Mortgage Performance Improves Across the Board For Eight National Banks

first_img Share Save  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Mortgage Performance Improves Across the Board For Eight National Banks Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Home / Daily Dose / Mortgage Performance Improves Across the Board For Eight National Banks The Week Ahead: Nearing the Forbearance Exit 2 days ago June 25, 2015 1,035 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Brian Honea Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily center_img Previous: CFPB Publishes Nearly 8,000 Consumer Complaint Narratives For the First Time Next: Home Value Forecast Examines Criteria for Institutional Investor Purchases Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: First-lien mortgage performance Foreclosures Loan Modifications OCC Office of the Comptroller of the Currency The Best Markets For Residential Property Investors 2 days ago in Daily Dose, Featured, Market Studies, News Approximately 94.2 percent of first-lien mortgages serviced by eight national banks were current and performing at the end of the first quarter, an improvement of more than a full percentage point from a year earlier, according to the Office of the Comptroller of the Currency’s Q1 2015 Quarterly Mortgage Metrics Report released Thursday.The eight national banks covered in the OCC’s report are (alphabetically) Bank of America, JPMorgan Chase, Citibank, HSBC, OneWest Bank, PNC, U.S. Bank, and Wells Fargo. The mortgages covered in the OCC’s report comprised 43.9 percent of all outstanding residential mortgages in the country, which total 22.7 million loans and approximately $3.8 trillion in unpaid principal balance.Mortgage performance improved across the board for the eight national banks in Q1. The share of performing first-lien mortgages improved from 93.1 percent up to 94.2 percent, the share of mortgages that were 30 to 59 days overdue declined by 7 percent year-over-year in Q1 down to 1.9 percent, and seriously delinquent mortgages (60 or more days overdue or held by bankrupt borrowers who are more than 30 days past due on their payments) made up 2.6 percent of the portfolio in Q1, a year-over-year decline by 16.4 percent, according to OCC.Foreclosure activity declined substantially year-over-year in Q1. The number of properties in the process of foreclosure as of the end of the quarter dropped down to 299,424, a decline of 30.8 percent from the same quarter a year earlier. The nearly 300,000 loans in the process of foreclosure during Q1 comprised about 1.3 percent of the loans in the portfolio. Foreclosure starts declined year-over-year by 8.6 percent in Q1, down to 83,058, while foreclosure completions dropped by 31.5 percent year-over-year down to 38,509. The OCC cites improved economic conditions and foreclosure prevention actions as the reason for the substantial decline in foreclosure activity during Q1.Home retention actions such as modifications, trial-period plans, and shorter-term payment plans totaled 188,816 in Q1, a decline of 20.6 from the same quarter a year earlier. More than 89 percent of loan modifications reduced monthly principal and interest payments, and more than 55 percent of modifications reduced monthly payments by 20 percent or more. Borrowers saved an average of $271 per month on mortgage payments with modifications in Q1, according to OCC. Meanwhile, home forfeiture actions such as completed foreclosures, short sales, and deeds-in-lieu of foreclosure totaled 47,430 during the quarter.According to OCC, out of the nearly 3.7 million modifications implemented from a seven-year period from January 1, 2008 through December 31, 2014, approximately 53 percent of them were active as of the end of Q1 2015 while 47 percent of them had exited the portfolio through either payment in full of the mortgage, involuntary liquidation, or a transfer to a servicer that was not part of the portfolio. Out of those 53 percent of active modifications at the end of Q1, totaling approximately 1.97 million mortgages, 72.2 percent of them were current and performing, 22.4 percent of the loans were delinquent, and 5.5 percent of them were in the process of foreclosure, the OCC reported. Data Provider Black Knight to Acquire Top of Mind 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago First-lien mortgage performance Foreclosures Loan Modifications OCC Office of the Comptroller of the Currency 2015-06-25 Brian Honea Brian Honea’s writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master’s degree from Amberton University in Garland. Subscribelast_img read more

