Month: May 2021

First-Lien Mortgage Performance Improves While Foreclosure Metrics Decline

first_img  Print This Post First-lien mortgage performance continued to improve with nearly a full percentage point increase in the share of mortgages that were current and performing at the end of Q2 2015, according to the quarterly report on mortgage performance released by the Office of the Comptroller of the Currency (OCC).According to the OCC Mortgage Metrics Report, Second Quarter 2015, 93.8 percent of first-lien mortgages for eight national banks were current and performing as of the end of Q2—a year-over-year increase from 92.9 percent reported from the same quarter a year ago. The eight national banks examined in the report are Bank of America, JPMorgan Chase, Citibank, HSBC, OneWest Bank, PNC, U.S. Bank, and Wells Fargo.While the share of current and performing mortgages increased, both seriously delinquent mortgages (those 60 or more days past due or held by bankrupt borrowers whose payments are 30 days or more past due) and foreclosures declined year-over-year in Q2. Seriously delinquent mortgages accounted for about 2.6 percent of the portfolio as of the end of the quarter, which is a decline of 16 percent from Q2 2014.The number of mortgages in the process of foreclosure as of the end of Q2 2015 declined by nearly one-quarter from the same quarter the previous year. As of the end of Q2, 2015, there were about 299,500 homes in the process of foreclosure, which is a decline of 23.5 percent from a year earlier.  The nearly 300,000 homes in foreclosure represented about 1.4 percent of mortgages in the portfolio.Foreclosure starts and foreclosure completions were also down over the year, according to the OCC. Servicers initiated 70,728 foreclosures during Q2, which was down from 11.3 percent in the same quarter in 2014. Completed foreclosures during Q2 totaled 37,725, which was a drop of 23.4 percent from a year earlier.”Improved economic conditions and foreclosure prevention assistance contributed to the decline in foreclosure activity,” the OCC said in its report.Servicers completed 179,382 home retention actions during the second quarter, which included modifications, trial-period plans, and shorter term-payment plans. According to the OCC, more than 86 percent of those modifications reduced monthly principal and interest payments, and 52 percent of them reduced monthly payments by 20 percent or more (average monthly payment reduction amount was $245).The mortgages in the portfolio for the eight banks comprised 43 percent of outstanding residential mortgages in the country, which computes to about 22.1 million loans with about $3.8 trillion in unpaid principal balance.To view the complete report, click here. Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Market Studies, News Home / Daily Dose / First-Lien Mortgage Performance Improves While Foreclosure Metrics Decline About Author: Brian Honea The Week Ahead: Nearing the Forbearance Exit 2 days ago Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Previous: Repeat Foreclosures Are Driving Uptick in Foreclosure Starts Next: Compensation for Servicemembers Over Illegal Foreclosures Increased to $311 Million First-lien mortgage performance foreclosure completions Foreclosure Starts Foreclosures OCC Office of the Comptroller of the Currency Seriously Delinquent Mortgages 2015-10-05 Brian Honea Servicers Navigate the Post-Pandemic World 2 days ago First-Lien Mortgage Performance Improves While Foreclosure Metrics Decline Subscribe The Best Markets For Residential Property Investors 2 days agocenter_img Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: First-lien mortgage performance foreclosure completions Foreclosure Starts Foreclosures OCC Office of the Comptroller of the Currency Seriously Delinquent Mortgages Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save October 5, 2015 1,432 Views last_img read more

