Month: May 2021

  • Researchers Say Real Wage Growth Since Recession is Slower Compared to Other Recoveries

    first_img About Author: Brian Honea  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago April 9, 2015 1,129 Views Federal Reserve Bank of Cleveland Housing Market Real Wage Growth U.S. Economy 2015-04-09 Brian Honea Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Researchers Say Real Wage Growth Since Recession is Slower Compared to Other Recoveries 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. While the Bureau of Labor Statistics reported real wage growth of 22 cents year-over-year in February up to $10.54 per hour, researchers from the Federal Reserve Bank of Cleveland have conducted their own study and discovered that real wage growth and real compensation since the end of the recession are slower compared with other recoveries.Researchers Filippo Occhino and Timothy Stehulak from the Cleveland Fed reported that real wage growth per hour – hourly earnings adjusted for inflation – has risen by only 0.5 percent since the end of the recession. While they say temporary factors may explain some of the slow wage growth, the researchers point to longer-term economic changes such as a slowdown in labor productivity (average growth of only 1.46 percent since 2004 and 0.85 percent since 2010) and a decline in labor’s share of income as factors that played a large role in real wage growth depression.Occhino and Stehulak said one reason for slow wage growth was slowly rising prices – though they don’t completely account for the slow wage growth, since wages still rose slowly when the effect of inflation is subtracted. Real wages and real compensation grew by only 1.2 percent and 1.3 percent, respectively, in 2014. The real wage growth reported by Occhino and Stehulak was slightly more than half the growth that was reported by the BLS (2.1 percent) over nearly the same period.”In fact, real wages have been rising slowly for several years,” Occhino and Stehulak wrote. “Measuring from the end of the Great Recession, real wages have barely risen—real compensation per hour has risen only by 0.5 percent, much less than at this point in past recoveries. The lack of strong wage growth has been one factor that has held down the growth of income, consumer spending, and the recovery.”Economists such as Doug Duncan at Fannie Mae have said robust wage growth is necessary in order for the economy to recover and make his prediction come to pass that the economy will “drag housing upward” in 2015. Duncan and others remain optimistic for the economy – and for housing – in 2015 despite recent reports of an economic slowdown in Q1.Looking ahead, the two Cleveland Fed researchers said, “Wage growth will likely pick up in the short run, as inflation rises and labor market conditions strengthen further. In the longer run, whether average real wage growth remains lower than in the past will depend on whether trend productivity growth continues to be low and whether other fundamental economic forces cause further declines in the labor share of income.” Tagged with: Federal Reserve Bank of Cleveland Housing Market Real Wage Growth U.S. Economycenter_img Previous: DS News Webcast: Friday 4/10/2015 Next: RedVision Makes New Appointments for Sales, Operations Leadership Positions Researchers Say Real Wage Growth Since Recession is Slower Compared to Other Recoveries Share Save Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 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 Subscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Related Articleslast_img read more

