Month: May 2021

  • DS News Webcast: Monday 9/29/2014

    first_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Jordan Funderburk in Featured, Media, Webcasts Home / Featured / DS News Webcast: Monday 9/29/2014 More than 91 percent of borrowers nationwide who received mortgage loan modifications in the second quarter of 2014 had their monthly principal and interest payments reduced, while 56.1 percent of borrowers lowered their monthly payments by 20 percent or more, according to a report released earlier this week by the Office of the Comptroller of the Currency regarding first-lien mortgages at large national and federal savings banks. The OCC Mortgage Metrics Report, Second Quarter 2014 found that borrowers had their monthly mortgage payments reduced by an average of $252.From January 1, 2008, to March 31, 2014, servicers implemented more than 3.5 million loan modifications. About 59 percent of those loan modifications, or 2.1 million, were active at the end of the second quarter in 2014. The remaining 41 percent were no longer in the portfolios of their respective lenders due to having paid their mortgage in full, having been involuntarily liquidated, or having their loans transferred to non-reporting institutions. OCC reported that about 69 percent of the nearly 2.1 million loan modifications that were active at the end of Q2 were performing, while 25 percent were delinquent and 6 percent were in the process of foreclosure.The newest revised estimate from the Commerce Department shows economic growth expanded even more than previously thought in the second quarter, reflecting a sharp turnaround from the year’s opening months. In its third estimate, the Bureau of Economic Analysis reported Friday that gross domestic product increased at an annualized rate of 4.6 percent in the second quarter. The figure marks a step up from the bureau’s last estimate of 4.2 percent growth, which in turn was up from an advance guess of 4.0 percent. The Best Markets For Residential Property Investors 2 days ago 2014-09-28 Jordan Funderburk The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Previous: Report: Distressed Property Valuations No Longer Driven By Foreclosures, REOs Next: September Consumer Confidence Rises to Highest Post-Recession Level The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articlescenter_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Is Rise in Forbearance Volume Cause for Concern? 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago September 28, 2014 677 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago DS News Webcast: Monday 9/29/2014 Subscribelast_img read more

  • Local Bankruptcy Rule Updates for the Eastern District of Michigan Effective February 1, 2016

