FHFA To Host Sixth HARP Outreach Event in Phoenix June 12

first_img The Best Markets For Residential Property Investors 2 days ago  Print This Post FHFA To Host Sixth HARP Outreach Event in Phoenix June 12 FHFA HARP Home Affordable Refinance Program 2015-06-10 Brian Honea in Daily Dose, Featured, Government, News The Federal Housing Finance Agency (FHFA) will host its first Home Affordable Refinance Program (HARP) outreach event since extending the program until the end of 2016 on Friday, June 12, in Phoenix, Arizona.The Phoenix event will the the sixth HARP outreach event; the previous five were in Newark, Miami, Detroit, Atlanta, and Chicago. The purpose of the Phoenix outreach event will be to encourage more than 10,000 HARP-eligible residents of the area (and more than 18,000 in Arizona altogether) to enroll in the program and save on their mortgage. FHFA estimates there are more than 600,000 HARP-eligible borrowers nationwide.The FHFA stated in its first quarter refinance report that more than 31,000 borrowers nationwide refinanced through HARP in Q1, bringing the total number of borrowers who have refinanced through HARP up to more than 3.3 million since it was introduced in 2009 as part of the Making Home Affordable program.”There are more than 10,000 homeowners in the Phoenix area, and even more statewide who could save, on average, more than $2,400 per year by refinancing through HARP,” FHFA Director Mel Watt said. “Our goal is to join forces with community leaders and other trusted sources so that borrowers who are current on their mortgage, but have little equity in their homes, know they have refinancing options and can still join the 3.3 million Americans who have saved money by refinancing through HARP.”Megan Moore, a special adviser to Watt, will moderate a panel discussion at the Phoenix event. Representatives from the Department of Treasury, Fannie Mae, Freddie Mac, and the Arizona Department of Housing will be on the panel.Borrowers are eligible for a HARP loan if they meet the following requirements: Their loan must be owned or guaranteed by Fannie Mae or Freddie Mac; the loan must have been originated on or before May 31, 2009; LTV ratio must be greater than 80 percent; and they borrower must be current on mortgage payments. They must not have had a late payment in the previous six months or more than one late payment in the previous 12 months. Borrowers who could benefit from HARP are referred to as “in the money” borrowers; they are “in the money” if they meet all the HARP eligibility requirements, have a remaining balance on their loan of greater than $50,000 with more than 10 years left on their term, and have an interest rate of more than 1.5 percent more than current market rates.The FHFA said borrowers will typically benefit financially from HARP if they meet the aforementioned criteria and have a remaining balance of more than $50,000 on their mortgage, have more than 10 years left on their term, and have an interest rate of at least 1.5 percent higher than the current market rates. FHFA estimates borrowers can save an average of about $200 per month on their mortgage payments with a HARP refinance.Click here to see a map of the U.S. that shows the number of HARP-eligible borrowers. Tagged with: FHFA HARP Home Affordable Refinance Program Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Previous: Four Metro Areas Account For 10 Percent of Nation’s Completed Foreclosures Next: Ocwen To Use Money From MSR Sales to Pay Part of Senior Secured Term Loan Demand Propels Home Prices Upward 2 days ago About Author: Brian Honea Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Home / Daily Dose / FHFA To Host Sixth HARP Outreach Event in Phoenix June 12 Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago June 10, 2015 1,064 Views Share Save Sign up for DS News Daily Subscribelast_img read more

