Serious Delinquencies Spike in Texas, Florida

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago in Daily Dose, Featured, Foreclosure, News Subscribe The Best Markets For Residential Property Investors 2 days ago February 13, 2018 2,520 Views Previous: CFPB Asked to Repeal Mortgage Servicing Amendments Next: Trusting Data: How Technology Can Lead to Paperless Documentation Tagged with: CoreLogic Delinquencies Florida Foreclosure Mortgages Puerto Rico Rates Texas Sign up for DS News Daily  Print This Post Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Share Save Serious Delinquencies Spike in Texas, Florida Related Articles Demand Propels Home Prices Upward 2 days ago CoreLogic Delinquencies Florida Foreclosure Mortgages Puerto Rico Rates Texas 2018-02-13 Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago Except for in the hurricane-hit states of Florida, Texas, and Puerto Rico, delinquency rates across the U.S. declined in November 2017 on a year-over-year basis, according to the Loan Performance Insights Report released by CoreLogic on Tuesday.The report examines all stages of delinquency as well as transition rates, which indicate the percentage of mortgages moving from one stage of delinquency to the next. Nationally, the report indicated, 5.1 percent of mortgages were at some stage of delinquency in November 2017, down from 5.2 percent recorded during the same period in 2016, showing a decline of 0.1 percent.The foreclosure inventory rate, which measures the share of mortgages in some stage of the foreclosure process, was 0.6 percent, down 0.2 points from 0.8 percent in November 2016. The report indicated that the foreclosure rate had held steady since August 2017 and was the lowest level since June 2007. However, transition rates for 60-day and 90-day delinquencies rose in the hurricane-affected states of Texas, Florida and Puerto Rico.“Serious delinquency rates are up sharply in Texas and Florida compared with a year ago, while lower in all other states except Alaska. In Puerto Rico, the serious delinquency rate jumped to 6.3 percent in November, up 2.7 percentage points compared with a year before. In the Miami metropolitan area, serious delinquency was up more than one-third from one year earlier to 5.1 percent, and it more than doubled to 4.6 percent in the Houston area,” said Dr. Frank Nothaft, Chief Economist for CoreLogic. According to the report, the rate for early-stage delinquencies remained unchanged on a year-over-year basis at 2.2 percent in November 2017. However, it was down 0.1 points from 2.3 percent in October 2017. The share of mortgages that were 60-89 days past due was up 0.2 points on a year-over-year basis at 0.9 percent in November 2017 and remained unchanged from the month earlier. The serious delinquency rate, reflecting loans 90 days or more past due, was 2 percent in November 2017, up from 1.9 percent in October 2017 but down 0.3 points year over year from 2.3 percent in November 2016. Prior to November 2017, the serious delinquency rate had held steady for five consecutive months at 1.9 percent—the lowest level for any month since October 2007 when it was also 1.9 percent. Home / Daily Dose / Serious Delinquencies Spike in Texas, Florida Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Damage caused by LGH flooding could cost 10 million euro more than insurance payouts…

