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May 2016 - Walking the Tightrope

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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92 CALIFORNIA CoreLogic to Bring GSE Condo Project Questionnaires into CondoSafe CoreLogic, a global property information, analytics, and data-enabled services provider, announced that its condominium project re- view solution, CondoSafe, will support the new Fannie Mae and Freddie Mac Condominium Project Questionnaires that the GSEs an- nounced on March 29, 2016. CondoSafe helps lenders and mortgage investors determine whether individual condo- minium projects meet eligibility guidelines and also improves the efficiency of condominium project review by delivering the required as- sociation documents. Designed as an industry-wide service, CondoSafe solicits, stores and monitors infor- mation from more than 140,000 condominium associations (COAs) in the U.S., and conducts a questionnaire-driven structured analysis of that information to assist lenders in determin- ing if a condominium project is eligible for GSE and investor lending. In addition to the standardized CondoSafe questionnaire, the GSE Short and Full Form Condominium Project Questionnaires can be requested within CondoSafe, and will be delivered along with the related COA documents that are needed to complete the project review. "In 2015, over five million home sales in the U.S. were in condo projects, representing a 10 percent share of the market. Changes in demo- graphics and housing preferences favor faster growth of multifamily housing, including condos. CoreLogic worked closely with leading lenders, U.S. housing agencies, condominium industry groups and real estate professionals to create an industry-standard condo project review solution that addresses the inherent problems found in condo lending." said Jacquie Doty, VP, Industry Outreach CoreLogic. "We are excited to incorporate the new condo proj- ect questionnaires introduced by the GSEs to help bring consistency to condo project reviews across the industry and reduce lending risk for both originators and investors." WASHINGTON Investors, Here Are the Top Single-Family Housing Markets Rising home prices, home appreciation, favorable affordability, and excellent economic and demographic conditions have set the stage for the top single-family housing markets in the U.S for investors. Using current and forecasted housing fundamentals, Ten-X (formerly Auction.com) reported in its Top Single-Family Housing Markets Report for Spring 2016 released on ursday that among the 50 largest U.S. mar- kets, the top five single-family housing markets in the country are Seattle, Portland, Nashville, Palm Beach County, and Fort Lauderdale. According to Ten-X, Seattle has been at the top of this list for three consecutive reports, while Portland once again claimed the second- place spot. In Florida markets, Fort Lauder- dale went from second to fifth on the list and Palm Beach County moved up to fourth place. Meanwhile, Nashville ranked third and marks its return to the top five for the first time in a year. "We're continuing to see a return to funda- mentals driving the housing market, as cities with above-average population growth and job creation are recovering much more rapidly," said Ten-X EVP Rick Sharga. "e solid tech sector has helped cities like Seattle and Port- land maintain strong economic growth, which in turn has helped fuel the housing market, and the Florida housing market continues its post-recession recovery with South and Central Florida cities experiencing explosive growth." "Despite a few economic headwinds, the U.S. housing market remains on solid ground," said Ten-X Chief Economist Peter Muoio. "ere are still some causes for concern, such as affordability and limited inventory, plus mortgage availability is still tight. But overall home sales should continue to prosper on the strength of fundamentals. Wages have gone up, interest rates are still low, and the labor market is healthy." The number of cumulative bankruptcy filings in California in 2016 through the end of March, tops among states. Illinois was second with 14,411. Source: AACER bankruptcy data reported by Epiq STAT INSIGHT 18,014 Washington's delinquency rate for February, which was well below the national average of 4.4 percent for the month. Washington's non-current inventory percentage for February (3.9 percent) was also well below the national average of 5.7 percent. Source: Black Knight Financial Services STAT INSIGHT 2.7%

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