How Mortgage Default Rates Are Trending Print This Post Tagged with: default The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Subscribe December 17, 2019 2,781 Views Previous: Low-End Rentals Propping Up Investment Growth Next: Wells Fargo Commits $10M to Philadelphia Home / Daily Dose / How Mortgage Default Rates Are Trending in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articles 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. Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Seth Welborn Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago default 2019-12-17 Seth Welborn The Week Ahead: Nearing the Forbearance Exit 2 days ago While first mortgage default stayed the same overall in November 2019, the most recent S&P/Experian Consumer Credit Default Indices revealed that 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%.The previous release from S&P/Experian Consumer Credit Default Indices saw default rates rise for first time mortgages rose for the third month in a row.Despite October’s rise in mortgage defaults, the indices shows that the composite rate was unchanged at 0.93%, as other forms of credit fell that month. The bank card default rate fell 44 basis points to 2.88%. The auto loan default rate was down two basis points to 1.03%, and the first mortgage default rate increased four basis points to 0.77%.In an effort to further reduce future defaults on FHA-insured mortgages, the Federal Housing Administration (FHA) has signaled that it may tighten credit, noting that the debt-to-income (DTI) ratio for FHA-insured loans has been consistently increasing for six years. In a new report, Urban Institute examined how important DTI ratios in predicting a borrower’s ability to make on-time mortgage payments, and how debt burden impacts ability to repay FHA mortgages.According to Urban, DTI ratios are much less significant predictors of loan performance than FICO scores and that many high-DTI loans have strong FICO scores. Additionally, Urban’s analysis found that higher-DTI loans do not always have higher serious delinquency rates, and 5.6% of loans with DTI ratios ranging from 0 to 35% have been seriously delinquent at 60 months of age, compared with 7.6% of loans with DTI ratios of 35–45. But for loans with DTI ratios greater than 50, the D90+ rate at 60 months is 6.9%, lower than those with DTI ratios of 35–45. Data Provider Black Knight to Acquire Top of Mind 2 days ago
Germaine Mason dies in accident Jamaican-born high jumper, Germaine Mason died early this morning following a motorcycle accident in Harbour View, Kingston.Mason, 34, was riding a CBR motorbike on the Florizel Glasspole Boulevard when he reportedly lost control of the bike and crashed. The accident occurred about 4:20 AM.Mason won a silver medal in the high jump for Great Britain at the 2008 Summer Olympics in Beijing, China.He holds the Jamaican high jump national record of 2.34 meters. While representing Jamaica, he won gold at the Junior Pan Am Games in 2000 and again in 2002, in San Juan, Puerto Rico and Bridgetown, Barbados respectively. At the World Junior Championships held in Chile in 2000, Mason won the silver medal in the high jump. He also won the high jump title at the Pan American Championships in 2003.Mason was a close friend of eight-time Olympic gold medalist Usain Bolt and former English Premier League and Reggae Boyz footballer, Ricardo Bibi’ Gardner, with whom he attended the Wolmer’s Boys School.At the time of his death, Mason operated a micro-financing business in Kingston.
National titleCollege football fans are likely happy with Michigan’s quick turnaround under Jim Harbaugh – simply because a good Wolverines team makes the sport more interesting. But apparently, a lot of them are actually starting to believe that UM can both reach this year’s College Football Playoff and – wait for it – win it all too.According to ESPN’s David Payne Purdum, the top five teams by number of bets to win the national title at the Las Vegas SuperBook are Michigan, Ohio State, LSU, Clemson and Alabama. That’s right – the Wolverines are getting the most bets to win it all.Of course – that’s a product of both hype and odds. As of February 1, Michigan was a 12-1 bet to win it all. Alabama was tops, at 6:1.Top 5 teams to win the college football national title by number of bets @LVSuperBook: 1. Michigan 2. Ohio St 3. LSU 4. Clemson 5. Alabama— David Payne Purdum (@DavidPurdum) May 20, 2016Oklahoma and Baylor are the teams with the best odds that aren’t part of the list, for what it’s worth.If Michigan does win it all, Las Vegas is going to have a rough night. We’ll find out.
