For Tech in Mortgage, Constant Innovation is Key

first_img February 6, 2018 1,777 Views  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines, News, Servicing Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Anthony Pham FinTech JMAC Lending Machine Learning OCR 2018-02-06 David Wharton Share Save Subscribe Demand Propels Home Prices Upward 2 days ago About Author: David Wharton Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago For Tech in Mortgage, Constant Innovation is Key Previous: Still No Peak in Sight for Home Values Next: FDIC Dodd-Frank Stress Test Scenarios Highlight Economic Expectations Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles You have an interesting dual role. You’re JMAC Lending’s CFO and Director of innovation. What does your day look like when it comes to balancing those two sides?As CFO my big focus is strategy and financial planning. I don’t think of my life as day-to-day, it’s more on a weekly basis. Every Monday we’ll revisit our strategy, and the biggest thing for us is to make sure that we’re meeting our goals as a company, our financial and strategic objectives. On the technology side, we have a technology team of eight people, and we’ve grown it from three. I work a lot with our IT team to make sure that we’re meeting our roadmap. Let’s say we have 15 projects going at the same time, and so our challenge is that our business people and our technology people, there are gaps in how they plan and in how they deploy software, so my thing is to really fill that gap until I’m no longer needed.You’ve talked about the challenges of that customer-facing side of things. How do you work to ensure that you’re making the best choices as far as what software to use and how do you work to put all those pieces together? Because it seems like there are so many different possible apps and so many possible technologies that you could use.You have to have a good vendor selection process, so we identify who the stakeholders are and we work to collect what their needs are. Their needs are typically tied to their current way of doing things and as we’re purchasing new technology, we don’t want that to continue, to keep doing the same thing. So the biggest focus for us these days is customer experience. Is the software easy to use from a customer-facing side, and then is it easy to use on an internal-facing side? That’s becoming more and more important …We want to spend less time administrating technology. We want less worry about the technology and more worry about the business. So the right technology partners are going to have a good design philosophy, and then they’re also going to have quick development cycles to be able to meet our demands or meet their client demands. I think historically, software has been very slow to release. Our Alloy Software releases on a quarterly cycle, and that’s … maybe that may have been pretty good back in the day. One year, two years ago. But I think with how technology is heading, it’s important to find a partner that is innovating on a weekly basis and has that fixed cycle.What are some of the technologies that you’re seeing that you think have a real chance of being transformative for the industry, in 2018 and beyond?I think there has been a lot of focus on customer-facing technology and I think a lot of people are missing out in terms of after you acquire the customer, how do you make sure that the rest of the process is efficient and effective? For the last 20 years, we’ve focused on manufacturing a product, being really good at that, but we never thought about the customer.So as we’re manufacturing, I think the customer is demanding more touch points. They’re demanding more transparency. So for us, I think our biggest challenge or opportunity is making sure that the technology is solving this problem and that our people are embracing it to help the customer. On a tactical level, that’s what our focus is, but I think on a strategic level, machine learning has a big play.Being in wholesale, one of our weaknesses is we get a hundred-page submission from our broker and we have to index it, we have to review it, we have to validate it. So if a system could index it … that’s relatively elementary for systems today, but if they could take the data out of it and interpret it and use that data to kind of pre-underwrite the loan, it would make the manufacturing process more efficient. So you’re just trying to get more data and being able to use that data as a person would. That’s a big area where there is opportunity.I think really understanding our customers and segmenting them into greater level of detail [is important]. Like our broker business, we could segment them into products and into size, but one of the big things is, we’re implementing marketing automation. And marketing automation allows you to understand your customer from a marketing standpoint. So you’ll send out your newsletters, right? They’ll click on it and you have that data point, and then you also have what they’re doing on your website, and then you also have how they interact with you as customers. So by having all those data points, it allows you to be more tailored and specific to your customers. Hopefully, [this lets you] predict what they’re thinking more effectively.One of our big initiatives is really incorporating OCR into our workflow. We have about 10 people in our company and their job is to index files. Indexing files is a big component of the processor’s job. … That’s a big thing about robotics and OCR is, you’re taking the monotony out of people’s lives so that they’re enabled to do more things. I think being in Santa Ana and Orange County, we have high bias towards ensuring that we integrate more robotics, more automation into our process. Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Anthony Pham FinTech JMAC Lending Machine Learning OCR The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / For Tech in Mortgage, Constant Innovation is Key Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

