative equity trap.”Nevada had the highest percentage of mortgaged properties in negative equity at 29.4 percent, followed by Florida (26.9 percent), Mississippi (20.1 percent), Arizona (20.1 percent) and Illinois (19.7 percent). These top five states combined account for 31.1 percent of negative equity in the United States.Texas had the highest percentage of mortgaged residential properties in an equity position at 96.7 percent, followed by Montana (96.3 percent), Alaska (95.7 percent), North Dakota (95.7 percent) and Hawaii (95.6 percent).The company found that the bulk of home equity for mortgage properties is concentrated at the high end of the housing market. CoreLogic noted that 93 percent of homes valued at greater than $200,000 have equity compared to 82 percent of homes valued at less than $200,000. Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Subscribelast_img read more

Freddie Mac Transfers More Credit Risk With $1 Billion STACR Offering

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Freddie Mac has announced its intention to sell more than $1 billion worth of notes in its latest Structured Agency Credit Risk (STACR) offering, according to an announcement from the GSE.The latest STACR offering, STACR Series 2015-DNA3, is the seventh STACR debt notes offering this year of more than $1 billion by Freddie Mac. It is the 15th STACR offering since the program began slightly more than two years ago. Freddie Mac’s goal is to transfer a portion of its credit risk on single-family loans to private investors. Through the first 15 STACR offerings and 10 Agency Credit Insurance Structure (ACIS) transactions, Freddie Mac has laid off a substantial portion of credit risk on more than $330 billion in unpaid principal balance (UPB) for single-family mortgages, according to the announcement.Freddie Mac was the first agency to use STACR and ACIS to market credit risk transfer transactions; in just two years, the investor base has grown to include more than 170 unique investors, according to Freddie Mac.“For Freddie Mac, credit risk transfer is not a ‘pilot’ anymore. It is integrated into our entire business model,” Freddie Mac CEO Donald Layton said in a statement earlier this week. “Depending upon how you measure it, in Single-Family, we are selling off in the range of 2/3 or 3/4 of the non-catastrophic risk. Single-family risk transfer was zero a few years ago by comparison. Now it’s a fast-moving field. The instruments we use are growing and evolving. We’re also doing this with sound economics. It’s very exciting.”“For Freddie Mac, credit risk transfer is not a ‘pilot’ anymore. It is integrated into our entire business model.”—Donald LaytonSTACR Series 2015-DNA3 is Freddie Mac’s fourth STACR transaction in which losses are allocated based on actual losses realized on the related reference obligations instead of using a fixed severity approach to allocate losses. The latest STACR offering features a reference pool of single-family mortgages acquired by Freddie Mac from December 2014 through March 2015. The loans have an aggregate UPB of more than $34.7 billion. According to Freddie Mac, the Enterprise holds the senior loss risk in the reference pool and a portion of the risk for Class M-1, M-2, M-3, and the first loss Class B tranche. In mid-September, Freddie Mac expanded its STACR debt notes program with a high LTV offering that included loans with LTVs ranging from 80 to 95 percent. The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Cash Sales Share Drops to Nine-Year Low Next: HUD Extends Deadline for HECMs in Default Home / Daily Dose / Freddie Mac Transfers More Credit Risk With $1 Billion STACR Offering Demand Propels Home Prices Upward 2 days ago Related Articles Share Save Tagged with: Credit Risk Transfer Freddie Mac Single-Family Mortgage Loans Credit Risk Transfer Freddie Mac Single-Family Mortgage Loans 2015-10-23 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img 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 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. About Author: Brian Honea Subscribe in Daily Dose, Featured, News, Secondary Market October 23, 2015 5,282 Views  Print This Post Sign up for DS News Daily Freddie Mac Transfers More Credit Risk With $1 Billion STACR Offeringlast_img read more

