Did the Great Recession Change the Mortgage Industry?

first_imgAlthough the Great Recession only officially lasted for a total of two years, from 2007 through 2009, its devastating ripple effects lasted—and were clearly felt by all—well beyond that, according to a new report. One main catalyst for this era in real estate history was the highly erratic and unstable mortgage market at the time. However, the problem lied in the fact that no one really knew this was the case until it was too late.From the outside, the economy appeared to be thriving, boasting low-interest rates and teeming with an abundance of mortgage lenders more than eager to offer loans to applicants across the board. With the chance to own a home at their fingertips, many would-be homeowners jumped at the chance to pursue their own slice of the pie, taking a shot at the idyllic American Dream of having it all, including homeownership. At this time, investors were literally banking on the belief that homes would continue to gain value, regardless of the telltale warning signs that were there, but few seemed to notice or regard.With the growing numbers of mortgages being handed out, the inevitable fallout became the fact that a plethora of risky borrowers was among the bunch, all of whom were more likely to—and eventually did— default on their loan payments. Enter the financial crisis and the Great Recession, thus setting an example of how sometimes things really can look and sound too good to be true, and leaving current consumers and prospective buyers and lenders wary of the recent growth in the economy. The signs are all pointing to the fact that it seems as if the market is “banking” on another shoe dropping, assuming yet another crash may just be on the horizon. The barebones of the current state of the mortgage industry are as follows: the majority of people today—especially the younger generations—are in debt and have less (if any) savings or residual income than their elders did at their same age.However, they are still making purchases that—in light of their circumstances—are financially questionable. Such choices include buying a home with very little or no savings. So the question remains: are we doomed to repeat history? It seems the answer is maybe, or maybe not, as credit and mortgage lending standards have become more strict since the Great Recession, yet mortgage lenders today are still approving loans for subprime borrowers, most of whom are applicants with mountains of non-mortgage debt already.  Subscribe Servicers Navigate the Post-Pandemic World 2 days ago in Daily Dose, Featured, Market Studies, News Did the Great Recession Change the Mortgage Industry? Home / Daily Dose / Did the Great Recession Change the Mortgage Industry? Data Provider Black Knight to Acquire Top of Mind 2 days ago Andy Beth Miller is an experienced freelance editor and writer. Her main focus is travel writing, and when she is not typing away from her computer at her home in the Hawaiian Islands, she is regularly roaming the world as a digital nomad, and loving every minute of it. She has been published in myriad online and print magazines, is a fan of all things outdoors, and finds life (and all of its business, technological, and cultural facets) fascinating in their constant evolution. She is excited to spectate as the world changes, and have a job that allows her to bring a detailed account of those constant shifts to her readers at home and abroad. March 18, 2020 1,264 Views  Print This Post About Author: Andy Beth Miller The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Related Articlescenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Share Save Previous: New Foreclosures Rose 3.5% From Prior Quarter Next: Industry Reacts to New York 90-Day Mortgage Relief Plan Servicers Navigate the Post-Pandemic World 2 days ago Tagged with: debt Great Recession housing market 2020 The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago debt Great Recession housing market 2020 2020-03-18 Mike Albanese Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days agolast_img read more

Official Statistics: PPE deliveries (England): 31 August to 6 September 2020

first_imgThese experimental statistics about PPE items distributed for use by health and social care services in England include a breakdown of deliveries by PPE item.The ‘Weekly PPE data’ attachment gives a more detailed breakdown of daily PPE deliveries from 25 February to 6 September 2020.last_img

Angels pitching prospect Nate Smith to miss 2018 season

first_imgSmith, 26, was expected to be called up in September 2016, but he felt a twinge in his elbow in his final start of the season at Triple-A. The Angels nonetheless added him to the 40-man roster a year ago, and in spring training of 2017, he began having more arm problems. He pitched just 15 innings in four games during the season, allowing no runs and striking out 14. Left-hander Nate Smith, who remains one of the Angels’ top-rated prospects despite missing most of 2017 with injuries, is expected to miss the 2018 season after undergoing shoulder surgery.Smith actually had the anterior capsule surgery in September, but it had gone unreported publicly. Smith’s agent, Jonathan Maurer, confirmed the surgery on Friday.Smith underwent a similar procedure as the Dodgers’ Julio Urias, Maurer said. The expected timetable for recovery is 12 to 14 months. Maurer said Smith is in good spirits and optimistic about his recovery, perhaps even beating the odds to make it back sometime in 2018.Smith, who is currently rated the Angels’ No. 9 prospect by MLB.com, rose through the system to the doorstep of the major leagues in 2016, starting 26 times in the Triple-A. Although he had a 4.61 ERA in the hitter-friendly Pacific Coast League, reports on his development indicated he pitched better, as the prospect ranking demonstrates. Newsroom GuidelinesNews TipsContact UsReport an Errorlast_img read more