Minister of Culture, Gender, Entertainment and Sport, Hon. Olivia Grange, is praising the various individuals and organisations that have come forward to lend their support to this year’s Workers’ Week and Labour Day activities.Labour Day is being observed on Wednesday, May 23 under the theme ‘Ramp it up…Fix it up’.Speaking at a recent JIS Think Tank, Ms. Grange highlighted the various partners, including the National Health Fund (NHF), National Education Trust (NET), Digicel, Tourism Enhancement Fund (TEF), China Harbour Engineering Company (CHEC) and Berger Paints Limited.She noted that the NHF has already committed $2.5 million towards the scope of works at the Cumberland Road Health Centre in St. Catherine, and additional funds will come from the Ministry of Health.Digicel has donated some $1 million towards the Ramps in Schools Project, which involves the construction of wheelchair ramps at public schools to facilitate greater access by persons with disabilities.“A number of companies have reached out to us, and we will be better able to say, at the end of the celebrations, the monetary contributions that we have received,” Ms. Grange indicated.At the same time, she is appealing for more companies to come on board.“We are in discussion with other public-sector entities who have indicated that they want to come on board, and as soon as we finalise those arrangements, we will be making the announcement,” she said.Meanwhile, the Minister urged Jamaicans to volunteer their time and resources towards the beautification of their communities and the national projects at the Cumberland Road Health Centre and the St Ann’s Bay Infant School in St Ann.“Labour Day and Worker’s week is about volunteerism,” she added.The Minister also thanked the many volunteers who, over the years “have put their heart and soul into making Labour Day and Workers’ Week a success”. Story Highlights Minister of Culture, Gender, Entertainment and Sport, Hon. Olivia Grange, is praising the various individuals and organisations that have come forward to lend their support to this year’s Workers’ Week and Labour Day activities. Labour Day is being observed on Wednesday, May 23 under the theme ‘Ramp it up…Fix it up’. Speaking at a recent JIS Think Tank, Ms. Grange highlighted the various partners, including the National Health Fund (NHF), National Education Trust (NET), Digicel, Tourism Enhancement Fund (TEF), China Harbour Engineering Company (CHEC) and Berger Paints Limited.
zoom National Iranian Tanker Company (NITC) has prepared its fleet to comply with the European Union’s (EU) shipping monitoring, reporting and verification (MRV) regulation, Tasnim news agency reported citing NITC.As informed, NITC was awarded MRV compliance certificate.The implementation of the EU MRV is fast approaching, mandating the monitoring, reporting and verification of the CO2 emissions from ships larger than 5,000 gross tons that call at ports in the EU region.The EU regulation entered into force on July 1, 2015 and it requires shipowners and operators to prepare a monitoring plan for each of their ships that falls under the scope of the regulation. The monitoring plan needs to be signed off by an independent verifier.Data collection takes place on a per voyage basis and starts on January 1, 2018. It will reoccur annually, from Jan 1 to Dec 31.According to Akbar Jabal-Ameli, NITC’s technical and operations director, cited by the agency, the company’s 41 tankers joined the scheme as part of its efforts to improve the environmental status of its fleet.The move is in line with NITC’s substantial comeback to the European ports following lifting of sanctions against Iran in January 2016.Earlier this year Mohammad Reza Shams Dolatabadi, NITC’s head of international affairs, said that NITC was looking into the acquisition of LNG tankers in the upcoming three to five years.According to Dolatabadi, the company is eager to renew its fleet and is working on a five-year plan that will include purchasing of new tonnage and dismantling of outdated vessels, but without a major change to the fleet’s capacity.World Maritime News Staff
Companies in this story: (TSX:RAY.A) MONTREAL — Stingray Group Inc. has dropped its takeover attempt of Music Choice.Montreal-based Stingray, which provides music and in-store media, had made the unsoliticited bid for the U.S. company in August last year.The offer was worth US$120 million.Music Choice produces music programming and music-related content for digital cable television, mobile phone and cable modem users.Stingray chief executive Eric Boyko says while the company continues to see benefits in a combination with Music Choice, it’s confident in its strategic direction.Stingray announced Monday a distribution agreement with Altice USA, which will bring 50 Stingray music audio channels and hundreds of music videos from its on-demand catalogue to Altice USA’s subscribers. The Canadian Press
UPDATE – The Amber Alert has been cancelled and the children have been located.FOX CREEK, A.B. – Alberta RCMP have issued an Amber Alert for three children that were taken early Saturday morning in Fox Creek.At 1:30 am this morning, 4-year-old Isabella Darnel, 3-year-old Elijah Darnel, 9-month-old Arlo Darnel, are believed to be abducted from their home in Fox Creek. All three children have blonde hair and blue eyes. Isabella Darnel is wearing a purple nighty with peach pyjama pants. It is believed that the three children were abducted by their mother Charmaine Darnel.Charmaine Darnel is five feet, 8 inches tall, 230 pounds, blonde hair, green eyes. They were last seen leaving a residence in Fox Creek driving a 2014, medium grey Dodge Ram pickup truck, Alberta licence plate B W Z 8 6 4 5. The vehicle was last seen leaving Fox Creek, heading south towards Edmonton.Photos have yet to be releasedPlease contact the RCMP at Fox Creek at 780-622-3740 or 9 1 1 if you have any information.