first_imgHomepage BannerNews 365 additional cases of Covid-19 in Republic RELATED ARTICLESMORE FROM AUTHOR Further drop in people receiving PUP in Donegal Gardai continue to investigate Kilmacrennan fire Dear Mr Murphy Man arrested on suspicion of drugs and criminal property offences in Derry WhatsApp I refer to the above.You were quoted in an RTE report of 6 August 2014 as stating that an investigation into the flooding incident that occurred on 5th August 2014 was ongoing and that:”We are not going to speculate as to what these findings will be. We will publish the result of the investigation as soon as is feasible. More than anyone else in Donegal, we want answers.”Taken at face value and in isolation a reader of those words might have expected a very prompt and comprehensive report to issue where failures would be indentified and measures set out to apportion responsibility to all persons involved in construction of the new A&E building at the Hospital which ultimately led to both floods at the Hospital. The public would also expect that persons would be held accountable for any failures contributing to the very substantial losses occasioned to the State as a result of the 2 floods – there will be no satisfactory “answers” without accountablity.However it is now almost 9 months later and you have still not produced any investigation report despite your statement in August 2014 that “More than anyone else in Donegal, we want answers.”It does not appear to me that there is any urgency being given to dealing with this matter. This is totally undermining any public confidence which might have existed and instead the Donegal public simply do not believe that full and proper explanations of all relevant matters will be produced. I have examined the first ‘report’ (if it can be called that) which was produced in the aftermath of the July 2013 flood. Unfortunately that report did not address the underlying flood risks which existed at the Hospital site which risks subsequently were in action again in the flooding incident of August 2014.At this stage you will have seen the report prepared by Donegal County Council which has indentified various failures of the HSE as regards the planning process. This report makes it clear that the concerns of Donegal County Council planners were not addressed by the HSE and this is a matter that needs detailed explanation.It is also the case that various other issues need to be addressed once and for all:In seeking planning permission for the new A&E building what consideration was given to the number of pre-existing reports which identified a clear flooding risk at the Hospital? Were these pre-existing reports ignored or not understood? Who is responsible for that – is it HSE management and/or the professional engineers employed on the new building development?When there was a flood during construction of the building in 2009, what consideration was then given to the obvious propensity for flooding at the hospital and if no consideration was given or inadequate consideration was given, who is responsible for that – is it HSE management and/or the professional engineers employed on the new building development?How is it that no one at the Hospital, either management or those employed to advise on the new A&E building was able to identify the obvious flood risks that existed up stream both from the river up stream and also from storm water which could travel down the main public road and into the site? Why were drains not installed at the perimeters of the site?Following the July 2013 flood why were the above obvious flood risks not immediately addressed, especially in circumstances where same were repeatedly highlighted by Donegal County Council planners in the context of the HSE planning application then submitted in relation to the culvert pipe only. Were the HSE engineers authorised by the HSE to advise council planners that “it was not their remit to address potential flooding around the remainder of the hospital”. Who do the HSE say is responsible for not dealing with these matters in 2013 which subsequently allowed the August 2014 flood to occur?What has been the precise cost to the State arising from the 2013 and 2014 floods – in other words what is the precise deficit to the State between the damage caused and the actual amount of insurance compensation obtained. This has been speculated to be in the region of 10 million Euro and clarity is required on this.Have the HSE taken advice on whether it has any recourse against 3rd parties for the loss to the State occasioned by the 2 floods and if so what is that advice?How many out-patient appointments were delayed by the 2 floods and have the HSE identified how many operations were delayed by the 2 floods?When will the out- patient services that have been moved off site in the aftermath of the first flood be returned to the hospital campus and what has been the cost of moving out-patient services off site to the privately owned premises? Will the HSE confirm a return date for these out-patient services to the Hospital campus to minimise any further costs to the State.These are the questions which the Donegal Public want answers to and if as you have been previously quoted as saying “More than anyone else in Donegal, we want answers”, I trust that the much delayed report will deal with all of these matters. The Donegal Public expect that persons will be held accountable for any failures contributing to the very substantial losses occasioned to the State as a result of the 2 floods and should any report be produced which ignores these issues, then these matters will remain to be addressed.I await hearing from you to confirm when a report will now be issued and to confirm that all of the above matters will be addressed in full within that report.Yours sincerely The letter in full – Re: Floods at Letterkenny General Hospital in July 2013 and August 2014 – the need for accountability Google+ WhatsApp Twitter Facebook By admin – April 29, 2015 Google+ Pinterest A Donegal Councillor says there is speculation that the amount paid out by insurers following flooding at Letterkenny General Hospital could be as much as 10 million euro less than the actual costs incurred.Cllr Dessie Shiels has written a letter to the Manager of Letterkenny General Hospital outlining a number of questions which he says must be answered in the wake of the flooding in 2013 and 2014.In his letter to Hospital Manager Sean Murphy, Cllr Shiels says a number of questions need to be answered.He asks what consideration was given at the planning stage to pre-existing reports which identified a clear flooding risk at the Hospital, and also asks for details of a reported flood in 2009 during the construction phase, and what the reaction to that event was.He also raises a number of questions abvout the 2013 flood, and the response to it particularly in respect of the application in relation to the new culvert.He also raises financial issues, including the cost to the State arising from the 2013 and 2014 floods. Cllr Shiels says there is speculation that there was a 10 milliion euro difference between the damage caused and the actual amount of insurance compensation obtained, and clarity is required on this. Pinterest Facebook Councillor Dessie Shiels Main Evening News, Sport and Obituaries Tuesday May 25th Damage caused by LGH flooding could cost 10 million euro more than insurance payouts – Shiels Previous article“Ruaille Buaille” catchup – 28/04/15Next articleQuigley’s opponent to be named tonight admin 75 positive cases of Covid confirmed in North Twitterlast_img read more