House-Flipping Hot Spots

first_img The Week Ahead: Nearing the Forbearance Exit 2 days ago July 31, 2018 2,731 Views The Best Markets For Residential Property Investors 2 days ago About Author: Scott Morgan 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 Sign up for DS News Daily Tagged with: Home Flipping Investment WalletHub Subscribe House-Flipping Hot Spots Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Home Flipping Investment WalletHub 2018-07-31 David Whartoncenter_img Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Previous: Freddie Mac Announces Q2 Results Next: Real Estate Development vs. Climate Change Share 1Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago House-flipping can be a lucrative endeavor. According to a WalletHub report released Tuesday, flippers made average gross profits of about $68,000 in 2017.But not all markets afford equal flipping opportunities. Midwestern cities and markets in states bordering Canada, for example, offer better flip-for-profit conditions than markets on either coast.Overall, the best market for flippers, per the report, is Sioux Falls, South Dakota, followed by Nampa and Boise, Idaho. These cities ranked best in return on remodeling and renovation costs, which, coupled with high quality-of-life scores, give flippers the best odds of selling a property for a decent profit.However, in terms of pure profit percentages, the Rust Belt can be quite good to flippers as well. According to WalletHub, Pittsburgh, despite having one of the lowest percentages of homes flipped, has the highest average gross return on investment at 145.45 percent. That’s 24.5 times higher than in Montgomery, Alabama, which had the lowest gross ROI at just under 6 percent.Alabama does offer some advantages to would-be flippers, however. At $50,000, Mobile has the lowest metro median purchase price for buyers in the country. That price is 14.6 times lower than in San Jose, where the median purchase price is $730,000. Montgomery is the second-most-affordable buy-in, followed by Cleveland; Columbus, Georgia; and Memphis.Meanwhile, Little Rock, has the lowest average full-home remodeling costs, coming in at just shy of $76,000. That’s five times lower than in Atlanta, where average full-home renovations run almost $376,000.Memphis, which landed in the middle of the study’s 172 markets, has the highest share of home flips, according to WalletHub. The city’s 12.76 percent share is almost times higher than in Albuquerque, where flipped properties are a genuine rarity. Just 1.35 percent of homes in that city are flipped. Flipping is also rarest in Bridgeport and New Haven, which each ranked near the bottom in terms of quality of live and remodeling costs, according to the report. The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post in Daily Dose, Featured, Investment, Journal, Market Studies, News Home / Daily Dose / House-Flipping Hot Spots Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Working Toward Freddie Mac’s Universal Mortgage-Backed Securities

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago FHFA Freddie Mac UMBS 2019-04-24 Seth Welborn Demand Propels Home Prices Upward 2 days ago  Print This Post Working Toward Freddie Mac’s Universal Mortgage-Backed Securities Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Related Articles Share Save About Author: Seth Welborn Freddie Mac recently announced that its Investor Reporting Change Initiative (IRCI) will revise Single-Family investor reporting requirements, beginning in May 2019, including moving the investor reporting cycle from mid-month to end-of-month and updating remittance cycles.The GSE states that it is making the changes to promote alignment and industry standards for the Uniform Mortgage Backed Security (UMBS).According to analyst teams at Morgan Stanley and JPMorgan, the joint Fannie Mae-Freddie Mac security, Uniform MBS, is set to roll out on June 3 and may cause a rise in volatility. In an article publsihed by Bloomberg, Morgan Stanley and JPMorgan analysts discuss their recommendations on the agency MBS sector following the recent widening of mortgage spreads.In the article, Morgan Stanley advised investors to “go long” the sector, citing a wider 30-year Fannie Mae current coupon Treasury option-adjusted spread as a positive.“The Fannie Mae current coupon spread over a blend of Treasury 5- and 10-year notes, a popular valuation method for mortgage investors, has widened 12 basis points to 85 since March 26, when it closed at its tightest level since January 31, 2018, according to data compiled by Bloomberg,” write Bloomberg reporter Christopher Maloney. “Its average level last year was 82 basis points.”Freddie Mac’s IRCI updates will be effective beginning with the June 6, 2019 monthly factor/disclosure for all currently issued PCs. This initiative will also apply to the new Freddie Mac UMBS and MBS, which Freddie Mac expects it will begin issuing on June 3, 2019.In March, the Federal Housing Finance Agency (FHFA) issued a final rule that requires Fannie Mae and Freddie Mac to align programs, policies, and practices that affect the cash flows of “To-Be-Announced” (TBA)-eligible Mortgage-Backed Securities. The agency statement indicated that this is a major step forward. “This rule demonstrates FHFA’s commitment to the success of the UMBS, which will promote liquidity and efficiency in the secondary mortgage market,” said Joseph Otting, FHFA Acting Director. Demand Propels Home Prices Upward 2 days ago Subscribecenter_img in Daily Dose, Featured, Government, News, Secondary Market Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: VFSAC Golf Classic: Supporting Military Veterans’ Housing Needs Next: FHFA Updates on Foreclosure Stats Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Working Toward Freddie Mac’s Universal Mortgage-Backed Securities Servicers Navigate the Post-Pandemic World 2 days ago April 24, 2019 2,773 Views Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: FHFA Freddie Mac UMBS 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. last_img read more

