Southern States Lead Delinquency Drops

first_img Tagged with: Delinquent Loans Home Loans housing market 2020 mortgage The Best Markets For Residential Property Investors 2 days ago Delinquent Loans Home Loans housing market 2020 mortgage 2020-02-20 Mike Albanese Share Save Home / Daily Dose / Southern States Lead Delinquency Drops Mortgage delinquencies fell to a new record low, and just 2 million homeowners are either past due on their mortgage loans or in some stage of foreclosure, according to the latest data from Black Knight. Black Knight released its record-breaking delinquency score Thursday in its First Look at January 2020 Mortgage Data, a precursor to its monthly Mortgage Monitor. Black Knight has been analyzing data since 2000. In that time, the national delinquency rate has never fallen as low as it did this January when it sunk to 3.22%. Delinquencies fell more than 5% month-to-month in January and are down 14.17% over the year. While loan delinquencies are on a downward trend, foreclosure starts rose in January by 8.35%. However, they are 14.74% down on an annual basis. The foreclosure rate charted a barely perceptible increase of just 0.41% over the month of January as 1,000 properties slipped into foreclosure. The national foreclosure rate now stands at 0.46% of all mortgage loans outstanding. Despite the slight increase in January, the rate is down 9.24% from a year ago.   The prepayment rate moved in the opposite direction, falling 15.33% over the month but up 112.97% over the year. The states with the highest percentage of non-current mortgage loans, including those that are delinquent as well as those in some stage of foreclosure, are Mississippi with a rate of 9.84%, Louisiana with 7.20%, Alabama with 6.26%, West Virginia with 6.10%, and Arkansas with 5.79%. Despite ranking highest in the nation for the percentage of non-current loans, these states all experienced a decline in non-current loans over the year. Colorado had the lowest rate of non-current loans with just 1.63% of loans past-due or in foreclosure. The state was followed by Washington (1.67%), Oregon (1.77%), Idaho (1.79%), and California (1.90%). Just as with the top-ranking states for non-current loans, all five of these states experienced declining rates of non-current loans over the past year. For all of these states, the change in the non-current loan rate was in the double-digits. The states with the highest percentage of severely delinquent loans—those 90 or more days past due—are Mississippi (3%), Louisiana (1.74%), Alabama (1.73%), Arkansas (1.61%), and Indiana (1.20%).  Krista Franks Brock is a professional writer and editor who has covered the mortgage banking and default servicing sectors since 2011. Previously, she served as managing editor of DS News and Southern Distinction, a regional lifestyle publication. Her work has appeared in a variety of print and online publications, including Consumers Digest, Dallas Style and Design, DS News and DSNews.com, MReport and theMReport.com. She holds degrees in journalism and art from the University of Georgia. in Daily Dose, Featured, Market Studies, News Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days agocenter_img Southern States Lead Delinquency Drops Servicers Navigate the Post-Pandemic World 2 days ago Subscribe The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago  Print This Post February 20, 2020 1,096 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Home Prices in Opportunity Zones Rising Quickly Next: Freddie Mac Transfers $9.1B in Risk Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Krista F. Brock Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Govt to expand social aid, incentives to boost household demand, economy

