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Author Archives: Brian Honea

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.

Distressed Sales Share Continues Year-Over-Year Decline, Falls to 12.1 Percent

March's distressed sales share was the lowest percentage for any March since 2007. According to CoreLogic, distressed sales usually experience a month-over-month decline in March due to seasonality; this past March, the distressed sales share fell by 1.9 percentage points from February. According to CoreLogic, 8.4 of home sales were REO (real estate-owned) transactions in March 2015, while 3.7 percent were short sales, totaling 12.1 percent.

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Retention Actions Down Overall, But Up As Share of Serious Delinquencies

In Q1 2015, Black Knight found that about 15 percent of seriously delinquent mortgage loans participated in a home retention program each month, while nearly 20 percent of serious delinquent borrowers were actively in an active trial mod or repayment plan at the end of April. Home retention actions included permanent proprietary mods and permanent mods through the government's Home Affordable Modification Program (HAMP).

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Data Shows April Was Prosperous For Housing

In the NAHB's Eye on Housing blog, Crowe cited a number of positive housing statistics that indicate that April was a prosperous month for the industry in spite of the U.S. economy contracting at an annualized rate of minus 7 percent in Q1. The lack of economic growth in Q1 did nothing to damper economists' predictions about housing recovery for 2015, however, largely because of strong April numbers.

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Ocwen Reacts to Recent Actions By Credit Ratings Agencies

Ocwen Financial Corp. reacted to the recent developments in the last week that included a ratings upgrade from Moody's and being placed Standard & Poor's CreditWatch list for a downgrade, with a press release on Friday in which the company's president and CEO praised the company's progress and said he was "surprised" by S&P's move.

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Housing Market Will Benefit From Increased Job Gains, Economists Say

Revised, employment gains for March and April were a combined 32,000 more than previously reported (March's job gains were revised from 85,000 up to 119,000, and April's were revised down slightly from 223,000 to 221,000). With approximately 3.01 million jobs added in the last year and the job situation seemingly recovered from a disappointing March, the housing market may be reaping the benefits later in the year, according to analysts.

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Bill Passes House With Amendment Barring DOJ From Funding Disparate Impact Claims

Representative Scott Garrett (R-New Jersey) proposed the amendment to H.R.2578, known as the Fiscal Year 2016 Commerce, Justice, and Science Appropriations Act, sponsored by Representative John Abney Culberson (R-Texas) and introduced on May 27. The act, including Garrett's amendment, passed largely among party lines by a vote of 242 to 173 on Wednesday with only 12 Democrats voting in favor and only 10 Republicans voting against.

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Judge Rules JPMorgan Chase Is Not Responsible For WaMu’s Pre-September 2008 Liabilities

With the ruling, Judge Rosemary Collyer in the U.S. District Court for the District of Columbia settled a long-standing dispute over who is liable for facing the claims – JPMorgan has contended that the FDIC should be responsible because of its receivership of Washington Mutual, and the FDIC has countered that JPMorgan should pick up the bill because of its acquisition of Washington Mutual.

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