FHFA Data Shows Decrease in Short Sales, Deeds-in-Lieu

first_imgSign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago October 11, 2017 1,635 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Market Update on SFR Activity Next: Wildfire Impact to Cost Billions in Housing Damages Home / Daily Dose / FHFA Data Shows Decrease in Short Sales, Deeds-in-Lieu Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Foreclosure, Headlines, News Tagged with: FHFA Foreclosure Prevention Related Articles The Federal Housing Finance Agency (FHFA) released its July Foreclosure Prevention Report Wednesday outlining its most recent data on foreclosure prevention, including permanent loan modifications. One of the more dramatic changes in foreclosure prevention activities occurred in home forfeiture actions. In July, 884 short sales and 339 deeds-in-lieu were completed, down 24 percent compared to June, at 1,115 and 503 respectively.Other foreclosure prevention actions utilized by the GSEs included retention strategies such as forbearance plans, repayment plans, and loan modifications. According to the report, there were 13,845 foreclosure prevention actions in July, bringing the total to 3,945,069 since the FHFA gained conservatorship in 2008. The report indicates permanent loan modifications decreased 1,368 month over month with 10,217 modifications in July.Borrowers who received permanent loan modification who were considered “seriously delinquent” dropped 4 percent from 81 percent to 71 percent in July.  The FHFA considers a borrower seriously delinquent when their loan is in the process of foreclosure plus loans that are three or more payments delinquent.The GSEs combined serious delinquency rate dropped to 0.94 percent from 0.95 percent, the lowest year-to-date. Third-party and foreclosures sales decreased 14 percent in July to 5,117, also the lowest YTD. Foreclosure starts declined 6 percent from 13,028 in June to 12,255 in July.When examining the reasons for delinquency, the FHFA cited curtailment of income, excessive obligation, unemployment, illness of principal mortgagor or family member, and marital difficulties as the top five reasons.As reported on Friday, The U.S. Department of Labor recently released its September 2017 Employment Situation, which was impacted by recent Hurricanes Harvey and Irma. “The Bureau of Labor Statistics noted that the number of workers who had a job but were not at work due to bad weather jumped to a two-decade high,” said First American Chief Economist Doug Duncan in reaction to the report. “The hurricane impact will dissipate over time, as we have observed during the aftermaths of previous major storms.”The full report can be viewed here. FHFA Foreclosure Prevention 2017-10-11 Dean Terrell About Author: Dean Terrell The Best Markets For Residential Property Investors 2 days ago Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe FHFA Data Shows Decrease in Short Sales, Deeds-in-Lieu Demand Propels Home Prices Upward 2 days agolast_img read more

Britain’s Barclays Returning to U.S. Mortgage-Backed Securities Market

first_img The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Britain’s Barclays Returning to U.S. Mortgage-Backed Securities Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago A decade after bonds tied to U.S. home loans contributed to the financial crisis, British investment bank and financial services company Barclays is returning to the residential mortgage-backed securities market, Reuters reports.Many banks retreated from selling and trading portions of loans tied to residential property, auto, or commercial real estate following the crisis. However, Reuters reports that Barclays, after assembling a team of more than 140 securitization bankers and traders, is preparing to re-enter the sector as investors are looking for higher returns on deals compared to traditional stocks and bonds. “This was a 500 million pound ($632.80 million) business for Barclays in terms of revenues last year, when global peers are making 1 billion pounds a year, so for us to get to 500 million pounds additional revenue over three years or 100-150 million pounds a year should be achievable at a measured pace,” said Stephen Dainton, Barclays’ Head of Global Markets.Barclays’ return is led by Scott Eichel, a securitized assets trader who experienced the troubles of the mortgage-backed securities market leading up to the 2008 crash. According to Reuters, Eichel has assembled a team of 144 bankers and traders who package and sell everything from commercial and residential home loans to more esoteric assets, such as media and sports franchise rights.  “The market has changed both outside and inside banks, both from a regulatory perspective and best practises inside firms,” Eichel said.The report states that Barclays’ comeback into the market does hold its risks, given that the bank paid $2 billion last year to settle a U.S. probe into its alleged mis-selling of mortgage-backed bonds that help trigger the crash. In a statement at the time, Barclays CEO Jes Staley called the terms of the settlement “fair and proportionate.”Barclays ranks sixth for sales of U.S. securitizations this year, which is up two places from last year. The bank is hopeful that signs of softening U.S. regulations underpinning the securitization industry could help consolidate and expand its market share, the report stated. A U.S. Treasury report in October 2017, prompted by an executive order from President Donald Trump, supported the stance that post-crisis regulation was too strict, according to the report.“The result has been to dampen the attractiveness of securitization, potentially cutting off or raising the cost of credit to thousands of corporate and retail consumers,” the report said. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Mike Albanese Subscribe  Print This Post Share Save 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. in Daily Dose, Featured, Government, News May 29, 2019 2,741 Views Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2008 Financial Crisis Barclays Financial Crisis Home Loans 2019-05-29 Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Britain’s Barclays Returning to U.S. Mortgage-Backed Securities Market Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: Where Housing Affordability Is Improving Next: CFPB Updates on Dodd-Frank, Qualified Mortgage Patch Related Articles Tagged with: 2008 Financial Crisis Barclays Financial Crisis Home Loanslast_img read more

