The Delinquency Drop Home / Daily Dose / The Delinquency Drop Previous: Understanding Drops in Mortgage Delinquency Next: Court of Appeals Rules in Favor of Castle Law Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn Mortgage delinquencies fell by 0.9 percent year over year, according to the latest Loan Performance Insights Report from CoreLogic. By measuring delinquency as well as transition rates across all stages, CoreLogic’s report indicates the overall strength of the housing market.Employment increased by 196,000 in March, according to the most recent U.S. Bureau of Labor Statistics Employment Situation Summary, which Frank Nothaft, CoreLogic Chief Economist cites as one reason for the increased loan performance.”Income growth, home appreciation and sound underwriting combined have pushed delinquency rates to their lowest level in 20 years,” said Frank Nothaft, CoreLogic Chief Economist. “The low delinquency rates on home mortgages are a contrast to the rising delinquency rates on consumer credit. While home mortgage delinquency rates are at, or are near, their lowest levels in two decades, delinquency rates for auto and student loans are higher now than they were during the early and mid-2000s.”According to the Report, the overall delinquency rate has fallen on a year-over-year basis for the past 13 consecutive months, although, the largest gains in delinquencies were seen in areas affected by natural disasters, notably the Southeast. CoreLogic notes that five Southeastern metroes impacted by natural disasters also saw the biggest gains in delinquencies, including Panama City, Florida; Albany Georgia, and three North Carolina metroes: Jacksonville, Wilmington, and New Bern.Still, overall delinquency rates have been declining. The foreclosure inventory fell by 0.2 percent year over year as of January 2019, down to 0.4 percent.”As the economic expansion continues to create jobs and low mortgage rates support home buying this spring, delinquency rates are likely to trend lower during the coming year,” said Frank Martell, President and CEO of CoreLogic. “The decline in delinquency rates has occurred in nearly all parts of the nation.”Serious delinquency, or 90 days or more past due including loans in foreclosure, fell nationwide, except in one state: North Dakota, which remained unchanged. By metro, 13 areas saw increases in serious delinquency, while 14 remained the same and all remaining metro areas decreased.Find more from the report here. Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily Share Save The Best Markets For Residential Property Investors 2 days ago 2019-04-09 Seth Welborn Subscribe The Best Markets For Residential Property Investors 2 days ago Related Articles Servicers Navigate the Post-Pandemic World 2 days ago April 9, 2019 1,261 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Print This Post in Daily Dose, Featured, Foreclosure, Market Studies, News
Comments are closed. The Human Rights Act finally comes into effect in October, with far-reachingimplications for employers. But a recent survey found that even manypublic-sector organisations, who are directly subject to its provisions, don’treally know how to prepare for it. We asked some of those at the sharp end howthey think the Act will affect them and what they are doing to complySandra Campbell Chief personnel officer, London Borough of Bromley We have been conducting a human rights audit. We set up a small team oflawyers and personnel officers to look at the likely impact of what we do anddeliver. There are a lot of issues. We have already got a code of conduct for e-mailsbut we have got an eye on that. Also we are studying existing grievance anddisciplinary procedures to look for conflicts of interest. We have run a lot ofcourses including awareness training for senior officers and briefing sessionsfor our elected members and taking a comprehensive approach to raise awarenessbecause clearly members make decisions but it is also vital that theyunderstand concepts. I am taking a careful approach. But I am concerned about the increasing needfor resources to deal with the HRA. We are taking on a legal expert so thereare substantial resource implications, some of which may turn out to be valid.We are taking a joint approach between legal and personnel departments which beginsin best practice. Gareth Hadley Director of personnel, Prison Office headquarters The HRA will have little or no impact on our department as our policiescomply with and often exceed legal requirements. Our lawyers have alreadychecked our procedures and practices against the HRA. The only training we have introduced is for line managers about the impacton prisoners. We are a good employer and while there may be something we havenot thought about waiting to trip us up, we are confident that our practiceswill stand the test of this extra scrutiny. Helen Froud Director of corporate services, Worcestershire County Council Worcestershire County Council has been worried about the impact of the HRA.As a public authority we think the new Act will give the opportunity forcomplainants to pursue another route when they have exhausted the existingroutes of appeal. Clearly this