Current Mortgage Performance Rate Rises to 93%

first_img Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. in Daily Dose, Featured, Government, Headlines, News Current Mortgage Performance Rate Rises to 93% Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Delinquency Foreclosure Mortgage Performance OCC 2014-06-27 Krista Franks Brock Mortgage performance is on the rise, and foreclosures are on the decline at the nation’s largest banks, according to the first-quarter Mortgage Metrics Report from the Office of the Comptroller of the Currency (OCC). Representing 48 percent of outstanding first-lien residential mortgages, the OCC report includes data on mortgages at the nation’s seven largest servicers, based on portfolio size, and one federal savings association.The percentage of current, performing mortgages rose to 93.1 percent in the first quarter of this year, up from 91.8 percent in the fourth quarter of last year and from 90.2 percent a year ago, according to the OCC. The first quarter marks the sixth straight quarter of improvement in loan performance, according to OCC data.At the same time, the number of loans in some stage of the foreclosure process at the institutions declined 52.3 percent over the year to the lowest level the OCC has recorded since September 2008. About 1.8 percent of the loans are in foreclosure as of the end of the first quarter.The number of foreclosure starts in the first quarter is down 49.1 percent from the start of the year, while the number of foreclosures completed in the first quarter is down 33.9 percent from a year ago.The OCC attributes declining foreclosures to a few factors, including “improved economic conditions, aggressive foreclosure prevention assistance, and the transfer of loans to servicers outside the reporting banks and thrift.”Mortgage delinquencies at OCC-observed institutions are also on the decline. As of the first quarter, 2.1 percent of mortgages at the nation’s largest servicers were 30 to 59 days delinquent, a record low for the Mortgage Metrics Report, which debuted in the first quarter of 2008.The serious delinquency rate is 3.1 percent, down from 3.5 percent in the previous quarter and from 4.0 percent in the same quarter last year. The OCC considers a loan seriously delinquent if it is 60 or more days past due or at least 30 days past due if held by a bankrupt borrower.An up-close look at the 93.1 percent performance rate reveals a higher success rate among loans held by Fannie Mae and Freddie Mac than other government-guaranteed mortgages.At the end of the first quarter, 96.7 percent of Fannie and Freddie loans were current and performing, while 88.4 percent of other government-guaranteed loans held this status. Both categories of loans, however, improved performance from last year.While the OCC points to “aggressive foreclosure prevention assistance” as contributing factor to declining foreclosures, the report found a 32.1 percent decline in home retention actions from a year ago.Regardless, home retention efforts outweighed home forfeiture actions more than threefold in the first quarter—237,133 home retention actions in contrast to 71,678 home forfeiture actions.Over the three-month period, servicers administered more than 65,000 loan modifications, about 71,000 trial plans, and about 100,000 payment plans.Among newly modified loans, 91 percent included reduced monthly payments, and 58.6 percent included payment reductions of at least 20 percent.About 73.3 percent of loans modified in the first quarter included reduced interest rates, and 78 percent included loan term extensions.While loans modified through the government’s Home Affordable Modification Program (HAMP) included greater average payment and interest reductions, according to the OCC’s report, the OCC did point out that the program’s stringent qualifications make it available to fewer borrowers than proprietary modifications.HAMP modifications increased significantly over the first quarter of the year, up 49 percent from the previous quarter. In contrast, other modifications decreased 33.4 percent. On the other hand, HAMP trial period plans decreased 26.9 percent over the quarter.In total, servicers at the large loan servicers the OCC observes have modified nearly 3.5 million loans from the start of 2008 through 2013. As of the end of the first quarter of this year, 60 percent of those modified loans were active. The other 40 percent were paid in full, liquidated, or transferred to another servicer.Of the active modified loans, 69.9 percent were performing at the end of the first quarter, according to the OCC report. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Krista Franks Brock Home / Daily Dose / Current Mortgage Performance Rate Rises to 93% Previous: Fannie Mae Revises First Quarter Forecast Next: GSEs Foreclosure Prevention Actions Nearly 3.2M through Q1 Tagged with: Delinquency Foreclosure Mortgage Performance OCCcenter_img The Best Markets For Residential Property Investors 2 days ago June 27, 2014 1,320 Views Demand Propels Home Prices Upward 2 days ago  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Subscribelast_img read more

