Though Millions Remain in Forbearance, Numbers Are Decreasing

first_imgHome / Daily Dose / Though Millions Remain in Forbearance, Numbers Are Decreasing in Daily Dose, Featured, Loss Mitigation, Market Studies, News  Print This Post Demand Propels Home Prices Upward 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 The Best Markets For Residential Property Investors 2 days ago Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily March 26, 2021 1,445 Views The Best Markets For Residential Property Investors 2 days ago A week ago we saw forbearance activity drop below 2.6 million for the first time since last April, according to Black Knight’s McDash Flash Forbearance Tracker, and the decline continues this week.Active plans fell again this week, dropping by another 19,000 (-0.7%) from the previous Tuesday. In total, this puts the number of active plans down by 135,000 over the last month, or – a 5% reduction.The monthly decline represents the healthiest rate of improvement since the end of last November.Black Knight’s researchers say it is a direct result of servicers working through the 1.2 million plans that entered this month with scheduled March month-end expirations for extension and/or removal.They stress that even with such strong monthly improvement, there are still more than 46,000 active plans with March month-end expirations, which provides the potential for additional improvement in the coming weeks.As of March 23, 2.57 million homeowners remain in forbearance, representing 4.9% of all homeowners with mortgages.By type of loan:The week’s improvement was driven by decreases among both Fannie Mae/Freddie Mac-backed loans, at -21,000, and FHA/VA plans, which dropped by 10,000. Among portfolio/PLS mortgages, however, activity increased by 12,000.”Early extension activity suggests servicers continue to approach forbearance plans in three-month increments, with the bulk of would-be March expirations being extended out through June,” BK reported. “Plan extensions have accounted for 75% of all extension/removal activity in recent weeks, but removals are up simply as a result of the volume of expirations that were scheduled for this month.”The Federal Housing Finance Agency (FHFA) recently announced extensions of several measures that the agency says will align COVID-19 mortgage relief policies across the federal government. This announcement, which extends temporary measures (previously set to expire March 31) until the end of June follows the White House’s February 16 moratoria extension applied to all federally backed mortgages through the same period.Said measures include provisions for borrowers with Fannie Mae or Freddie Mac-backed mortgages who may be eligible for an additional three-month extension of COVID-19 forbearance, according to a press release. This additional three-month extension allows borrowers to be in forbearance for up to 18 months. Black Knight notes this includes the bulk of would-be March expirations.Finally, the McDash Flash Payment Tracker shows that 90.7% of observed borrowers had made their payment through March 22, up from 89.8% at the same time in February.Find the full weekly forbearance reports on Black Knight’s blog. Servicers Navigate the Post-Pandemic World 2 days ago Previous: Ex-GSE CEO Sees Hope in Toomey’s Housing Reform Plan Next: SFR Markets See Decline in Annual Profits Subscribe Though Millions Remain in Forbearance, Numbers Are Decreasing Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago 2021-03-26 Christina Hughes Babb About Author: Christina Hughes Babb Share Savelast_img read more

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3 lessons learned from Amazon Prime program

first_imgAmazon celebrated 20 years of business this July with “Prime Day”. This one-day sales event has been touted to offer shopping discounts to rival those of Black Friday. The only criteria needed to participate in this event — you must be an Amazon Prime member. For a $99 annual fee, Prime members enjoy expedited shipping, unlimited streaming of movies, TV and music, free e books, cloud storage and early access to special shopping events. While loyalty/reward programs have been around a while, Amazon Prime is probably one of the best, and could be considered the template for creating the ultimate loyalty program for credit unions.Here are 3 Amazon Prime program features to consider when creating a credit union member loyalty program.DataAmazon is successful at building incredibly detailed profiles on its users. This data not only comes from static information, such as age and where they live, but their purchase behavior and preferred delivery channel. Currently, credit unions have this information and more. Credit unions typically collect enough information to predict members’ needs for a new car, home, college tuition or retirement. With additional strategic insight and data analytics they could likely predict lifestyle changes, such as marriages, divorces and births of children.To fee or not feeYes, Amazon has a payment threshold. While part of the annual fee probably covers hard costs like two day shipping, they probably make it up in increased volume. What would your credit union like to see its members do more, and would they pay for it? One recommendation is offering a hassle-free credit card that should it ever be breeched, the credit union will personally transfer over recurring payments to a new card.Continually modify the programAmazon continues to test new ideas on its Prime members using the incredible amount of data they currently have on each member while also continuing to gather more. They also add new services based on consumer needs as well as purchases. What are members currently doing repetitively and what would your credit union offer them as a new service or offering? The most frequent payments members make monthly is to their cell phone provider. What could your credit union offer them that could reduce that cost? Is there a partnership that can be formed with cell phone providers that would give your members benefits for being a member of your credit union? The question here is, how to does your credit union carve out value like Amazon?The obvious criteria to building an Amazon-like loyalty program is to have access to member’s data. Luckily, you work for a credit union, and not just a retailer, so this information is at your fingertips!If you need any guidance on how to access, or leverage this data, feel free to reach me at [email protected] 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Anne Legg Anne Legg, founder and principal of THRIVETM Strategic Services THRIVE works with credit unions to develop transformational business strategies from their business insights to grow in a competitive, highly regulated … Web: https://www.anneleggthrive.com Detailslast_img read more

