Websites get hacked all the time. Most of the time it is due to outdated software or inadequate security measures. This infographic from Digital Meal takes a look at simple ways you can protect your site against malware infection:
Irvine, CA – April 7th, 2020 (BUSINESS WIRE) CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for February 2020, which shows home prices rose both year over year and month over month. Home prices increased nationally by 4.1% from February 2019. On a month-over-month basis, prices increased by 0.6% in February 2020. (January 2020 data was revised. Revisions with public records data are standard, and to ensure accuracy, CoreLogic incorporates the newly released public data to provide updated results each month.)“The nearly 10-year-old recovery of the U.S. housing market has run headlong into the panic and uncertainty from the global COVID-19 pandemic”Tweet this
The CoreLogic HPI Forecast projects U.S. home prices to increase by 0.5% from February 2020 to March 2020. Homes that settle during March will largely reflect purchase contracts that were signed in January and February, before the coronavirus (COVID-19) outbreak. The CoreLogic HPI Forecast is a projection of home prices calculated using the CoreLogic HPI and other economic variables. (The HPI Forecast for February was produced with projections for economic variables available prior to mid-March and does not incorporate subsequent deterioration in the economy.)
“Before the onset of the pandemic, the quickening of home price growth during the first two months of 2020 highlighted the strength of purchase activity,” said Dr. Frank Nothaft, chief economist at CoreLogic. “In February, the national unemployment rate matched a 50-year low, mortgage rates fell to the lowest level in more than three years and for-sale inventory remained lean, all contributing to the pickup in value growth.”
According to the CoreLogic Market Condition Indicators (MCI), an analysis of housing values in the country’s 100 largest metropolitan areas based on housing stock, 33% of metropolitan areas have an overvalued housing market, 38% were at value and 29% were undervalued as of February 2020. The MCI analysis categorizes home prices in individual markets as undervalued, at value or overvalued, by comparing home prices to their long-run, sustainable levels, which are supported by local market fundamentals such as disposable income. The MCI analysis defines an overvalued housing market as one in which home prices are at least 10% above the long-term, sustainable level. An undervalued housing market is one in which home prices are at least 10% below the sustainable level.
CoreLogic has been monitoring shifts in the housing market and economy in light of COVID-19. An analysis of mortgage demand revealed that home-purchase applications increased in January through the end of February as prospective buyers capitalized on record-low interest rates. However, purchase activity slowed in the latter half of March as unemployment began to rise and local shelter-in-place directives led to cancellations of open houses.
“The nearly 10-year-old recovery of the U.S. housing market has run headlong into the panic and uncertainty from the global COVID-19 pandemic,” said Frank Martell, president and CEO of CoreLogic. “In terms of home value trends, we are in uncharted territory as we battle the outbreak with measures that are generating a never-before-seen, rapid downshift in economic activity and employment. We expect that many homeowners will initially be somewhat cushioned by government programs, ultra-low interest rates or have adequate reserves to weather the storm. Over the second half of the year, we predict unemployment and other factors will become more pronounced, which will apply additional pressure on housing activity in the medium term.”
The next CoreLogic HPI press release, featuring March 2020 data, will be issued on Tuesday, May 5, 2020, at 8:00 a.m. ET.
Methodology
The CoreLogic HPI™ is built on industry-leading public record, servicing and securities real-estate databases and incorporates more than 40 years of repeat-sales transactions for analyzing home price trends. Generally released on the first Tuesday of each month with an average five-week lag, the CoreLogic HPI is designed to provide an early indication of home price trends by market segment and for the “Single-Family Combined” tier, representing the most comprehensive set of properties, including all sales for single-family attached and single-family detached properties. The indices are fully revised with each release and employ techniques to signal turning points sooner. The CoreLogic HPI provides measures for multiple market segments, referred to as tiers, based on property type, price, time between sales, loan type (conforming vs. non-conforming) and distressed sales. Broad national coverage is available from the national level down to ZIP Code, including non-disclosure states.
CoreLogic HPI Forecasts™ are based on a two-stage, error-correction econometric model that combines the equilibrium home price—as a function of real disposable income per capita—with short-run fluctuations caused by market momentum, mean-reversion, and exogenous economic shocks like changes in the unemployment rate. The U.S. forecast is calculated from state-level forecasts by weighting indices according to the number of owner-occupied households for each state. With a 30-year forecast horizon, CoreLogic HPI Forecasts project CoreLogic HPI levels for two tiers — “Single-Family Combined” (both attached and detached) and “Single-Family Combined Excluding Distressed Sales.” As a companion to the CoreLogic HPI Forecasts, Stress-Testing Scenarios align with Comprehensive Capital Analysis and Review (CCAR) national scenarios to project five years of home prices under baseline, adverse and severely adverse scenarios at state, metropolitan areas and ZIP Code levels. The forecast accuracy represents a 95% statistical confidence interval with a +/- 2% margin of error for the index.