    first_img Bankruptcy Michigan 2016-02-16 Marcy Ford By Marcy Ford and Kim RattetEffective February 1, 2016, Local Bankruptcy Rules for the Eastern District of Michigan were extensively amended.  Several substantive changes that directly impact local practice in consumer bankruptcy cases include the following highlights; however, for a full breakdown of changes, please contact Marcy Ford at [email protected] or Kim Rattet at [email protected] RequirementsAll transfers of claim must include the claim number (E.D. Mich. L.B.R. 3001-1).Stipulations for Relief From the Automatic Stay (E.D. Mich. L.B.R. 4001-1) must be signed by all interested parties (i.e., the Debtor, Trustee and any other party with an interest in the property) or a  Motion to approve the stipulation must be filed. As a result, there will be no advantage in terms of the time frames to file a motion for relief vs. a stipulation.There is now an established procedure for Ex-Parte Motions seeking to redact protected private information. Under E.D. Mich. L.B.R. 9037, access to the pleading will be restricted while the motion is pending. A properly redacted replacement document must be filed within 7 days of the motion being granted.Chapter 7Reaffirmation agreement coversheets. E.D. Mich. L.B.R. 4008-1 requires that a reaffirmation agreement be accompanied by a coversheet, Offical Form B427. A copy may be found here.Chapter 11Where the Debtor has filed a combined plan and disclosure statement, the deadline for an 111(b) election is 7 days prior to the first scheduled date of the confirmation hearing (E.D. Mich. L.B.R. 3014-1).Chapter 13Procedures upon Chapter 13 Plan Completion (E.D. Mich. L.B.R. 2015-3)Section (a)(3) previously, included language in the discharge order that “any pre-petition or post-petition defaults have been cured and the claim is in all respects current, with no escrow balance, late charges, costs or attorney fees owing.” That language has been changed to read only that “any pre-petition or post-petition defaults have been cured.”Section (a)(7) that provides the debtor is not discharged from any obligation on any continuing secured debt payments that came due after the last contractually due payment to which the trustee’s last disbursement is applied.E.D. Mich. L.B.R. 2015-3(a)(4) clarifies that the requirement of a response to a notice of final cure under F.R. Bankr. P. 3002.1 no longer applies where the stay has been terminated as to a creditor. About Author: Marcy Ford in Featured, News The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago February 16, 2016 1,527 Views Marcy J. Ford is the executive vice president and a partner of Trott and Trott, PC, and serves as the chairperson of the firm’s executive committee. She is a member of the State Bar of Michigan, the Federal Bar Association, the Oakland County Bar Association, the American Bankruptcy Institute, the National Association of Chapter 13 Trustees, and the Consumer Bankruptcy Association of the Eastern District of Michigan. Ms. Ford is also a board member and vice president of the USFN – America’s Mortgage Banking Attorneys, which is a 50-state trade association serving the mortgage banking industry. She is a frequent lecturer and writer on foreclosure and bankruptcy issues in mortgage servicing. Servicers Navigate the Post-Pandemic World 2 days ago About Author: Kim Rattet Demand Propels Home Prices Upward 2 days ago Related Articles Tagged with: Bankruptcy Michigan Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Kim Rattet has been with Trott since May 2002, where she served as a staff attorney before being promoted to supervising attorney in 2003. Rattet graduated with a Bachelor of Science in biology from Eastern Connecticut State University and received her Master of Science in forensic science from the University of New Haven. She earned her Juris Doctor from the Thomas M. Cooley Law School, where she graduated magna cum laude with a concentration in litigation. Home / Featured / Local Bankruptcy Rule Updates for the Eastern District of Michigan Effective February 1, 2016 Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: DS News Webcast: Tuesday 2/16/2016 Next: Mortgage Defaults: New Year, Same Old Rates Share Save The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily  Print This Post 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 ago Local Bankruptcy Rule Updates for the Eastern District of Michigan Effective February 1, 2016 Payment changes (E.D. Mich. L.B.R. 3001-2(d)) was added that allows for a Notice of Inability to Comply with Timing Requirements. This applies to a creditor whose claim is secured by a mortgage for which the amount of the debtor’s payment obligation is subject to change more frequently than once every 60 days. Such a creditor may file a “Notice of Inability To Comply With Local Rule 3001-2(a) Deadline” as an attachment to any statement of proposed payment change filed under subpart (a) of this Local Rule. Upon the filing of a notice under this subpart (d), unless there is an objection filed within 14 days or the court orders otherwise, the trustee must effectuate the payment change stated in the notice of payment change rather than 21 days after service of the notice.Any pre- or post-petition plan that provides for surrender of property (E.D. Mich. L.B.R. 3015-1 and 3015-2) must include a statement that the requirements of Local Rule 3001-2 are terminated upon confirmation of the plan and that the co-debtor stay, as applicable, must be terminated. Subscribelast_img read more

