Team Thayer Property Servicing

= While the data released on foreclosure sales and starts for the third quarter indicated substantial declines as those totals move toward pre-crisis levels, the number of non-foreclosure workout solutions seems to be declining at nearly the same rate, according to data released by  HOPE NOW  on Monday. HOPE NOW reported that the mortgage industry assisted approximately 337,000 homeowners in Q3 with non-foreclosure solutions that included both home retention and home forfeiture workout plans. By comparison, the industry completed 76,000 foreclosure sales during the quarter, which calculates to a ratio of 4.4 non-foreclosure solutions for every one foreclosure sale that was completed during the three-month period. While the number of foreclosure sales completed dropped significantly both over-the-quarter (15 percent, down from 89,000) and over-the-year (31 percent, down from 110,000) in Q3 2015, the number of non-foreclosure solutions also declined at similar rates—18...

The credit default swaps (CDS) market has declined dramatically since the financial crisis. Trading volumes in CDS—which are financial swap agreements in which the seller agrees to compensate the buyer of the CDS in the event of a loan default—are a mere one-fourth of what they were in 2008, totaling less than $9 trillion in amount outstanding nationally as of June 2015. What is the cause of the substantial drop in the CDS market, and what can be done to bring it back up? A report titled “ Can the Credit Default Swap Market be Salvaged ?” from the Kroll Bond Ratings Agency ( KBRA ) states that new laws and regulations focused on reducing the risk of over-the-counter (OTC) derivatives products is partly to blame for the dramatic decline. But KBRA also said in the report they believe the decline is “part of a larger trend by large, systemically significant global banks to move away from products and markets that are seen as problematic.” Raising some troubling questions for both ...

Freddie Mac ’s  Multi-Indicator Market Index  (MiMi) for October 2015 released this week remained in the outer range of stable and continues to slowly improve, but an economist from the GSE says the “vast majority” of housing markets are still trying to return to their long-term “benchmark normal” range. The national MiMi, which monitors and measures the stability of the nation’s housing market and the housing markets of all 50 states, the District of Columbia, and the top 100 metro areas, had a value of 81.3 as of the end of September, placing it in the low range of stable. It was still an improvement of 0.67 percentage points from August to September, a three-month improvement of 1.85 percentage points, and a year-over-year climb of 5.79 percentage points. September’s national MiMi value of 81.3 is 37 percent higher than its all-time low of 52.7 from October 2010, but still significantly lower than its all-time high of 121.7 set in April 2006 prior to the recession. ...

The  Financial Stability Oversight Council (FSOC)  was created out of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 in order to bring the financial regulatory community together to respond to risks to the financial system in order to prevent another financial crisis. Attempts are being made by financial industry advocates to weaken the FSOC. Those advocates are accusing the Council of being overzealous in protecting the financial industry. Weakening the FSOC would only prevent the Council from identifying risks to the financial system, therefore putting the country at risk of another devastating financial crisis, according to an  op/ed piece by Deputy Assistant Secretary for the FSOC at the U.S. Department of the Treasury Patrick Pinschmidt  on CNBC on Monday. “Unfortunately, there is legislation pending in both houses of Congress that would heavily tip the scales back in Wall Street's favor and leave our country vulnerable to another ...

Banks need to take steps now to avoid emerging credit risk in today’s financial system in order to prevent another financial meltdown, according to Comptroller of the Currency  Thomas Curry  in a public address on Monday . In a speech at the RMA Annual Risk Management Conference in Boston, Curry stated that the topic of credit risk was muted as recently as 2012 because banks were still in a post-crisis state of recovery and were being extremely cautious with lending—some believe too cautious. Three years ago, however, the need to discuss credit risk was minimal because loan demand was soft, consumer confidence was down, and businesses were reluctant to make loans to only the most creditworthy borrowers. In the last 18 months, however, banks have generally become profitable as economic conditions have improved, unemployment is down, and loan demand has increased, leading Curry to ask: “Where do we go from here? What will it take to ensure that banks remain solvent, stab...

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...

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...