Limitless Possibilities

first_img Technology 2017-06-14 Staff Writer in Daily Dose, Featured, Headlines, News, Print Features Servicers Navigate the Post-Pandemic World 2 days ago Previous: FOMC: Economy Strong Enough to Raise Interest Rates Next: Tight Inventory Drives Apartment Demand Sky-high  Print This Post Subscribe Technology has made the mortgage industry faster, more affordable, more compliant, and more convenient—and it’s not done yet. The industry’s top players weigh in on the power of technology, how to harness it, and where it’s headed.A Path to StabilizationBy Jason Allnutt, Auction.comIncreasingly, financial institutions are recognizing how distressed properties sold in the open market create greater competition among buyers and yield a greater net return, helping communities become more stable and home values increase. By utilizing online marketplaces, banks can see these results sooner, adding additional benefit for themselves, buyers, and neighborhoods within their local communities. The REO industry has taken steps to mitigate the impact of distressed homes, and while initiatives like requiring Plexiglas (instead of plywood) over the windows of vacant properties does have a positive impact, the only meaningful way to make an asset valuable again is to convert it back into a stabilized property. Distressed homes—no matter the cosmetic fix—can become havens for crime. More important for a financial institution is the associated reputational impact of evicting an occupied property within the very communities it serves.To mitigate this reputational risk and more quickly (and profitably) convert distressed assets into stabilized properties, financial institutions are leveraging online marketplaces as an alternative disposition strategy. Much like the Multiple Listing Service, which enables real estate brokers to readily view each other’s homes for sale, online auction platforms provide millions of investors the opportunity to purchase properties efficiently. By design, this eliminates the need to wait for weeks for a property to make its way through the traditional REO process, instead facilitating a change in ownership—and a path to stabilization—within days of foreclosure. Banks looking to leverage this option should first ensure that the marketplace provides the most expansive reach to allow the asset to obtain the maximum exposure possible. Also, well-equipped marketplaces can match properties with buyers using data integrations that provide a well-rounded view of the property and its history. Online marketplaces operate within the new paradigm created by the digital age and, as such, facilitate the marketing and sale of these properties much sooner. This, in turn, optimizes the sales process, mitigates risk exposure for the bank, and reduces costs for both sellers and buyers. More importantly, it provides a methodology to combat blight within America’s neighborhoods in a way that protects the financial and reputational interests of the bank. Jason Allnutt is the Chief Business Officer and General Manager of Auction.com, an online real estate transaction marketplace focused on bank-owned and foreclosure properties. Using his more than 20 years of industry experience, Allnutt oversees the company’s business development, operations, marketing, and product strategy.It’s All About FlexibilityBy Rob Pajon, RES.NET Today’s tech trends change so quickly that it is easy to get overwhelmed. In real estate, we hear things about intriguing new applications like drone photography and 3D tours, but a discerning organization needs to remain cautious and vet out technology prospects to avoid fleeting trends. On the other hand, you can’t afford to be left behind, especially when it comes to increasingly particular consumers. This can be a fine line to walk for any business, let alone one in an established industry like real estate.It doesn’t matter if you’re an investor buying a large portfolio or a servicer working exclusively with GSEs, at the end of the day we all must cater to the expectations of consumers. People have quickly become used to the idea of doing everything online. In this world, everything happens in real time with clear communication that elicits trust in parties who have never met. This trust is key. As an industry, we must provide the same level of transparency and trust to our customers that they experience throughout the rest of their online lives. The good news is that ramping up technology will do much more than just meet consumer expectations. Technology will allow us to run more-efficient operations, increase outputs, and deliver faster, more reliable results, all with less labor. Technology is also the answer to the increased government oversight many are already experiencing. When all it takes is a small handful of errors to enact huge fines, no one can afford to overlook this crucial piece of the puzzle. By utilizing current technology offerings, businesses will lower day-to-day costs, while also avoiding major compliance issues. This alone should be enough reason to get the industry up to speed.  A constantly evolving state of technology is now the new normal. It is not enough to simply catch up to current trends, for they will have shifted by the time you have. At the same time, you cannot create internal chaos by changing the way your organization does business overnight. So where do we go from here? We evolve. Constantly. Like your smartphone that constantly gets upgraded, housing technology must be built to meet the needs of today, while maintaining the flexibility to change with the times.Rob Pajon is SVP of Marketing and Product Development at USRES and RES.NET, which virtually connects servicers, agents, vendors, and consumers throughout real estate transactions. For more than a decade, he has overseen the organization’s overall marketing and product initiatives. Survival of the Tech-FittestBy Martin Morzynski, HouseCanaryWe are witnessing the birth of a multi–trillion-dollar asset class. Single-family real estate equity is connecting with institutional capital at scale for the first time in history. Operators in the SFR and fix-and-flip industries are buying homes at a rapid pace, enabled by recent innovations in data science.As recently as five years ago, the largest private equity-backed SFR operators drew gasps from investors when they proclaimed their portfolio goal was to reach 3,000-plus assets. Now, these same players have assembled portfolios of 50,000-plus homes and taken their firms public.In an industry where it takes the average consumer 30 to 60 days to select a home for purchase and then another 30 to 60 days to close the transaction, how can these institutions buy hundreds of homes per day without making costly mistakes? Investors need to identify assets that fit their acquisition strategy, submit bids, and manage their financial plumbing quickly and accurately. “As SFR consolidates, only the owner-operators and flippers who embrace best-of-breed technology will survive and thrive as more capital competes for fewer opportunities. As yields shrink at the MSA level, investors will need granular data to achieve their goals,” says colleague Mike Greene, Head of Capital Markets. Thousands of data elements influence the value of a home, interacting in ways beyond the power of spreadsheets. Now, the industry has the tools to analyze them all fully.The early cycle winners are already using big data to their advantage. The good news for the next group of investors—those with 50, 100, 500, or 2,000 homes who are trying to get to the next level—is that predictive forecasts, accurate rent estimates, and purpose-built lead generation solutions are increasingly ubiquitous and affordable. Arm yourselves and stay current—as markets get more choppy, the tools are here to help!Martin Morzynski is the Chief Marketing Officer for HouseCanary, which provides mobile, web and API products for real estate investors, lenders, appraisers, and realtors. With 15 years of experience in building global brands and advising tech start-ups, Morzynski leads the company’s brand, digital acquisition, and demand generation efforts.Investing in TechBy Dennis Cisterna III, Investability Real Estate In