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STATE OF AFFAIRS: WEST » Colorado rank: 50 90+ Day Delinquency Rate Foreclosure Rate oCtober 2013 1.4% Unemployment Rate 0.7% 6.8% year ago 1.7% 1.2% 7.7% year-over-year Change -20.0% -44.1% -11.7% Top County Las animas County 90+ Day Delinquency Rate Foreclosure Rate oCtober 2013 2.7% 2.4% year ago 2.6% 2.6% year-over-year Change 6.0% -7.4% Top Core-Based Statistical Area montrose, Co 90+ Day Delinquency Rate Foreclosure Rate oCtober 2013 1.4% 1.6% year ago 2.0% 2.1% year-over-year Change -32.5% -21.4% note: The 90+ day delinquecy rate is the percentage of outstanding mortgage loans that are seriously delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the October 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary October 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of LPS Data & Analytics. IN THE NEWS Company Offers Valuation Software for Free Denver-based EMC2 Data, a developer of regression analysis-based valuation technology, is offering its Resilytics software to mortgage originators, real estate professionals, and appraisers at no cost. The company says its intention is to provide industry professionals ample opportunity to be successful as access to the software will ensure every agent "is able to provide accurate valuations for any home residence in the country." "I have used this technology for a year and can honestly say it has helped me close more deals," said Tom Witzel, a Realtor with RE/ MAX Alliance in Denver. "This tool will help the entire mortgage market because of the level of accuracy it provides on home values. I value this tool because it offers updated information and more importantly, it has the math to back up the values." Resilytics gives users an automated regression analysis with a 95 percent confi- 138 dence level on adjustments. The technology is backed by a $1 million guarantee on the mathematics behind the analysis. "We know that having the right home values makes the difference in a deal closing for Realtors and loans closing for mortgage originators," said Jim Silva, founder of EMC2 Data. "Unlike other regression technology, our application is automated and delivers users up to 250 comparables to substantiate the 95 percent confidence level in our analysis. Resilytics gives Realtors the confidence they need to help their clients price and purchase homes, while giving originators the information they need for underwriting loans." Silva continued, "We are giving this technology away because we are so confident in its ability to truly improve the way the industry approaches valuations. Plus, with the proper technology, no one will be able to cite the valuation as the reason the process is not successful." Home Prices Continue Rising, Sales Steady Home sales continue to seesaw—while volume increased from the previous year, they dipped from the previous month. Following historic seasonal trends, October home sales edged 2.8 percent lower than in September, according to a market report from RE/MAX. Still, the real estate franchisor found sales pushed 2.2 percent higher than in October 2012. "What we're seeing now are predictable seasonal cycles, which is just another sign that the housing recovery is bringing us back to a more normal market," said Margaret Kelly, CEO of RE/MAX. "Home sales are expected to slow down during the holidays and winter months before returning to the next growth cycle in the spring." Nationwide, the market experienced yearover-year increases in both sales and prices for 21 consecutive months in October, RE/MAX reports. The median price of all homes sold in October was $179,950. That's 11.9 percent above prices seen 12 months earlier. Inventories of homes for sale were 12.2 percent lower than the levels in October 2012. For the last 29 months in a row, inventories have declined at a slower rate. The October inventory drop is half of the annual loss seen as recently as June. At the current rate of sales, the number of months required to sell the entire inventory of homes on the market is 4.9, according to RE/MAX. A six-month supply is recognized as a balanced market. For the most part, normal seasonal trends are responsible for slowing month-to-month changes in home sales. Of the 52 metro areas surveyed in October, 35 reported higher sales than in October 2012, with 19 reporting double-digit gains. Among those double-digit performers, New York experienced an annual increase of 32.6 percent; Trenton, New Jersey, saw a 32.5 percent gain; Anchorage, Alaska's sales growth was 24.2 percent; Philadelphia experienced a 18.2 percent gain; in Wilmington, Delaware, sales were up 18.1 percent; and Manchester, New Hampshire, experienced a 17.1 percent increase. In the month of October, homes were on the market for an average of 66 days before selling, one day longer than the average seen in September, but 16 days less than the average seen in October 2012. An average as low as 66 days is the direct result of continued high demand and a reduced inventory of homes for sale, according to RE/MAX. The housing market has been plagued by a low inventory environment, but for seven consecutive months, inventory has declined at a slower rate than during the same month of the previous year. While not yet adding inventory, the situation is improving. In October, there were 5.1 percent fewer homes for sale than in September, and 12.2 percent fewer than in October 2012. At the sales rate in October, the months' supply of inventory was 4.9. MountainView Brings Another Fannie Mae Portfolio to Market MountainView Servicing Group, a Denver-based provider of mortgage servicing rights (MSR) transaction and valuation advisory services, served as the exclusive advisor on a sale of a Fannie Mae portfolio valued at $152 million (unpaid principal balance). The portfolio contained 100 percent fixedrate, first-lien loans with a weighted average interest rate of 3.66 percent (3.90 percent on the 30-year product) and no delinquencies. The average loan size of the offering is $286,682. Most of the mortgages in the portfolio came from California, New Jersey, and Florida, with those states representing 40.8 percent, 33.2 percent, and 14 percent of the offering, respectively. Matt Maurer, managing director at MountainView Servicing Group and lead

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