Vermont still better than most, but 7 million distressed mortgages drag on US

first_imgThe Mortgage Monitor report released by Lender Processing Services, Inc. (NYSE: LPS), a leading provider of mortgage performance data and analytics, indicates that signs of stabilization in the nation’s home loan delinquency and foreclosure rates remain largely neutralized by the more than 7 million loans in distress.According to the Mortgage Monitor report, the number of loans 90 or more days delinquent (including pre-sale foreclosure) declined 112,184 from 4,186,627 to 4,074,443 between March and April, with the total number of non-current U.S. loans plus REO (Real Estate Owned by banks, etc) just over 7.3 million (extrapolated to represent total mortgage market).Conversely, deterioration ratios remain high, with two loans rolling to a “worse” status for every one loan that has improved and the overall volume of loans moving from delinquent to current status declined to a three-month low supported primarily by “artificial cures” associated with HAMP modifications. In addition, newly delinquent loans (current at year-end and 60 or more days delinquent as of April) have declined from the 2009 levels but still remain extremely high from a historical perspective, particularly within prime product.Other key results from LPS’ latest Mortgage Monitor report include:Total U.S. loan delinquency rate: 8.99 percentTotal U.S. foreclosure inventory rate: 3.18 percentTotal U.S. non-current* loan rate: 12.17 percentStates with most non-current* loans:Florida, Nevada, Mississippi, Arizona, Georgia, California, Illinois, New Jersey, Michigan and Rhode IslandStates with the fewest non-current* loans:North Dakota, South Dakota, Wyoming, Alaska, Montana, Nebraska, Vermont, Colorado, Iowa and Minnesota*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.Note: Totals based on LPS Applied Analytics’ loan-level database of mortgage assets.LPS manages the nation’s leading repository of loan-level residential mortgage data and performance information from nearly 40 million loans across the spectrum of credit products. The company’s research experts carefully analyze this data to produce dozens of charts and graphs that reflect trend and point-in-time observations for LPS’ monthly Mortgage Monitor Report.To review the full report, listen to a presentation of the report or access an executive summary, visit http://www.lpsvcs.com/NEWSROOM/INDUSTRYDATA/Pages/default.aspx(link is external).About Lender Processing ServicesLender Processing Services, Inc. (LPS) is a leading provider of integrated technology and services to the mortgage and real estate industries. LPS offers solutions that span the mortgage continuum, including lead generation, origination, servicing, workflow automation (Desktop), portfolio retention and default, augmented by the company’s award-winning customer support and professional services. Approximately 50 percent of all U.S. mortgages by dollar volume are serviced using LPS’ Mortgage Servicing Package (MSP). LPS also offers proprietary mortgage and real estate data and analytics for the mortgage and capital markets industries. For more information about LPS, visit www.lpsvcs.com(link is external).SOURCE Lender Processing Services, Inc. JACKSONVILLE, Fla., June 1, 2010 /PRNewswire-FirstCall/last_img read more

Sinar Mas to produce 1.8 million masks per month to meet rising demand

first_imgPaper producer Asia Pulp and Paper (APP), a subsidiary of diversified conglomerate Sinar Mas Group, is planning to locally produce masks through one of its subsidiary’s factories in Banten to help combat the spread of the COVID-19 pandemic.APP will produce 1.8 million masks per month starting from late April after it procures mask-manufacturing machines from China, the company’s director Suhendra Wiriadinata said in a written statement on March 30, as quoted by Tempo.“We expect that mask production will begin in the third or fourth week of April. We are also simultaneously working on the production licensing with relevant agencies and ministries” he said.  Sinar Mas Group’s managing director Gandi Sulistiyanto previously said the company would use a factory owned by APP subsidiary PT The Univenus, which is located in Cikupa in Tangerang, Banten, to produce the masks. He added that the masks would be primarily distributed for paramedics.[RA::Indonesian manufacturers step up as G20 nations coordinate global medical supplyhttps://www.thejakartapost.com/news/2020/03/27/indonesian-manufacturers-step-up-as-g20-nations-coordinate-global-medical-supply.html]To help flatten the COVID-19 curve, the government is now urging people to wear face masks whenever they are out in public. The new recommendation is an update from the previous guidelines and is in line with the World Health Organization’s latest recommendation.”The President has asked us to make guidelines on face masks in accordance with the World Health Organization’s advice,” head of Indonesia’s COVID-19 rapid-response task force, Doni Monardo, told an online press conference on Monday.Sinar Mas previously donated 10,000 masks alongside the Indonesian Chamber of Commerce and Industry’s (Kadin) donation of Rp 300 billion (US$18.3 million) to the government on March 24. The majority of the masks were produced by a Sinar Mas factory in China.Besides APP, textile factories in Indonesia are also switching their production lines to produce personal protective equipment (PPE) for medical personnel, including mass-producing masks and protective coveralls as the country scrambles to fight the spread of COVID-19.The Health Ministry announced 218 new confirmed COVID-19 cases on Monday, bringing the total number of infections nationwide to 2,491. Speaking at a press conference on Monday, the ministry’s disease control and prevention director general, Achmad Yurianto, added that 11 more people had died of the disease, bringing the death toll to 209.Topics :last_img read more