Predicting Homeowner Delinquency Risk

first_img Demand Propels Home Prices Upward 2 days ago Delinquency mortgage 2020-05-20 Seth Welborn Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Delinquency mortgage Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Predicting Homeowner Delinquency Risk The Best Markets For Residential Property Investors 2 days ago 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. Previous: OCC Finalizes Community Reinvestment Act Rule Changes Next: Do Forbearance Applicants Need Forbearance? May 20, 2020 1,709 Views About Author: Seth Welborn Related Articlescenter_img Home / Daily Dose / Predicting Homeowner Delinquency Risk The Best Markets For Residential Property Investors 2 days ago  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily February marked the 26th consecutive month of falling annual overall delinquency rates, according to CoreLogic. However, as the coronavirus (COVID-19) pandemic continues to impact the economy, and claims for unemployment insurance reach record highs, homeowners are at an increased risk of becoming delinquent in the coming months. The nation’s overall delinquency rate was the lowest for a February in at least 20 years. In that month, 3.6% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This represents a 0.4% decline in the overall delinquency rate compared with February 2019.”Delinquency and foreclosure rates were at a generational low in February as the U.S. unemployment rate matched a 50-year low,” said Frank Nothaft, Chief Economist for CoreLogic. “However, the pandemic-induced closure of nonessential businesses caused the April unemployment rate to spike to its highest level in 80 years and will lead to a rise in delinquency and foreclosure. By the second half of 2021, we estimate a four-fold increase in the serious delinquency rate, barring additional policy efforts to assist borrowers in financial distress.”In February, for the fifth consecutive month, no states posted a year-over-year increase in the overall delinquency rate, and Mississippi and Maine (both down 0.9 percentage points) recorded the largest declines. Only four metropolitan areas recorded small increases in overall delinquency rates and eight recorded increases in serious delinquency rates.“After a long period of decline, we are likely to see steady waves of delinquencies throughout the rest of 2020 and into 2021,” said Frank Martell, President and CEO of CoreLogic. “The pandemic and its impact on national employment is unfolding on a scale and at a speed never before experienced and without historical precedent. The next six months will provide important clues on whether public and private sector countermeasures—current and future—will soften the blow and help us avoid the protracted, widespread foreclosures and delinquencies experienced in the Great Recession.”The share of mortgages that transitioned from current to 30-days past due was 0.9% in February 2020, down from 1% in February 2019. By comparison, in January 2007, just before the start of the financial crisis, the current-to-30-day transition rate was 1.2% and peaked in November 2008 at 2%. Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Share Save Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

CGG Wraps Up Seismic Survey for FAR in Australia

first_imgCGG has completed seismic acquisition across WA-458-P permit in Australia for FAR Limited.Late last quarter FAR concluded stakeholder engagements with CGG to join in the Davros Extension multi-client 3D survey.The acquisition started in mid-December using the MV Geo Coral and finalized in mid-January.FAR anticipates receiving the final processed data in H2 2019.This new data will be used for detailed mapping of the prospects which have been identified, leading to selection of potential candidates for drilling in WA-458-P.FAR intends to farm down its high interest in WA-458-P after completing its evaluation of the permit using this new seismic data, the company noted.FAR managing director, Cath Norman, said, “It is great to finally complete the seismic over the WA-458-P permit. Offshore Western Australia has seen a resurgence of activity following the Dorado discovery and FAR looks forward to completing this work on the block, aimed at identifying a drillable prospect, and then bringing in a partner for the drilling.”last_img read more

Clichy pleased with season start

first_img Last year the story was different as they never truly shook off a sluggish start and were unable to mount a strong defence of their title. Clichy, 28, said: “Last season was last season – it has gone. “There is nothing we can do about it but it is always nice to start the season they way we did, in front of the fans as well. “It was a great performance from the strikers to the defenders and we cannot ask for more.” Manchester City defender Gael Clichy believes the team met their expectations in terms of style and substance in their season-opening victory over Newcastle. Press Association Clichy feels they impressed on both required fronts as they overran Newcastle from the outset to win with slick attacking football. The Frenchman said: “When you play for a team like City you always want the three points. “The ideal game is to play attractive football, score goals and create chances but at the end of the day the most important thing is three points. “On Monday night we did that, with the way we played as well. We can be happy with the result. “It was a good performance defensively and offensively and hopefully we can carry on like this. It was a great game. “Away from home it will be more difficult but it is a good way of starting the season. We are going to play like this (in approach) from today to the last game.” City’s performance evoked memories of when they launched their title-winning 2011-12 campaign with a 4-0 win over Swansea. They went on to win 12 and draw two of their first 14 games to lay the foundation for a memorable season. City thrashed the 10-man Magpies 4-0 at the Etihad Stadium on Monday to get their Barclays Premier League campaign off to a flying start. It was also a perfect first game for new manager Manuel Pellegrini, who has been told his task is not only to win silverware at City, but to do so in style. last_img read more