How Past Disasters Continue to Impact Single-Family Rentals

first_img Hurricane Investment Rental Sales 2019-06-18 Seth Welborn Home / Daily Dose / How Past Disasters Continue to Impact Single-Family Rentals How Past Disasters Continue to Impact Single-Family Rentals Sign up for DS News Daily Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, Investment, News Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Previous: Roadblocks Along the Path to Homeownership Next: The AI Factor: Charting the Industry’s Road Ahead 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. Related Articles About Author: Seth Welborn Servicers Navigate the Post-Pandemic World 2 days agocenter_img The Best Markets For Residential Property Investors 2 days ago CoreLogic’s SIngle-Family Rent (SFR) Index increased 4.1% since January 2018, according to CoreLogic’s 2018 SFR report, noting that low rental home inventory, relative to demand is fueling the growth of single-family rent prices.“Single-family rentals make up one-half of all residential rentals but are an overlooked segment of the housing market,” said CoreLogic Principal Economist Molly Boesel. “Much like the rest of the housing market, single family rentals are affected by market forces and fell rapidly during the Great Recession. They have since bounced back strongly from their low point in 2010, mirroring house price growth.”Rents increased 2.8% on average in the first half of 2018, with a cumulative rent growth of 4.2% for high end rentals. THe cumulative rent growth in the Houston area was 3.3%, as the 2016 hurricanes took its toll on coastal areas. Houston’s cumulative growth for the first half of 2018 remained among the lowest of the 20 analyzed metros. Hurricane impacted areas are recovering, and according to CoreLogic, the market saw its first increase of 1.1% in October 2017 and has continued to show impressive year-over-year increases in the first half of 2018, peaking at 4.4% in May 2018 and settling at 3.9% in June 2018.Rental demand has increased alongside home price increases, and affordability remains a significant issue for young potential buyers. “High demand and low supply of lower priced single-family rental properties continue to push up rents for this segment of the rental market,” said Boesel. “With these market forces expected to stay in place in the near term, rents on lower-priced rental properties should continue to outpace those of higher-end rental properties.”More recently, CoreLogic reported that the SFR market has begun to stabilize, with single-family rents up 2.9% year-over-year in March 2019, up from a 2.7% increase in March 2018.CoreLogic reports that the steady rent growth that began in 2010 has begun to stabilize, fluctuating between 2.7% and 3.1% for the past 12 months. March’s growth was propped up mainly by low-end rentals, defined as properties with rents 75% or less of a region’s median rent. Rents on lower-priced rental homes increased 3.5% year-over-year and rents for higher-priced homes, defined as properties with rents more than 125% of the regional median rent, increased 2.4% year-over-year. June 18, 2019 867 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago  Print This Post Tagged with: Hurricane Investment Rental Sales Subscribelast_img read more