French companies picked for 50-year University of Iowa utility lease

first_imgIOWA CITY, Iowa (AP) – A collaboration of two French companies would pay the University of Iowa more than $1.1 billion to secure the rights to operate its utility system for the next 50 years under a proposal released Tuesday.The Iowa Board of Regents is meeting Tuesday to consider approving the transaction with a newly-formed consortium made up of energy company ENGIE and investor Meridiam.Gov. Kim Reynolds told the regents that it is a “historic day for higher education in Iowa.” She called it an innovative approach that will create revenue that help finance the school’s strategic plan.Critics have called the deal risky, and attacked the university for not releasing the details until moments before Tuesday’s meeting.The documents show that the ENGIE-Meridiam consortium was recommended by a project team that considered bids from several others.The university would pay the new company a fixed fee of $35 million annually, plus operations and maintenance costs and reimbursement for capital improvements.The company would be responsible for running plants that distribute electricity, water, steam and compressed air and the sanitary sewer and storm sewer system.The $1.165 billion upfront payment would be invested in an endowment that would be used for energy costs and strategic education and research initiatives.last_img read more

England’s Annabel selected for Youth Olympics

first_img11 Jul 2014 England’s Annabel selected for Youth Olympics England’s Annabel Dimmock has been selected to represent Team GB at the second Summer Youth Olympic Games from 16th-28th August in Nanjing, China. The 17-year-old Curtis Cup player will be joined by Scottish golfer, Robert MacIntyre, and their team leader will be Rebecca Wood, the England Golf women’s Performance Manager. “It is huge for golf to be part of Nanjing,” said Rebecca. “It is going to be an amazing experience for these young athletes to compete at world level in the biggest multi-sport event for their age group.   “I know both of the athletes are really honoured to have the opportunity to be part of the Olympic experience and I’m sure they’ll go back and inspire future athletes to want to pull on the Team GB kit and compete at the Olympics.” Golf will return to the Olympics at Rio 2016 for the first time since 1900 when British golfers won silver and bronze medals. Annabel, 17, from Wentworth (Image © Leaderboard Photography), is ranked in the world’s 30 amateurs and represented GB&I in this summer’s Curtis Cup match. Earlier this season she won the Helen Holm Scottish open stroke play title and the matchplay Jones Doherty Cup in the USA. She was runner-up in the Welsh open stroke play, the South Atlantic ladies’ amateur and the Spanish amateur.   Team GB for the Youth Olympics consists of 33 athletes aged 15-18 years old who will compete across 14 sports at Nanjing 2014. They will test themselves against around 3600 of the finest young sportspeople from more than 200 other nations around the world. All 28 summer Olympic sports will feature across over 220 events in Nanjing. In addition, a Culture and Education Programme (CEP) will aim to develop the young athletes as individuals and teach them about the values of the Olympic Movement.last_img read more

Leafs outlast Rebels 7-4 to sweep through exhibition season

first_imgDarnel St. Pierre scored two third period goals to spark the Nelson Leafs to a 7-4 Kootenay International Junior Hockey League exhibition victory over the Castlegar Rebels Wednesday at the NDCC Arena.The win allowed Nelson to finish the preseason undefeated in five games and completed a sweep of the Rebels in the home-and-home series.During the exhibition season Nelson outscored the opposition 31-10. Blair Andrews also scored twice for Nelson with singles coming from Jamie Vlanich, Brandon Sookro and Carsen Willans.Derek Georgopolus, with a pair, Chase Rendin and Quinn Klimchuk replied for Castlegar, which jumped into a 2-0 lead early in the first period.Nelson outshot the Rebels 35-21 with Tyler Moffat and Adam Maida splitting the netminding duties.The two teams open the season Friday in Castlegar as the current KIJHL Champs prepare to defend the 2013 crown. Game time is 7:30 p.m. at the Castlegar Complex.Nelson returns to the NDCC Arena Saturday to meet the Creston Valley Thunder Cats in the team’s home opener.Game time is 7 p.m.last_img read more

What time is the 3-point contest?

first_imgSeth Curry, Portland Trail BlazersStephen Curry, … The 2019 3-point contest during NBA All-Star Weekend is sure to be one for the ages. Three of five players in the field are having the best individual seasons in NBA history for 3-pointers. They include Steph Curry, Buddy Hield and Kemba Walker. Are you ready? Here’s what you need to know for this epic shootout.When: 5 p.m. PT (second event)Where: Spectrum Center, Charlotte, N.C.Who: Devin Booker, Phoenix Suns (defending champ)last_img