may sometimes be in the public interest but itwill certainly be more expensive and may further protract hopeless cases. We decided early on to brief senior staff and councillors and to carry outan impact assessment of the law. I tasked our head of legal services to leadthe project. We produced sets of briefing notes for senior staff, providedtraining sessions for senior management groups and arranged specialist trainingfor key legal and HR staff. The training sessions covered the areas relevant to each directorate. Forexample, in educational services we concentrated on school admissions,prosecutions for school non-attendance and school transport. In environmentalservices we concentrated on planning issues and the rights of unsuccessfulobjectors, allegations of entrapment for Trading Standards and trafficregulation orders. In the social services department we discussed the issues of registration onthe Child Protection Register, the rights of those not receiving socialservices due to budget shortfalls and the possible impact of the right tofamily life on care proceedings. We helped management teams to select a few keypolicy areas where they felt they could be vulnerable and reviewed them in thelight of the HRA. We haven’t been able to check HRA compliance. We feel fairly well-preparedbut are still very unclear about how many legal challenges we will face.Webelieve the key policy areas may well be: openness in the planning arena;openness regarding traffic regulations; and the impact on child protectionprocedures and community care provision. Anne Coutts Personnel director, Chelsea & Westminster NHS Trust The trust is running a seminar for all managers on this Act and the likelyimplications both for us as an employer and as a health care provider. We seethis as being the first in a series of training events and briefings formanagers over the coming months and the specific actions such as theimplementation of new policies and practices within the trust. Our trust boardwas also briefed earlier in the year on the key components of the Act and thepossible ramifications for the trust. We foresee that certain conventions will have a particular impact upon us asan employer including Article 8: Right to respect for private and family life,home and correspondence; Article 9: Right to freedom of thought and religion;and Article 10: Right to freedom of expression. Our response will include developing policies on the use of e-mail and internetas well as reviewing the requirement in contracts of employment for medicalexaminations. We will also be looking at our equal opportunities policy and thetrust’s Code of Practice on Equality of Opportunity and envisage making someminor amendments to our code of practice on staff dress. Kirsty Ayre Solicitor with Pinsent Curtis The Act will have an impact on all employers but in the short term it willbe greater among public sector employers who will have a right of actionagainst them (section 6.1 of the Act). However, all employers need to be reviewing their equal opportunitiespolicies, their policies and practices for phone tapping, surveillance anddress codes. The primary reason for the impact on the private sector is thatemployment tribunals, as public bodies, have an obligation to act within theconvention and all existing legislation must be interpreted in a way that it iscompatible with the convention. Peter Kelk Chief inspector, Metropolitan Police Service The new Human Rights Act legislation reinforces our commitment to policingby consent and our approach to working with the public and reflects thestandards of behaviour expected from our officers according to our existingcode of ethics. We have set up a central unit to deal with the introduction of the Actwithin the service and this unit has a number of responsibilities. We arereviewing all our own policies and procedures across the organisation to ensurethat they are consistent with the Act and are contributing to the work theAssociation of Chief Police Officers is carrying out in this area. We haveproduced our own template for that review and our solicitors department isensuring that all our lawyers are fully trained in human rights issues. To ensure all Met employees are fully informed about the legislation we areinvesting in a comprehensive training programme. This consists of a distancelearning package for every member of staff, whether police officer or civilstaff, explaining what the legislation means for them and for the organisationas a whole. We are using the Met’s intranet site as an additional channel to brief allemployees on human rights issues. There is also a very comprehensive programmeof training for all those staff who have front line contact with the police. These training packages are role-specific so, for example, all our boroughcommanders will have a specialised knowledge about what is expected of them ina supervisory capacity. The Human Rights Act should hold no fears for any police service which isaware of the rights of individuals and treats communities appropriately. Shaun Stacey Employee relations manager, Naafi We are doing nothing directly because we are in the midst of a generalreview of policy and procedures and