Historic Hire for New York Law Firm

first_img Historic Hire for New York Law Firm Share Save Heather RogersDavidson Fink LLP announced that Heather Rogers has been elected as the firm’s first female Managing Partner. Rogers joined the firm in May 2003 where she focused on commercial and residential real estate, and managed the day-to-day operations of the Default Department, which she has continued to do for over 16 years.  Among the areas Rogers practices include banking, bankruptcy, businesses, creditors’ rights litigation, default servicing, loss mitigation, REO, and residential foreclosure and real estate. Rogers is a past chair of the then approximately 4,900-member Real Property Law Section (RPLS) of the New York State Bar Association (NYSBA), and is still involved with the Executive Committee of the RPLS as the Co-Chair of the Real Estate Finance Committee. She has also served on the board as the Section Vice-Chair and Section Secretary. Rogers was selected as a Super Lawyer for the past nine years and is also a Fellow of the American College of Mortgage Attorneys.Rogers was also a 2005 recipient of the Rochester Women’s Network Up and Coming Businesswomen Award. Rogers obtained her law degree from Duquesne University School of Law. Rogers is a frequent lecturer for the Monroe County Bar Association, New York State Bar Association, National Business Institute, and Lorman on a wide range of real estate related topics, including residential real estate, mortgage foreclosure and workouts, landlord tenant matters and UCC updates, and compliance. She also offers detailed training sessions to clients regarding the New York Judicial Foreclosure Process.Erin DiFrancescaThe firm also announced the promotion of Erin DiFrancesca to Director of Operations for the firm. She has been with the firm for 12 years and has held various roles within the firm, most recently Director of Default Operations. She has been running the Default Servicing Department alongside Rogers for the past seven years.  Sign up for DS News Daily 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 Tagged with: new hires Related Articles  Print This Post July 30, 2019 1,269 Views The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Historic Hire for New York Law Firm in Daily Dose, Featured, News Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago new hires 2019-07-30 Mike Albanese The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Fannie Mae Announces New CIRT Transaction Next: Gauging Risk for Renters Servicers Navigate the Post-Pandemic World 2 days ago About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

