DS News Webcast: Tuesday 11/19/2013

first_img Previous: JPMorgan Chase Reaches $13B RMBS Settlement with U.S. Government Next: MountainView Brings Another Fannie Mae Portfolio to Market The Week Ahead: Nearing the Forbearance Exit 2 days ago DS News Webcast: Tuesday 11/19/2013 Servicers Navigate the Post-Pandemic World 2 days ago Is Rise in Forbearance Volume Cause for Concern? 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Home / Featured / DS News Webcast: Tuesday 11/19/2013 Demand Propels Home Prices Upward 2 days ago in Featured, Media, Webcasts The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img  Print This Post About Author: DSNews Subscribe 2013-11-19 DSNews Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago November 19, 2013 568 Views Sign up for DS News Daily Related Articleslast_img read more

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Citigroup Reports 7 Percent Net Income Growth in Q3

first_img 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. Home / Daily Dose / Citigroup Reports 7 Percent Net Income Growth in Q3 Related Articles in Daily Dose, Featured, Market Studies, News Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Citigroup reported an increase of 7 percent in its net income from $3.2 billion up to $3.4 billion year-over-year in the company’s 2014 Third Quarter Earnings Report released on Tuesday.The net income increase was driven by higher revenues and a decline in credit costs and was partially offset by higher operating expenses. Excluding credit value adjustment/debit value adjustment (CVA/DVA) in both periods and the tax benefit from the prior year, Citigroup’s net income for Q3 was $3.7 billion, representing a 13 percent year-over-year increase.Overall, Citigroup’s revenues increased by 9 percent year-over-year in Q3, up to $19.6 billion. Without CVA/DVA, the company reported revenues of $20 billion, which marked a 10 percent increase from the same period in 2013. The revenue increase was driven by Citicorp revenue growth of 8 percent and an increase in Citi Holdings revenues of 30 percent.Citigroup’s loans and deposits were each down by 1 percent in Q3 from the same period in 2013. Loans dropped slightly down to $654 billion while deposits fell to $943 billion. Citigroup’s loans increased by 1 percent and deposits remained largely unchanged on a constant dollar basis, however. Declines in Citi Holdings, driven mostly by the North America mortgage portfolio, partially offset growth in Citicorp.Global Consumer Banking (GCB) revenues in North America climbed by 5 percent in Q3 from the prior year up to $5.0 billion, reporting higher revenues in retail banking, Citi-branded cards, and Citi retail services. Revenues for retail banking jumped by 9 percent from Q3 2013 to Q3 2014, an increase that reflects a 9 percent increase in average loans and a 2 percent hike in average deposits. The gains in retail banking also reflect higher revenues in the U.S. mortgage business driven by an approximate $50 million repurchase reserve release in Q3. GCB net income in North America was reported at $1.2 billion in Q3, an increase of 33 percent from Q3 2013.Citi-branded cards revenues moved slightly upward by 1 percent up to $2.1 billion for Q3, and revenues for Citi retail services jumped up by 8 percent to $1.6 billion, largely driven by the acquisition of the Best Buy portfolio.Citi Holdings reported a net income of $238 million in Q3, compared with a net loss of $115 million from the same period a year ago. Excluding CVA/DVA, Citi Holdings’ net income was $272 million compared with a net loss of $113 million in Q3 2013. The gains in Q3 2014 were driven by higher revenues, lower operating expenses, and lower net credit losses. Net credit losses experienced a 45 percent decline in Q3 from the previous year, down to $347 million, fueled by improvements in the North America mortgage portfolio. The net loan loss reserve release plummeted by 79 percent in Q3 year-over-year, mostly due to the North America mortgage portfolio-related lower releases.Citigroup reported an earnings per share of $1.07 for Q3, an amount that increased to $1.15 per share excluding CVA/DVA. The Week Ahead: Nearing the Forbearance Exit 2 days ago Tagged with: Citi Holdings Citigroup Global Consumer Banking North America Mortgage Portfolio Quarterly Earnings Report Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 14, 2014 908 Views center_img Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Brian Honea Citi Holdings Citigroup Global Consumer Banking North America Mortgage Portfolio Quarterly Earnings Report 2014-10-14 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Previous: DS News Webcast: Tuesday 10/14/2014 Next: Wells Fargo, JPMorgan Chase Profits Turn Upward in Q3 Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily Subscribe Citigroup Reports 7 Percent Net Income Growth in Q3 The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

