Mar, 23
2023
Business, Free News Articles, Reports and Studies

Critical Defect Rate Reaches Report-High in Q3 2022, Per ACES Quality Management Mortgage QC Industry Trends Report

DENVER, Colo. -- ACES Quality Management® (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES Mortgage QC Industry Trends Report covering the third quarter (Q3) of 2022. The latest report analyzes post-closing quality control data derived from ACES Quality Management & Control® software.

Notable findings from the Q3 2022 report include the following:

* The overall critical defect rate increased 20.5% over Q2 2022, ending the quarter at 2.47% - a report high.

* Of the four major underwriting categories (Assets, Credit, Income/Employment and Liabilities), three saw moderate to significant increases in Q2 2022. Income/Employment remained the leading category of defects reported, despite continuing its multi-quarter trend of decline.

* A sub-category analysis of the Assets and Income/Employment categories uncovered troubling defect trends related to eligibility.

* Appraisal defects declined once again, now reflecting a multi-quarter trend.

* Purchase share dominated in Q3 2022, as expected given market conditions, while review share for FHA, USDA and VA loans increased.

* In a reversal of last quarter's findings, FHA defect share saw a moderate increase in Q3 2022, along with a slight defect increase in conventional loans. USDA and VA loan defects improved significantly last quarter.

"The overarching theme for this quarter's report is the effect of sharp declines in loan volume and interest rate volatility on lenders' operations. With purchase originations down nearly 20% quarter-over-quarter and close to 50% year-over-year, lenders are fighting to keep every potential piece of business that comes their way and, perhaps, becoming more aggressive in their borrower qualifications," said ACES Executive Vice President Nick Volpe. "Riding the line on eligibility provides little margin for error. Thus, lenders must continue emphasizing loan quality to ensure salability and long-term asset performance."

Findings for the Q3 2022 ACES Mortgage QC Industry Trends Report are based on post-closing quality control data derived from the ACES Quality Management and Control® benchmarking system and incorporate data from prior quarters and/or calendar years, where applicable. All reviews and defect data evaluated for the report were based on loan audits selected by lenders for full file reviews.

"In our last report, we mentioned employment and loan documentation as areas of concern. As layoffs have continued since Q2 2022, we're seeing the ripple effects of interest rate volatility and changing market conditions surface in other areas of the loan manufacturing process, particularly in eligibility," said ACES CEO Trevor Gauthier. "With ACES, lenders can not only identify these immediate areas of concern but also view their QC findings within a historical context to pinpoint trends and execute immediate corrective actions to protect the integrity of their origination pipeline."

Mortgage QC Industry Trends Reports are available for download, free of charge, at https://www.acesquality.com/resources/reports.

About ACES Quality Management:

ACES Quality Management is the leading provider of enterprise quality management and control software for the financial services industry. The nation's most prominent lenders, servicers and financial institutions rely on ACES Quality Management & Control® Software to improve audit throughput and quality while controlling costs, including:

* 60% of the top 50 independent mortgage lenders;

* 8 of the top 10 loan servicers;

* 11 of the top 30 banks; and

* 2 of the top 3 credit unions in the United States.

Unlike other quality control platforms, only ACES delivers Flexible Audit Technology, which gives independent mortgage lenders and financial institutions the ability to easily manage and customize ACES to meet their business needs without having to rely on IT or other outside resources. Using a customer-centric approach, ACES clients get responsive support and access to our experts to maximize their investment. For more information, visit www.acesquality.com or call 1-800-858-1598.

Related link: https://www.acesquality.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 21
2023
Business, Free News Articles, Real Estate, Reports and Studies

78.9% of metro Atlanta residential housing inventory is eligible for down payment assistance – offsetting price and interest rate impact for aspiring homeowners

ATLANTA, Ga. -- As metro Atlanta homebuyers encounter the challenging trifecta of sharply rising home prices, elevated interest rates and institutional investor depletion of starter home inventory, Down Payment Resource (DPR), the housing industry's leading technology for connecting home buyers with homebuyer assistance programs, released a comprehensive report on the 46 active metro Atlanta homebuyer assistance programs. DPR issued the report to raise community awareness about resources that can make homeownership attainable for more families.

