Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Share Save CoreLogic releases monthly reports on delinquencies and loan performance for U.S. mortgages. The company on Tuesday published data covering September 2020, which show that, nationwide, 6.3% of mortgages are 30-plus days past due.Numbers reported in CoreLogic’s Loan Performance Insights, which include mortgages in foreclosure, represent a 2.5-percentage point increase in the overall delinquency rate compared to September a year ago, when it was 3.8%.“Although delinquencies remain high, it’s clear the economy has passed an initial stress test. High home equity balances and structural protections put in place as a result of the Great Recession contributed to surviving this test,” CoreLogic’s President and CEO Frank Martell said. “Housing demand remains strong, and rates low, which provides optimism that the housing market will continue to be a bright spot in this COVID-ravaged economy.”The rate and stages of delinquencies, according to CoreLogic, break down as follows:Early-Stage Delinquencies (30 to 59 days past due): 1.5%, down from 1.9% in September 2019, and down from 4.2% in April when early-stage delinquencies spiked.Adverse Delinquency (60 to 89 days past due): 0.7%, up from 0.6% in September 2019, but down from 2.8% in May, when adverse-stage delinquencies peaked.Serious Delinquency (90 days or more past due, including loans in foreclosure): 4.2%, up from 1.3% in September 2019, but down slightly from 4.3% in August.Foreclosure Inventory Rate (the share of mortgages in some stage of the foreclosure process): 0.3%, down from 0.4% in September 2019. The September 2020 foreclosure rate has stayed at 0.3% for six consecutive months, which was the lowest since at least January 1999.Transition Rate (the share of mortgages that transitioned from current to 30 days past due): 0.8%, unchanged from September 2019. The transition rate has slowed since April 2020, when it peaked at 3.4%.Homeowners who lapsed on mortgages in earlier 2020 “continue to move through the delinquency funnel,” note the report’s authors. Foreclosures remain low, due to government intervention through the CARES Act and the Frank-Dodd Act aimed at protecting consumers from risky lending practices. Serious delinquencies, those 90-plus days past due, have leveled out for the first month since April, according to the survey. According to CoreLogic, a record amount of home equity fueled by rapid home price growth, also provides a buffer against both delinquency and foreclosure.”Our analysis of CoreLogic public records shows that more than one-half of all home mortgage loans created since the onset of the pandemic have been no-cash-out refinance,” said Dr. Frank Nothaft, CoreLogic’s Chief Economist.“By reducing their mortgage rate with these types of loans, homeowners have been lowering both their interest expense and risk of delinquency.”By state, each of them in September reported an annual increase in overall delinquency rates, the report covering September showed.For months, popular tourism destinations showed the highest increases, with Nevada (up 4.9 percentage points), Hawaii (up 4.7 percentage points), and Florida (up 4 percentage points) again topping the list for gains in September.Indeed, nearly every metro area logged an increase in overall delinquency.Lake Charles, Louisiana, where Hurricane Laura hit in August, experienced the largest annual increase of 10.7 percentage points. Other metro areas with significant overall delinquency increases included Odessa, Texas (up 10.3 percentage points), Midland, Texas (up 7.9 percentage points), and Kahului, Hawaii (up 7.5 percentage points).The next CoreLogic Loan Performance Insights Report featuring data for October 2020 will be released on January 12, 2021. For ongoing housing trends and data, visit the CoreLogic Insights Blog at corelogic.com/insights. December 8, 2020 1,046 Views 2020-12-08 Christina Hughes Babb Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Related Articles Demand Propels Home Prices Upward 2 days ago Reasons for Optimism Despite Increased Delinquencies Previous: MBS Represent ‘Strong Source of Capital’ for Homeowners Next: The Only Constant is Change in Daily Dose, Featured, Market Studies, News The Best Markets For Residential Property Investors 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily Home / Daily Dose / Reasons for Optimism Despite Increased Delinquencies Demand Propels Home Prices Upward 2 days ago About Author: Christina Hughes Babb Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribe
Energy Minister Richard Harrington confirmed on Wednesday that up to £557 million will be made available for less established renewable electricity projects as part of the UK government’s Clean Growth Strategy, to drive economic growth and clean up the energy system.Since 1990 the UK’s emissions are down by more than a third while the economy has grown by two-thirds. Low carbon generation provided more than half (52%) our electricity this summer, according to National Grid, while PwC analysis shows the UK decarbonising faster than any other G20 nation.The Clean Growth Strategy will be published this week, UK Government stated.As part of the strategy, developers will compete for up to £557 million of funding in Contracts for Difference auctions which drive down energy costs for consumers and increase business confidence.Energy Minister Richard Harrington said: “The government’s Clean Growth Strategy will set out how the whole of the UK can benefit from the global move to a low carbon economy.“We’ve shown beyond doubt that renewable energy projects are an effective way to cut our emissions, while creating thousands of good jobs and attracting billions of pounds worth of investment. The Clean Growth Strategy will look across the whole of the economy and the country. It includes ambitious proposals on housing, business, transport and the environment, as well as the power sector. It will also show how actions taken to tackle emissions have helped to reduce energy bills for households.”The next Contracts for Difference auction is planned for spring 2019.
