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29 » VISIT US ONLINE @ DSNEWS.COM SEPTEMBER 14 - 16, 2014 HILTON ANATOLE :: DALLAS, TEXAS FiveStarConference.com :: 214.525.6760 THE FIVE STAR CONFERENCE WOULD LIKE TO THANK HOST OF THE 2014 FIVE STAR CONFERENCE The largest event in all of mortgage servicing, the 11th annual Five Star Conference will showcase more new features and opportunities than ever before, including new and streamlined academics, dozens of all-new networking events, an expansionto the industry's largest Expo Hall, and, of course, our new hosting sponsor, Safeguard Properties. The future of industry events arrives in September. ENGAGE IN THE NEXT DECADE OF THE FIVE STAR. REPORT: DELINQUENCIES DIP, LINES OF CREDIT RISE Home equity loans and lines of credit are on the rise, as delinquencies continue to plummet across the nation, according to recent research from Black Knight Financial Services, formerly Lender Processing Services. Black Knight's data and analytics division released its November Mortgage Monitor Report, which found that total delinquencies are at extremely low levels in every product category. "Looking at the most current mortgage origination data, several points become clear," said Herb Blecher, SVP of Black Knight Financial Services' data and analytics division. "First is that heightened credit standards have resulted in 2013 being the best-performing vintage on record. Even adjusting for some of these changes, such as credit scores and loan- to-values, we are seeing total delinquencies for 2013 loans at extremely low levels across every product category." e total amount of non-current loans sat at 6.45 percent in November, with a month-over- month change in the delinquency rate hovering at 2.63 percent. For some states, the change is a welcome relief. e "sand state" of Florida is no longer the leader of non-current loans; New Jersey has taken that distinction with Mississippi, New York, and Louisiana following in short order. Non-current rates in both New Jersey and New York are now on par with Florida and Nevada, and twice that of either California or Arizona. Colorado, Montana, Arkansas, North Dakota, and South Dakota are among the state with the lowest percentage of non-current loans. Refinance volume also continues to decline as the November data showed that the population of "refinancible" mortgages decreased by about 4 million loans since the end of 2012. Currently, just 5.9 million loans meet broad-based refinance criteria, including loan-to-value ratios of 80 percent or less; credit scores of 720 or higher; current payment status; and interest rates higher than the prevailing interest rate. However, loosening of credit standards, even slightly, could have a significant effect. As an example, Black Knight says lowering the credit score requirement to 700 increases the population of loans eligible for refinancing by almost 17 percent, or an additional 1 million loans. "Although tighter credit requirements, coupled with interest rate increases, have helped drive originations down to their lowest level since 2010, thanks to increasing home prices, we have seen a significant increase in home equity lending," Belcher said. TREASURY RELEASES NOVEMBER MAKING HOME AFFORDABLE REPORT Nearly 23,000 permanent loan modifications were completed under the Home Affordable Modification Program (HAMP) in November, according to a the U.S. Treasury. at brings the total count of active permanent HAMP mods to just more than 922,000. Since the start of the federal program, 1.3 million HAMP mods have been granted permanent status. Of those, 353,073 have been disqualified from the program and 22,874 loans have been paid off. According to Treasury's data, homeowners have reduced their first-lien mortgage payments by a median of approximately $546 each month, or almost 40 percent of their median before-modification payment. Total estimated savings afforded by the government's modification program is $24.2 billion to date, Treasury reports. Officials also touted the government's Second Lien Modification Program (2MP) in the latest report, pointing out that more than 123,000 homeowners have had their second liens modified, saving a median of $153 a month. Nearly 32,000 2MP modifications involved full extinguishment of the lien.

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