Team Thayer Property Servicing

Despite seeing a slight month-over-month increase, the national delinquency rate on residential single-family homes experienced its largest decline in nearly four years, according to  Black Knight Financial Services '  "First Look" at Mortgage Data for August 2015  released Friday. The delinquency rate, which includes residential homes that are 30 days or more overdue on mortgage payments but not in foreclosure, tumbled by 18 percent year-over-year in August down to 4.83 percent, the largest over-the-year decline since May 2011, according to Black Knight. This occurred despite a 2.5 percent uptick over-the-month in the delinquency rate for August 2015. That 4.83 percent of properties in delinquency calculates to about 2.45 million mortgages nationwide, and the over-the-year decline represents about 548,000 properties. Non-current inventory, which includes all properties with loans 30 days or more overdue or in foreclosure, was down by 766,000 year-over-year in Aug...

While housing counselors across the country report improved communications with servicers in the area of helping struggling borrowers avoid foreclosure, there is still more work to be done,   according to a report   released Thursday from the National Foreclosure Mitigation Counseling ( NFMC ) program. NFMC is a congressionally-funded effort launched in December 2007 to address the foreclosure crisis by making more housing counselors available to families at risk of losing their homes to foreclosure. In slightly less than eight years, NFMC has helped approximately 1.9 million homeowners understand their foreclosure prevention options. The funds are distributed by Washington, D.C.-based community development non-profit and grant maker  NeighborWorks America  to grantee organizations, which in turn provide the housing counseling services. The report released Thursday was NFMC's 11th report to Congress. Team Thayer Real Estate News Eugene Oregon “Servicer in...

Fannie Mae   announced on Thursday  the completion of another risk sharing transaction as part of an ongoing effort to reduce risk to the taxpayer by increasing the role of private capital in the mortgage market. This transaction is the fourth in Fannie Mae's Credit Insurance Risk Transfer ( CIRT ) series, and third since the start of 2015. In the CIRT series, credit risk for a pool of loans is transferred to a panel of reinsurers. The latest transaction, named CIRT-2015-3, included international reinsurers for the second time in four transactions, according to Fannie Mae. The transaction became effective on August 21, 2015. "As the leading manager of single-family residential credit risk in the industry, we are focused on building a safer, sustainable housing system and our CIRT deals help these efforts," said Rob Schaefer, VP for credit enhancement strategy & management. "Reinsurers seem to understand and appreciate our approach to managing credit risk ...

Lenders across the U.S. appear to be offering borrowers a second chance at obtaining a mortgage by originating more subprime mortgages for borrowers with credit scores under 620. Equifax 's recent  National Consumer Credit Trends Report  found that subprime mortgage originations soared higher during the first five months of 2015. First mortgages, home equity installment (HE) loans, and home equity lines of credit (HELOCs) all experienced an uptick in subprime originations compared to the same period last year. The amount of first mortgage originations to borrowers with subprime credit scores increased 30.5 percent, HE loans rose 29.5 percent, and HELOCs rose 20.4 percent. "It appears that American lenders still believe in second chances, and without subprime loans, there would be no second chances in the housing market." Equifax explained that although subprime orginations are rising, overall, these originations are only a small portion of total originations a...

Team Thayer Real Estate News Eugene Oregon The share has risen above previous year levels since April 2015, reflecting improvements within the labor market, riskier mortgage lending, and continuing low mortgage rates. This and a 35-month-long seller’s market for existing homes are causing home prices to increase much faster than income. “The strong spring 2015 home buying season has been paced by outsized gains for first-time buyers,” said Edward Pinto, co-director of the AEI’s International Center on Housing Risk. “Unfortunately, these gains are fueled in part by liberalized credit standards, which is creating demand pressure and driving real home prices higher. This will lead to future instability.” Team Thayer Real Estate News Eugene Oregon The Federal Housing Administration ( FHA ) had a share of first-time homebuyers in August at or above 80 percent,  Fannie Mae ’s share stood at 43.3 percent, and  Freddie Mac  had a share of about 40 percent, AEI r...

First-time buyers comprised 56.9 percent of primary owner-occupied home purchase mortgages with a government guarantee in August 2015, up from the 54.5 percent share last August, the  American Enterprise Institute (AEI)  reported in their  First-Time Buyer Mortgage Share Index (FBMSI) . The share has risen above previous year levels since April 2015, reflecting improvements within the labor market, riskier mortgage lending, and continuing low mortgage rates. This and a 35-month-long seller’s market for existing homes are causing home prices to increase much faster than income. “The strong spring 2015 home buying season has been paced by outsized gains for first-time buyers,” said Edward Pinto, co-director of the AEI’s International Center on Housing Risk. “Unfortunately, these gains are fueled in part by liberalized credit standards, which is creating demand pressure and driving real home prices higher. This will lead to future instability.” Team Thayer Eugene ...

While both non-foreclosure mortgage solutions and completed foreclosures were down over the year in July, the ratio remained virtually the same—more than four solutions for every foreclosure sale, according to  data for July 2015  released by non-profit alliance  HOPE NOW . The mortgage industry reported about 122,000 non-foreclosure solutions (including short sales, deeds-in-lieu of foreclosure, and other workout plans) for July, while about 29,000 foreclosures were completed. These numbers compare with 157,000 and 39,500, respectively, for July 2014, according to HOPE NOW. "At the end of June, the mortgage industry hit significant milestones for loan solutions and proprietary loan mods—24 million and six million respectively," said Eric Selk, Executive Director of HOPE NOW. "Based on July’s data, it is clear that servicers continue to work with customers to offer the best options —whether they are permanent, short term or liquidation. In fact, looking at the ye...

IMAGE: Getty Images The business of business isn't really all that complicated. While there is, of course, specific knowledge required for specific industries, this post encapsulates everything that you'll need to know to survive and thrive in the business world. The lists below are adapted and condensed from my recently published book,  Business Without the Bullsh*t: 49 Secrets and Shortcuts You Need to Know. HOW TO MANAGE YOUR EMOTIONS 1. How to Become More Optimistic EXPECT something wonderful to happen every day. TREAT people as you'd want to be treated. DON'T waste breath fighting about things you can't change. CONCENTRATE on the job at hand, not the results you seek. ASSUME other people mean well. AVOID depressing people and conversations. EAT something delicious every day. TURN OFF the background television. ADOPT an attitude of gratitude. REMEMBER that the best is yet to come. 2. How to Eliminate Stress...