Methodology:

DPR produced homebuyer assistance program findings by analyzing its DOWN PAYMENT RESOURCE(r) database for active programs in 11 metro Atlanta counties. The DOWN PAYMENT RESOURCE(r) database tracks the funding status, eligibility rules and benefits of all U.S. homebuyer assistance programs using data sourced from more than 1,200 housing finance agencies (HFAs), municipalities, nonprofits and other housing organizations. Homebuyer assistance programs of all types are tracked, including down payment and closing cost assistance, Mortgage Credit Certificates and affordable first mortgages. DPR's market impact findings were produced by cross-analyzing its program data with First Multiple Listing Service (FMLS)-provided listing data.

Homebuyer assistance program findings:

* 37 of the 46 active programs currently have funding. Program funding is subject to fluctuation throughout the year depending on the seasonality of program funding and secondary market conditions among other factors.

* At least three programs are targeted toward public servants including educators, military service members, firefighters, police officers and medical professionals.

* Only 18 of the 46 programs have a first-time homebuyer eligibility requirement.

* 33 of the programs are forgivable, provided that all program conditions, such as owner-occupancy, are met.

Market impact findings:

* 78.9% of listings are eligible for one or more homebuyer assistance programs.

* Assistance amounts range from $2,000 to $25,000.

* Assistance is available for homebuyers that earn as much as $152,000 per year to purchase homes that cost as much as $548,000, noting that income and price limits are subject to household size, property location and could be higher in certain targeted areas.

* Listings in the studied area are eligible for $14,341 in assistance on average.

"Many people have given up hope on buying a home in Atlanta because they do not know that homebuyer assistance programs are available to help," said Down Payment Resource founder and CEO Rob Chrane. "As a community, we need to raise awareness about affordable pathways to homeownership."

"As a long-time Atlanta resident and housing industry professional, watching the average Atlanta home price nearly double over five years as investors pillage starter home inventory has been gut-wrenching because it makes sustainable homeownership less accessible to those who need it most," said Chrane. "Homeownership is about far more than securing the deed to four walls and a roof; it is the primary avenue for building generational wealth and supports long-term financial stability."

Select homebuyer assistance programs available in Cherokee, Clayton, Cobb, DeKalb, Douglas, Fayette, Forsyth, Fulton, Gwinnett, Henry and Rockdale County are profiled at https://downpaymentresource.com/professional-resource/spotlight-on-atlanta-homebuyer-assistance-programs/.

Individuals can search for their homebuyer assistance program eligibility for free at https://downpaymentresource.com/are-you-eligible/.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With tool sets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 20
2023
Business, Construction and Building, Free News Articles, Manufacturing, Reports and Studies

Energy Industry Experts Weigh in On Latest Rystad Energy shale well study indicating potential answer for accelerated productivity declines

EAU CLAIRE, Wis. -- Rystad Energy, one of North America's most respected energy research firms, recently completed a second study of nearly 900 shale wells in the Permian basin in West Texas. The study compares wells completed using in-basin sand (IBS) with wells completed with northern white sand (NWS), says the Wisconsin Industrial Sand Association (WISA).

Although In-Basin Sand dominates the Permian Market, the study's results suggest that even in the short term, the majority of wells would deliver higher productivity using Northern White Sand.

The study, the second in a series, examines three years of historical data obtained from nearly 900 West Texas Permian Basin shale wells. The latest Rystad Study shows that in 85% of the cases studied, the short-term cash benefits of completing wells with IBS were negated within the first year or two, with the productivity divergence growing yearly.

Penny Aschenbrenner of Material Spec Labs, which specializes in sand testing, said, "The physical properties of IBS and NWS proppants provide a logical explanation for the difference in production."

Material Spec Labs uses API (American Petroleum Institute) testing methods to test frac sand for its customers.

"Our job is to test the sand for the physical properties the customer is paying for," says Aschenbrenner. She states, "The concept isn't new. It's sometimes difficult to conceptualize proppant properties and their functionality due to the foreign nature of micro measurements. But if we relate the problem to something we are familiar with, the answer is obvious."

Ashenbrenner was not surprised by the negative impact of IBS on the wells and questioned whether any technically capable engineer would be either, "The science is pretty simple," Ashenbrenner states, "the sand is exposed to extreme pressures and conditions in a well. It is easy to see that the lower-strength sand will crush and possibly clog a well much sooner than a higher-quality proppant. That's what you see in the lab, and it's highly probable that it's happening downhole."

