Alabama Senator Expected to Take Over As Chair of Senate Banking Committee

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago U.S. Senator Richard Shelby, R-Alabama, is expected to become the new chair of the Senate’s Banking, Housing, and Urban Affairs Committee following Tuesday’s election in which Republicans retained control of the House of Representatives and made historic gains in the senate to take over the majority. The move likely signals a shift in the in the hosing policy that will emanate from the legislative branch.Shelby, 80, previously served as chair of the committee from 2003 to 2007. He is replacing retiring Senator Tim Johnson, D-South Dakota, as chair, and in doing so is moving past committee ranking member Mike Crapo, R-Idaho, in the pecking order in accordance with the GOP caucus rules that govern eligibility for leadership.Shelby will have just two years to lead the committee under GOP party rules after he takes the gavel in January. Despite working against the clock, many analysts and observers believe that his experience and longtime involvement with the committee will allow him to speed up the committee’s activity.It remains to be seen what issues Shelby will tackle first in his second term as Senate Banking Committee chair, but experts believe that a priority will be taking on issues with the Dodd-Frank Wall Street Reform Act in 2010 and in particular concerns over the activities of the Consumer Financial Protection Bureau (CFPB) which formed a year after the Dodd-Frank Act was passed. There are reported to be several proposed bills regarding financial regulation reform in the House that have yet to make their way to the Senate due to outgoing chair Tim Johnson’s opposition to such reform.On Wednesday, incoming Senate Majority Leader Mitch McConnell signaled that the Republicans would look at revisiting Dodd-Frank.Some observers have also speculated that Government-Sponsored Enterprise Reform will be a priority for Shelby, since he was instrumental in negotiations for a 2008 housing law that resulted in the creation of a new regulator for GSEs.The Republicans will hold at least 52 seats in the Senate starting in January. It is likely that the number will grow to 53 or 54 with the probable victory of Republican Representative Bill Cassidy over incumbent Mary Landrieu in the runoff for Louisiana’s Senate seat and the final results of Alaska’s senate election still being officially tabulated.Still, any housing legislation that Shelby proposes will need at least some Democratic support in the Senate in order to pass the filibuster test. It’s unclear whether McConnell will expand the so-called “nuclear option” to further diminish the traditional parliamentary procedure. While decrying outgoing majority leader Harry Reid’s pushing of the nuclear button to push through some of President Obama’s nominees, McConnell did note that it was “hard to unring a bell.”But the president still holds the power of the veto pen for any new policy reforms that make it out of the legislative branch. McConnell declared Wednesday that he will attempt to set a tone of conciliation by working with the Democrats, including the president, to find areas of common ground. Whether there is any common ground to be had  in housing policy remains to be seen. November 5, 2014 1,109 Views Subscribe  Print This Post The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles About Author: Brian Honea Previous: Fed: Mortgage Lending Standards Hold Steady Despite Weakening Demand Next: Legal League 100 Board Discusses Issues Facing Financial Services Industry Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Best Markets For Residential Property Investors 2 days agocenter_img in Daily Dose, Featured, Government, News Home / Daily Dose / Alabama Senator Expected to Take Over As Chair of Senate Banking Committee Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 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. The Best Markets For Residential Property Investors 2 days ago Tagged with: Alabama Richard Shelby Senate Banking Committee Senate Banking Housing and Urban Affairs Committee Alabama Senator Expected to Take Over As Chair of Senate Banking Committee Alabama Richard Shelby Senate Banking Committee Senate Banking Housing and Urban Affairs Committee 2014-11-05 Brian Honealast_img read more