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CalyxSoftware to Host Second National User Conference

first_img Previous: ValuAmerica Expands Footprint With California Acquisition of ValuEscrow Next: Estimated $17 Billion April Credit Gain Only $8.2 Billion Bob Dougherty California Journal Movers & Shakers 2017-06-12 Staff Writer The Best Markets For Residential Property Investors 2 days ago CalyxSoftware, a leading provider of comprehensive mortgage software solutions for banks, credit unions, mortgage bankers, wholesale and correspondent lenders and brokers, announced that registration is now open for CalyxVision 18, the company’s second national user conference. The event will be held from February 11 to 14, 2018 at the Hilton San Francisco Union Square.“The event is designed to help our customers take their businesses to the next level,” Bob Dougherty, VP of Business Development at CalyxSoftware said. “In an ever-changing regulatory and technology environment, it’s important for every mortgage industry stakeholder to connect with regulators, partners, thought leaders, and peers to gain the knowledge needed to prepare for the changes ahead and achieve more success.”CalyxVision offers the unique opportunity for lenders and brokers to receive more than 16 hours of in-person, hands-on Calyx software training. Attendees will learn practices from Calyx software experts to help increase their company’s productivity and maximize profitability. In addition to training, CalyxVision attendees will enjoy a comprehensive educational experience with more than 20 hours of sessions covering industry hot topics. Speakers and panelists, as well as the complete agenda, will be announced at a later date.CalyxVision is best suited for mortgage industry professionals from all business types and roles, and attendance will help lenders and brokers gain valuable insights into the latest regulatory updates and changes from the Consumer Financial Protection Bureau, Freddie Mac and Fannie Mae.“We’re proud to provide our users with another high-quality, engaging educational and motivational national user conference,” Dougherty said. June 12, 2017 1,309 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / CalyxSoftware to Host Second National User Conference Share Save Sign up for DS News Daily About Author: Staff Writer Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Bob Dougherty California Journal Movers & Shakers The Best Markets For Residential Property Investors 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Headlines, News CalyxSoftware to Host Second National User Conference Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img read more

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Overspending After Closing

first_img Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] Overspending After Closing Subscribe in Daily Dose, Featured, Headlines, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago New Couch Syndrome Overspending 2017-07-26 Joey Pizzolato Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Joey Pizzolato The Best Markets For Residential Property Investors 2 days ago Previous: More Rules for HUD Next: 10 Cities Primed for Foreclosures Tagged with: New Couch Syndrome Overspendingcenter_img  Print This Post July 26, 2017 3,926 Views Without a doubt—whether it’s the first time or the fourth, buying a home is an exciting time. A new location, four new walls to settle into, what’s there not to look forward to? But aside from required expenses, such as closing costs, taxes, and necessary repairs, many homebuyers are making the mistake of overspending after closing.According to a recent study released by the National Bureau of Economic Research (NBER) and reported on by MarketWatch, homeowners spend on average about $5,000 extra after they move in, an effort to make their house feel more like a home. That figure, unsurprisingly, drops for second- and investment- homes to $3,700.NBER’s study analyzed the spending habits of 70,000 households from 2001 to 2013, and found that many people would unnecessarily replace working appliances in order to fit particular aesthetics.Sometimes referred to as New Couch Syndrome, buyers will frequently buy new furniture or kitchenware under the premise that a new house requires new things. Or to accommodate the fact that the buyer has upgraded, and they need to furnish additional bedrooms that they didn’t have before, often by financing instead of buying used. In fact, home-related expenses usually begin accruing three months before closing and continue well into a year afterward.The study also found that homebuyers under 35 and lower income households—those with a median annual household income below $57,000—spend more on home related costs than older or more affluent households. This statistic is attributed to the fact that may first-time homebuyers, who are younger, purchase houses that need more work than wealthier buyers.But buyers are also making other mistakes when they move into a new house. There is a tendency to make home improvements without considering the return on investment, such as upgrading windows without considering the market value. Unnecessary remodeling after move-in time is also something that homebuyers jump the gun on. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Home / Daily Dose / Overspending After Closing Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Related Articles Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