NWS became widely used when the shale revolution began because of its high strength, high purity, and very round silica sand was used to prop open the fractures induced by the hydraulic fracturing process. Hydraulic fracturing uses water, sand, and chemicals to fracture shale rock deep beneath the earth's surface. Once the fracturing has occurred, the fluids are returned to the surface, and the sand remains to keep the fractures "propped" open, which is why the industry terms the sand: "proppant."

The Rystad study challenges the industry's most recent choices. Executives probably did the right thing at the right time for their stakeholders by adapting IBS. When oil and gas prices plummeted, producers had already spent their cash on growing production, with many outspending their cash flow by completing more wells than needed. This ultimately led to overproduction and caused prices to crash heading into the pandemic. By the time Covid hit, and prices crashed, many producers were running out of cash, perhaps staring down bankruptcy. Their only option was to reduce costs, and using IBS was an obvious, short-term solution.

IBS may have been a company-saving strategy, but its use carried an unforeseen long-term expense. As illustrated in the Rystad findings, decreased well productivity and longevity are now being felt by those companies, their shareholders, the mineral rights holders, and possibly, U.S. energy security in general. Despite the early indication that production would stay the same, according to the production data studied by Rystad, wells completed with IBS now reveal accelerated economic losses in the hundreds of thousands of dollars per well after only a few short years compared to wells completed with NWS. That spread only grows more significant as oil and gas prices increase.

Other explanations abound. Some industry CEO's are now blaming the rock quality itself for accelerating declines in the past few years. Others fall back on well proximity, sometimes called the "Parent/Child" effect. The Rystad Study supports the observation that switching to IBS is highly correlated with accelerating decline rates.

The Rystad study suggests serious consideration of the science, and a revisit to the proppant decision choices. Higher energy prices and demand, the ongoing interest in energy independence, and safety and environmental considerations mandate that oil and gas wells run optimally. Mineral rights holders, energy investors, landowners, and energy workers have significant vested economic interests.

More Information:

The Rystad Study can be found at https://wisconsinsand.org/wp-content/uploads/sites/77/2023/03/20220907-Rystad-Energy-WISA-Final-Report-Anonymous.pdf

Material Spec Labs can be reached at https://www.materialspeclabs.com/

About WISA:

Based in Eau Claire, Wis., The Wisconsin Industrial Sand Association is an organization formed to promote safe and environmentally responsible sand mining standards, promote a fact-based discussion, and create a positive dialogue among the industry, citizens, and government officials. Learn more: https://wisconsinsand.org/.

Image 72DPI: https://wisconsinsand.org/wp-content/uploads/sites/77/2023/03/NWS-IBS-BeforeAfter.jpg

Related link: https://wisconsinsand.org/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 09
2023
Business, Free News Articles, Product Launches, Reports and Studies

MMI Announces Launch of ‘Mortgage Industry Benchmarks’ Report

SALT LAKE CITY, Utah -- Mobility Market Intelligence (MMI), a leader in data intelligence and market insight tools for the mortgage and real estate industries, announced the launch of the "Mortgage Industry Benchmarks" report, a monthly newsletter compiling lender and loan officer (LO) production data and trends to facilitate peer-to-peer comparison. The report leverages the mortgage and real estate data that MMI aggregates, normalizes and delivers to clients, providing a high-level summary of the insights lenders and LOs need to evaluate their performance relative to their peers.

Lenders are categorized into three tiers based on their annual production:

* Prime ($5 billion and above);

* Capital ($500 million to $5 billion); and

* Select ($50 million to $500 million).

The report also provides insights into the percentage of month-over-month production growth/loss, average and median deal size, percent of purchase business, six-month trends for purchases versus refinances, and overall production trends covering the past six months.

LO production-based categories include:

* Unicorn (> $100 million annually);

* Diamond ($50-100 million);

* Platinum ($20-50 million);

* Gold ($10-20 million);

* Silver ($5-10 million); and

* Bronze ($2-5 million).

From here, LOs can compare their performance by production volume, deal size and percentage of purchase transactions. In addition, LOs and lenders can see the top five rising and falling states and the top 10 hottest counties in terms of production.

