Home Sellers Concerned About Economy But Not Enough to Delay Plans

first_imgHome Sellers Concerned About Economy, But Not Enough to Delay Plans in Data November 1, 2013 423 Views Sharecenter_img In the aftermath of the federal government shutdown, “”Redfin Research Center””:http://www.redfin.com/research/reports finds home sellers harbor concerns about the state of the economy and declining optimism toward selling their homes.[IMAGE]””Almost certainly due to the U.S. government shutdown and debt ceiling battle in October, sellers this quarter were most worried about the state of the U.S. economy, with 39 percent naming ‘general economic conditions’ as a concern about listing their home,”” Redfin stated Thursday in its “”_Real-Time Seller Survey._””:http://www.redfin.com/research/reports/real-time-market-sentiment/2013/home-sellers-disappointed-43-percent-find-buyer-interest-waning.html The survey is conducted once per quarter over a one-week time period, across about 24 major metros. The number of survey respondents who say now is a good time to sell their homes fell significantly from 48 percent in the third quarter of this year to 34 percent in this quarter. Still, 45 percent said now is an “”ok”” time to sell their homes, and just 11 percent say now is a “”bad”” time to sell their homes. [COLUMN_BREAK]However, while home sellers may be worried about the economy, their concerns have not deterred their plans to sell. Seventy-eight percent of survey respondents said the government shutdown and debt ceiling debate had no bearing on their plans to sell their homes. Only 9 percent said they put off selling their home because of the shutdown and national fiscal debate. Additionally, 43 percent of survey respondents who have listed their homes for sale say they have received less buyer interest than they expected. “”Perhaps sellers still base their expectations of buyer demand on the spring and summer housing frenzy,”” Redfin said. “”They may not recognize that the market has shifted under their feet, so even stronger-than-normal autumn demand seemed like a let-down.”” “”Redfin””:http://www.redfin.com/ real estate agent Paul Reid, of Riverside, California, has found a decline in buyer demand but says homes are still receiving one or two offers within their first week on the market compared to 10 previously. The biggest difference Reid noted was “”buyers are more emboldened.”” “”Some are making offers below list price and contingent on the sale of their home… and winning,”” he said. Regardless, 27 percent of homeowners said buyer demand met their expectation, and 34 percent said buyer demand exceeded their expectations. After concerns about the economy, the second-most cited concern for home sellers in the Redfin survey was low inventory. Thirty percent of survey respondents reported concerns about the limited number of homes available for them to purchase after they sell their current homes. Agents & Brokers Attorneys & Title Companies Demand Home Prices Housing Supply Investors Lenders & Servicers Redfin Service Providers 2013-11-01 Krista Franks Brocklast_img read more

Big Investors Shore Up Stock in Fannie Freddie

first_imgBig Investors Shore Up Stock in Fannie, Freddie in Daily Dose, Featured, Government, News, Secondary Market October 13, 2014 553 Views Two major investors have shored up their stock in Fannie Mae and Freddie Mac after a judge dismissed two lawsuits regarding the sweeping of GSE profits into the U.S. Department of Treasury, causing the price of GSE stock to plummet.William A. Ackman, head of Pershing Square, and Bruce Berkowitz, head of Fairholme Capital, have both added to their respective stakes in the two GSEs.  In the last week of September, Judge Royce Lamberth threw out lawsuits filed by Fairholme and Perry Capital against the government claiming that the sweeping of GSE profits into Treasury was illegal. The judge ruled the sweeping of the profits was legal under the Housing and Economic Recovery Act.Pershing Square filed two similar lawsuits against the government in mid-August, and those suits are still pending. Fairholme and Perry have each filed an appeal of the judge’s decision to dismiss their lawsuits. Pershing Square no longer regularly reports its holdings in Fannie Mae and Freddie Mac, but it is known that the New York-based hedge fund is the largest non-government owner of GSE common stock.”Fairholme’s conviction in its Fannie Mae and Freddie Mac positions has not changed, and Fairholme actively monitors all of its positions – particularly during periods of market overreaction,” a source familiar with Fairholme said.Pershing Square could not immediately be reached for comment.The share price for both Fannie Mae and Freddie Mac experienced gains of more than 5 percent last week after the announcements by Ackman and Berkowitz, but the price of shares for both is still down by more than 30 percent since the judge’s ruling.The government seized control of Fannie Mae and Freddie Mac back in September 2008 at the height of the nation’s financial crisis, after which Treasury provided $188 billion to bail out the companies. Fannie Mae and Freddie Mac have since become profitable and have returned $218.7 billion in dividends to taxpayers. The Obama administration wants to phase out the two GSEs, which have been in conservatorship since the government takeover six years ago.center_img Share Fairholme Capital Fannie Mae Freddie Mac Investors Pershing Square 2014-10-13 Seth Welbornlast_img read more