  • Freddie Mac Offloads More Risk to Private Investors

    first_imgHome / Daily Dose / Freddie Mac Offloads More Risk to Private Investors 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. Demand Propels Home Prices Upward 2 days ago Tagged with: Credit Risk Transfer Freddie Mac STACR Structured Agency Credit Risk The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Credit Risk Transfer Freddie Mac STACR Structured Agency Credit Risk 2016-06-08 Brian Honea The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Previous: Slowing Loan Mods, Liquidations Even Out Next: Baby Boomers in Position to Control Market’s Direction in Daily Dose, Featured, News, Secondary Market Related Articlescenter_img Servicers Navigate the Post-Pandemic World 2 days ago June 8, 2016 1,129 Views The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Freddie Mac is continuing efforts to offload more risk on single-family loans onto private investors. The GSE priced its fifth offering through the Structured Agency Credit Risk (STACR) program this year and 22nd overall was priced at $795 million, according to an announcement from Freddie Mac on Wednesday.The STACR program began in July 2013 as a way for Freddie Mac to transfer a portion of credit risk on single-family loans to investors in the private capital market, according to Freddie Mac.The latest STACR offering, STACR 2016-DNA3, includes a reference pool of newly acquired single-family mortgages with an aggregate unpaid principal balance (UPB) of approximately $26.4 billion, Freddie Mac reported.With the first 21 offerings, Freddie Mac’s STACR issuances to date covered 29.38 percent of the agency’s total book of business. The Federal Housing Finance Agency (FHFA)’s scorecard for 2016 requires the GSEs to lay off credit risk on 90 percent of their newly-acquired loans in categories targeted for transfer, according to the Urban Institute. The FHFA has been conservator for both Fannie Mae and Freddie Mac since September 2008.“We created the agency credit securities asset class in 2013 and have since issued more than $15 billion in STACR debt notes,” said Mike Reynolds, vice president of Credit Risk Transfer for Freddie Mac, in early May. “With (STACR 2016-DNA2, priced on May 3), we saw that market conditions have continued to improve from their lows earlier this year.”“It looks like this asset class is here to stay and is helping us access multiple pockets of capital.”Kevin Palmer, Freddie MacFreddie Mac has three more STACR offerings planned for the remainder of the year for a total of eight in 2016 after issuing eight in 2015, seven in 2014, and two in 2013.On May 20, Freddie Mac announced that the STACR debt notes program had received the prestigious “RMBS Deal of the Year” award by GlobalCapital, a leading financial news and data service covering the capital markets.“The agency credit securities market will celebrate its third birthday in June,” said Kevin Palmer, senior vice president of Credit Risk Transfer for Freddie Mac. “It looks like this asset class is here to stay and is helping us access multiple pockets of capital.” Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Freddie Mac Offloads More Risk to Private Investors Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily last_img read more

  • Attorneys and Servicers Discuss Challenges in Default Servicing

    first_img About Author: Kendall Baer The Best Markets For Residential Property Investors 2 days ago Attorneys and Servicers Discuss Challenges in Default Servicing Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Tagged with: Five Star Conference and Expo Legal League 100 Subscribe The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Servicers and default servicing attorneys came together Tuesday for a day of discussing the challenges for the professionals as well as grow deeper in their knowledge of the industry to pave the path for the future of the default servicing legal profession at the Legal League 100 Fall Servicer Summit during the 2016 Five Star Conference & Expo.The day began with the group gathering for A State of the Industry Panel. The panel, led by Lauren K. Ervin, an in-house attorney with Ocwen Financial Corp., assessed the industry as well as what panelist anticipated to come in the future. Panelists included Todd Barton, VP and Deputy General Counsel for Fannie Mae; Christopher Dove, Director of Operations for the U.S. Department of the Treasury; Yvette Gilmore, VP of Servicer Performance Management for Freddie Mac; and Laura Johnson, Senior Counsel for the Consumer Financial Protection Bureau.After the panel ended, the group broke into roundtable discussions that covered topics such as remaining compliant with current regulations, streamlining foreclosure and bankruptcy processes, political and legislation outlook, navigating business changes and developments, changing the audit Process to meet expectations, and what servicers are looking for in an attorney. The sessions allowed for interactive, intimate discussions on the topics between not just the speakers leading the roundtable but the entire group of attendees as well. These discussions allowed both servicers and attorneys the opportunity to understand each-others points of view and receive input on how to continue to strengthen these relationships.Once the roundtables commenced, the group heard a keynote address from Brian Montgomery, Vice Chairman, Partner, and Co-Founder of the Collingwood Group. Montgomery gave an address that commemorated the 15th anniversary of September 11th. He shared the story of his experience of that tragic day spent with President George W. Bush.  After his address, Ed Delgado, President and CEO of the Five Star Institute, and Laura Bush, First Lady of the United States (2001-2009) held a Q&A style discussion about Mrs. Bush’s life, the work she is currently doing for women’s education globally, and even some discussion about the Texas Rangers.The day finished with a super session for the attendees. The session began with a panel led by Neil Sherman, Partner for Schneiderman & Sherman, P.C., and it discussed the topic of increasing wallet share by diversifying business practices. Panelists for this discussion included Barry Baker, John Berczuk, Daniel C. Chilton, and Marty Stone.William Glasgow, Head of Mortgage Servicing for HSBC Bank USA, then gave an address on his perspective of what servicers are looking for in a law firm. Finally, Victor Draper, EVP for Provest, lead the last panel in the topic of discussing tools and strategies law firm and servicers can employ to decrease expenses, increase productivity, and ensure compliance in today’s regulated market.Editor’s Note: The Five Star Institute is the parent company for DS News and DSNews.com. The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Attorneys and Servicers Discuss Challenges in Default Servicing Demand Propels Home Prices Upward 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post Previous: Servicing and Its New Regulatory Changes Next: Furthering Education Might Increase Homeownership Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Five Star Conference and Expo Legal League 100 2016-09-14 Kendall Baer September 14, 2016 1,617 Views last_img read more