Several Banks Report Declining Mortgage Revenue

first_img Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Several Banks Report Declining Mortgage Revenue Subscribe  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Foreclosures Fall Below Pre-recession Levels Next: FHFA Reports Drops In Refinances About Author: Seth Welborn April 13, 2017 1,553 Views Tagged with: mortgage About Author: Aly J. Yale PNC Financial Services Group’s retail banking earnings fell over the quarter and over the year, due to lower gains on residential mortgage servicing rights and lower mortgage loan revenues overall, the bank revealed in its first quarter earnings report released on Thursday.PNC also reported lower revenue in commercial mortgage loans, which resulted in reduced Corporate and Institutional Banking earnings as well.In total, PNC’s revenue grew by $10 million, hitting $3.9 billion for the quarter. Net interest income increased 1 percent—up to $2.2 billion. Thanks to a five-year extension in conforming to the Volcker Rule and nearly $50 million in positive valuation adjustments, PNC was able to offset seasonally lower fee incomes and report only a 1 percent dip in noninterest income, which totaled $1.7 billion for the quarter.”PNC had a good start to the year,” said William S. Demchak, Chairman, President, and CEO of PNC. “We grew loans and revenue, and we managed expenses well while continuing to invest in our businesses and to enhance innovation. As we progress through 2017, we are well positioned to benefit should environmental factors, including interest rates, turn more favorable.”Wells Fargo saw drops as well, with a drop in mortgage originations, but a slight boost in revenue. The bank’s first quarter income was $5.5 billion, in line with Q1 2016.Wells Fargo’s net interest income in Q1 2017 decreased $102 million from fourth quarter 2016 to $12.3 billion, primarily due to two fewer days in the quarter. Net income was down $287 million, or 9 percent, from Q1 2016.”Wells Fargo continued to make meaningful progress in the first quarter in rebuilding trust with customers and other important stakeholders, while producing solid financial results,” said CEO Tim Sloan. “While we have more work to do, I am pleased with all we have accomplished thus far.”The story was similar at JPMorgan Chase. JPMorgan Chase posted a net income of $6.4 billion, , slightly down from Q4 2016’s 6.7 billion. JPMorgan’s mortgage department struggled as well. Mortgage banking posted a drop to $1.5 billion in income for Q1 2017 from Q4 2016’s $1.6 billion.However, JPMorgan is optimistic going into the rest of the year.“We are off to a good start for the year with all of our businesses performing well and building on their momentum from last year,” said JPMorgan Chase Chairman and CEO Jamie Dimon. “The consumer businesses continue to grow core loans at double digits, outperform the industry in deposit growth, and we once again had very strong card sales volume growth this quarter–reflecting our commitment to providing our customers the innovative products and services they want.” Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img in Daily Dose, Featured, Market Studies, News Related Articles mortgage 2017-04-13 Seth Welborn Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago 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. Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer. Several Banks Report Declining Mortgage Revenue Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agolast_img read more

Loss Prevention Program for D.C. Homeowners Re-launches

first_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago February 17, 2021 865 Views A Washington, D.C. program founded during the foreclosure surge that stemmed from the Great Recession has re-launched, in an effort to help homeowners experiencing COVID-related struggles.As part of the effort to support residents during the COVID-19 pandemic, the District of Columbia Housing Finance Agency (DCHFA) has reopened its HomeSaver foreclosure prevention program.Through the U.S. Department of the Treasury’s Hardest Hit Fund (HHF) the Agency has approximately $4 million available to relaunch the HomeSaver program. The agency will use funds to aid eligible D.C. homeowners that have fallen behind on their mortgage payments due to unemployment, underemployment, or have endured a financial hardship of which a lump sum payment will make the homeowner’s expense current.”As the COVID-19 pandemic nears the one-year mark, DCHFA continues to pursue solutions to alleviate the financial hardships many District homeowners are experiencing,” Christopher E. Donald, Acting Executive Director/CEO said. “The HomeSaver program was a successful resource in previous years and by reactivating the program, the Agency provides a resource to help D.C. residents retain ownership of their homes.”DCHFA launched HomeSaver in 2010 as a part of the HHF initiative to provide funds to unemployed and underemployed District homeowners that were facing foreclosure.The HomeSaver Program will offer lump-sum assistance and/or ongoing monthly mortgage payments to eligible District homeowners at risk of foreclosure. The maximum assistance amount is capped at $60,000 per household.Here is how the program is divided:The program’s unemployment and underemployment assistance component provides assistance to currently unemployed and underemployed homeowners through a one-time payment of up to 16 months of mortgage and/or condo fee delinquency in order to bring the mortgage current.This component will also provide up to an additional 11 months of mortgage and/or condo fee payments going forward (total not to exceed 24 months payments) in order to keep the homeowner current. In December 2021 all final payments will be disbursed for those customers still enrolled in the program.Its restore assistance component will be available for homeowners who have suffered a financial hardship and who need a lump sum payment to catch up on arrears, but who have sufficient resources to continue making their regular payments going forward. Restore Assistance may cover any property-related payments necessary to cure a default and prevent foreclosure, including but not limited to mortgage payments, property taxes, hazard insurance, late fees, condo fees, homeowner’s association fees, and legal fees.For applicants, whose delinquency involved an inability to pay property tax charges, non-escrowed property taxes, such as in the case of a reverse mortgage, can be pre-paid through the remainder of the fiscal year at settlement.Homeowners interested in applying must first complete an intake package and have it approved by a U.S. Department of Housing and Urban Development approved housing counseling agency and then forwarded to the HomeSaver Program staff at DCHFA for final approval.More details and applications can be found at DCHFA.org. Sign up for DS News Daily  Print This Post Previous: Fitch Ratings: RMBS Market Faces Uncertainty Next: New Tool Tracks Property Flood-Risk Data Home / Daily Dose / Loss Prevention Program for D.C. Homeowners Re-launches Share Save 2021-02-17 Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Loss Prevention Program for D.C. Homeowners Re-launches About Author: Christina Hughes Babb The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Highland’s Farming News – Thursday 5th November

