The U.S. Census Bureau released its construction statistics for October—which shows permits, starts, and completions—recorded a 4.9% increase in housing starts in October compared to September. Fannie Mae's Chief Economist Doug Duncan points out that the increase was driven by single-family housing ...
Read More »Smaller-Scale Property Investors Feel Mounting Fiscal Pressure
Smaller-scale landlords report feeling increasing pressure due to the COVID-19 pandemic and related forbearance plans and eviction moratoria. A co-study by Urban Institute and Avail, a platform that periodically surveys its landlords and tenants, showed 35.2% of the surveyed property ...
Read More »Two Industry Veterans Lead Law Firm’s Expansion
Philadelphia, PA-based Brock & Scott, PLLC announced the expansion of its default law practice into Pennsylvania and New Jersey. Rosemarie Diamond and Jay Jones, two recognized industry veterans with a combined 45-plus years protecting creditors' rights in the states of ...
Read More »How Servicers Can Assist Struggling Borrowers
Editor's note: This story originally appeared in the November edition of DS News. Steve Bailey, Senior Managing Director and Chief Mortgage Operations Officer at PennyMac Financial Services, Inc., has held a variety of roles and responsibilities since joining PennyMac in 2010. He is responsible for ...
Read More »Households ‘Reasonably Well-Positioned’ to Handle Economic Downturn
The near-future state of the U.S. economy is predicated on how policymakers and the public respond to the increasing number of COVID-19 cases, according to the latest commentary from the Fannie Mae Economic and Strategic Research (ESR) Group. The ESR ...
Read More »Will Suburban Migration Continue?
The arrival of the pandemic to America has caused numerous trends to appear in the housing industry, among which include increased demand for housing away from the big cities. A recent report posted by the National Association of Home Builders ...
Read More »Extensions Account for Most Forbearance Activity
The Mortgage Bankers Association's (MBA) reported this week that the number of loans in forbearance dropped last week, marking the 11th week in a row of decreases. MBA estimates that as of November 8 2.7 million homeowners are in active ...
Read More »Back to the Future With California’s Regulatory Reforms
California takes a time machine to the era of Dodd-Frank reform with its Department of Financial Protection and Innovation. Editor's note: this piece previously appeared in the November printed edition of DS News.
Read More »Agents Embrace Effort to Expand Private Flood Insurance
A life preserver of sorts will be available to homeowners submerged in the troubling waters of flooding, according to the National Association of Realtors— that is thanks to action the Federal Housing Administration (FHA) announced last week, related to the ...
Read More »A Week of ‘Strong Forbearance Improvement’
After declining by 5% last week, the number of mortgage loans actively in forbearance dropped again this past week, according to Black Knight, which calls the week of November 3-10 one of "strong forbearance improvement." "The decline was seen across ...
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