Based on the recent data reported by Black Knight, 4.73 million homeowners are in active forbearance as of the end of May 2020[1]. The big question is how many of these will end up in default and foreclosure. According to Black Knight, about half a million homeowners have less than 10 percent equity in their…...more
There are at least two types of real estate investors in Opportunity Zones, those that are drawn to a particular location for reasons that have little or nothing to do with the fact that the location is in an Opportunity Zone per se and those who are making strategic choices to invest in one Opportunity...more
The housing industry is buzzing with excitement over the prospect of massive investments in Opportunity Zones. New Opportunity Funds are emerging almost daily. Some investors are waiting until additional guidance is issued concerning the finer points of investing in Opportunity Zones, others are already mobilized. They are sifting through market data to identify target areas where...more
SP Group provided training and subject matter expertise on the new section 8 renewal guide as it relates to Rent Comparability Studies (RCS), Chapter 9. Summary of changes and the new chapter are included here. ...more
Over the past year, SP Group was engaged for assisting HUD/FHA with hundreds of loan closings for refinancing FHA loans under HUD’s Section 223(f) and 223(a)(7) programs. Based on our extensive experience, below are five tips that can make the closing process efficient and effective for all parties involved in the process. Tip 1 –...more
While majority of the neighborhoods across the nation have largely recovered from foreclosure crisis, the rising cost of living and owning a home continues to be a growing challenge. The Housing Affordability Index (HAI) measures whether a typical family earns enough income to qualify for a mortgage loan on a typical home at the national and regional...more
Today, SP Group’s Pratima Damani and Alyssa Spina released a white paper on an assessment of housing counseling needs in collaboration with Summit. During this assessment, we examine the type of housing counseling likely to be in demand during the next few years based on anticipated challenges affecting homeowners. This white paper presents our findings, focused...more
SP Group’s CEO, Pratima Damani recently attended the presentations at DATA Act Hackathon held at the Booz Allen Hamilton’s Innovation Center in Washington. At this event, one of the panelists from Treasury Department commented that “….tying together data points helps tell a clearer picture about the government. For example, the government gives out loans to help stimulate the economy....more
On June 1, SP Group attended the U.S. Department of Housing and Urban Development’s (HUD) forum on homeownership that kicked off National Homeownership Month. Ben Carson, HUD Secretary, in his opening remarks stated: “After all we’ve been through, homeownership remains an American value and the cornerstone of our economy. Today, we recognize the abiding value of owning a home,...more
Every month there are many articles and think pieces published regarding millennial spending habits and home buying. The articles encompass a wide range of ideas including commentary on perceived frivolous spending vis-à-vis avocado toast or the latest business negatively impacted by millennial spending habits. I am a millennial in the market to buy a home, and I see...more