Digital Frontiers: The Next Generation of Mortgage Servicing

first_img About Author: Seth Welborn 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. The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Digital Frontiers: The Next Generation of Mortgage Servicing 2020-03-09 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago March 9, 2020 2,580 Views Subscribe Editor’s note: This feature originally appeared in the March issue of DS NewsFinding the balance between managing costs and prioritizing innovation has always been challenging. In the early days of 2020, however, the mortgage servicing industry is in a good place to think about the future, buoyed by a strong economy and poised to take advantage of promising fields of emergent technology such as blockchain, artificial intelligence, and more.DS News recently spoke with various fintech professionals and subject-matter experts about how technology is being used across the servicing landscape, and why a commitment to data security is more critical than ever. As the world continues to move ever further into a digital frontier, financial companies are working to address customer and client concerns while keeping key information safe from those with ill intent.Gagan Sharma, President and CEO of BSI Financial Services, stated that, as with the health of a human body, innovation is not just an immediate response, but rather an ongoing process.“We always need to be innovating,” Sharma said. “It becomes a question of, in what area should we focus our efforts? As a company, we’ve said, the customer experience is becoming much more digital and mobile. We’ve made the determination as a company that we need to focus on the customer experience, and so we over-invested in technology in order to build those proprietary tools.”Embracing ChangeTechnology continues to play an integral role in the industry, and lenders and servicers are implementing automation enhancements to maximize efficiencies.Title agents and real estate professionals looking to satisfy their clients’ demand for swift transactions turn to fintech, which has the potential to “streamline time-consuming processes, increase security and improve the homebuying experience,” said Mark Fleming, Chief Economist at First American in a recent blog post.“The fintech revolution is here, and it is here to stay in real estate,” he added.According to the latest bi-annual First American Real Estate Sentiment Index, about 67% of title agents and real estate professionals intend to adopt new fintech in the next year. About 31% of those surveyed plan to do so in the next three to six months.The fintech tools with the greatest potential to quench the growing thirst for speed and efficiency within the industry, include secure communication/collaboration tools, according to the First American survey.However, technology is only useful if it actually solves a problem, according to Computershare COO Jeff Johnson. So, what problems can these advancements solve for servicers?According to Johnson, tech should be used to support customers, and with automation increasingly able to handle processing work, servicers can take a more hands-on approach to their customers.“Pre-process automation ensures accuracy, compliance, and efficiency,” Johnson said. “This allows servicers to focus their people on more complex defaults, troubleshoot discrepancies, and focus on customer care. Underwriters, default servicers, and service providers become more efficient and can take on a more meaningful advisor role.”As Johnson notes, for default servicers, increased levels of automation can create the best possible experience for customers by increasing the speed with which their default is processed and thus alleviating some of the stress and anxiety.“By hyper-automating the initial process, potential scenarios for defaults can be created and offered quickly before moving to a final default resolution,” Johnson says. “At some point, the time this process takes may become hours instead of days.”Jane Mason, CEO of Clarifire, echoes Johnson’s sentiment. Through automation, Mason notes, the needs of customers can be met faster and more efficiently, so long as proper processes are used.“It’s time that default servicers and service providers embrace workflow process automation by blending together artificial intelligence and robotic process automation for those straightforward, repetitive manual tasks,” Mason said. “Through interoperability, extending these capabilities to make connecting to other entities in our industry, is a crucial element moving forward.”Another way tech is improving efficiency is through visual classification technology, which, as it implies, is a non-text-based approach to classifying documents in loan files. Patrick Gluesing, President and CEO of The StoneHill Group, told DS News how this process can correctly identify over 99% of key loan documents, improving accuracy while lowering costs.“While normal technology-based classification starts with trying to create templates to do the identification, visual classification technology automatically groups visually-similar documents, thereby avoiding much of the heavy lifting ordinarily required for text-based classification,” Gluesing said.“This is critical as accurate classification is the basis upon which all mortgage document processing is dependent,” he added.Automation is not only efficient, but also compliance-friendly. When tech is able to take over the more mundane tasks a servicer faces, regulation becomes second nature.“Any technology that improves operational visibility, contains business logic, and aligns compliance with regulations, but is flexible enough to make changes, will always improve compliance,” Mason added.Keeping Information SafeA lot of information is shared during real estate transactions, and that information is valuable, leading to a rise in cyber crime among financial companies. Cybersecurity remains a top concern at a majority of lending institutions, according to the 2019 Regulatory & Risk Management Indicator released by Wolters Kluwer, with 78% of lenders reporting it as a top risk that will receive “escalated priority” in the next year.In a recent webinar hosted by Safeguard, Steve Roesing, President and CEO of ASMGi, stated that 69% of data breaches originated from outside sources, with 51% of breaches are caused by malicious or criminal attacks. Meanwhile, just 24% of breaches are caused by human error, and another 25% are caused by system glitches.Malware attacks made up 34.4% of attacks in 2019, the largest share of any other attack type. Meanwhile, account hijacking made up 18.2% of attacks. Among financial services institutions, there were 927 reported incidents, 207 of which included confirmed data disclosure. Web applications, privilege misuse, and other miscellaneous errors made up 72% of breaches.Most malicious breaches (88%) were reportedly done for financial reasons, while espionage made up another 10%.“That information can, in the wrong hands, become valuable and disruptive to the consumers or to the business owners,” said Bruce Phillips, SVP & Chief Information Security Officer at WEST.According to Phillips, the value of an identity has shot up in recent years. “Whereas, 10 years ago, a fully vetted identity might have been worth around a single dollar, now, depending on credit worthiness, identities may be worth something in the hundreds of dollars range. You could effectively be sitting on $1 million worth of target for a criminal,” Philips said.One rising concern facing the industry is wire fraud. According to data from the FBI, wire fraud is on the rise, with the Bureau reporting a 166% increase in reported wire fraud between 2017 and 2018. On the state level, governments are combating rising fraud risk through regulation, including the California Consumer Privacy Act.These regulations are the first step to combatting the national wire fraud epidemic, but it will also require extra care and attention at the servicer level to ensure fraud doesn’t continue to spread. This means encrypting non-public data and, eventually, moving to blockchain.Jane Mason said, “Extending the use of blockchain will help lock down not only the title aspects, but the servicing eligibility and qualification data collected from third-party services such as credit reporting.”For now, servicers must be proactive in monitoring the data going in and coming out, according to Regina Lowrie, President and CEO of fintech services company Dytrix. Employees must also be trained on phishing practices that fraud criminals use, and know how to identify fraud before it strikes.“We’re now validating recipient bank account number and ADA number for the lenders before they ever issue a wire, for anything,” Lowire said. “Even if it’s for a payoff.”“I believe that limiting the email traffic with a third-party that is on an unsecured network is the best practice,” she added.Stormfronts Ahead?”Ultimately, the industry is expected to embrace new digital technologies where it supports clear efficiencies and a cost-benefit,” said Fitch Ratings during their fourth annual U.S. RMBS servicer roundtable event. “However, servicers that are most effective in leveraging technology to directly embrace challenges such as the anticipated LIBOR transition, periodic catastrophes, and industry competition are more likely to be successful in 2020 and beyond.”According to Fitch, U.S. RMBS servicers showed an improved awareness of difficulties and implications tied to the anticipated expiration of LIBOR at the end of 2021. These servicers are also preparing for natural disasters as risk increased over the past decade. Servicers use FEMA-designated disaster area notifications to assess the initial impact to their borrowers.Strategies that servicers are employing include waiving late fees, temporary credit bureau reporting cessation, and short-term forbearance plans. The GSEs, as well as private investors, have policies that address most disaster scenarios, and such policies have been institutionalized across the mortgage servicing industry. RMBS servicers agreed that while natural disaster frequency has increased, the impact to their portfolios has so far been minimal.Servicing also faces numerous challenges that can be mitigated by tech in the aftermath of a natural disaster. Many of these issues stem from the length of the processes involved and the amount of information needed, Johnson noted.“Various technologies can streamline post-disaster servicing processes, provide resolutions quickly, and allow servicers to offer better customer-care during an extremely stressful time—especially for customers facing the hardship of default.”According to Jane Mason, disasters, as tragic as they are, can be a time for advancement.“Technology needs to help reduce risk for servicers, as well as their borrowers and investors,” Mason said. “Consider implementing technologies that can seamlessly take the customer from onboarding through each phase of servicing, including loss mitigation—with no gaps. Such capabilities are valuable for servicing in general but even more important when evaluating an uncontrollable event such as a natural disaster.”New technology is already making disaster response easier, as servicers are able to react quicker and more efficiently. Of course, the benefits of advancing tech are not just limited to disaster prep and recovery. Before disaster strikes, predictive analytics can forecast risks of default and possible losses, giving the customer the assistance they need faster and far more efficiently. Johnson explains that a rules-based technology platform married with digital photography streamlines the whole valuation process, giving hundreds or even thousands of valuations within days, but how does it work?“A rules-based technology system will identify the damage through digital photos and create a cost estimate of damage —including cost of repairs—based on ZIP code,” Johnson said. “This is done by reading images and connecting them to data. This type of rules-based valuation platform processes each post-disaster property within minutes once the digital photos are uploaded.”Training for the FutureWith new tech in place, the next generation of servicers needs to have the know-how to effectively manage the digital future. Clients and customers will be the most important part of the conversation, as they will feel the immediate impact of emerging tech. How are tech professionals training their teams to stay on top of change, and what part does the customer play?“The idea of ‘training’ really isn’t just a linear training program,” Johnson said. “Instead, we look at employees, clients, customers, technology, and solutions as one continuous conversation. The ultimate objective is that clients are the most important part of this conversation, but all the other audiences contribute to customer service.”Johnson goes on to note that constant feedback from servicing clients and employees is vital to the technology integration process, and new generations are increasingly tech-savvy enough to give reliable feedback on self-servicing.“Fintech is a tool to sustain customer satisfaction and retention. Through retention comes growth,” Johnson adds. “Through growth, there is profitability.” Demand Propels Home Prices Upward 2 days ago in Daily Dose, Featured, News, Print Features, Technology Previous: High-End Renters Are Changing the Market Next: Industry Groups Applaud FHA CWCOT Changes Share Save Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Home / Daily Dose / Digital Frontiers: The Next Generation of Mortgage Servicing 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 Sign up for DS News Daily last_img read more

