First Mortgage Default Rates Slide in April

first_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Black Knight CoreLogic default Experian Frank Nothaft Mortgage Bankers Association (MBA) S&P Dow Jones Indices S&P/Experian Consumer Credit Default Indices U.S. Department of Labor Share Save Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for First Mortgage Default Rates Slide in April The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago  Print This Post Related Articlescenter_img About Author: Eric C. Peck 11 days ago 729 Views The Best Markets For Residential Property Investors 2 days ago Home / Daily Dose / First Mortgage Default Rates Slide in April Previous: Savvy Homeowners Aim to Profit in Strong Sellers’ Market Next: A Look at Home Values in Communities of Color Servicers Navigate the Post-Pandemic World 2 days ago S&P Dow Jones Indices and Experian has released its latest S&P/Experian Consumer Credit Default Indices, which found that in April 2021, the composite rate was four basis points lower at 0.50%, with the first mortgage default rate decreasing four basis points to 0.33%. Year-over-year, first mortgage default rates stood at 0.66% in the midst of nationwide stay-at-home orders due to the pandemic.The S&P/Experian Consumer Credit Default Indices measures changes in consumer credit defaults, and in addition to first mortgages, measures bank card defaults and auto loan defaults.Unemployment numbers continue to take steps in the right direction as more and more Americans are regaining their financial footing after a year of the pandemic. Just last week, the U.S. Department of Labor reported unemployment claims at 473,000, a decrease of 34,000 from the previous week’s level, and the lowest level for initial claims since March 14, 2020 when it was 256,000.Regionally, four of the five major metropolitan statistical areas (MSAs) showed lower default rates in April compared to March. Miami saw the largest drop, falling 19 basis points to 1.04%. Chicago decreased nine basis points to 0.50%, while Dallas was down eight basis points to 0.51%. New York was three basis points lower at 0.83%. Los Angeles was the only MSA that increased, up two basis points to 0.52%.According to Black Knight, nearly 250,000 forbearance plans list expiration dates in May 2021, meaning that next month’s S&P/Experian Consumer Credit Default Index may see a rise in first mortgage default if those homeowners do not execute workouts with their servicers.And with first mortgage default rates holding at 0.33%, servicers are bracing for a potential flood of requests for forbearance extensions to curb any sort of rise in delinquencies as the nation’s economy looks to regain its footing.“Some families that had overspent during the year-end holiday season, and then faced financial stress in the new year, may slip behind on a mortgage payment by February,” recently said CoreLogic Chief Economist Frank Nothaft. “During each of the last five years, the 30-day delinquency rate moved higher from January to February. With economic conditions improving, we expect delinquency rates to move lower in coming months.”Further, in Q1, the Mortgage Bankers Association (MBA) reported the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a rate of 6.38% of all loans outstanding. The MBA includes loans in forbearance if the payment was not made based on the original terms of the mortgage. MBA’s research shows the delinquency rate dropped 35 basis points from Q4 of 2020, and experts at the MBA says there has never been such a substantial decline in the delinquency rate over such a short period of time. Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Journal, Market Studies, News Demand Propels Home Prices Upward 2 days ago Black Knight CoreLogic default Experian Frank Nothaft Mortgage Bankers Association (MBA) S&P Dow Jones Indices S&P/Experian Consumer Credit Default Indices U.S. Department of Labor 2021-05-19 Eric C. Peck Subscribelast_img read more

R&D focused Novomatic appoints ‘trusted hand’ Bartholomäus Czapkiewicz as Group CSO

first_imgShare StumbleUpon Kansspelautoriteit enters into MoU with Malta Gaming Authority August 28, 2020 John Williamson to oversee UK Tote Group’s international growth August 28, 2020 Seeking to bolster its research & development capabilities, industry technology supplier and games manufacturer Novomatic AG has confirmed the promotion of Bartholomäus Czapkiewicz as its new Group Chief Systems Officer (CSO).A Novomatic executive since 2008, Czapkiewicz has served the Austrian gambling technology group in number of senior executive positions, successfully delivering on key multi-national technology projects.In addition to taking on the leadership responsibilities of Group CSO, Novomatic informs that Czapkiewicz will be appointed to the firm’s Executive Board, as a key adviser to corporate governance on tech development and efficiencies.Updating stakeholders Bernd Oswald, Head of the Supervisory Board at Novomatic, AG stated: “We are thrilled to have Bartholomäus Czapkiewicz as a new member of the Executive Board. He is an internationally-experienced Research and Development mathematician and computer scientist, with a focus on system and platform solutions.Over the past few years, Bartholomäus Czapkiewicz has played a decisive role in successfully expanding our innovative abilities.”Moving forward Czapkiewicz will oversee the development and upkeep of 28 Novomatic owned technology centres operating within 16 countries.“I am looking forward to the new challenge and would like to say thank you for the trust placed in me. Now, as part of the successful Executive Team, my goal, in particular, is to continue development in system and platform solutions, and ensure that our processes become even more efficient as we look towards the future,” Czapkiewicz commented on the updated. SBC Awards: The key to an effective submission August 28, 2020 Share Submit Related Articleslast_img read more

Bolt wins 150m race at Copacabana beach

first_imgUsain Bolt opened his season with a 150-metre win on a track set up at Copacabana beach in Rio de Janeiro on Sunday.Bolt cruised to victory in 14.42 seconds, falling short of the world-best mark of 14.35 he set on the streets of Manchester in 2009. Antigua and Barbuda’s Daniel Bailey was second, ahead of Bruno Lins of Brazil and Alex Quinones of Ecuador.Bolt said he was satisfied with his performance after the race, which was held under scorching heat on a four-lane track built on Copacabana beach in the host city of the 2016 Olympics.“It was my first sprint race, definitely a good start for the season,” Bolt said. “I’m looking forward to coming down here in 2016.”Bolt celebrated by dancing with a few Brazilian dancers after the run, which was an official event supervised by the IAAF.He threw his running shoes to the fans, who endured huge lines to try to get near the track to see the Jamaican star up close.Bolt, the first man to successfully defend the 100 and 200 titles at the Olympics, was in Rio for four days, visiting social projects and participating in promotional events. Bolt said he is still “not sure” if he will compete at the London Diamond League meet in July, but agent Ricky Simms reiterated on Sunday that he is working to ensure the Jamaican returns to England.“We’ve had positive negotiations, it will be great for him to go back there a year after everything that happened last year,” Simms said. “It’s going to be a good event. We’ve just got a few things to finalize. In the next months, hopefully, we’ll find solutions.”The London meet, celebrating a year since the Olympics, would be one of his last competitions before the world championships in Moscow in August.Also Sunday, double-amputee Alan Oliveira of Brazil beat American runner Jerome Singleton at the Copacabana track. Oliveira originally was to race against Oscar Pistorius, who withdrew after being charged with the shooting death of his girlfriend Reeva Steenkamp. Oliveira beat the South African in the 200 at the London Paralympics.“I hope everything is solved, that the truth is told and that all parties solve this. Let’s see, let’s see how things will unfold,” Oliveira said. “He’s a great athlete inside the track, did what he did for Paralympic sport and I hope he continues to do so.”last_img read more

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