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N’Diaye: No problems with Di Canio

first_imgSunderland midfielder Alfred N’Diaye has insisted there is no dissent within the camp over manager Paolo Di Canio’s brave new world. Press Association The Italian hit out at the “arrogance” and “ignorance” of some of his players after handing out seven fines in a matter of days, with two players contacting the Professional Footballers’ Association for advice amid talk of a revolt over his methods, but club sources have dismissed claims of a dressing room rebellion. And N’Diaye is adamant that neither he nor his team-mates have any problem with Di Canio’s approach, as he told The Journal: “I am in England, but I have an Italian manager, who is very similar to what I am used to from France. His mentality is no different for me. It is more different for English players, but for me it is normal.” center_img He added: “When I played in France, I am used to it. For me, football is like that. For me, it is OK. “The new manager has a new mentality. For me and everybody, it is not a problem. It is a new mentality, but we accept it. “Next season, we will move forward together. We will play better and move forward.” last_img read more

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City of West Palm Beach Makes Push to Prevent Texting and Driving

first_imgThe city of West Palm Beach and West Palm Beach Police are reminding drivers about the new texting and driving law.Watch press conference with West Palm Beach Mayor Keith James here.It went into effect on July 1, but citations won’t be issued until next January.Right now, everyone’s in a warning period.Police teamed up with the city to launch a Vision Zero Safety team.They will focus on three critical intersections in the city:Broadway between 36th and 59th Street.Palm Beach Lakes between Dixie and Village.Okeechobee Boulevard between Dixie and Indian Road.last_img read more

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Cricketing heads meet to plot way out of crisis

first_imgCRICKET  has never faced a crisis quite like this. With much of the world still deep in Covid-19 pandemic-induced lockdowns, administrators are facing an unprecedented situation. At some point in the near future, sport will resume but in what form, when and where exactly, no-one knows.Today, the chief executives of the 12 full-member countries along with the ICC management will convene via a conference call to start plotting what a new landscape might look like.Today’s meeting is merely the starting point of a process that will remain a work in progress for the foreseeable future.The ICC has said the aim of this virtual meeting – and there really only is one item on the agenda – is to check in on the health of members and how they are coping with the effects of no cricket, as well as collectively work on contingency planning and sort out priorities between the resumption of international bilateral cricket, domestic cricket and global events.Based on conversations with various boards, ESPNcricinfo lists some of the key issues that will rank high on the list of priorities to be addressed on Thursday.Men’s T20 World CupScheduled for October-November this year, this is the biggest marquee event left in 2020 outside of the IPL. Currently the ICC remains optimistic about the event going ahead in case Australia opens its doors to host the tournament.However, the tournament comprises 16 teams, which means each will need their respective government’s approval. What happens in case one of the participants is denied permission? What would be the quarantine process in individual countries? Will air travel resume completely to allow players to travel to Australia? These will be some of the questions that the chief executives’ committee (CEC) will make note of and it is clearly a complex issue as one of the officials who will be sitting on the call, said.According to one official, the fate of the T20 World Cup is the most important issue for a number of boards outside the biggest few. Those boards rely heavily on revenue distributions from the ICC and a disruption to any event – as PCB chairman Ehsan Mani warned – could have serious financial repercussions for some members. What members might be looking to discuss is a rough idea of a timeline by when a definitive decision on the tournament needs to take place.World Test ChampionshipThe WTC is nearly nine months old with the final  scheduled for July 2021. However, not all teams have played the same number of series. Pakistan head coach Misbah-ul-Haq had suggested recently that the WTC should be put on hold instead of attempting to tinker with the original format where each team is meant to play a total of six series. Not everyone agrees.One chief executive felt that with “nearly 40%” of the WTC already played, suspending was not the best option. “If we have cricket back in July even if it in bio-safe stadiums, behind close doors, I don’t see a need for it [suspending]. But it is a big if.”The ICC, it is believed, will not make a hasty decision on the WTC. One key determining factor will be what percentage of WTC series are lost when bilateral cricket resumes. If it is not a significant chunk, then the ICC will want the nine countries in the Championship to collectively work out windows in the FTP.“Like in the UK, the government is quite keen to restart sport behind closed doors because they believe it is quite good for the morale of the nation,” the official said. “It will start at different places at different times and we’ll ease back into it. That’s when the genuine rescheduling and decision making around the competitions like WTC will start.”(ESPN Cricinfo)last_img read more

