DS News Webcast: Monday 6/10/2013

first_imgHome / Featured / DS News Webcast: Monday 6/10/2013 Previous: Two Lawfirms File Suit Against Government for GSE Shareholders Next: DS News Webcast: Wednesday 6/12/2013 About Author: DSNews The Best Markets For Residential Property Investors 2 days ago June 12, 2013 526 Views 2013-06-12 DSNews Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily DS News Webcast: Monday 6/10/2013 Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe in Featured, Media, Webcastslast_img read more

Low Credit Score May be Keeping Many Renters from Homeownership

first_img Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago An analysis of millions of credit reports comparing financial behavior patterns of those who currently rent and those who have a current mortgage revealed that tens of millions of renters might not qualify for a mortgage due to a low credit score—and that a large share of renters have other outstanding debt that is currently in collections, according to the Urban Institute.In a report released Thursday titled Comparing Credit Profiles of American Renters and Owners by Wei Li, Senior Research Associate, and Laurie Goodman, Director, Housing Finance Policy Center from the Urban Institute, the authors discovered several patterns on how mortgage debt relates to other types of debt when examining the financial habits of 118 million homeowners and 127 million renters nationwide.Homeowners tend to have higher credit scores than renters, the authors reported. About 68 percent of homeowners had a Vantage credit score above 700, compared to just 33 percent of renters; meanwhile, renters accounted for 84 percent of all consumers with scores below 550. About 45 percent of renters who have not had a mortgage in the past 16 years have credit scores below 600; that share becomes 30 percent for renters who have had a mortgage in the past 16 years but do not currently have one; and 9 percent for renters who currently have a mortgage.”Generally, consumers need a minimum credit score of 650 to qualify for a mortgage,” the authors stated. “Using this number, 60.2 million current renters—48 percent of all adult renters—could qualify for a mortgage based on their credit score alone. . . The other 63.8 million—52 percent of renters—do not have a high enough credit score to qualify for a mortgage. This number would be lower once debt-to-income and ability to fund a down payment are considered.”The authors found that 96 million American renters have never had a mortgage—and 42 percent of them have some other type of consumer debt in collections. This group tends to be younger than other groups covered in the report and the members of this group are “less likely to have credit card debt or spending but much more likely than the other five groups to have a debt in collection. This group also has the lowest credit scores, a concern given that this is the largest group and the group that might be interested in eventual homeownership,” according to Li on the Urban Institute’s blog.The report also examined a group of current renters who have had a mortgage at some point in the last 16 years, which totals about 8 percent of American adults (19 million). The authors discovered that this group is typically about the same age as those who currently have mortgages but have more debt, which may have in fact led to their being forced out of homeownership. This group “has the highest percent of public debt records (28 percent) and the second highest percent of debt in collections (37 percent),” Li said. “This group uses auto loans and credit cards less than the two groups with current mortgages, possibly because of difficulties in obtaining credit.”Approximately 12 million renters are also paying on a current mortgage, according to the authors. Current homeowners and those renters who own a mortgage tend to have credit scores higher than 700, while about half the members of both groups have an auto loan and about 80 percent of both groups have some credit card debt.“The percent of debt collections and public records of debts owed are similar and modest; and less than one in five people in each group have a student loan,” Li said. “Renters with current mortgages are, however, slightly younger than owners with current mortgages. The average age of the renters group is 45 compared with 51 for the owners.”Click here to view the Urban Institute’s full report. The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Share Save Demand Propels Home Prices Upward 2 days ago Related Articles Tagged with: Consumer Debt Homeowners Mortgage Debt Renters Urban Institute Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Brian Honea Low Credit Score May be Keeping Many Renters from Homeownership Consumer Debt Homeowners Mortgage Debt Renters Urban Institute 2016-03-17 Brian Honea 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 Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Previous: Will the Tight Inventory Loosen Up for the Spring Homebuying Season? Next: Credit Unions Petition CFPB Director Cordray for Exemption in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Low Credit Score May be Keeping Many Renters from Homeownership March 17, 2016 1,452 Views Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

