Where Mortgage Defaults Persist

first_img Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post in Daily Dose, Featured, Foreclosure, News Tagged with: default Foreclosure January 2, 2020 2,611 Views default Foreclosure 2020-01-02 Seth Welborn Share Save Servicers Navigate the Post-Pandemic World 2 days ago Previous: A Look Back at Julian Castro’s HUD Tenure Next: Loan-to-Value Ratios, Credit Scores Rise in Q3 2019 November held some of the lowest foreclosure stats in a decade, according to Black Knight. Black Knight’s First Look at November 2019 foreclosure data revealed that November’s 33,500 foreclosure starts represented a 26% year-over-year decline, alongside the lowest monthly volume since 2000.Additionally, the national foreclosure rate fell by 3% month-over-month. While delinquencies rose seasonally, delinquency levels are still nearly 5% below last year’s level. Prepayment activity fell 19% from October’s six-year high due to both seasonal declines in home-sale-related prepays as well as higher interest rates impacting refinance incentive.High non-current loan volumes were concentrated in the South, according to Black Knight. By state, Mississippi holds the highest non-current percentage as of November at 10.44%, a 2.4% increase year-over-year. Behind Mississippi falls Louisiana, Alabama, West Virginia, and Arkansas, all with non-current percentages between 6.23% and 7.84%.At the other end of the scale, Colorado holds the lowest percentage of non-current loans, at 1.81%. Behind Colorado falls Washington (1.86%), Oregon (1.90%), Idaho (1.98%), and California (2.09%). Alaska is the most improved state, with delinquency rates dropping by 12.51% over the last six months.Additionally, the most recent S&P/Experian Consumer Credit Default Indices revealed that overall default increased year over year, from 0.64% in November 2018 to 0.77% in November 2019.Four of the five major metropolitan statistical areas showed higher default rates compared to the previous month. Miami showed the largest increase, up 22 basis points to 1.53%. The default rate for Los Angeles rose 12 basis points to 0.77%, while the rate for New York climbed seven basis points to 1.14%. The level for Dallas rose four basis points to 1.01%, while the rate for Chicago was three basis points lower at 1.14%.The composite default rate, composed of first mortgage, bank card, and auto loan defaults, rose one basis point in November 2019 from 0.93% to 0.94%, and up year over year from 0.83%. Related Articles Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. The Best Markets For Residential Property Investors 2 days ago Where Mortgage Defaults Persist Subscribe Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Where Mortgage Defaults Persistlast_img read more

Oxford pubs serve the most expensive pints outside of London

first_imgA pint costs more in Oxford pubs than anywhere else in the UK other than London, according to a new study.The average cost across Oxford for a pint is £4.57, second only to London’s £5.19.Carlisle was found to serve the cheapest pints, at an average price at £2.35 followed by Chelmsford at £2.60.The study, conducted by MoneyGuru, found that Edinburgh (£4.35), Bristol (£4.32) and Winchester (£4.30) also served some of the most expensive beer in the UK.A MoneyGuru spokesperson said: “Beer prices are a highly contentious issue in the UK with price hikes becoming more and more frequent.“At the end of 2017, the average pint of bitter rose above £3 for the first time in history, while lager now sits at £3.58.”The study also claimed that Dubai is the most expensive city for beer-drinkers in the world, with the average pint there setting them back £9, while at the other end of the scale, a pint costs just £1.17 in Prague.Last January, Oxford researcher Professor Robin Dunbar claimed that there are links between spending time at the pub and happiness.Dunbar said: “[My] study showed that frequenting a local pub can directly affect people’s social network size and how engaged they are with their local community, which in turn can affect how satisfied they feel in life”last_img read more

Four New Coronavirus Cases in Florida

first_imgThe Florida Department of Health on Saturday announced that the state has three new presumptive positive cases of the coronavirus, officially known as COVID-19.The new cases are in Manatee, Charlotte, Volusia, and Okaloosa counties.There are 17 confirmed cases of the virus in Florida, and two people have died from it. Another 278 individuals are being monitored for symptoms.Gov. Ron DeSantis directed the Florida Division of Emergency Management on Saturday morning to activate to Level II, in order to coordinate the state’s response and to provide critical support to the state’s Department of Health as well as county health departments.On Friday night, the Department of Health announced that a Lee County woman and a Santa Rosa County man had died from COVID-19.The contagion has also made its way to South Florida, with two presumptive cases in Broward County, which were announced Friday evening.This is a developing story.Gov. Ron DeSantis activates level II response to coronaviruslast_img read more

