Forbearance Survey: Certain Borrowers ‘Disproportionately Impacted’

first_imgAverage speed to answer decreased from 2.8 minutes to 2.2 minutes.Abandonment rates decreased from 5.7% to 4.9%.Average call length increased from 7.2 minutes to 7.7 minutes.Loans in forbearance as a share of servicing portfolio volume (#) as of August 23, 2020:Total: 7.20% (previous week: 7.20%)IMBs: 7.41% (previous week: 7.43%)Depositories: 7.49% (previous week: 7.48%) Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Subscribe Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Fannie Mae’s Head of Multifamily, Jeffery Hayward, Promoted Next: CFPB Report: Effects of COVID-19 on Mortgage Loans, Other Debt Share Save Home / Daily Dose / Forbearance Survey: Certain Borrowers ‘Disproportionately Impacted’ Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: Forbearance Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img Fannie Mae and Freddie Mac loans in forbearance dropped while private loans and those owned by Ginnie Mae experienced an increase, according to the Mortgage Bankers Association’s (MBA) latest Forbearance and Call Volume Survey.The total number of loans now in forbearance remained unchanged relative to the prior week at 7.20% as of August 23. According to MBA’s estimate, 3.6 million homeowners are in active-forbearance plans.The share of Fannie Mae and Freddie Mac loans in forbearance dropped for the 12th week in a row to 4.88% – a 5-basis-point improvement. Ginnie Mae loans in forbearance increased by 4 basis points to 9.58%, while the forbearance share for portfolio loans and private-label securities (PLS) increased by 7 basis points to 10.44%. The percentage of loans in forbearance for depository servicers increased to 7.49%, and the percentage of loans in forbearance for independent mortgage bank (IMB) servicers decreased to 7.41%.”The share of loans in forbearance was unchanged, as the decline in the share of GSE loans was offset by increases for Ginnie Mae, and portfolio and PLS loans. The pace of new forbearance requests has been relatively flat across investor types, but for those with GSE loans, the rate of exits from forbearance regularly exceeds the rate of new requests,” said Mike Fratantoni, MBA’s Senior Vice President and Chief Economist. “The exception in these trends are borrowers with Ginnie Mae loans. The loss of enhanced unemployment insurance benefits, coupled with a consistently high rate of layoffs and uncertainty about the job market, are having a disproportionate impact on FHA and VA borrowers.”MBA’s latest Forbearance and Call Volume Survey represents 75% of the first-mortgage servicing market (37.3 million loans). More detailed findings of  MBA’s Forbearance and Call Volume Survey, August 17 to August 23, are as follows:Total loans in forbearance remained unchanged relative to the prior week at 7.20%.By investor type, the share of Ginnie Mae loans in forbearance increased relative to the prior week: from 9.54% to 9.58%.The share of Fannie Mae and Freddie Mac loans in forbearance decreased relative to the prior week: from 4.93% to 4.88%.The share of other loans (e.g., portfolio and PLS loans) in forbearance increased relative to the prior week: from 10.37% to 10.44%.By stage, 36.71% of total loans in forbearance are in the initial forbearance plan stage, while 62.43% are in a forbearance extension. The remaining 0.86% are forbearance re-entries.Total weekly forbearance requests as a percent of servicing portfolio volume (#) remained unchanged relative to the prior week at 0.10%.The report also detailed weekly servicer call center volume, which showed:As a percent of servicing portfolio volume (#), calls decreased from 8.7% to 7.2%. September 1, 2020 1,497 Views The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: Christina Hughes Babb Demand Propels Home Prices Upward 2 days ago Related Articles Forbearance 2020-09-01 Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Government, Market Studies, News  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Forbearance Survey: Certain Borrowers ‘Disproportionately Impacted’last_img read more

