Housing Trends: Effects of Student Loan Debt on Millennial Renters Creditworthiness
Education Still Makes a Difference As college costs have skyrocketed, students and their families have taken on debt to make up the difference. Many studies have pointed out that the increasing student debt has created a financial burden on millennials and postponed their homebuying decisions. Few addressed the effect of student loan debt on millennials’ […]
Insurance: Earthquake Risk Spotlight on California
New Science is Transforming the Way Earthquake Risk is Managed Recent changes in earthquake hazard science in California are transforming the way we think about managing earthquake risk. The Uniform California Earthquake Rupture Forecast (UCERF) is a multi-year project by a consortia of leading scientists known as the Working Group on California Earthquake Probabilities (WGCEP) […]
Housing Policy: An Unconstitutional Structure Part II
Industry Reactions to the PHH v. CFPB Decision On October 11, a panel of judges on the U.S. Court of Appeals for the District of Columbia ruled that the single-director structure of the Consumer Financial Protection Bureau (CFPB or the bureau) was unconstitutional. The ruling does not replace the director with a board or group […]
Housing Policy: An Unconstitutional Structure Part I
What You Need to Know About the PHH v. CFPB Decision BACKGROUND TO PHH V CFPB In November 2014, New Jersey-based mortgage lender PHH Corporation was fined $6.4 million for illegally taking kickbacks in the guise of reinsurance premiums paid by mortgage insurers to one of the company’s subsidiaries. Six months later, the Director of […]
Housing Trends: Cash and Distressed Sales Update July 2016
Cash Sales Accounted for Just Under 30 Percent of All Home Sales in July The cash sales share fell 1.9 percentage points from July 2015 Of total sales in July 2016, distressed sales accounted for 7.2 percent and real estate-owned (REO) sales accounted for 4.3 percent The REO sales share in July was the lowest […]
Housing Trends: Six Key Takeaways from the 2015 HMDA Numbers
CoreLogic Origination Estimate Tracks HMDA Closely The 2015 federal Home Mortgage Disclosure Act (HMDA) numbers are in and they line up closely with CoreLogic’s estimate of total home loan origination last year[1]. The CoreLogic estimate for single-family first-lien mortgage originations of $1.69 trillion in 2015 was just a hair above HMDA’s $1.64 trillion and particularly […]
Insurance: Earthquake Safety
Drop, Cover and Hold On in the Great ShakeOut On October 20, 2016, millions of people around the world will Drop, Cover and Hold On as part of the Great ShakeOut1, the largest earthquake drill in history. Several million earthquakes occur globally each year, but most are very small or happen in remote locations.2 Small-to-moderate […]
Insurance: Earthquake Risk Spotlight on Italy
August 2016 Earthquake Strikes the Region Historically Prone to Earthquake Disasters Italy is a vibrant country with a rich history of architecture, art, culture and culinary traditions. It is also a very seismically active region with an extensive history of damaging earthquakes. Destructive earthquakes regularly occur across the country, resulting in significant economic loss and […]
Housing Trends: Mortgage Concentrations Have Fallen Below Pre-Crash Levels
Top 10 Lenders Now Command Less Than 25 Percent of Total Volume The market share of top lenders, which jumped just after the 2007-2009 recession, has fallen to levels below the ones that existed before the mortgage crash. A 10-year retrospective shows that as of August of this year[1], the top 10 first lien originators […]
Insurance: Earthquake Risk Spotlight on the U.S
Location Matters: A Cross-Country View From businesses and corporations to the average person on the street, most people don’t think of natural hazard risk on a daily basis. Recently, major catastrophic floods and wildfires have made headlines, and the Midwest fears and plans for tornado season every year, while the East Coast prepares for hurricane […]
