Despite Fewer Foreclosure Starts, Distressed Sales Rose in 2013

Posted On May 31 2021 by

first_img Servicers Navigate the Post-Pandemic World 2 days ago January 23, 2014 740 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. Data Provider Black Knight to Acquire Top of Mind 2 days ago Despite declining foreclosure starts over the year, distressed sales made up a higher percentage of overall home sales in 2013 than they did the previous year, according to the U.S. Residential & Foreclosure Sales Report released Thursday by RealtyTrac. The report also revealed an uptick in cash purchases at the close of the year.Foreclosure sales—which include sales to third-party buyers at foreclosure auction and sales of REOs—combined with short sales to make up 16.2 percent of residential property sales in 2013, an increase from 14.5 percent in 2012, according to RealtyTrac.“It may surprise some to see distressed sales rising in 2013 given that new foreclosure activity dropped to a seven-year low for the year,” said Daren Blomquist, VP at RealtyTrac. However, Blomquist pointed out that “there are still more than 1.2 million properties in the foreclosure process or bank-owned, providing a sizable pool of inventory that the housing market is in the process of absorbing.”About 29 percent of home sales in 2013 were all-cash deals, up from 19.4 percent in 2012. All-cash sales increased during the month of December and were significantly higher than a year ago. Cash deals made up 42.1 percent of December’s home sales, according to RealtyTrac, up from a share of 38.1 percent in November and just 18 percent in December 2012.Cash purchases made up more than half of December home sales in five states, including Florida (62.5 percent), Wisconsin (59.8 percent), Alabama (55.7 percent), South Carolina (51.3 percent), and Georgia (51.3 percent).Institutional investors were more active in the residential market in 2013 than in 2012, contributing to 7.3 percent of the year’s home sales, up from 5.8 percent the previous year. The share of institutional investor activity in December was slightly higher and was also up from the previous month. Institutional investors contributed to 7.9 percent of December’s home sales.They were most active in December in Jacksonville, Florida (38.7 percent); Knoxville, Tennessee (31.9 percent); Atlanta, Georgia (25.2 percent); Cape Coral-Fort Myers, Florida (24.9 percent); and Cincinnati, Ohio (19.3 percent).The percentage of home sales that were purchased by third parties at foreclosure auctions doubled over the year in 2013, rising from 0.5 percent in 2012 to 1 percent last year, RealtyTrac reported.About 5.8 percent of home sales in 2013 were short sales, and 9.3 percent were REO sales, according to RealtyTrac. Short sales made up 5.7 percent of December’s home sales and were most common in Nevada (15.3 percent), Florida (14.4 percent), and Illinois (9.0 percent). REO sales contributed to 9.3 percent of sales in December and were most common in Nevada (18.9 percent), Michigan (18.4 percent), and Ohio (17.8 percent).The national median home price in December was $168,391, according to RealtyTrac. Distressed homes sold for about 38 percent less than non-distressed homes. The median price of a distressed home was $108,494, compared to a non-distressed median price of $174,401. About Author: Krista Franks Brock Subscribe Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Distressed Real Estate RealtyTrac REO Short Sale 2014-01-23 Krista Franks Brock Share Save Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agocenter_img Related Articles Home / Daily Dose / Despite Fewer Foreclosure Starts, Distressed Sales Rose in 2013 Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Distressed Real Estate RealtyTrac REO Short Sale Previous: DS News Webcast: Thursday 1/23/2014 Next: Economists Outline What to Watch for in the Real Estate Market of 2014 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Foreclosure, Headlines, Loss Mitigation, News, REO, Story Crawl  Print This Post The Best Markets For Residential Property Investors 2 days ago Despite Fewer Foreclosure Starts, Distressed Sales Rose in 2013 Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more