first_imgThe government is planning to expand its social aid program and incentives for micro, small and medium enterprises (MSMEs) in an effort to boost consumer spending and revive the sluggish economy in the second half of this year, as fears of a recession loom.Finance Minister Sri Mulyani Indrawati said on Wednesday the government would reallocate around Rp 70.8 trillion (US$4.85 billion) from existing ineffective stimulus packages to fund the social aid expansion and new incentives so that the government would not need to increase its COVID-19 response budget, already worth Rp 695.2 trillion.“This will include extending the social aid program period to December to cushion the impact of the COVID-19 pandemic,” she said during a livestreamed press conference. The government is preparing aid for workers with salaries lower than Rp 5 million per month and allocating an estimated budget of Rp 31.2 trillion for such aid.State-Owned Enterprises (SOEs) Minister Erick Thohir, who serves as executive chairperson for the national economic recovery and COVID-19 response team, further explained in a statement on Thursday that the aid for workers would be in the form of direct cash transfers.The aid would be focused on 13.8 million workers registered on the Workers Social Security Agency (BPJS Ketenagakerjaan) database who are not civil servants or SOEs employees.“The workers will receive Rp 600,000 per month for four months, disbursed directly to each worker’s bank account every two months to prevent misuse,” said Erick. “This program is currently being finalized so it can be carried out by the Manpower Ministry this September.”Sri Mulyani also said the government would offer electricity and tax incentives for businesses and industries as well as productive aid for ultra-micro and micro businesses to support the supply side and help businesses to reduce their production costs.The electricity incentive will be in the form of a minimum billing waiver for businesses, industries and social sectors while the tax incentive will take the form of 50 percent corporate income tax discount from the previous 30 percent cut.“We will also disburse aid to 12 million MSMEs with a total budget of Rp 30 trillion,” she said, stressing that the aid was meant for productive use and was not in the form of loans.The expansion, however, comes with a drawback as the government will reduce the amount of cash transfers for underprivileged families by half to only Rp 300,000 per month per family.The expansion in social stimulus would boost purchasing power and bolster household spending in the second half of the year, said Bahana Sekuritas economist Satria Sambijantoro, despite projecting that Indonesia’s economy would likely see another contraction in the third quarter.“The possible backload of stimulus could be a blessing in disguise for the economic outlook in the second half of 2020,” he wrote in a research note.The inclusion of low-income formal workers in the social aid program, along with the distribution of salary bonuses for civil servants and low-income formal workers, would cut through the red tape in budget disbursement, he said.“We think household spending growth will continue to surpass investment growth for the rest of 2020,” said Satria.SMERU Research Institute researcher Ruhmaniyati, however, frowned upon the idea of aiding formal workers with monthly fixed income as the government should help informal workers instead.“There are still a lot of families with an income of less than Rp 5 million a month that work in the informal sector and need the aid,” she told The Jakarta Post on Thursday.Institute for Development on Economics and Finance (Indef) executive director Tauhid Ahmad echoed the sentiment, saying the aid for low-income workers was mistargeted.“They are not poor. The aid could potentially sit in saving accounts as those workers hold back on spending,” he said. “This can create a detrimental effect on the economy and trigger a recession in the third quarter.”Topics : Indonesia’s gross domestic product (GDP) shrunk 5.32 percent year-on-year (yoy) in the second quarter as all components except for net exports fell annually as a result of the pandemic.Consumer spending, which accounts for more than half of GDP, fell 5.51 percent yoy in the second quarter, while investment, the second-largest contributor, contracted 8.61 percent.Sri Mulyani expects the economy to grow at no more than 0.5 percent, or even contract further, in the third quarter, which would mean a recession for Indonesia, while fourth-quarter GDP growth is projected to be near 3 percent, making for a full-year expansion of zero to 1 percent.Under the plan, the government will allocate Rp 4.6 trillion to increase the amount of rice for the 10 million recipients of the Family Hope Program (PKH) to 15 kilograms per month. It would also disburse Rp 500,000 to 10 million Staple Food Card recipients this month.last_img read more

Lampard seeking fresh challenge

first_img “All the brilliant team-mates who I have been lucky enough to train and play alongside for so long. Not just their football qualities but also the friendships I have gained along the way. “I’d also like to give a special mention to all the staff and people behind the scenes at the club who do not receive the glory but without them the club would simply not function. “The club will move forward, and as a Chelsea man I have no doubt that with the quality of the players that are there, they will continue with the success that we have all enjoyed over the past seasons.” Lampard joined the Blues in 2001 after six seasons at Upton Park and went on to make 648 appearances and become the club’s all-time top goalscorer with 211 in all competitions. During his time at Stamford Bridge, Lampard won the Champions League, the Europa League, three Premier League titles, four FA Cups and two League Cups. The England international formed a vital part of the spine of the team built by Jose Mourinho after the arrival of owner Abramovich alongside the likes of John Terry, Petr Cech and Didier Drogba. Drogba left the Blues in 2012 and, while Terry has penned a new deal after an impressive season, Cech’s place is likely to come under threat from the returning Thibaut Courtois. Left-back Ashley Cole has left the club after his contract ran out and Mourinho appears to be reshaping his squad after a third-placed finish in last season’s Barclays Premier League. Lampard went on to pay tribute to the Chelsea supporters, adding: “Finally and most importantly, I would like to thank the Chelsea fans. “I believe they are the greatest fans in world football. You have supported me from the moment I arrived. Not only on the pitch, but in difficult moments in my personal life off the pitch. I will never forget. “I feel honoured to have shared so many special times with you. Bolton, Amsterdam, Munich, the list goes on and on. I, and we as a team, could not have achieved those moments without your support. “Whatever the next challenge is for me I will always be amongst you and have Chelsea in my home and in my heart. Hopefully I will get to see you all soon to say goodbye properly. “In the meantime thank you for the memories and keep making history!” England goalkeeper Ben Foster, who like Milner is currently with Lampard at England’s pre-World Cup training camp in Miami, also paid a rich tribute. “Not only as a player, as a person as well he is so professional,” added Foster. “He always goes about his business very well. “He has been a great servant for the club – and not only the club but England as well. “He is a great guy and he’s somebody that as an England team we are very lucky to have amongst us.” Chelsea posted a lengthy tribute to the departing midfielder on their website on Monday evening, looking back on his achievements and hailing him as one of their finest players of all time. It concluded: “That Lampard has won more international caps while playing for Chelsea than anyone else in our history only strengthens the argument that he is one of the very greatest players to have represented the club. “Any Chelsea supporter who has had the good fortune to watch Super Frank Lampard in full flow will know we have never seen his like in our midfield before, and we will be very blessed to again see his equal.” Frank Lampard has confirmed he will seek a new challenge after returning from the World Cup in Brazil as he brings an end to his 13-year association with Chelsea. Fellow England midfielder James Milner said: “He’s not finished yet. He’s still got that quality and still has the goals, so I am sure he’ll have plenty of offers and he will choose what is right. “Players have ups and downs in their career, but every season he delivers and the example is set for the younger players coming in. “Since I’ve been in the England squad he’s been a top player, a top pro and that’s exactly what we need going into a major tournament.” Lampard gave no immediate indication as to what the future might hold, instead choosing to thank those who helped him make such a success of his Stamford Bridge career. Lampard said: “When I arrived at this fantastic club 13 years ago I would never have believed that I would be fortunate enough to play so many games and enjoy sharing in so much success. “This club has become part of my life and I have so many people to thank for the opportunity. Firstly, Ken Bates, who put his neck on the line to sign me as a young player and without him I would not have even begun this experience. “Roman Abramovich, the man who saved our club and took us all to new levels. His desire to push the club to the top of the football world has rubbed off on everyone. “All the managers and coaches who have helped me develop my game during the time I have been here. I have learnt from every one of them. The 35-year-old issued a statement on Monday evening in which he revealed he has played his last game for the Blues. Lampard has already been linked with a move to New York City FC but his England team-mates are convinced he still has a future at the highest level. Press Associationlast_img read more