"In today's extremely competitive marketplace, lenders and LOs need to know where they stand relative to the market overall and against their peers," said MMI founder and CEO Ben Teerlink. "We launched the 'Mortgage Industry Benchmarks' report to help lenders and LOs put their performance into context relative to industry trends and arm them with the information they need to make strategic decisions. Organizations and individuals can use these reference points to evaluate internal LO performance, generate reports to upper management and self-scout internal company performance. The ways this data can be used is endless."

The "Mortgage Industry Benchmarks" report newsletter is free to all industry participants. Sign up for the "Mortgage Industry Benchmark" report newsletter here: https://pages.mmi.io/benchmark-newsletter-signup. In addition, MMI's Premier Enterprise customers have access to a custom dashboard hub where they can view and filter similar reports, graphs and data sets. Existing MMI customers should contact their account representative to learn more about the additional features available through the MMI platform and to gain access to these dashboards.

About MMI

Mobility Market Intelligence (MMI) is a market leader in data intelligence and market insight tools for the mortgage and real estate industries. Headquartered in Salt Lake City, the company's signature product, MMI, provides actionable intelligence for lenders, real estate agents, real estate brokerages, title companies and others in the real estate industry. MMI is currently used by more than 450 enterprise customers, including 20 of the top 25 lenders in the country. To learn more, visit https://mmi.io or contact sales@mmi.io.

Related link: https://mmi.io

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 09
2023
Business, Free News Articles, Manufacturing, Reports and Studies

New Industrial Manufacturing Downward Trend Continues With 110 Planned Capital Projects for February 2023

JACKSONVILLE BEACH, Fla. -- IMI SalesLeads announced today the February 2023 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 110 new projects in February as compared to 130 in January in the Industrial Manufacturing sector.

The following are selected highlights on new Industrial Manufacturing industry construction news.

- Industrial Manufacturing - By Project Type

Manufacturing/Production Facilities - 98 New Projects

Distribution and Industrial Warehouse - 71 New Projects

- Industrial Manufacturing - By Project Scope/Activity

New Construction - 34 New Projects

Expansion - 38 New Projects

Renovations/Equipment Upgrades - 41 New Projects

Plant Closings - 14 New Projects

- Industrial Manufacturing - By Project Location (Top 10 States)

California - 10

Ohio - 8

Indiana - 8

Michigan - 7

Texas - 7

Georgia - 6

North Carolina - 5

Tennessee - 5

Alabama - 4

New York - 4

LARGEST PLANNED PROJECT

During the month of February, our research team identified 12 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by Texas Instruments Inc., who is planning to invest $11 billion for the construction of a manufacturing facility in LEHI, UT. They are currently seeking approval for the project. Construction is expected to begin in Fall 2023, with completion slated for early 2026.

Top 10 Tracked Industrial Manufacturing Projects

KANSAS:

Defense contractor is planning to invest $2 billion for the construction of a 235,000 sf computer chip manufacturing facility in BURLINGTON, KS. They are currently seeking approval for the project.

COLORADO:

Semiconductor mfr. is planning to invest $880 million for the expansion of their manufacturing facility in COLORADO SPRINGS, CO. They have recently received approval for the project.

NEW YORK:

Wind turbine mfr. is planning to invest $500 million for the construction of a manufacturing facility in COEYMANS, NY. They are currently seeking approval for the project.

SOUTH CAROLINA:

Semiconductor mfr. is planning to invest $443 million for the renovation and equipment upgrades on a 300,000 sf manufacturing and office facility at 1800 Overview Dr. in ROCK HILL, SC. They have recently received approval for the project. They will relocate their headquarter operations upon completion in Fall 2023.

UTAH:

Consumer goods mfr. is planning to invest $400 million for the expansion of their paper product manufacturing facility in CORINNE, UT. They have recently received approval for the project.

GEORGIA:

Auto body parts mfr. is planning to invest $300 million for the construction of a manufacturing facility in RINCON, GA. They are currently seeking approval for the project. Completion is slated for 2025.

IOWA:

Industrial valve mfr. is planning to invest $75 million for a 36,000 sf expansion and equipment upgrades on their manufacturing facility in OSKALOOSA, IA. They have recently received approval for the project.