The Best Day to List a Home

first_img Related Articles  Print This Post About Author: Seth Welborn Demand Propels Home Prices Upward 2 days ago March 28, 2019 2,328 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Mitigating Risks Through Technology Next: Fidelity National Launches Digital Closing Experience Tagged with: mortgage Prices real estate Redfin Subscribe mortgage Prices real estate Redfin 2019-03-28 Seth Welborn The Best Markets For Residential Property Investors 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save More than any other day of the week, Thursday is the best day to list a home for sale, according to Redfin. Redfin found that on average, homes listed on Thursday sold for an average of $3,015 more than homes listed on Monday, and sell faster, too.Home listed on Thursday can sell an average of 5 days faster than homes listed on Sunday. According to Redfin, Thursday is such a good day to sell due to weekend sales. The report notes that with most buyers shopping for homes on the weekends, Thursday listing will still be fresh in their mind into the weekend.“Psychologists have found that people tend to remember the last information they saw the best,” said Redfin Chief Economist Daryl Fairweather. “If you list on a Thursday, buyers will be more likely to see your listing as a ‘new home for you‘ right before they go out and tour over the weekend.”If you list on Friday, it may be too late for a buyer to see your home online, and earlier in the week, new listings may push those out of the way as the weekend shoppers start looking. For a home listed at $500,000, listing on a Thursday instead of Monday could mean a difference of $3,700 in your final sale price.In this spring’s hot buyer’s market, however, the day of the week a home is listed has mattered less than normal.“When homebuyer demand far outpaces the supply of homes and nearly every home sells quickly and at or above list price, factors like which day a home is listed are less important,” Redinf noted. According to Redfin, the market this year is not as easy for sellers, with the median time on market has shot up to 59 days as of February.Find the report from Redfin here. Home / Daily Dose / The Best Day to List a Home Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Day to List a Home in Daily Dose, Featured, Market Studies, Newslast_img read more

