‘Troubling Trends’ Could Result in Increased Forbearance Activity

first_img New data published by the Mortgage Bankers Association (MBA) has tracked a slight increase in the number of mortgages now in forbearance.According to the MBA’s latest Forbearance and Call Volume Survey, 5.49% of servicers’ portfolio volume, or 2.7 million loans, were in forbearance plans as of Dec. 13, up one basis point from 5.48% in the prior week. By investor type, the share of Ginnie Mae loans in forbearance saw the greatest week-over-week jump, from 7.68% to 7.79%, while the share of Fannie Mae and Freddie Mac loans in forbearance dipped over the same period from 3.26% to 3.25%.Among other loan categories, the forbearance share for portfolio loans and private-label securities (PLS) fell 13 basis points week-over-week to 8.76% while the forbearance share for independent mortgage bank servicers decreased 3 basis points from the previous week to 5.95% and the percentage for depository servicers increased 3 basis points from the previous week to 5.41%.For the week ending Dec. 13, the MBA found 18.78% of total loans in forbearance are in the initial forbearance plan stage, while 78.54% are in a forbearance extension and the remaining 2.69% are forbearance re-entries. Total weekly forbearance requests as a percent of servicing portfolio volume remained unchanged from the prior week at 0.12%.Mike Fratantoni, MBA’s SVP and Chief Economist, noted that forbearance levels were mostly steady since early November, although forbearance requests from Ginnie Mae’s borrowers “reached the highest level since the week ending June 14.” However, he was not optimistic about the near future.“Additional restrictions on businesses and rising COVID-19 cases are causing a renewed increase in layoffs and other signs of slowing economic activity,” Fratantoni said. “These troubling trends will likely result in more homeowners seeking relief.”Fratantoni’s concern on troubling trends was echoed earlier this week by Michael Sklarz, who leads Black Knight Data and Analytics’ Collateral Analytics team. In a blog posting, Sklarz, predicted that many homeowners facing the expiration of their forbearance plans under the CARES Act might put their properties up for sale rather than face mortgage delinquency.“There are millions of homeowners currently in forbearance across the country who will lose those protections throughout next year and—depending upon their ability to return to performing status—who may find themselves facing foreclosure,” Sklarz wrote. “This is of course assuming a Biden administration doesn’t extend the moratoriums currently in place. Regardless, we may very well see a meaningful increase in the number of homes listed for sale as these borrowers choose to sell at what is arguably an intermediate top in the market and downsize to more affordable homes rather than face foreclosure.” About Author: Phil Hall ‘Troubling Trends’ Could Result in Increased Forbearance Activity Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post Previous: Housing Advocates Applaud Stimulus Deal Next: CFBP Issues Advice on Special Purpose Credit Programs Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. 2020-12-22 Christina Hughes Babb Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, News The Best Markets For Residential Property Investors 2 days ago Related Articles The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Share 1Save Data Provider Black Knight to Acquire Top of Mind 2 days ago December 22, 2020 2,085 Views Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / ‘Troubling Trends’ Could Result in Increased Forbearance Activity Subscribelast_img read more

Asante Kotoko suspends defender Ofosu Appiah

first_imgKumasi Asante Kotoko have handed a one-month suspension to defender Ofosu Appiah for opening his “mouth wide”.The centre-back caused a major stir after claiming some management members tried to convince the playing body to play a match of convenience against AshGold in the league.Appiah claims he rejected the bribe from a management member.Kotoko have decided to suspend the former Heart of Lions player from the team so he can assist in investigations.Source: Ghanasoccernetlast_img

