Looking smart is easy when experts design for you. Askgraphics.com

go for custom blog design at Affordable price.

Read More

Bank of America leads Consumer Financial Protection Bureau complaints about mortgages

0

Posted by | Posted in Uncategorized | Posted on 16-11-2018

Thursday, October 3, 2013

A review this week by Wikinews of US Consumer Financial Protection Bureau (CFPB) complaints about mortgages in the United States shows Bank of America leads all lending institutions in complaints.

Since mortgages complaints were recorded in December 2011, 77,622 total have been added to CFPB’s database. 29.2% of these complaints involved Bank of America, with the second most received by Wells Fargo, accounting for 15.5% of all complaints. JPMorgan Chase ranked third by volume of complaints with 9.8%. Ocwen was fourth with 8.7% and Citibank was fifth with 4.8%. Nationstar Mortgage; Green Tree Servicing, LLC; HSBC; PNC Bank; U.S. Bancorp; OneWest Bank; SunTrust Bank; Flagstar Bank; and Select Portfolio Servicing, Inc. each had between 1.0 and 3.8% of total complaints. The remaining 14.4% of all complaints about consumer mortgages were divided between about 530 other lending institutions.

The Motley Fool reported last month that for the past fiscal quarter, the biggest US based mortgage lenders were from first to fifth Wells Fargo, JPMorgan Chase, Bank of America, Quicken Loans and U.S. Bancorp.

According to the US Federal Reserve, debt for family residences stands at US$10.706 trillion for the second quarter of 2013. As of the end of June of this year, Bank of America is the United States’s second largest commercial bank with US$1.343 trillion in domestic assets. Wells Fargo is the fourth largest commercial bank with US$1.251 trillion in domestic assets. JPMorgan Chase is the largest US commercial bank with US$1.329 trillion in domestic assets and US$1.947 trillion in total assets.

The mortgage complaints in the CFPB report include several subproducts. Conventional fixed mortgages account for 27.1% of all complaints. Conventional adjustable mortgages account for 10.0%. FHA mortgages account for 7.7% of all complaints. Home equity loans or lines of credit account for 3.8% of all complaints. VA mortgages are 1.4% of all complaints. Second mortgages and reverse mortgages each account for 0.6% of complaints. The remaining 48.7% of complaints are about other mortgages or other mortgage issues. A few years ago, FHA loans accounted for about 10% of all US mortgages while VA loans accounted for about 3%. Prime loans accounted for over 75% of the market and the rest were subprime mortgages.

California leads all states by volume of complaints with 14768. It is followed by Florida, New York, Georgia and Texas. When complaints are divided by a state’s total population, New Hampshire leads. The state is followed by Washington D.C., Maryland, Georgia and Florida. Complaints do not correlate with national rankings for August’s foreclosure rate by state where Nevada topped the list, followed by Florida, Ohio, Maryland and Delaware.

Two zip codes account for over 1,000 total complaints between them. 565 complaints originated in the 48382 zip code, which is in Commerce Township, Michigan, located in suburban Detroit. 553 complaints originated in the 33071 zip code, in Coral Springs, Florida. According to real estate website Zillow, there are currently 1,033 properties in foreclosure in Coral Springs while Commerce Township only has 131 properties currently in foreclosure. Four other zip codes have 100 plus complaints originating from them. 91730, in Rancho Cucamonga, California, had 158 complaints. 33409, in West Palm Beach, Florida, had 132. 92626, in Costa Mesa, California, had 125 complaints. 92660, in Newport Beach, California, had 122 complaints. Respectively, the towns had 534, 1,068, 153, and 134 properties currently in foreclosure. These numbers are higher than for the cities of a few sampled zip codes where there was only one complaint, such as Gold Hill, Oregon which has 4 properties in foreclosure, and Decatur, Illinois which has 6 properties in foreclosure.

The CFPB categorizes complaints into six categories: “Loan modification, collection,foreclosure” or problems when a person is unable to pay; “Loan servicing, payments, escrow account” or problems with making a payment; “Application, originator, mortgage broker”; “Credit decision / Underwriting”; “Settlement process and costs”, and “Other”. The CFPB says the complaint types indicate consumers “appear to be driven by a desire to seek agreement with their companies on foreclosure alternatives. The complaints indicate that consumer confusion persists around the process and requirements for obtaining loan modifications and refinancing, especially regarding document submission timeframes, payment trial periods, allocation of payments, treatment of income in eligibility calculations, and credit bureau reporting during the evaluation period.” Currently, 59.6% of all complaints against lenders deal with being unable to pay. 25.1% deal with problems in making a payment. 7.0% have to do with the application process.