Kolkata: Kolkata Knight Riders’ impact player Andre Russell was forced to skip the practice session on Thursday, owing to a shoulder injury sustained while batting in the nets on Wednesday. KKR will take on Royal Challengers Bangalore in an IPL game on Friday and Russell’s possible absence could pave the way for Carlos Brathwaite’s inclusion in the playing XI. The Barbados all-rounder, who is KKR’s costliest pick of Rs 5 crore at the auctions, played only one match for KKR, against Delhi Capitals here that they lost by seven wickets. Also Read – Puducherry on top after 8-wkt win over ChandigarhFretting over Russell’s fitness, KKR skipper Karthik however did not rule out the Jamaican who has been a revelation with six explosive 40-plus scores on the trot. “He’s got a preliminary X ray yesterday and it’s not even be 24 hours. By tomorrow, we will a get much better idea as to how he feels,” Karthik said of Russell. It was during the fag end of the practice on Wednesday that Russell failed to negotiate a rising delivery from net bowler Minad Manjrekar and fell on the ground, writhing in pain. Also Read – Vijender’s next fight on Nov 22, opponent to be announced laterIt was the same left shoulder where Russell was hit by a Harshal Patel delivery during KKR’s match against Delhi Capitals at the Kotla. Russell had also suffered a wrist injury in their away match against Chennai as it remains to be seen whether the team will risk playing the Jamaican. KKR have suffered a hat-trick of losses as Karthik urged his batsmen and bowlers to buck up. “I’m not going to shy away from the fact that we can bat better a little better definitely and definitely bowl a little better.” Meanwhile, RCB top order batsman AB de Villiers also skipped the training, while skipper Virat Kohli took a few throw-downs from coach Gary Kirsten after a game of football. Rejuvenated by a World Cup call-up, Karthik would be eager to impress India captain Virat Kohli and also arrest the Kolkata Knight Riders’ three game losing streak, when they lock horns with Royal Challengers Bangalore in an Indian Premier League clash here on Friday. In their first-leg clash in Bengaluru, Russell made all the difference with a whirlwind 13-ball 48 to drag KKR out of the woods and guide them to a remarkable five-wicket win. While Russell’s availability is a big concern for the home side who have not won in their last three matches, and placed sixth in the points table, there would be no shortage of inspiration for 33-year-old Karthik. Kohli has his own problems as far as RCB is concerned with the team all but out of the competition if they lose on Friday. Rock-bottom in the table with just one win from eight matches, RCB just haven’t been in the groove this year. From the remaining six games, they would have to win all to give themselves any chance of a playoff berth. Kohli has also not led from the front, cutting a forlorn figure on the field more often than not and also failing to fire with the bat. The team’s main problem has been their bowling which has been poor to say the least, except for Yuzvendra Chahal. In KKR, they would face an opponent hungry to return to winning ways after losing back-to-back home games.