Home Price Growth, Including Distressed Sales, Continues to Stabilize

first_imgHome / Daily Dose / Home Price Growth, Including Distressed Sales, Continues to Stabilize Tagged with: CoreLogic Distressed Sales Home Sales April 7, 2015 1,134 Views Subscribe Home Price Growth, Including Distressed Sales, Continues to Stabilize Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Previous: DS News Webcast: Wednesday 4/8/2015 Next: Housing Data Shows Surge in Demand, Median List Prices Servicers Navigate the Post-Pandemic World 2 days ago About Author: Brian Honea When figuring in distressed sales (short sales and REO transactions), home prices jumped by 5.6 percent year-over-year in February, according to CoreLogic’s February 2015 Home Price Index released on Tuesday. February’s increase marked 36 consecutive months of year-over-year increases in home prices, including distressed sales.CoreLogic Chief Economist Frank Nothaft said home price growth has been stabilizing since the second half of 2014 due to the dwindling supply of affordable housing. Anand Nallathanti, President and CEO of CoreLogic, said the recent home price appreciation is the “hottest” the housing market has experienced prior to spring in nine years – since before the recession.”Assuming a benign interest rate environment and continued strong consumer confidence, we expect home prices to rise by an additional 5 percent over the next 12 months,” Nallathanti said.Excluding distressed sales, home prices increased by 5.8 percent year-over-year and 1.5 percent month-over-month in February, according to CoreLogic. The total number of short sales appears to be on the decline, according to data released by Black Knight Financial Services on Monday. Short sales declined by 45 percent year-over-year in 2014, and REO transactions decreased by 16 percent. The average short sale discount in 2014 was 23 percent, according to Black Knight, meaning that properties in short sales sold for 77 cents on the dollar compared to traditional market sales. The peak for short sale discounts was reached in July 2013, at 25.3 percent, according to Black Knight.For the short term, CoreLogic predicted that home prices, including distressed sales, would appreciate by 0.6 percent from February to March and by 5.1 percent (plus or minus 2 percent) year-over-year from February 2015 to February 2016. Excluding distressed sales, home prices are expected to increase by 0.5 percent month-over-month from February to March and by 4.8 percent (plus or minus 2 percent) year-over-year from February 2015 to February 2016.Even with the recent home price appreciation, prices are still 12.2 percent below their peak, which was reached in April 2006. Excluding distressed sales, home prices were still 7.8 percent below that peak month of April 2006, according to CoreLogic. Nevada was the state with home prices furthest below its peak value, at 35.4 percent. The state with the largest year-over-year home price appreciation, including distressed sales, was Colorado at 9.8 percent. Governmental Measures Target Expanded Access to Affordable Housing 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. Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News CoreLogic Distressed Sales Home Sales 2015-04-07 Brian Honea  Print This Post Data Provider Black Knight to Acquire Top of Mind 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 Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily last_img read more