Source: CoreLogic
The data provided are for use only by the primary recipient or the primary recipient’s publication or broadcast. This data may not be resold, republished or licensed to any other source, including publications and sources owned by the primary recipient’s parent company without prior written permission from CoreLogic. Any CoreLogic data used for publication or broadcast, in whole or in part, must be sourced as coming from CoreLogic, a data and analytics company. For use with broadcast or web content, the citation must directly accompany first reference of the data. If the data are illustrated with maps, charts, graphs or other visual elements, the CoreLogic logo must be included on screen or website. For questions, analysis or interpretation of the data, contact Allyse Sanchez at corelogic@ink-co.com. Data provided may not be modified without the prior written permission of CoreLogic. Do not use the data in any unlawful manner. The data are compiled from public records, contributory databases and proprietary analytics, and its accuracy is dependent upon these sources.
About CoreLogic
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, acquire and protect their homes. For more information, please visit www.corelogic.com.
CORELOGIC, the CoreLogic logo, CoreLogic HPI and CoreLogic HPI Forecast are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.
Media Contacts:
Allyse Sanchez
INK Communications
925-548-2535
newsmedia@corelogic.com
Presidents’ Council on Impact Investing asks regulators to “immediately suspend efforts that could severely undermine the CRA and rob communities of desperately needed support”
New York, NY – April 2, 2020 (PRNewswire) Leaders from the philanthropic and impact investing community joined together today to publish a letter calling on regulators to indefinitely delay the rulemaking process for the Community Reinvestment Act (CRA), especially given the coronavirus pandemic’s disproportionate impact on the low- and moderate-income neighborhoods that the CRA is designed to serve.
The Presidents’ Council on Impact Investing, a philanthropic leadership group facilitated by the U.S. Impact Investing Alliance with more than $80 billion in combined assets, argues that the “Proposal to Modernize Community Reinvestment Act Rules” released earlier this year by the OCC and FDIC would result in less lending and investments in low-income communities and reduce accountability to these communities, effectively gutting the CRA of its core purpose.
The CRA was introduced in 1977 to counteract the effects of systemic racism in the financial services system. It specifically responded to the legacy of redlining, which was a deliberate endeavor to deprive communities of color from access to home loans or lines of credit. By requiring banks to invest equitably in every community they serve, the CRA has successfully mobilized more than $6 trillion of investments since its passage in the form of community development loans, investments and other services targeted at low-income communities and communities of color.
Despite this important progress, many Americans still lack access to affordable housing. As of 2018, the U.S. faces of a shortage of at least 7.2 million affordable housing units, according to the National Low Income Housing Coalition. This number is likely only to increase in the weeks and months ahead due to the economic turmoil caused by the global COVID-19 outbreak.
In the letter, the Presidents’ Council writes:
The COVID-19 pandemic and the threat of a prolonged recession or even depression will inflict long-lasting damage on our most vulnerable communities, even in a best-case scenario where we can restrain the virus’ spread. Leaders and institutions are rightfully looking to marshal every available resource to aid our collective response. We must move decisively to keep people in their homes, protect the well-being of those most vulnerable, and prepare businesses to reopen when possible. It is in this context that we are calling for the immediate suspension of efforts that could severely undermine the Community Reinvestment Act (CRA) and rob communities of desperately needed support.
Darren Walker, President of the Ford Foundation and Co-Chair of the Presidents’ Council on Impact Investing: “While governments everywhere attempt to manage the health and economic ramifications of this pandemic, we have a moral responsibility to protect communities most at risk. The Community Reinvestment Act (CRA) is a vital piece of legislation that holds banks accountable to the financial needs of the communities they serve. These proposed regulations threaten the core purpose of the CRA, and regulators must pause the rulemaking process so communities and banks can rely on a strong, existing framework during this time of instability.”
Fran Seegull, Executive Director of the U.S. Impact Investing Alliance: “The Community Reinvestment Act is one of the most important tools we have to craft a successful and equitable recovery from our current crisis. CRA regulators recognized as much when they provided temporary clarifications that allow CRA capital to be deployed for emergency response. That was a laudable step, but now is not the time to cast doubt on the availability of these resources by overhauling the entire system. Regulators should remain focused on the urgent needs of these communities and prioritize what it takes to encourage continued community development and community investment.”
The deadline to submit public comment letters to the OCC/FDIC is April 8. To see the full text of the letter submitted by the Presidents’ Council on Impact Investing, please go to: http://impinvalliance.org/news-updates/presidents-council-letter-cra
About the Presidents’ Council on Impact Investing
The Presidents’ Council on Impact Investing comprises the heads of 19 leading U.S. foundations with a shared commitment to practicing and promoting impact investing. Together, they hold more than $80 billion in combined assets. The Presidents’ Council is co-chaired by Darren Walker, President of the Ford Foundation, and Mike Chen, President of the Surdna Foundation. The U.S. Impact Investing Alliance convenes the Presidents’ Council regularly to pursue shared learning, deepen commitments to impact investing and foster opportunities to pool investment and grant capital to catalyze the field. For more information, please visit www.impinvalliance.org/partners.
About the U.S. Impact Investing Alliance
The U.S. Impact Investing Alliance (“Alliance”) is a field building organization committed to raising awareness of impact investing in the United States, fostering deployment of impact capital and working with stakeholders, including government, to help build the impact investing ecosystem. The Alliance seeks to lift up the thousands of individual and institutional investors committed to achieving measurable social and environmental impact alongside financial performance. For more information, please visit www.impinvalliance.org.
Media Contact
17 Communications
Dmitriy Ioselevich
dmitriy@17c.org