L.A. Dodgers’ Chris Hatcher now rolling along in fine fashion

first_img• Photos: Arizona Diamondbacks defeat the Los Angeles Dodgers 8-0 MLBHatcher has self-analyzed a lot, saying “I’ve covered it 50 times since I’ve been back.”Manager Don Mattingly, while discussing Hatcher late last week, said that Hatcher has “kind of pushed himself into that spot,” meaning set-up man. But Hatcher isn’t taking a thing for granted.“No, bullpens are a thing that you kind of take the hot hand at the time, and I guess you could say I’ve got a hot hand right now,” Hatcher said Tuesday before the Dodgers took on the Arizona Diamondbacks. “But that could change in one day, so I don’t think there is any established thing in a bullpen, so to speak, unless you’re a closer.“So you just keep fighting and keep working to maintain where you’re at and get better.” Hatcher, 30, most recently appeared in Saturday’s 3-2 loss to Pittsburgh. He gave up an RBI double to Aramis Ramirez in the eighth inning that proved to be the winning run. The run was charged to Clayton Kershaw, however, as Kershaw had given up a leadoff double to Gregory Polanco.Still, as recent times go, it was a rare failing for Hatcher.Hatcher did a rehab stint at Oklahoma City before being reactivated. He only pitched 4 1/3 innings there, with an ERA of 8.31. But he was there with a purpose, Mattingly said at the time.“He’s going to be pitching in Oklahoma and continuing to pitch different-type settings, from one (inning) plus, to back-to-back (games), just trying to … put a lot of different things on his plate so he fits back in with our club,” he said Aug. 9. “… Now it’s just a matter of him sequencing, pitching, getting sharp.” Mission accomplished.Turner updateThird baseman Justin Turner has not played since coming out of Saturday’s game with left knee soreness. An MRI on Monday revealed a bone bruise and inflamed tendon.Mattingly sounded optimistic about a quick return.“We see him out here today,” Mattingly said during infield drills. “He hit a little bit in the cage, did his warmups, going to take some ground balls. So, obviously, he’s feeling better and we’ll see how this day affects him and how we make decisions going forward.”Rollins close to returningShortstop Jimmy Rollins has not played in the field since Sept. 6 because of an injured index finger on his throwing hand. Mattingly expects Rollins back at his position any day now.“You see him working again today, and I’m hoping Jimmy is available in the next couple of days,” Mattingly said.Rollins had been used as a pinch-hitter the past three games.Liberatore recalledThe Dodgers on Tuesday recalled southpaw reliever Adam Liberatore, who last pitched in a postseason game for Triple-A Oklahoma City on Sept. 11.Mattingly said that even though he has plenty of arms in the bullpen with the expanded roster, he wanted Liberatore because Jim Johnson and his wife are expecting a baby any day and Johnson figures to be gone for a few days.Liberatore is 2-2 with an ERA of 4.15 in 35 games for the Dodgers this season. He went 0-1 with three saves and an ERA of 3.74 in 19 games at Triple-A. When Chris Hatcher went on the disabled list in mid-June with a left oblique strain, the Dodgers relief pitcher had an ERA of 6.38 with two saves, seven holds and two blown saves.He was activated in mid-August, and going into Tuesday’s game had an ERA of 1.25 in 16 innings since then to reduce his ERA to a respectable 3.93. The set-up man now has three saves and 11 holds.To Hatcher, not much has changed in the way he has gone about his business, the much-improved numbers notwithstanding.“No,” he said, when asked if he has made any changes. “Making better pitches, getting a little better luck and things are going my way.”center_img Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

Growing number of government workers commit welfare fraud

first_img“She had these two identities going and LACERA and the welfare department didn’t know about it.” In June, Brown pleaded guilty to welfare fraud, was sentenced to 16 months in prison and ordered to pay $89,522 in restitution, according to court records. And she is one of a growing number of government and private sector workers who are using similar schemes to fraudulently collect welfare benefits, Baker said. The District Attorney’s Office recently prosecuted some U.S. Postal Service employees who were fraudulently collecting welfare benefits while working for the government. “We’ve found that in all our public benefit systems that people are establishing two identities to fraudulently collect benefits,” Baker said. “In some cases, they are collecting Supplemental Security Income benefits under one identity and also receiving In-Home Supportive Services benefits as being disabled. “In the Section 8 program, a person might be receiving Section 8 benefits and welfare under one identity, and under another identity they own the home in which they are living and are being paid by Section 8, too. These double-identity schemes in Los Angeles County are a major problem. And they are often only caught by accident.” Brown’s case is one of several detailed in Auditor-Controller Tyler McCauley’s Fraud Hotline report released this week, showing fraud investigations in county government rose 19 percent over the prior six-month period. The number of new investigations rose from 281 in the six-month period ended March 31 to 348 in the six-month period ended Sept. 30. The report included an unusually large number of cases with high dollar losses. Taxpayer losses in the most recent period totaled $616,684, up from $239,475 in the prior period. Other cases included: A Los Angeles County Probation Department employee allegedly forged documents and fraudulently collected more than $130,000 in death benefits, even though her husband is still alive. Prosecution is pending. A Department of Health Services manager allegedly approved an employee’s time cards for hours he did not work, resulting in $118,471 in overpayments over three years. The employee resigned and disciplinary action is pending against the manager. A Department of Mental Health provider allegedly submitted improper claims and falsified supporting documents resulting in $223,000 in unsupported billings for client counseling sessions. The case was referred to the district attorney for review.160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! In 1988, Rita Brown started working as a retirement benefit specialist for Los Angeles County, using her Social Security number and California driver license to obtain the post. But using a second Social Security number and a second California driver license in the name of Rita Kay Fellows, she then began collecting welfare benefits from the county Department of Public Social Services. Over the next 19 years, the Pasadena resident lived a double-identity – working for the Los Angeles County Employees Retirement Association, an agency that administers $40 billion in pension funds, and collecting welfare benefits under an alias until she was finally caught, according to court records and interviews with officials. “She had a double identity going,” said James Baker, assistant head deputy district attorney in the Welfare Fraud Division. “Under one identity, she was a LACERA employee and under another identity she was collecting welfare for years and years. last_img read more