  • Greenspan: Dodd-Frank Stifling Stock Market

    first_img Previous: Non-foreclosure Solutions Remain Strong Next: Ocwen Responds to Suit from CFPB, 21 States Data Provider Black Knight to Acquire Top of Mind 2 days ago Greenspan: Dodd-Frank Stifling Stock Market Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Aly J. Yale Home / Daily Dose / Greenspan: Dodd-Frank Stifling Stock Market Tagged with: Dodd-Frank Greenspan One of the biggest names in finance has come out against the Dodd-Frank Act. On CNBC’s business show “Squawk on the Street” Thursday, Former Federal Reserve Chairman Alan Greenspan said that doing away with Dodd-Frank regulations would improve the country’s financial market.“If you get rid of Dodd-Frank,” Greenspan said in the interview, “it’s going to have a very significant positive impact on the economy.”Greenspan’s comments arrive on the back of an Executive Order issued by President Donald Trump in February that called for the Treasury to review Dodd-Frank—as well as any laws or rules enacted under it, including the Consumer Financial Protection Bureau.According to Greenspan’s own assessment, eliminating Dodd-Frank would provide some relief to the stock market. “In my judgment,” Greenspan said, “that’s where the surge in the stock prices has come from. It’s very difficult to find anything other than that, which I find really positive.”The FDIC recently proposed a blueprint that would allow banks to enjoy some relief from Dodd-Frank regulations. During his CNBC interview, Greenspan also had recommendations for how the new administration can deliver on its promises of major tax cuts.“The simplest way to get tax cuts is to cut spending,” Greenspan said, “and the major area where we have to cut it, or at least slow it down dramatically, is entitlements.”The likelihood of these changes is low. While entitlements like Medicaid, Social Security, and Medicare have long been harangued by Republican Congress members, President Trump vowed not to touch them during his campaign. Newly confirmed Treasury Secretary Steven Mnuchin also echoed those sentiments in late February.Still, it’s what we need to do to lower American’s tax obligations, Greenspan said.”Cutting social benefits or cutting entitlements is the third rail of American politics. And I think the third rail of European politics, everybody else’s politics,” Greenspan said. “If we don’t come to grips with that, we’re not going to solve this problem.” Share Save  Print This Post Aly J. Yale is a freelance writer and editor based in Fort Worth, Texas. She has worked for various newspapers, magazines, and publications across the nation, including The Dallas Morning News and Addison Magazine. She has also worked with both the Five Star Institute and REO Red Book, as well as various other mortgage industry clients on content strategy, blogging, marketing, and more. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img 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 Related Articles April 20, 2017 1,156 Views Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Dodd-Frank Greenspan 2017-04-20 Seth Welborn The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