Computershare Acquires Altavera Mortgage Services

Posted On May 31 2021 by

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Featured / Computershare Acquires Altavera Mortgage Services Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Altavera Mortgage Services Computershare Mergers & Acquisitions 2016-02-29 Brian Honea Subscribe Is Rise in Forbearance Volume Cause for Concern? 2 days ago About Author: Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days agocenter_img 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. in Featured, News Tagged with: Altavera Mortgage Services Computershare Mergers & Acquisitions Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Castle & Cooke Mortgage Expands in Utah Next: MCS Announces Plans to Relocate Headquarters to Lewisville, Texas Demand Propels Home Prices Upward 2 days ago Computershare Acquires Altavera Mortgage Services February 29, 2016 1,301 Views Computershare, a global market leader in transfer agency and share registration, employee equity plans, proxy solicitation and stakeholder communications, recently announced that it has signed an agreement to acquire Denver, Colorado-based Altavera Mortgage Services, LLC, a provider of independent, third-party mortgage origination services to residential mortgage lenders.Computershare specializes in corporate trust, mortgage, bankruptcy, class action and utility administration, and a range of other diversified financial and governance services. The company was founded in 1978 and is known for its high integrity data management, high volume transaction processing and reconciliations, payments and stakeholder engagement.Altavera’s U.S.-based mortgage operations staff provides a full suite of services including loan set-up, processing, underwriting, closing, funding, and quality control for all product types, including non-QM, jumbo, and conventional. While remaining an independent entity as part of Computershare Mortgage Services, Altavera will be a strategic component of Computershare’s expanding global mortgage industry footprint, which already includes mortgage servicer Specialized Loan Servicing (SLS) in Highlands Ranch, Colorado and HomeLoan Management (HML) in the United Kingdom.Brian Simons, founder of Altavera, will continue in his role as President. Debora Aydelotte and Penny Nelson, will both continue in their roles as COO and SVP, Mortgage Operations, respectively. Both companies are working collaboratively together to bring enhanced services to their clients, partners, and the mortgage industry.The companies expect the transaction to close in April 2016.last_img read more


Equity Gains Fuel Rise in Housing Market Value

Posted On May 31 2021 by

first_img Home Equity Seriously Delinquent Mortages 2017-01-23 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago The aggregate value of the U.S. housing market is climbing due to the ongoing rise in home equity, according to the Urban Institute’s Housing Finance at a Glance Monthly Chartbook for January 2017.The share of homes in the U.S. with negative equity is 6.3 percent (3.2 million homes) as of the end of the third quarter last year, according to CoreLogic’s latest data, which is a fraction of the peak negative equity rate of higher than 30 percent in 2012.The result in the consistent rise in home equity over the last four-plus years has been an increase in the aggregate value of the housing market across the country, up to $23.9 trillion as of the end of Q3, according to Urban Institute. Total debt and mortgages made up $10.2 trillion of that $23.9 trillion, while home equity accounted for $13.7 trillion of it. Another 1.6 percent of residential properties were in near negative equity, or those with LTV ratios between 95 and 100, as of the end of Q3, according to CoreLogic.According to Urban Institute, “Agency MBS make up 58.2 percent of the total mortgage market, private-label securities make up 5.8 percent, and unsecuritized first liens at the GSEs, commercial banks, savings institutions, and credit unions make up 29.8 percent. Second liens comprise the remaining 6.2 percent of the total.”While negative equity continues to decline, so also does the percentage of mortgage loans in serious delinquency (90 days or more overdue or in foreclosure). This percentage, which nearly reached 10 percent at the height of the foreclosure crisis in 2010, was at 3 percent as of the end of Q3, according to Urban Institute (down from 3.6 percent from a year earlier). Approximately 1.6 percent of loans were 90 days or more delinquent, while about 1.4 percent were in foreclosure.Click here to view the complete January 2017 chartbook from Urban Institute. Previous: Citi Subsidiaries Draw Fines From CFPB Next: Blackstone’s Invitation Homes Officially Goes Public Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Equity Gains Fuel Rise in Housing Market Valuecenter_img Sign up for DS News Daily  Print This Post Subscribe in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Tagged with: Home Equity Seriously Delinquent Mortages Related Articles 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. Equity Gains Fuel Rise in Housing Market Value Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea January 23, 2017 2,204 Views last_img read more