Anti-racism protests turn spotlight on icons of US history

first_imgThe statue, whose pedestal has already been covered with anti-racist graffiti, has held pride of place for a century in Richmond, the Confederate capital during the Civil War.In Washington, a statue of Confederate general Albert Pike was torn down last week.Increasingly, other figures who hold large places in American history are also not safe, and on Monday evening a crowd tried to topple the statue of Andrew Jackson, the seventh president, in Lafayette Park, close to the White House. As the wave of anti-racism protests rocking the United States brings down monuments to figures linked to the country’s history of slavery, the spotlight is shifting to historic characters long considered untouchable.Although protesters initially focused on removing statues of Confederate generals, the movement has begun to turn its focus to icons of US history, including the nation’s founders Thomas Jefferson and George Washington, and President Theodore Roosevelt.The death of George Floyd, a black man, in Minneapolis police custody on May 25 has sparked debate around statues and monuments honoring people central to the US’ slave system, some of which have been pulled down or vandalized. ‘Hurt beyond repair’ Thomas Jefferson, the third US president, has been the target of some protesters, with many statues of the leader vandalized.Even though he was one of the authors of the Declaration of Independence, he also owned more than 600 slaves and viewed black men as inferior to white, according to the website of his Virginia plantation-turned-museum, Monticello.”There are many statues of him that should come down,” wrote television host Shannon LaNier last week in an essay for Newsweek. LaNier is a descendant of Sally Hemings, one of Jefferson’s slaves with whom he fathered several children.Seeing statues “of their ancestors’ slave master, a murderer, or a white supremacist” causes “hurt beyond repair” for many African Americans, LaNier wrote.Even the nation’s father and first president, George Washington, is no longer beyond reproach: he owned 100 slaves at his Mount Vernon plantation, south of the federal capital bearing his name.”Putting a statue in a public place, it’s a form of veneration, and many people now ask why are we venerating people who owned slaves,” said Gallaher.In her opinion, even if the differences between Lee and the Founding Fathers are clear, “they all have slaves, and that’s what bothers people so much.”She noted that other members of the Founding Fathers had “questioned the morality of slavery.” History in museums For Daniel Domingues, an associate professor of history at Rice University in Houston, any monument to Jefferson “should be contextualized with a plaque or added inscriptions.”The city of New York opted for another route, deciding to remove a statue of the 26th president, Theodore Roosevelt, from the entrance of the American Museum of Natural History.The move, decried by President Donald Trump, was due to the judgment that the statue represented colonialist and racist views.The bronze statue depicted “Teddy” Roosevelt on horseback, while a black man and a Native American walked beside him.The museum explained Sunday that the statue “explicitly depicts Black and Indigenous people as subjugated and racially inferior.”The website noted that Roosevelt was considered a progressive environmental defender at the start of the 20th century, but he also maintained racist opinions.”Where do you draw the line, from Gandhi all the way to George Washington?” White House spokeswoman Kayleigh McEnany asked Monday.Trump has defended the Confederate monuments and said that removing them would destroy US history and culture.But “erasing the statues is not erasing the past, it should be read as being a part of the history,” Domingues told AFP, noting that American history “is preserved in history books or museums.”Gallaher, who grew up in Virginia, agreed: “People don’t learn their history from statues. You will learn about George Washington even if a statue is not there,” she said.center_img The ongoing protests are “a battle over the narrative of American history in the realm of statues,” Carolyn Gallaher, a professor at American University in Washington, told AFP.”In the South, people decided to venerate confederates. Protesters are saying, ‘No more.'”Slavery served as the economic backbone of the American South until the end of the American Civil War (1861-1865), and has left a lasting mark on both daily culture and stereotypes and perceptions of the region.In Virginia, where some of the first English colonies were established before becoming the heart of American slave country, protesters have called for the removal of a statue of General Robert E Lee, the leader of the Confederate army. Topics :last_img read more