MINNESOTA:

Fluid control equipment mfr. is planning to invest $43 million for a 176,000 sf expansion of their manufacturing facility in ANOKA, MN. They are currently seeking approval for the project. Construction is expected to start in Summer 2023, with completion slated for late 2024.

NORTH CAROLINA:

EV charging station mfr. is planning to invest $41 million for the construction of a manufacturing facility in DURHAM, NC. They have recently received approval for the project.

TENNESSEE:

Water heater mfr. is planning to invest $30 million for the expansion of their manufacturing facility in LEBANON, TN. They are currently seeking approval for the project.

About IMI SalesLeads, Inc.

Since 1959, IMI SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at salesleadsinc.com.

Each month, our team provides hundreds of industrial reports within a variety of industries, including:

* Industrial Manufacturing

* Plastics

* Food and Beverage

* Metals

* Power Generation

* Pulp Paper and Wood

* Oil and Gas

* Mining and Aggregates

* Chemical

* Research and Development

* Distribution and Supply Chain

* Pipelines

* Pharmaceutical

* Misc. Industrial Buildings

* Waste Water Treatment

* Data Centers

LEARN MORE: https://www.salesleadsinc.com/industry/industrial-manufacturing/

Related link: https://www.salesleadsinc.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Mar, 08
2023
Business, Free News Articles, Reports and Studies

MCTlive! Lock Volume Indices: February 2023 Data

SAN DIEGO, Calif. -- Mortgage Capital Trading, Inc. (MCT®), the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single provider, is pleased to present the MCTlive! Lock Volume Indices for February 2023. MCT Data represents a balanced cross section of several hundred lenders among retail, correspondent, wholesale, and consumer direct channels. A broad-based view of the entire market provides a more accurate picture of mortgage originations versus indices that are influenced by mega lenders. The February MCTlive! Lock Volume Indices is broken out by transaction type: purchase, rate/term refinance, and cash out refinance.

February MCTlive! Lock Volume Indices show that after an uptick in January, lock volume decreased across the board for the month. Purchase lock activity was down 13% compared to January, rate/term refinance volume was 42%, and cash-out refinance volume was down 25%. Lock activity in total was down 15% versus January. The news may be disappointing, but as the Fed reaches its terminal fed funds rate for this cycle, we should see downward pressure on mortgage rates, which will only help increase origination activity. For added context, total lock activity is still down 54% from one year ago. That is mostly due to a drop off in refinance demand, as purchase lock activity sits 41% lower than at the same point last year. Rate and term refinance volume is down 86% from one year ago, and cash-out refinance volume is down 87% over that same period.

It is important to note that MCT's rate lock activity indices are based on actual dollar volume of locked loans, not number of applications. Especially in a tight purchase market, MCT believes its methodology (using actual loans locked vs. applications) is a more reliable metric. There is a higher likelihood of having multiple applications per funded loan, and prequals do not convert at as high of a rate in the current market as has historically been the case - especially when applications are counted at the early stage of entering a property address.

* Index values to end February as a percentage benchmarked to the start of the month

Category | Month-Over-Month Index Value Change

Total: -15.19%

Purchase: -13.51%

Rate/Term Refinance: -42.28%

Cash Out Refinance: -25.40%

* INDEX VALUE CHANGE YEAR-OVER-YEAR

Category | Year-Over-Year Index Value Change

Total: -53.71%

Purchase: -40.60%

Rate/Term Refinance: -85.70%

Cash Out Refinance: -87.04%

MCT will be publishing the MCTlive! Mortgage Lock Volume Indices monthly, intending the data to serve as an enduring informational tool for industry participants, analysts, and watchers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT)® has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT's offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world's first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive!®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, CA, Philadelphia, PA and Texas.

For more information, visit https://mct-trading.com/.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Feb, 09
2023
Business, Free News Articles, Manufacturing, Reports and Studies

New Industrial Manufacturing Planned Projects Drop 36% in January 2023 from Previous Month

JACKSONVILLE BEACH, Fla. -- IMI SalesLeads announced today the January 2023 results for the new planned capital project spending report for the Industrial Manufacturing industry. The Firm tracks North American planned industrial capital project activity; including facility expansions, new plant construction and significant equipment modernization projects. Research confirms 130 new projects in January as compared to 177 in December 2022 in the Industrial Manufacturing sector.