Mortgage Applications Down, Shares Mostly Unchanged

Posted On May 31 2021 by

first_img Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago June 28, 2017 1,249 Views Tagged with: MBA Demand Propels Home Prices Upward 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago MBA 2017-06-28 Staff Writer The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img According to data from MBA’s Mortgage Applications Survey for the week ending June 23, 2017, the Market Composite Index experienced a 6.2 percent decrease on a seasonally adjusted basis from the previous week. Based on an unadjusted basis, the Index decreased by 7 percent. The Refinance Index also experienced a decrease by 9 percent from one week earlier.More indexes experienced decreases in the previous week while most shares remained unaffected.The seasonally adjusted Purchase Index decreased by 4 percent, and unadjusted by 5 percent. However, the unadjusted Purchase Index was 8 percent higher than a year ago during the same week.The refinance share of mortgage activity decreased to 45.6 percent of total applications from 46.6 percent one week earlier. The ARM share decreased to 7 percent of total applications from the week before.The USDA share of total applications remained unchanged at 0.7 percent from the week prior. The FHA share increased 10.3 percent in total applications from 10.1 percent the week before. The VA share of total applications decreased to 10.3 percent from 10.4 percent the week prior.The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.39 percent from 3.40 percent, with points including the origination fee, decreasing to 0.33 from 0.38 for 80 percent LTV loans.The average contract interest rate for five year ARMs increased to 3.31 percent from 3.26 percent with points increasing to 0.25 from 0.22 for 80 percent LTV loans. The effective rate increased from the previous week.The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances remained unchanged at 4.13 percent, with points including the origination fee decreasing to 0.32 from 0.34 for 80 percent LTV loans, and the effective rate remained the same from last week.The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances increased to 4.09 percent, with points including the origination fee decreasing to 0.20 from 0.30 for 80 percent of LTV loans, and the effective rate decreased from last week.The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 4.02 percent from 4.04 percent, with points including the origination fee increasing to 0.41 from 0.35 for 80 percent LTV loans. The effective rate remained unchanged from last week. Demand Propels Home Prices Upward 2 days ago Related Articles  Print This Post Home / Daily Dose / Mortgage Applications Down, Shares Mostly Unchanged The Best Markets For Residential Property Investors 2 days ago Mortgage Applications Down, Shares Mostly Unchanged About Author: Staff Writer Previous: Promising Outlook for Banks after Fed Stress Test Announcement Next: Senate Committee Takes on GSE Reform The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more


Cordray Under Fire

Posted On May 31 2021 by

first_img in Daily Dose, Featured, Government, Headlines, News  Print This Post Richard Cordray is taking heat once again due to rumors circulating that he intends to run for Governor of Ohio when his tenure as the Director of the Consumer Financial Protection Bureau (CFPB) ends.The Republican Governors Association (RGA) has submitted a second request for information regarding Cordray’s actions via the Freedom of Information Act, 5 U.S.C. 522, to Raynell Lazier in order to find out if Cordray violated the Hatch Act, which prohibits government employees from running for office while still employed in their charge.The letter cites two separate instances as grounds for obtaining the requested information: a report by WXVU saying Cordray had a phone call with the chairman of the Hamilton County Democratic Party; and a report by the Cleveland Plain Dealer announcing upcoming gubernatorial debates in September. Apparently, the RGA questions whether or not Cordray discussed participating in those debates.The RGA requested a slew of information, including logs of Cordray’s cell phone and office phone from June 1, 2017 to present, as well as a copy of the director’s schedule from June to present. The letter notes that although the CFPB posts Cordray’s schedule online for transparency purposes, the director’s office has yet to post June or July’s schedule, which makes the RGA question the actual transparency of the office.In addition, the request lists 10 people who could have corresponded with Cordray via his @consumerfinance.gov email: Tim Burke, Erie Meyer, Zach West, Kirsten Alvanitakis, Nelson Devezin, Rachel Rossi, Josh Thurston, Megan Joyce, Greg Beswick, Bridget Doherty, and Neil Patel. They also would like copies of any emails that reference the terms, “cordrayforohio.com,” “Cordray Committee,” or Gubanatorial Debate or Governor’s Debate or Ohio Debate.”RGA Communications Director Jon Thompson had strong words for Director Cordray in an official statement: “Ohioans deserve to know whether Richard Cordray is using his Consumer Financial Protection Bureau office for political gain at the expense of taxpayers,” he said. “If these new revelations are correct, and Cordray did discuss potential gubernatorial debates with Ohio Democrats, he should admit truthfully what he discussed, if he is engaged in prohibited political activity, and why he is so focused on not doing his job.” Share Save Governmental Measures Target Expanded Access to Affordable Housing 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 ago About Author: Joey Pizzolato Tagged with: CFPB RGA Demand Propels Home Prices Upward 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] Previous: Homework Pays Off Next: Mortgage Delinquency Milestone Demand Propels Home Prices Upward 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Cordray Under Fire Related Articles CFPB RGA 2017-08-16 Joey Pizzolato The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Cordray Under Fire The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago August 16, 2017 1,933 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribelast_img read more