Liverpool boss Brendan Rodgers hailed Steven Gerrard’s enduring quality after watching him complete a century of Barclays Premier League goals at Newcastle. He said: “It’s a monumental contribution. I have watched him play for many years as a young player and probably for me, his best Premier League goal came at this ground when he played against Newcastle. “He scored an absolute screamer here from a free-kick. But he’s an incredible player and I am fortunate enough that I get to know him as a man as well. “As a captain, he has been brilliant for me. He understands the manager’s role and respects it. “He is a great player who has got many more goals to come as well. You see his fitness level – people talk about him and his fitness and how is he at 33? “Well, he’s played two really tough international games, played at a high level and he has also got a really good performance in, so he is still fresh and looking very, very good.” A thrilling encounter lifted off after 23 minutes when Newcastle midfielder Yohan Cabaye smashed a dipping 30-yard shot across goalkeeper Simon Mignolet and inside the far post. However, the Reds were back in it before the break when central defender Mapou Yanga-Mbiwa hauled back Luis Suarez inside the box and referee Andre Marriner, for the third successive time in a Newcastle game, produced a red card. Newcastle boss Alan Pardew said: “I thought it was a tough call. I don’t think Mapou really pulled him down in a manner that was a definite sending-off. “He got a little piece of him, he was the last man and I suppose by the letter of the law, he had to go. I haven’t got a massive problem with it.” Gerrard calmly dispatched the resulting penalty and the visitors looked to be set fair. However, substitute Paul Dummett, a home-grown left-back who had been asked to plug the gap in central defence, turned up at the far post 12 minutes after the restart to side-foot home a Cabaye free-kick and restore the Magpies’ lead. Liverpool laid siege to the home goal and finally got their reward 18 minutes from time when Daniel Sturridge headed Suarez’s cross past keeper Tim Krul, and it took a superb injury-time save from the Dutchman to keep out Suarez’s free-kick. Pardew was delighted with the resilience shown by his team in front of an appreciative home crowd on a day when several hundred fans had earlier staged a march to protest about owner Mike Ashley’s running of the club. He said: “We showed that, that is in the group, that we can fight when we need to and therefore I am immensely proud of the whole day, really. “Our fans were brilliant – Steven Gerrard coming to take a corner and being applauded by our fans and stuff like that, it was just a great day for football. “If Brendan is slightly disappointed, he shouldn’t be because he’s got a good team and I think we perhaps just deserved the point. “I enjoyed Paul Dummett’s goal because we have had him since he was nine. “Paul has had to come through some really good class players here to get as close as he has to get that opportunity he got. “It’s great for the academy and great for us that he scored that goal, and his little bunny-hop after was even funnier, so he’ll get a bit of teasing about that.” The 33-year-old England captain scored his 100th league goal from the penalty spot three minutes before the break as the Reds twice came from behind to claim a point in a 2-2 draw with the 10-man Magpies. Rodgers later saluted Gerrard, who led his country to qualification for the World Cup finals in Brazil during the international break, and predicted there is still more to come. Press Association