FHFA Allows for Third Parties to Solve Loan Repurchase Disputes

first_img FHFA Allows for Third Parties to Solve Loan Repurchase Disputes Fannie Mae FHFA Freddie Mac Loan Repurchases 2016-02-02 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago February 2, 2016 1,337 Views  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Tagged with: Fannie Mae FHFA Freddie Mac Loan Repurchases The Week Ahead: Nearing the Forbearance Exit 2 days ago About Author: Xhevrije West The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Xhevrije West is a talented writer and editor based in Dallas, Texas. She has worked for a number of publications including The Syracuse New Times, Dallas Flow Magazine, and Bellwethr Magazine. She completed her Bachelors at Alcorn State University and went on to complete her Masters at Syracuse University. center_img Share Save Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / FHFA Allows for Third Parties to Solve Loan Repurchase Disputes Previous: Kentucky Amends Foreclosure Sale Rules Next: Counsel’s Corner: HOA Super-Priority Lien Issue Not as Clear After Court Opinion Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Secondary Market The Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac announced Tuesday the establishment of an independent dispute resolution (IDR) process for solving mortgage repurchase disputes.In 2012, FHFA, Fannie Mae, and Freddie Mac made the representation and warranty framework​  a priority to complete in the conservatorship scorecards, the announcement noted. The 2016 scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions provided direction to complete IDR as part of that framework.”The IDR process provides the Enterprises and lenders a mechanism for resolving a repurchase dispute and avoiding the possibility that a dispute might languish unresolved for an extended period of time as has often occurred in the past,” said Melvin L. Watt, FHFA Director. “IDR is the final part of the Representation and Warranty Framework which, taken as a whole, will increase clarity for lenders and will ultimately increase access to mortgages for creditworthy borrowers.”The IDR portion of the framework is designed to allow lenders to escalate unresolved loan level disputes to a neutral third-party arbitrator after the appeal and escalation processes have been exhausted, the announcements said.”The IDR process is specifically designed to address alleged loan-level breaches of selling representations or warranties that remain unresolved after completion of the appeals process,” Fannie Mae and Freddie Mac noted. “The IDR process will not replace the Government Sponsored Enterprises’ current quality control and related appeal processes, but will allow a neutral third party to resolve demands that remain unresolved after the appeal and escalation processes have been exhausted.”According to the FHFA, Fannie, and Freddie, the IDR process is available on loans delivered to Fannie Mae and Freddie Mac on or after January 1, 2016. More information will be provided in the GSEs’ selling guide later this year.”The IDR process provides the Enterprises and lenders a mechanism for resolving a repurchase dispute and avoiding the possibility that a dispute might languish unresolved for an extended period of time as has often occurred in the past.” Mel Watt, FHFA DirectorAndrew Bon Salle, EVP, Single-Family Business at Fannie Mae stated, “Over the last few years, we’ve worked closely with our customers to help clarify our policies and guidelines related to representations and warranties. Our intention has been to ensure lenders can lend with confidence knowing that if they originated to Fannie Mae guidelines their risk of repurchase has been minimized. Many lenders have told us that our efforts are paying off, and that they are more comfortable lending to the full credit box of our guidelines. This latest step provides a clear, reliable and independent process to resolve disagreements over repurchase requests in a timely fashion when needed.  We believe we’ve created a system that addresses our customers’ concerns.  We’ll continue to work closely with our customers to drive simplicity and certainty in all aspects of our business.””Today’s announcement finishes a four-year process to give our lenders a simpler, clearer, and more certain representations and warranties framework for originations,” said Donna Corley, SVP, Division Chief Risk Officer, Single-Family at Freddie Mac. “The final piece is a new independent dispute resolution (IDR) process for handling alleged loan-level breaches of selling representations or warranties that are unresolved after completing our appeals process. This process empowers lenders to refer these disputes to a neutral third party for a final decision. The transformation of the representation and warranties framework was undertaken at the direction of the Federal Housing Finance Agency to Freddie Mac and Fannie Mae. Today’s announcement underscores the steady fulfillment of our commitment to work with all stakeholders to strengthen America’s mortgage finance system.””I applaud the Federal Housing Finance Agency, Fannie Mae, and Freddie Mac for their effort in establishing another important piece to their representation and warranty framework,” said Ed Delgado, President and CEO of The Five Star Institute. “The implementation of an independent dispute resolution process for resolving repurchase disputes within Fannie Mae and Freddie Mac will be a tremendous help to lenders in the mortgage industry and will increase access to credit for borrowers. I strongly support these government agencies’ actions to further expand lenders’ businesses and boost homeownership in the U.S.”Click here to view the FHFA announcement.Click here to view Fannie Mae’s announcement.Click here to view Freddie Mac’s announcement.Editor’s note: The Five Star Institute is the parent company of DS News and DSNews.com.last_img read more

The Fight to Eliminate Blight Continues

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post The Fight to Eliminate Blight Continues in Daily Dose, Featured, Foreclosure, News Demand Propels Home Prices Upward 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Tagged with: Blight Ohio TARP Troubled Asset Relief Program Vacant and Abandoned Properties Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago While a fast track foreclosure bill aimed at eliminating blight awaits a vote in the Ohio State Senate, the U.S. Senate in Ohio has taken action.U.S. Senator Sherrod Brown (D-Ohio) has announced that following his urging, Ohio will receive $97.6 million in federal funding and is eligible to receive another quarter of a billion in order to prevent the spread of blight and help rebuild communities that were devastated by the foreclosure crisis.The new federal funding is part of the additional $2 billion in Troubled Asset Relief Program (TARP) funding announced by the U.S. Department of Treasury on February 19 for the Hardest Hit Fund (HHF). It is also part of a $2 billion investment Brown secured in December in order to bolster the HHF as part of the year-end government funding bill, according to an announcement from Brown.“This new funding will go a long way toward helping Ohio communities and homeowners that are still recovering from the devastation of the foreclosure crisis,” said Brown, ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs. “When one home is foreclosed on or abandoned, it has a ripple effect that hurts the value of other homes in the neighborhood. Getting rid of abandoned properties helps to strengthen neighborhoods and reduce crime. I will continue fighting to ensure that Ohio gets its fair share of resources through the Hardest Hit Fund.”“Getting rid of abandoned properties helps to strengthen neighborhoods and reduce crime.”U.S. Senator Sherrod BrownOhio will be awarded a direct infusion of $97.6 million from the HHF to put toward foreclosure mitigation and blight demolition. In addition, the Ohio Housing Finance Agency (OHFA) is eligible to apply for another $250 billion through the HHF. Since 2010, largely through Brown’s efforts, the HHF has awarded more than $570 million to Ohio, which has helped nearly 25,000 homeowners in the state. OHFA has until March 11, 2016 to apply for the additional funding. Along with the additional TARP funding announced by Treasury last month, Treasury also announced that it is extending the drawdown date for the funding from 2017 to 2020.The subject of eliminating blight by reducing the amount of time that properties stay vacant was called an “issue of national concern” by Five Star Institute President and CEO Ed Delgado due to the potential of vacant properties to attract squatters, vandalism, and violent crime. Last month, Delgado met with HUD Secretary Julián Castro to discuss the issue. In November 2015, Delgado delivered opening remarks and moderated two panels—one on transforming blighted communities—at the National Property Preservation Conference (NPPC) in Washington, D.C. In his opening remarks at the NPPC, Delgado called for national solutions for what the vacant and abandoned properties issue and praised Ohio State Bill H.B. 134, a fast-track foreclosure bill aimed at expediting the foreclosure crisis.The bill passed in the Ohio House by a unanimous vote in November and is currently awaiting a vote in the Ohio State Senate. Delgado called Ohio State Bill H.B. 134 “an important template towards the introduction of a national course of solution for vacant and abandoned properties.” 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. Previous: Freddie Mac Prices Credit Risk Transaction at Nearly a Half Billion Dollars Next: Ohio Supreme Court Closes Door on Mortgage Avoidance Actions March 10, 2016 1,423 Views center_img The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Blight Ohio TARP Troubled Asset Relief Program Vacant and Abandoned Properties 2016-03-10 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / The Fight to Eliminate Blight Continues Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Industry Hits A “Momentous Milestone” for Loan Modifications