  • What a Million Dollars Buys in the Housing Market

    first_imgHome / Daily Dose / What a Million Dollars Buys in the Housing Market  Print This Post Share Save May 28, 2018 2,475 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home Prices HouseCanary Housing Market 2018-05-28 David Wharton Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Tagged with: Home Prices HouseCanary Housing Market About Author: Scott Morgan Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Journal, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Previous: Creating the Right Mortgage Team Next: How Many American Households Struggle to Meet Basic Needs? Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago For anyone with $1 million to spend on a house, the best return on investment in terms of the size of the house itself lies 90 minutes northwest of Columbus, Ohio, according to a report by HouseCanary. The average $1 million home in the town of Lima, Ohio, is a little more than 9,400 square feet and sits on four acres.For $106 per square foot, that four-acre property in Lima will, on average, come with five bedrooms and five parking spaces. HouseCanary found similar ROI in Anniston, Alabama, roughly an hour and a half northeast of Birmingham. There, $1 million can buy about 8,300 square feet on five acres, with three bedrooms and five parking spaces. That comes to $120 per square foot. The biggest ROI in terms of land for $1 million is north of Dallas, in Wichita Falls, Texas. There, $1 million will buy 7,800 square feet of house on 60 acres. While homeowners in Lima and Anniston pay, on average, 17 percent of their income to home expenses, residents of Wichita Falls pay 14 percent, according to the report. In all three towns, the median household income is just above $45,000.By comparison to the median million-dollar market, most metros will provide an average of 4,300 square feet for the price, the report stated. One example in the exact middle is Nashville, where $1 million will get four bedrooms, 4,300 square feet, and three parking spaces, sitting on just shy of an acre. Nashville is also typical in terms of how much homeowners spend on their houses—about 30 percent of annual income. On the other end of the spectrum, $1 million will buy you the least in San Jose. There, the report found, $1 million gets 1,500 square feet on about a tenth of an acre. That comes to $635 per square foot. The property also will likely come with three bedrooms and a pair of parking spaces, but the upkeep could prove daunting. Residents in San Jose typically spend three-quarters of their money on their housing expenses every year.Santa Clara and San Francisco put up similar numbers, according to the report. Outside the Bay Area, Honolulu offers the least size and room for the money. The average million-dollar home there is about 1,800 square feet on a 0.15-acre lot, with four bedrooms, two bathrooms, and two parking spots. The price per square foot comes to $542. Residents typically spend two-thirds of their annual salaries on home expenses. Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Demand Propels Home Prices Upward 2 days ago What a Million Dollars Buys in the Housing Market The Best Markets For Residential Property Investors 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