today’s rapidly evolving digital age, the business of real estate investing has largely been known as a more “traditional” industry. Despite not being at the forefront of the tech revolution, there are noteworthy new developments in the sector with important implications for real estate investors. From data to virtual reality to new building materials, technological advancements are shaping the future of the industry.Big Data. While the rise of “big data” has affected many industries, the benefit to real estate is a combination of two things: Real estate data sets have grown larger over time, and access to cloud storage and strengthening computing power have sped up the processing of information.Together, these factors mean that we’re now able to analyze more data faster and improve insights, which helps support better-informed real estate investment decisions. With the ability to analyze larger data sets, it becomes important to differentiate the signals from the noise to figure out which variables are most likely to mitigate risk and help predict real estate investment outcomes. Automation. A significant landlord limitation has to do with the day-to-day management of investment properties. Between leasing, rent collection, and maintenance and repairs, one of the most onerous burdens of being a landlord is the time it takes to address these operations. In response, some new, automated solutions have come online in recent years to address these challenges, simplifying the property management process.Virtual Reality. Historically, one of the biggest hindrances to investors purchasing outside of their local markets was the inability to see the property or neighborhood in person. There’s a certain level of trust and comfort that comes from seeing something with our own eyes. Thankfully, advancements in virtual reality are making it easier than ever before to transcend geographic boundaries. Tools like Google Street View and PlanOmatic now allow real estate investors to virtually wander neighborhoods and even see inside properties without ever leaving their computer screens. Drones. More than just a cool toy, drones are quickly becoming an essential tool across many industries, including real estate. Some companies are taking the technology to the next level to perform detailed property inspections and overcome height and space limitations to provide a safer, more-efficient solution. High-resolution, high-definition recordings can even include multispectral thermal imaging to detect leaks and mold issues and can often be completed faster and at a lower cost than traditional methods. Building Materials. While we don’t often consider technology as it relates to building materials, scientists are making headway in the development of more efficient, longer-lasting materials that may reduce annual operating and maintenance costs. One such example is the development of self-healing concrete by Henk Jonkers, a microbiologist at Delft University of Technology in the Netherlands. Typically, all concrete eventually cracks, but by mixing standard concrete with a type of bacteria, Jonkers has devised a way to extend the life of the product. The bacteria, which serves as the healing agent and remains intact during mixing, only dissolves and activates if the concrete cracks and water gets in. Therefore, when cracks eventually begin to form in the concrete, water enters and activates the bacteria capsules which feed on a compound to produce limestone and eventually fill the cracks. That means that once the product comes to market, it may be a long time before you’ll need to patch up that driveway or patio again. These advancements are just the tip of the iceberg as the real estate industry continues to evolve, making it easier than ever before to be a successful investor in the space.Dennis Cisterna III is the Chief Revenue Officer for Investability Real Estate, Inc., an online real estate marketplace for single-family residential properties. He hosts a weekly investment-focused podcast called “The Real Investor.”The Marriage of Mobile and Mortgage By Dominic Iannitti, DocMagicRight now, many lenders look at mobile technology as a “bells-and-whistles” feature, when it is actually a key component of an efficient electronic mortgage. Electronic mortgages are the future of our industry; technology is only becoming more portable, and mobile technology is here to stay. Our industry needs to understand that and focus on marrying mobile capabilities with the digital mortgage process. That’s where we’re headed.Let’s look at where we are today. Most lenders and their vendors have responsive websites. Many have mobile apps for borrowers. That’s great. The issue is, most mobile solutions and online accessibility options address only a single need. We need mobile technologies that function more holistically. To transition to 100-percent, fully electronic mortgages, lenders first need to realize that most homebuyers use mobile devices to conduct both personal and professional business.  There are a few technology leaders in the mortgage industry that have introduced mobile technology designed to facilitate a digital mortgage process. These technologies not only enhance the borrower experience but also protect lenders against noncompliance, delays, unnecessary costs, and lost opportunities. Mobile apps can bring the borrower into the digital mortgage process. LOS integrations eliminate communication mishaps like errors, redundancy, and other potential compliance disasters, and apps themselves can fulfill several functions—from communicating, satisfying loan conditions, and uploading/sharing documents to electronically delivering and eSigning disclosures. In the end, the future of mortgage lending isn’t about jumping from application to application, but rather, using as few applications as possible to get a more seamless, connected, and secure experience. It’s exciting to see the progress that we’re making and the advances that are on the horizon. Thanks to the progress the industry’s leading technologists have made together, more borrowers can enjoy the benefits of electronic mortgages, like simplicity, speed, security, and an enhanced loan experience, while lenders gain a competitive edge and improve their bottom lines.Dominic Iannitti is President and CEO of DocMagic, Inc., which offers fully compliant loan document preparation, compliance, and eSign and eDelivery solutions for mortgage lenders. Iannitti founded the company in 1988.How to Handle the Upward Trending Default Rate After Years of DeclinesBy Cindy Walton, ISGN CorporationHome equity, ARMs, or step-rate modifications all have a higher risk of default when interest rates rise. With the Federal Reserve raising their rates twice over the last six months and the trending increase in mortgage defaults, it is important to evaluate how to handle the influx of defaulted loans after the past decade of downward staffing. Even the slight increase, as seen over the past few months, about 1 basis point per month (according to S&P/Experian First Mortgage Default Index), can affect the workload required of each default servicing representative. Additionally, if servicers use different systems to manage first and second mortgages, the increase in second mortgage defaults will bring about additional risk and increased need for oversight on liquidation practices to hedge the risk of financial loss. Since servicers today are staffed at a minimum to cut down on cost, a slight increase in default would add to the current workload and could be detrimental to the servicer and increase the required oversight that is needed to handle defaulted loans. This concern can be addressed with technology. The slight increase doesn’t necessarily justify the cost of adding additional staff but can be managed with an effective default management solution.According to Margaret Dewar’s ‘2013 Emery Law Journal Entry “Regulation X: A New Direction for the Regulation of Mortgage Servicers’,” the mortgage loan origination practices in the early 2000s were the beginning of what the mortgage industry refers to as the financial crisis of 2007. Poor servicing practices and procedures led to unnecessary foreclosures and a heightened financial burden on servicers, investors, and borrowers alike. While there have always been federal, state, and other guidelines that a servicer had to follow, there are now regulatory guidelines, mortgage insurer guidelines, and government entity guidelines. All these regulations have been put into place to control the lack of oversight and poor practices. The adaption of the new requirements are burdensome on the servicers and can be costly due to procedural inefficiencies and lack of technology features.  