first_img Tagged with: HOPE NOW Loan Modifications HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, recently released its August 2016 loan modification data which shows that close to 119,000 homeowners avoided foreclosure and received a mortgage solution.“As the August HOPE NOW data report indicates, the housing market continues to normalize and move towards pre-crisis levels,” says Eric Selk, Executive Director for HOPE NOW. “We are extremely pleased to see the industry remain committed to preserving homeownership and helping homeowners avoid foreclosure. The mortgage industry hit a momentous milestone in August. Eight million permanent modifications have been reached since 2007. This is a huge accomplishment by the industry and illustrates the continued work that mortgage servicers are doing to assist those in need.”Total non-foreclosure solutions (the combination of total loan modifications, short sales, deeds in lieu and workout plans) increased 6 percent from July 2016. With approximately 36,000 completed in August, an increase of approximately 11 percent was also seen year-over-year. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP).Of the permanent loan modifications completed, HOPE NOW reports that an estimated 25,000 were through proprietary programs and 10,610 were completed via HAMP.“As permanent modifications remain steady, homeowners are also receiving more ‘upstream’ solutions,” says Selk. “Solutions such as repayment plans and other retentions options being offered to those with short-term delinquency issues. Our members are not only focused on offering viable solutions for at-risk borrowers, but fulfilling quicker results at the time of delinquency.”Total permanent modifications completed reached 8 million, and of that number, approximately 6.4 million have been proprietary modifications. The remaining 1,644,427 have been completed via HAMP.“Serious delinquency still affects more than 1.5 million borrowers – something that everyone should be paying attention to – although this number is close to pre-crisis figures,” says Selk. “As part of an effort to engage more effectively with communities, HOPE NOW continues to host housing roundtables and face-to-face outreach events. Just recently, HOPE NOW hosted its second community roundtable of 2016 in Tampa, Florida (first one in Orange County, California). In partnership with Congresswoman Kathy Castor, HOPE NOW held a roundtable with 50 local housing partners in the Tampa area. Topics of discussion included access to mortgage credit, state of housing, and local assistance programs.”To view the full report from HOPE NOW, click HERE.  Print This Post Demand Propels Home Prices Upward 2 days ago Related Articles HOPE NOW Loan Modifications 2016-10-20 Kendall Baer in Daily Dose, Featured, News The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Industry Hits A “Momentous Milestone” for Loan Modifications About Author: Kendall Baer Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Kendall Baer is a Baylor University graduate with a degree in news editorial journalism and a minor in marketing. She is fluent in both English and Italian, and studied abroad in Florence, Italy. Apart from her work as a journalist, she has also managed professional associations such as Association of Corporate Counsel, Commercial Real Estate Women, American Immigration Lawyers Association, and Project Management Institute for Association Management Consultants in Houston, Texas. Born and raised in Texas, Baer now works as the online editor for DS News. October 20, 2016 2,251 Views Demand Propels Home Prices Upward 2 days ago Previous: The Importance of Spotting (and Curing) Title Defects Before they Rear their Ugly Head Next: Why Are Mortgage Delinquencies Spiking Among Older Americans? Data Provider Black Knight to Acquire Top of Mind 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 Sign up for DS News Daily Home / Daily Dose / Industry Hits A “Momentous Milestone” for Loan Modificationslast_img read more