Most Valuable Company: Claims Recovery Financial Services

first_img  Print This Post Home / D&I / Most Valuable Company: Claims Recovery Financial Services Tagged with: Claims Recovery Financial Services (CRFS) Jeffrey Clark Nancy Westlund Sean Casher Sean Snook Steven Mowers Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago About Author: Eric C. Peck Servicers Navigate the Post-Pandemic World 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Claims Recovery Financial Services (CRFS) Jeffrey Clark Nancy Westlund Sean Casher Sean Snook Steven Mowers 2021-05-14 Eric C. Peck 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 The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img 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. Previous: Forbearance Levels Improve, But Plan-Expirations Loom Large Next: Another Record-Setting Month for Housing Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Most Valuable Company: Claims Recovery Financial Services Claims Recovery Financial Services (CRFS) is a post-default claims management solutions provider based in Albion, New York. The company has maintained a remote component to its staffing strategy since 2019, allowing them to recruit talent nationwide.“Our comprehensive, data-driven compensation models are designed to integrate our corporate goals with employee incentives, including but not limited to cash compensation, that are important to our teams,” said Steven Mowers, CRFS President. “We employ an integrated talent planning program that ensures we’re building a solid in-house staffing bench to support our leadership needs both now and in the future.”Company leadership has more than 75 years’ combined industry experience, and CRFS makes sure that the most effective and relevant processes are put in place from the beginning to ensure that recoveries, savings, and return-on-investment (ROI) are maximized for their clients from day one.Breaking From the PackCRFS has a narrow scope of services built around consulting and claims management in the post-default industry segment. This focus serves as the foundation of one of the company’s core principles: to be a strategic partner that helps its clients sleep peacefully at night with the knowledge that their pre- and post-foreclosure claims are being handled accurately and timely.“The value proposition to our clients is pretty straightforward—we reduce risk, while improving financial outcomes,” Mowers said.For nearly 20 years, CRFS has provided timeliness, exceptional customer service, and measurable results, while setting a standard for excellence in the industry.Adapting to a Shifting LandscapeMake no mistake that the default and servicing industries were turned upside down due to the pandemic of the past year, but CRFS met these challenges head-on and forged a new path to success.“Two of the more significant challenges were default and foreclosure claim volume constraints caused by the mortgage forbearance and foreclosure rules, and the 100% remote staffing requirements,” said Sean Snook, COO, CRFS. “To address the remote staffing challenge, we quickly scaled-up and launched a technology-driven operational model that allowed individual users to quickly resume their day-to-day activities from their home offices.”To further augment operations, CRFS also partnered with its managed services provider to increase its data server bandwidth to support the unique requirements of a geographically diverse workforce.“To counter the reduction in our normal claim volumes, we developed and rolled out new products that, in many cases, were a direct result of the forbearance and foreclosure rules,” said Jeffrey Clark, CRO, CRFS. “Over a period of five weeks, we invested in technology upgrades, including integration with the FHA Catalyst system, and built-out our workforce to expand our loss mitigation processing capacity.”In total, CRFS expanded its operations, processing more than 10,000 monthly emergency loss mitigation claims, representing a tenfold increase in capacity.Automating in the New NormWith the shift to a remote environment, CRFS had much to adapt to in a short amount of time. New technologies were implemented as CRFS, and its now remote staff were up and running, assisting a segment of homeowners who were also in new territory.CRFS utilizes internal tools like flex staffing and cross-training to ensure that they have the right number of people supporting the right projects, as they have grown comfortable managing and adapting to change. The company also implemented additional technology platforms, including Microsoft Teams to facilitate increased collaboration and interaction between team members.“Our commitment to technology takes many forms, including some that we didn’t necessarily plan for,” said Nancy Westlund, VP Operations. “The norm-shattering events of the past 12 months impacted us in many ways, not the least of which involved CRFS going from a somewhat traditional brick-and-mortar operation to a completely remote company literally in a matter of weeks.”Furthering a Commitment to Diversity and InclusionAs a company co-founded in 2002 by a talented and motivated woman, CRFS recognizes the critical role diversity, equity, and inclusion plays in any organization.“Our Talent Planning Program fosters an aspirational, results-oriented environment focused on aligning the needs of the company with the skills and career goals of our teammates,” said Sean Casher, VP Human Resources. “We encourage our employees to be active members of the communities in which they live and work, and we fully support local volunteer opportunities, including the United Way Day of Caring.”Building on initiatives like its Talent Planning Program, CRFS continues to offer meaningful advancement opportunities for its team.“One of our top priorities is continuing to operate an inclusive company where talented, motivated professionals choose to work,” Casher said. 16 days ago 1,109 Views The Best Markets For Residential Property Investors 2 days ago in D&I, Daily Dose, Featured, Journal, Loss Mitigation, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Minister Mc Ginley defends budget

first_img RELATED ARTICLESMORE FROM AUTHOR Calls for maternity restrictions to be lifted at LUH Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey WhatsApp Previous articleHauliers may have no option but to protest after rise in fuel costsNext articleMagee College in Derry to be allocated additional 300 students News Highland Google+ Pinterest Facebook Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Guidelines for reopening of hospitality sector published center_img Junior Minister Dinny Mc Ginley says this week’s budget is the best that could have been expected in the current circumstances, and he is happy to back it.Yesterday, community activist and eirigí spokesperson  Micheál MacGiolla Easbuig challenged challenged  Minister McGinley, to publicly explain his reasons for supporting the budget.He said Dinny McGinley should hold a public meeting to explain his actions to the people of Donegal South-West………[podcast]http://www.highlandradio.com/wp-content/uploads/2011/12/mcgioll.mp3[/podcast]Minister Mc Ginley says capital funding has been maintained for Udaras na Gaeltachta, and supports for the farming community have been improved. He said these measures should help boost the economy in West Donegal.On the issue of VAT, meanwhile, he doesn’t believe there will be a significant loss of trade to Northern Ireland……….[podcast]http://www.highlandradio.com/wp-content/uploads/2011/12/dinny1pm.mp3[/podcast] Twitter Newsx Adverts Google+ WhatsApp Three factors driving Donegal housing market – Robinson Minister Mc Ginley defends budget Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week By News Highland – December 7, 2011 last_img read more