Ripley Youth Outreach receives $5,000 grant

first_imgVersailles, IN—The Ripley County Community Foundation’s youth program, Ripley Youth Outreach (RYO), received a $5,000 My Community My Vision (MCMV) Grant to develop and initiate a youth-led project within Ripley County.  The goal of MCMV is to have the youth plan and implement a project that appeals to teenagers in Ripley County.  The Town of Versailles has partnered with RYO to assist with the community project.Sponsored by IHCDA (Indiana Housing & Community Development Authority), My Community My Vision is a youth community planning program that hopes to encourage teenagers to stay, or return, to their hometowns after college.  The funders of this grant believe that the more involved a person is within their community, the more likely they are to return to, or to remain, in their hometowns.   My Community My Vision hopes to empower the youth of Indiana to become future leaders of Indiana while teaching students about civic involvement and municipal planning.“We are very appreciative of this grant but more importantly, the opportunity it provides to local teens to be engaged in the planning and development of a community project.  Ripley County is fortunate to have young people who want to invest their time and ideas into making our community a better place,” states Amy Streator, Executive Director of the Ripley County Community Foundation.Over the course of the next six months, RYO will work with an Indiana University Purdue University of Indianapolis (IUPUI) graduate student who will serve as a college mentor to the youth program.  The mentor will assist in creating a vision plan based on the ideas put forth by the students.RYO will present their final proposal in Indianapolis to the My Community My Vision Board in April of 2020.  Past recipients of the grant have completed projects such as community gardens, small business partnerships, community crime prevention initiatives, and public art projects.  By the completion of the youth-led project, a meaningful youth involvement bond between students and community leaders will be established, along with the greater hope that students will return to their hometown after college.  RYO’s community project will be implemented in the Fall of 2020.last_img read more

Focused Windies not fazed by underdog tag in historic day/night opening Test

first_imgBIRMINGHAM, England (CMC) – Inexperienced West Indies will hope to silence their many detractors when they clash with a dominant England in the historic day/night opening Test at Edgbaston here today, in what is likely to be their sternest challenge in recent times.Written off long before arriving here for the three-Test series, the Caribbean side are expected to be put under intense pressure from an England squad still buoyant from their emphatic series win over South Africa last month.Further, the Windies have not won a Test here in 17 years and are also without a series win in nearly three decades, since the incomparable Sir Vivian Richards presided over a 3-1 victory in 1988.Captain Jason Holder, on his first tour of England since taking over the helm of the side two years ago, told reporters here yesterday that despite being underdogs, he had been boosted by his side’s form in the recent first class tour matches.“We’re obviously huge underdogs. England are a very good cricket team. They’ve played some very good cricket and a number of their players are in good form,” Holder said.“And likewise for us, we’ve had a pretty decent year so far in Test cricket – we’ve won one Test game so far and we’ve lost two.In that last series against Pakistan, I felt there was significant improvement. We had guys who showed progress and improvement and (are) showing signs they can compete here at Test level.“For us, we’ve just been focusing on ourselves primarily and trying to nail down our processes, and I think we have been doing that in the warm-up games so far, so we only hope that can transcend into the Test series.”West Indies have showed signs of form in the tour matches, with four batsmen – Kyle Hope, Shai Hope, Roston Chase and Kieran Powell – all getting hundreds in the drawn game against Derbyshire last week.Chase, in particular, has been outstanding with scores over fifty in his four innings on tour while Jermaine Blackwood has also been among the runs.Seamer Kemar Roach, on his first Test tour in nearly two years following a spell on the sidelines due to injury and loss of form, started the tour with a five-wicket haul against Essex while rookie 20-year-old speedster Alzarri Joseph shone with a four-wicket haul against Kent.Pacer Holder, who bowled well in the Derbyshire day/night game, said it was important the Windies bring all the facets of their game together, especially since they would be playing under lights with the pink ball.“I think our bowling has really carried us throughout the last few Test matches. We’ve got people like Shannon Gabriel who has had a pretty decent year, myself I haven’t been doing too badly,” he pointed.“We’ve got Miguel Cummins, young Alzarri Joseph – Kemar Roach is actually showing some very, very good form, so I’m really confident in our bowling.“It’s just for our batsmen to make some runs. We’ve struggled in the past primarily with our batting but so far on this tour we’ve been doing really well so I’m expecting things from the batsmen.”He added: “The mood is good. We have two solid weeks of preparation here in England. I felt these three tour games were of good benefit to us. We got a chance to get acclimatised, obviously (got) a chance to see how the pink ball operates here in England and obviously the red ball so it was a pretty good exercise in the last two weeks.”The Windies enter the series with a less than stellar recent record, with just three wins in their last 23 Tests and without a Test series win in three years.In fact, the last time West Indies beat a side ranked higher was in 2012 when they secured a 2-0 series win over New Zealand in the Caribbean.The Test, the first to be played with the pink ball in England, bowls off at 14:00hrs (09:00hrs Eastern Caribbean time).SQUADS:ENGLAND – Joe Root (captain), Moeen Ali, James Anderson, Jonathan Bairstow, Stuart Broad, Alastair Cook, Dawid Malan, Toby Roland-Jones, Ben Stokes, Mark Stoneman, Tom Westley.WEST INDIES – Jason Holder (captain), Kraigg Braithwaite, Devendra Bishoo, Jermaine Blackwood, Roston Chase, Miguel Cummins, Shane Dowrich, Shannon Gabriel, Shimron Hetmyer, Kyle Hope, Shai Hope, Alzarri Joseph, Kieran Powell, Raymon Reifer, Kemar Roach.last_img read more

