Mortgage Industry ‘Not Out of the Woods’

first_img Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago June 29, 2020 1,802 Views Previous: Personal Incomes Dip Due to COVID-19 Next: Legislation to Reverse CRA Changes Approved by House Subscribe Black Knight’s Director of Market Research told CNBC in an interview that rising forbearances may continue.“We’re not out of the woods yet in terms of the coronavirus impact on the mortgage and housing market,” said Andy Walden, Director of Market Research, Black Knight.Walden said a large number of forbearances were expected to expire at the end of June but borrowers could be deciding to stay in plans longer than expected.Another item to watch, he said, are unemployment benefits, as many plans are expected to expire at the end of July. He said Black Knight will be watching this trend to see if it impacts the share of mortgages in forbearance.After three weeks of declining mortgage loan forbearance activity, forbearances surged last week, according to the McDash Flash Forbearance Tracker from Black Knight. As data revealed 8.8% of all active mortgage loans are in a state of forbearance.This is up from 8.7% of loans that were in active forbearance as of the previous week.Forbearances peaked the week of May 22 before falling for about three weeks. However, the increases experienced over the past five days have reversed more than half of the declines experienced over the previous few weeks.In total, about 79,000 additional loans went into forbearance this week, bringing the total number of loans in forbearance to 4.68 million.The most recent loan forbearance numbers mean servicers will have to pay $3.5 billion per month on behalf of GSE-backed loan holders, plus an additional $1.4 billion in taxes and insurance on behalf of these loans.View the full video in the embed below. Coronavirus 2020-06-29 Mike Albanese About Author: Mike Albanese Related Articles in Daily Dose, Featured, News, Webcasts Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville.  Print This Post Mortgage Industry ‘Not Out of the Woods’ Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / Mortgage Industry ‘Not Out of the Woods’ Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Tagged with: Coronavirus Sign up for DS News Daily Share Save Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days agolast_img read more

Warning for Irish holidaymakers as heatwave returns to Europe

first_imgThe Irish Travel Agents Association (ITAA) has issued advice to Irish holidaymakers travelling to Northern Europe this week as temperatures soar to 40 degrees.Record-breaking temperatures have hit Northern France while parts of Belgium, Luxembourg and the Netherlands are also feeling the heat.Pat Dawson, CEO of the ITAA, said, “Our members are advising holidaymakers staying in affected areas to stay hydrated throughout their stay and to avoid direct sunlight during the hottest periods of the day. We are encouraging all travellers to follow the advice of the local authorities which are implementing measures to tackle the extreme heat.” European destinations have introduced air-conditioned rooms, water mists, temporary fountains and other measures to tackle the hot temperatures.The ITAA always recommends that holidaymakers check the Department of Foreign Affairs’ website for further information before travelling and to download the TravelWise app, which is designed to help Irish citizens to stay safe and informed while travelling, living or working overseas.Warning for Irish holidaymakers as heatwave returns to Europe was last modified: July 24th, 2019 by Rachel McLaughlinShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

DeGale joins Hennessy and plans return

first_imgJames DeGale has signed a deal with promoter Mick Hennessy and will defend his European super-middleweight title on 13 October.Harlesden’s former Olympic champion has been involved in a long-running dispute with his former promoter and manager Frank Warren and has fought only once this year.DeGale, who beat ex-world champion Cristian Sanavia in April, will fight at the Glow, Bluewater, with his opponent yet to be confirmed.DeGale and Warren have split.The bill will be screened on Channel 5 and is also expected to include Chris Eubank Jnr.“I am over the moon with my new long-term promotional deal with Hennessy Sports,” said DeGale.“I can’t wait to get back in the ring on 13 October and show the millions of viewers on Channel 5 what I’m all about.”DeGale, 26, lost to arch rival and fellow West Londoner George Groves on a majority points decision in May last year.He bounced back by beating Piotr Wilczewski to become European champion but problems in his relationship with Warren came to a head when DeGale announced in January that the pair had split.Warren insisted the boxer remained under contract with him, leading to several months of wrangling.See also:DeGale tipped to silence ‘mental’ criticsDeGale claims he has split from WarrenDeGale overpowers Sanavia to retain titleDeGale lines up next title defencePavlik clash could be an option for DeGaleDeGale to defend title against Mohoumadi DeGale keen to produce sharper displayDeGale aiming to end the year in styleUpbeat DeGale eyeing title showdownFollow West London Sport on TwitterFind us on Facebooklast_img read more

