Editor: David Reiss
Brooklyn Law School

August 17, 2017

Thursday’s Advocacy & Think Tank Roundup

By Jamila Moore

  • Mortgage rates hit their lowest point since Trump was elected to president. Despite the lower mortgage rates, home seekers are not applying for home loans. In fact, home mortgage applications increased a mere 0.1 percent in the week prior. One may believe any increase is good for the economy; however, at this time last year, home mortgage applications were 22% higher.
  • Harvard’s Joint Center for Housing Studies recently analyzed homes and their energy efficiency. The study determined homes are more energy efficient than they were in the early 2000s. For instance, in 2009, most homes built before 1980 were not properly insulated. Today, that is not the case, these same homes have received energy audits and have better energy efficient heating systems.

August 17, 2017 | Permalink | No Comments

August 15, 2017

Tuesday’s Regulatory & Legislative Roundup

By Jamila Moore

August 15, 2017 | Permalink | No Comments

August 14, 2017

Monday’s Adjudication Roundup

By Jamila Moore

  • Homeowners in California are close to receiving what’s owed to them.  A San Francisco federal judge approved a preliminary settlement of $750,000 for the bank’s role in their prior loan modifications.
  • A D.C. Circuit panel determined a United States Housing and Urban Development (HUD) investigator was potentially harmed by the agency’s refusal to approve a lateral transfer. In a sudden shift, the court recently reversed its prior ruling.
  • A township is excited. A New Jersey state appeals court ruled that a Montclair homeowner will not have its attorney’s fees paid by the municipality. This ruling stems from the construction of an assisted living facility.

August 14, 2017 | Permalink | No Comments

August 11, 2017

Friday’s Government Reports Roundup

By Jamila Moore

  • The United States Department of Housing and Urban Development (HUD) continues to find ways to support homelessness. Recently, HUD released the third part of it’s Disaster Recovery Homelessness Toolkit, entitled Recovery Guide for Local Jurisdictions. The guide specifically targets governments and municipalities which want to pursue long-term recovery after individuals are displaced after homelessness.
  • Chicago is attempting to support ex-convicts as well as homelessness in Chicago. Chicago Housing Authority (CHA) created a program to assist recently released prisoners with garnishing housing in public housing complexes or a willing relative in a public housing complex. An ex-offender’s aid is contingent upon their follow-up after prison and receipt of continuous monitoring. While Chicago’s program caps at a mere 50 persons, the program aids in Chicago’s overcrowding of homeless shelters. In Chicago, 1200 of the released prisoners transfer directly into homeless shelters.

August 11, 2017 | Permalink | No Comments

August 10, 2017

Thursday’s Advocacy & Think Tank Roundup

By Jamila Moore

  • Homeowners no longer have to flock to their attorney’s office or an agreed upon place in order to complete the closing process. United Wholesale Mortgage, now offers e-closing. Beginning on July 28, 2017, the company began allowing refinancing borrowers to complete a virtual closing. Though many companies offer e-mortgages, e-closings are not as readily available.
  • Insights Blog released a report detailing May’s loan performance. The report noted loans in early stage delinquencies are at their lowest in 17 years. Additionally, New York has more loan delinquencies than any other metropolitan area. Further, the report mentions that homes in foreclosure across the nation are down 1%.

August 10, 2017 | Permalink | No Comments