DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/119281
» strong, standing 36 percent and 6.5 percent above their respective troughs. D.C. has seen prices increase 23 percent from its bottom and homebuilders have a "good degree" of confidence in its recovery, but prices appear to be overvalued. "Housing in the capital looks to be around 30 percent overvalued relative to incomes, suggesting that it may now be due to a period of underperformance, especially if federal spending cuts take the heat out of the local labour market," the report stated. Thus, based on Capital Economics' assessment, the recovery in California, Florida, Idaho, North Dakota, and Utah seems to be sustainable, but concerns remain for the other states. "We think the exceptions are Arizona and Nevada, whose housing markets remain at risk if their economic recovery continues to disappoint. Moreover, D.C's market is at significant risk of overheating if it doesn't slow soon," the report stated. IN THE NEWS California rank: 37 90+ Day Delinquency Rate Foreclosure Rate January 2013 2.96% Unemployment Rate 1.55% 9.8% year ago 3.84% 3.05% 11.0% year-over-year change -22.9% -49.1% -10.9% Top County Sierra CounTy 90+ Day Delinquency Rate Foreclosure Rate January 2013 1.81% 3.02% year ago 2.66% 5.69% year-over-year change -32.1% -46.9% Top Core-Based Statistical area Clearlake, Ca 90+ Day Delinquency Rate Foreclosure Rate January 2013 3.33% 2.79% year ago 4.34% KNOW THIS 5.10% year-over-year change Tourists spent $2.4 billion in Tucson, Arizona in 2012, spurring continued economic improvement in the city, according to Wells Fargo Securities. rank: 21 Foreclosure Rate January 2013 3.96% Unemployment Rate 2.93% 7.2% year ago 4.45% -45.2% 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 January 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary January 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. REO AND Arkansas 90+ Day Delinquency Rate -23.4% 2.07% SHORT SALES SPECIALIST 7.4% year-over-year change -11.0% 41.7% -2.7% Top County ClAy CounTy 90+ Day Delinquency Rate Foreclosure Rate January 2013 5.51% 6.77% year ago 3.62% SOLD 6.31% year-over-year change 52.2% 7.4% Top Core-Based Statistical Area BlyTheville, AR 90+ Day Delinquency Rate Foreclosure Rate January 2013 4.56% 5.64% year ago 6.20% 4.63% year-over-year change -26.4% note: 21.9% 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 January 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary January 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. VISIT US ONLINE @ DSNEWS.COM GARY CARTER 20955 Pathfinder Road, Suite 100 Diamond Bar, CA 91765 d: 909-860-5540, c: 951-315-7327 f: 909-860-8470 mr.sold007@yahoo.com www.garycarterrealtor.com Sabal Announces Banner Quarter to Close Out 2012 Sabal Financial Group closed 2012 with a bang. The financial services firm ended the fourth quarter of last year with a combined UPB of more than $1 billion and nearly $5.5 billion in assets under management. The fourth-quarter transactions included a $670 million loan portfolio acquired from a regional community bank, which consisted of performing and non-performing loans secured by commercial and land-based assets in the Southeast. It also acquired a $114 million loan portfolio from a regional bank, which comprised performing loans that are secured by commercial real estate located in the Southeast region. Sabal acquired three other portfolios—valued at $116 million, $72 million, and $63 million, respectively—during Q 4 2012. "We anticipate demand to remain robust under continued pressure for banks to shed problematic assets," said R. Patterson Jackson, CEO of Sabal Financial Group, in a statement. "Sabal will continue to pursue acquisition opportunities on behalf of its clients in 2013 while concurrently growing our services in lending and bank advisory." Sabal also concentrates a portion of its activity to assisting bankers, investors, and advisors in evaluating and measuring risk in credit portfolio assessments through its Bank Credit Advisory Practice (BCAP). So far, BCAP has completed more than 110 bank credit portfolio assessments since 2010 and has separately evaluated more than 250 loan portfolios. The company also launched a homebuilder lending program and a commercial real estate (CRE) bridge lending platform. Both programs are designed to provide alternatives to loans from traditional institutions. Auction.com Unveils New Research Division Auction.com launched a new research division to provide data and analysis for the residential and commercial real estate sectors. According to a company release, the Auction.com research division is comprised of experienced economists and industry 79