  • Freddie Mac Peddles More Deeply Delinquent Loans

    first_imgHome / Daily Dose / Freddie Mac Peddles More Deeply Delinquent Loans Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago Deeply Delinquent Mortgages Freddie Mac Non-Performing Loans 2016-06-21 Brian Honea in Daily Dose, Featured, News, Secondary Market Tagged with: Deeply Delinquent Mortgages Freddie Mac Non-Performing Loans The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe 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. Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago June 21, 2016 1,173 Views Share Save Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Freddie Mac Peddles More Deeply Delinquent Loans Previous: Review Finds Concerns Over CFPB’s Management Next: Housing Gains Still Facing Obstacles Freddie Mac has announced that it has made yet another non-performing loan (NPL) sale via auction as part of its initiative to rid its mortgage-related investments portfolio of deeply delinquent mortgage loans.The transaction includes 2,879 deeply delinquent single-family residential mortgage loans with an aggregate unpaid principal balance (UPB) of $706 million. The loans are serviced by Bayview Loan Servicing and the servicing will be transferred post-settlement. The transaction is expected to settle in August 2016, according to Freddie Mac.Freddie Mac began marketing the transaction to potential bidders on May 25, 2016. The potential bidders to which the transaction was marketed included minority- and women-owned businesses, non-profits, and neighborhood advocacy funds as well as private investors, according to Freddie Mac.The breakdown of the five pools and the winning bidders is as follows:Three of the pools were geographically diverse, and one pool was concentrated in New York and the other in New Jersey. The loans sold were on average nearly five years delinquent.“Given the deep delinquency status of the loans, the borrowers have likely been evaluated previously for or are already in various stages of loss mitigation, including modification or other alternatives to foreclosure, or are in foreclosure,” Freddie Mac stated in its report.About 29 percent of the aggregate pool balance contained loans that were previously modified and subsequently became delinquent. The LTV ratio of the aggregate pool, based on broker price opinion, is about 92 percent.Freddie Mac has sold approximately $4.3 billion in non-performing single-family residential mortgage loans since the first pilot sale in August 2014. Freddie Mac’s regulator, the Federal Housing Finance Agency (FHFA), announced enhanced requirements in April 2016 for NPL sales, which FHFA says are focused on achieving the best borrower outcomes. 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 About Author: Brian Honealast_img read more

  • Elizabeth Warren Ends Bid for the White House

    first_img March 5, 2020 1,173 Views Subscribe Elizabeth Warren Ends Bid for the White House Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Sign up for DS News Daily CFPB Elizabeth Warren White House 2020-03-05 Mike Albanese Share Save Elizabeth WarrenMassachusetts Sen. Elizabeth Warren announced Thursday that she is dropping out of the race for the 2020 Democratic Presidential nomination. Former Vice President Joe Biden and Sen. Bernie Sanders are the last two contenders seeking the Democratic nomination. Michael Bloomberg announced Wednesday he was dropping out and endorsing Biden. CNBC reported Warren had a disappointing showing in Tuesday’s primaries, including finishing third in her home state of Massachusetts. Warren has been heavily involved in the housing and financial sectors over the past few months. In January, she proposed a plan to streamline bankruptcy laws by creating a single process and offering families far more flexibility in deciding how to discharge their debts.The plan would merge Chapter 7 and Chapter 13 into a single process.“The banking industry spent more than $100 million to turn that bill into a law because they knew it would be worth much more than that to their bottom lines,” Warren wrote. “But it was terrible for families in need.”She also helped create the Consumer Financial Protection Bureau (CFPB) during her time as a professor at Harvard Law School. The CFPB was designed to rein in abusive practices in consumer credit marks, such as home mortgages and credit cards. CNBC states it returned $12 billion to consumers between 2011 and 2017 but stopped pursuing enforcement actions under President Donald Trump. Warren released a statement following her announcement, said the changes made during her campaign “will have ripples for years to come.””We have shown that it is possible to inspire people with big ideas, possible to call out what’s wrong and to lay out a path to make this country live up to its promise,” she said.This story will be updated.  Related Articles About Author: Mike Albanese Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: CFPB Elizabeth Warren White House Demand Propels Home Prices Upward 2 days ago Previous: Home Flipping’s Ups and Downs Next: Tennessee Tornadoes Property Damage Hits $1B Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Elizabeth Warren Ends Bid for the White House Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Government, News The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