H-DNL football: Weekend slate at a glace

first_imgShasta (1-2) at Eureka (1-3)Friday’s game between Shasta and Eureka will serve as the Loggers’ penultimate home game of the season.Eureka comes into the contest fresh off its first win of the season, a 32-7 drubbing of Montgomery—Santa Rosa last week. Shasta enters Friday’s game coming off a 50-14 loss at home to Elk Grove. Eureka won last season’s game between the two teams 35-14. Eureka’s quarterback Trevor Bell currently has the 11th most passing yards (787) in the North Coast Section. His …last_img

Import, distribution and sales in South Africa

first_imgSouth Africa offers foreign suppliers a variety of methods to distribute and sell their products, including using an agent or distributor, selling through established wholesalers or dealers, selling directly to department stores or other retailers, or establishing a branch or subsidiary with its own sales force.WholesalersConsumer goods requiring maintenance of stocks and industrial raw materials are often exported to South Africa through established wholesalers.Retail organisationsMany exporters of consumer goods sell directly to South African retail organisations – including consumer corporations, department stores, chain stores, and co-operative groups of independent retailers – which assume the functions of wholesale buying, selling and warehousing.Consumer retailSouth Africa offers the full spectrum of retail outlets: small general dealers; specialty stores handling a single product line (such as clothing, electronics, or furniture); exclusive boutiques; chain stores (groceries, clothing, toiletries, household goods); department stores; cash and carry wholesale retail outlets; and co-operative stores serving rural areas. Large-scale supermarkets, or hypermarkets, are located in suburban shopping malls and sell large quantities of almost all consumer goods.About 90 percent of the consumer trade inventories of these stores are domestically sourced.FranchisesFranchising is well-established in South Africa, with the sector showing strong and continued growth. Around 30% of South African franchises are non-food systems, with an emphasis on service. Building, office and home services sectors are dominant, with automotive, restaurant, health, education and training franchises also available.After-sales agentsFor products of a technical nature, it maybe necessary to appoint an official after- sales agent in South Africa. This may be a company that does not import or market the product in question, but rather, because of its geographical reach, technical ability and goodwill in the market, acts as the certified service agent.Appointing an appropriate after sales agent is crucial in ensuring that the product develops a respected reputation in the South African market.The US Commercial Service’s Doing Business in South Africa – 2011 Country Commercial Guide offers more information on selling factors and techniques.Agents & distributorsIn South Africa, the terms “agent” and “distributor” have very specific meanings.AgentsIn the strict legal sense, “agent” means a person who, for and on behalf of a principal, either introduces a third party to the principal by soliciting orders from the third party, or concludes contracts with the third party on behalf of the principal. The normal reward for an agent is a commission, which is received from the principal.Key considerations in appointing an agent in South Africa are:You need to appoint an agent who knows your market well. The South African business sector is relatively small, and companies have established methods of procurement that differ from sector to sector.You need to consider national distribution. South Africa is a large country, with nine provinces. Lacking the support of national infrastructure, smaller agents often tend to operate provincially. This means you may need to appoint an agent in each of the larger cities – Johannesburg, Cape Town, Port Elizabeth and Durban – to cover the country. Larger companies who take on agencies often have an office in each of the major centres, making any agency agreement easier to control.For certain products, South Africa is a trading hub for the southern African region, and you need to consider whether your South African agent should handle business in these countries on your behalf.DistributorsA distributor buys and holds stock of a product. In return, they are usually granted an exclusive right to sell the product in a particular area or to a particular type of customer. An agreement with a distributor is similar to an agreement with an agent, except that price and delivery terms will differ because the distributor is a principal.When appointing a distributor in South Africa, the same considerations apply as when appointing an agent.BrandSouthAfrica reporterReviewed: 31 August 2012Would you like to use this article in your publication or on your website? See Using Brand South Africa material.last_img read more