Housing commencements down but planning applications up in Donegal

first_img Pinterest Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Facebook WhatsApp Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ Google+ Guidelines for reopening of hospitality sector published Facebook RELATED ARTICLESMORE FROM AUTHOR The dramatic fall in house construction may be bottoming out.That’s according to the authors of the National Housing Construction Index.The index shows the number of projects that started construction is 10 per cent down on the same period last year – but that’s an improvement on the start of the year when they were down 14 per cent.There was a signifcant increase in house building in Counties like Westmeath, Mayo and Sligo.In Donegal, the number of commencement orders was down significantly, but planning applications were up by 18%, the highest increase in the country.center_img WhatsApp Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleCabinet will discuss Local Government reform proposals tomorrowNext articlePublic meeting to discuss border policing concerns News Highland Twitter Calls for maternity restrictions to be lifted at LUH Housing commencements down but planning applications up in Donegal Pinterest By News Highland – October 15, 2012 News Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

Council urged to address Loughanure walkers backspot

first_img Pinterest Council urged to address Loughanure walkers backspot Pinterest Calls for maternity restrictions to be lifted at LUH WhatsApp Google+ Almost 10,000 appointments cancelled in Saolta Hospital Group this week Guidelines for reopening of hospitality sector published Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey One person has been hospitalized in recent weeks and two others injured in separate incidents while walking along the N56 road in the centre of Loughanure village.There is a ‘drop’ of several inches on the side of the road near to the Irish college that has caused the accidents.The ‘drop’ is quite near a fence alongside the road and there is no option for people but to step in close to the side of the road to avoid any oncoming traffic. This ‘drop’ is because the tarmac on the road is several inches higher at this point than the previous surface.Locals have been in touch with Donegal County Council and traffic cones have been put in place this week as a temporary measure.One elderly lady who fell there sustained broken bones and has spent several weeks in hospital care as a result, while a mother and her young child also sustained injuries.Residents are calling on Donegal County Council to take immediate measures before any more people are injured. WhatsApp Google+center_img Previous articlePádraig Mac Lochlainn TD blocked from raising ‘Highland Bakery’ in the DailNext articleJohn Gallagher hands himself in to the Central Mental Hospital News Highland Twitter Twitter Facebook Newsx Adverts RELATED ARTICLESMORE FROM AUTHOR Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – May 22, 2012 Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

Road re-opens in Fintra after tourist bus leaves the road

first_img Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Almost 10,000 appointments cancelled in Saolta Hospital Group this week Homepage BannerNews Facebook By News Highland – September 18, 2015 Google+ Pinterest Pinterest Twitter The road between Killybegs and Kilcar has re-opened following an incident involving a bus this morning.A bus carrying German tourists left the road and ended up in a ditch.No one on the bus was injured.It happened at Tullid, Fintra. RELATED ARTICLESMORE FROM AUTHOR Google+center_img WhatsApp Guidelines for reopening of hospitality sector published Facebook LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Previous articleDonegal to be included in pilot scheme to speed up abdominal scansNext articleTourism Minister launches next phase of Wild Atlantic Way in Donegal News Highland Need for issues with Mica redress scheme to be addressed raised in Seanad also Twitter Road re-opens in Fintra after tourist bus leaves the road WhatsApp Minister McConalogue says he is working to improve fishing quotalast_img read more