Benefits of Updates to CWCOT Program

first_imgSubscribe Home / Daily Dose / Benefits of Updates to CWCOT Program Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago 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. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily  Print This Post in Daily Dose, Featured, Foreclosure, Government, News Previous: Non-compliant Properties Claim $1.4 Billion in Flood Damages Next: DS5: COVID-19’s Impact on Migration Patterns July 10, 2020 1,740 Views Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Benefits of Updates to CWCOT Program About Author: Mike Albanese Demand Propels Home Prices Upward 1 day ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 1 day ago Tagged with: cwcot Foreclosure Property Preservation In response to the Department of Housing and Urban Development’s (HUD) update to the CWCOT program, Auction.com said there are numerous advantages to the department’s updates.“We fully expect that the CWCOT changes outlined in the letter could take your combined CWCOT sales rate to over 90%,” said Jesse Roth, SVP, Strategic Partnerships and Business Development, Auction.com. Roth said the CWCOT updates allow property preservations companies to claim eviction and property preservation expenses, even the property is sold through the CWCOT.“This means you don’t have to wait to start the eviction process and vacate the property sooner,” Roth said.Roth added that if the property had an exterior appraisal, HUD will now allow a new interior appraisal once the property is vacant.He added that the new set of haircuts in the CWCOT updates “should significantly help move your properties through CWCOT.”The final benefit noted by Roth was that it allows individual auction providers to market and sell properties in foreclosures across all 50 states.The Federal Housing Administration (FHA) on Monday published Mortgagee Letter (ML) 2020-21, “Enhancements to FHA’s Claims Without Conveyance of Title (CWCOT) Procedures.”According to the FHA’s statement, the guidance in the ML enhances CWCOT procedures by:Allowing a second appraisal upon vacancy for a property that had an exterior-only appraisal, where an interior appraisal could not be obtained;Allowing mortgagees to submit eviction costs and certain eligible property preservation expenses incurred during post-foreclosure sales opportunities;Allowing mortgagees to submit eviction costs and certain eligible property preservation expenses incurred during post-foreclosure sales opportunities;Updating the policy and allowable fee structure related to independent third-party providers that conduct foreclosure sales or post-foreclosure sales efforts under CWCOT procedures; andRegularly updating discounts in FHA Connection (FHAC) and change to tier-based pricing factors based on a property’s location, occupancy status, and appraised value. After the property’s appraised value has been established and the Commissioner’s Adjusted Fair Market Value (CAFMV) has been determined, authorized mortgagees may access the CAFMV via the link in FHAC at: https://entp.hud.gov/clas/index.cfm.The CWCOT program began in 2013 as an FHA claim option where insurance benefits are paid to a mortgagee after the sale of the property to a third-party purchaser at foreclosure of the FHA-insured mortgage or through post-foreclosure sales efforts. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago cwcot Foreclosure Property Preservation 2020-07-10 Mike Albanese Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Millions Missed Housing Payments Last Month