Report Details Highlights and Lowlights of 2014

first_imgReport Details Highlights and Lowlights of 2014 Forecast Home Prices Housing Supply Mortgage Rates New Home Sales Realtor.com 2014-12-24 Tory Barringer December 24, 2014 472 Views in Daily Dose, Data, Featured, Newscenter_img It’s been a rollercoaster year for the U.S. housing market, but analysts at Realtor.com say the patterns seen in 2014 could be the foundation for more stable growth in the coming year.Earlier last month, the company predicted a comeback in first-time homebuyers as young adults prepare to take the next step in their lives amid improving economic conditions. With job growth and home inventory making strides toward recovery and mortgage rates remaining historically low, Realtor.com expects the momentum seen this year will carry over into the next.”Overall, this year’s housing market showed steady advances over 2013 with significant improvement in key housing metrics, despite some remaining challenges,” said Jonathan Smoke, chief economist for Realtor.com. “Increases in job creation and gross domestic product have had a significant impact on consumer confidence and home buyer demand. Paired with historically low interest rates, these factors kept properties moving quickly.”In its year-end review, Realtor.com outlined some of the major trends seen in 2014 that signal a strengthening housing recovery, including:Improving economic fundamentals: After coming off the start line in a stagger, the U.S. economy bounced back from a weak first quarter and showed the strongest growth seen in years. On Tuesday, the Bureau of Economic Analysis reported that third-quarter growth came in at an annual rate of 5.0 percent—a reversal of Q1’s contraction of 2.1 percent. Meanwhile, monthly payroll numbers continue to look encouraging, inspiring more confidence among Americans.Continually low mortgage rates: While interest rates remain above the rock-bottom lows seen in 2013, they’re still averaging around 4 percent for 30-year fixed-rate products, even as the Federal Reserve takes a less dovish approach to monetary policy. Realtor.com attributes the trend to global economic weakness, along with actions by the European Central Bank and other Asian banks to battle recessionary conditions.Decelerating home price gains: While ongoing price increases had some commentators worried about a new housing bubble in the making, the large-scale slowdown of home price growth has brought the trend more in line with historical performance.Declining distressed sales: Foreclosures and short sales continued to fall throughout the year—and while that might have put a drag on total sales volumes, the share of non-distressed transactions grew over last year, indicating a healthier market.Investor pullback: Going hand-in-hand with the drop in distressed sales, the retreat of investors from the housing market created more room for traditional buyers, driving down competition and putting a cap on prices.On the other hand, there remain a few headwinds that are likely to be a problem in the next year:Tight credit standards and limited mortgage availability: While there’s been some debate on the issue of loosening lending criteria, mortgage data over the past 12 months indicates credit standards have seen little change, preventing many households from taking advantage of low interest rates. By Realtor.com’s estimate, the “tight spread between approved and declined FICO Scores shut out nearly half of the potential population this year.”Tight inventory: While inventory has seen some progress at the national level, supply has still failed to keep up with demand. In many markets, the months’ supply of new and existing homes remains under the normal balance between a buyers’ and sellers’ market.Low levels of first-time buyers: According to recent data from the National Association of Realtors (NAR), the share of first-time homebuyers fell this year to its lowest in close to three decades. On the bright side, “the first-time buyer share is showing signs of modest improvement by the year-end,” noted NAR Chief Economist Lawrence Yun. As federal agencies push to expand low-cost housing options, advocates hope to see a greater presence from first-timers in 2015.Record levels of renters and climbing rent prices: The national homeownership rate continues to look weak at 64.4 percent, indicating more adults are renting rather than buying. Unfortunately, as rent increases outpace home price growth, analysts are concerned that today’s renters are unable to save to become tomorrow’s buyers.Lack of recovery in homebuilding and weakness in new home sales: The new home market has struggled over the course of the year, and despite increasing confidence levels, homebuilders aren’t breaking ground on as many homes as some would hope—especially in the lower price tiers. “New home prices increased substantially again this year, revealing that higher priced product is limiting the demand,” Realtor.com said. Sharelast_img read more

OCC Works to Decrease Regulatory Burden on National Banks FSAs

first_img in Daily Dose, Government, Headlines, News Community National Banks Economic Growth and Paperwork Reduction Act Federal Financial Institutions Examination Council Federal Savings Associations Office of the Comptroller of the Currency 2015-05-06 Staff Writer May 6, 2015 583 Views OCC Works to Decrease Regulatory Burden on National Banks, FSAscenter_img The Office of the Comptroller of the Currency (OCC) took steps toward reducing the regulatory burden placed on community national banks and federal savings associations (FSAs) by participating in an outreach meeting as part of the Economic Growth and Paperwork Reduction Act (EGRPRA) on Monday.Thomas J. Curry, comptroller of the currency, led discussions at the meeting, which is the third in a series of meetings under the EGRPRA.According to Curry, the OCC is working on an interagency basis and with the Federal Financial Institutions Examination Council (FFIEC) to make regulatory compliance easier for FSAs and national banks – particularly those on the smaller side.“Smaller banks and thrifts don’t have the same kind of resources that large institutions can bring to bear on regulatory compliance,” Curry said, “and if we can eliminate unnecessary rules and streamline others, we can make it easier for these institutions to serve the economic needs of their communities.”Curry even said there would be an outreach meeting the future that would specifically focus on rural banks, which he said have “their own unique challenges.”In his speech, Curry recognized that regulations are, by nature, burdensome, but he said it’s the ever-increasing regulatory chances that have him concerned.“What worries me is the way that the regulatory rulebook builds up over time, adding layer after layer of requirements that can be quite onerous for small banks,” Curry said. “So we at the OCC are taking this process very seriously.”After Curry’s introduction panelists and audience members were allowed to ask questions and voice concerns about regulatory compliance. They could also submit ideas for improving or bettering the process.“We will consider carefully all of the comments received today,” Curry said, “and a summary will be published on the regulations.gov Web site and included in our report to Congress.”So far, the OCC has submitted three proposals to Congress that aim to eliminate regulatory burden. The first would change the asset threshold to allow more institutions a longer, 18-month examination cycle. The second proposes that community banks be exempt from the Volcker Rule, while the third would provide FSAs an opportunity expand their business model to better meet the needs of the community.But as to when these proposals–or any regulatory reform, for that matter—would go into effect, Curry said it could be a while.“While this process will unfold over some time, I can assure you that we at the OCC will not wait until it is over to make changes when a solid case has been made for reform,” Curry said. “If it is clear that a regulation is unduly burdensome, and if we have authority to make changes to eliminate that burden, we will act. However, many regulatory requirements are rooted in laws passed by Congress, and changes may require legislative action. In those cases, we will work with Congress to remove unnecessary burdens.”See all of Curry’s comments at OCC.gov Sharelast_img read more