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Gyan driven to end elusive Cup for Ghana

first_imgGhanaians often fret when reminded about how long the Black Stars last won the Africa Cup of Nations. Yes, 31 years ago.Almost all of Ghana’s present squad – with the exception of John Paintsil – for this month’s finals in South Africa were not born when Emmanuel Quarshie captained the Black Stars to win their last title in 1982.Different generations have tried and come close but Ghana still waits with bated breath. Another opportunity to end the long wait is now here as Asamoah Gyan leads the Black Stars to the 2013 Africa Cup of Nations.Whatever the disappointments of the last three decades, it would be unfair to underestimate the efforts of the current side.“I’m very hopeful we can break the jinx and end the long wait for the African title,” said Gyan, who at 27 is among the band of twenty-two players in the squad now who were unborn when Ghana last won the title.Gyan will be making his fourth successive appearance at the Nations Cup but cups have proved harder to come by just like goals. He has scored only five goals in the finals so far. “I’m not disturbed because my ratio of goals with the national team is impressive,” he said.“It is natural people expect you to score as striker, but it is not always so. Sometimes you have to create the chances for others to also score. I always do my best to help the team to victory.”The campaign in South Africa starts in Group B for Gyan and his Black Stars teammates who must deal with the threats of Mali, Congo DR and Niger.For the Ghana captain, it will not be easy getting out of the group stages.“No team can be underrated at this level. All four sides in the group are strong contenders. We played Mali at the 2012 edition and saw their performance. Niger, though not a big team, has a strong side and can always cause an upset.” he said. Gyan has had some rough patches along the road with the national team before being named captain last year, succeeding John Mensah.After last year’s tournament staged in Gabon and Equatorial Guinea, Gyan took a break from international football and returned four months later.Having played under a host of captains including Stephen Appiah and [John] Mensah, Gyan believes learning off them will be beneficial to the group.“I have so much respect for Appiah. He was such a great leader on both ends – on and off the pitch – and so was Mensah. They taught me a lot and with the support of my colleagues, we should deliver the ultimate,” he said.Gyan might be maturing into the Ghana’s captain and leader but ending the trophy wait might set him apart.last_img read more

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Raiders place Feliciano on IR, sign two guards

first_imgALAMEDA — With both guard spots up in the air heading in to their Week 15 road game in Cincinnati, the Raiders added Cameron Hunt and Denver Kirkland Tuesday to the 53-man roster.Jon Feliciano, who started at left guard in a 24-21 win over Pittsburgh, was placed on injured reserve with a calf injury and will miss the last three games of the season. The Raiders also waived C.J. Anderson, the former Denver running back who was added to the roster last week and was not active against …last_img read more

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Push to repeal bylaw allowing stores north of Toronto to open on