  • Buying vs. Renting: A Financial Perspective

    first_img  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Buying vs. Renting: A Financial Perspective Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save in Daily Dose, Featured, Journal, Market Studies, News Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Previous: The Industry Pulse: Updates on Assurant, Veros, and More Next: Watt: “These Conservatorships are Unsustainable” Break-even Analysis Rent rent vs. buy Zillow 2018-05-23 David Wharton 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] May 23, 2018 2,946 Views In a little under two years, owning a home becomes more financially viable than renting an identical home, according to the latest Zillow Buy-Rent Breakeven Horizon. It takes just under 1 year and 11 months for homeownership to be more beneficial than renting in the first quarter of the year, which is just over a month less than in the previous quarter. Zillow compares the cost of owning versus the cost of renting the same home, considering a 20 percent down payment, a monthly payment on a 30-year mortgage loan, current property taxes, homeowner’s insurance, 3 percent purchase costs, 8 percent selling costs, home maintenance estimates, and federal tax deductions. Zillow compares these costs to renting the same home with a deposit of one month’s rent, monthly rental payment, renter’s insurance, and 5 percent annual investment gains on the sum that would have gone toward a down payment or other homeownership expenses. It generally takes the least amount of time for homeownership to make more financial sense than renting in Southeastern markets and the longest amount of time in “pricey coastal markets,” according to Zillow. Comparing the largest U.S. markets, it takes the least amount of time to break even in Memphis, Tennessee, where it takes just 1.32 years. This compares to 3.7 years to break even on owning a home in Los Angeles, the longest time of any major U.S. metro. Portland, Oregon (3.07 years); San Francisco, California (2.98 years); Washington, D.C. (2.96 years); and San Diego, California (2.94 years), also had long break-even timelines. These markets also have high median home values. Other markets with short break-even points tend to be in the Southeast, including Birmingham, Alabama (1.39 years); Tampa, Florida (1.40 years); Orlando, Florida (1.44 years); and Atlanta, Georgia (1.45 years). In contrast to the high median home values and long break-even points on the West Coast, these Southeastern markets tend to have low median home values. All except Orlando have median home values below the national median. However, as Zillow explains, the factors contributing to the break-even point “can be complex,” ranging from purchasing transaction costs to the potential savings and investment gains that could be earned by investing the cost of a down payment. While many markets with high home values have long break-even timelines and many markets with low home values have shorter ones, there are some outliers. Hartford, Connecticut; Virginia Beach, Virginia; and Milwaukee, Wisconsin, all have home values near the national median. However, their break-even points range between 2.8 years and 3.23 years. Also, while the major U.S. metros tend to have break-even points between Memphis’s 1.32-years and Los Angeles’ 3.7-years, there are some smaller markets with break-even points outside of this norm. There are several smaller markets, mostly in the eastern half of the U.S., where the break-even point for owning a home is less than one year. On the other hand, it takes 7.5 years to break even on owning a home in Idaho Falls, Idaho, and just over six years to break even in Riverton, Wyoming.center_img Related Articles About Author: David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago Buying vs. Renting: A Financial Perspective Demand Propels Home Prices Upward 2 days ago 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 Demand Propels Home Prices Upward 2 days ago Tagged with: Break-even Analysis Rent rent vs. buy Zillow The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

  • Lawmakers Express Displeasure With Revisions to Volcker Rule

    first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Millennials Drowning in Mortgage Debt Next: Mark Calabria on Affordability: ‘A National Problem’ Two members of the House Financial Services Committee condemned recent actions to roll back safeguards put in place after the Great Recession to stop risky trading and investment practices by Wall Street banks. Congresswoman Maxine Waters, Chairwoman of the House Financial Services Committee, and Senator Sherrod Brown, ranking member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to the heads of the Federal Reserve, the Office of the Comptroller of the Currency (COC), Securities and Exchange Commission (SEC), Federal Deposit Insurance Corporation (FDIC), and the Commodity Futures Trading Commission (CFTC) voicing their displeasure in the rollbacks, and requested more information about the 2019 changes in the Volcker Rule. “In short, the 2019 rule is simply a giveaway to Wall Street banks that puts taxpayer-backed banks at risk. We believe the changes to the Volcker Rule and other regulatory changes proposed and implemented by your agencies threaten the stability of the financial system,” the lawmakers wrote. The letter continued by saying amendments to Section 619—the Volcker Rule of the Dodd-Frank Wall Street Reform and Consumer Protection Act—is a cornerstone of the Wall Street Reform Act that Congress passed in the wake of the financial crisis. “These latest amendments (2019 rule) to the Volcker Rule open the door to the very risky, speculative activities that Congress sought to prohibit,” the lawmakers stated. Additionally, numerous aspects of the 2019 ruling are “problematic,” and that all amendments to the original Volcker Rule finalized in December 2013 would allow more proprietary trading by banks or result in less information provided to agencies. “Among the rollbacks in the 2019 rule that alarm us are the: narrowing the definition of ‘trading account,’ including by weakening the short-term intent prong; eliminating metrics reporting; removing activity restrictions on non-U.S. banks; and expanding permitted activity related to covered funds,” the letter says. The Federal financial regulatory agencies announced earlier in October revisions to simplify the Volcker Rule.” Under the revised rule, firms that do not have significant trading activities will have simplified and streamlined compliance requirements, while firms with significant trading activity will have more stringent compliance requirements. Community banks generally are exempt from the Volcker rule by statute. The revisions continue to prohibit proprietary trading, while providing greater clarity and certainty for activities allowed under the law. With the changes, the agencies expect that the universe of trades that are considered prohibited proprietary trading will remain generally the same as under the agencies’ 2013 rule.“The Federal Reserve, FDIC, OCC, SEC and CFTC have all appropriately simplified the Volcker Rule to reduce compliance burdens and provide certainty for markets,” said Mike Crapo, Chairman of the U.S. Senate Committee on Banking, Housing and Urban Affairs in a statement. “I continue to encourage the agencies to consider further revisions to the ‘covered funds’ definition’s overly-broad application to venture capital, other long-term investments and loan creation, which are necessary to improve market liquidity and preserve access to diverse sources of capital for businesses.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Share Save Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago October 22, 2019 1,147 Views 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. Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img  Print This Post in Daily Dose, Featured, Government, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / Lawmakers Express Displeasure With Revisions to Volcker Rule The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: House Finances Services Committee About Author: Mike Albanese House Finances Services Committee 2019-10-22 Mike Albanese The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Lawmakers Express Displeasure With Revisions to Volcker Rule Subscribelast_img read more