U.S. Chamber of Commerce and Lobbying Groups File Suit against CFPB

first_imgSign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Consumer Financial Protection Bureau’s (CFPB) arbitration rule is coming under fire yet again.A group of lobbying groups, including American Bankers Association, Consumer Bankers Association, and Financial Services Roundtable and numerous others, filed a complaint with a Dallas Federal Court against the CFPB Friday on the hotly-debated arbitration clause that was recently passed. The suit has been spearheaded by the U.S. Chamber of Commerce.The CFPB, when finalizing the rule, argued that it gave consumers more options when it comes to challenging Big Business, but opponents of the rule say it could have unintended consequences, such as higher interest rates for consumers and an increase in revenue for trial lawyers.In making its arbitration rule, the CFPB conducted a study defending its actions, which were contested by members of both the House and Senate, arguing that the data was skewed, and wasn’t indicative of the real ramifications of eliminating the standard arbitration clause effects.The Office of the Comptroller of the Currency also released findings based on the data which contradicted the CFPB’s findings. According to the Acting Comptroller of the Currency Keith Noreika, “In the published final rule, the CFPB states that analysts were unable to identify any evidence from the data to indicate companies that removed their arbitration agreements raised their prices. The OCC review of the same data, however, shows that there is an 88-percent chance of the total cost of credit increasing as a result of the final rule prohibiting mandatory arbitration to allow consumers to pursue class-action lawsuits and a 56-percent chance that costs will increase by 3 percentage points or more.”The complaint challenges the legality and the constitutionality of the arbitration rule based on four reasons, which according to the complaint are “independently sufficient to require invalidation of the [arbitration] Rule.”Complainants argue that the rule is a product of, “and fatally infected by” the unconstitutional structure of the CFPB, which was provided by Congress in the Dodd-Frank Act. The complaint also argues that the rule violates the Administrative Procedure Act, due to the fact that the CFPB failed to observe legal requirements when making its conclusion based on a study that was “deeply flawed” insofar as it misappropriated data and ignored important considerations when gathering said data.Third, the rule also ignores previous records reported by the Bureau, and such points to the fact that the finding is “the very model of arbitrary and capricious agency action.” Finally, the rule is counterintuitive, in failing to support public interest or consumer health by denying arbitration, an option that is commonly believed to benefit overall consumers in favor of the less beneficial option of class-action lawsuits.Interested parties can read the full, 52 page report, here. Tagged with: breaking news CFPB HOUSING mortgage US Chamber of Commerce breaking news CFPB HOUSING mortgage US Chamber of Commerce 2017-09-29 Joey Pizzolato Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago 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] in Daily Dose, Featured, Government, Headlines, News September 29, 2017 1,951 Views center_img Subscribe The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Joey Pizzolato Home / Daily Dose / U.S. Chamber of Commerce and Lobbying Groups File Suit against CFPB Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Previous: House of Representatives Makes Move to Privatize Flood Insurance Next: Could There Be Racial Disparities in Bankruptcy? Related Articles U.S. Chamber of Commerce and Lobbying Groups File Suit against CFPB  Print This Postlast_img read more