On top of having to deal with laws and regulations, servicers are also responsible for the multiple aspects of the actual default process. For example, a borrower could be trying to short sell their property, plus one or more of those borrowers could have filed bankruptcy, and the loan could be at a threshold of too many days delinquent which means that the servicer could have been moving forward with a foreclosure filing.  Anything that occurs (or sometimes does not occur) on a mortgage or property will cause the servicer to have to deviate from a “normal” default process. This branching of the processes off into many different directions can mean multiple types of handoffs. With each handoff, there is a risk of incorrect processing, untimely turnaround, or quality of data issues.  Everchanging regulations can lead to unwanted and unnecessary costs. A complete servicing system platform which includes default management can manage the unpredictable paths a defaulted loan can take as well as track first and second mortgages within one system, among other efficiencies. It can also mitigate the risk of adding extra burden onto your existing staff, or help avoid having to hire and train additional staff just to manage the increased volume. A servicing/default platform that can service both first and second mortgages will not only allow a servicer to become more efficient but it will also allow for increase quality of servicing on a defaulted loan and help avoid potential write-off scenarios.  Cindy Walton is ISGN’s Vice President of Client Relations. She manages major customer account relationships for ISGN, provider of core and complete default solution including default technology management platform, Tempo, integrated with Loan Dynamix Servicing Software. Walton has more than 19 years of experience in all aspects of mortgage servicing and asset management and has a proven track record of creating strategies and processes that enhance operational productivity and quality.How Can You Be Compliant With So Many Regulations At Every Level?Jane Mason, ClarifireRegTech is a buzzword that over the last couple of years has found its place as a mainstay in the financial services industry. What exactly is RegTech, and how does it differ from FinTech? The answer is simple. RegTech is short for regulatory technology and is a subset of FinTech that has risen out of the global complexity of regulation and its impact on financial services. RegTech firms are emerging in an effort to move the industry away from ‘big data’ towards ‘smart data’ by utilizing robotic process automation and machine learning, along with regulatory repositories. These firms are tapping the data captured to meet regulatory requirements and using it in a way that is more meaningful to the banks, investment banks, and mortgage companies that are producing the data to regulate risk. How will RegTech modernize compliance going forward?The FinTech label, which is more widely known, is often applied to RegTech initiatives that are clearly addressing regulatory requirements and corresponding data in ways that impact the financial services industry. Using RegTech to manage compliance needs will be the clear pathway to gaining competitive strength in the near term, diminishing growing resource constraints and costs resulting from engorged compliance requirements. RegTech will create organizations that are ready to handle the future of FinTech, navigate regulatory change, and surmount the complexities surrounding the regulatory landscape. Leveraging innovative technologies will naturally bring down costs and exposure to process failures.What infrastructure is needed to begin adopting RegTech? Organizations need operational workflow. There are solutions available that plug into regulatory rules engines and transform the output into compliant workflow. Interactive processes and a business rules engine drives control, governance, and risk mitigation. The infrastructure required for SaaS solutions like this is minimal. All clients need is access to the internet.Is RegTech for every financial institution?Large or small, every organization can benefit from RegTech. A full enterprise license for a large RegTech repository may not be necessary for every organization, but a hybrid approach with a workflow automation solution focusing on operational efficiencies while driving compliance is an affordable option for smaller organizations.What successes are organizations experiencing with RegTech?Companies have seen elimination of fines, reduced cycle times, and increased visibility across their organizations. The successes come from a blending of tapping into regulatory solutions and transforming workflows based on outputs. This provides the quality control governance and human interaction needed at the exception management levels.What challenges are organizations facing using RegTech?In the industry, we’re seeing where some purely RegTech solutions may bring great products. They have the rules, logic and output, but nothing for organizations to execute changes with. This brings me back to an earlier point that organizations need operational workflow. They can incorporate RegTech into that functionality. If an organization already has a RegTech solution, we recommend taking the trends and exceptions and building processes that eliminate those that have a negative impact on the business.How will RegTech emerge, mature, and change moving forward?We strongly feel that the trend will remain moving toward a focus on creating operational efficiencies through technology transformation and within that transformation will be RegTech, but RegTech will not be the only focus. RegTech and FinTech companies will need to keep an eye on financial services’ big picture, with the customer front and center. The trend will be a FinTech-RegTech hybrid with a focus on the consumer at the forefront. More companies will be looking for an end-to-end solution instead of having to manage disparate systems. The result will be more strategic partnerships, mergers, and acquisitions amongst technology providers.  As financial services providers innovate, regulators will be doing the same. In three to five years we expect to see the industry as a whole (financial institutions, technology providers, and regulators) working together and not against each other to achieve compliance and efficiencies. What’s next?According to Computer Weekly, “2016 may have been the year when you heard about RegTech, but 2017 is going to be the year when you’ll understand that your business can’t run successfully without it.”  As technology becomes more accessible, sophisticated, and affordable, more financial services firms are likely to adopt RegTech coupled with workflow automation solutions. Will your organization be the next?Jane Mason is founder and CEO of Clarifire. She has applied her vast experience (over 25 years) operating process-driven businesses to successfully redefine client-focused service. She has worked with expert programmers to apply cutting-edge web-based technology to automate complex processes in industries such as financial services, healthcare, and enterprise workflow. Her vision confirms Clarifire’s trajectory as a successful, scaling, Software-as-a-Service (SaaS) provider. The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago June 14, 2017 1,643 Views Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Home / Daily Dose / Limitless Possibilities Demand Propels Home Prices Upward 2 days ago Related Articles About Author: Staff Writer Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: Technology The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Limitless Possibilities Share Savelast_img read more