Delgado Warns of Potential Concerns in Housing Market

Posted On May 31 2021 by

first_img Ed Delgado Housing Bubble UT Austin 2017-09-29 Brianna Gilpin Ed Delgado, President and CEO of the Five Star Institute, delivered the keynote presentation at the 51st Annual William W. Gibson, Jr. Mortgage Lending Institute hosted at the University of Texas at Austin School of Law on Thursday. The two-day conference is focused providing professionals with continuing education in financial services legal practice on topics such as developments from the Texas legislature, foreclosure best practices, mortgage loan modifications, and issues for lenders to avoid.Delgado’s presentation, titled “U.S. Housing Market Trends: An Insider’s Perspective,” focused on providing insight into the root causes of the housing crisis and recognizing the market indicators which could lead to the creation and bursting of another bubble.“The patterns we see today in the housing market include some troubling signs,” said Delgado.Several metropolitan statistical areas are showing home price appreciation in the double digits and housing inventory is extremely tight, troubling for the market to be sure. But it’s unlikely that a housing downturn would be felt on the same level as the crisis of the previous decade. Delgado argued that the safeguards that have been put in place (the installation of the CFPB and tighter credit controls for example) in the wake of the crisis coupled with the virtual disappearance of subprime lending at any appreciable level make it more likely that that there will be microbursts of bubbles in areas where the market is overheating, not the nationwide meltdown that brought the nation to the brink of financial collapse.“At its core, the financial crisis of the previous decade was fueled by greed and unchecked market exuberance but a different atmosphere and attitude towards lending exists in the mortgage industry today,” Delgado said. “Now the market faces a threat of a different kind. Recognizing the current indicators that could spell trouble is vital to ensuring policies are put in place that protect homeowners.” Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Related Articles Previous: Ocwen Financial Corp Comments on 15 State Resolutions Next: Three Ways to Ensure Effective Repair Management September 29, 2017 1,589 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days agocenter_img About Author: Brianna Gilpin 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] in Daily Dose, Featured, Headlines, Market Studies, News Delgado Warns of Potential Concerns in Housing Market The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Home / Daily Dose / Delgado Warns of Potential Concerns in Housing Market Sign up for DS News Daily Tagged with: Ed Delgado Housing Bubble UT Austin Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more


