Total Refinance Volume Fell According to Recent Report

first_img Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Headlines, News Total Refinance Volume Fell According to Recent Report Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily About Author: Brianna Gilpin Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Federal Housing Finance Agency refinancing 2017-06-15 Brianna Gilpin The Best Markets For Residential Property Investors 2 days ago Related Articles June 15, 2017 1,341 Views The Federal Housing and Finance Agency released their April 2017 Refinance Report Thursday showing falling total refinance volume as mortgage rates in March remained higher than the lows observed in 2016. Overall, mortgage rates decreased in April with the average 30-year fixed being 4.05 percent, down from 4.20 percent in March.HARP, which was established in 2009 to help those who couldn’t refinance due to decline in home value, was designed to give borrowers a chance to refinance by permitting the transfer of existing mortgage insurance to their newly refinanced loan, or allowing those without mortgage insurance on their previous loan to refinance without obtaining new coverage.HARP had 3,493 refinances in April—which brings the total refinances from the inception of the program to 3,464,589. This represented 3 percent of total refinance volume. 6 percent of the loans refinanced through HARP had a loan-to-value ratio greater than 125 percent.According to FHFA, borrowers with loan-to-value ratios greater than 105 percent accounted for 19 percent of the volume of HARP loans year-to-date through April 2017. Twenty-five percent of HARP refinances for underwater borrowers year-to-date were for shorter term 15- and 20-year mortgages, which build equity faster than traditional 30-year mortgages. Refinances through HARP represented 6 or more percent of total refinances in Nevada and Florida—double the 3 percent of total refinances nationwide over the same period.Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program, according to the FHFA. Ten states in the U.S. accounted for over 60 percent of the Nation’s HARP eligible loans with a refinance incentive as of December 31, 2016. These states include Florida, Illinois, Michigan, Ohio, Georgia, Puerto Rico, Pennsylvania, New Jersey, New York, and Alabama. The national total of HARP eligible loans with refinance incentive was 137,594. Tagged with: Federal Housing Finance Agency refinancingcenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Most Buyers Unfazed by Rate Hikes, Inventory Continues Dropping Next: Freddie Mac Slaps a Price Tag on STACR Deal The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Total Refinance Volume Fell According to Recent Report Data Provider Black Knight to Acquire Top of Mind 2 days ago Brianna Gilpin, Online Editor for MReport and DS News, is a graduate of Texas A&M University where she received her B.A. in Telecommunication Media Studies. Gilpin previously worked at Hearst Media, one of the nation’s leading diversified media and information services companies. To contact Gilpin, email [email protected] Demand Propels Home Prices Upward 2 days ago Subscribelast_img read more

News story: New Immigration Services Commissioner appointed

first_imgThe OISC is a public body established by the Immigration and Asylum Act 1999 and is independent of government, allowing it to challenge processes and regulations to improve the system. Where individuals and organisations have acted illegally, the OISC has the power to prosecute.To help the public make informed choices, the OISC publishes a list of competent organisations and individual advisers who have been through a rigorous process of assessment. There is also a robust complaints procedure so people can report those who they feel have given inappropriate immigration advice. Our immigration system is fundamental to the UK’s success and it is important that we make sure people are not given illegal and false immigration advice. The commissioner plays a key role in setting strong industry standards and I look forward to working with John to build confidence in the UK’s immigration system. Immigration Minister Caroline Nokes said: We have a duty to improve the quality of immigration advice and I want to ensure that people feel confident with the services they receive. I am delighted to take on this new role and intend to do all I can to stop illegal immigration advice and promote good practice. John Tuckett has been appointed as the Immigration Services Commissioner, responsible for regulating immigration advisers and services across the UK.Currently Chief Executive of the Marine Management Organisation, John will lead the Office of the Immigration Services Commissioner (OISC) to protect people from illegal immigration advice, set clear standards for the sector and reduce abuse.He will take up the role in summer 2019 and remain in post for the next five years.Immigration Services Commissioner John Tuckett said:last_img read more