Ocwens Ratings Revised from Stable to Positive

first_img September 15, 2015 457 Views Ocwen’s Ratings Revised from ‘Stable’ to ‘Positive’ Fitch Ratings Ocwen Financial Corporation Positive Stable 2015-09-15 derektempleton Ocwen Loan Servicing, LLC recently received an upgrade in their rating outlook from stable to positive due to stronger risk management framework and management oversight, according to a Servicer Report from Fitch Ratings.In February 2015, Ocwen experienced rating downgrades to stable due to weak corporate governance and operational control framework. However, in June 2015, the company’s ratings were pushed up to positive as Ocwen strengthened their risk management framework and management oversight.Among the ratings, which were all labeled as RPS4 were: Primary Prime, Primary Alt-A, Primary Subprime, Primary HELOC, and Specialty Closed-End Second Lien.One of the key rating drivers was Ocwen’s commitment to alleviate governance and operational control weaknesses within the company, which include changes to its “three lines of defense” approach to risk management, expansion of regulatory compliance and compliance testing departments, and completion of a risk and control self-assessment (RCSA) process.Another contributor to Ocwen’s rating change was a shift in focus to PLS servicing, where the company initiated a strategy to sell off a large portion of it mortgage servicing rights (MSRs). The company has closed or entered agreements to sell MSRs on about $90 billon in unpaid balance (UPB) of performing agency loans.Fitch also reported that Ocwen’s use of a highly integrated technology environment and concentration on off-shore servicing operations were also major contributors to the upgrade.Although Ocwen’s servicing operation has grown more than 300 percent in the past serveral years, their portfolio continues to decrease. Fitch found that the company has serviced 2,361,220 loans totaling $376.6 billion including 1,252,409 totaling $195.6 billion in non-agency residential mortgage-backed securities (RMBS) transactions as of March 31, 2015.Ocwen’s portfolio also includes 3.9 percent non-agency first lien prime, 8.1 percent first lien Alt-A, 28.6 percent first lien subprime, 1.7 percent HELOC, and 2.0 percent closed-end second liens by loan count.Click here to view Fitch Ratings’ complete Servicer Report.center_img Share in Daily Dose, Featured, News, Servicinglast_img read more

Mortgage Fraudsters Ease Up in Q2

first_imgMortgage Fraudsters Ease Up in Q2 October 15, 2015 427 Views in Daily Dose, Data, Featured, Market Studies, News, Origination, Uncategorized As interest rates continue to lower and home values rise, mortgage fraud application risk has fallen 8.9 percent from the second quarter of 2014 to the second quarter of 2015, according to CoreLogic’s October 2015 Mortgage Fraud Report.The Mortgage Application Fraud Risk Index showed that approximately 12,814 of mortgage applications, or 0.67 percent, contained fraud in the second quarter of 2015. Last year, during the same time, 11,100 mortgage applications, or 0.69 percent, contained indications of fraud.The index calculates fraud risk based on the share of loan application with a high risk of fraud. The index is standardized to a baseline of 100 for the share of high-risk loan applications nationally in the third quarter of 2010. Each one point change represents a 1 percent change in the share of mortgage applications have a high risk of fraud.CoreLogic points out two factors that are affecting declining fraud risk rate: interest rates and home values.Declining interest rates from 2013 through April 2015 are welcoming more qualified buyers in the refinance market and lowering mortgage fraud risk. In addition, higher home values are adding equity to homes, which allows homeowners with previously marginal equity to purchase a new property, refinance, or obtain a home equity loan.Susan Allen, SVP, Mortgage Analytics at CoreLogic noted that “although overall fraud trends are stable to decreasing for most of the country some geographies warrant scrutiny.”The Miami, Florida metro currently ranked number one in terms of mortgage fraud risk, with an index of 339, down 9.1 percent year-over-year and down 2.9 percent quarter-over-quarter.”One such area is the Miami CBSA, which ranks atop the CoreLogic fraud list of metropolitan areas. Of particular concern is that house prices in Miami appear to be overheated, as indicated by the CoreLogic Market Condition Indicators. Moreover, house prices in the Miami CBSA have been accelerating at a far greater pace than have rents for single family homes, suggesting that prices may not be a good indicator of sustainable value. This combination of risk factors makes areas like Miami worth paying attention to.”Tampa, Florida; Orlando, Florida; North Port, Florida; and New York City, New York wrapped up the top five metro areas with the highest risk indices.Click here to view the full report.center_img Share CoreLogic Miami Mortgage Fraud Risk 2015-10-15 Staff Writerlast_img read more

