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Blog Entries by Matt Cannon

Credit Characteristics of Renters

Patterns In Risk Factors

Matt Cannon    |    Housing Trends

Rental Rate in the US

This blog was co-authored by John Wang.

Mortgage lenders have known for a long time that debt-to-income (DTI) and credit history (based on credit bureau data), among other factors, are critical for sound underwriting and managing credit risk on a mortgage portfolio. Similar analysis can be used to evaluate a prospective tenant’s likelihood of making the rent...

Home Equity Lines of Credit

End-of-Draw Performance Not as Bad as Feared

Matt Cannon    |    Mortgage Performance

One effect of the rapid increase in home prices from 2000 to 2006 was the increased use of home equity lines of credit (HELOCs) as a method for homeowners to extract equity from their properties. HELOCs consist of a “draw period” and a “post-draw period.”  At any time during the draw period, borrowers can borrow up to a specified credit limit, or pay part or all of...

Turning Words Into Data: Part II

Extracting Property Condition Information from Realtor Comments

Matt Cannon    |    Property Valuation

Although the volume of delinquent borrowers and distressed sales has declined since the height of the Great Recession, the incentive still exists among lenders to accurately value the stock of real estate-owned (REO) properties and properties sold at foreclosure auctions. In the case of distressed sales, a property’s condition can have a significant impact on the sale price. A...

Turning Words into Data

Determining Property Value from Public Listing Remarks

Matt Cannon    |    Property Valuation

Fig 1: Words having largest positive impact on price

Homebuyers and homeowners consider multiple factors when determining the value of a home.  Characteristics of the physical property such as the number of bedrooms, the size of the property and the number of bathrooms all have an impact on the property value.  Amenities such as granite counter tops and high-end appliances also impact the value, as does the neighborhood in which the...

National Property Tax Delinquency Declining

Matt Cannon    |    Mortgage Performance

Tax Payment Delinquency Rate on Mortgages over 2006-2014

Real estate taxes in the United States are assessed by various taxing authorities and are generally based on the value of the property, including the land. The taxes may include county, city, town, borough, school or a special assessment, such as a Municipal Utility District (MUD) tax. Different locations can have different types of property taxes. Homeowners with a mortgage typically pay...