first_img Demand Propels Home Prices Upward 2 days ago Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: NMSA and HUD Work to Improve CWCOT Program Next: How Many Americans Cite Housing as Primary Debt Driver? The Week Ahead: Nearing the Forbearance Exit 2 days ago A Look Back at Real Estate Performance Subscribe The Best Markets For Residential Property Investors 2 days ago Applications mortgage 2020-02-26 Seth Welborn  Print This Post About Author: Seth Welborn in Daily Dose, Featured, Market Studies, News Home / Daily Dose / A Look Back at Real Estate Performance Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago February 26, 2020 1,213 Views Tagged with: Applications mortgage Servicers Navigate the Post-Pandemic World 2 days ago From rent and home price appreciation to loan performance and the end of LIBOR, CoreLogic’s latest Market Pulse report reviews the most important data for servicers and lenders alike. According to the report, U.S. single-family rents increased 2.9% year over year in December 2019, while the national CoreLogic Home Price Index increased more than 3% in 2019 and is forecast to rise about 5% in 2020.CoreLogic found that the nation’s overall delinquency was 3.9% in November 2019, which is a marginal decline from last year’s 4%. November’s reading was the lowest reading for November in more than 20 years.The share of delinquent mortgages in November historically peaked in 2009 at 11.5%. Since March 2018, the overall delinquency rate each month has been lower than the pre-crisis period from 2000 to 2006. The rate averaged 4.7% during that time.The report also covered the end of LIBOR. Jacqueline Doty, Executive, Product Management, Collateral Risk Solutions at CoreLogic, explained that the end of LIBOR will impact $1.2 trillion dollars in adjustable-rate mortgages.”It means that lenders with loans or lines of credit based on the LIBOR index will need to identify and review the terms of all of their LIBOR loans,” said Doty. “A portfolio of loans likely contains a wide variety of terms regarding LIBOR, and this will need to be assessed.”LIBOR’s end is likely to impact more than lenders and borrowers. According to Fitch Ratings, U.S. RMBS servicers showed an improved awareness of difficulties and implications tied to the anticipated expiration of LIBOR at the end of 2021.To help facilitate the likely transition away from LIBOR, Doty notes that the Federal Reserve convened a working group called the Alternative Reference Rates Committee. The ARRC has recommended an alternative to the LIBOR index called the Secured Overnight Financing Rate (SOFR) and has started promoting its use on a voluntary basis.Lenders may need to face modification. Between now and the end of LIBOR, there’s a good possibility that many loans will need to be modified because the fallback provisions are either nonexistent, unclear or impractical.”For example, in some cases, the margin cannot be adjusted and it is either too high or too low when added to the new alternate index,” Doty said.But there’s no need to panic just yet,” she adds. “The good news is there’s still time to successfully manage a smooth and efficient transition. Now is a good time for lenders to start auditing their loan data and documents and planning for fulfillment of amendments or borrower notifications.” Servicers Navigate the Post-Pandemic World 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. Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days agolast_img read more

first_imgWhile many students were savoring the dwindling days of relaxation before the spring semester’s grind, Harvard freshmen Josh Palay and Andrew Mauboussin were back on campus last week, already putting in long hours of work.The two were designing a new, unofficial, online interface for Harvard’s Q Guide, the website where students can find evaluations of Harvard courses written by past students in the class. While the site is a good resource for students considering taking a course, it contains data that’s not easily accessible, such as a comparison of course evaluations over several years, according to Palay. Palay and Mauboussin want to put that information at students’ fingertips.“I felt kind of frustrated with the original interface,” Palay said. “We’re making it easier to find courses, nicer to look at. We’ve added charts to view [instructional] trends.”Palay and Mauboussin formed one of 17 student teams participating in Hack Week, an intense, immersion-style incubator for student computer science projects. Sponsored by the Harvard student group Hack Harvard, the “week” was held over 10 days, from Jan. 18-27, mixing 21 seminars on topics intended to help students advance their projects, visits to area technology companies, and work sessions to push projects to completion.Held at the Harvard Innovation Lab (i-lab), students regularly worked until 1 or 2 a.m. and pulled at least one all-nighter, Friday night’s “hack-a-thon” — a 9 p.m. to 6 a.m. push to help students finish their projects in time for “demo day” on Sunday.Josh Palay (left) and Andrew Mauboussin talk about their collaboration during Hack Week.Hack Harvard’s president, Lexi Ross, and Zach Hamed, a member of the group’s organizing board, said the purpose of Hack Week is not just to push students to finish projects, but also to get them thinking about how to get the projects out to the real world, to consider not only software issues, but also business plans, financing, and the steps needed to take a project from the dorm room to Main Street.Hack Harvard began two years ago with the first Hack Week, Ross said. Today, the group hosts events throughout the year, with weekly Hack Nights featuring a speaker from the computer technology community, periodic Hack-a-thons lasting from several hours to several days, and the annual Hack Week.“It’s an incubation program to turn student projects into startups,” Ross said. “It’s an intense week for computer science students, particularly first- and second-year, and gives them a taste of being an entrepreneur.”Hack Week draws back alumni from previous sessions, including senior Peter Boyce, who was a founder of the first Hack Week and served as a mentor this year. Boyce, who with Hamed and five students from other colleges began a startup called Rough Draft Ventures, offered a seminar on how to become part of the Boston tech scene.“It’s really important to share my experience, having been part of a startup,” Boyce said. “All this stuff thrives on the pay-it-forward model.”Projects selected for Hack Week include the Q Guide redesign, video games, health and fitness programs, and a project to enable instant in-store communication between retailers and their customers.The last project, worked on by freshmen Nithin Tumma and Neel Patel, is creating a way for businesses to push a variety of content — maps to a store, discount coupons, and the like — to customers’ mobile phones. Customers, in turn, can live chat with store personnel if, say, they need help in an aisle where no clerks are available.For example, Tumma and Patel said, a grocery store could push out a coupon giving discounts on produce that, while still fresh, isn’t moving as quickly as it should. It could reach customers who were shopping in the store at the time and prompt them to make a purchase. The businesses would also be able to harvest analytics from the system to learn more about their customers.By midweek, Tumma and Patel had the basic infrastructure designed. Once completed, they hope to test it with local businesses.“It lets businesses address customers’ needs within the store,” Patel said. “The Hack Week support, just being around people working on similar projects, is awesome.”last_img read more