Soaring House Prices Could Mean Mini-Bubbles for Some Markets

Posted On May 31 2021 by

first_img Related Articles The Best Markets For Residential Property Investors 2 days ago Soaring House Prices Could Mean Mini-Bubbles for Some Markets  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Soaring House Prices Could Mean Mini-Bubbles for Some Markets Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Ed Delgado Housing Bubble Housing Finance Policy Center mortgage The Urban Institute 2017-11-06 David Wharton Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago 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] Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily November 6, 2017 1,507 Views Demand Propels Home Prices Upward 2 days ago Previous: Powell’s Appointment to Fed Chair Bodes Well for Housing Market Next: Tipping Point: Nearly Half of Top 50 MSAs Considered Overvalued While signs of an imminent nationwide housing bubble are slim when put in context, the news may not be as rosy for some cities. Based on an analysis by the Urban Institute, several California locales top the list of U.S. cities most at risk of a housing bubble, including San Francisco and Los Angeles.As the Urban Institute points out, house prices have been on the rise since 2012, outpacing inflation by 34 percent. However, this rate is nowhere near the runaway price growth seen in the late ‘90s and early ‘00s. Moreover, there’s the question of what relation that growth has to household income and speculation.The Housing Finance Policy Center’s housing affordability index attempts to boil these numbers down to a more digestible metric by tracking “whether the median household can afford a standard mortgage on a median-priced house.” Right now, those numbers nationwide are looking good. According to the Urban Institute’s analysis, “Today, the median household can afford a house that is $70,000 more expensive than the price of the median house sold.”That’s good news for much of the nation. But for the cities most at risk of a housing bubble, soaring home prices are combining with a low affordability based on the housing affordability index. After examining the 37 largest metropolitan statistical areas (MSAs), the Urban Institute’s analysis pegs six California cities among their top ten cities most at risk of a housing bubble.San Francisco-Redwood City-South San Francisco tops the list, tied with San Jose-Sunnyvale-Santa Clarita. Oakland-Hayward-Berkeley slides in at number three, tied with the Miami, Florida area. Los Angeles-Long Beach-Glendale holds the seventh spot, just above Riverside-San Bernardino-Ontario. The Sacramento area is tied for ninth place with Denver, Colorado.The Urban Institute suggests several factors as possibly contributing to the potential unsustainability of housing prices in these MSAs, including housing shortages and international investment.Five Star Institute President and CEO Ed Delgado recently addressed the topic of potential housing bubbles during a keynote presentation at the 51st Annual William W. Gibson, Jr. Mortgage Lending Institute at the University of Texas at Austin School of Law. During a presentation entitled “U.S. Housing Market Trends: An Insider’s Perspective,” Delgado warned that several MSAAs are showing double-digit home price appreciation and inventory shortages.“The patterns we see today in the housing market include some troubling signs,” Delgado said. in Daily Dose, Featured, Headlines, Journal, Market Studies, News Tagged with: Ed Delgado Housing Bubble Housing Finance Policy Center mortgage The Urban Institute The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribelast_img read more


Consolidation and the Value of Bank Debt

Posted On May 31 2021 by

first_img Consolidation and the Value of Bank Debt The Best Markets For Residential Property Investors 2 days ago Cheryl is a Senior Portfolio Analyst at Angel Oak Capital. Pate has more than 15 years’ experience in financial services and primarily focuses on investment research, particularly in the non-bank financials and community banking sectors. Pate joined Angel Oak in 2017 from Morgan Stanley, where she was an Executive Director and Head of Consumer & Specialty Finance Equity Research. Her research coverage included the consumer finance, specialty finance, mortgage servicing/originations, mortgage REIT, payments, fintech, and banking industries. Pate holds an M.B.A. from Duke University’s Fuqua School of Business and a B.S. in Commerce (Finance) from the University of British Columbia. She also holds the Chartered Financial Analyst (CFA) designation. About Author: Cheryl Pate May 9, 2019 7,427 Views Home / Commentary / Consolidation and the Value of Bank Debt Banks Community Banks Consolidation debt M&A 2019-05-09 Radhika Ojha Servicers Navigate the Post-Pandemic World 2 days ago The Great Recession, although now fading into history, was certainly devastating to financial markets in general and banking institutions specifically. However, the strategic response to the crisis by financial institutions, coupled with legislative initiatives that drastically altered the regulatory landscape, has resulted in a fundamental reboot of the banking industry. Balance sheets have largely been scrubbed of troubled assets, capital and loan loss reserves are at all-time highs, and earnings are approaching pre-crisis levels. There are many environmental factors at work that point to continued strong performance from banking institutions across the board.While regulatory changes enacted in the Dodd-Frank Act have improved the overall health of the banking sector, the Dodd-Frank Act also forced banks to change their capital structure, bringing an abrupt halt to the $60 billion Trust Preferred Securities (“TruPS”) market. Post-financial crisis, large banks have had easier access to the capital markets, yet it has been more challenging for smaller banks to raise or replace capital, whether in the public or private markets, as potential investors are more scarce. Thus, community bank sub-debt issuance is on the rise due to renewed interest from investors after a long drought. The current market inefficiency leads to a unique opportunity for sophisticated investors who can identify relative value in the space.At the same time, larger banks continue to acquire smaller banks in order to achieve the much-needed scale required to survive in the new utility model of banking that regulators are encouraging – and mandating. As the Federal Reserve moves to a neutral stance and with earnings growth likely at cyclical highs, M&A will continue to accelerate. We are seeing evidence of this as M&A activity has continued despite recent stock market volatility.Additionally, industry consolidation generally has had a very favorable impact on the value of bank debt, especially those securities issued by smaller institutions, which tend to be acquired by larger and stronger banks. In most merger/acquisition scenarios, the acquirer assumes the liabilities and continues to service any outstanding debt of the acquired institution. The outcome is often an upgrade in the overall perceived credit quality of the acquired debt, leading to substantial price appreciation.Community bank sub-debt should provide stable performance with low volatility considering the banking sector’s strong capital bases and credit quality underpinned by solid economic fundamentals. In addition, the rising issuance of bank sub-debt, particularly by smaller banks, presents a compelling opportunity to find relative value. Tagged with: Banks Community Banks Consolidation debt M&A in Commentary, Daily Dose, Featured, Investment, News Previous: New Division President Announced for Title Company Next: Freddie Mac Announces $2B+ Securitization of Reperforming Loans Related Articles  Print This Postcenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 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 Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Subscribelast_img read more