Crystal Mysticism Invades Astrobiology

first_imgMystical ideas about the life-giving power of crystals usually go with New Age movies and storefronts.  Science is above all that, right?  Then what is a reader supposed to think of this opening line by Leslie Mullen on of the greatest mysteries about the origin of life is how the necessary ingredients consistently came together in a workable way.  On a planet full of raw chemical materials, what happy accident of nature led to the first tiny glimmer of life?To Alexander Graham Cairns-Smith, that glimmer may owe something to the sparkle of a crystal….Proponents of intelligent design (ID) have long argued that the specified complexity of the DNA code differs from the repetitive order of crystal structures.  Cairns-Smith (U of Glasgow) recognizes that repetitive patterned order is more common in the inorganic world than in living cells.  He knows that DNA is not repetitive.  It contains highly-specific sequences, like language.  “One of the miracles of life, to my mind, is the accuracy with which DNA gets itself replicated in the cell,” he said.  “It has to be that unbelievably accurate, otherwise we’d all die out in no time.”  So far, the evolutionist agrees with the ID position.  In the piece, though, he compared the replication of crystals with DNA replication – the basis of heredity.  Where did the genetic information in DNA come from, though?In 1949, the Irish scientist J.D. Bernal suggested that clay minerals may have created a meeting place for life’s first molecules.  Such a scenario could explain how the randomly dispersed molecules of life managed to come together in the diffuse primordial soup.Cairns-Smith’s idea takes Bernal’s theory a step further.  In his view, clay mineral layers not only attracted certain chemicals from the environment to their surfaces, the mineral layers also acted as the first genetic information carriers, much as the base pairs in DNA do today.Cairns-Smith attributed the origin of genetic information to random stacks of clay crystals that were able to make copies of themselves.  Mixed-layer crystals might have acted as primitive information carriers, he proposed.Cairns-Smith doesn’t think the clay mineral crystals were “alive” anymore than a DNA sample is thought to be alive.  Instead, by acting as the first genetic materials for early life, clay mineral crystals created a link between the worlds of inorganic and organic chemistry.At some point, life launched free of its inorganic genetic origins – the organic substances that evolved from chemical interactions on the mineral layers became stable enough to live apart from their birthplace, and complex enough to replicate themselves into the future.Some mineral layer combinations probably worked better than others when it came to marshalling the organic molecules that were to eventually become genetic materials.  One of his favorite contenders for life’s early mineral template is authigenic chlorite, which can create complicated shapes that resemble brussels sprouts.  Such chlorite crystals growing inside sandstone often coat the sand grains and do not block the flow of solutions within the rock – a potentially important quality for the very first evolving systems.  However, rather than one particular mineral layer sequence leading to life, Cairns-Smith thinks many different mixed layer structures might have contributed to life’s evolution.Why has Alexander Graham Cairns-Smith rung this bell since the 1960s?  Mainly, because the other theories that focus on sugars, amino acids and RNA are too incredible.Cairns-Smith thinks such a chain of events was improbable on the early Earth – the nucleic acid and protein system of life is too complex to have sprung outright from simple ingredients.  Even the RNA world hypothesis, which envisions RNA playing dual roles that today are carried out by DNA and proteins, is a relatively advanced and sophisticated process.He can live with crystals – but not with an intelligent Creator.“A simpler kind of evolution came first, and then what are now the molecules of life came to be produced in a consistent way,” says Cairns-Smith.  “Of course there was no foresight here, but as soon as an evolutionary process was underway, the world would have changed and nature would have had a new set of toys to play with.” envisioned this vision illuminating the cosmos.  “If Cairns-Smith’s theory is correct,” Leslie Mullen ended, “then the spark of life may be shimmering on crystal surfaces throughout the universe.”We hope you were entertained by this clown act.  This is the kind of clown act where one clown carries a 2×4.  As he turns, he whacks the other clown in the face.In case you needed program notes, here’s what happened.  Cairns-Smith, as the fortuneteller Chlorite the Magnificent, looked into his crystal ball and saw brussels sprouts emerging from the sparkle of randomness.  He told his witless, breathless customer, Leslie Mullen, that he could visualize her emergence unfolding in the crystal, from random bits, to codes, to cells, to brussels sprouts and reporters.  As she rushed off to write this all down, he picked up his scepter to leave, put it over his shoulder, turned, and inadvertently whacked Gerald Joyce in the face with it, who had just come in to complain that Chlorite the Magnificent is a fake (02/15/2007, 11/29/2007, 07/11/2002).(Visited 41 times, 1 visits today)FacebookTwitterPinterestSave分享0last_img read more

Nigerian firm increases SA invesment

first_imgSouth Africa’s Sephaku Holdings has concluded an agreement with the Dangote Group that will see the Nigerian manufacturing conglomerate investing a further R779-million and increasing its ownership in Sephaku Cement from 19.8% to a controlling 64% stake. 26 August 2010 “We look forward to bringing our experience and expertise to the project and to producing cement by the end of 2012 as we seek to become the largest cement producer in Africa by 2014,” he said. Debt financing guarantees In terms of the agreement, Dangote will provide the necessary guarantees for the debt financing; fund any project overruns up to R265-million with a loan on commercial terms; and fund Sephaku Cement’s limestone exploration project in the Western Cape and Limpopo provinces up to R35-million, also with a loan on commercial terms. “Having completed the early works on site, we are now well positioned to start the main construction on our projects by the end of July this year, with completion scheduled for the third quarter of 2012,” Sephaku Cement CEO Pieter Fourie said in a statement this week. The capital injection follows Dangote’s initial R350-million investment, and will fully fund the equity requirement for Sephaku Cement’s R3-billion expansion project, which involves the construction of two new cement manufacturing facilities – a clinker and cement producing facility in the North West province, and a cement grinding facility at Delmas in Mpumalanga province. Fourie added that with adequate funding in place, Sephaku Cement would become a significant cement producer at a time when continued economic recovery would see a resurgence in construction activity and increased demand for the company’s cement products. Dangote Group CEO Alhaji Aliko Dangote told Business Report this week that the group was delighted to increase its pan-African footprint to include an enhanced presence in the South African market. Major continental producer SAinfo reporterWould you like to use this article in your publication or on your website? See: Using SAinfo materiallast_img read more

Happy Holidays from the Personal Finance Crew!

first_imgWe’ll be taking a break at the end of December, but we’re already looking forward to getting up and running in the new year with new blog topics, new web conferences, and more engagement in our social media spaces.We value your feedback: how can we better serve the Personal Finance Managers community in 2012? Please leave your comments!Have a happy holiday season and best wishes for a prosperous new year!last_img