USC Housing holds screening of VICE series

first_imgUSC Housing held a screening of the VICE documentary series in partnership with HBO in King Hall on Thursday. The agenda for the night included a viewing of two episodes and a special Q&A with Emmy-nominated VICE producer and correspondent Kaj Larsen, who appears in one of the episodes.The first episode featured a segment on the Nigerian Islamic extremist group, Boko Haram as well as a piece on genetic engineering. The second episode was dedicated to the controversial issue of assisted suicide.After the viewings, Alex Janin, a senior majoring in broadcast and digital journalism, led a discussion with Larsen, who appeared in the first episode as he covered the story of Boko Haram. Students had the opportunity to ask questions to Larsen, and many were intrigued not only by VICE’s direct approach to journalism but specifically Larsen’s personal stories, as he was so close to the devastation in Nigeria.Larsen specializes in covering stories in conflict areas including Liberia, Burma, Afghanistan and Columbia. He is known for getting up-close-and-personal with dangerous situations. He was the first journalist to be waterboarded on national television. Part of his affinity for these types of situations comes from his training and active duty as a Navy SEAL.“On just a sheer proximity to danger level, I think my time in the SEALs and my time deployed overseas doing missions in the global war on terror kind of gives me a different situational awareness in combat zones,” Larsen said.On top of a heightened sense of awareness, Larsen has been able use his military network to secure interviews that other journalists don’t have access to. Specifically, Larsen got into northern Nigeria when nobody else could by employing his knowledge of a squad of mercenaries operating there.“I have a series of relationships and a depth of understanding of military and of war and things like that, and so I think that also helps me get closer to the story,” Larsen said.Getting “closer to the story” is an understatement, as Larsen and his team were able to secure an interview with an active commander and deputy of Boko Haram. He described the mix of conflicting emotions as he interviewed two leaders in an organization considered by many to be even more dangerous than ISIS, a group responsible for killing thousands of people and kidnapping nearly 300 school girls.“I have a greater mission, and that’s to let the world know what’s happening and to provide insight, so I actually had to do my best to approach that interview from a place of no judgment and use it as an opportunity to learn and absorb information,” Larsen said. “So few people have ever sat down with Boko Haram that really it would be tragic to do anything other than to learn as much as possible about what motivates them, what they want and stuff like that.”VICE is a media company that was founded in the 1990s as a punk magazine with a youthful approach to content creation. Since then, it has expanded rapidly with a diverse multimedia platform, including a vibrant web community, an HBO series and, most recently, a television channel that is set to launch on Monday. According to Larsen, VICE is unique because of its commitment to getting close to the stories.“I think it’s sometimes really easy when we’re watching these stories to remove ourselves from what the journalists and what the reporters are actually doing, because the content is so shocking, but it’s so necessary for us to see,” Janin said after the screening.This event was part of a series of screenings hosted by USC Housing.last_img read more