Invitation Homes Adds Two Senior Executives

first_imgInvitation Homes Adds Two Senior Executives April 26, 2016 595 Views in Headlines, News Home Leasing Invitation Homes Single Family Rental Market 2016-04-26 Seth Welborncenter_img Share Holly CostelloJiggs FosterInvitation Homes, a nationwide provider of home leasing headquartered in Dallas, Texas, has announced the addition of two senior executives, Elizabeth “Jiggs” Foster and Holly Costello.Foster joins the Invitation Homes management team as SVP of marketing and Costello has been named VP for operations with responsibility for Central and North Florida.“I am delighted to welcome Jiggs and Holly to the Invitation Homes team,” said Invitation Homes CEO John Bartling. “Jiggs and Holly bring to Invitation Homes the knowledge, leadership skills and experience that will continue to position us to seize opportunity in the home leasing arena. As the premier company in the single family rental industry, we’re excited to be attracting top talent to our growing company.”Foster brings 25 years of leadership experience across industries to Invitation Homes. As SVP of marketing, she will lead the company’s marketing initiatives. Her experience includes positioning and managing successful brand portfolios with Procter & Gamble, Dr Pepper, and many companies. Most recently, Foster was with Trion Consulting, a boutique firm with clients that included Johnson & Johnson, McKesson, and Abbott Labs. She was a CPA with Arthur Andersen early in her career. Foster has an undergraduate degree in business and accounting from Tulane University and an MBA from Duke University’s Fuqua School.Costello, who has a 25-year career in the property management industry, will have operational oversight for approximately 6,000 homes across Florida as VP for operations with Invitation Homes. Costello’s most recent position before joining Invitation Homes was VP of the Multifamily Division and Vice President Navy Military Division of Balfour Beatty Communities, where she served for nine years. She has also served as SVP with Walden Residential. Costello attended Florida State and the University of South Florida and has achieved honors in the industry that include a Certified Property Management Designation from the Institute of Real Estate Management (IREM) and Certified Property Manager of the Year by IREM in 2014. Costello is currently serving as president of IREM West Coast Florida.last_img read more

Fannie Mae Upgrades Desktop Underwriter

first_img Fannie Mae has announced the implementation of enhancements to its Desktop Underwriter (DU) Version 10.0 aimed at providing more simplicity and certainty to lenders.DU 10.0’s goal is to help lenders by using trended credit data—the first widespread use of trended credit data in the mortgage industry—to provide enhanced credit risk assessment, new underwriting capabilities to serve borrowers with no traditional credit, and to serve borrowers who own multiple financed properties.“Desktop Underwriter transformed the industry when it was introduced over 20 years ago. (These) DU 10.0 enhancements highlight the continued investments and improvements we’re making in our technology to be better partners for our customers, and to provide access to mortgage credit for creditworthy borrowers,” said Marianne Sullivan, SVP, Single-Family Business Capabilities, Fannie Mae. “We continue to listen to our customers and make improvements to DU that take into account how our lenders tell us they want to work and to help them better serve today’s market.”The enhancements to DU 10.0 include:Using trended credit data for credit risk assessment: Considering monthly payment amounts a borrower has made on revolving accounts for the past two years; providing lenders with a more comprehensive risk assessment by offering more insight on a borrowers’ tendency to pay off revolving lines of credit each month; and giving borrowers more control over their credit evaluation and increasing the likelihood that DU will recommend borrowers for approval who regularly pay off (or pay more than the required amount) of revolving debt.Automated underwriting for borrowers with no traditional credit: DU 10.0 helps lenders more efficiently serve borrowers who are without a traditional credit history by automating and streamlining an underwriting process that was previously manual and time-consuming. The new system requires at least two non-traditional credit sources to be verified, and at least one of these sources must be housing-related.Automated underwriting for borrowers with multiple financed properties: The enhancements provide lenders with a simplified multiple financed properties policy, simply for the underwriting process for lenders, improve operational efficiency, and help ensure fewer eligibility overlays, automate remaining eligibility requirements, and determine required reserves for all financed properties. in Featured, News, Secondary Market Share September 27, 2016 564 Views center_img Desktop Underwriter Fannie Mae Lenders 2016-09-27 Seth Welborn Fannie Mae Upgrades Desktop Underwriterlast_img read more

The True Cost of Poor Credit for Homeowners

first_img in Daily Dose, Data, Featured, News, Origination The True Cost of Poor Credit for Homeowners January 8, 2018 659 Views Sharecenter_img Borrowers with lower credit scores are likely to be paying more in additional costs in mortgage according online loan marketplace, LendingTree’s Mortgage Offers Report for December 2017.According to the report, consumers with the highest credit scores (760+) saw offered APRs of 4.26 percent in December, against 4.56 percent for consumers with scores of 680-719. The APR spread of 30 basis points between these score ranges was 3 points wider than in November and the widest since this data series began in April 2016. “The spread represents nearly $15,000 in additional costs for borrowers with lower credit scores over 30-years for the average purchase loan amount of $233,586. The additional costs are due to higher interest rates, larger fees or a combination of the two,” said Tendayi Kapfidze Chief Economist at LendingTree.The report, which was released on Monday indicated that December’s best offers for borrowers with the best profile had an average annual percentage rate (APR) of 3.8 percent for conforming 30-year fixed purchase loans, up from 3.75 percent in November. The report contains data from actual loan terms offered to borrowers on LendingTree by lenders, and helps to empower consumers by providing additional information on how their credit profile affects their loan prospects.In terms of refinance loans, the report indicated that refinance loan offers were up 1 basis point to 3.7 percent. For the average borrower, purchase APRs for conforming 30-yr fixed loans offered on LendingTree’s platform were up 12 basis points to 4.42 percent, the highest since July 2016. The loan note rate hit the highest since March 2016 at 4.32 percent and was up 14 basis points from November. “We prefer to emphasize the APR as lenders often make changes to other fees in response to changing interest rates,” Kapfidze said.The report indicated that while refinance APRs for conforming 30-yr fixed loans were up seven basis points to 4.31 percent, the credit score bracket spread widened to 24 from 20 basis points, amounting to $12,000 in extra costs over the life of the loan for lower credit score borrowers given an average refinance loan of $241,973. Average proposed purchase down payments have been rising for eight months and reached $63,740 in December, the report noted. APR Borrowers Consumers Homebuyers LendingTree mortgage 2018-01-08 Staff Writerlast_img read more

