August 16, 2017
Wednesday’s Academic Roundup
- A Cross-Country Study of Market-Based Housing Finance, Anderson and Kauko
- The Effect of Tax Expenditures on Automatic Stabilizers: Methods of Evidence, Kingi and Rozema
- You Can’t Lock the Doors! Are Lenders Powerless to Stop Zombie Properties in Lien Theory States?, Harris
- Reexamining the Empirical Relation between Loan Risk and Collateral: The Roles of Collateral Characteristics and Types, Berger, Frame, and Ioannidou
- Sectoral Loan Concentration and Bank Performance (2001-2014), Regehr and Sengupta
August 16, 2017 | Permalink | No Comments
August 15, 2017
Tuesday’s Regulatory & Legislative Roundup
- Anna Maria Farias was recently named Assistant Secretary for Fair Housing for the United States Department of Housing and Urban Development (HUD). Farias is responsible for “housing discrimination, promote economic opportunity, and achieve diverse, inclusive communities.“
- New York City now offers legal representation to all low-income residents facing eviction. Mayor Bill de Blasio signed this law into effect on August 11, 2012. Any resident with a looming eviction whose income rises to a “200 percent of the federal poverty level or less will receive state provided representation.” In New York, 90% of landlords are represented by counsel while tenants are usually unrepresented.
August 15, 2017 | Permalink | No Comments
August 14, 2017
Monday’s Adjudication Roundup
- 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
- 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
- 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
August 9, 2017
Wednesday’s Academic Roundup
- Heterogeneity in House Price Dynamics, Galati and Teppa
- Optimal Sharing of Interest-Rate Risk in Mortgage Contracts: The Effects of Potential Prepayment and Default, Brueckner and Lee
- A Comprehensive Look at Short-Term Rentals: A Spatial Economic Analysis of Seattle, Garza and Hooton
- Household Credit and Local Economic Uncertainty, Kermani, Maggio, Ramcharan, and Yu.
- The Secondary Mortgage Market- A Catalyst for Change in Real Estate Transactions, Malloy
August 9, 2017 | Permalink | No Comments
August 8, 2017
Tuesday’s Regulatory & Legislative Roundup
- Mayors across the country flocked to America’s Capitol to give Congress a message, “We need help.” Specifically, the group seems most displeased with health care and tax reform. Many believe the two groups should work more collaboratively and move away from the secret legislation of the Trump Administration.
- Everyone is receiving a payout from Wells Fargo. This week, the Department of Veteran Affairs negotiated a settlement with the troubled bank regarding their interest rate veteran refinancing practices. The bank allegedly collected millions in unauthorized fees on these loans and will settle the issue with a $108 million settlement agreement.
August 8, 2017 | Permalink | No Comments