  • Finding Opportunity in Opportunity Zones

    first_img Finding Opportunity in Opportunity Zones Home / D&I / Finding Opportunity in Opportunity Zones About Author: Eric C. Peck ATTOM Data Solutions has released its Q1 2021 special report analyzing qualified low-income Opportunity Zones established by Congress in the Tax Cuts and Jobs Act of 2017. ATTOM examined 4,579 zones nationally with sufficient sales data to analyze, meaning they had at least five home sales in Q1 of 2021.The report found that median home prices increased from Q1 of 2020 to Q1 of 2021 in 75% of Opportunity Zones with sufficient data to analyze and rose by at least 10% in close to two-thirds of them. Those percentages roughly tracked trends in areas of the U.S. outside of Opportunity Zones, continuing patterns from Q4 of 2020.Median prices of single-family houses and condos rose from Q1 of 2020 to Q1 of 2021 in 2,771 (75%) of Opportunity Zones with sufficient data to analyze and increased in 1,987 (54%) of the Zones from Q4 of 2020 to Q1 of 2021. By comparison, median prices rose annually in 78% of census tracts outside of Opportunity Zones and quarterly in 55% of them. Year-over-year, median home prices rose at least 10% in Q1 of 2021 in 2,249 (61%) of Opportunity Zones with sufficient data to analyze. Prices also rose that much during that time period in 58% of other census tracts throughout the country with sufficient data.Opportunity Zones are defined in the Tax Act legislation as census tracts, in or alongside, low-income neighborhoods that meet various criteria for redevelopment in all 50 states, the District of Columbia and U.S. territories. Census tracts, as defined by the U.S. Census Bureau, cover areas with 1,200 to 8,000 residents, with an average of about 4,000 people.Prices in these Opportunity Zones lagged behind the national average in Q1, as approximately 43% of zones with enough data still had median prices of less than $150,000. That total was down from 50% a year earlier, as prices inside some of the nation’s poorest communities kept surging ahead with the broader market.”Some of the country’s poorest neighborhoods continued riding the long national boom in home prices during the first quarter of the year, reaping increases that pretty much matched those in more-affluent areas. Those ongoing gains emerged in the latest price data showing values in designated Opportunity Zones rising at about the same pace, or even more, than in other communities,” said Todd Teta, Chief Product Officer with ATTOM Data Solutions. “Home values inside the Zones remain quite low compared to the rest of the U.S., but they are far from immune from the boom. That shows continued interest among homebuyers in marginal areas and continues to bode well for the redevelopment that Opportunity Zone tax breaks are designed to promote.”States with the largest percentage of Opportunity Zones where median prices rose, year-over-year, during Q1 of 2021 included Arizona (median prices up, year-over-year, in 84% of Zones), Idaho (83%), Oregon (83%), Nevada (82%), and Michigan (82%).Of all 4,579 Zones in the report, 1,964 (43%) had a median price in Q1 of 2021 that was less than $150,000 and 786 (17%) had medians ranging from $150,000 to $199,999. The total percentage of Zones with typical values below $200,000 was down from 67% in Q1 of 2020 to 60% in Q1 of 2021.Regionally, the Midwest continued to have the highest portion of Opportunity Zone tracts with a median home price of less than $150,000 (68%) in Q1, followed by the South (51%), the Northeast (43%), and the West (8%). Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: ATTOM Data Solutions Opportunity Zones Tax Cuts and Jobs Act of 2017 Todd Teta  Print This Post Share Save Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Related Articles Servicers Navigate the Post-Pandemic World 2 days ago ATTOM Data Solutions Opportunity Zones Tax Cuts and Jobs Act of 2017 Todd Teta 2021-05-20 Eric C. Peck 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. in D&I, Daily Dose, Featured, Journal, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Servicers and Regulators Map Out Post-Moratoria Framework  Next: Why Homeowners Aren’t Selling in This ‘Super Sellers’ Market 9 days ago 607 Views The Best Markets For Residential Property Investors 2 days agolast_img read more