The following are selected highlights on new Industrial Manufacturing industry construction news.

* Industrial Manufacturing - By Project Type

Manufacturing/Production Facilities - 111 New Projects

Distribution and Industrial Warehouse - 69 New Projects

* Industrial Manufacturing - By Project Scope/Activity

New Construction - 36 New Projects

Expansion - 51 New Projects

Renovations/Equipment Upgrades - 53 New Projects

Plant Closings - 13 New Projects

* Industrial Manufacturing - By Project Location (Top 10 States)

Georgia - 10

New York - 14

Indiana - 8

Texas - 8

Wisconsin - 8

California - 7

Florida - 7

Michigan - 7

Alabama - 6

South Carolina - 6

* Largest Planned Project

During the month of January, our research team identified 14 new Industrial Manufacturing facility construction projects with an estimated value of $100 million or more.

The largest project is owned by General Motors, who is planning to invest $795 million for the renovation and equipment upgrades on their manufacturing facilities in FLINT, MI and BAY CITY, MI. They are currently seeking approval for the project.

* Top 10 Tracked Industrial Manufacturing Projects

TEXAS:

EV mfr. is planning to invest $770 million for the expansion of their manufacturing facility in AUSTIN, TX by 1.4 million sf. Construction will occur in four phases, with the completion of the first phase slated for early 2024.

WEST VIRGINIA:

Energy storage technology company is planning to invest $760 million for the construction of a battery manufacturing facility in WEIRTON, WV. They are currently seeking approval for the project. Completion is slated for 2024.

NUNAVUT:

Mining company is planning to invest $483 million for the construction of a processing facility in KITIKMEOT, NU. Construction is expected to begin in 2023, with completion slated for 2025.

NORTH CAROLINA:

Pharmaceutical company is planning to invest $450 million for the expansion of their processing facility in DURHAM, NC. They are currently seeking approval for the project. Completion is slated for 2027.

GEORGIA:

Specialty contractor is planning to invest $420 million for the construction of a manufacturing facility in LOCUST GROVE, GA. They are currently seeking approval for the project. Completion is slated for 2025.

TENNESSEE:

Automotive mfr. is planning to invest $250 million for the expansion of their manufacturing facility in DECHERD, TN. They are currently seeking approval for the project.

KENTUCKY:

Steel products mfr. is planning to invest $244 million for the expansion, renovation, and equipment upgrades on their manufacturing facility in GHENT, KY. They are currently seeking approval for the project.

GEORGIA:

Automotive component mfr. is planning to invest $205 million for the construction of a manufacturing facility at 4822 Hwy 301 S. in STATESBORO, GA. They have recently received approval for the project. Completion is slated for Fall 2024.

TENNESSEE:

Tire mfr. is planning to invest $174 million for a 600,000 sf expansion and equipment upgrades at their manufacturing and distribution facility in DAYTON, TN. They have recently received approval for the project.

INDIANA:

Material handling equipment mfr. is planning to invest $130 million for the construction of a manufacturing and office facility in NOBLESVILLE, IN. They have recently received approval for the project. They will relocate their headquarter operations upon completion.

About IMI SalesLeads, Inc.

Since 1959, IMI SalesLeads, based in Jacksonville, FL is a leader in delivering industrial capital project intelligence and prospecting services for sales and marketing teams to ensure a predictable and scalable pipeline. Our Industrial Market Intelligence, IMI identifies timely insights on companies planning significant capital investments such as new construction, expansion, relocation, equipment modernization and plant closings in industrial facilities. The Outsourced Prospecting Services, an extension to your sales team, is designed to drive growth with qualified meetings and appointments for your internal sales team. Visit us at https://www.salesleadsinc.com/.