Rising Rent, Falling Incomes Keeping Millennials from Homeownership

Posted On May 31 2021 by

first_img 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. About Author: Mike Albanese September 20, 2019 1,295 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago A new report by HireAHelper finds that while only baby boomers faced less affordable rent prices than Gen Xers and millennials, buying a home is out of reach for many millennials as income hasn’t been able to keep up with rising home values. The report states that rent costs for baby boomers, when they were entering the housing market, were equal to 38.1% of monthly incomes. Rent costs equaled 35.9% for Gen Xers and 35.7% for millennials. According to the report the average home for millennials is worth 6.4 years’ of income, which is a 15% increase from the 5.6 years’ of income for an average home for booth baby boomers and Gen Xers. Information from HireAHelper shows that home values and the amount of income needed to buy a home have skyrocketed since 1970. In 1970 it took 5.18 years’ of income to purchase a home, which rose to 6.76 years’ of income by 2010. Home values have nearly doubled during the same time period, going from $97,100 in 1970 to $218,776 in 2016.“Other obstacles stand between millennials and their first home purchase: the burden of student debt, stricter home lending standards, and a shrinking supply of affordable housing,” the report states. “Overall, homeownership is far less accessible to millennials than it was to previous generations in their early years of adulthood.”The report adds that fewer millennials are able to graduate from renting to owning, and that 82% of renters view their current housing situation as more affordable than purchasing a home.Additionally, millennials live in their homes for shorter periods than prior generations. Millennials report moving every two years, on average, which is twice as often as Gen Xers at four years and three times more frequently than baby boomers who stay in a home for an average of six years. Seventy-three percent of millennials plan to move in the next decade, compared to just 58% of Gen Xers and 43% of baby boomers. Rising Rent, Falling Incomes Keeping Millennials from Homeownership Demand Propels Home Prices Upward 2 days ago Affordability Millennials Rent prices 2019-09-20 Mike Albanese Previous: The Week Ahead: Home Values and Affordability Next: Computershare Loan Services Earns Fannie Mae “STAR Performer” Status Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Rising Rent, Falling Incomes Keeping Millennials from Homeownership The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Tagged with: Affordability Millennials Rent prices Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Subscribelast_img read more


LTC told works are imminent on Kirkstown and Circular Roads

Posted On May 27 2021 by

first_img WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Letterkenny Town Council has been briefed on its roads programme for the year, with long awaited surfacing on the Kirkstown Road due to start within the coming weeksMeanwhile, members have been told that €30,000 has been made available for safety works on the Circular Road.Cllr Gerry Mac Monagle says that when other funding is factored in, the amount being spent is double that………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/02/gerry830.mp3[/podcast] By News Highland – February 15, 2011 News Google+ WhatsApp Google+ Facebook Previous articleDonegal benefitting from new cross border health programmeNext articleSoccer – Fanad Utd Awarded A Licence News Highland Twitter LTC told works are imminent on Kirkstown and Circular Roadscenter_img Pinterest Three factors driving Donegal housing market – Robinson Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly Facebook Twitter RELATED ARTICLESMORE FROM AUTHOR Almost 10,000 appointments cancelled in Saolta Hospital Group this week Calls for maternity restrictions to be lifted at LUH Pinterestlast_img read more