The Preparation Before the Storm

first_img 2018-07-23 Kristina Brewer See more stories about Disaster Preparedness below:Mortgage Servicing Industry Braces for Next DisasterHUD Greenlights $5B Texas Disaster Recovery PlanPending Home Sales Underperform for Fifth Straight Month in Daily Dose, Featured, Headlines, journal, News, Servicing The Preparation Before the Storm According to the National Oceanic and Atmospheric Administration (NOAA), Hurricanes Harvey, Irma, and Maria caused an approximated $265 billion in damages, impacting the U.S mainland and territories. Three tropical storms and four hurricanes made landfall in the United States, including Puerto Rico—the most hurricane landfalls since 2005.With one of the most impactful hurricane seasons in recent memory, the consequences still linger for many thousands of homeowners and servicers in these affected areas. A recent article from the Wall Street Journal outlined the increase in federal flood policies covering Florida homes and small businesses from September 2017 to May 2018, rising to 1.7 million—a 2 percent increase. The number of federal flood policies in Puerto Rico spiked 77 percent, to 9,199. Texas increased 17 percent, to 702,800.With the Atlantic hurricane season nearly two months underway, Americans are reflecting and preparing for the potential of storms ahead.”The mortgage servicing industry learned many painful lessons in the aftermath of 2017’s very busy storm season,” said Denis Brosnan, President and CEO of Dallas-based DIMONT, a provider of specialty insurance and loan administration services for the residential and commercial financial industries in the United States. “The value of an insurance audit cannot be understated. Servicers need to be aware of gaps or deficiencies in coverage on loan collateral before an expensive storm season occurs.”Data from CoreLogic found that 6.9 million homes are at risk of hurricane storm damage in the 2018 season, with $1.6 trillion in potential reconstruction costs on the line.”It is also critical that mortgage servicers act fast once storms actually occur,” Brosnan said. “In 2017, many servicers struggled to scale up and this caused expensive delays that could have been avoided. Another important lesson was that servicers needed to do a much better job communicating with homeowners. The lack of communication not only caused chaos among servicers’ disaster recovery teams but damaged their reputations with homeowners.”An upcoming Disaster Preparedness Summit—hosted by the Five Star Institute, DIMONT,  and Five Brothers Asset Management Solutions—will focus on answering questions about how servicers can better communicate with homeowners in the aftermath of a disaster, what changes can be implemented to help combat fraud, and how the industry can work to improve cohesion, understanding, and speed to execution.Some of the key topics that will be discussed include a review of 2017’s disaster impact, the outlook for 2018 disaster areas, how to service loans in impacted areas, and strengthening the relationship between servicers and customers. The summit will be hosted at the Hyatt Regency in Dallas, on Wednesday, July 25. The summit is co-hosted by Auction.com, Apex Asset Management Group, ArkForecast, Cyprexx, DLS Servicing Consultants, Laudan Properties, Mortgage Contracting Services, Vacant Property Security, LLC, RES.NET, and WeatherCheck. July 23, 2018 511 Views Sharelast_img read more

Factors Shaping the Purchase Loans Market

first_img in Daily Dose, Featured, News, Origination Share The share of purchase loans closed in September increased to 71 percent of total closed loans, according to data from Ellie Mae’s Origination Insight Report. The report indicated that closed refinance loans returned to their July average represented 29 percent of total closed loans.“We see refinances remain at a low percentage of aggregate closed loans and purchase inventory continues to be tight as we move into the fall,” said Jonathan Corr, President, and CEO of Ellie Mae.The report found that the percentage of adjustable-rate mortgages (ARMs) increased to 7.2 percent from 6.6 percent in August as the 30-year fixed-rate interest for all loans decreased for the first time in 2018 in September to 4.91 percent from a high of 4.92 percent in August.“We did see the first reduction in interest rates this month and with that, the percentage of ARMs began to increase. However, we believe that the seasonal decline in home buying and continued affordability constraints will shape the purchase market,” Corr said.September saw the closing rates for all loans rising to 71.1 percent—the highest percentage in 2018. The closing rate for purchase loans rose slightly to 76.4 percent from 75.9 percent in August and those for refinance loans increased from 63.5 percent in August to 64.4 percent in September.However, the time to close all loans increased to 44 days during the month, up by a day from 43 in August, the report said. While the time to close refinances loans also increased by four days from 38 in August to 42 in September, the time to close purchase loans remained steady at 45 days.Looking at consumer credit scores, the report indicated that the overall FICO scores increased by three points to 727 in September. Breaking these up, the report indicated that 70 percent of all closed loans had FICO scores over 700 while 72 percent of purchase loans had FICO scores over 700. Sixty-five percent of refinances had FICO scores over 700.During the month, loan-to-value held at 79 for the second consecutive month. The average debt-to-income ratio decreased to 25/39. October 18, 2018 671 Views center_img ARMS Ellie Mae FICO Score loans mortgage Purchase Loans Refinance 2018-10-18 Radhika Ojha Factors Shaping the Purchase Loans Marketlast_img read more

