DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
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Look at what's coming up in DS News All essential default servicing news affecting you and your business is right at your fingertips. With exclusive articles from industry experts and coverage of the latest trends, updates, and market developments, DS News gives you a powerful insider's edge. We're committed to delivering the content that helps you unlock new opportunities and enhances your bottom line. Check out what we've got in store for the months ahead. November December January Special Series on the industry's top Property Preservation firms Special Series profiling leaders in Asset Management Special Series spotlighting the frontrunners in Property Valuation BONUS DISTRIBUTION: BONUS DISTRIBUTION: BONUS DISTRIBUTION: » National Property Preservation Conference » CMBA Legal Issues Conference » Legal League 100 Servicer Summit Partnering to Preserve the 'Public Mission' Default 2014 Black Book Servicing's Directory of Compliant Future Attorneys » TMBA Southern States Servicing Conference For more information on how you can get involved, email advertising@DSNews.com or call 214.525.6700. » MBA's National Servicing Conference » Realtor's Annual Conference & Expo » ASF 2014 » ACI's Bank and Non-Bank Forum on Mortgage Servicing Compliance LOCATION, EMPLOYMENT HELPING SOME MARKETS SEE FASTER RECOVERY The positive indicators seen in housing markets across the country are not a mirage, but a true recovery, according to RealtyTrac VP Daren Blomquist and a panel of six real estate professionals who spoke during a roundtable discussion broadcast live over the Internet. RealtyTrac ranked 100 markets in terms of recovery and found a smattering of markets from all regions of the country in the top 20. Florida and California markets were notable in both the top 20 and the bottom 20 rankings of recovering markets. Blomquist said the factors defining where a market landed included location and employment. Inland Florida cities tended to rank near the bottom, while coastal cities ranked near the top. Another major factor was judicial status. States that rely on a judicial process to complete foreclosures tend to work through their foreclosure inventory more slowly and, in turn, are making slower strides toward recovery. Real estate professionals also pointed to rising inventory, declining 44 numbers of underwater borrowers, and pentup demand as factors helping their local markets recover. Monty Smith, SVP of strategic initiatives for Realogy NRT, said pent-up demand is a major driver for the recovery across the nation. Employment and consumer confidence have improved enough that some of the demand is translating into home purchases, according to Smith. While some Americans may have to turn to renting in the short-term, Smith says, "homeownership is still a critical part of how Americans think of their lives." "We don't see a change in that," he added. While the recovery is widespread, participants in the roundtable discussion worry the Qualified Mortgage (QM) rule will dampen the recovery. Studies have suggested anywhere from 25 to 43 percent of applicants receiving mortgages today will not qualify for a mortgage under the new rules. The QM rule, as it stands, would be "not a hiccup in the recovery but a massacre," said one participant.