first_imgIt didn’t take long to notice that the Germans have no equivalent of the verb “to facebook”.So I thought I’d coin one. “Facebookieren.”It uses the conventional German trick of adding “-ieren” to pretty much any foreign word (cf. “abandonnieren”, “kommandieren”, “absorbieren”) to make it from a noun into a verb Germanise it (or should that be “germanisieren” it). So far I’ve only succeeding in getting one other person to start using this word. Hopefully my success will improve.Does anyone have any further suggestions for some new German coinages?last_img

Thorn in side of developers

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​Icelandic scheme plans alternatives move

first_imgThese investments would be made via funds rather than directly, he said, and Frjálsi plans to pick the external managers to provide this exposure.
The fund envisages achieving an allocation of 3-4% to this asset category in three years’ time, he said, as the category would take some time to build up.
Frjálsi has been growing fast due to solid inflow and sound returns in the last few years, and currently has total assets of around ISK285bn (€2bn), he said.Iceland’s economic collapse of 2007/8 put a stop to the process of geographical asset diversification that the country’s pension funds had been engaged in, because capital controls were abruptly imposed and restricted foreign investment other than reinvestments.But with the gradual relaxation of these limits in the last few years, the funds are now making up for lost time, working to raise their allocations to foreign assets.
However, up to now, including alternatives has been difficult for funds with similar structures to Frjálsi, Waagfjörð explained.
In 2009, legal changes opened up the possibility for pension scheme members to get early redemptions to their individual defined contribution pensions (IDC), which in turn meant Frjálsi had to have a high level of liquidity in its investment portfolios.
“Also, at that point in time the fund members were understandably quite risk averse, and many moved their IDC from a more risky path, where the nature of assets tend to be less liquid, to a more risk-averse path,” he said.
With capital controls now lifted, and the possibility of an early redemption gone, the situation is more stable and the fund has seen it as appropriate to diversify further and build up an exposure to foreign alternatives, he said.Looking ahead, the ratio of fixed income, other than government bonds, will continue to increase within Frjálsi’s portfolios, as has been the trend of recent years.
Under current market conditions, the pension fund said treasury bonds would not necessarily yield enough to meet future disbursements of collective defined contribution pensions.
“As in previous years, the weight of domestic bonds other than government bonds has, therefore, increased in the fund’s investment policy for 2020,” said Waagfjörð.Meanwhile, Iceland’s Financial Supervisory Authority (FSA) reported earlier in December that the country’s pension savings grew to just over ISK5trn (€36bn) at the end of the third quarter.The data on total assets of the country’s pension insurance and private pension savings published by the regulator showed that pension funds’ foreign assets stood at around ISK1.43trn on 30 September, up 4.3% or ISK59bn from the end of the second quarter.These foreign assets accounted for 33% of total assets, the FSA said, stating in its report that this proportion had never been greater. Icelandic pension fund Frjálsi is now increasing its allocation to foreign alternative investments in its investment policy, in the latest phase of its drive to boost its allocation to foreign assets.
In the Reykjavik-based fund’s newly-published investment policy for 2020, the fund said it plans to continue the ongoing development of the last few years, and increase the diversification of its foreign portfolio further.
“In addition to investments in foreign equities and bonds, alternative foreign investments are now on the list,” Hjörleifur Waagfjörð, head of Arion Bank´s institutional asset management, told IPE.
He said that for Frjálsi, alternative asset classes now being considered include real estate, private equity, private credit, infrastructure and commodities, which would together make up a new asset category for the fund.
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