Hanli Prinsloo: ‘Fall in love with the ocean, to save it’

first_imgSouth African Hanli Prinsloo travels the world to capture images of life in the sea. She gives public talks about falling in love with the ocean, a necessary step to protect it. She also heads I Am Water, an organisation that teaches children about ocean conservation. Besides running projects to teach children about ocean conservation in South Africa, Hanli Prinsloo also works in Bermuda and Ecuador. As part of her desire to educate people about marine life, she makes films about protecting sharks (Image: Screengrab via YouTube) • How much do you know about the ocean? •Gallery: Celebrate Marine Month in South Africa • Top 50 Brands in South Africa named • Teen campaigns organ donation through social media • Sandton goes car-free for a month Compiled by Melissa JavanThe success of each of the 17 United Nations’ Sustainable Development Goals (SGDs) would be the success of all, Hanli Prinsloo recently said at the World Economic Forum (WEF).The 17 SDGs include no poverty, zero hunger, good health and well-being, quality education, gender equality, clean water and sanitation, and affordable and clean energy. They were agreed for the world by the United Nations in August to continue from the Millennium Development Goals.Prinsloo, the chief executive officer of I Am Water Ocean Conservation Trust, said Goal 14 – on “life below water” – resonated with why she devoted her life and work to ocean conservation. “But as a woman and an African, every single one of the 17 SDGs will affect some part of my life,” she wrote on the WEF’s site.We are waterPrinsloo is an 11 times South African freediving record holder, filmmaker and avid ocean adventurer. In a TED Talk, she said: “I am nothing without the water inside me and the water around me.”TED began in 1984 as a conference where technology, entertainment and design converged. Today TED Talks cover almost all topics, from science to business to global issues. It is owned by a non-profit, non-partisan foundation that believes in the power of ideas to change attitudes, lives and, ultimately, the world.Prinsloo reminded her TED audience that one’s body consisted of more than 70% water. “This is even though we focus on air moving in and out of us, we are water. We move around in a world of air so we believe we are air.“Now we have become so used to breathing that we think it’s all we’ve done. But our first nine months of our lives we were in a watery world and we were born into this fantastically exciting world of smells and sights and sounds and air. All this air around us and then we forget about that watery world we come from,” she added.Using just one breathe, Prinsloo said, she could swim to a depth of 56m in the ocean, just using her arms and legs. “On one breathe I’ve held my breath in water for over six minutes and I am not the best in the world. Using weights to assist us and floatation devices to come back up, free divers have been down to up to 200m.“The most difficult thing I have learned is to trust myself and to trust what my body can do in water… The world record for men is over 11 minutes and that is not breathing pure oxygen. We know water; your body remembers water there’s a memory of water in us that we have just forgotten.”She challenged the audience to “spend some time in the water inside of you, in the water we have at our disposal and yes come on in the water is good”.“We are representatives of the ocean. I even see that with people who can’t swim who stand there and say to me: ‘I can’t swim but I love staring at the ocean.’ If you are an ocean gazer or explorer you’ve got that in you.”Watch Prinsloo pledge to protect the ocean, and explain why she was moved to do so:Why protect the ocean?In her report to the WEF, Prinsloo spoke about a study by the WWF and the Zoological Society of London, which said 40% of marine populations had halved since 1970. Many of the fish humans ate had posted a staggering 74% drop in population.“Oceans are the lifeblood,” she stressed. “Not only do 2.6 billion people depend on them for their primary source of protein, but more than half of the oxygen in the atmosphere is produced by the salty masses, while they absorb over 30% of CO2.”Chapter 5 of South Africa’s National Development Plan talks about protecting and enhancing the country’s environmental assets and natural resources. Prinsloo’s activism promotes this outcome of the plan. But it is not only a national issue; Goal 14 of the SDGs, she pointed out, had seven main targets, including a reduction of all kinds of marine pollution. It particularly mentioned land activities that resulted in marine pollution. Another target focused on community fishing practices and poverty.“As an ocean advocate, I have to believe that we can achieve SDG14.”More needed to be done to improve collaboration on this issue, especially between non-governmental organisations and governments, stakeholders and activists. “We know the challenges. The hard work now is to ensure that we work together to achieve the SDG14 targets – for the sake of the ocean and the planet.”I Am WaterI Am Water Ocean Conservation Trust was founded in South Africa in 2010. Its mandate is that humans and nature cannot survive without each other. “We believe ocean degradation is fundamentally due to human disconnect,” reads its website, “and the way to change the course for our oceans is engaging and educating individuals on their role for a healthy planet.”The aim for Prinsloo and her team is to make people fall in love with the ocean so that they will want to protect it. The trust’s projects include taking children from previously disadvantaged communities such as Masiphumelele township in Cape Town to the beach, teaching them to swim, and educating them about marine life and how to protect the ocean.Another project is raising awareness of the plight of shark populations around the world.Watch Prinsloo explain the importance of protecting sharks:Watch Prinsloo and others swim alongside sharks:last_img read more