Dworbell, Inc. Adds Eddie Seiler as VP

first_imgSign up for DS News Daily  Print This Post in Featured, Headlines, Journal, News Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: RE/MAX Acquires Technology Firm booj Next: Veros VeroPACE Will Help PACE Lenders With Compliance The Best Markets For Residential Property Investors 2 days ago Dworbell, Inc. Adds Eddie Seiler as VP Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Featured / Dworbell, Inc. Adds Eddie Seiler as VP About Author: David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago March 5, 2018 2,935 Views Subscribe Tagged with: Company News dworbell inc eddie seiler The Washington D.C.-based Dworbell, Inc., a trade association management firm providing public policy analysis and advocacy, has announced that Edward Seiler, Ph.D. has joined the firm in the role of VP, Research, and Economic Analysis. In this capacity, Seiler will lead economic research for the organizations that Dworbell manages, including the National Housing & Rehabilitation Association (NH&RA), the National Reverse Mortgage Lenders Association (NRMLA), and the National Aging in Place Council (NAIPC).Seiler was previously Chief Housing Economist and Director at Summit Consulting, an analytics firm with expertise in applied economics and mortgage finance. Prior to joining Summit, Dr. Seiler was Director of Economics at Fannie Mae, where he directed the development and implementation of analytical models used to guide credit loss management decisions. He has lectured graduate-level micro-econometrics at Johns Hopkins University and published several peer-reviewed articles. Dr. Seiler was previously employed as a manager at Bates White (an economics litigation consulting firm) and as a post-doctoral fellow at The Hebrew University.He earned his Ph.D. in economics from The University of Chicago, where he was a Fulbright Scholar. The Best Markets For Residential Property Investors 2 days ago Related Articles Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Company News dworbell inc eddie seiler 2018-03-05 David Wharton Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

Why Credit Scores Are Rising Amid National Crisis

first_img Demand Propels Home Prices Upward 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago credit FICO 2020-10-20 Christina Hughes Babb October 20, 2020 1,386 Views in Daily Dose, Featured, Market Studies, News Why Credit Scores Are Rising Amid National Crisis Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Why Credit Scores Are Rising Amid National Crisis Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Tagged with: credit FICOcenter_img The average FICO credit score hit a record high of 711 this past July. This uptick to the score may come as a shock, especially since it has taken place several months “knee deep” amid a global pandemic, FICO representatives told CNBC Make It.Even as tens of millions of American workers are currently unemployed and the majority of the nation is still feeling the pinch of the pandemic—leaving them struggling to pay living expenses and loans each month—the FICO scores went up, and up. But experts have an explanation as to the reasons for the uptick, mainly that the FICO scores don’t shift rapidly, thus aren’t necessarily indicators of the current economic climate.Ethan Dornhelm, the expert in charge of the research and analytic development of FICO scores globally, explained this in a bit more detail: “The FICO score shouldn’t be thought of as a leading indicator or as a predictor of where the economy is headed. In fact, there’s typically a “bit of a lag” between when a major macroeconomic event occurs, such as a recession, and when the average FICO score is going to reflect that.”For instance, when America was hit with the devastating impact of the Great Recession, the average U.S. FICO score did not immediately plummet. Instead, the average FICO score did not drop drastically until the latter part of 2009, which was nearly two years after expert economists officially declared that the recession first began.Also according to Dornhelm, as well as this normal time lapse that is usual with FICO scoring data, experts are pointing to the relief that the federal government and lenders provided at the onset of the COVID-19 pandemic for further reasonings why the lower credit scores were delayed/mitigated.Dornhelm explained: “The degree of coordinated government intervention and stimulus spending is different this time around relative to prior crises.” He then added that various other aid, such as the stimulus payments in the CARES Act, the forbearance programs, and the enhanced unemployment benefits, have also provided a proverbial life raft to borrowers—helping them keep their heads above water during this financially depressed time of struggle. Previous: FHA Announces COVID-19 Forbearance Request Extension Next: Delinquency Rate Doubles Great Recession Peak Andy Beth Miller is an experienced freelance editor and writer. Her main focus is travel writing, and when she is not typing away from her computer at her home in the Hawaiian Islands, she is regularly roaming the world as a digital nomad, and loving every minute of it. She has been published in myriad online and print magazines, is a fan of all things outdoors, and finds life (and all of its business, technological, and cultural facets) fascinating in their constant evolution. She is excited to spectate as the world changes, and have a job that allows her to bring a detailed account of those constant shifts to her readers at home and abroad. Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Andy Beth Miller Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Council may link education grants to Household Charge payment

