DS News - Digital Archives

VISIT US ONLINE @ DSNEWS.COM IN THE NEWS Home Sales Rise in Connecticut as Median Price Falls A release from the Warren Group last month showed that homes sales in Connecticut rose in May, marking the fifth straight month sales increased year-over-year. According to the group, home sales in the state spiked almost 15 percent in May, with transactions rising to their highest level since August 2011. A total of 2,257 singlefamily homes sold during the month, up from 1,971 in May 2011. Year-to-date (through end of May) sales are up almost 12 percent, the Warren Group reports, with 8,348 homes sold so far this year in Connecticut. "The spring market has been especially strong in Connecticut," said Timothy M. Warren Jr., CEO of the Warren Group. "We're expecting home sales to continue to soar this summer, thanks to low mortgage rates and affordable prices luring buyers into the market." The median home price in the state fell year-over-year, dropping more than 1 percent from $250,000 to $247,000. However, this was still the highest median sale price recorded so far in 2012. Year-to-date, the median sale price of a home in Connecticut is $225,000, 5 percent lower than $237,000 for the same period last year. Condominium sales also increased in May, rising more than 10 percent from 536 in May 2011 to 592 this year. A total of 2,229 condo sale transactions have been recorded year-to-date, a 6 percent increase from 2,098 through May of 2011. The median sale price of a condominium was $167,000 in May, down from $176,950 in May 2011. The year-to-date median price fell to $160,000 from $170,000 for the same period last year, a drop of almost 6 percent. S&P Reaffirms Clayton Holdings LLC Clayton Holdings LLC, a provider of due diligence, underwriting, surveillance, and default servicing to the residential and commercial mortgage and fixed-income industries, recently announced that Standard & Poor's reaffirmed the company as a thirdparty due diligence provider for residential mortgage-backed securities (RMBS) rated by the agency. "We are pleased that S&P has again recognized our due diligence capabilities," explained Paul Bossidy, Clayton's CEO. "S&P's ongoing re-evaluation process sends an important message to the marketplace: Going forward, only the most qualified, independent firms will review the collateral backing non-agency securities." Clayton has been an approved thirdparty provider for S&P since 2009, when the ratings agency first began evaluating due diligence providers under its new criteria. Clayton, headquartered in Shelton, Connecticut, provides information and services that financial institutions, investors, and government entities use to evaluate, acquire, securitize, service, and monitor loans and asset-backed securities. District of Columbia rank: 30 90+ Day Foreclosure Unemployment Delinquency Rate RateRate may 2012 3.38%2.84% 9.3% year ago 3.12%2.76%10.2% percent point change 8.1% 3.2%-8.8% Top County DISTRICT OF COLUMBIA 90+ Day Delinquency Rate Foreclosure Rate may 2012 3.38%2.85% year ago 3.12%2.76% percent point change 8.1%3.2% Top Core-Based Statistical Area WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV 90+ Day Foreclosure Delinquency Rate Rate may 2012 Delaware 3.38%2.85% year ago 3.12%2.76% rank: 22 90+ Day Foreclosure Unemployment Delinquency Rate RateRate may 2012 3.99%3.31% 6.8% year ago 2.96%4.08% 7.3% percent point change 8.1%3.2% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary May 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. percent point change 34.5%-18.9% -6.8% Top County IN THE NEWS KENT COUNTY 90+ Day Delinquency Rate Foreclosure Rate may 2012 5.32%3.88% year ago 3.84%4.64% percent point change 38.6%-16.3% Top Core-Based Statistical Area DOVER, DE 90+ Day Delinquency Rate Foreclosure Rate may 2012 5.32%3.88% year ago 3.84%4.64% percent point change 38.6%-16.3% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the May 2012 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary May 2012 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. STAT INSIGHT 2,956 Properties in Delaware with at least one foreclosure during the first half of 2012. Source: RealtyTrac Stevens to Stay with MBA The Mortgage Bankers Association (MBA) announced early last month that president and CEO David H. Stevens will continue with the organization instead of joining SunTrust Mortgage as previously planned. SunTrust had announced that Stevens would join the company as president a month earlier. Stevens said he changed his mind about the career move after considering the state of the industry. "The past few weeks have been extremely difficult for me personally and professionally. After serious thought and consideration, I simply cannot leave the MBA at such a critical time for the industry and the association," Stevens said. "Frankly, at the end of the day, stepping away right now, when so much progress is being made and so much still left to be done, did not feel right." 81

• Cover