first_img 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. In estimating how much distress the COVID-19 crisis has brought upon homeowners, the Mortgage Banker’s Association (MBA) determined, via its Research Institute for Housing America (RIHA), that some 6 million households missed rent or mortgage payments in September.Though the percent of homeowners and renters behind on their payments in Q3 decreased slightly from Q2, the overall amount remains high.”In September, 8.5% of renters (2.82 million households) missed, delayed, or made a reduced payment, while 7.1% (3.37 million homeowners) missed their mortgage payment,” MBA reported.Some experts predict that the worst might not be over.”Rent and mortgage payment collections improved over the summer as more people went back to work, but high unemployment continues to place hardships on millions of U.S. households. There is growing concern that absent a slowdown in the number of coronavirus cases and another round of much-needed federal aid, millions of households in the coming months face the prospect of falling further behind,” said Gary V. Engelhardt, Professor of Economics in the Maxwell School of Citizenship and Public Affairs at Syracuse University. “With the current eviction moratorium expiring in January, the situation could be even more challenging for renters. Many renter households across the country could find themselves with no place to live and no means to repay missed payments.””The tens of millions of student debt borrowers behind on their payments also has future ramifications for the housing and mortgage markets. Borrowers ending up in default would see an adverse effect on their credit, in turn making it potentially more challenging for them to rent or qualify for a mortgage.”The RIHA’s data comes from the Understanding America Study (UAS), an internet panel survey of about 8,000 households specially tailored to study the impact of the pandemic.Authored by Engelhardt and Michael D. Eriksen, Associate Professor of Real Estate at the University of Cincinnati, the study provides “close to real-time economic data on the rapidly evolving financial consequences of the pandemic by following the same set of households from before the outbreak through the end of September,” the MBA reported.Below are key findings from the study, which can be found in full, here:Receiving unemployment insurance (UI) benefits:       Renters – Rose from 3% at the beginning of April to 7% by the end of September;       Mortgagors – Remained unchanged at 3% at the beginning of April and 3% at the end of SeptemberProperty owners continue to play a key role in helping renters:        11.0% of renters missed one payment over the two quarters, 4.0% missed two payments, 2.8% missed three payments, and 3.8% missed four or more payments.         13% of renters received permission from their landlord to delay or reduce their monthly payment (by week).        In aggregate, rental property owners lost as much as $9.2 billion in third-quarter revenue from missed rent payments.     Mortgagors were less likely to miss a payment during the second and third quarters:         4.7% of mortgagors missed one payment over the two quarters, 2.0% missed two payments, 1.5% missed three payments, and 4.2% missed four or more payments.         Around 20% of mortgagors received permission from their lender to delay or reduce their monthly payment (by week).         In aggregate, total missed mortgage payments were estimated to be as much as $19.4 billion for the third quarter.          Demand Propels Home Prices Upward 2 days ago About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago October 19, 2020 1,891 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Subscribe The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2020-10-19 Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Millions Missed Housing Payments Last Month Previous: The Week Ahead: Calabria, Carson, Kraninger to Address Industry Next: Q3 Foreclosure Starts Have Decreased Most in These Cities The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, News Home / Daily Dose / Millions Missed Housing Payments Last Month Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