Low-End Rentals Driving Inventory Increases

first_img Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Investment, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn CoreLogic Inventory Rental 2020-03-26 Seth Welborn Subscribe  Print This Post Related Articles Servicers Navigate the Post-Pandemic World 2 days ago March 26, 2020 845 Views Tagged with: CoreLogic Inventory Rental The Best Markets For Residential Property Investors 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Low-End Rentals Driving Inventory Increases The Best Markets For Residential Property Investors 2 days ago Low-End Rentals Driving Inventory Increases Demand Propels Home Prices Upward 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Freddie Mac Ceases Issuing LIBOR Securities Next: Policymakers ‘Learned Lessons’ from Great Recession in Stimulus Package Share Save 2019 marked the ninth year of annual increases in the CoreLogic single-family rent index, which measures changes in rents paid for single-family homes in the U.S.  After rebounding from decreases experienced from 2009 to 2011 during the Great Recession, single-family rents settled in at about a 3% per year increase for most of 2019, ending the year with a 2.9% year-over-year increase in December.Increases in rents were higher for lower-priced rental properties than for higher-priced rental properties, continuing a trend that started in 2014. In December 2019, properties with rents 75% or less of a region’s median rent increased by 3.4% year over year, compared with 2.5% year over year for properties with rents more than 125% of the regional median rent.Strong economic growth, coupled with the lowest unemployment rate in over 50 years, contributed to strong household formation in 2019, including a small increase in the number of renter households. Already-low rental home inventory, relative to increased demand, drove the rental vacancy rate on one-unit homes down to 5.2%, which was the lowest one-unit rental vacancy rate since 1995.Mobility also played a role in rent increases, especially at the metro level. While most states in the U.S. saw an increase in population in 2019, some states saw larger increases than others, and some experienced a decrease in population. Arizona ranked third for population growth in 2019 by both number and percentage increase. This population growth is reflected in high rent increases in both Phoenix and Tucson, which had some of the highest year-over-year rent growth in the country for the past year. In contrast, Illinois and Hawaii both had a decrease in population in 2019, which could account for the slower rent growth in Chicago and Honolulu. Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Donegal airport closed until noon on Monday