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Mulvaney Implements 30-Day Hiring & Reg Freeze Amidst Controversy

first_img Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: David Wharton in Daily Dose, Featured, Government, Journal, News Home / Daily Dose / Mulvaney Implements 30-Day Hiring & Reg Freeze Amidst Controversy [Update: 5:00 p.m.]During a press conference Tuesday afternoon, Office of Management and Budget Director Mick Mulvaney announced a 30-day hiring and regulatory freeze at the Consumer Financial Protection Bureau, amidst legal challenges from CFPB Deputy Director Leandra English. She was appointed as Acting Director of the CFPB by departing Director Richard Cordray, but President Trump then appointed Mulvaney to the role, and the weekend saw the two factions sending out both conflicting emails and, in the case of English, a lawsuit seeking a temporary restraining order against Mulvaney.In the past, Mulvaney has made no secret about his dislike of the CFPB, calling it a joke “in a sick, sad kind of way” and suggesting that it shouldn’t exist in the first place. However, he told reporters, “Rumors that I’m going to set the place on fire or blow it up or lock the doors are completely false.” He added, “I’m not here to shut the place down, because the law doesn’t allow that.” Instead, he vowed to “get [the bureau] to the point where it can protect people without trampling on capitalism.” He added, “We need to figure out a way to both follow the law and protect citizens, but without choking off access to capital.”Mulvaney didn’t walk his criticisms of the CFPB back too far, however. “My opinion of the structure of the CFPB has not changed,” said Mulvaney. “It is still an awful example of an agency gone wrong. I’m just learning about the powers I have as acting director. They would probably frighten you.”Mulvaney denied reports that both he and English had showed up at the CFPB to take on the role of Acting Director Monday morning, insisting English was a no-show. While acknowledging the reports of English’s lawsuit, he said he had not seen a copy of it nor had he been served. He then joked, “Only in Washington D.C. can you get sued for actually showing up for work.”After the press conference, Senator Elizabeth Warren (D-MA), announced plans to hold a rally and protest outside the CFPB headquarters in Washington D.C. tomorrow morning, Tuesday, November 28. She will call for Mulvaney to step aside and let Leandra English assume her duties as Acting Director of the CFPB. According to a press release, Warren and the Progressive Campaign Change Committee (PCCC) “will make the case that the American people need a CFPB director who will uphold the law and protect working families against wrongdoings by Wall Street and giant corporations.”The rally will begin at 12 p.m. EST on Tuesday, and Warren will deliver a speech at 12:30 p.m.During his press conference, Mulvaney addressed criticism from Warren and others by saying his tenure as Acting Director of the CFPB will be “as independent from Trump as Cordray was from Obama.”[Update: 1 p.m.]When Richard Cordray announced in mid November that he was stepping down as director of the Consumer Financial Protection Bureau, there was no question that big changes were in store. But few could have predicted just how complicated things would soon become. When Cordray announced his retirement, he appointed his chief of staff, Leandra English, as Acting Director of the Bureau. That same day, President Trump appointed Republican Congressman Mick Mulvaney as Acting Director of the CFPB. With both Acting Directors asserting their own claim over the position, English over the weekend filed suit, seeking a temporary restraining order. Now the CFPB general counsel has weighed in and said that the law backs the President’s appointment of Mulvaney.With both potential Acting Directors showing up for work Monday morning and sending official conflicting emails out to CFPB staff, there has been understandable confusion. While the smoke still hasn’t cleared over the situation, POLITICO obtained a memo wherein CFPB General Counsel Mary McLeod backed a Justice Department opinion that was issued over the weekend, throwing more weight behind the legitimacy of Mulvaney’s appointment.In the Saturday memo to the CFPB leadership team, McLeod said, “…it is my legal opinion that the President possesses the authority to designate an Acting Director for the Bureau.” McLeod advised all CFPB staff “to act consistently with the understanding that Director Mulvaney is the acting director of the CFPB.”With the Trump administration focusing on rolling back or streamlining governmental regulations across the board, the CFPB has been held up as a prime example of overregulation by people such as Mulvaney himself, who called the CFPB “a wonderful example of how a bureaucracy will function if it has no accountability to anybody” in a 2014 interview with the Credit Union Times.In response to McLeod’s memo, White House spokeswoman Sarah Sanders said:“Now that the CFPB’s own general counsel—who was hired under Richard Cordray—has notified the bureau’s leadership that she agrees with the Administration’s and DOJ’s reading of the law, there should be no question that Director Mulvaney is the acting director. It is unfortunate that Mr. Cordray decided to put his political ambition above the interests of consumers with this stunt.”However, McLeod’s memo doesn’t mean English’s lawsuit simply goes away. Both President Trump and Mulvaney are named as defendants in the suit, which states, “Ms. English has a clear entitlement to the position of acting director of the CFPB. The president’s purported or intended appointment of defendant Mulvaney as acting director of the CFPB is unlawful.”  Print This Post November 27, 2017 3,326 Views Mulvaney Implements 30-Day Hiring & Reg Freeze Amidst Controversy The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago tweet Servicers Navigate the Post-Pandemic World 2 days ago Previous: Where States and Metros Landed in Terms of Home Price Appreciation Next: Joseph Otting Sworn in as Comptroller of the Currency acting director CFPB cfpb acting director Consumer Financial Protection Bureau general counsel Justice Department leandra english Rep. Mick Mulvaney Richard Cordray Senator Elizabeth Warren 2017-11-27 David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] The Best Markets For Residential Property Investors 2 days ago Tagged with: acting director CFPB cfpb acting director Consumer Financial Protection Bureau general counsel Justice Department leandra english Rep. Mick Mulvaney Richard Cordray Senator Elizabeth Warren Subscribelast_img read more