Vardy accepts FA charge

first_img Former BPL player wins appeal LONDON (AP): A British court overturned the rape conviction of former Premier League player Ched Evans yesterday and ordered a new trial. Evans, a former Sheffield United and Wales striker, was in the packed London courtroom with his girlfriend when the verdict was read out by the Court of Appeal. Evans was convicted in April 2012 of raping a 19-year-old woman at a hotel in Rhyl, north Wales. He was released from prison last year after serving half of his five-year sentence. The 27-year-old Evans had always maintained his innocence and took his case to the Criminal Cases Review Commission. Hodgson backs Vardy LONDON (AP): England coach Roy Hodgson backed Jamie Vardy on Wednesday, saying the Leicester striker did not dive in the incident that led to him being sent off last weekend and sympathising with his angry response to the referee. Hodgson’s employer, the English Football Association, charged Vardy with improper conduct over his reaction to the red card in Sunday’s 2-2 draw with West Ham. “I don’t see that as a dive,” Hodgson said. “I think he was unbalanced. I don’t think it was a penalty either, I think he was unbalanced, running at that speed. “I think there was a very slight sort of contact with the defender, who was trying to cover.” Vardy confronted referee Jon Moss, jabbing a finger at the match official while appearing to express his anger at receiving his first red card of the season. “I sympathise with him, I think he was very, very unlucky,” Hodgson said. “But now he has had to swallow the fact that he has been made to leave the field and then, unfortunately, he has reacted like sometimes human beings react. “He hasn’t just said to the ref, ‘Thanks very much, I understand’ and shakes hands and ‘Have a good game’. He has called him a few names, but he is a human being and that can happen.” Vardy seems certain to be in Hodgson’s plans for the European Championship in June and July after leading Leicester’s stunning pursuit of a first-ever top flight title. LEICESTER, England (AP): Leicester striker Jamie Vardy has accepted an English Football Association improper conduct charge over his reaction to being sent off against West Ham. Vardy’s standard one-match ban could now be lengthened, potentially hitting Leicester’s bid for a first Premier League title. The team is five points ahead of Tottenham with four games remaining. Vardy tangled with Angelo Ogbonna before going down in the penalty area early in the second half on Sunday. Vardy angrily confronted referee Jon Moss after receiving his first red card of the season. At the time, Leicester were leading through Vardy’s 22nd goal of the season and went on to draw 2-2. Leicester also tweeted that it accepted an FA charge of failing to control its players after West Ham was awarded a late penalty.last_img read more

Budget 2015: South Africa raises income tax

first_imgSouth African taxpayers will be paying more taxes on their personal incomes to help the government raise revenue.Citizens in the lowest income bracket – that is, those who earn less than R181 900 a year – will be spared from tax increases. (Image: The South African)Brand South Africa ReporterSouth African taxpayers will be paying more taxes on their personal incomes to help the government raise revenue, Finance Minister Nhlanhla Nene told Parliament during his 2015 Budget speech on Wednesday.Taxpayers will pay an extra percentage point more personal income tax to enable the government to raise an extra R12-billion this year, and another R15-billion in 2016.Download the Treasury’s People’s Guide to the Budget [PDF]The government will also increase fuel levies by 80.5c per litre from 1 April – 30.5c of this is an increase in the general fuel levy while 50c is for the Road Accident Fund.According to the National Treasury, South Africa’s fuel levies are comparatively low by international standards, and the recent decline in fuel prices creates space for an increase.Citizens in the lowest income bracket – that is, those who earn less than R181 900 a year – will be spared from tax increases.“Leaving aside other adjustments, the rate changes will result in individuals with an annual taxable income of R200 000 a year paying about R21 more in monthly taxes.“Those earning R500 000 will pay an extra R271 per month; and those earning R1.5 million will pay an extra R1 105 each month,” the National Treasury said.Nene said the tax proposals were aimed at increasing tax revenues, limiting the “erosion of the corporate tax base”, increasing incentives for small businesses, and promoting a greener economy.“However, tax brackets, rebates and medical-scheme contribution credits will be adjusted for inflation, as in previous years. The net effect is that there will be tax relief below about R450 000 a year, while those with higher incomes will pay more in tax.“In essence, government aims to narrow the budget deficit, stabilise debt and begin to rebuild the fiscal space,” he said.A combination of a lower expenditure ceiling and higher taxes will narrow the budget deficit to 2.5% of the Gross Domestic Product (GDP) by 2017/18, the National Treasury said.“The 2015 Budget tax proposals are expected to add R16.8 billion to revenue in the next year, before accounting for fiscal drag, and carry forward over subsequent years.”Closing the gapSA’s Treasury said the additional revenue would help to close the gap in the public finances over the medium term.Beyond that, several long-term policy objectives, including national health insurance and expanding the post-school education system, imply permanent spending increases that cannot be financed from existing levels of revenue.The department also said that South Africans needed to consider and debate the adjustments required to create room for these progressive spending policies.“The impact of any proposed measures on employment and the cost of labour, as well as the long-term growth of the economy, needs to be taken into account,” the National Treasury said.Electricity supplyNene also introduced several tax measures aimed at promoting energy efficiency and helping power utility Eskom keep a stable supply.Nene said he would introduce a temporary increase in the electricity levy, to 5.5c per kilowatt hour (kWh) from 3.5c/kWh, which would be withdrawn when the electricity shortage was over.“In the absence of a carbon tax, the electricity levy serves both to promote energy efficiency and encourage lower greenhouse gas emissions,” Nene said. A carbon tax would be introduced in 2016, he said.The government was also considering a levy on intensive consumers and exporters of electricity – those using in excess of 800 000 megawatt hours a year – in a bid to close gaps favouring them, the National Treasury said.Other Budget 2015 highlightsOver R640-billion will be allocated to basic education over the next three years, to be spent on teacher training, workbooks and infrastructure backlogs.Nene announced an additional R7.1-billion allocation to the Social Development vote to accommodate an increase in the number of beneficiaries and to protect the poorest households against poverty.The transfer duties for the sale of properties are to be adjusted. “The new rates eliminate transfer duty on properties below R750 000, while the rate on properties above R2.25-million will increase,” said Nene.A “more generous tax regime” is proposed for businesses with a turnover below R1- million a year. Qualifying businesses with a turnover of less than R335 000 a year will pay no tax. The maximum tax rate has also been reduced from 6% to 3%.Would you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more