HUD to Enforce Discrimination Protections for LGBTQ People

first_img The Best Markets For Residential Property Investors 2 days ago Related Articles February 11, 2021 1,001 Views 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. Tagged with: Fair Housing Act HUD Joe Biden Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Government, News Previous: A Growing Number of Millennials Say ‘No’ to Homeownership Next: Zillow Group to Acquire ShowingTime HUD to Enforce Discrimination Protections for LGBTQ People Subscribe  Print This Post Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / HUD to Enforce Discrimination Protections for LGBTQ People The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Fair Housing Act HUD Joe Biden 2021-02-11 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago While housing discrimination based on “race, color, religion, sex, familial status, or national origin” has long been illegal under 1968’s Fair Housing Act, the Department of Housing and Urban Development (HUD) on Thursday effectively added “housing discrimination based on gender identity or sexual orientation” to the type of complaints it will investigate, act upon, and apply funds toward.The action comes on the heels of President Joe Biden’s day-one executive order instructing agencies and departments to enforce prohibitions on such discrimination. HUD officials told reporters it is the first agency to have announced implementation of this executive order.During a press call on Wednesday, a senior HUD official said a “significant” share of fair housing complaints it receives involve sexual orientation or gender identity. (Separately, HUD told NPR it received 197 such claims over the past year).”Housing discrimination on the basis of sexual orientation and gender identity demands urgent enforcement action,” said Acting Assistant Secretary of Fair Housing Equal Opportunity, Jeanine M. Worden. “That is why HUD, under the Biden Administration, will fully enforce the Fair Housing Act to prohibit discrimination on the basis of gender identity or sexual orientation. Every person should be able to secure a roof over their head free from discrimination, and the action we are taking today will move us closer to that goal.”According to HUD officials, various discrimination studies reveal same-gender couples and transgender people experience demonstrably less favorable treatment than their counterparts when seeking housing, specifically renting, which underscores the significance of its action. Until now, LGBTQ discrimination was not clearly defined as illegal and actionable discrimination.”The memorandum relies on the Department’s legal conclusion that the Fair Housing Act’s sex discrimination provisions are comparable in text and purpose to those of Title VII of the Civil Rights Act, which bars sex discrimination in the workplace,” according to HUD. “In Bostock v Clayton County, the Supreme Court held that workplace prohibitions on sex discrimination include discrimination because of sexual orientation and gender identity. HUD has now determined that the Fair Housing Act’s prohibition on sex discrimination in housing likewise includes discrimination on the basis of sexual orientation and gender identity.”Damon Y. Smith, Principal Deputy General Counsel reaffirms that legally, based on Bostock, and ethically, this is the correct move.”We are simply saying that the same discrimination that the Supreme Court has said is illegal in the workplace is also illegal in the housing market,” Smith said.Omar Gonzalez-Pagan, a senior attorney at Lambda Legal who has worked on LGBTQ housing discrimination cases including Bostock told VOX reporter Jerusalem Demsas that  “Discrimination is oftentimes hard to address because you will have your inquiry about a home be rejected and you may not know why. The federal government has the tools to document complaints more systematically, to engage in deeper-level investigations, and to take more comprehensive enforcement through their office of civil rights.”In summary, Gonzalez-Pagan echoed HUD-counsel Smith, telling the news outlet, the measure communicates “to real estate agents, landlords, property owners that this discrimination is not acceptable, is actually unlawful.” About Author: Christina Hughes Babblast_img read more