  • New HSE Service Plan will put further pressure on LUH – Mc Conalogue

    first_img Pinterest Facebook Facebook NPHET ‘positive’ on easing restrictions – Donnelly Twitter Previous articleMc Brearty seeks nomination as chair of Donegal JPCNext articleSupertrawlers not discussed during EU Fisheries Council meeting admin Pinterest Three factors driving Donegal housing market – Robinson Google+ The HSE’s service plan for 2016, worth almost 13 billion euro, has been heavily criticised by some opposition politicians.The HSE’s admitted there’s a funding shortfall of around 100 million euro for next year.Fianna Fail says the plan will see reduced services, longer waiting lists and cuts to medical cards.Donegal Deputy Charlie McConalogue says in light of the news elective surgery being scaled back, the service plan is sure to put even more pressure on Letterkenny University Hospital…….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/12/charlieserviceplan.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Twitter Calls for maternity restrictions to be lifted at LUH center_img WhatsApp By admin – December 17, 2015 Nine Til Noon Show – Listen back to Wednesday’s Programme Google+ RELATED ARTICLESMORE FROM AUTHOR New HSE Service Plan will put further pressure on LUH – Mc Conalogue Homepage BannerNews GAA decision not sitting well with Donegal – Mick McGrath WhatsApp Guidelines for reopening of hospitality sector publishedlast_img read more

  • Strabane councillor defends locals after Twitter language survey

    first_img Twitter Three factors driving Donegal housing market – Robinson News LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – September 11, 2014 Google+ NPHET ‘positive’ on easing restrictions – Donnelly Pinterest Previous articleUpdate – Search stood down after nothing is found following Bloody Foreland “flares”Next articleStaff member suspended as PSNI probe potential fraud in Stormont Speaker’s Derry office News Highland Facebook Calls for maternity restrictions to be lifted at LUH Google+center_img WhatsApp Pinterest Guidelines for reopening of hospitality sector published A Councillor has come out in defence of the people of Strabane after a survey found they were ranked the fifth in the UK for the use of offensive language on Twitter.Councillor Patsy Kelly has called on those who carried out the survey to explain how they come to their conclusions.He says that while most people will take the survey with a pinch of salt, it needs to be stressed that the findings are not reflective of the people off Strabane……….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/09/patsyfuckingkelly.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApp Strabane councillor defends locals after Twitter language survey Facebook RELATED ARTICLESMORE FROM AUTHOR Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this weeklast_img read more