first_img Twitter Pinterest RELATED ARTICLESMORE FROM AUTHOR Facebook Guidelines for reopening of hospitality sector published Calls for maternity restrictions to be lifted at LUH Pinterest NewsPlayback Highland’s Farming News – Thursday 5th November Almost 10,000 appointments cancelled in Saolta Hospital Group this week Google+ WhatsAppcenter_img LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton WhatsApp Nine Til Noon Show – Listen back to Wednesday’s Programme Three factors driving Donegal housing market – Robinson Twitter By admin – November 5, 2015 A 15 Minute Programme presented by Chris Ashmore every Thursday at 7.05pm highlighting all that’s happening in the farming community in association with the Farming Independent.Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/11/FarmingNov5th2015.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Previous articleKenny Shiels named Derry City ManagerNext articleWarning that smoky coal ban will be enforced this winter in Letterkenny area admin Google+ Facebooklast_img read more

Increase in cigarette prices will lead to more smuggling

first_imgNews Increase in cigarette prices will lead to more smuggling Guidelines for reopening of hospitality sector published Cigarettes are going up by 25 cent.Benny Gilsenan of Retailers Against Smuggling says this will lead to more people buying cheaper, smuggled cigarettes – and will put small shops out of business:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/12/benn.mp3[/podcast] Almost 10,000 appointments cancelled in Saolta Hospital Group this week RELATED ARTICLESMORE FROM AUTHOR WhatsApp Facebook Google+ Pinterest Twitter Pinterestcenter_img Previous articleGambling, alcohol and cigarettes all hit in Budget 2012Next articleThe Society of the Irish Motor Industry says motorists an easy target News Highland Calls for maternity restrictions to be lifted at LUH By News Highland – December 6, 2011 WhatsApp Google+ Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebook Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Need for issues with Mica redress scheme to be addressed raised in Seanad alsolast_img read more

Rescue Update – Man successfully airlifted from lifeboat

first_img Facebook Twitter News Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Google+ Pinterest Pinterest Rescue update – man airlifted and brought to Altnagelvin Hospital in Derry. Audio from RNLI to follow. RELATED ARTICLESMORE FROM AUTHOR By News Highland – August 10, 2012 Need for issues with Mica redress scheme to be addressed raised in Seanad also LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton center_img Calls for maternity restrictions to be lifted at LUH WhatsApp Facebook WhatsApp Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week Previous articleMajor rescue operation underway off the Isle of DoaghNext articleMalin Head’s local knowledge ‘crucial’ in Lough Swilly rescue News Highland Rescue Update – Man successfully airlifted from lifeboat Google+ Guidelines for reopening of hospitality sector published last_img read more

HSE pledges to end “wage discrimination” against home helps in Donegal

first_img Previous articleIBEC North West outlines priorities ahead of General Election 2016Next articleDerry police investigate lead theft from Longtower church admin Guidelines for reopening of hospitality sector published RELATED ARTICLESMORE FROM AUTHOR Pinterest Facebook Twitter Google+ LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Homepage BannerNews Calls for maternity restrictions to be lifted at LUH Twitter Donegal Sinn Féin TD Pádraig Mac Lochlainn today called for an end to what he described as wage disrimination by the H.S.E.In June of this year it emerged that the H.S.E. in the county have been witholding unsocial hours premium payments from around 500 home helps in Donegal.Deputy MacLochlainn says he has now received a commitment from senior H.S.E management at national and local level that all monies owed would be paid by Christmas.He says it can’t be allowed happen again…………….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/11/padhomehelps.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume.center_img Google+ Pinterest WhatsApp Facebook GAA decision not sitting well with Donegal – Mick McGrath HSE pledges to end “wage discrimination” against home helps in Donegal WhatsApp By admin – November 20, 2015 Almost 10,000 appointments cancelled in Saolta Hospital Group this week Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeylast_img read more

