Watt Blames Homeowner Skepticism for HARP Slowdown

first_imgSubscribe Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Sign up for DS News Daily Related Articles  Print This Post Chicago HARP Illinois Refinance 2014-07-08 Derek Templeton Derek Templeton is an attorney based in Dallas, Texas. He practices in the areas of real estate, financial services, and general corporate transactional law. His experience includes time as an Attorney Adviser for the U.S. Small Business Administration and as General Counsel for a nonprofit organization in Dallas. A self-avowed “policy junkie,” he has a keen interest in the effect that evolving federal policy has on the mortgage, default servicing, and greater housing industries. Tagged with: Chicago HARP Illinois Refinance Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Derek Templeton July 8, 2014 1,194 Views In a town hall style meeting in Chicago Tuesday, Mel Watt, Director of the Federal Housing Finance Agency (FHFA), blamed fear of being taken in by a scam for eligible homeowner’s reluctance to take advantage of the Home Affordable Refinance program (HARP).”We are down to the people who don’t believe this is a credible program,” Watt said in a meeting with community groups and housing counseling agencies at a Chicago Public Library branch. “We’ve got approximately $72 million that we’d like to give away in this metropolitan area. People won’t come in and say I want that money.”According to an FHFA report, the number of homeowners refinancing monthly through HARP has dropped nationally, to just under 20,000 loans in April 2014, down year-over-year from almost 107,000 in April 2013.HUD contends that on average, homeowners who refinance through HARP are saving $191 per month by lowering their interest rates. HARP allows homeowners to refinance regardless of if they owe more on the home than it is actually worth.The Chicago event was anticipated because there was some speculation that Watt could announce an extension for the program, which is currently set to expire in December of 2015. The speculation proved fruitless however, with no such announcement taking place.Instead Watt announced that Chicago was going to be the second city admitted into the federal government’s pilot Neighborhood Stabilization Initiative intended to assist homeowners who are behind on their mortgages, help neighborhoods recover, and reduce the inventory of REO properties held by Fannie Mae and Freddie Mac. Detroit, the first city in the program, was admitted in May.HUD estimates that hundreds of thousands of citizens nationwide, including 36,000 in the City of Chicago alone, are eligible to benefit from HARP but have yet to step forward. Officials have noted that as interest rates rise, the incentive to participate fades.With more promotional events scheduled in the coming months in cities around the nation, the push is on to get as many eligible homeowners as possible into a refinance before an interest rate increase shrinks the eligibility pool. Demand Propels Home Prices Upward 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: CFPB Issues Ruling to keep Heirs from Falling into Foreclosure Next: Possibility of a New Bubble Concerns Lenders The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Watt Blames Homeowner Skepticism for HARP Slowdown Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Watt Blames Homeowner Skepticism for HARP Slowdown Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Government, Headlines, Magazine, News, State Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agolast_img read more

Exclusive: Christian party deal in Botany – National’s big hope?