first_imgLabour groups and some politicians are pushing to repeal a bylaw that allows retailers north of Toronto to stay open on holidays such as Family Day.Councillors in York Region, which consists of nine municipalities including Markham, Vaughan and Richmond Hill, Ont., voted 17-3 in favour of the Holiday Shopping Bylaw in November.The legislation exempts all businesses from a provincial law requiring them to close on nine statutory holidays each year. They’re now able to open, if they choose, for 364 days per year — every day except Dec. 25.The Toronto and York Region Labour Council has drafted a petition urging York Region to reconsider the bylaw, saying the extra days will cut into retail workers’ valuable time with their families.Labour council president John Cartwright said that in today’s “incredibly fast-paced world,” that time is more important than ever.“Often, that’s the only guaranteed time that people know they can spend with their families — statutory holidays — and now that’s been stripped away,” he said.According to the York Region Employment and Industry Report, approximately 64,000 people are employed in the retail sector in the region. Cartwright said many of them work two or three jobs in order to get by.“You can’t put a roof over your head in the (Greater Toronto Area) working only one job at 14 dollars an hour,” he said.Ontario’s Retail Business Holidays Act requires retailers to close on New Year’s Day, Family Day, Good Friday, Easter Sunday, Victoria Day, Canada Day, Labour Day, Thanksgiving Day and Christmas Day.Some businesses are exempted, including gas stations, pharmacies and any business under 225 square metres. The law also permits municipalities to exempt themselves from the requirements.The Retail Council of Canada applauded York Region’s decision, and said it is now lobbying neighbouring Peel Region to make a similar change.“Retailers should be deciding at their discretion whether to be open on statutory holidays without restrictions imposed by governments,” the council said in a statement.Markham Mayor Frank Scarpitti was one of the three York regional councillors who voted against the bylaw, and he said there’s a growing movement to have it repealed.“I’m not even sure to what extent local municipalities are aware, or really understand the impacts of this new bylaw,” said Scarpitti, who held an event Friday with labour leaders to raise awareness of the issue.“The impact of this is not fully felt yet, obviously.”Cartwright said that many businesses initially called for volunteers to fill shifts on New Year’s Day, when the bylaw took effect, but ended up having to assign shifts.He said while employees will receive extra pay for working holidays like Family Day, he worries that may not last.“They used to get overtime pay on Sundays, when Sunday shopping first came in. But what happened over the years is that just became part of the reality,” he said.“It would only be a matter of time before this becomes the norm for those holidays as well. That’s how the market works, I’m afraid.”last_img read more

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Fog advisory for the Grande Prairie and region

first_imgAn area of dense fog has formed causing near-zero visibilities, and the fog will likely continue until late Saturday morning.  The warning covers Grande Prairie, Beaverlodge, Hythe, Sexsmith and out to Valleyview.Travel is expected to be hazardous due to reduced visibility in some locations. If visibility is reduced while driving, turn on your lights and maintain a safe following distance.See the full warning below.Statements8:06 AM MDT Saturday 17 March 2018Fog advisory in effect for:Co. of Grande Prairie near Beaverlodge Hythe and DemmittCo. of Grande Prairie near Grande Prairie and WembleyCo. of Grande Prairie near Sexsmith and La GlaceM.D. of Greenview near DeBoltM.D. of Greenview near Little SmokyM.D. of Greenview near O’Brien Prov. Park and Big Mtn CreekM.D. of Greenview near Sturgeon LakeM.D. of Greenview near Valleyview and New Fish CreekM.D. of Greenview near Wapiti and Shuttler Flats Rec. AreaNear zero visibility in fog is expected or occurring.An area of dense fog has formed. Near-zero visibilities in fog will likely continue until late Saturday morning. UPDATE – The fog advisory has ended.GRANDE PRAIRIE, A.B. – Environment Canada has issued a fog advisory for Grande Prairie and surrounding communities.The warning says near zero visibility in fog is expected or occurring. Travel is expected to be hazardous due to reduced visibility in some locations. If visibility is reduced while driving, turn on your lights and maintain a safe following distance.Please continue to monitor alerts and forecasts issued by Environment Canada. To report severe weather, send an email to [email protected] or tweet reports using #ABStorm.last_img read more