Upcoming Event Features Experts in Single-Family Rental Investing

first_imgHome / Daily Dose / Upcoming Event Features Experts in Single-Family Rental Investing   The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Share Save Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Christina Hughes Babb Jeffrey TeschOn May 12,  the Five Star Institute will host its 2021 Single-Family Rental Summit (SFRS) at the Four Seasons Resort and Club Dallas at Las Colinas. In addition to a full lineup of subject-matter experts in the field of single-family rental investment, this year’s SFRS will also include Jeffrey Tesch, CEO of RCN Capital, as the event’s moderator. Tesch—who is responsible for overseeing the day-to-day operations of RCN Capital LLC and who has personally overseen more than $2 billion in originations since the company’s inception—says he is “pleased and honored” to be moderating this in-person event. RCN Capital will also be the event’s Host Sponsor.”Five Star has positioned itself as a national leader in education for SFR and I look forward to being part of this event as it will have such a tremendous impact on the space,” Tesch said. “We anticipate an amazing number of leaders in the space to provide insight into where this booming industry is headed as well as networking opportunities that are second to none.” The interest in SFR has been increasing since recovery from the Great Recession, and recent reports reveal that the pandemic has ignited Americans’ desire for larger living spaces and thus sparked a new level of “zest” for this sector of real estate.   The SFRS agenda includes discussions on technology, regional market analysis, understanding the cost-benefit behind buying properties, property management strategies, financing, and how investors can scale single-family business, to name a few. “I am delighted to be working with Jeff Tesch, on the development and presentation of the 2021 SFRS,” Five Star Global Chairman Ed Delgado said. “Jeff’s commentary regarding emerging opportunities in the SFR marketplace will provide attendees with keen insights and perspectives, all designed to develop or expand portfolios. Five Star is fortunate to have him centerstage.” In addition to Tesch, speakers slated to appear at SFRS 2021 include:Zach Bassett, VP, Field Operations, Property MastersJeff Cline, Executive Director & Principal, SVN | SFRhub Capital Fund I, LPKori Covrigaru, Co-Founder and CEO, PlanOmaticJosh Craig, Chief Revenue Office, Lima One CapitalTrey Cummings, CEO and Managing Member, CS Equities and Omega Realty GroupMarc Heenan, Head of Commercial Origination & Asset Management, PeerStreetDaniel Kattan, Principal and Co-founder PIA Residential and PIA Lending; Founder and CEO, Sell2RentChad Mosley, Chief Relationship Officer, MCSBrandon O’Briant, EVP, AssetValJon Ortner, VP of Business Development for Inertia Decision Science, Picket HomesDamon Riehl, Founder and CEO, LoanBidz.comEden Vick, Field Market Specialist, Finance of America CommercialSFRS 2021 Event Sponsors include:Hosting SponsorRCN CapitalCo-Host SponsorsGlobal StrategicProperty MastersPartner SponsorsFinance of America CommercialPeerStreetPlanOmaticPropertyware in Daily Dose, Featured, News Sign up for DS News Daily Further information about the agenda, registration, and other event details (including further speaker announcements) will be available here.   Upcoming Event Features Experts in Single-Family Rental Investing  center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago February 16, 2021 847 Views Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post 2021-02-16 Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: FHFA Scorecard Prepares GSEs for ‘Ultimate’ Exits From Conservatorship Next: Fitch Ratings: RMBS Market Faces Uncertainty 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. Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more

MacGill Summer School opens with call for debate on national unity

first_img Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Facebook By News Highland – July 19, 2010 Previous articleGAA – Derry’s Championship Comes To An EndNext articleVisitor facilities and access to be improved at Sliabh Liag News Highland Twitter Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Pinterest Google+ Pinterest Almost 10,000 appointments cancelled in Saolta Hospital Group this week The 30th annual MacGill Summer School was officially opened in Glenties last night by former Taoiseach Dr Garret Fitzgerald, followed by the 10th annual John Hume Lecture, which was delivered by the North’s Deputy First Minister Martin McGuinness.The theme of this year’s school is Reforming the Republic – Issues of Politics, Economics and Accountability.Participants in sessions today include Transport Minister Noel Dempsey and Foreign Affairs Minister Michael Martin, with several other ministers and senior politicians due in Glenties over the rest of the week.Director Joe Mulholland says the school will be asking serious questions about the state of politics and the economy, but will also be seeking solutions and looking to the future.In his lecture last night, Martin McGuinness said the theme of “Reforming the Republic” cannot be realised by tinkering with the border, and there should be a national debate on Irish unity.He said there should be an end to the duplication of bodies to promote sport, arts, tourism and investment on both sides of the border, and called for the people of Northern Ireland to be allowed to vote in presidential elections in the republic…………[podcast]http://www.highlandradio.com/wp-content/uploads/2010/07/marty830.mp3[/podcast]center_img Calls for maternity restrictions to be lifted at LUH WhatsApp Twitter RELATED ARTICLESMORE FROM AUTHOR Three factors driving Donegal housing market – Robinson WhatsApp Facebook MacGill Summer School opens with call for debate on national unity Guidelines for reopening of hospitality sector published Newsx Advertslast_img read more