* Industrial Manufacturing

* Plastics

* Food and Beverage

* Metals

* Power Generation

* Pulp Paper and Wood

* Oil and Gas

* Mining and Aggregates

* Chemical

* Research and Development

* Distribution and Supply Chain

* Pipelines

* Pharmaceutical

* Misc. Industrial Buildings

* Waste Water Treatment

* Data Centers

Learn more: https://www.salesleadsinc.com/industry/industrial-manufacturing/

Related link: https://www.salesleadsinc.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Feb, 03
2023
Business, Free News Articles, Reports and Studies

MCTlive! Lock Volume Indices: January 2023 Data

SAN DIEGO, Calif. -- Mortgage Capital Trading, Inc. (MCT®), the leader in capital markets software and services supporting more lenders with hedging and pipeline management solutions than any other single provider, is pleased to present the MCTlive! Lock Volume Indices for January 2023. MCT Data represents a balanced cross section of several hundred lenders among retail, correspondent, wholesale, and consumer direct channels. A broad-based view of the entire market provides a more accurate picture of mortgage originations versus indices that are influenced by mega lenders. The January MCTlive! Lock Volume Indices is broken out by transaction type: purchase, rate/term refinance, and cash out refinance.

January MCTlive! Lock Volume Indices show that lock volume increased across the board for the month. Purchase lock activity was up nearly 110% compared to December, rate/term refinance volume was up 124%, and cash-out refinance volume was up 93%. Lock activity in total was up 109% versus December. Though December lock activity is traditionally low, with many people focused on the holidays during the final week of the month, the lock figures for January clearly show some positive rate elasticity. As the Fed reaches its terminal fed funds rate for this cycle, we should see downward pressure on mortgage rates, which will only help increase origination activity. For added context, total lock activity is still down 54% from one year ago. That is mostly due to a drop off in refinance demand, as purchase lock activity sits 36% lower than at the same point last year. Rate and term refinance volume is down 84% from one year ago, and cash-out refinance volume is down 86% over that same period. Please note that, for the first time, MCT is including composite volume across lock type. Purchase locks accounted for 88% of total lock volume for the month, cash-out refinances comprised 8%, and rate/term refinances continue to display dismal volume, registering at 4% of total locks.

It is important to note that MCT's rate lock activity indices are based on actual dollar volume of locked loans, not number of applications. Especially in a tight purchase market, MCT believes its methodology (using actual loans locked vs. applications) is a more reliable metric. There is a higher likelihood of having multiple applications per funded loan, and prequals do not convert at as high of a rate in the current market as has historically been the case - especially when applications are counted at the early stage of entering a property address.

:: Index values to end January as a percentage benchmarked to the start of the month

Category | Month-Over-Month Index Value Change

Total: +108.99%

Purchase: +109.75%

Rate/Term Refinance: +109.75%

Cash Out Refinance: +92.60%

:: INDEX VALUE CHANGE YEAR-OVER-YEAR

Category | Year-Over-Year Index Value Change

Total: -53.85%

Purchase: -35.89%

Rate/Term Refinance: -83.86%

Cash Out Refinance: -86.48%

MCT will be publishing the MCTlive! Mortgage Lock Volume Indices monthly, intending the data to serve as an enduring informational tool for industry participants, analysts, and watchers.

About MCT:

Founded in 2001, Mortgage Capital Trading, Inc. (MCT)® has grown from a boutique mortgage pipeline hedging firm into the industry's leading provider of fully integrated capital markets services and technology. MCT's offerings include mortgage pipeline hedging, best execution loan sales, business intelligence and analytics, outsourced lock desk solutions, MSR valuation, hedging, and bulk sales, and the world's first, truly open marketplace for loan sales. MCT supports independent mortgage bankers, depositories, credit unions, warehouse lenders, and correspondent investors of all sizes within its award-winning digital platform, MCTlive!®. Headquartered in sunny San Diego, MCT also has offices in Healdsburg, Calif., Philadelphia, Pa. and Texas.

For more information, visit https://mct-trading.com/.

Related link: https://mct-trading.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jan, 26
2023
Business, Free News Articles, Real Estate, Reports and Studies

Down Payment Resource’s Q4 2022 Homeownership Program Index shows homebuyer assistance programs have increased in number for fifth consecutive quarter

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022. This marks the fifth consecutive quarter the number of homebuyer assistance programs has grown.

Methodology

Published quarterly, DPR's HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,200 program providers throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q4 2022 HPI examined a total of 2,351 homebuyer assistance programs that were active as of January 6, 2023. Key findings are as follows:

* The net number of homebuyer assistance programs is up. The total number of programs increased by 42 in Q4 2022. Among them were five nationwide or multi-state programs and seven statewide programs.

* Support for first-time homebuyers increased. The number of programs dedicated to supporting first-time homebuyers now totals 1,315, up from 1,291 in Q3 2022.