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Collingwood Webinar Breaks Down 2018 Mortgage Trends

first_img Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Collingwood Webinar Breaks Down 2018 Mortgage Trends Homebuyers mortgage servicing rights Mortgages MountainView Financial Solutions The Collingwood Group Webinar 2018-02-10 David Wharton Share Save About Author: David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Collingwood Webinar Breaks Down 2018 Mortgage Trends Previous: Foreclosure Starts Continue to Dwindle Next: M&T Bank to Implement Black Knight’s Enterprise Business Intelligence Solution Related Articles Tagged with: Homebuyers mortgage servicing rights Mortgages MountainView Financial Solutions The Collingwood Group Webinar On Friday, February 9, MountainView Financial Solutions presented its monthly mortgage servicing rights (MSR) seminar, featuring Tim Rood, Chairman of The Collingwood Group, LLC. Rood presented a webinar entitled “Rightsizing Your Mortgage Business for 2018: Planning for the Uncertainties.” If you missed out on it when it was originally broadcast, now you can view a recording of the full webinar by clicking here.Looking forward, the webinar predicted that 2018 will definitely be a purchase market, with overall strong real estate markets in cities such as Seattle, Austin, Salt Lake City, Raleigh-Durham, and Dallas. The webinar predicted the top performing states of 2018 to be Nevada, Texas, and Florida.Las Vegas home values are expected to rise approximately 5.8 percent over the next year, having already risen 8.6 percent in 2017. On the Texas front, the webinar pointed out the influx of companies choosing to relocate or expand operations into Texas due to low taxes and a low cost of living. Home sales in Texas are expected to grow 6 percent in 2018, according to the webinar. For Florida, there is expected to be a 5 percent increase in most popular areas.The webinar highlighted several noteworthy trends from 2017, including an increased migration from large, expensive cities into more affordable mid-tier cities. The Rust Belt saw a spike in residents moving to Chicago, and Chicago, Boston, and Seattle saw the highest share of residents staying put in those respective cities.The webinar also explored the problem of data and document defects within the mortgage process. According to the webinar, a typical mortgage cycle from application to close averages 57 days, but only involves around 18 hours of “work in the file.” This is due to delays in receiving documents, and due to those documents often containing errors. According to the webinar, “40 percent of Documents Gathered are Incorrect or Deficient and go undetected for days or weeks” and “70 percent of Files are advanced Incomplete resulting in downstream Inefficiency and Rework.”You can watch the full webinar by clicking here. Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago  Print This Post The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Headlines, Journal, Media, News, Webinars Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago February 10, 2018 5,388 Views last_img read more

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5th Circuit Affirms Dismissal of Servicing Violations Suit