Racer dies after passing out at speedway

first_imgIRWINDALE – A 62-year-old drag racer at Irwindale Speedway slumped over the wheel of his red Mustang on Thursday night and never woke up, authorities said Friday. County fire officials said Ed Conrad was pronounced dead at Methodist Hospital in Arcadia. Conrad was about to begin a race at the speedway. Conrad often raced in Irwindale. “From what the paramedics told me, it was an apparent heart attack,” said Speedway Vice President Robert DeFazio. “I’m told by witnesses he slumped over the wheel, passed out, and went down the track a little ways and stopped.” Speedway safety crews performed CPR on Conrad until Los Angeles County firefighters arrived. “In this instance, he was pulseless,” said Capt. Steve Bierbaum. “CPR was being conducted when we arrived. The paramedics continued with advanced life support and it’s my understanding that he was pronounced dead at the hospital.” Bierbaum could not confirm whether a heart attack was the cause of death. County fire Capt. Miguel Garcia said Conrad did not appear to have been seriously injured in the crash. Racing fans left the track unsure of whether Conrad had survived, Elias said. When he heard Conrad had died, Elias was shaken. “We knew something really terrible was happening,” he said. “He died doing what he loved … I suppose you could look at it that way.” [email protected] (626) 962-8811, Ext. 2730160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set!last_img read more

The QPR v Arsenal quiz

first_imgArsenal haven’t visited QPR for some time but the two clubs’ paths used to cross regularly. How well do you know your history? See how many of these 10 questions you can answer correctly…. [mtouchquiz 2]last_img

