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

James White

first_imgJames White, age 55 of Greensburg, Indiana passed away on Thursday, September 19, 2019.  The son of Donald and Mary Etta (nee: Ruble) White was born on May 27, 1963.After graduating from Rushville High School, James served in the US Navy.  He was a proud  D.A.V., Disabled American Veteran.  He was currently a member of the Band of Brothers motorcycle group and formerly part of the Punishers motorcycles.His wife Alice (nee: Hersley) White preceded him in death along with his father Donald and brother Rick White.James is survived by his mother Mary Etta of Greensburg, his children, Samantha White of Butlerville and step-daughter Jessica Shepherd-Hollin;  and seven grandchildren.Visitation will be Saturday from 12:30pm -2:30pm with 2:30pm funeral services all at Meyers Funeral Home in Batesville.  Pastor Donny White will be officiating.  Burial will follow in the Rossburg Cemetery, New Point, IN with military honors by the Ripley County VFW Post 3183 and Prell-Brand American Legion Post 271.Memorials may be given to the funeral home to help the family with the funeral expenses.last_img read more

Actress Daniele Watts speaks about civil rights

first_imgThe Gould School of Law held a panel discussion on civil rights on Monday featuring actress and alumna Daniele Watts, who was involved in a controversy after she was arrested for lewd conduct in a September encounter with police. Watts, who graduated in 2007 with a degree in theatre, is known for her cinematic roles in Quentin Tarantino’s Django Unchained and the Weeds television series.Gray area · Watts, pictured, said that she and her boyfriend have often been unfairly targeted by police because she is black and he is white. – Jessica Zhou | Daily TrojanOn Sept. 11, Watts and her boyfriend Brian Lucas were mired in controversy after Watts was arrested. Watts and Lucas were in a parked vehicle near CBS Studios in Studio City, California, when the Los Angeles Police Department received a call reporting lewd acts, specifically that a black woman in floral shorts and a white man were “having sex in the vehicle with the door open.” The police officer who responded to the call asked the couple to provide him with identification to which Watts responded, based on a tape released by TMZ, “Do you know how many times the cops have been called … just because I’m black and he’s white?”In the aftermath of the arrest, Watts alleged that she was only “making out” with her partner and claimed that the police had targeted her because of her race.During the discussion, Shana Redmond, associate professor of American studies and ethnicity, described how black women’s sexuality has been criminalized. Redmond revealed that the NAACP told Watts to apologize to the LAPD.Assistant professor of history Diana Williams asked the panel about what kinds of sex society deems offensive. She said that socially accepted couples face less scrutiny when engaging in public display of affection.Watts’ talk revolved around empathy. As a theatre major, she described how during her undergraduate studies, one of her main objectives was to “put herself in someone else’s shoes” and try to feel what it’s like to be somebody else.Watts said that on a previous encounter with the police in the city of Loma Linda, she and her partner were approached by officers because of a report of a “suspicious black and white couple.” After the incident, she and her partner had agreed to deal with such interactions in a graceful and respectful manner.Watts also said, however, that the Sept. 11 incident was the fourth time she was forced to deal with the police since she shaved her head. She admitted that during the past interactions with the police, she had attempted to be as calm and polite as possible.Watts also stated during the discussion that the police sergeant on the scene told her boyfriend that “[Watts] needs to learn she doesn’t get to dictate what happens.”Jacob Bradley, a senior majoring in philosophy, politics and law, said that he was trying to be as objective as possible and that attending the discussion provided him with a more fair view of the events.“When I listened to the audio recordings, she sounded blameworthy, but I didn’t know that the police had edited the recordings before it was given to TMZ. Now I feel I have more of a balanced view on the incident,” Bradley said.The panel discussion received a significant amount of media attention and reporters from local networks, including CBS and KCAL9, were present for the event.Watts thanked the panel and the guests for coming, as she said discussions like these help raise awareness of racial issues in America.last_img read more