Bracing for Household Debt Spikes

first_img Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago By Q4 2019, the US household debt per capita hit the all-time high of $42,935.13 after a steady increase from Q3 2013, according to LearnBonds.  Mortgage debt, specifically, hit $9.56 trillion, a record high.Additionally, just 0.89% of all loans were non-performing in Q4, but according to the AEI Housing Center, with many homeonwers entering forbearance, the housing industry may need to brace for a delinquency spike.AEI said delinquencies could soar in a steep recession, even with forbearance. The report also said there could be a drop in loan originations in both the present and long term.The drop may be attributed to the reduced demand, the difficulty to close on home sales and mortgage transactions, extended timelines, and reduced capacity brought on by growing forbearance calls.Additionally, potential borrowers may have lower credit scores, debt-to-income ratios, and down payments. AEI also said many originators and servicers “will fail or close up shop.”The report also projects the Non-Qm market to recover slowly, as many Non-QM originators have already stopped taking in new applications.AEI noted that 93% of single-family mortgages are held by federal agencies, 64% are guaranteed by the GSEs and Ginnie Mae and covered by the CARES Act, and 29% consists of loans held by banks and credit unions. The remaining 8% of single-family loans are held by a variety of servicers and are not covered by the CARES Act.Ginnie Mae announced the issuance of its mortgage-backed securities (MBS) totaled $55.21 billion in March and provides financing for more than 211,000 homeowners and renters.The total outstanding principal balance for Ginnie Mae loans was $2.14 trillion—an increase from March 2019’s $2.05 trillion.AEI’s report revealed 4.31% of Ginnie Mae loans were in forbearance, compared to 1.69% of loans serviced by the GSEs.The analysis states that as of April 7, these shares have continued to increase and that it is “reasonable to project” that by the end of April, nearly 10-15% of Ginnie Mae loans and 4-8% of GSE loans will be in forbearance. The Best Markets For Residential Property Investors 2 days ago April 28, 2020 1,283 Views debt Delinquency 2020-04-28 Seth Welborn About Author: Seth Welborn Demand Propels Home Prices Upward 2 days ago Share Save Bracing for Household Debt Spikes Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Log In Virtually For the LL100 Servicer Summit Next: The Future of Auction Salescenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Home / Daily Dose / Bracing for Household Debt Spikes in Daily Dose, Featured, Investment, News Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: debt Delinquency Related Articles Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer.  Print This Post Subscribelast_img read more

Hammock Camping – What to Pack to Keep You Happy on the Trail

first_imgWhen planning for a backpacking trip, for most people, a tent is at the top of the “what to pack” list.  However, there is a fast-growing population of hammock campers.  People are making the switch for their car camping trips, as well as their long-distance backpacking excursions. And now, with all the lightweight hammock accessories available, hammock camping has become even more of a no-brainer.   Here’s what we suggest you add to your packing list to make sure you stay dry and warm on your next hammock camping trip. Hammock and Suspension StrapsFinding the right hammock for your needs is essential!  Weighing in at only 9.8 ounces, the ENO SuperSub™ Hammock shaves weight without sacrificing comfort.  The SuperSub™ has the same spacious dimensions as the top selling DoubleNest™ Hammock and an impressive 300lb weight rating.  Designed with 30D ripstop nylon and aluminum toggles, this lightweight hammock combines with the Helios Suspension System to give you all the ENO creature comforts in a trail ready package.Rain ProtectionA hammock rainfly can provide just as much foul-weather protection as any tent fly can offer.  The other notable thing about some hammock tarps is that they can be mulit-purpose.  When not being used over a hammock they can be used to keep your kitchen area dry, or as a sunshade.  The ENO ProFly Sil has six guy points and sealed seams, giving it a streamlined shape ideal for weathering sudden downpours, or building a water-front basecamp.  It is perfect for campers looking for lightweight weather protection.Bug ProtectionNot only are insects annoying when settling in for the night of camping, but they can also be a health risk due to their ability to carry diseases.  You can protect yourself without adding a lot of extra weight to your pack.  The ENO Guardian SL is the perfect insect protection choice for the minimalist backpacker.  The Guardian SL features a streamlined construction, sleeve-like access, no-see-um netting, and conforms to all ENO Hammocks for an insect-free haven.InsulationIf you have ever hammock camped, you know that it can get cold fast once the temperature drops.  Cold Butt Syndrome(CBS) is real!  While most campers think they can use their sleeping bag to fight the cold, it’s not very effective.  When sleeping, your body weight will compress the loft in the fill, making it lose its insulating qualities.  By hanging an underquilt around your hammock you will trap the warm air between yourself and the insulation, keeping you warm and cozy all night.  An underquilt will add weight to your pack, but you will quickly forget about these extra ounces after a warm nights sleep.  The ENO Blaze UnderQuilt is made with sustainably sourced Downtek® water repellent down, a ripstop nylon shell, and a moisture repelling DWR finish to guarantee that you’ll stay warm and dry.These are just a few of our tips to help you get started in hammock camping.   Most importantly, have fun, stay safe, and relax! For more information, visit www.ENOnation.comlast_img read more