first_imgNews RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH Facebook Donegal County Council is not ruling out asking for proof of household charge payment from third level grant applicants.Yesterday the council appeared to rule out such a move, but today the Councils Director of Finance said they were considering all options.This week it emerged that Clare County Council had written to applicants seeking proof that their family has paid the charge.And today, Director of Finance on Donegal County Council, Gary Martin, said the local authority here may follow suit…..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/09/gmar11pm.mp3[/podcast]Meanwhile, Cllr Jack Murray has said he is extremely dissapointed that Donegal County Council may be go down the same route as Clare County Council.Cllr Murray says Sinn Fein is looking at the legality of the situation….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/09/murr1pm.mp3[/podcast] WhatsApp Pinterest Facebook Guidelines for reopening of hospitality sector published NPHET ‘positive’ on easing restrictions – Donnelly Previous articleCouncil urging people to register septic tanks as quickly as possibleNext articleCounty Council is not bankrupt – Director of Finance News Highland WhatsAppcenter_img Pinterest Help sought in search for missing 27 year old in Letterkenny By News Highland – September 19, 2012 448 new cases of Covid 19 reported today Three factors driving Donegal housing market – Robinson Twitter Google+ Twitter Council may link education grants to Household Charge payment Google+last_img read more

Mac Lochlainn wants Education Minister to address Moville Gaelscoil crisis

first_img Facebook Pinterest Google+ Pinterest Mac Lochlainn wants Education Minister to address Moville Gaelscoil crisis Homepage BannerNews Guidelines for reopening of hospitality sector published Need for issues with Mica redress scheme to be addressed raised in Seanad also A Donegal Senator is calling on the Education Minister to prioritise funding for the new building for Gaelscoil Cois Feabhail in Moville.The building, which is to be used by the school, was badly damaged in a suspicious fire on Tuesday, and now additional funding will be needed to have the school up and running. Yesterday, the gaelscoil’s principal told Highland Radio that the structural integrity of the remains of the building is being assessed, but at the very least, a new roof will be required.Senator Padraig MacLochlainn says the funding must be provided as soon as possible so the project will be finished at the desired time.He expects a response from the Education Minister within the next number of days………..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/07/padgaelscoiledit.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Almost 10,000 appointments cancelled in Saolta Hospital Group this week WhatsApp Previous articleOrdhan MacNiallais wants the Ulster Final winning feeling againNext articleDoherty hopeful Dungloe Ante-Natal services are close to reinstatement admin center_img Facebook By admin – July 14, 2016 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey RELATED ARTICLESMORE FROM AUTHOR WhatsApp LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Twitter Google+ Minister McConalogue says he is working to improve fishing quotalast_img read more

Drivers urged to exercise caution as temps are set to dip

first_img Google+ Previous articleWife of man killed in Ballyshannon hit and run urges driver to come forwardNext articleEmergency services tackle fire at Altnagelvin Hospital News Highland Dail to vote later on extending emergency Covid powers Dail hears questions over design, funding and operation of Mica redress scheme Twitter WhatsApp By News Highland – November 23, 2012 Facebook Freezing temperatures will lead to dangerous driving conditions overnight (Friday).Met Eireann is forecasting that temperatures will dip as low as minus 4 degrees.It’ll lead to a severe and widespread frost – and icy patches are likely on untreated roads.Motorists are being advised to take particular care.Eoin Sherlock is with Met Eirean[podcast]http://www.highlandradio.com/wp-content/uploads/2012/11/19sherWEATHER.mp3[/podcast] News Man arrested on suspicion of drugs and criminal property offences in Derry Man arrested in Derry on suspicion of drugs and criminal property offences released center_img Drivers urged to exercise caution as temps are set to dip Google+ WhatsApp HSE warns of ‘widespread cancellations’ of appointments next week PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Facebook Pinterest Pinterest RELATED ARTICLESMORE FROM AUTHOR Twitterlast_img read more