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Funnearn- a Real Money Gaming App launches IPL i.e. Intelligence Pattern Learning

first_imgNew Delhi: Funnearn a real money gaming app is launching a new edition to enhance the intelligence and mental capability of its users. Fundamentally the game is grounded on the experiments proceeded by the scientists of Primate Research Institute, The PRI to analyze and compare the memory power between chimps and humans. In the tests, a number pattern was given before them and gives enough time to memorize it. After some time, it was tested how much both memorize the pattern and amazingly at 90% of the time chimps won the tests by correcting the patterns. This can also be called Intelligent Pattern Learning, IPL, which can enhance intelligence and memory power. Also Read – The Puja carnival The new game of Funnearn brings IPL into an entertainment platform. The Funnearn game is intended to involve the users in IPL learning tests. Adopting the IPL test models, a scientifically proven method to enhance the phonetic number memory, the game tries to encompass the mental abilities like reasoning, plan, problem-solving, abstract thinking, and comprehensive analysis. It is found that Funnearn game is increasing the learning abilities of the users through active skill interaction with the games. Also Read – Wave City brings special offers this Navratra Funnearn has made the test in a different way via extensive Bumper and Carnivals on a regular basis. This amazing game provides extra prize money which can be transferred to your Paytm wallet directly. Thus money making becomes easier for the younger generation with learning. Funnearn expects to bring a new sensation in the gaming industry through their interactive learning game and aids the younger generation with their intelligence and mental capabilities. To add excitement and curiosity in the zealous gamers, Funnearn is coming with an exceptional gaming and great earning experience. As more people are embracing online games with optimism, the industry is going to see a skill-play with Funnearn. India is one of the largest online markets globally which has undergone an enormous change in the last few years. The online gaming industry is rapidly growing all over the world and has made a huge impact both economically and socially. The exponential growth in mobile gaming apps and a considerable increase in the number of people who are attracted to these games prove the on-going revolution happening in this industry. In India, the digital gaming sector is flourishing with drastic developments and technological advancements. This huge inclination towards online gaming results in a new level of technical interaction. Due to the negative impacts of games over the society which comes as an addiction, several authorities banned luck based games like gambling. The factors like internet urbanization, societal ethics, literacy and intelligence level, etc. began to influence the gaming sector and the age confronted a shift from the purely entertainment based games to simple, skill and ethically based digital games. Although the rapid shift was a challenge initially, the digital gaming sector realized the innumerable possibilities and benefits of such revolutionary games and a new trend has emerged in the industry. India is witnessing a massive change in the choices and consumption patterns of its people because of the internet-urbanization which has a major influence on the gaming sector. With the advanced technological access and innovation in the designs, skill-based games are expecting a major growth. Transparency, strict regulation, consumer protection and above all the unlimited benefits acquired from those games promote it as a major contributor to the economic and social welfare of the country. As per statistics, online gaming is yet not reached saturation. Among the infinite game developers, Funnearn has established its position as a popular mobile gaming app through its innovative and advantageous games. With Funnearn the gamers can enter in paid contests and make money with their mental ability skills. The distinct feature of Funnearn is considered to be the convenient time management in games to play and earn. The contribution of Funnearn to the new digital gaming market includes the creation of talented players and also quick money making process in online gaming.last_img read more

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Pitchers Wont Throw Strikes So Batters Are Getting Better At Hitting Bad