Rates and Prices Pushing Affordability Out of Reach

first_img  Print This Post in Daily Dose, Featured, Journal, News Data Provider Black Knight to Acquire Top of Mind 1 day ago Servicers Navigate the Post-Pandemic World 1 day ago Affordability Ben Graboske. Black Knight Daryl Fairweather Home Price Index Redfin 2021-04-05 Eric C. Peck Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 1 day ago Home / Daily Dose / Rates and Prices Pushing Affordability Out of Reach Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Rates and Prices Pushing Affordability Out of Reach Previous: Prepping for Regulatory Climate Change Next: Mother Nature Impacting Housing Relocation Choicescenter_img April 5, 2021 753 Views Demand Propels Home Prices Upward 1 day ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Affordability Ben Graboske. Black Knight Daryl Fairweather Home Price Index Redfin Share Save Related Articles About Author: Eric C. Peck Black Knight’s latest Home Price Index has found home prices up 11.6% in February, hitting their highest annual rate in more than 15 years. Also rising at an equally-paced clip, median single-family sales prices rose 15.9% year-over-year in February. The rise in home prices, along with the uptick in mortgage rates, has driven affordability to its lowest point since mid-2019.Black Knight found that it now takes 20% of the median household income to make monthly payments on an average-priced home–back to the five-year average, but still stronger than the 20-year average of 23.4%. In January and February, it was found that there were 125,000 fewer listings compared to 2020, pushing home for-sale inventory 40% below last year’s level.“Of course, upward pressure on home prices has also served to tighten affordability, and with rates on the rise, affordability concerns are coming into sharper relief,” said Black Knight Data & Analytics President Ben Graboske. “It now takes 20% of the median income to make the monthly payment on the purchase of an average-priced home, back up to the five-year average after several years of low interest rates mitigating the impact of rising prices on affordability. Housing is now the least affordable it’s been–factoring in interest rates, home prices and income–since mid-2019. Any hopes of 2021 bringing an influx of homes to the market and lessening pressure on prices appear to be dashed for now, as new for-sale listings were down 16% and 21% year-over-year in January and February, respectively. Rather than an influx of homes on the market, we’re now 125,000 fewer new listings in the hole compared to the first two months of 2020 and trending in the wrong direction. With higher interest rates and a continuing shortage of inventory, it will be important to keep a careful eye on both home prices and affordability metrics in the coming months.”Regionally, Black Knight’s affordability data shows that recent increases in 30-year rates, combined with sharply rising home prices, are starting to put pressure on some higher-priced markets.In the Los Angeles metro market, even with 30-year rates at 3.17% as they stood in late-March, it requires 43.6% of the median monthly income to make mortgage payments on the median-priced home purchase when putting 20% down–well over twice the national average.”The uptick in mortgage rates is likely fueling more bidding wars in the short term because house hunters are rushing to buy homes before rates rise even further,” said Redfin Chief Economist Daryl Fairweather in a recent report. “If mortgage rates move significantly higher, we’ll likely see some buyers move to the sidelines, which will curb competition in the long run.” Data Provider Black Knight to Acquire Top of Mind 1 day ago Demand Propels Home Prices Upward 1 day ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Council figures on rates underline challenge facing Donegal businesses

first_img Guidelines for reopening of hospitality sector published Council figures on rates underline challenge facing Donegal businesses By News Highland – June 25, 2012 Facebook Twitter Previous articleTwo arrested in connection with Derry assaultNext articleFindings of 90k report into controversial council project to be kept secret News Highland 448 new cases of Covid 19 reported today WhatsApp Google+ Donegal County Council has written off 3.4 million euro in rates due last year deeming the money irrecoverable.Figures released by the council show that of the almost 21 million euro in rates demanded off businesses last year just 15 million euro has been collected.22% of businesses have entered a payment plan with the council for a total amount of 2.25 million euro carried forward to this year.In all, 11 million euro in rates are on the council’s books as being in arrears. RELATED ARTICLESMORE FROM AUTHOR Pinterestcenter_img Google+ Pinterest Twitter Help sought in search for missing 27 year old in Letterkenny NPHET ‘positive’ on easing restrictions – Donnelly WhatsApp Newsx Adverts Three factors driving Donegal housing market – Robinson Calls for maternity restrictions to be lifted at LUH Facebooklast_img read more

Larkin will not run as an independent

first_img By News Highland – February 8, 2011 WhatsApp WhatsApp Facebook Previous articleGAA- Donegal Ladies Off To Winning StartNext articleGAA – Donegal Win Ulster Vocational Title News Highland Google+ Pinterest Help sought in search for missing 27 year old in Letterkenny Letterkenny Councillor Dessie Larkin has confirmed he will not be running as an Independent candidate in Donegal North East, and intends remaining on as a member of Fianna Fail.Last week, it was widely believed he would be added to the ticket after Deputy Niall Blaney indicated he would not be going forward again. However, party headquarters chose to go with a one candidate strategy, with Cllr Charlie Mc Conalogue alone on the ticket.This led to claims that Cllr Larkin was shafted by Fianna Fail, with calls for him to leave the party and go it alone.However, he says after listening carefully to what people have had to say, he wants to play his part in reforming and rebuilding the party from within…………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/02/dessi8301.mp3[/podcast] NPHET ‘positive’ on easing restrictions – Donnelly Twitter RELATED ARTICLESMORE FROM AUTHORcenter_img Pinterest Newsx Adverts Three factors driving Donegal housing market – Robinson Google+ 448 new cases of Covid 19 reported today Larkin will not run as an independent Facebook Calls for maternity restrictions to be lifted at LUH Twitter Guidelines for reopening of hospitality sector publishedlast_img read more