within the process we are seeking tointroduce best practice. In some of our stores CCTV is used and we are making sure that the processesare clear. But overall, the difficultywith the HRA is that it is a bit wishy-washy and we don’t know what theramifications are. A lot of our establishments are on military bases but that brings its ownpitfalls, because we have to protect not only our own revenue but also theposition of the military. We shall be consulting the Data Protection Registrar which is looking to issuea code anyway on how to monitor the behaviour of employees. Roger McKenzie Race equality officer, Public Commercial Services Union In our opinion, the main impact of the Human Rights Act will be in the areaof religious discrimination. A large proportion of our members are Muslims andit is right that they will have protection. With regard to the HRA in general we are about to ask our negotiator to workup action plans because our experience with new legislation over the years hasshown that firm actions need to be in place so that there is a proper and fullresponse by the employer. The unions are quite prepared to work with employers on these issues, but atthe end of the day it is down to the employers to make sure that all employeesare aware of their rights and also the implications of any breaches of theirrights. 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By Brad HaireUniversity of GeorgiaThey’ve changed how and where people live. They influence law and how people are governed. And as freer global trade forces the world into closer contact, plant diseases will continue to play a major role, says a University of Georgia expert.By knowing a little history and how these diseases shape society now, we can prevent them from misshaping our future, says Ron Walcott, a plant pathologist with the UGA College of Agricultural and Environmental Sciences.”Plant diseases in some way have affected virtually everyone in the world,” said Walcott, who teaches a UGA course in Athens, Ga., on the relationship between plant diseases and society.Sparks lawFor example, he said, a nasty, unnoticed Asian pathogen caused a disease that virtually wiped out the American chestnut tree around the turn of the 20th century. The pathogen found its way into the country through normal trade.Until then, American chestnut trees were common nut-bearing trees all over the United States. They haven’t recovered. “Chestnut blight is still here,” Walcott said.As a result of the disease, though, the Plant Protection and Quarantine Act of 1912 was enacted.Sparks migrationsPlant diseases have contributed to massive human migrations. And some say they’ve played a major role in regulating human populations, Walcott said.The most classic case of these mass migrations, he said, can be attributed to a potato disease that ravaged Ireland in 1845. At that time, the potato was the dominant food source for an Irish population that was growing out of control.Because so much could be grown on few acres, the average Irish man ate about 12 pounds of potatoes each day. “They also produced corn, pigs and other agriculture products,” he said. “But these products were used to pay the rent on the land and exported. Potato was by far the major food source.”A growing population that depends on one type of food spells trouble. Ideal weather conditions allowed a fungus to wipe out the Irish potato crop, causing an immediate famine and exodus. (Many of those Irish immigrants landed in Georgia.)But it wasn’t just the famine that caused the great Irish exodus. Due to superstition and an ignorance of plant diseases at the time, Walcott said, many thought they could do nothing else but leave.A plant disease caused a less known, but some say much worse, famine and exodus in India during World War II, he said.India wanted independence from Britain at the time. Tensions were high. Then Japan, Britain’s war enemy, began to advance on the region.The main food source for the Bengal region of India was rice. But a rice disease wiped out the crop. Coupled with war tensions, the disease contributed to the death or exodus of 2 million to 4 million Indians, he said.Sparks debate over rightsPlant diseases still affect us. One disease has sparked a debate over basic citizens’ rights in Florida.Citrus canker has badgered the Florida citrus industry since 1910. There is no cure. It was thought to be eradicated several times, only to come back stronger, most recently in 1995.To combat the spread, the state government, by law, can remove and destroy suspect trees from private property. This has upset many, particularly around the Miami citrus-growing area.”This disease has really brought to the fore, constitutionally, what right the government has to take over personal property for the greater good of the society,” he said.Walcott’s research focuses mainly on the understanding, causes and prevention of seed-borne diseases. He centers on a watermelon disease that has upset relations and caused lawsuits between seed companies and growers in South Carolina, Florida and Georgia.The most efficient way diseases can travel is through seed. Georgia farmers get much of their seed for crops from out-of-state.