He knows hes here to help bring the young guys

first_imgHe knows he’s here to “help bring the young guys” around and be a role player.One of those young guys is his cousin, O’Brien Schofield. “Good to see him. Still not sure what he has going on with that hairdo.” Schofield has bleached a stripe down the middle of his hair.—Among the players waiting for the new collective bargaining agreement to be completed thus allowing them to practice (hopefully Thursday, August 4) is cornerback Michael Adams.“I might hit the first three people that I see catch a ball.”Adams is anxious to show off his “bionic arm” after off-season shoulder surgery.—Patrick Peterson has switched numbers. He’s now #21 while Hamza Abdullah is #23. D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ Another day, another new player.Vonnie Holliday, acquired in the deal that sent Tim Hightower to Washington, made his Cardinals debut Wednesday morning.Holliday was on the sideline watching practice even though he had practiced three times with the Redskins prior to the trade.A 14-year veteran, Holliday called the trade a “little bit of a surprise” but then added that “the situation here (in Arizona) is better.” Comments   Share   Top Stories center_img Nevada officials reach out to D-backs on potential relocation What an MLB source said about the D-backs’ trade haul for Greinke Cardinals expect improving Murphy to contribute right awaylast_img read more

Nevada officials reach out to Dbacks on potential

first_img Nevada officials reach out to D-backs on potential relocation I think that fans, analysts, critics and the Cardinals themselves would feel more optimistic about the 2012 season if they record a “W” in their season opener on their home turf. After all, the Cardinals went 1-4 in the preseason and were less than impressive in all five games.“Playing at home, we’ll have a good crowd; they’ll be excited about our team,” Whisenhunt said. “We would like to represent ourselves well. I think that’s one of our focuses but I don’t think that you can get so wrapped up that it’s a make or break game for you the first game of the year.”As for facing a division opponent right out of the gate, Arizona and Seattle split the two games last season with each team winning at home. Whisenhunt seemed to change his tune about the importance of the season opener by the time his press conference was coming to a close on Wednesday. “It’s an important game for us, no question about it. It’s a division game at home,” Whisenhunt said. “We’ve done well at home and any time you play a division game it’s an important game. I’m very glad that we have it at home and I’m glad that we have a chance to put a good foot forward for our fans.” 0 Comments   Share   The Cardinals wrapped up the 2011 with a 4-2 record against the NFC West. Hopefully after Sunday they’ll be 1-0 in 2012. The Arizona Cardinals are getting ready to play games that actually count starting Sunday when they host the Seattle Seahawks at University of Phoenix Stadium. By all accounts, this would seem like a “must win” for Arizona on their home turf against a division opponent, but head coach Ken Whisenhunt doesn’t necessarily agree. “Well it’s the first game, the first game of 16,” Whisenhunt said. “So it’s not going to make or break your season, but there’s been a lot of negativity about our team in training camp and through the season and we want to start out well for our fans.” D-backs president Derrick Hall: Franchise ‘still focused on Arizona’ What an MLB source said about the D-backs’ trade haul for Greinke Top Stories Cardinals expect improving Murphy to contribute right awaylast_img read more

The reports are true RMendenhall is retiring fr

first_imgThe reports are true:@R_Mendenhall is retiring from the NFL. Rashard will explain why in his own words very soon. Stay tuned.— Mike McCartney (@MikeMcCartney7) March 9, 2014 Grace expects Greinke trade to have emotional impact Top Stories In six NFL seasons, the Illinois product rushed for 4.236 yards and 37 touchdowns. Prior to joining the Cardinals in 2013, Mendenhall spent five seasons with the Pittsburgh Steelers, rushing for more than 1,000 yards in 2009 and 2010.Last season, with the Cardinals, Mendenhall logged 687 yards rushing in 217 attempts, fumbling a career-high four times over the course of 15 games.The former first-round pick carries a Super Bowl ring into his retirement, thanks to his roster spot on the Steelers team which beat the Cardinals in Super Bowl XLIII.Teams told Cardinals UFA RB Rashard Mendenhall is, in fact, retiring, per sources. Mendenhall hinted at in a Feb. 25 Huffington Post column.— Adam Schefter (@AdamSchefter) March 9, 2014 0 Comments   Share   The 5: Takeaways from the Coyotes’ introduction of Alex Meruelocenter_img Running back Rashard Mendenhall, 26, is expected to announce his retirement, according to numerous reports made Saturday.ESPN’s Adam Schefter reported via Twitter at 8:08 p.m. MDT that sources had told him that teams were told he would be retiring.Mendenhall, as Schefter points out, alluded to the prospect of retiring in a column published by Huffington Post last month.Sunday, his agent Mike McCartney of Priority Sports and Entertainment, confirmed the news with a pair of tweets. Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires It’s been a great pleasure working with Rashard and his family. I am very excited for Rashard as he pursues what’s next.— Mike McCartney (@MikeMcCartney7) March 9, 2014last_img read more