‘I feel good when I help others and see them prosper’

first_imgThato Mokhothu named her company RTT Construction after her children, Refilwe, Tshiamo and Tshego. She is not only building a legacy in the business world but also in the lives of many women through her Phenomenal Women initiative.Thato Mokhothu runs Phenomenal Women, her non-profit organisation, without remuneration and says she enjoys seeing it grow. “It has helped me to feel good about myself by helping others and seeing them prosper.” (Image supplied)Melissa JavanBloemfontein businesswoman Thato Mokhothu believes that playing a part in the community helps to decrease stress and eases depression.The eldest of her siblings, she saw her mother become depressed following her parents divorce in 2000. Mokhothu had to become the family breadwinner for her siblings, according to the Vie by Envie online magazine.She dropped out of college and started waitressing. But Mokhothu was determined to improve her situation and went on to qualify for the National Home Builders Registration Council Women Empowerment Business Course offered through the Gordon Institute of Business Science.In 2014 she completed a Seda Enterprise Development Programme. Mokhothu also became part of the Cherie Blair Mentorship Programme.Working towards a bigger goalPhenomenal Women focuses on female and youth empowerment, says the founder of RTT Construction, named for her children, Refilwe, Tshiamo and Tshego.Mokhothu set up her non-profit organisation as a network that allowed women to share information and business opportunities. It has a Facebook group of more than 16,000 members.One of the ways Phenomenal Women empowers women and youth is by helping to connect them with possible new clients in other provinces. This allows members of the network to do business with other women in other provinces.“[Working towards making your community a better place] brings people from diverse backgrounds together to work towards a common goal,” says Mokhothu, a Play Your Part ambassador.Other Phenomenal Women initiatives include hosting finance workshops, mentorship opportunities and training in payroll, compliance advice and supplier diversity programmes. Members of the network also do various charity events, such as working with an orphanage in Heidedal, in the Free State.Mokhothu says: “I believe if the majority of people [are] involved in community work, we will be able to decrease poverty, the high rate of unemployment and assist with the economic challenges that affecting our country at the moment.“We cannot rely on the government alone to take care of the community.”Brand South Africa journalist Melissa Javan talked to Mokhothu.MJ: Where did you get the idea for the NPO?TM: I have always liked to help other people — when I was working for Absa I made sure that I shared available positions with friends and other people.I would also share available tenders, knowing very well that I would be applying for the same tender. In 2013, I started Phenomenal Women, but it was not registered as yet.I had a restaurant and allowed women to showcase their products at the restaurant at no cost. I started to host business workshops and invited key roleplayers such as the South African Revenue Services and the National Youth Development Agency to come to the event at the restaurant.I saw how everyone was benefiting from the workshops. People would, for instance, come to buy shoes and bags, and would also buy a plate and cold drink from me.There were other women’s associations before but they were not active in the Free State. I have been a member of some of them, but I never got to enjoy the benefits of joining.In 2014, I decided to re-launch Phenomenal Woman and register it and run it differently from other existing women’s associations. I also believe in leading by example, which has pushed me to work very hard.MJ: When did you become involved in community work and how have you made it part of your decision-making as a businesswoman?TM: From a young age my father taught me that I needed to give and help other people in order for me to be blessed or to receive more. That’s how I have lived my life.When I was in high school I was the chairperson of the TADA (Teenagers Against Drug Abuse), working together with the police. In my tertiary years, I took care of people with disabilities, visiting them and doing their hair.When I worked at Absa Home Loans, I was the chairperson of the Home Loans corporate social investment [programme] for the Free State. Our project was to renovate a school and turn it into a house of safety for children. It is still going, run by Christian Revival Church.I then adopted a children’s home in Heidedal, where I helped with things such as clothes and food. I celebrated my birthdays with the children and asked people to buy the children presents instead of buying me birthday gifts.In my company I empower other women and youth by giving them construction sub-contracting work. This is to help increase their Construction Industry Development Board levels because I know how difficult it is out there to get someone who will give you a chance in business.MJ: What are your Phenomenal Women highlights?TM: My highlights are the testimonies of women who have achieved their dream. One woman in particular started off as a member of Phenomenal Women and was inspired to follow her dream.She is currently demolishing 650 shacks used as day care centres in the Free State, and is offering them better structures with the help of Letsatsi Power Projects. These centres are also offered nutritious meals.MJ: How important are relationships for an entrepreneur and for someone who wants to make an impact in society?TM: I believe that every relationship is very important. If they know you and know your business ethics, they will listen to you and they will do business with you.When you need help in any corporate social investment projects, they gratefully assist you.MJ: Can you share tips on using social media to talk about what you are doing?TM: I use my social media pages to inspire people to get involved in community life. You need to be consistent. For example, I use social media to promote community involvement campaigns and collaborations.Branding is also very important and I have made sure that my page is full of positive quotes. I also share job opportunities and tenders.I get messages every day from different people who are inspired by my work and who would like to join me or start similar projects that I do in the community.Would you like to use this article in your publication or on your website? See Using Brand South Africa materiallast_img read more