Councillor says mobile and broadband services must be improved

first_img Dail to vote later on extending emergency Covid powers Twitter A Donegal County Councillor has said the local authority must put pressue on the Minister for Communications to improve broadband and mobile phone coverage in the county.It was claimed at this weeks Council meeting that rural areas are recieving next to no broadband or mobile phone coverage.Despite this Eircom estimates that by 2016, 91% of residents in Co Donegal will have access to high speed broadband.Cllr James Pat McDaid says if broadband and mobile phone coverage are improved in the county, then there is no doubt jobs will be created. However, at present he says mobile signals in some parts of the county are very poor………….Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/09/jamespattelecomms.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. WhatsApp Facebook Twitter By News Highland – September 30, 2014 PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Dail hears questions over design, funding and operation of Mica redress scheme Google+ Facebook Google+center_img Pinterest Councillor says mobile and broadband services must be improved WhatsApp RELATED ARTICLESMORE FROM AUTHOR Man arrested on suspicion of drugs and criminal property offences in Derry Man arrested in Derry on suspicion of drugs and criminal property offences released Homepage BannerNews HSE warns of ‘widespread cancellations’ of appointments next week Previous articleInitial Irish Water charges confirmed as Donegal councillors repeat calls for meetingNext articlePSNI investigate Dungiven shooting incident News Highland Pinterestlast_img read more

Strong winds knock out power to Donegal homes

first_img 88 homes have lost power this (Friday) evening as strong winds effect the northwest.The power outage is in the Gweedore area. The ESB says it is working to have supply restored.The worst of the wind is expected to pass by 11pm on Friday night.Met Eireann issued the following warning:Wind Warning for Donegal, Galway, Leitrim, Mayo, Sligo, Clare, Cork and Kerry: Strong to gale force southerly winds will gust 110 to 130 km/h today and for a time tonight. Valid: 28 Dec 2012 – 15:00 to 28 Dec 2012 – 23:00 Facebook Further drop in people receiving PUP in Donegal WhatsApp Google+ Twitter Pinterest Facebook Pinterest Strong winds knock out power to Donegal homes Previous article66-year-old man dies tragically in Drumkeen accidentNext articleHigh Winds: Motorists urged to take care – power returned to most homes News Highland Google+center_img Main Evening News, Sport and Obituaries Tuesday May 25th Twitter News By News Highland – December 28, 2012 Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republic WhatsApp 75 positive cases of Covid confirmed in North RELATED ARTICLESMORE FROM AUTHOR Gardai continue to investigate Kilmacrennan firelast_img read more

Buncrana councillors approve 2011 Financial Statement

first_img Google+ Man arrested on suspicion of drugs and criminal property offences in Derry Facebook Facebook By News Highland – May 10, 2012 WhatsApp Twitter Twitter Buncrana councillors approve 2011 Financial Statement 365 additional cases of Covid-19 in Republic Main Evening News, Sport and Obituaries Tuesday May 25th WhatsAppcenter_img Pinterest Buncrana Town Council’s finances are moving in the right direction, according to Mayor Cllr Nicholas Crossan.Cllr Crossan was speaking after the council approved a draft unaudited financial statement for 2011, showing that while the council did have a deficit of €335,000 last year, it fell for the third year in a row,The council had budgeted for expenditure of €3.34 million, and spent just over €3.6 million.Town Clerk Seamus Canning told members that matching higher than expected government grants accounts for much of the overspend.Cllr Nicholas Crossan says the deficit is coming down each year, and the fact that the council actually returned a small revenue surplus shows the care it is taking with its finances…..[podcast]http://www.highlandradio.com/wp-content/uploads/2012/05/ncros830.mp3[/podcast] Previous articleQuestions asked after Western Trust launches seperate Pseudonomas reviewNext articleAutism campaigner says Dail debate will help raise awareness News Highland RELATED ARTICLESMORE FROM AUTHOR Further drop in people receiving PUP in Donegal Pinterest Newsx Adverts Google+ 75 positive cases of Covid confirmed in North Gardai continue to investigate Kilmacrennan firelast_img read more