Where There’s Smoking Demand, There’s Defect Risk Fire

first_img  Print This Post The Best Markets For Residential Property Investors 2 days ago Where There’s Smoking Demand, There’s Defect Risk Fire About Author: Brianna Gilpin Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Where There’s Smoking Demand, There’s Defect Risk Fire The Week Ahead: Nearing the Forbearance Exit 2 days ago in Daily Dose, Featured, Market Studies, News Data Provider Black Knight to Acquire Top of Mind 2 days ago 2017-06-28 Brianna Gilpin Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 28, 2017 1,074 Views Related Articles The May 2017 Index reveals an increase in frequency of defects, fraudulence, and misrepresentation in the information submitted in mortgage loan applications by 2.5 percent, compared to April 2017.According to a report by First American, the index estimates the level of defects in submitted mortgage loan applications processed by the First American’s FraudGuard system. The findings are determined based on the frequency that defect indicators are identified. The Defect Index moves higher as greater numbers of defect indicators are found—increases representing a rising level of loan application defects.The Defect Index increased by 13.7 percent since last year. Refinance transactions increased by 3 percent month-over-month with a 9.7 percent increase and purchase transactions rose 11.1 percent in the same time frame.Mark Fleming, First American’s Chief Economist said the Loan Application Defect Index is now reaching levels of risk not seen since 2015.“While risk is growing in both purchase and refinance transactions,” Fleming said, “it’s important to recognize that loan application defect, fraud, and misrepresentation risk remains below the peak reached in 2013.”Fleming said the purchase transaction risk is 13 percent below the peak and refinance transaction risk is 32 percent below.”The purchase-pivot in the housing market continues to add fuel to the fire of the overall level of application, defect, and fraud risk,” Fleming said.According to Fleming, this Loan Application Defect Risk is creating a “heat wave” that is destroying several Southern markets.McAllen, Texas ranked first followed by Charleston, South Carolina; Birmingham, Alabama; Knoxville, Tennessee; and Augusta, Georgia. Fleming calls these cities “hot spots” for loan defect risk getting “hotter,” as the risk in these markets is increasing significantly.The defect risk in each market has increased by a minimum of 10 percent in the past year, and southern markets are experiencing some of the strongest growth in housing demand as people seek the lower cost of living compared to northeastern and western markets, according to Fleming.“Where there’s smoking demand, the flames of defect risk typically follow,” Fleming said.According to First American, the next release of the Loan Application Defect Index will be posted the week of July 24, 2017. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago 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] Previous: Lowest Home Appreciation in the U.S. Next: The Psychology Behind Why People Buy, And Where The Best Markets For Residential Property Investors 2 days ago Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Subscribelast_img read more

Blogger challenges Rightmove over agent’s ‘ghost’ rental property listings

first_img A blogger has highlighted over the weekend how reluctant the UK’s industry regulators are to deal with apparent ‘ghost’ rental properties on Rightmove.It details how late last year one branch of a leading London estate agent was suspected of re-listing properties that had already been let.After being contacted, Rightmove blamed the problem on a technical hitch within the agency’s property software, and that the portal had removed them manually.The blogger’s unnamed source, which includes screenshots of both Rightmove’s and Portico’s listings, also presented the information to local and national Trading Standards but was told the issue related to lettings and therefore could not be investigated.The re-listed properties were also referred to the Advertising Standards Authority, which treated the adverts as an informal issue and declined to launch a full investigation.Rightmove replyIn a letter issued by the portal concerning the re-let rental properties, one of its data quality team says: “Following feedback on how property’s update through the agent’s software to Rightmove, I have raised this directly with the agent’s software provider.“It has been found from our own technical investigations that the properties were being removed internally by the agent but were not coming off Rightmove.“The software provider has been testing this and confirmed the technical issue that they are causing the agent to have.”Rightmove says in the blog that it is now monitoring Portico’s listings to ensure the problem does not re-occur.Portico has been contacted by The Negotiator but has not to date replied to the points made in the blogger.  Portico Rightmove April 8, 2019Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021 Home » News » Marketing » Blogger challenges Rightmove over agent’s ‘ghost’ rental property listings previous nextMarketingBlogger challenges Rightmove over agent’s ‘ghost’ rental property listingsResearch findings points to portals and regulators being too reluctant or slow to tackle instances of properties re-advertised after being let.Nigel Lewis8th April 201901,271 Viewslast_img read more

SDB hosts week to increase disability awareness

first_imgIn an effort to increase knowledge about mental and learning disabilities, the Student Diversity Board (SDB) is hosting a week dedicated to raising awareness around the Saint Mary’s campus among students, faculty and staff. Disabilities Awareness Week, which continues today and ends Friday, is an annual event SDB organizes in order to encourage students to educate themselves about disabilities. Senior Maggie Galvin, SDB president, said the week is especially important to highlight students at Saint Mary’s who experience different types of disabilities. “Student Diversity Board hosts Disabilities Awareness Week to shed light on the various disabilities on Saint Mary’s campus,” she said. “So many girls are living with unseen disabilities and struggling with them every day – from learning disabilities to mental disabilities.” According to Galvin, another goal of the week is to prevent the formation of stereotypes and judgments. She said people need to understand that having a disability is something people of all types and backgrounds experience. “Student Diversity Board would like to show that disabilities, whether they can be seen or not, should not be ignored and more prevalent than one may think,” she said. “We started to fulfill this goal last year with our posters of celebrities and their disabilities, which will continue with this year’s week.” Rhonda Tomenko, a communicative disorders professor at the College, will conduct hearing screenings today from 12:30 to 2 p.m. in the Student Center atrium as part of Disabilities Awareness Week.  “Hearing screens are administered to children because of school rules, but as we age we do not receive them anymore unless one notices a problem with their hearing,” Galvin said. “With how loudly we listen to our music in our ear buds, it is very important to know if you have any sort of hearing loss.” On Wednesday, SDB will show a movie from 8 to 10 p.m. in Vander Vennet Theater in the basement of the Student Center. Galvin said the movie choice has not been determined yet but will either be “Aphasia” or “Tru Confessions.” “‘Tru Confessions’ is a Disney Channel movie about a girl who makes a documentary about her brother who has a developmental disability that causes him to act like a child,” Galvin said. “‘Aphasia’ is a documentary about one father’s struggle to relearn how to speak after he has a stroke.” On Thursday, the board will hang posters around campus that showcase different celebrities with learning and mood disabilities. “I love walking around campus and seeing girls reading the posters of celebrities and saying ‘Oh! Steve Jobs was dyslexic?’” she said. “It really sinks in that anyone can be living with a disability and you would never know.” Galvin said Disabilities Awareness Week is an important asset to the Saint Mary’s community and students have a lot to learn. “Students should attend the events for Disabilities Awareness Week because they are engaging as well as educational.” Contact Bridget Feeney at [email protected]last_img read more