Promising Outlook for Banks after Fed Stress Test Announcement

first_img Demand Propels Home Prices Upward 2 days ago CCAR Fed Federal Reserve Stress Test 2017-06-28 Joey Pizzolato Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Promising Outlook for Banks after Fed Stress Test Announcement The Federal Reserve announced the results of its Comprehensive Capital Analysis and Review, or Stress Test, on Wednesday. Thirty-four bank holding companies took part in the stress test, which is now in its 7th year. The Stress test operates in two parts: the quantitative, and the qualitative, according to an official statement by the Fed. “When considering a firm’s capital plan, the Federal Reserve considers both quantitative and qualitative factors. Quantitative factors include a firm’s projected capital ratios under a hypothetical scenario of severe economic and financial market stress. Qualitative factors include the strength of the firm’s capital planning process, which incorporate risk management, internal controls, and governance practices that support the process.”Out of the 34 banks, 13 were subject to both the quantitative and the qualitative portion of the test, while the remaining 21 were rated only on quantitative factors. Out of the total test group, the Fed did not object to a single banks’ capital plan. One bank, however—Capital One Financial Corporation—will be required to resubmit its capital plan by the end of 2017, although they were still given a pass. The Fed found that U.S. firms’ common equity capital ratio has more than double, rising to 12.5 percent at the end of Q1 2017 from 5.5 percent in Q1 2009, a total increase of $750 billion to $1.25 trillion. As a result, most major banks, including Wells Fargo, Bank of America, SunTrust Banks, JPMorgan, American Express, and Discover Financial Services are raising their dividends. CitiBank doubled its dividends. After hours trading barely slowed down once the market closed—Fifth Third Bancorp showed a 3.10 percent increase, while SunTrust boasted a 2.51 percent increase and Discover’s percent change was at 2.38 percent. Read below to find a complete list of the banks that participated in the stress test:Ally Financial, Inc.; American Express Company; BancWest Corporation; Bank of America Corporation; The Bank of New York Mellon Corporation; BB&T Corporation; BBVA Compass Bancshares, Inc.; BMO Financial Corp.; Capital One Financial Corporation; CIT Group Inc.; Citigroup, Inc.; Citizens Financial Group; Comerica Incorporated; Deutsche Bank Trust Corporation; Discover Financial Services; Fifth Third Bancorp; Goldman Sachs Group, Inc.; HSBC North America Holdings, Inc.; Huntington Bancshares, Inc.; JP Morgan Chase & Co.; Keycorp; M&T Bank Corporation; Morgan Stanley; MUFG Americas Holdings Corporation; Northern Trust Corp.; The PNC Financial Services Group, Inc.; Regions Financial Corporation; Santander Holdings USA, Inc.; State Street Corporation; SunTrust Banks, Inc.; TD Group US Holdings LLC; U.S. Bancorp; Wells Fargo & Company; and Zions Bancorporation. Tagged with: CCAR Fed Federal Reserve Stress Test Joey Pizzolato is the Online Editor of DS News and MReport. He is a graduate of Spalding University, where he holds a holds an MFA in Writing as well as DePaul University, where he received a B.A. in English. His fiction and nonfiction have been published in a variety of print and online journals and magazines. To contact Pizzolato, email [email protected] The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago About Author: Joey Pizzolato Previous: The Psychology Behind Why People Buy, And Where Next: Mortgage Applications Down, Shares Mostly Unchanged  Print This Post Servicers Navigate the Post-Pandemic World 2 days agocenter_img in Daily Dose, Featured, Government, Headlines, News June 28, 2017 1,506 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Promising Outlook for Banks after Fed Stress Test Announcement Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

These Are Your 10 Best SFR Investment Markets

first_img HomeUnion rental investments SFR Market Single-Family Rental Market 2017-12-06 David Wharton The Week Ahead: Nearing the Forbearance Exit 2 days ago These Are Your 10 Best SFR Investment Markets Home / Daily Dose / These Are Your 10 Best SFR Investment Markets December 6, 2017 6,019 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: David Wharton Sign up for DS News Daily Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Tagged with: HomeUnion rental investments SFR Market Single-Family Rental Market  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days agocenter_img David Wharton, Managing Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has over 16 years’ experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. Wharton and his family currently reside in Arlington, Texas. He can be reached at [email protected] Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago Which housing markets are the hottest amongst single-family rental investors? Online real estate investment and management firm HomeUnion pored over two years of sales data to answer that very question, compiling a list of the top 10 most sought-after housing markets of 2017. Topping the charts: Chicago, Illinois.In HomeUnion’s report, Steve Hovland, Director of Research for HomeUnion, explained, “To remain ahead of the market and meet investor demand, we analyzed investor migration patterns and preferences since the beginning of 2016.” The result is a list that shows reveals a single-family rental investment boom occurring in the Midwest, with cities like Columbus, Detroit, Cincinnati, and Philadelphia all making the top 10 as well.Holvand continued, “Rental properties in these metros are trading at a faster rate than before as their local economies continue to grow, the cost of living is lower than it is in most coastal metros, and median local incomes are keeping pace with home values.”Here is HomeUnion’s full list of the top 10 most sought-after real estate investment markets. Each entry also includes the percentage increase in investment home sales between 2016 and 2017 for that metro, as defined as “single-family homes that transacted above $30,000 and with absentee tax records.”Chicago, Illinois: 30.4 percentColumbus, Ohio: 18.1 percentAtlanta, Georgia: 6.9 percentDetroit, Michigan: 2.6 percentNew York, New York: 2.5 percentCincinnati, Ohio: 2.1 percentPhiladelphia, Pennsylvania: 1.6 percentOrange County, California: 1.5 percentIndianapolis, Indiana: 1.3 percentMilwaukee, Michigan: 1.0 percentOn the other end of the spectrum, a trio of Florida metros landed at the bottom of HomeUnion’s list. Hovland explained, “Higher prices are pushing some vacation home buyers to the sidelines in many popular Florida markets. Investors are also becoming more selective when choosing assets in these booming Florida markets.”Here are the 10 least sought-after rental markets, along with their 2016-2017 decrease in investment home sales:Tampa, Florida: -6.4 percentJacksonville, Florida: -6.0 percentFort Lauderdale, Florida: -4.5 percentBaltimore, Maryland: -4.1 percentMiami, Florida: -4.1 percentWashington, D.C.: -3.9 percentBoston, Massachusetts: -3.2 percentBuffalo, New York: -2.7 percentOrlando, Florida: -2.7 percentSalt Lake City, Utah: -1.9 percentWith the rents rising and lease retention rates on single-borrower, single-family rental securitizations climbing to 76.3 percent in September 2017, the rental market looks to have a lot of potential in 2018. Assuming, that is, that you know where to invest. For more insights on the future of the rental market, make sure to register for the 2018 Five Star Single-Family Rental Summit, happening March 19-21, 2018, at the Renaissance Nashville Hotel in Nashville, Tennessee. Click here to register. Share Save Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Breaking Down Non-Performing Loan Sales Next: U.S. Homeowners’ Trillion-Dollar Quarter Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Journal, Market Studies, News Subscribelast_img read more