Teen Magazine Solicits Advice from First Father

first_imgThe Dos and Don’ts of Brand Awareness Videos Banking on the President’s penchant for unusual outlets as part of his “under the radar” and “unusual” campaign media strategy- from local radio hosts to the President’s recent and historic Reddit AMA – the teen magazine has taken its campaign to Twitter with the hashtag #obama4grownman.“I just decided to start a Twitter campaign to ask Obama to do Ask a Grown Man with no expectations beyond that it would be fun for me and our staff and that it would be funny and that it might get us five new Twitter followers,” said Rookie editorial director Anaheed Alani in an interview with the Guardian about the Twitter campaign.Twitter campaigns, believe it or not, have a higher than expected success rate. Just two weeks ago, Twitter personality and Community superfan @rare_basement appeared on The Late Late Show with Craig Ferguson after repeatedly tweeting at him. “Honestly, I didn’t think this would work” said rare_basement on-air to an exasperated Ferguson. (Rare_basement happened to be in the neighborhood, as she was hanging out with the cast on the Communityset – a feat also set up through Twitter.)But it did work, and chances are, Rookie’s #obama4grownman will work too. Its founder and editor-in-chief, after all, is the sixteen-year-old Tavi Gevinson, the child prodigy of our digital age. Gevinson’s original blog Style Rookie – started when she was 11 –  propelled her to Internet fame and caught the eye of top designers who courted her with front row seats at various Fashion Weeks by the time she was 14.  Rookie Magazine was founded in 2011, and has left many a seasoned journalist in awe. It’s not hard to believe that Malia, Obama’s oldest daughter at 14, probably reads the site and would think her dad cool for doing Ask a Grown Man. #justsaying.  A Comprehensive Guide to a Content Audit Tags:#Blogging#Digital Lifestyle#Government#New Media#twitter#web “Dear @BarackObama: Our homework’s done, our rooms are clean, we did our chores. How about you do something for us now? #obama4grownman” tweets Rookie Magazine, the year old online teen publication Friday.Rookie Magazine, which has attracted a readership of all ages and genders, is best known for its “Ask a Grown Man” YouTube series featuring celebrities fielding questions from teen girls on everything from relationship, fashion and school advice. Facebook is Becoming Less Personal and More Pro… Guide to Performing Bulk Email Verification fruzsina eordogh Related Posts last_img read more

The other side of Ghalib

first_img‘Mirza Ghalib portrayed on the stage a number of times but never in a negative avatar. And that is the basic premise of my play, said Aziz Qurashi. Generally, people tend to go gaga at the mere mention of the Urdu poet. But few are aware that he had a negative side to him as well.  Qurashi, in his play Aitraaf-e-ghalib (which means confessions of Ghalib),  explores facets of him which are either unknown to many or simply kept under wraps for fear of disgrace. Also Read – ‘Playing Jojo was emotionally exhausting’‘The plot of the play revolves around Ghalib in the last stages of his life and as he lay on his death bed, how the poet ruminated about his past deeds and mistakes which he now knows can never be reversed’ said Qurashi.Ghalib is portrayed as a split personality on the stage whereby there are three Ghalibs. One portrays the role a nawab, the second a poet and the third old Ghalib.The highlight of the play is a dialogue between the two Ghalibs (Nawab and poet) and how each one questions the other’s existence and tries to explore who is more imperative for survival and fame. Also Read – Leslie doing new comedy special with Netflix‘Like the Nawab Ghalib points out that if he was not born in a aristocratic family, then the poet Ghalib would have never been honed. Similarly, the poet Ghalib says that if he never tried his hand at poetry, then no one would have cared for Nawab’s aristocracy,’ added Qurashi.Aitraaf-e-Ghalib is a musical based on flashbacks. ‘Ghalib indulged in all sorts of vices. He used to go to prostitutes, was an alcoholic but at the same time was a genius,’ said Qurashi. One of the most striking facts about Ghalib’s life was that he never mentioned his wife or children. Nor was there any narration about his family life. But he used to visit a brothel where his mistress used to sing his couplets as songs and entertain people during those days.With a cast and crew of over 35 people, the play has been recreated using 80 per cent of Ghalib’s original letters. ‘With a view to get as real as possible, the same atmosphere in terms of costumes, props and lighting has been recreated on the stage,’ said Qurashi.DETAILAt: Stein Auditorium, India Habitat Centre, Lodi Road When: 30 December Timings: 7 pm onwardslast_img read more