* Support for multifamily homebuyers increased. Programs that support multifamily homeownership saw a 5.5% increase over Q3 2022. These programs now make up 29.3% of all homebuyer assistance offerings.

"While economic roadblocks caused the percentage of programs actively receiving funding to decrease marginally in Q4, homebuyer assistance still saw steady growth in 2022," said DPR CEO Rob Chrane. "Until home prices and mortgage rates decline and the housing market recovers, down payment assistance will be a crucial source of financial support for homebuyers that lack the savings to cover an inflated down payment."

A more detailed analysis of the Q4 2022 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/homebuyer-assistance-offerings-increase-for-the-fifth-consecutive-quarter-in-q4-2022/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2023/01/HPI-state-by-state-data.Q42022.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

Jan, 26
2023
Business, Free News Articles, Real Estate, Reports and Studies

Down Payment Resource’s Q4 2022 Homeownership Program Index shows homebuyer assistance programs have increased in number for fifth consecutive quarter

ATLANTA, Ga. -- Down Payment Resource (DPR), the nationwide database for U.S. homebuyer assistance programs, today announced findings from its latest Homeownership Program Index (HPI). The firm's analysis of 2,351 homebuyer assistance programs in its DOWN PAYMENT RESOURCE® database revealed that the net number of homebuyer assistance programs increased by 1.82% from Q3 to Q4 2022. This marks the fifth consecutive quarter the number of homebuyer assistance programs has grown.

Methodology

Published quarterly, DPR's HPI surveys the funding status, eligibility rules and benefits of U.S. homebuyer assistance programs administered by state and local housing finance agencies, municipalities, nonprofits and other housing organizations. DPR communicates with over 1,200 program providers throughout the year to track and update the country's wide range of homeownership programs, including down payment and closing cost programs, Mortgage Credit Certificates and affordable first mortgages, in the DOWN PAYMENT RESOURCE® database.

Key Findings

The Q4 2022 HPI examined a total of 2,351 homebuyer assistance programs that were active as of January 6, 2023. Key findings are as follows:

* The net number of homebuyer assistance programs is up. The total number of programs increased by 42 in Q4 2022. Among them were five nationwide or multi-state programs and seven statewide programs.

* Support for first-time homebuyers increased. The number of programs dedicated to supporting first-time homebuyers now totals 1,315, up from 1,291 in Q3 2022.

* Support for multifamily homebuyers increased. Programs that support multifamily homeownership saw a 5.5% increase over Q3 2022. These programs now make up 29.3% of all homebuyer assistance offerings.

"While economic roadblocks caused the percentage of programs actively receiving funding to decrease marginally in Q4, homebuyer assistance still saw steady growth in 2022," said DPR CEO Rob Chrane. "Until home prices and mortgage rates decline and the housing market recovers, down payment assistance will be a crucial source of financial support for homebuyers that lack the savings to cover an inflated down payment."

A more detailed analysis of the Q4 2022 HPI findings, including infographics and examples of many of the programs described in this release, can be found on DPR's website at https://downpaymentresource.com/professional-resource/homebuyer-assistance-offerings-increase-for-the-fifth-consecutive-quarter-in-q4-2022/.

For a complete list of homebuyer assistance programs by state, visit https://downpaymentresource.com/wp-content/uploads/2023/01/HPI-state-by-state-data.Q42022.pdf.

About Down Payment Resource:

Down Payment Resource (DPR) is an award-winning technology provider helping the housing industry connect homebuyers with the homebuyer assistance they need. With toolsets tailored for real estate agents, multiple listing services and mortgage lenders, DPR's technology empowers housing professionals to make affordable home financing opportunities more accessible while growing business and forging referral partnerships. The only organization to track the details of every U.S. homebuyer assistance program, DPR frequently lends its expertise to nonprofits, housing finance agencies, policymakers, government-sponsored enterprises, think tanks and trade organizations seeking to improve housing affordability. Its technology is used by five of the top 10 retail mortgage lenders by volume, three of the four largest real estate listing websites and 500,000 real estate agents. For more information, visit https://downpaymentresource.com/.

Related link: https://www.downpaymentresource.com/

This news story was published by the Neotrope® News Network - all rights reserved. ID:NEO2022

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