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first_img 0 Comments   Share   The Revolution is a professional baseball team in the Atlantic league that has no affiliation with MLB.Arians joins other famous Yorkers, such as Governor Tom Wolf, Pennsylvania’s 47th Governor, and NFL Hall-of-Famer Chris Doleman, who played for William Penn Senior High School.Arians also attended William Penn Senior, which is only about a mile from the Revolution’s stadium. Former Cardinals kicker Phil Dawson retires The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Top Stories Arizona Cardinals head coach Bruce Arians speaks to the media during a news conference after an NFL football game against the Green Bay Packers Sunday, Dec. 27, 2015, in Glendale, Ariz. The Cardinals defeated the Packers 38-8. (AP Photo/Rick Scuteri) Derrick Hall satisfied with D-backs’ buying and selling Arizona Cardinals’ head coach Bruce Arians will be immortalized in a bobblehead in York, Pa., Friday.If you’re in Central PA tomorrow York Revolution giving out @BruceArians garden gnome at gm vs Bridgeport Bluefish pic.twitter.com/NVEjL6e01i— Mark Dalton (@CardsMarkD) June 16, 2016The York native is being honored during a York Revolution baseball game in a giveaway that is paying tribute to the Revolution’s 10th anniversary season. Grace expects Greinke trade to have emotional impactlast_img read more

Johnathan Joseph CB Knee Limited Full Full —

first_imgJohnathan JosephCBKneeLimitedFullFull— PlayerPositionInjuryWednesdayThursdayFridayGame Status Karlos DansbyLBNot injury relatedDNPFullFull— Greg ManczCKneeFullLimitedDNPQuestionable Jadeveon ClowneyLBKneeLimitedFullFull— Joel HeathDEKneeLimitedLimitedLimitedQuestionable Game Status Designations:Out – Will not playDoubtful – Unlikely to playQuestionable – Uncertain if player will play PlayerPositionInjuryWednesdayThursdayFridayGame Status Frostee RuckerDLToe/thumbFullFullFull— Brennan ScarlettLBKneeFullFullFull— Jeff AllenGHandLimitedFullFull— Alfred BlueRBHamstring—LimitedDNPQuestionable Chris ThompsonWRKnee—DNPDNPQuestionable Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo John WetzelTBackLimitedLimitedLimitedQuestionable Kareem JacksonCBShoulderLimitedFullFull— Julien DavenportTShoulderDNPDNPDNPOut John BrownWRBackLimitedDNPLimitedQuestionable 3 Comments   Share   center_img Tom SavageQBRight shoulderFullFullFull— A.Q. ShipleyCShoulderLimitedLimitedLimitedQuestionable Ben HeeneyLBElbowFullFullFull— Chris ClarkTShoulderLimitedFullFull— Corey PetersDLAnkleDNPDNPDNPOut Will Fuller VWRRibsDNPDNPDNPOut Jelani JenkinsLBHandFullFullFull— Carlos WatkinsDENot injury related—DNPFull— The Arizona Cardinals (4-5) have already been hit by injuries, but one lingers. Will quarterback Drew Stanton be able to play through a knee injury suffered last week against the Seattle Seahawks?That’s the big question as the Cardinals head to Houston to face the Texans on Sunday at 11 a.m. and can be heard on 98.7 FM Arizona’s Sports Station.Below is the official Week 11 injury report for both teams. Brittan GoldenWRGroinFullFullFull— Daily Practice Designations:DNP – Did Not ParticipateLimited – Limited Participation (Less than 100 percent of normal repetitions)Full – Full Participation (100 percent of normal repetitions) Drew StantonQBKneeLimitedLimitedLimitedQuestionable Dylan ColeLBHamstringDNPDNPDNPOut Brandon DunnDTShoulderFullFullFull— Bruce EllingtonWRRibsFullFullFull— Derrick Hall satisfied with D-backs’ buying and selling Former Cardinals kicker Phil Dawson retires Grace expects Greinke trade to have emotional impactlast_img read more

Former Cardinals kicker Phil Dawson retires

first_img Former Cardinals kicker Phil Dawson retires We’ve given you the game in which it happened, the player’s team and position and the number of touchdowns he scored. All you have to do is fill in the names of the dudes who did it — and yes, last names will suffice.You’ve got ten minutes on the clock…good luck! The 5: Takeaways from the Coyotes’ introduction of Alex Meruelo Derrick Hall satisfied with D-backs’ buying and selling Super Bowl week is here!We’ll find out Sunday if it’s the Philadelphia Eagles or New England Patriots who will hoisting the Lombardi Trophy when it’s over.We’ll also find out if any player from either team will join the fraternity of men who have scored two or more touchdowns in a Super Bowl. It’s only happened 29 times in the 51-year history of the event.That’s your Trivia Tuesday challenge this week — name them.center_img Top Stories 0 Comments   Share   Grace expects Greinke trade to have emotional impactlast_img read more

Go back to the enewsletter In June next year w

first_imgGo back to the e-newsletter >In June next year, world-leading mega motor-cruiser SeaDream II will be visiting half a dozen Greek ports and islands including sites for some of the earliest Olympic Games, historic Byzantine period ruins, and tiny little-known tourist gems in the renowned Cyclades IslandsHighlights include a day at Sarande that’s one of the greatest classical cities on the Albanian Riviera, with an optional visit to the nearby 2,500 year old ruins of UNESCO-listed Butrint, and traversing the 6.4km Corinth Canal begun by Emperor Nero in 67AD, but not completed until 1893.SeaDream II has 56 staterooms for a maximum of 112 guests serviced by 95 crew. The trip will sail this 9-day roundtrip voyage from the Athens’ port of Piraeus on 18 June 2016. Its priced from US$6548pp twin share, including drinks from the open bars, wines with lunch and dinner, power and sail water-sports where permitted, on-board gratuities, and government charges and taxes.Go back to the e-newsletter >last_img read more