first_imgNewsTalk ZB 17 May 2019Family First Comment: “… the coalition Government in office is pushing a number of controversial issues, like liberalising abortion, marijuana, gender ideology in schools, euthanasia and Jacinda Ardern’s condemnation of Israel Folau which he says doesn’t sit well with the Pacific community…”The coalition lifeline that National will need if it’s to have a chance at the next election looks set to come in the form of a Christian party led by one of its own, former Cabinet Minister Alfred Ngaro.Talk within the party’s been rife for weeks now with Ngaro’s plan being well received and with the possibility of National standing aside, possibly in the Botany seat, where it has the strongest party vote by far.The seat’s currently held by rebel independent MP Jami-Lee Ross who himself can’t take credit for the party vote. It was entrenched when the electorate came on to the political map in 2008 when it was won by Pansy Wong who, like the ignominious departure of Ross, also left in a blaze of publicity in 2011 over the misuse of Parliamentary travel expenses.There’s a lot of Christian money in the electorate. It has a good number of Pacific Island churches in Otara to the west, a sizeable, conservative, Christian South African community and a significant number of Koreans and Taiwanese Christians.Family First’s Bob McCoskrie has shared a podium with Ngaro on a number of occasions, as recently as this week. He says there’s definitely a gap in the choice facing the voter wanting to cast their ballot for a morally conservative party.McCoskrie says the coalition Government in office is pushing a number of controversial issues, like liberalising abortion, marijuana, gender ideology in schools, euthanasia and Jacinda Ardern’s condemnation of Israel Folau which he says doesn’t sit well with the Pacific community.As for National standing aside in Botany, he says the choice for the voters there is clear.“If they can understand the bigger picture, and understand if they want a centre right government they may need to hold their noses and vote for a candidate who they normally wouldn’t vote for. They will vote because they know that the party that candidate represents will go into coalition with National and get them across the line.”If Ngaro managed to pull it off and win in Botany and scraped up 3 per cent of the party vote he could expect another three seats in Parliament. In the first MMP election the Christian Coalition got 4.6 per cent of the vote and in 2014 Colin Craig’s Conservatives got just on 4 per cent before it crashed and burned on the eve of the ballot after his press secretary Rachel McGregor resigned.McCoskrie says there’s definitely a constituency out there looking for a party that Ngaro could represent and National certainly needs a lifeline.READ MORE: https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/audio/barry-soper-national-needs-friends-is-alfred-ngaro-the-answer/Alfred Ngaro to set up Christian conservative party – reportNewsHub 17 May 2019 Judith Collins says she wasn’t aware of rumours her colleague Alfred Ngaro might be quitting the party to form his own.NZME reported on Friday the former Cabinet minister is planning to lead a new Christian conservative party, potentially providing National with another coalition partner at next year’s election.The plan works like this: National won’t run a candidate in the Botany electorate, currently held by rogue former National MP Jami-Lee Ross. Instead they’d encourage voters to give Ngaro the tick, in much the same way they currently prop up ACT in Epsom.“We do get MMP,” Collins told The AM Show on Friday, saying it’s the first she’s heard of the alleged plan. “We’ve got MMP around Epsom for instance, over the years. There’s a lot of rumour and speculation, but look – I’d say it’s an interesting idea.”Ngaro reportedly has one high-profile Conservative firebrand on his side – Family First director Bob McCoskrie, who told NZME there’s a gap in the market for a Christian party, citing unease over changes to legislation around euthanasia, cannabis and abortion, as well as Prime Minister Jacinda Ardern’s condemnation of homophobic rugby star Israel Folau.READ MORE: https://www.newshub.co.nz/home/politics/2019/05/alfred-ngaro-to-set-up-christian-conservative-party-report.htmlCould a Christian party be National’s saviour?Otago Daily Times 17 May 2019The coalition lifeline that National will need if it’s to have a chance at the next election looks set to come in the form of a Christian party led by one of its own, former Cabinet Minister Alfred Ngaro.Talk within the party’s been rife for weeks now with Ngaro’s plan being well received and with the possibility of National standing aside, possibly in the Botany seat, where it has the strongest party vote by far.The seat’s currently held by rebel independent MP Jami-Lee Ross who himself can’t take credit for the party vote. It was entrenched when the electorate came on to the political map in 2008 when it was won by Pansy Wong who, like the ignominious departure of Ross, also left in a blaze of publicity in 2011 over the misuse of Parliamentary travel expenses.Family First’s Bob McCoskrie has shared a podium with Ngaro on a number of occasions, as recently as this week. He says there’s definitely a gap in the choice facing the voter wanting to cast their ballot for a morally conservative party.McCoskrie says the coalition Government in office is pushing a number of controversial issues, like liberalising abortion, marijuana, gender ideology in schools, euthanasia and Jacinda Ardern’s condemnation of Israel Folau which he says doesn’t sit well with the Pacific community.As for National standing aside in Botany, he says the choice for the voters there is clear.“If they can understand the bigger picture, and understand if they want a centre right government they may need to hold their noses and vote for a candidate who they normally wouldn’t vote for. They will vote because they know that the party that candidate represents will go into coalition with National and get them across the line.”READ MORE: https://www.odt.co.nz/news/national/could-christian-party-be-nationals-saviour National needs friends … Is former Cabinet Minister Alfred Ngaro the answer?NZ Herald 17 May 2019 The coalition lifeline that National will need if it’s to have a chance at the next election looks set to come in the form of a Christian party led by one of its own, former Cabinet Minister Alfred Ngaro.Talk within the party’s been rife for weeks now with Ngaro’s plan being well received and with the possibility of National standing aside, possibly in the Botany seat, where it has the strongest party vote by far.The seat’s currently held by rebel independent MP Jami-Lee Ross who himself can’t take credit for the party vote. It was entrenched when the electorate came on to the political map in 2008 when it was won by Pansy Wong who, like the ignominious departure of Ross, also left in a blaze of publicity in 2011 over the misuse of Parliamentary travel expenses.Family First’s Bob McCoskrie has shared a podium with Ngaro on a number of occasions, as recently as this week. He says there’s definitely a gap in the choice facing the voter wanting to cast their ballot for a morally conservative party.READ MORE: https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12231733last_img read more