Freddie Mac Marks Single-Family Rental Milestone

first_img in Daily Dose, Featured, Government, Journal, News Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago January 12, 2018 1,975 Views About Author: David Wharton Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Tagged with: Berkadia Freddie Mac freddie mac multifamily Single-Family Rentals TrueLane Homes Freddie Mac Marks Single-Family Rental Milestone Berkadia Freddie Mac freddie mac multifamily Single-Family Rentals TrueLane Homes 2018-01-12 David Wharton Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Related Articles Home / Daily Dose / Freddie Mac Marks Single-Family Rental Milestone The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Freddie Mac officially entered the single-family rental space this week as Berkadia announced the closing of the very first affordable single-family rental financing through Freddie Mac Multifamily for TrueLane Homes, a leading owner of single-family rental homes.The financing totalled $11,092,000 for a 10-year, fixed-rate loan secured by 195 homes and a duplex. The homes were located in nine different metros and six different states. The financing also stands out due to the fact that all of the units are affordable for families earning at or below 100 percent of the median income. For families earning at or below 80 percent of the median income, that affordability percentage is still over 90 percent.Anthony Cinquini, Managing Director at Berkadia, said, “The single-family rental space has a gap in liquidity and affordability, which Freddie Mac is well-positioned to fill as evidenced by this transaction. We’ve been working closely with our partners at Freddie Mac to devise a lending platform that applies the discipline of our multifamily lending standards to single-family home rentals. This includes detailed and thorough underwriting of the borrowers and homes at origination and throughout the term of the loan, which promotes the long-term sustainability of the rental homes.”The single-family rental market is poised for growth going forward, with a Harvard University study reporting that 53 percent of households earning less than $35,000 rent their housing, and that that number increases to over 60 percent for households earning less than $15,000. According to that same Harvard study, single-family homes now account for 39 percent of the nationwide rental stock. However, the continued lack of affordable housing on both the purchase and rental sides of the equation is creating opportunities for the savvy investor.David Leopold, VP Targeted Affordable Sales & Investments at Freddie Mac Multifamily, said, “We’ve said from the beginning that the goal of our single-family rental pilot is to increase the availability of affordable rental housing in communities across the country, and this transaction does exactly that. All of the homes in this transaction will remain affordable for working families, with over 90 percent affordable for low- and very-low income families.”Berkadia was the first Freddie Mac seller or servicer to obtain the National Single Family Rental Designation from Freddie Mac Multifamily. The designation allows Berkadia to sell and service loans secured by single-family rental properties nationwide to Freddie Mac. This is the first such transaction.“We support the local community by investing capital to rehabilitate affordable single-family rental homes in working-class markets,” said Alan True, Founder and CEO of TrueLane Homes. “The deep knowledge of affordable housing at Freddie Mac and Berkadia and their mission to encourage borrowers like us to continue to provide housing to working-class individuals will impact the industry for years to come.”Investors interested in the single-family rental market should take note of Five Star’s 2018 Single-Family Rental Summit, set to unfold March 19-21, 2018, at the Renaissance Nashville Hotel in Nashville, Tennessee. The three-day Summit will feature top subject matter experts and skilled SFR practitioners leading discussion panels and training sessions related to property acquisition and management, financing, strategies for small, mid-cap, and large investors, and new developments related to technology and professional services. You can find more information by clicking here.  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Previous: What’s the Price? More Than We Ask, Say Homesellers Next: Experian: Credit Outlook Bright for 2018 Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

The Cities at Minimum Risk From a Housing Downturn

first_imgSubscribe Previous: What is Driving Housing Sentiment? Next: Homeowners are Neglecting Flood Insurance Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. September 9, 2019 2,048 Views Servicers Navigate the Post-Pandemic World 2 days ago About Author: Radhika Ojha Share 1Save Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago The Cities at Minimum Risk From a Housing Downturn Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Tagged with: Home Prices Home Sales Homes HOUSING Inventory Redfin Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Cities at Minimum Risk From a Housing Downturn Three northeastern cities—Rochester, Buffalo, and Hartford—are at least risk of a housing downturn in case of a recession. According to a Redfin study, some markets are at a greater risk of negative impacts from a recession than others. To determine the cities that would be most- and least-impacted because of a recession, Redfin looked at several factors. They included:Median home sale price-to-household income ratioThe average loan-to-value ratio of homes sold in 2018Home price volatilityShare of homes that are sold twice within 12 months for a different priceDiversity of local employmentShare of the local economy dependent on exportsShare of local households headed by someone age 65 or olderThe study found that not a single city “West of the Mississippi” was in the least risk category.With an overall score of 72.8%, the study revealed, Riverside, California posed the highest risk of a downturn among the 50 cities analyzed by Redfin. Riverside was followed by Phoenix (69.8%) and Miami (69.5%). The lowest score in the West was Denver, with an overall risk score of 41.5%. The only metro on the West Coast with a risk score below 50% was San Francisco at 42.9%. Redfin said that the Golden Gate City’s housing market had already begun “to slow earlier this year and therefore has less risk of a price downturn when the next recession hits.”On the other hand, the study found that the areas with the least risk are heavily clustered in the Northeast and Midwest regions. In fact, with a score of 30.4%, Rochester, New York faced the least risk from a recession followed by Buffalo, New York (31.9%), and Hartford, Connecticut (33.9%).So why did these regions face a lesser risk from the downturn compared to the West?According to Redfin, a number of factors such as “more affordable home prices, less investor activity, and local economies that are less prone to volatile boom-bust swings,” were responsible for the low risk in these regions.Click here to read the full study. Demand Propels Home Prices Upward 2 days ago  Print This Post Home Prices Home Sales Homes HOUSING Inventory Redfin 2019-09-09 Radhika Ojha The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily last_img read more