Switzerland comprises the densest public transport

first_imgSwitzerland comprises the densest public transport network in the world – and also one of the most popular. It extends for some 29,000 captivating kilometres, linking trains, buses, boats and mountain railways nationwide. The Swiss Travel System offers visitors a unique opportunity to discover the diversity of the country by road, rail and waterway, including the Alps, lakes, other delightful destinations and more than 500 museums. And with just a single all-in-one ticket, available exclusively for travellers from abroad – the Swiss Travel Pass.Vacation visitors to Switzerland can benefit from the Swiss Travel System the minute they set foot in the country. Comfortable direct connections from neighbouring countries are offered to some Swiss destinations. And at frontier railway stations and airports, trains and/or buses are ready and waiting to take passengers to Swiss city centres, holiday resorts and even snow-capped summits rising to 3800 metres. Public transport services are planned to perfection. Regular, reliable and coordinated connections are assured, guaranteeing trouble-free travel nationwide. Whether visitors stay for only a few days or for longer duration, for selected excursions or extensive round-trips, the Swiss Travel System offers an entire range of special tickets. This covers the popular panorama trains such as the Glacier Express, Bernina Express, GoldenPass Line and Gotthard Panorama Express – spectacular scenic trips which never fail to fascinate the vacation visitor. The Swiss Travel Pass also covers free admission to more than 500 museums nationwide. These include such highlights as the recently expanded Swiss National Museum next to Zurich main station, historic Chillon Castle on Lake Geneva, the Olympic Museum in Lausanne and the Paul Klee Centre in Bern.Grand Train Tour of Switzerland – a unique travel experienceThe year 2015 saw the launching of the Grand Train Tour of Switzerland, linking the most attractive panorama rail routes across the country and highlighting selected excursion options. The tour can be enjoyed all year round, and passengers may start their journey of discovery from any point; there is no pre-determined direction. And best of all – this trip too can be travelled with the all-in-one Swiss Travel Pass. Swiss Travel System – the tickets at a glanceSwiss Travel Pass – the all-in-one ticketThe Swiss Travel Pass offers unlimited travel by train, bus and boat including panorama routes (excluding supplements and seat reservation); as well as public transport in 90 towns and cities. It also includes free Alpine excursions up to the Pilatus, Rigi and Schynige Platte peaks, up to 50 per cent reduction off other mountain railways, and free admission to more than 500 museums nationwide.Validity: three, four, eight or 15 consecutive days. Reduction: travellers aged under 26 receive a 15 per cent reduction off the regular Swiss Travel Pass price.Swiss Travel Pass Flex – the flexible solutionThe Swiss Travel Pass Flex offers the same benefits as the Swiss Travel Pass – plus flexibility.Validity: three, four, eight or 15 freely selectable days within one month.Swiss Transfer Ticket – trouble-free travel there and backTravel by train, bus and boat from any Swiss airport or frontier railway station to any holiday Swiss destination and back again. Travel to or from the destination must be made by the most direct route and within one day. Validity: two transfers within one month.Swiss Half Fare Card – all of Switzerland at half the priceUp to 50 per cent reduction off travel by train, bus, boat and mountain railways, and public transport in 90 towns and cities.Validity: one month.Swiss Family Card – children travel freeThe complimentary Swiss Family Card permits children aged between six and 16 to travel free of charge when accompanied by at least one parent in possession of a Swiss Travel System ticket. Children travelling alone receive a 50 per cent reduction off any Swiss Travel System ticket.The Swiss Travel System AG is a Zurich-based marketing company, co-founded in 2011 by the Swiss Federal Railways (SBB), Switzerland Tourism and five private railway companies. The Swiss Travel System’s core objectives include the marketing worldwide of public transport in Switzerland and the range of special tickets created exclusively for travellers from outside the country. Its flagship product is the Swiss Travel Pass – an all-in-one ticket which for more than 25 years has assured visiting vacationers trouble-free travel on almost every train, bus and boat route nationwide.Swiss Travel System AG has launched a new website, which exclusively targets its media and trade partners. Centrepieces of the platform are its News Area and the Download Centre, which make target group-oriented and detailed information and content available to partners around the world.Check it out here.last_img read more

Related More Brits expected to book flights to Nep

first_img RelatedMore Brits expected to book flights to Nepal in 2011More Brits expected to book flights to Nepal in 2011More Brits booking flights to GermanyMore Brits booking flights to GermanyMore holidaymakers booking flights to JamaicaMore holidaymakers booking flights to Jamaica More direct flights to Ecuador from the UK are needed if the number of tourists arriving into the country is to increase.This is according to the Ecuador Tourist Board, whose spokesman said that 20 percent of the organisation’s budget is allocated to the British market.Explaining where this budget stretches to, he commented: “This might mean developing direct air connections from the UK to increase the air frequencies to enable travellers to get there more easily and also help develop links with the key players in the travel industry.”He went on to say that the majority of the budget (60 percent) goes towards cultural tourism, ecotourism and sports and adventure tourism, all of which are popular among British travellers.”The combination of these three types of travel means that Ecuador is the world’s most famous expedition destination,” the spokesman added.Approximately one million tourists arrive in the South American country each year, although the Ecuador Tourist Board wants this to increase to one-and-a-half million by 2014.ReturnOne wayMulti-cityFromAdd nearby airports ToAdd nearby airportsDepart14/08/2019Return21/08/2019Cabin Class & Travellers1 adult, EconomyDirect flights onlySearch flights Maplast_img read more