DS News Webcast: Wednesday 8/10/2016

first_img Is Rise in Forbearance Volume Cause for Concern? 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Share Save Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Demand Propels Home Prices Upward 2 days ago Home / Featured / DS News Webcast: Wednesday 8/10/2016 Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily August 9, 2016 1,112 Views About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago 2016-08-09 Brian Honea Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Best Markets For Residential Property Investors 2 days ago  Print This Post DS News Webcast: Wednesday 8/10/2016 Previous: Freddie Mac Updates Home Possible Tool for Lenders Next: Let the Bidding Begin: Seventh Non-Performing Loan Sale Announced Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Metro areas that experienced more foreclosures during the housing bust have seen a larger increase in the share of single-family homes that are rented, according to a recent report from Zillow. The increase in the share of single-family homes that are rented has shown to be most prominent in the Southwest United States. Zillow states that a growing share of single-family homes are now being rented, and by extension, more of the country’s rental market is now composed of single-family homes.The report states that for much of the 1980s and 90s, the share of single-family homes that were rented hovered between 12 percent and 15 percent, with that share slightly decreasing during the housing boom years. Since the housing bust, though, the share has skyrocketed and has increased from 13.4 percent in early 2007 to 18.8 percent by early 2015. Similarly, for much of the 1980s and 90s single-family homes accounted for roughly one-quarter of the country’s rental market. The report states that in spring 2007, single-family homes were 30.5 percent of all rental units but by spring 2015, they were 36.5 percent of all rental units.Continuing an unfortunate trend for non-bank mortgage servicers in the second quarter of 2016, Walter Investment Management reported a net loss of $232 million for the three-month period ending June 30, 2016, according to the company’s Q2 2016 earnings report released Tuesday. One result of the losses for Walter Investment was a change in leadership. The company reported that they have hired an industry veteran as permanent CEO who is expected to start sometime during Q4. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago in Featured, Media, Webcastslast_img read more

European ocean energy market study hot off the press

first_imgDG MARE, a body responsible for the EU Commission’s policies on maritime affairs and fisheries, has published an ocean energy market study which outlines the financial needs of the ocean energy sector in the EU.The scope of the study, co-authored by WavEC Offshore Renewables and Italian business management consultants COGEA, was to estimate the financial needs of the ocean energy sector in the EU, identify potential financing gaps and possible financing solutions, and to analyse recommendations of the ocean energy roadmap in that context.Three scenarios have been developed –  analyzing situations where all projects in the pipeline are deployed and start at the proposed date, over those where projects are deployed, but some are delayed, to the final ‘plot’ where projects are delayed or cancelled.In an ‘optimistic’ scenario, and given the current level of political support – about 3.9GW of cumulative installed capacity are expected globally until 2030. The capacity falls to 2.8GW in a second scenario, and to just above 1.3GW in a ‘pessimistic’ scenario, according to the report.OpenHydro tidal turbine installation at EMEC test site (Photo: Mike Brookes Roper/EMEC)The study has also found that most of the financial resources injected in the sector come from private equity – with over 75% coming from private finance to reach over €6 billion invested to the sector so far on a global scale.Excluding tidal range, the report notes that the investments for the sector could amount to €9.4 billion in Europe until 2030, according to the optimistic prognosis, whereas the ‘worst-case scenario’ out of the three predicts €2.8 billion, tops.There is also the case where the ocean sector could garner €7 billion, it is affirmed in the report.The study has confirmed that there are several funding instruments at national and EU level for prototypes and demonstration projects.What is lacking, the report states, is a critical mass of finance to further develop the sector and scale it up to a fully commercial dimension.“Ocean energy projects are usually too capital-intensive for venture capitalists and too risky for private equity. By the same token, borrowing from banks is often too costly. As a result, private investment in the ocean energy sector often involves own financing. While on the one hand this shows a certain dynamicity and optimism in the sector, on the other it seriously limits the overall availability of resources,” the report reads.By using public money to leverage private capital, the funds proposed in the Ocean Energy Roadmap might accompany the industry until it reaches the desired level of maturity – however – the funds alone will most likely not be sufficient to reach the tipping point after which the sector can stand on its own feet, without strong and stable public support, according to the report.“The injection of public money via the funds will certainly lower the level of risk for private investors, but these will continue seeking investments based on projected returns. Hence, a form of revenue support is of paramount importance to accompany the funds and maximize their effectiveness.“It is thus highly recommended to take action towards the implementation of revenue support mechanisms, as much as possible consistent across Member States, so as to create certainty. Besides legislative and financial support, forward looking and determination are key,” the report advises.Revenue support essential, industry body agreesResponding to the report, Rémi Gruet – the CEO of the Brussels-based industry body for Europe’s ocean renewable energy Ocean Energy Europe – said:Rémi Gruet (Photo: Ocean Energy Europe)“This study puts figures on how great an economic opportunity ocean energy represents for Europe – €2.6 billion already invested in the EU with 75% coming from private companies; 3.9GW of projects by 2030, representing €9.4 billion of investments – just to name a few.“Crucially, those figures are calculated.”Commenting on the current level of political support in the EU, Gruet remarked: “The EU has been a great supporter of ocean energy in the last years, politically and financially.“Yet revenue support is essential for any emerging energy technology to make it to market.“It is now up to France and the UK to give the right signals to investors so that this opportunity can materialize in those countries and in Europe.”last_img read more