Right2Water claim victory as less than half of households pay water bills

first_img Facebook Facebook By admin – July 15, 2015 365 additional cases of Covid-19 in Republic Man arrested in Derry on suspicion of drugs and criminal property offences released HSE warns of ‘widespread cancellations’ of appointments next week Dail to vote later on extending emergency Covid powers WhatsApp Groups opposed to water charges have been welcoming reports that just 46 per cent of households have paid their water bills.According to the Irish Times, the utility collected 30.5 million euro for the first three months of this year.That’s less than half the amount contained in the first round of bills posted out earlier this year.Full details of payments are to be published by Irish Water today.Meanwhile, Environment Minister Alan kelly has pulled out of a debate on Irish Water which was to have taken place at the Mc Gill Summer School next week.Owen Curran of Right2Water Donegal believes today’s figures may help explain why……..Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/07/owencurrmcgill.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Previous articleMore details emerge of plan to reopen Ostan na RossanNext articleFive teenagers arrested following more disturbances in Derry admin Homepage BannerNews RELATED ARTICLESMORE FROM AUTHORcenter_img Pinterest Google+ WhatsApp Twitter Google+ PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Right2Water claim victory as less than half of households pay water bills Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Twitterlast_img read more

520 births in Donegal between April and June

first_img 75 positive cases of Covid confirmed in North 17,958 babies were born in Ireland during the second quarter of this year, that’s down 2 point 3 per cent on the same period last year.Just over a third of those births were registered outside marriage or civil partnerships, an average reflected in Donegal.There were 520 births in Donegal during the second quarter, 174 of them outside marriage or civil partnership. The average age of mothers was 31.6, the average age of first time mothers was 28.9, both broadly in line with national averages.There were 281 deaths recorded in the county between April and June, 154 of them men and 127 women.Heart disease and diseases of the circulatory system accounted for 94 deaths in the county during that period, cancer was the cause of 78 deaths, 41 people died from respiratory diseases, 10 from external causes and 58 by all other causes. 520 births in Donegal between April and June Main Evening News, Sport and Obituaries Tuesday May 25th WhatsApp Pinterest WhatsApp Man arrested on suspicion of drugs and criminal property offences in Derry Facebook By News Highland – December 19, 2012 Twitter Newscenter_img Google+ Previous articleLynch calls for new guidelines on suicide reportingNext article€2 per week rent increase on Council houses in Donegal looking unlikely News Highland Further drop in people receiving PUP in Donegal RELATED ARTICLESMORE FROM AUTHOR Facebook 365 additional cases of Covid-19 in Republic Pinterest Twitter Google+ Gardai continue to investigate Kilmacrennan firelast_img read more

Jill Meagher killer jailed for minimum of 35 years

first_img Man arrested on suspicion of drugs and criminal property offences in Derry Facebook 75 positive cases of Covid confirmed in North News Google+ Twitter Twitter Facebook Google+ WhatsApp Jill Meagher killer jailed for minimum of 35 years Gardai continue to investigate Kilmacrennan firecenter_img WhatsApp By News Highland – June 19, 2013 Previous articleMinister: Threats to burn me out of my home gone too farNext articleThree fishermen rescued and safe after boat sinks off Fanad Head News Highland RELATED ARTICLESMORE FROM AUTHOR Pinterest Pinterest 365 additional cases of Covid-19 in Republic Main Evening News, Sport and Obituaries Tuesday May 25th Jill Meaghar’s uncle says there has been great solidarity shown between the people of Ireland and the people of Australia since his niece’s murder last year.Michael McKeown from Drogheda was speaking after the man convicted of the rape and murder of the Irish journalist was sentenced to at least 35 years in prison at the Victorian Supreme Court in Melbourne this morning.It was revealed earlier this month at a pre-sentence hearing that Adrian Earnest-Bayley – who had pleaded guilty – had previous convictions for more than 20 rape offences and was on parole when he murdered Jill.Jill’s husband Tom and her family were in court for the sentencing hearing.Michael McKeown says Jill’s family has received alot of support but that they now they need time to grieve.”The world is such a small place nowadays with the internet, with Skype and everything” he said.”And so many…Irish people living in Australia – it’s a small world we live in and Australia’s a bit like home from home”.”A great deal of solidarity between the people here in Ireland and the people in Australia” he added.Jill’s father George McKeon spoke outside court in Melbourne.”Because of Victoria Police and Public Prosecutions Victoria, justice has now been done” he said.”Police and prosecutors: we thank you” he added. Further drop in people receiving PUP in Donegal last_img read more