first_imgHome / Daily Dose / 5th Circuit Affirms Dismissal of Servicing Violations Suit in Daily Dose, Featured, Loss Mitigation, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The U.S. Court of Appeals for the Fifth Circuit recently upheld a District Court’s decision to dismiss a suit for alleged violations of certain servicing requirements for loss mitigation under the Real Estate Settlement Procedures Act (RESPA).In the case of Germain vs. US Bank and Ocwen Financial the district court had held that provision accounts for a servicer’s past actions by requiring compliance only once. Citing section 1024.41(d) (of Regulation X under RESPA) the District Court had dismissed the plaintiff’s claims under RESPA holding that the defendants, “(1) were not required to plead § 1024.41(i) as an affirmative defense, (2) had complied with § 1024.41 over the life of Germain’s loan, and (3) were required to comply with each of the requirements of § 1024.41 only once.§1024.41 requires mortgage servicers to evaluate a borrower for all loss mitigation options available and provide a notice stating their determination of such options, if any, upon receipt of a complete loss mitigation application.  However, the rule also provides that a servicer is required to comply with these requirements only once for a single complete loss mitigation application for a borrower’s mortgage loan account. In this particular case, the  plaintiff had maintained that he was “prejudiced by the defendants’ assertion of §1024.41(i) for the first time on summary judgment because he had already completed discovery without having received fair notice of that defense.”However the court ruled that the  defendants had denied this allegation, insisting that they had complied with that section and had cited § 1024.41(i) to expand their denial and was therefore not an “affirmative defense.” Additionally, the defendants had argued that “they could not have violated RESPA by failing to comply with § 1024.41 because they did, in fact, comply with that section.” As a result of these arguments, the court said that it agreed with the district court’s judgement that the defendants were not required to plead § 1024.41(i) as an affirmative defense.As reported in DS News, federal district courts interpreting Regulation X have previously held that since a private right of action was specifically articulated in §1024.41, the lack of such specific language in the remaining sections must necessarily mean that no such private right existed. This interpretation and analysis of § 1024.41 has been an extremely important for mortgage servicers and financial services attorneys as it limits a private right of action to claims arising from §1024.41 therefore limiting potential damage exposure significantly and provide a convenient basis to request dismissal.Click here to read the detailed ruling in this matter. Tagged with: Loss Mitigation mortgage Mortgage Servicers Regulation X RESPA Servicing Servicers Navigate the Post-Pandemic World 2 days ago 5th Circuit Affirms Dismissal of Servicing Violations Suit Subscribe  Print This Post Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Share Save Demand Propels Home Prices Upward 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago April 19, 2019 1,107 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Loss Mitigation mortgage Mortgage Servicers Regulation X RESPA Servicing 2019-04-19 Radhika Ojha Previous: CFPB to Discuss Dodd-Frank and More Next: Florida Court Re-Examines Foreclosure Attorney’s Fees Case About Author: Radhika Ojhalast_img read more

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Banking Committee Approves Marcia Fudge’s Nomination to be HUD Secretary