Not Pinterested, Thanks: Get Your Own Damn Taste

first_imgadriana lee A Comprehensive Guide to a Content Audit I’m not sure what the motivation is for users, since they don’t earn money from the sales. I wondered if it was the cachet of being a trendsetter, so I conducted an unofficial, completely unscientific survey of a few friends.Here’s what I found: Half of them thought this was a great idea. They love sharing deals and steals anyway, and some couldn’t wait to follow certain people they know and admire. Those in the other half, however, were appalled—as if they faced the prospect of Joan Rivers’ “Bitch Stole My Look” jumping off E!’s Fashion Police and landing in their own lives. I’m with the latter group. I took MyStorey for a spin last month, and after uploading one pic—of my brand-new mid-century modern sofa—a thought flashed through my mind. I suddenly imagined my beloved sofa sitting in the homes of everyone I know. Then I pictured all of my friends and family wearing the same thing, eating at the same restaurants and living in carbon copy homes. I immediately decided not to upload another pic. My Closet Is Not Your StoreSoon, people started referring to Jane and Tanya as “the twins.” Jane wasn’t pleased. In fact, she was dying to put her foot down, but how? She was the one who first turned Tanya on to some of her favorite shops and brands. She had no idea that her friend would start mimicking her style.In itself, the notion of social network–fueled shopping—or “we-commerce”—isn’t wrong-headed. It’s not even anything new. Personal recommendations from friends have always carried more weight for consumers than slick marketing materials or promotional pushes. It also piggybacks on the same human nature that drives us to tell friends about a big clearance sale or where we got that amazing new stand mixer for half the price. But telling a friend or two about a hot discount or a fabulous purchase is different from showing all your contacts how to clone your closet or house. Some sites may want us all to feel like celebrities endorsing products, but this doesn’t appeal to everyone. Maybe that would change if everyone had bodyguards and security personnel to deal with wayward followers.  Related Posts My friends Jane and Tanya were pals. They’d known each other for five years and frequented the same social circles, in real life, as well as online. But Jane started noticing a bizarre pattern. Every time she bought a new scarf, sweater or bag, Tanya would show up a week later with the same item.Aspirations are powerful, and no one knows that better than Pinterest. It’s the secret sauce in the 3-year-old online photo pinboard’s popularity. The site’s 40 million users use it to save recipes they hope to cook, styles they want to test, or projects they’d love to try. And when it comes to sharing items from e-commerce sites, Pinterest has actually lapped social juggernaut Facebook. Adding retail to this environment would make perfect sense. Even so, Pinterest moves carefully, and wisely so. “We’re trying to do something where the average person … feels that it makes the experience better,” CEO Ben Silberman said at D11: All Things D conference last May. He explained the company doesn’t want to “commodify someone’s passions.”That same month, the site debuted “rich pins”—snippets that give extra information, such as ingredients (for recipes) and, yes, retail links for certain products or stores. But Pinterest has a key differentiating factor. Because its pins are usually aspirational, it’s not necessarily selling users’ current lifestyles. Compare that to MyStorey, a Los Angeles-based startup that turns people’s own photos into shopping portals. The network—now in the middle of a limited beta test—is like a mash-up of Flickr, Pinterest and Fab. Users share their own images (like Flickr) in a pinboard format (like Pinterest), and tag those photos with prices and retail links, so followers can buy the featured clothes, accessories and other goods (like Fab). Making money from social media is tricky business. When it comes to profiting off what people share, there’s a line between tasteful and tacky, between inspired and creepy. Although Pinterest is proceeding cautiously on this front—and with good reason—some of its knockoffs are racing to commoditize people’s lives and mementos. That’s right: We’ve hit a new stage in which people can not only share their heartfelt moments and treasured images with friends, but also turn them into shopping portals that let everyone they know copy their tastes. Looks like the line between inspired and creepy just got a little fuzzier. Bitch Stole My Look Indeed, some people go to freaky extremes, both offline and on. Anecdotes about Facebook stalking have become cautionary tales—there’s even a WikiHow for dealing with it—and now LinkedIn stalking has been getting attention. Add the allure of a social network that puts users’ lives on sale, and we could have a nation of Jennifer Jason Leighs going all Single White Female on people. Once again, I shudder. The Right Way To Share Social RetailI urged Jane to have a heart to heart with her friend and gently tell her what she was feeling. And Jane succeeded in getting her point across. Tanya eventually found her own style. Actually, it belonged to a local boutique a neighbor turned her on to. She started buying whole outfits as they appeared in its window. That’s not to say retail and social networking don’t make for a great partnership. In fact, a few sites are actually getting it right. Fab, for instance—which just dropped its “Hurry now!” flash-sale approach in favor of letting customers follow tastemakers—works because it’s a store first and a social site second. In a similar vein, Fancy, which positions itself as more of a wish list, also manages to sell products without selling people’s personal memories, mementos and special moments. There are no photos of baby’s first steps visually marred by price tags promoting retail links for that adorable rattle or bib. The retail industry is finding its legs in this new social media-driven world. Meanwhile, social sites are clearly experimenting with ways to turn a profit. I have no doubt they will figure it out. I just have no idea if they’ll be able to do it without turning the act of “sharing” into a tacky pursuit powered by wannabes and followers, or creeping people out in the process. As for my friends Jane and Tanya, they remain friendly, though they’re not as close as they used to be. But I learned something from their situation: There’s a difference between admiring someone’s taste and ripping it off. I have fingers crossed that this social distinction will survive social media and its push for monetization. Feature image courtesy of MyStorey. Image of identical toys/figurines courtesy of Flickr user Thom. Images of Fashion Police and Single White Female screen captured from YouTube via E! Entertainment and movieclips, respectively.  Tags:#retail#social Guide to Performing Bulk Email Verification Facebook is Becoming Less Personal and More Pro… The Dos and Don’ts of Brand Awareness Videoslast_img read more