Where the Biggest Changes in Affordability Occurred

first_img Home prices decreased 1.3% between July 2019 and August 2019, according to the latest First American Real House Price Index (RHPI), while year over year, real house prices declined 5.9%. Meanwhile, the S&P CoreLogic Case-Shiller Indices revealed that the biggest year over year gains in home prices were in Phoenix, Charlotte, and Tampa.Phoenix led the way with a 6.3% year-over-year price increase, followed by Charlotte with a 4.5% increase and Tampa with a 4.3% increase. Seven of the 20 cities reported greater price increases in the year ending August 2019 versus the year ending July 2019.“The U.S. National Home Price NSA Index trend remained intact with a year-over-year price change of 3.2%” says Philip Murphy, Managing Director and Global Head of Index Governance at S&P Dow Jones Indices. “However, a shift in regional leadership may be underway beneath the headline national index.”According to First American, unadjusted house prices are now 8.3% above the housing boom peak in 2006, real, house-buying power-adjusted house prices remain 42.0 percent below their 2006 housing boom peak. “Understanding the dynamics that influence consumer house-buying power, how much home one can buy based on changes in income and interest rates, provides a helpful perspective on the housing market. When incomes rise, consumer house-buying power increases. When mortgage rates or nominal house prices rise, consumer house-buying power declines,” said Mark Fleming, Chief Economist at First American. “Our RHPI uses consumer house-buying power to adjust nominal house prices, offering insight into affordability.Fleming goes on to discuss how the latest RHPI reflects affordability.“For example, according to our RHPI, real house prices decreased nearly 6% year over year in August, marking a significant gain in affordability. Since August 2018, mortgage rates decreased 0.93-percentage points and household income grew by 2.6%–both improving house-buying power and affordability,” Fleming continued. “However, rising nominal house prices reduce affordability, and nominal house price appreciation grew by 8.0% compared with one year ago. Ultimately, this continual ‘tug-of-war’ between house-buying power and nominal house prices determines the fate of real house prices.”  The Best Markets For Residential Property Investors 2 days ago Where the Biggest Changes in Affordability Occurred Previous: House Meeting to Discuss LGBTQ Housing Discrimination ‘Long Overdue’ Next: Where Homeowners Are ‘Overstretched’ About Author: Seth Welborn Share Save Home / Daily Dose / Where the Biggest Changes in Affordability Occurred Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Demand Propels Home Prices Upward 2 days ago Affordability Home Prices House Buying Power 2019-10-29 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribecenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Market Studies, News Tagged with: Affordability Home Prices House Buying Power Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago October 29, 2019 1,173 Views Sign up for DS News Daily Demand Propels Home Prices Upward 2 days agolast_img read more