Of the complaint-heavy zip codes, for 48382 in Commerce Township, Michigan, 98.9% of all complaints have to deal with being unable to pay. Accounting for 23.4% of all mortgage complaints in Commerce Township, 132 of the complaints for being unable to pay were made regarding Bank of America, accounting for 97.8% or all but 3 complaints against them from the zip. 121 of the Bank of America responses in Commerce Township were closed with explanation and 12 were closed with non-monetary relief. 33071 in Coral Springs is different, with 537 of the 553 complaints being categorized under other. Only 11 complaints relate to foreclosure and issues with being able to pay. 92626 in Costa Mesa, where 32% of the mortgage complaints were about Bank of America and 26.4% were about Wells Fargo, had 93.6% of its complaints dealing with being unable to pay. 5 total complaints dealt with payment issues and 3 dealt with applications.

Beyond regional variance in complaint types lodged, the top five mortgage lenders by volume of complaints all had being unable to pay as their top complaint category, ranging between 55.8% for Citibank and 69.4% for Bank of America. Problems with payment accounted for the second largest area of complaints, with Ocwen having the largest percentage of complaints at 31.9% and Bank of America having the smallest at 18.8%. Foreclosure was the top area of complaints for a number of other lending institutions including 1st Alliance Lending, OneWest Bank, Ally Bank, Banco Popular de Puerto Rico, Bank of the West, BMO Harris, BOK Financial Corp, Caliber Home Loans, Inc, Capital One, Deutsche Bank and EverBank.

Nationally, complaints reached a high of 5,840 for January 2013, 1,107 more than the next highest month of April 2013. The total emerging for September is the second lowest since records were first kept in December 2011. On a state by state level, this pattern largely repeats with a major exception for Florida which saw a peak of 849 complaints in June 2012. Then, as now, Florida was one of the top five states in the nation in its foreclosure rate. The national January spike came as the Qualified Mortgage standard required by the The Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 came into play. It required mortgage lenders to take steps to insure borrowers could repay their mortgages.

Bank of America’s complaint volume follows the national trend, with a spike in January 2013 with 1,925 total complaints. Unlike nationally, the next month by volume of complaints was February of this year with 1,598 complaints. Prior to that, the highest month was May 2012 with 1,418 complaints. The lowest volume of complaints is September this year with 334.

Wells Fargo matched national trends for volume of complaints by month, with the exception of the current month being the lowest on record for number of complaints with 197 compared to the next lowest month, December 2011, when they had 221. JPMorgan’s complaint volume by month spiked in January and March of this year with 504 complaints. April of this year was the next highest month with 493 complaints, edging out May of last year with 488 complaints. September this year is on track to be the lowest month by complaint volume.

The federal government shutdown is unlikely to impact the current mortgage situation in the United States directly for most consumers, though mortgage processing by the Federal Housing Administration could be slower, resulting in fewer mortgages processed.

Finding Smoke Shops In Seattle WA

0

Posted by | Posted in Fans | Posted on 16-11-2018

byAlma Abell

People who smoke tobacco do so for many different reasons. Smoking reduces stress and allows you to calm down when you are feeling anxious. It also slows your blood flow- which can be good for people who have extremely high blood pressure. There are also plenty of tobacco flavors to choose from which makes smoking a very enjoyable experience. You can also try new things like electronic cigarettes, which are fairly new in the world of smoking. A quality smoke shop will have flavored tobaccos, pipes, electronic cigarettes and fluid for them as well as many other smoking accessories.

YouTube Preview Image

If you are looking for Smoke Shops in Seattle WA, then visit Thevaporium.com The Vaporium is one of the most popular Smoke Shops in Seattle WA because they offer a wide range of products. When you are looking for a new smoke shop it is important that you know they are doing a lot of business. Stores that only see a few customers per day are obligated to charge much higher prices for their products. A store that does quite a bit of business is able to offer you the same products at a much cheaper rate because they are selling them so much faster. Their profit margins are about the same as a slow store, but they are willing to do this because of the steady supply of customers. Keep that in mind when you are looking for a new smoke shop in your area.

Electronic cigarettes are a fairly new addition to the world of smoking. They provide you with a liquid vapor that is heated to the point that it becomes a gas, which you then inhale. This vapor is purely nicotine fluid- which is the chemical present in cigarettes that makes you feel addicted to them. When you get a rush of nicotine from another source, and it even feels like you are hitting a cigarette, your body will be satisfied and you will no longer crave a smoke. Nicotine itself is not harmful for your body to consume- it is all of the other additives in cigarettes that make them so dangerous. Be sure to stop by your local smoke shop and check out an electronic cigarette if you are looking for a much healthier smoking experience then visit Fan page of The Vaporium

Airborne sedan smashes into dental office in Santa Ana, California, US

0

Posted by | Posted in Uncategorized | Posted on 15-11-2018

Tuesday, January 16, 2018

A car accident involving the car occupants and a dentist’s office happened on Sunday night in Santa Ana, California. A white Nissan sedan which was apparently driving too fast hit the raised concrete median on the road, after which it was launched into the air, slamming straight into the wall of the second floor of a two-story dental practice building, where the car got wedged.