You see the stories everywhere. “Baseball teams are striking out more than ever,” blared an NBC Sports headline back in April. In 2015, The Hardball Times wrote a story entitled “The Strikeout Ascendant.” And the year before that, friend of the program Ben Lindbergh hosted a “rising strikeout rate symposium” on his popular podcast, Effectively Wild. Clearly, the baseball world is well aware that strikeout rates are up — way up.What’s less well-known, but equally true, is this: Baseball’s recent rise in strikeout rates has little to do with how good batters are at making contact. That’s a bit counterintuitive, I know, because strikeout rates have increased (up nearly 26 percent since 20021That’s the first year for which we have plate-discipline statistics, so that’s as far back as we can look using the data mentioned throughout this article.), and when you think of a strikeout, you usually imagine a batter taking a mighty hack and missing. And indeed, swinging strikes are up as a percentage of all pitches.But keep in mind that this isn’t only about the batters — pitchers also have a big say in the matter.And in 2009, pretty much all of a sudden, they started throwing way fewer pitches in the strike zone, as measured by Fangraphs’ zone percentage statistic.2It’s worth noting that Pitchf/x’s version of the same statistic, which uses a slightly different methodology, shows roughly the same trend, but with a different start date and a shallower slope. From 2002 (the earliest year for which we have data) through 2008, pitchers put the ball through the zone about 52 percent of the time, year in and year out. In fact, over the seven seasons from 2002 to 2008, the league-wide rate of pitches in the zone never dropped below 50.5 percent or rose above 54.2 percent. When it came to tossing strikes, MLB hurlers were a model of consistency.But during the 2009 season, pitchers threw balls in the zone just 48.3 percent of the time. In 2010, that number kept falling — to 45.4 percent! — and by 2011, the league-wide rate of pitches in the zone was just 44.6 percent. In just three years, about one out of every nine pitches that had previously been thrown in the zone started missing its mark. (Since then, MLB’s zone rate has basically leveled off: Last year, it was exactly the same — 44.6 percent — as it was in 2011.)But despite that drastic change, batters haven’t really changed how they react to pitches inside the zone. Batters still swing at basically the same proportion of pitches in the zone as they did in 2002, and they still make contact with those pitches at essentially the same rate.Instead, the big changes have come outside the zone. The trend here is striking. As pitchers started throwing outside the zone more and more — again, the really big decline in strike-throwing started around 2009 — hitters not only started swinging at more pitches outside the zone, they also started getting much better at making contact on those wayward pitches. Add it all up, and you see that instead of making contact on just 10 percent of all balls thrown outside the strike zone, as they did back in 2002, hitters made contact on nearly 20 percent of such pitches in 2016.3Note that this isn’t the same as the “contact rate” listed at FanGraphs, which only looks at balls that the batter took a swing at. This figure looks at all pitches outside the zone, which will include, for example, some pitches that were essentially unhittable or thrown as part of an intentional walk. That’s double the rate! That’s unbelievable!Let’s step back for a second, because this is a pretty counterintuitive finding. Batters are striking out more often, but they haven’t gotten any worse at their core task: hitting the ball. They’re also not getting as many good pitches to hit as they used to, but they’re about as good as they ever were at making contact on balls inside the strike zone, and far better than they used to be at making contact on balls outside the zone. Normally that should add up to swinging and missing less often, not more often. But because more of the balls they’re swinging at are outside the zone, and those balls are fundamentally harder to hit, the effect on overall contact is just about level. It’s a classic Simpson’s Paradox.So if MLB hitters suddenly started channeling their inner Vladimir Guerrero, making better contact on bad pitches, why are they still suffering so many strikeouts? We don’t really know for sure, and there’s a lot more digging to be done before anything can be said conclusively. For one thing, it’s not entirely clear which came first: pitchers throwing more outside the zone or hitters swinging at those pitches. I tested whether one month’s zone rate predicted the next month’s swing rate and vice versa, but I found almost no case for either.4The r-squared was less than 0.03 in both directions. This suggests that the complex interactions between batters and pitchers are happening on a much smaller scale than a month, and that they deserve more granular research.But here’s one possible (as-yet-untested) hypothesis for the big-picture story: Sometime in the late 2000s, pitchers began throwing more breaking pitches outside of the zone — hence the decline in zone percentage.5We know that fastball usage has dropped over the period in consideration, and given the trend in zone rate noted above, it’s not ridiculous to guess that some portion of that drop came from pitches outside the zone. At the same time — possibly out of necessity — hitters became increasingly willing to swing at pitches outside the zone, even finding some reasonable success doing it. But pitchers had another weapon: The fastball on the corner of the strike zone. Perhaps the adjustment that hitters made in order to hit breaking stuff outside the zone also made them vulnerable to hard stuff inside it — for which they were not mechanically prepared — and they started getting called out on strikes by the boatload.Again, that’s only a theory. But the fact is that batters are striking out more on called strikes in the zone even as they’re getting better at hitting pitches outside of it. So the next time you see a hitter preparing for a breaking ball out of the zone, remember: It’s not the pitches you swing at that get you. It’s the ones you don’t. read more

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