Advancing Fair Housing, Racial Equity Through Federal Policy

first_img Servicers Navigate the Post-Pandemic World 2 days ago Previous: Layton: GSE Scorecard Brings Little Value to the Public Next: HUD Secretary: Annual Homelessness Assessment Results Are ‘Startling’ Advancing Fair Housing, Racial Equity Through Federal Policy Sign up for DS News Daily March 18, 2021 1,115 Views Related Articles Eileen Kornmeyer is the Director of the American Mortgage Diversity Council and the Property Preservation Executive Forum, both of which are part of the Five Star Institute. Her most recent tenure with the Dallas Business Journal allowed her to grow the paper’s readership while connecting and partnering with some of the top companies and organizations in DFW. She has notable tenure as sales manager for “The World of Concrete,” one of the Top 20 largest events annually. A native New Yorker, she cites the Adirondack Park as her place to recharge her batteries hiking, kayaking, and spending time with her family. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2021-03-18 Christina Hughes Babb  Print This Post Urban Institute President Sarah Rosen Wartell this month hosted the latest installment in Urban’s conversation series, “Evidence to Action.” During the virtual event, Julián Castro, former Secretary of the US Department of Housing and Urban Development (HUD) during the Obama administration, discussed how the new administration can fulfill its obligations under the Fair Housing Act and close equity gaps in housing.  Following the discussion with Secretary Castro, Solomon Greene, Senior Fellow at the Urban Institute, Gustavo Velasquez, Director of the California Department of Housing and Community Development, and Lisa Rice, President, and CEO of the National Fair Housing Alliance, joined Wartell to address what states will need from the federal government to advance fair, equitable housing and discuss the most impactful actions the Biden administration could take. Wartell kicked off the broadcast by noting the “most extraordinary response to registrations for this event” for a late Friday afternoon discussion, a testament to the strength of the panel and topic.  She noted that President Biden’s day-one executive order indicates the administration will take an all-of-government approach when considering equity implications in all aspects of policy choice and that the federal government will work closely with states to fulfill its obligations under the fair housing act. When asked his thoughts on President Biden’s day-one commitment, the Secretary said he was glad to see it, and that it sends a strong message to the agencies who will carry out this work. He stated it will be necessary to “connect the dots of these policies. People don’t live their lives in silos, it’s about fair housing.” He added this also is about connecting to other opportunities that will break down the barriers of discrimination. Castro further remarked that the idea of a public credit reporting agency outlined during the Biden campaign would potentially help all homeowners, especially those of color, gain better access to capital. The conversation then shifted to the Presidential memorandum that acknowledged past federal housing policies’ contribution to segregation and the denial of opportunities in disadvantaged communities, particularly in Black and Brown neighborhoods. “You can’t fix a problem until you acknowledge it,” said the Secretary. Noting the previous administration sought to change the mission statement of HUD, Castro says this is the true history of how policies have created disadvantage: acknowledgment and working to overcome it.  The Presidential mandate directs HUD to revisit policies integral to fair housing, including Affirmatively Furthering Fair Housing (AFFH) seen as unfinished business from the 1968 Fair Housing Act. The Biden Administration will also extend housing protections for the LGTBQ community, including transgender individuals. Greene pointed out that while it’s disturbing to accept the government had a role in contributing to segregation, they will have a role in correcting it. Greene also noted “there is a growing body of research that shows how segregation hurts everyone. It hurts the families that are locked out of neighborhoods rich in opportunity, it drags down our economy, and poses grave health risks.” He also added more segregated areas experience higher rates of homicide, lower earnings, and lower property values.  Rice says the only way President Biden can deliver on his campaign promise to address housing and racial inequities is to immediately fix the problems with the disparate impact rule and reinstate AFFH to the 2015 rule change under the previous administration.  “We can use AI and machine learning to really bring the force of technology to bear to help identify where there are barriers to lending and housing opportunities, and then fix them.” Rice says public housing authorities and stakeholders for decades have been asking for technological training and support as it relates to implementing AFFH.  Velasquez echoed that reinstatement of the AFFH to the 2015 rule is critical. He further explained how the state of California at state and local levels anchor AFFH work in law AB686. Passed in 2018, it was in response to the federal policy of no longer enforcing the 2015 rule. Velasquez says more affordable housing can be achieved with higher density zoning in the right areas without exacerbating segregation. “The city of Sacramento, for example, is a good example. The capital of our state saw the need to take significant action and they recently eliminated in essence single-family zoning and we are starting to see a trend here that other cities may follow soon.”  To round out the discussion, each panelist was asked about their hopes for the next four years. All agreed that working across the silos mentioned by Secretary Castro and resetting the AFFH to the 2015 rule are priorities they would like to see come to fruition. Hear the entire conversation below or at Urban.org. About Author: Eileen Kornmeyer Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / D&I / Advancing Fair Housing, Racial Equity Through Federal Policy Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Servicers Navigate the Post-Pandemic World 2 days ago in D&I, Daily Dose, Featured, Government, News Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Subscribelast_img read more

Eircom to brief Letterkenny Council on future plans for the town in January

first_img Calls for maternity restrictions to be lifted at LUH 448 new cases of Covid 19 reported today By News Highland – December 14, 2011 Google+ Facebook Eircom to brief Letterkenny Council on future plans for the town in January Facebook Pinterest RELATED ARTICLESMORE FROM AUTHOR Twitter WhatsApp Google+center_img Pinterest Letterkenny Cllr Dessie Larkin has welcomed a commitment from Eircom that they will attend a meeting in the chamber in January, and brief the council on their future plans for the town.The company is planning a major broadband upgrade for next year, with Letterkenny one of a number of towns in which a pilot high capacity fibre optic broadband system is to be installed.Councillor Larkin in light of so many developments in the area, its important that Eircom and the council communicate closely to explore all options and requirements……[podcast]http://www.highlandradio.com/wp-content/uploads/2011/12/dessi3pm.mp3[/podcast] NPHET ‘positive’ on easing restrictions – Donnelly Previous articleRyanair to run one day return flights to Poland for Euro 2012Next articleDonegal North-East Deputy Joe McHugh defends household charge News Highland Three factors driving Donegal housing market – Robinson Help sought in search for missing 27 year old in Letterkenny WhatsApp News Twitter Guidelines for reopening of hospitality sector publishedlast_img read more

Condemnation in Derry following attack on former Deputy Mayor’s car

first_img Twitter WhatsApp By News Highland – May 18, 2011 Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey RELATED ARTICLESMORE FROM AUTHOR LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Guidelines for reopening of hospitality sector published Need for issues with Mica redress scheme to be addressed raised in Seanad also A car belonging to former Deputy Mayor of Derry Liam Bradley was extensively damaged in a petrol bomb attack outside his Lone Moor home at around 9.30 last night.Speaking after the attack, Mr Bradley’s daughter Kathleen Bradley said she is convinced the attack was carried out because her brother is a serving member of the PSNI.She said she stands by my brother.Over thirty years ago, she said, her father was an Irish independent Deputy Mayor of Derry, and and he was fighting for the rights of Irish people probably long before the person who did this was even born. Almost 10,000 appointments cancelled in Saolta Hospital Group this week Calls for maternity restrictions to be lifted at LUH Condemnation in Derry following attack on former Deputy Mayor’s carcenter_img WhatsApp Previous articlePoots will decide on NW Radiotherapy Unit within two weeksNext articleMc Conalogue backs call for reform of Department of the Marine News Highland Google+ Newsx Adverts Facebook Twitter Google+ Pinterest Facebook Pinterestlast_img read more