New Delhi: Former ICICI Bank CEO Chanda Kochhar’s brother-in-law Rajiv Kochhar moved a Delhi court Wednesday seeking cancellation of look out circular (LOC) against him in an alleged bank loan fraud and money laundering case registered against them.The court is likely to hear the application on Thursday. Chanda, her husband Deepak and Rajiv have been questioned by the Enforcement Directorate, which is probing the case under the Prevention of Money Laundering Act (PMLA). Rajiv has been questioned by the CBI as well in the same case in the past as well. He is the founder of Singapore-based Avista Advisory. Also Read – 2019 most peaceful festive season for J&K: Jitendra SinghRajiv was asked by CBI sleuths about the help he had extended to Videocon in relation to a loan from ICICI Bank, which was part of a Rs 400-billion credit given by a consortium of 20 banks to the group’s main promoter, Venugopal Dhoot. The searches were conducted at the premises of Chanda, her family and Dhoot in Mumbai and Aurangabad. ED registered a criminal case under the PMLA early this year against Chanda, Deepak, Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning Rs 1,875-crore loans by ICICI Bank to the corporate group. The action was based on an FIR registered by the CBI. Also Read – Personal life needs to be respected: Cong on reports of Rahul’s visit abroadCBI has named the three as also Dhoot’s companies — Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL) — in its case. The anti-corruption probe agency also named Supreme Energy, a company founded by Dhoot, and NuPower Renewables, a company controlled by Deepak, in the FIR. It has slapped sections of the Indian Penal Code related to criminal conspiracy, cheating and provisions of the Prevention of Corruption Act on all the accused. The CBI alleged that Dhoot had invested in Nupower through his firm Supreme Energy in a quid pro quo to loans cleared by ICICI Bank after Chanda took over as the CEO of the bank on May 1, 2009.
By by Abderrahim Boualy – CasablancaThe U.S. Department of State will hold the MEPI Student Leaders Alumni Professional Development Conference for the alumni of the 2013 program in Morocco. The conference will take place in Casablanca, Morocco from February 21-25, 2014. The MEPI program stands for Middle East Partnership Initiative. Student leaders from the Middle East and North Africa will attend the conference to increase professional skills and enrich leadership development in addition to exploring issues, challenges and strategies related to community projects and civil society with experts from a wide variety fields.Most importantly, the conference will be a great forum of exchanging, discussing, and exploring new ideas with future leaders.Future leaders will meet to discuss their service projects together with professionals. It will be chance for them to showcase their projects during a poster gallery session.Every year the US department of state organizes the reunion meeting for MEPI alumni’s in different countries. This year, Morocco will be the destination for the most active 2013 alumni to showcase their ideas and put their plans into action.MEPI offers assistance, training, and support to groups and individuals striving to create positive change in their societies. Every year since 2002, MEPI program train students from Middle East and North Africa and offers grants for their projects.February 21st will be the date when Middle East and North Africa future leaders are going to meet once again to share, discuss and talk about their leadership experiences after MEPI program. The development conference will be a chance for MEPI 2013 alumni to develop their thought, projects and leadership skills.Ashraf Bin Saeed Aden, 21 years old from Yemen, said, “MEPI program changed my vision about different aspects of life. I’m glad that I’m applying what I have learned from various classes, seminars and site visits to organizations in the US”, Ashraf added.Ashraf showed his excitement about the Casablanca MEPI reunion meeting saying, “I will meet with my second family and, as always, I’m expecting the best when we have the chance to be under the supervision of great coordinators and the US Department of State.”Subsequently, MEPI alumni have entered the implementation phase of their service projects. Thus, the conference will try to make plans into the reality. The conference is a tool to inspire and motivate future leaders how to positively contribute in their communities by taking actions.From the first week after MEPI adventure, future leaders started to count the days left to the reunion conference. In fact, they have been waiting for six months to meet each other again.Mutasem halawani, 22 years old from East Jerusalem also Georgetown university 2013 MEPI alumni said, “I learned that I have an impact on my society, and I can do a lot for it. I’m sure it would be breath having a reunion meeting with my old friends.”Karim Gabrial from Syria expressed that MEPI program was an opportunity to have a wider sense of responsibility and take significant roles in our community. “It was one of the most wonderful experiences in my life, knowing people from all over the Arab world were an honor for me,” Karim said.Belkhatir Djamila from Remchi, Tlemcen, Algeria, 21 years old said, “I gained a lot from the MEPI program including confidence, communication skills and higher abilities for tolerance.The experience was very overwhelming to the extent that at the end of it, I felt like a new person, changed for the good. It was truly unforgettable. My expectation would be to have as much skills as possible about how to manage a big community project and how to organize myself to do so.”Edited by Allison Kreamer© Morocco World News. All Rights Reserved. This material may not be published, rewritten or redistributed