  • DS5: FHFA Director Discusses Forbearance

    first_imgHome / Daily Dose / DS5: FHFA Director Discusses Forbearance Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Coronavirus 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. in Daily Dose, Featured, Government, News The Best Markets For Residential Property Investors 2 days ago Share 2Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Coronavirus Could Halt Mortgage Payments Next: Richard Corday On CFPB’s Relief Response The Week Ahead: Nearing the Forbearance Exit 2 days ago April 6, 2020 2,135 Views Subscribecenter_img Demand Propels Home Prices Upward 2 days ago Coronavirus 2020-04-06 Seth Welborn DS5: FHFA Director Discusses Forbearance Related Articles In this episode of DS5: Inside the Industry, Federal Housing Finance Agency (FHFA) Director Dr. Mark A. Calabria discusses what regulators are doing to assist homeowners, lenders, and servicers, including the mortgage forbearance programs being offered to homeowners.Calabria recently urged borrowers to “be honest,” as borrowers do not need to show any proof of financial hardship in order to skip payments for up to a year.“We’re operating on the honor system,” Calabria said. “We are asking and we’re putting together a script for servicers. This is supposed to be limited to if you’ve lost your job, you’ve lost income. Please, if you haven’t lost your job, continue paying. If you can pay your mortgage please do so because we really need to focus on the people who can’t.”Despite the honor system in place, borrowers will still have to provide documentation when setting up their repayment plans.According to Calabria, up to 2 million borrowers could be applying for loan forbearance by May and said that mortgage servicers, as well as Fannie and Freddie, could handle that if it was just for a few months.You can watch the full episode here or via the embed below (Calabria begins at 3:10). Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily last_img read more

  • Donegal IFA against adding Defence responsibility to Agriculture Minister

    first_img Guidelines for reopening of hospitality sector published Donegal IFA against adding Defence responsibility to Agriculture Minister Calls for maternity restrictions to be lifted at LUH Google+ Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Twitter By News Highland – July 13, 2014 WhatsApp News Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2014/07/upFARM.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Facebook Twitter Facebook Minister Simon CoveneyThe Head of the IFA in Donegal has criticised the decision to add Defence to the portfolio of the Minister for Agriculture.It was confirmed as part of last weeks cabinet reshuffle that Minister for Agriculture, Food & the Marine Mr. Simon Coveney will now also take responsibility for Defense.Donegal IFA Chairperson PJ McMonagle says he is disappointing at the move: WhatsApp Three factors driving Donegal housing market – Robinson Previous articleListen Back to the ‘ Weekend Edition’ for July 12thNext articleQuigley may have next fight in August News Highland Almost 10,000 appointments cancelled in Saolta Hospital Group this week Pinterest Pinterest LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Google+ RELATED ARTICLESMORE FROM AUTHORlast_img read more

  • Derry councillor wants A5 money diverted to the Buncrana Road

    first_img Man arrested on suspicion of drugs and criminal property offences in Derry PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Facebook Pinterest Previous articleLifford water story to hit the national headlines – Deputy to raise the issue with Phil HoganNext articleParts of Donegal included in new Eircom high speed network News Highland Dail to vote later on extending emergency Covid powers News Twitter Pinterest Twitter Dail hears questions over design, funding and operation of Mica redress scheme By News Highland – May 16, 2013 center_img WhatsApp WhatsApp Derry councillor wants A5 money diverted to the Buncrana Road RELATED ARTICLESMORE FROM AUTHOR Google+ Man arrested in Derry on suspicion of drugs and criminal property offences released Google+ Facebook A Derry Councillor says some of the money set aside for the A5 should be spent upgrading the Buncrana Road in Derry.Sinn Fein Councillor Tony Hassan says an upgrade plan has been delayed for several years, and it is becoming more necessary given the extent of growth in that part of the city.Cllr Hasson says as a major arterial route connecting Derry with Donegal the Buncrana Road is not capable of taking the volume of traffic that use it on a daily basis……….[podcast]http://www.highlandradio.com/wp-content/uploads/2013/05/thass1pm.mp3[/podcast] HSE warns of ‘widespread cancellations’ of appointments next week last_img read more