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India vs Australia: What awaits India in Perth after highs of Adelaide

first_imgVirat Kohli, it seemed, defied gravity and stayed in the air forever when KL Rahul grabbed a catch to dismiss Australia’s No. 11 Josh Hazlewood during the tense final session of the Adelaide Test on Monday.The India skipper was elated as his side ended a 10-year-drought for a Test win Down Under and became the first team from the Asian country the opening Test of a series in Australia.In the absence of the banned duo of Steve Smith and David Warner who had scored nearly 40% of Australia’s runs during the 2014-15 series, India had a slender advantage going into the four-match series.However, the memories of early-season heartbreaks in England and South Africa wherein India let go of opportunities to win the opening Tests still remained fresh.That’s seemingly why Kohli leapt up in the air with arguably with more relief than joy. India finally crossed the finish line, albeit after going through a few nervous moments, as described by coach Ravi Shastri.Buoyed by the win, India will head into the Perth Test, starting December 14 with a lot of confidence. The pressure certainly seems to be on the hosts, who have very little time to recover and fix the issues that led to their downfall in Adelaide.However, the narrative around the second Test in the lead up to it has been the “pace and bounce” that is expected to be on offer in Perth.The two teams are not going to play at the traditionally pace-rich WACA that has proved to be a graveyard for many visiting teams in the past but at the Optus Stadium, which will be hosting its first Test.advertisementA drop-in pitch will be used for the second Test but quite a few from the Australian camp, including captain Tim Paine and coach Justin Langer, have warned the high-flying visitors of a typical pace-rich Perth track at the new venue.Former Australia captain Ricky Ponting even opined that the hosts have a good opportunity to bounce back in the upcoming Test, adding that the conditions in Perth will suit Tim Paine’s men more than their opposition.”I think Perth will definitely suit our guys a lot more than the Indian players, but the Aussies need to bounce back pretty quickly. They played pretty poorly this week and got within 30 runs. And that’s not saying India played at their absolute best either, but they’re absolutely capable,” Ponting told cricket.com.au.Australia have the pace battery, one of the best going around, to dismantle even a strong batting line-up like India’s. However, Mitchell Starc-led three-man attack were far from impressive in Adelaide wherein off-spinner Nathan Lyon saved Australia’s blushes.Also, India, in the recent past, have found ways to win in difficult conditions.Take the Johannesburg Test of 2018 for example. Kohli’s men put behind the disappointment of having lost a three-match series and braved a “dangerous pitch” to clinch a rare win in the Rainbow Nation. Indian batsmen showed grit and the much-talked-about pace attack stepped up and shot out the Faf du Plessis-led hosts. The famous win at Lord’s in 2014 is another testament to India’s ability to overcome tough conditions.A fast pitch at Perth can prove to a double-edged sword for Australia. While the Indian batsman, barring a few, have struggled overseas in 2018, the hosts have weakened batting unit that was exposed in Adelaide.It is safe to say the Indian bowlers comfortably outshone their Australian counterparts in the first Test. Wouldn’t they be licking their lips, waiting in anticipation to make use of the “really fast” track in Perth?Also Read | Alyssa Healy takes a dig at Mitchell Johnson for criticising husband Starc on airAlso Read | Cheteshwar Pujara the difference between India and Australia in Adelaide: Allan BorderAlso See:last_img read more

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