President Michael D Higgins in Derry for first official NI engagement

first_imgNews President Michael D Higgins in Derry for first official NI engagement Pinterest Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Google+ Pinterest Twitter Facebook WhatsApp WhatsApp Twitter RELATED ARTICLESMORE FROM AUTHORcenter_img Guidelines for reopening of hospitality sector published LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebook Calls for maternity restrictions to be lifted at LUH Google+ Previous articleAlmost 1000 homes left without powerNext articleHogan leaving back door open for new regulations – Canning News Highland By News Highland – November 13, 2011 Almost 10,000 appointments cancelled in Saolta Hospital Group this week President Michael D. Higgins has attended his first official engagement as Uachtaráin na hÉireann in Northern Ireland this evening.He  attending an All Ireland School Choir Competition in Derry.The event, in the Millennium Forum, involves choirs from Belfast, Navan, Dublin and Waterford.Co-operation Ireland CEO Peter Sheridan says it’s an honour that his first official function was to Derry, but it’s also significant for what it says about his prioritiess:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/11/derryhiggins.mp3[/podcast] Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

Man due in Derry court on murder charges

first_img Google+ Man due in Derry court on murder charges Facebook Previous articleDonegal Islanders go to the polls for General Election 2011Next articleContract signed for 25.8 million euro Letterkenny Sewerage Scheme News Highland Pinterest WhatsApp RELATED ARTICLESMORE FROM AUTHOR WhatsApp Calls for maternity restrictions to be lifted at LUH Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey center_img Pinterest Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ Guidelines for reopening of hospitality sector published News By News Highland – February 23, 2011 Twitter A 46-year-old man will appear in court this morning charged with murder and attempted murder following an incident at a house at Derry.The man will appear at Derry Magistrates Court charged with the murder of 49 year-old Paddy Harkin and the attempted murder of a Paul Mythen.39 year-old Mr Mythen who has an address at Leck Cottages in Letterkenny,  remains in a critical condition in hospital.Mr Harkin, who was originally from Creggan, was found dead at his flat on Bayview Terrace on Sunday.last_img read more

Road funding cuts will mean more costs in the long term – Gallagher

first_img Twitter News Pinterest Facebook Previous articleCarndonagh and Milford RDF closures won’t be reversed – MinisterNext articleO’Cuiv to address FF agriculture meeting as council backs CAP motion News Highland Facebook Minister McConalogue says he is working to improve fishing quota Pinterest Twitter Google+ Road funding cuts will mean more costs in the long term – Gallagher A Donegal County Councillor is warning that road funding for the county could be cut by even more than initially anticipated.It’s expected that the council’s road funding will be slashed by 15%, although there are worries that this could rise to 25%.Sinn Fein Cllr Marie Therese Gallagher says this is a short sighted measure, arguing that by cutting roads funding, the Government will make no savings.She says that as a result of the cuts, the roads here will degrade even more, which in the long term will prove more costly………….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/11/mar830.mp3[/podcast]center_img WhatsApp By News Highland – November 28, 2012 Google+ Dail hears questions over design, funding and operation of Mica redress scheme Need for issues with Mica redress scheme to be addressed raised in Seanad also Almost 10,000 appointments cancelled in Saolta Hospital Group this week RELATED ARTICLESMORE FROM AUTHOR WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report last_img read more

Donegal Deputy to Address Major International Conference

first_img Donegal Deputy to Address Major International Conference WhatsApp Need for issues with Mica redress scheme to be addressed raised in Seanad also Google+ Twitter Pinterest Pinterest Cllr. McLochlainn Google+ Minister McConalogue says he is working to improve fishing quota Facebook By News Highland – November 22, 2014 Dail hears questions over design, funding and operation of Mica redress scheme Twitter 70% of Cllrs nationwide threatened, harassed and intimidated over past 3 years – Report Previous articleMorrison & Patton sign up with Derry CityNext articleListen Back to Saturday’s Weekend Edition News Highland RELATED ARTICLESMORE FROM AUTHOR Homepage BannerNews WhatsApp Dail to vote later on extending emergency Covid powers Man arrested in Derry on suspicion of drugs and criminal property offences released Sinn Fein’s spokesman on Justice, Equality and Defence is addressing a major international conference in Palestine.It’s attended by hundreds of delegates from all over the world, including government ministers, city mayors and local authority leaders.The conference is taking place in the city of Ramallah, in the West Bank.Donegal Deputy Padraig Mac Lochlainn, says they want to help Palestine to rebuild it’s economy and local government structure:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/11/pad10.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebooklast_img read more