first_img Twitter LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – May 16, 2010 Pinterest Donegal airport closed until noon on Monday Google+ Pinterest Facebook Twitter Almost 10,000 appointments cancelled in Saolta Hospital Group this week Three factors driving Donegal housing market – Robinson Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margeycenter_img RELATED ARTICLESMORE FROM AUTHOR The Irish Aviation Authority has confirmed closed until midday tomorrow as a result of further volcanic activity in Iceland.City of Derry Airport is also closed today, as are other airports in Belfast and in Britian. Previous articleNorth West 200 spectator critically injuredNext articleContract signing for Killybegs Sewerage Scheme News Highland News WhatsApp WhatsApp Calls for maternity restrictions to be lifted at LUH Facebook Guidelines for reopening of hospitality sector published Google+last_img read more

Donegal Youth Service offering student grant application advice

first_imgNewsx Adverts Letterkenny Youth Information Centre is continuing a series of student grants information seminars for parents and prospective thirs level students, with an event in Donegal Town tonight and Milford tomorrow.Next week will see events in Carndonagh and Falcarragh, and a daily service including evening clinics is available at the Youth Information Centre on Letterkenny’s Port Road.The Donegal Youth Service says with significant changes to the grant system this year, its important that people are informed about the new online application system.Information Officer Martin Keeney is coordinating the seminars……….[podcast]http://www.highlandradio.com/wp-content/uploads/2012/07/marty1pm.mp3[/podcast] WhatsApp Facebook Guidelines for reopening of hospitality sector published Pinterest Donegal Youth Service offering student grant application advice Three factors driving Donegal housing market – Robinson Pinterest Calls for maternity restrictions to be lifted at LUH LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton By News Highland – July 3, 2012 center_img WhatsApp Google+ Previous articleDerry man bailed on August riot chargedNext articlePaint bomb attack on Apprentice Boys’ Derry HQ News Highland Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey Almost 10,000 appointments cancelled in Saolta Hospital Group this week Facebook Twitter RELATED ARTICLESMORE FROM AUTHOR Google+ Twitterlast_img read more

Tánaiste refuses to meet with the late Eddie Fullertons family.

first_img Almost 10,000 appointments cancelled in Saolta Hospital Group this week Tánaiste refuses to meet with the late Eddie Fullertons family. LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Twitter Pinterest Google+ Guidelines for reopening of hospitality sector published Google+ Facebook Homepage BannerNews Twitter Pinterestcenter_img RELATED ARTICLESMORE FROM AUTHOR WhatsApp Previous articleUS philanthropist named the recipient of the annual Tip O’Neill Irish Diaspora AwardNext articleWILD LIVES: Tune into Donegal’s Wild Side admin WhatsApp Donegal Deputy Pádraig Mac Lochlainn has said that the Tánaiste has refused to meet with the late Eddie Fullertons family.Former Cllr Fullerton was murdered by the UVF at his Buncrana home in 1991 and new evidence of collusion was presented in an RTE documentary recently.A fortnight ago Deputy Mac Lochlainn asked the Tánaiste during Leaders Questions to meet to listen to the Fullerton family’s concerns. Joan Burton said she would consider it.Since then Deputy MacLochlainn has written to the Tánaiste to seek to arrange a convenient time.But in a reply, Joan Burton said she was too busy. Deputy MacLochlain says he’s disgusted:Audio Playerhttp://www.highlandradio.com/wp-content/uploads/2015/07/padraw.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. GAA decision not sitting well with Donegal – Mick McGrath Calls for maternity restrictions to be lifted at LUH By admin – July 1, 2015 Nine Til Noon Show – Listen back to Wednesday’s Programme Facebooklast_img read more