Mbala: La Salle defense not as good as last year

first_imgBrace for potentially devastating typhoon approaching PH – NDRRMC Fire hits houses in Mandaluyong City Archers, Eagles favorites to win UAAP Season 80 PLAY LIST 02:36Archers, Eagles favorites to win UAAP Season 8001:46US defense chief agrees it’s time to take another look at defense pact with PH01:20US Defense chief Mark Esper visits Manila American Cemetery for wreath-laying ceremony01:37Protesters burn down Iran consulate in Najaf01:47Panelo casts doubts on Robredo’s drug war ‘discoveries’01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games Frontrow holds fun run to raise funds for young cancer patients  Well, Ben Mbala is not the one to forget and he knows this version of the Green Archers is far different from the unit that won the title a year ago.“I say defense, we’re not the defensive-minded team we used to be last year and that’s something we need to change,” said Mbala Sunday at Mall of Asia Arena after La Salle lost to arch rival Ateneo, 76-75.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutoutREAD: Ateneo sweeps first round, outlasts La SalleLa Salle’s loss to Ateneo saw it slip to 5-2, a respectable record but a far cry considering how powerful the Green Archers were last year. Read Next Pons lifts FEU over Adamson for PVL Finals berth For the complete collegiate sports coverage including scores, schedules and stories, visit Inquirer Varsity. “It’s only the first round, we still have a lot of time to work on our game, our team chemistry especially on defense,” said Mbala, who had 18 points and 13 rebounds against the Blue Eagles. “I’m sure coach (Aldin Ayo) and all of us players will be able to work on that.” Don’t miss out on the latest news and information. Nonong Araneta re-elected as PFF presidentcenter_img BSP sees higher prices in November, but expects stronger peso, low rice costs to put up fight Kammuri turning to super typhoon less likely but possible — Pagasa Photo by Tristan Tamayo/INQUIRER.netOh how the mighty have fallen.With De La Salle’s recent slippage in the UAAP Season 80 men’s basketball tournament, one may be forgiven that he forgot how dominant the Green Archers back in Season 79.ADVERTISEMENT MOST READ LATEST STORIES LOOK: Loisa Andalio, Ronnie Alonte unwind in Amanpulo for 3rd anniversary Typhoon Kammuri accelerates, gains strength en route to PH The Green Archers waylaid opponents in the first round of Season 79 holding them down to an average of 73 points a game while scoring 88.4 to end up with a 7-0 record.Those numbers, however, are not even close from what La Salle put up in the first seven games this season.The defending champions may be scoring more this year, averaging 96.9 points a game, but they also allow their opponents to score way more compared to last season as their points allowed skyrocketed to 90.3 points per outing.La Salle outscored opponents by 18.4 points a game in the first round of Season 79 but Season 80 saw the Green Archers take wins by an average of just 6.6 points.Mbala hopes the Archers can change their fortunes in the second half of the tournament, a stage where the Final Four picture starts to take shape.ADVERTISEMENT View commentslast_img read more