first_img  Print This Post Share 1Save February 4, 2021 13,046 Views in Daily Dose, Featured, News Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Previous: Is the Economy Stuck in Neutral? Next: Bankruptcy Filings Hit 15-Year Low Data Provider Black Knight to Acquire Top of Mind 2 days ago The Senate Committee on Banking, Housing, and Urban Affairs voted 17-7 in favor of Marcia Fudge’s nomination as Secretary of Housing and Urban Development (HUD).The committee held Fudge’s confirmation hearing last week, on January 28, 2021.Committee Chair Senator Sherrod Brown (D-OH) said Fudge will help lead the department to “a brighter future.” From his new elevated post, he used the hearing as an opportunity to say the Committee on Banking, Housing, and Urban Affairs has too long been almost solely about banking and too little about housing.  “The days of this committee doing the bidding of Wall Street are over,” he said.Opponents of Fudge’s confirmation included Pat Toomey (R-PA) who said she was one of the least bipartisan members of congress and that she has too little experience in housing policy.She assured the committee last week that she is willing to work across the aisle.The Biden Transition said in a press release, “A former mayor of Warrensville Heights, Ohio, and past Chair of the Congressional Black Caucus, Congresswoman Fudge is a longtime champion of affordable housing, urban revitalization, infrastructure investment, and other reforms to enhance the safety, prosperity, and sustainability of American communities.”Fudge, at her nomination hearing, said, “We need to make the dream of homeownership and the security and wealth creation that comes with it a reality for more Americans. That will require us to end discriminatory practices in the housing market.”Following Fudge’s hearing last week housing advocates called on the Senate to swiftly confirm. Industry insiders generally seem optimistic about Fudge’s ability and determination to make changes that will benefit segments of the population struggling with housing.”After [the] nomination hearing, it is clear that she is the ideal candidate to serve as HUD Secretary at this moment in history, Lisa Rice, President and CEO of the National Fair Housing Alliance (NFHA) said. “With over four million instances of housing discrimination each year and increases in housing-related hate crimes over the past several years, we are eager to work with the Biden-Harris Administration and Secretary-designate Fudge to make fair housing a reality for everyone and advance racial equity.”For the Up for Growth foundation, Mike Kingsella noted following the hearing that Fudge is “the person who will have the most impact on President Biden’s housing plan.”Up for Growth applauded Fudge’s denunciation, during her hearing, of NIMBY-ism (she said, “We have to get rid of this notion of Not in My Backyard”).Senator Brian Schatz, the Senate Democratic lead on the Yes In My Backyard (YIMBY) Act, during his questioning, drew a clear line from the redlining practices of the early 20th Century to the widespread use of exclusionary zoning laws today. Fudge said educating Americans on the negative impact of exclusionary zoning could be a role for HUD.Writes Kingsella: “We view Congresswoman Fudge’s selection as an indication the Biden Administration would use HUD as a vehicle to achieve racial equity and promote economic security and opportunity.”Some housing experts hope that HUD, under Fudge’s leadership, has the potential to accomplish unprecedented change, making housing a right rather than a privilege, according to Bloomberg’s CityLab.”Her first two policy priorities will be undoing rules set during the Trump administration that rolled back fair housing discrimination,” Malcom Glenn, a fellow in the Future of Land and Housing program at New America told CityLab. “But simply reinstating these protections are the floor of what is possible.”Brown said he will ask Senate Democratic Leader Chuck Schumer to bring Fudge’s nomination to the entire Senate as soon as possible, but said it could be delayed by the upcoming trial to impeach former President Donald Trump.“I don’t know if impeachment stops us from doing other things,” said Brown. “It’s something we don’t have a lot of historical precedent for.” Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 1 day ago Demand Propels Home Prices Upward 1 day ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2021-02-04 Christina Hughes Babb About Author: Christina Hughes Babb Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Banking Committee Approves Marcia Fudge’s Nomination to be HUD Secretary Home / Daily Dose / Banking Committee Approves Marcia Fudge’s Nomination to be HUD Secretary The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

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Irish Water begins work on new sewerage schemes in Donegal

first_img Previous articleGAA Programme – 22/06/16Next articleWork on long awaited Bonagee Link won’t start until 2021 at least admin Pinterest Facebook Three factors driving Donegal housing market – Robinson Google+ Facebook Pinterest By admin – June 23, 2016 448 new cases of Covid 19 reported today Google+ Nine Til Noon Show – Listen back to Wednesday’s Programme Twittercenter_img News, Sport and Obituaries on Wednesday May 26th NPHET ‘positive’ on easing restrictions – Donnelly Irish Water has confirmed that work has begun on the €18.4 million Donegal Group B project.The work includes the development of new sewerage schemes in Killybegs, Bundoran, Gleanncholmcille and Convoy.However Councillor Patrick McGowan says a question mark still remains as to when the Greenfields and Flaxfields estates in Convoy will be connected to the system.He says while he welcomes the upgraded work getting underway it is concerning the two estates are not included:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2016/06/pmgirishwater.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. RELATED ARTICLESMORE FROM AUTHOR Twitter WhatsApp Irish Water begins work on new sewerage schemes in Donegal Homepage BannerNews WhatsApp Help sought in search for missing 27 year old in Letterkenny last_img read more

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Three men charged with terrorist offences in Derry

first_img By News Highland – December 9, 2012 Three men charged with terrorist offences in Derry Previous articleFormer AssetCo worker tells CPWP rally “I may have to emigrate”Next articleThree men to appear in Court in Derry over rocket find News Highland Help sought in search for missing 27 year old in Letterkenny WhatsApp News 448 new cases of Covid 19 reported today Google+ Detectives investigating dissident republican activity in Derry have charged three men with the possession of explosives, conspiring to murder and possession of terrorist equipment.It follows the recovery of an armour piercing rocket in a car stopped by police in the Creggan area on Thursday evening.The men, who are in their 40s, are due in court in Derry tomorrow. Pinterest Calls for maternity restrictions to be lifted at LUH WhatsAppcenter_img Facebook NPHET ‘positive’ on easing restrictions – Donnelly Facebook RELATED ARTICLESMORE FROM AUTHOR Google+ Three factors driving Donegal housing market – Robinson Twitter Pinterest Twitter Guidelines for reopening of hospitality sector publishedlast_img read more

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