Grilling sweepstakes offers Ohio State Buckeyes fans ultimate tailgate party and prize package

first_imgShare Facebook Twitter Google + LinkedIn Pinterest While the Ohio State Buckeyes football players and coaches are preparing for their season to kick-off, Get Grilling, Ohio — a project presented by the Ohio Soybean Council (OSC) — is getting ready for a season of its own: tailgating season, that is.A continuation of the Ultimate Backyard BBQ Sweepstakes that ran in the summer of 2015 and awarded one winner a prize package worth more than $2,500, Get Grilling, Ohio is back with the “Sear the Sooners Ultimate Tailgate Sweepstakes” in anticipation of all the cuts and pieces of meat that will be charred, smoked and cooked to perfection on grills at tailgating parties across the state during the Buckeyes’ season this fall.One lucky Ohioan will win a catered, pre-game tailgate for up to 20 people before the Ohio State vs. Oklahoma football game on Sept. 9 on Ohio State’s campus, two tickets to the game and a Buckeye tailgating package worth more than $3,000 that includes:Weber Liquid Propane GrillYeti Tundra 65 CoolerCustomized Ohio State Yeti Rambler Tumbler$250 Kroger gift cardFolding tent, tables, chairs and portable barOhio State grill cover and grill matOhio State cornhole setOhio State crock potOhio State BBQ utensils and accessoriesOhio State serving tray and bowlVarious meat cuts and food items (a $400+ value) courtesy of the Ohio Pork Council, Ohio Beef Council, Ohio Sheep and Wool Program, and Ohio Poultry Association.To enter for the chance to win the Sear the Sooners Ultimate Tailgate Sweepstakes, Ohio residents can fill out the entry form on the Get Grilling, Ohio Facebook page or at www.getgrillingohio.com. The entry deadline is Aug. 9 at 11:59 p.m. The winner will be announced the week of Aug. 14. OSC board members, staff, and their immediate family members are not eligible to win.Ohio soybean farmers work to provide the best possible meats for tailgating by providing livestock with the necessary protein to be healthy. By feeding everything from cattle to poultry, soybean farmers play an important role in moving meat from the farm to the store to the grill year-round, not just during football season.last_img read more

Yongnuo 50mm f/1.4: The Chinese Knockoff You’ve Been Waiting For

first_imgLens Construction6/7 Groups It’s no secret that photography and filmmaking is an expensive industry, so any opportunity to save a little money on quality is well received by consumers. This may shed some light on a shift in the gear industry…There will always be a demand for cheap equipment, but if more entry-level people begin purchasing less expensive ‘knockoff’ lenses, name-brand manufacturers may be forced to make lenses cheaper, effectively compromising quality for price.We’re going to be interested to see the quality of this lens. We are clearly not expecting it to be as good as the Canon 50mm, but eagerly await user tests.As of right now Yongnuo has not released a price or a release date for the 50mm f/1.4 lens. However, considering the price of the Canon is $400, we can probably expect to see the Yongnuo 50mm priced below $300.Is this lens going to be a good alternative to the Canon 50mm f1.4? Share your thoughts in the comments below. Aperture Blades8 Drive SystemDC motor Focal Length50mm Closest Focusing Distance0.45 m Filter Diameter58mm If you can’t beat ’em, create an exact copy and sell it for less?As far as Chinese knockoffs go Yongnuo is about as good as it gets. We’ve had some experience with shooting with a Yongnuo Speedlight and for the price you aren’t really going to find a better deal. Youngnuo products are primarily geared around lighting for photography. However, a recent announcement affirms that Yongnuo is expanding it’s product line by getting into the lens manufacturing business.One of these is a Canon Lens and the other is Yongnuo. Can you tell which one?Yongnuo has announced a 50mm f/1.4 that fits Canon EF lens mounts. The lens is a shameless ripoff of the similar Canon lens, but the specs are still pretty darn good. Most notably this cheap lens has 8 aperture blades making it a near replica of the Canon 50mm 1.4. The biggest difference comes in the form of the autofocus. The Canon has a patented Ultrasonic motor but the Yongnuo has a DC motor, so this might be a potential weak point in the Yongnuo lens. Here’s the rest of the specs:Yongnuo 50mm f/1.4 AF Lens Aperture Rangef/1.4-22last_img read more