Dwight Howard fined $35,000 for obscene gesture in Cleveland

first_imgRead Next Trending Articles PLAY LIST 00:50Trending Articles00:50Trending Articles01:55Cops raid Manila office of Bayan, nab 3 activists for guns, explosive01:29Police teams find crossbows, bows in HK university01:35Panelo suggests discounted SEA Games tickets for students02:49Robredo: True leaders perform well despite having ‘uninspiring’ boss02:42PH underwater hockey team aims to make waves in SEA Games01:44Philippines marks anniversary of massacre with calls for justice01:19Fire erupts in Barangay Tatalon in Quezon City MOST READ Japan almost beats France, draw 23-23 in Paris Typhoon Kammuri accelerates, gains strength en route to PH Howard made the gesture in the second quarter of the Hornets’ 100-99 loss to the Cavaliers on Friday night. He was captured on video mimicking a sexual act.Howard is a 14-year veteran and eight-time All-Star. The 6-foot-11 center is averaging 15.5 points and 12.9 rebounds in 18 games this season.FEATURED STORIESSPORTSWATCH: Drones light up sky in final leg of SEA Games torch runSPORTSSEA Games: Philippines picks up 1st win in men’s water poloSPORTSMalditas save PH from shutout Stronger peso trims PH debt value to P7.9 trillion View comments LATEST STORIES CPP denies ‘Ka Diego’ arrest caused ‘mass panic’ among S. Tagalog NPA QC cops nab robbery gang leader, cohort Kris Aquino ‘pretty chill about becoming irrelevant’ Cleveland Cavaliers’ LeBron James (23) tries to break free of Charlotte Hornets’ Dwight Howard (12) during the first half of an NBA basketball game in Charlotte, N.C., Wednesday, Nov. 15, 2017. (AP Photo/Chuck Burton)NEW YORK — Dwight Howard of the Charlotte Hornets has been fined $35,000 for making an obscene gesture toward Cleveland fans.The NBA announced the fine on Saturday.ADVERTISEMENT Kammuri turning to super typhoon less likely but possible — Pagasa Brace for potentially devastating typhoon approaching PH – NDRRMC Don’t miss out on the latest news and information. Japan ex-PM Nakasone who boosted ties with US dies at 101last_img read more

Ireland squad

first_imgIreland will have a tough outing against the big teams but skipper William Porterfield can take heart from the fact that there are teams they can beat in this World Cup.Skipper William Porterfield is a compact left-hand batsman, who has five ODI hundreds to his credit. He can bowl a bit when required. Kevin O’Brien and Niall O’Brien and Boyd Rankin are the other names to watch out for in the Irish squad.Squad: William Porterfield (captain), Andre Botha, Alex Cusack, Niall O’Brien (wk), Kevin O’Brien, George Dockrell, Trent Johnston, Nigel Jones, John Mooney, Boyd Rankin, Paul Stirling, Albert van der Merwe, Gary Wilson (wk), Andrew White, Ed Joyce.last_img read more

Revealed: Aamir Khan’s look in Dhoom: 3

first_imgHaving sported a moustache in Mangal Pandey and a beefed-up look in Ghajini, actor Aamir Khan is again experimenting with his looks in Dhoom: 3 where he is likely to appear lean.Aamir Khan, who is all charged up for Aditya Chopra’s Dhoom: 3 in which he will be seen as a baddie, appeared at a media conference today in a lean avatar, sporting a stud.On being asked if this is the look for Dhoom: 3, Aamir said, “I have started shooting for Dhoom: 3. Almost…this is what it will be like (look) except the clothes that I am wearing now. I will have to do a lot more.”Dhoom series revolves around daring theft plans, handsome thieves and bike chases.After the success of Dhoom (2004) and Dhoom: 2 (2006) there is already a buzz about the third instalment of the film.Abhishek Bachchan and Uday Chopra will continue to reprise their roles as Jai and Ali, respectively, while Aamir Khan will be seen in a negative role, opposite Katrina Kaif.Directed by Victor Acharya, Dhoom: 3 is slated to release next year.last_img read more