The Ticking Clock of Mortgage Delinquency

first_img About Author: Chuck Green Subscribe The Best Markets For Residential Property Investors 2 days ago Share Save Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Deeply Delinquent Loans 2020-08-21 Christina Hughes Babb While total past due mortgage flashed improvement last month, serious delinquencies saw an uptick while prepayment activity bolted to a 16-year high, according to Black Knight.In July, mortgage delinquencies trailed off 9% from June, with more than 340,000 fewer past dur mortgages compared to the month before.Meantime, early-stage delinquencies—loans with a single-missed payment—trekked below levels preceding COVID-19. That implies a recession in initial inflow of new pandemic-related delinquencies. That said, there was a surge in of 376,000 in serious delinquencies, which are those past due by at least 90 days. Contrasted to the pre-pandemic levels, they’ve now bounced more than 1.8 million.Because of widespread moratoriums, foreclosure levels remain muted. That said, starts ascended for the month while overall activity hasn’t budged from close to historic lows.As low rates remain on course to fuel the volume of both refinance and purchase activity, for the month, there was a slight bump in prepayment activity, finding its high water monthly mark since early 2004.Among a number of “first-look” at July month-end mortgagee statistics items from Black Knight:Total U.S. loan delinquency rate, which are loans past due by at least 30 days, but not in foreclosure:   6.91%Month-over-month change: -8.91%Year-over-year change: 99.96%A total of 0.36% total U.S. foreclosure pre-sale inventory rateMonth-over-month change: -1.80%Year-over-year change: -28.04%Total U.S. foreclosure starts: 9,900Month-over-month change: 67.80%Year-over-year change: -74.74%At 11.77%, Mississippi led the list of the five states by “non-current” percentage. “Non-current” totals combine foreclosures and delinquencies as a percent of active loans in that state. It was followed by Louisiana, 11.77%; New York, 9.66%; Hawaii, 9.60%, and New Jersey, 9.33%. On the other side of the ledger, Colorado, 4.75%, led the way among the bottom five states in that category, with Oregon nipping at its heels at 4.66%. The pack was rounded out by Montana, 4.51%; Washington, 4.36%; and Idaho, 3.82%.Flashing back, 7.3% of mortgages were behind by at least 30 days in May, according to CoreLogic. Reverberations of the recession on loan performance were the culprit.In the months preceding COVID-19, there were indications of sustained improvement in the performance of the U.S. mortgage. Meantime, the national unemployment rate mirrored a 50-year floor in February, while, overall, the delinquency rate absorbed a 27-month drop.The U.S. serious delinquency rate’s expected to quadruple in 2021, says CoreLogic. If that becomes reality, 3 million homeowners would be propelled into serious delinquency without additional government programs and support.As 2021 winds down, CoreLogic forecasts the U.S. serious delinquency rate to quadruple. That would propel 3 million homeowners into serious delinquency. August 21, 2020 1,986 Views Data Provider Black Knight to Acquire Top of Mind 2 days agocenter_img Previous: The Changing Face of Distressed Property Auctions Next: Housing Market Potential Finds Its Footing Despite Pandemic Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Home / Daily Dose / The Ticking Clock of Mortgage Delinquency Servicers Navigate the Post-Pandemic World 2 days ago Related Articles The Ticking Clock of Mortgage Delinquency Chuck Green has contributed to the Wall Street Journal, Washington Post, Los Angeles Times, San Francisco Chronicle, Chicago Tribune and others covering various industries, including real estate, business and banking, technology, and sports. in Daily Dose, Featured, News Tagged with: Deeply Delinquent Loans Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Umphrey’s McGee Offers Three 2016 Debuts In Knoxville Heater

first_imgUmphrey’s McGee continued their conquest of Tennessee last night, playing the second night of a three-night run in the state. This time, the band found themselves leading the charge at the Tennessee Theatre in Knoxville, TN, bringing fans to their knees for an incredible night of music. Umphrey’s continues to keep fans on their toes, and opened the show with their first “Depth Charge” since 2014! The song set the pace for a frenzied night of music, which saw the band bust out two more songs that hadn’t been played at all during 2016. The band reached deep into their catalog and pulled out Waylon Jennings’ “Good Ol’ Boys” in the first set for the first time since 10/29/14, and later they would bust out a version of Pink Floyd’s “Young Lust” for the first time since 2015, in the middle of “Phil’s Farm” no less.The show itself was jam-packed with highlights, including an “All In Time > October Rain > All In Time” sandwich and great versions of “The Pequod,” “Liquid” and more throughout the entire show. Watch some footage from the night streaming below courtesy of sharonkay99.The setlist can be seen below, courtesy of Umphrey’s McGee on Twitter.Setlist: Umphrey’s McGee at Tennessee Theatre, Knoxville, TN – 8/19/16Set One: Depth Charge -> Go To Hell, Pequod -> Liquid -> Similar Skin, Good Ol’ Boys, Forks, Hangover, Hurt Bird BathSet Two: You Got The Wrong Guy -> All In Time -> October Rain -> All In Time, Mullet Over, Plunger -> Miss Tinkle’s Overture, Phil’s Farm -> Young Lust -> Phil’s Farm, Wife SoupEncore: Rocker 2last_img read more

Gold Coast home comes with purpose built recording studio

first_img It was purpose built so is sound proofed. It has music and mixing rooms as well as an office.“His background is in recording music and sampling so he got approval to build that shed and then had it … properly and acoustically designed,” he said.“To have that sort of setup in that location, it’s pretty special.”He said it was rare for properties with recording studios to hit the market so it was music to many buyers’ ears when they did.After about a week on the market, Mr Scartozzi said he was already fielding interest from potential buyers, including one who also sampled music for artists.“I had someone who called me that’s interested who is moving from Sydney,” he said. More from news02:37International architect Desmond Brooks selling luxury beach villa9 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day agoThe studio is in a shed that is adjacent the house. Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 1:27Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:27 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenWhy Spring 2019 is a good time to sell01:27 “We’ve actually had offers too, it’s up to (the buyers) though to decide whether that stops the auction process.”The acreage estate includes a two-storey house with an entertainment terrace and pool, a double garage with shed and powder room, a second shed and multiple rainwater tanks.The recording studio has a separate driveway, which also makes it an ideal dual living option.“Any shed that lends itself to being made into a nice man cave or working from home scenario is great,” he said.The Bradman Drive residence will go under the hammer on December 15 at 10am. The Currumbin Valley estate at 9 Bradman Drive comes with a recording studio.AN unusual feature of one Gold Coast property will hit the right note with musicians and producers.The Currumbin Valley residence, which will go to auction next month, has its own sound proofed recording studio with music and mixing rooms adjacent its six-bedroom house.LJ Hooker agent Roberto Scartozzi, who is marketing the property with Lisa Psaras, said the owner had it purpose built for his work. MORE NEWS: Precious property comes with $100k worth of crystalscenter_img MORE NEWS: Family splurge on luxury holiday homelast_img read more