Victor Salako Invited to Philadelphia Eagles Rookie Minicamp

first_imgOffensive lineman Victor Salako was not selected in the NFL draft and did not sign an undrafted free agent deal like several other departing Cowboys, however he’s still getting a shot at the next level.According to SB Nation, Salako is one of 20 players who is being brought in on a rookie minicamp tryout with the Philadelphia Eagles, which began on Friday. Salako joins Tulsa quarterback Dane Evans and Tulsa wide receiver Keevan Lucas among local products getting a shot with the franchise.Salako joined the football program in 2015 after the UAB football program dissolved and was an immediate plug-and-play left tackle for OSU, proving to be one of the more durable and reliable big men on the offensive front that produced 2,550 yards on the ground and helped freshman running back Justice Hill earn All-American status in the 2016 season.The Eagles signed just one undrafted free agent offensive lineman, center Tyler Orlosky, and did not draft an offensive linemen in the NFL draft. While you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up.last_img read more

Watch: It’s Never Too Early for an OSU Football Hype Video

first_imgWhile you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up. We’re closing in on two months before college football starts. You know what that means. We all still have time to grow out our mullets before the season opener.And with Mason Rudolph and all of his weapons returning, we’re chock full of grandiose expectations and as excited for fall as ever.But if you want to add a little more hype to your weekend (who wouldn’t?) take a gander at this clip. It’s sure to whet your appetite for college football.last_img read more

Watch: Freshman J.D. King Scores TD on Second Collegiate Carry

first_imgWhile you’re here, we’d like you to consider subscribing to Pistols Firing and becoming a PFB+ member. It’s a big ask from us to you, but it also comes with a load of benefits like ad-free browsing (ads stink!), access to our premium room in The Chamber and monthly giveaways.The other thing it does is help stabilize our business into the future. As it turns out, sending folks on the road to cover games and provide 24/7 Pokes coverage like the excellent article you just read costs money. Because of our subscribers, we’ve been able to improve our work and provide the best OSU news and community anywhere online. Help us keep that up. On the first rush of his college career, freshman J.D. King went for two yards. On his second, he went 71 yards to the house for the first touchdown of his career. It was a beauty, too, as he was untouched throughout.It was also Oklahoma State’s longest rushing play since 2011.Oklahoma State has now scored on four of its first five possessions and is averaging 12.3 yards per play. They lead 28-14 in the middle of the second quarter.WATCH: Hail to the King! J.D. King goes 71 yards to put #OKState up 28-7! pic.twitter.com/ME0UqldbbH— Cowboy Football (@CowboyFB) September 1, 2017AdChoices广告last_img read more