  • DACC Chair to run as Independent Candidate in Donegal NE

    first_img Man arrested on suspicion of drugs and criminal property offences in Derry PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal Twitter HSE warns of ‘widespread cancellations’ of appointments next week Pinterest Pinterest Google+ Previous articleCouncillors McLaughlin and Harte slam NRA road allocations for DonegalNext articleSoccer – Zayed Signs With Derry News Highland Google+ WhatsApp Twitter Dail to vote later on extending emergency Covid powers center_img News By News Highland – January 25, 2011 WhatsApp RELATED ARTICLESMORE FROM AUTHOR 365 additional cases of Covid-19 in Republic Facebook Newtoncunningham based Health Campaigner Betty Holmes is to go forward as an Independent General Election Candidate in Donegal North East.Ms Holmes  is currently Chairperson of Donegal Action for Cancer Care, but says she is contesting the election as an individual candidate and will not be using the DACC name or purporting to represent the organisation.Ms Holmes says she is going forward to ensure that the health needs of the people of Donegal remain firmly on the agenda, both nationally and locally…………..[podcast]http://www.highlandradio.com/wp-content/uploads/2011/01/11betty1pm.mp3[/podcast] Facebook DACC Chair to run as Independent Candidate in Donegal NE Main Evening News, Sport and Obituaries Tuesday May 25thlast_img read more

  • CFP agreement is a “mixed bag” – Pat The Cope Gallagher

    first_imgNews CFP agreement is a “mixed bag” – Pat The Cope Gallagher Further drop in people receiving PUP in Donegal Pinterest Twitter Google+ Man arrested on suspicion of drugs and criminal property offences in Derry Pinterest Main Evening News, Sport and Obituaries Tuesday May 25th Facebook 365 additional cases of Covid-19 in Republic Facebookcenter_img Twitter 75 positive cases of Covid confirmed in North By News Highland – May 15, 2013 Previous articleAllstate Northern Ireland Managing Director not ruling out expanding premises at new Strabane Business ParkNext articleStrabane man Ryan Dolan through to final of Eurovision Song Contest News Highland WhatsApp WhatsApp RELATED ARTICLESMORE FROM AUTHOR North West MEP Pat The Cope Gallagher says the early morning deal secured by Minister Simon Coveney at the EU Council of Fisheries Ministers meeting in Brussels is a mixed bag.Minister Coveney has secured a new mandate from EU Fisheries Ministers to enter final negotiations with the European Parliament on a reformed Common Fisheries Policy.Agreement has been reached on a number of conservation issues, including discards,as well as regionalisation policies.In the parliament earlier this year, Mr Gallagher got agreement that the Hague Principles, which give extra quota to the Irish fleet, should be enshrined into the CFP. However, that hasn’t happened.Pat the Cope Gallagher says it’s one of the issues which will be discussed in the coming weeks……[podcast]http://www.highlandradio.com/wp-content/uploads/2013/05/coperaw.mp3[/podcast] Google+ Gardai continue to investigate Kilmacrennan firelast_img read more

  • Shiels hits out at delay in publishing HSE flood report

    first_img Gardai continue to investigate Kilmacrennan fire Further drop in people receiving PUP in Donegal A Donegal County Councillor is calling on the HSE to release to release its report into flooding at Letterkenny General Hospital, or explain what the delay is.It had been expected that the HSE’s flood report publication would be released in the next number of weeks, but it was reported locally yesterday that the publication is months away.Donegal County Council have complied their own report into the flooding, and that concluded that there was pre-existing knowledge of flood risks at Letterkenny General Hospital.Cllr Dessie Shiels says the HSE now needs to release its report immediately…………Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/04/dessihseweb.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Pinterest 365 additional cases of Covid-19 in Republic 75 positive cases of Covid confirmed in North Google+ WhatsApp Shiels hits out at delay in publishing HSE flood report By admin – April 8, 2015 Main Evening News, Sport and Obituaries Tuesday May 25th Homepage BannerNewscenter_img Facebook WhatsApp Google+ RELATED ARTICLESMORE FROM AUTHOR Man arrested on suspicion of drugs and criminal property offences in Derry Twitter Twitter Facebook Pinterest Previous articleCampbell says Donegal is set for a bumper tourism yearNext articleHome draw for Cockhill in FAI Senior Cup admin last_img read more