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The property mirage that defined a decade
http://www.independent.ie/lifestyle/the-property-mirage-that-defined-a-decade-29942139.html
The property mirage that defined a decade 'Against stupidity, the gods themselves contend in vain," observed the German poet-philosopher Frederich von Schiller. Welcome to Ireland in the Noughties, when the country mutated into a new entity best described as Irelandistan.

Wells Fargo Selling 42 Smaller Regional Insurance Offices to USI
http://www.insurancejournal.com/news/national/2014/01/24/318278.htm
Wells Fargo & Co., the largest U.S. home lender, has agreed to sell more than 40 percent of its insurance brokerage locations to focus bricks-and-mortar operations on higher-growth regions and bigger clients. Lexington, Louisville; (Mich.) Grand

Fitch: Raised Countercyclical Buffer Eases Swiss Property Risks
http://www.reuters.com/article/2014/01/23/fitch-raised-countercyclical-buffer-ease-idUSFit68649120140123
A larger capital cushion for unexpected losses will help offset the build-up of credit risks at banks from a mortgage market growing more quickly than GDP. Mortgage loans increased by 4.4% on an annualised basis in the first nine months of 2013

Pacific Continental Corporation (PCBK): Pacific Continental's CEO Discusses Q4 ...
http://seekingalpha.com/article/1964611-pacific-continentals-ceo-discusses-q4-2013-results-earnings-call-transcript
Such forward-looking statements including statements about suggested future profitability, loan growth, problem asset resolution, changes in the net interest margin, and anticipated cost savings, results, and performance of acquisitions of other

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Here's how predicting housing cycles improves mortgage lending

Although Property Value Forecasts are unlikely to have dedicated reports on the evening news, gauging which way the housing winds are blowing is of daily concern to lenders and stakeholders in U.S. financial services. For that reason, HousingWire invited my firm, Veros Real Estate Solutions , to provide a weekly column that looks out at various time horizons to check the ebb and flow of housing valuations.

For lenders, having reliable data-driven predictions is essential for a range of decisioning: determining reliable loan-to-value (LTV) thresholds; examining risk at origination; understanding at-risk portions of a portfolio for acquisition or loss-mitigation purposes; improving servicing strategies in situations of default, REO or short sale; and understanding and identifying suitable loan modification options to avoid additional risk for troubled homeowners.

For the past decade and a half, Veros has been refining the tools and methodologies that it uses to drive the forecasting data in its proprietary VeroFORECAST platform. VeroFORECAST uses more than 50 macro- and micro-level "key predictor variables" to realistically forecast residential home prices and market stability, up to 24 months into the future, for use in a majority of U.S. zip codes. A few of the more significant and dependable predicators include the rate of population growth, the current unemployment rate, and housing supply. The system analyzes single-family residence and condominium/townhouse property data, in three price tiers, across all the key predictors.

Back from the Dead

Jonathan Baker bought his house in Eugene’s Jefferson Westside neighborhood for a dollar.

The previous owner’s husband had died in 2010, and after 18 months of disagreement about mortgage payments with JP Morgan Chase Bank, she abandoned the house. From 2012 to the end of 2015, the house lay vacant, wasting away, undead — a zombie house.

When a homeowner ceases mortgage payments, banks often fail to maintain the property post-foreclosure and sometimes even stop foreclosure proceedings — without notifying the owner after the house is empty. The defaulted property racks up fines as well as the costs of maintenance, security and legal fees.

When banks keep possession but cede responsibility for maintenance, the resulting zombie houses stress delinquent owners, create a persistent neighborhood blight and often cost cities and counties money.

“We have not dealt with the wreckage of the 2008 housing crisis. Buying these homes out of foreclosure and short sales is very difficult,” Ted Coopman says. Coopman is a Jefferson Westside Neighbors councilor.