According to the police, the car approached from a side street. The room of the dental office penetrated by the sedan was used as a storage space. A fire department crane was used to extract the vehicle from the building, which took several hours.

There were two people in the sedan. One of them managed to escape from the hanging vehicle on his own, while the other one remained trapped inside it for over an hour. They were both hospitalized with minor injuries, according to the Orange County Fire Authority (OCFA). According to the police, the driver of the car admitted narcotics use, and after toxicology tests the case is to be submitted to the Orange County District Attorney’s Office.

The moment of the accident was captured by surveillance video from a bus which the car narrowly missed when becoming airborne.

According to OCFA spokesperson Captain Stephen Horner, there was a small fire after the crash, which was extinguished quickly.

Category:University of Sheffield

0

Posted by | Posted in Uncategorized | Posted on 15-11-2018

This is the category for the University of Sheffield, in Sheffield, South Yorkshire, England.

Refresh this list to see the latest articles.

  • 5 March 2014: Wikinews interviews specialists on Russian intervention in Ukraine
  • 21 July 2010: Astronomers discover largest star on record
  • 4 October 2009: Second stone circle found one mile from Stonehenge
  • 30 January 2007: Home of Stonehenge builders found

From Wikinews, the free news source you can write.


The Arts Tower, University of Sheffield. Image: Chemical Engineer.


Sister projects
  • Commons
  • Wikipedia

Pages in category “University of Sheffield”

Oil spill hits Australia’s Sunshine coastline

0

Posted by | Posted in Uncategorized | Posted on 14-11-2018

Sunday, March 15, 2009

200,000 litres of oil leaked into waters off the coast of Brisbane from the Pacific Adventurer when their fuel tanks were damaged in rough seas on Wednesday. The figure is about ten times higher than the original estimate of twenty thousand litres of oil. The devastating diesel oil spill has spread along 60 kilometres (37 miles) of the Queensland coast. In addition, 31 containers with 620 tonnes of ammonium nitrate fertiliser flew overboard during the violent storm.

Questions are being asked why the Hong Kong cargo ship was out in seas with nine meter waves caused by Cyclone Hamish, a Category 5 tropical cyclone, as well as why the fertiliser containers were not properly secured. One of the overboard containers ruptured the hull of the Pacific Adventurer, causing between 30 to 100 tonnes of oil to spew from the severely damaged ship.

If the ammonium nitrate mixes with the heavy oil, an explosion could occur. None of the containers have been recovered. Some of these may float, but it is believed that they may have sunk which then may cause algal blooms.

Disaster zones have been declared at Bribie and Moreton Islands, and along the Sunshine coast.

The vessel’s owner, Swire Shipping, reported that a second leak began on Friday, when the ship began listing after docking at Hamilton for repairs. “As full soundings of the vessel’s tanks were being taken at the port to determine how much oil had leaked from the vessel, a small quantity of fuel oil escaped from the Pacific Adventurer,” it stated. The ship was brought upright, and a recovery vessel was used to suck up the oil from the water. The leak produced a 500m-long oil slick down the Brisbane River. Booms were placed around this oil spill so that a skimmer could clean up the second spill.

Swire Shipping could face clean up costs of AU$100,000 a day as well as fines up to AU$1.5million (US$977,000; £703,000) if found guilty of environmental breaches or negligence.

Sunshine Coast beaches are slowly starting to be reopened. The beach of Mooloolaba was still closed following reports of burning sensations from swimmers. 12 beaches remain closed; however, 13 have been reopened.

Over 300 state government and council workers are using buckets, rakes and spades in the clean up effort. Sunshine Coast Mayor Bob Abbott says the majority will be gone by Sunday afternoon. The full environmental impact on wildlife is not yet known. One turtle and seven pelicans have been found covered in oil.

There are concerns that the drinking water of Moreton Island is at risk, as the island uses water from the underground water table near the oil spill site.

“Every bucketload of contaminated sand has to be removed from the island by barge, and each bucketload from a front-end loader weighs about one tonne. It’s just an impossible task,” said Mr Trevor Hassard of the Tangalooma Dolphin Education Centre.

The commercial fishing industry has suffered from the incident. Trawlers won’t resume operations until Sunday evening, and any catches will be tested for human consumption.

The Ease Of Obtaining Cash For Gold In Villa Park

0

Posted by | Posted in Gold | Posted on 14-11-2018

byalex

There are many unique ways to come across a little extra income in this day and age. Whether you try your luck taking online surveys, or get your meal paid for by being a secret restaurant shopper, there are plenty of opportunities. And while these are adequate money-making opportunities, people often fail to realize that they have money just sitting around the house in junk items that they neglect. Whether in the form of aluminum cans that are getting tossed into the garbage, or scrap metal in outdated electronics that are rotting in the garage, we neglect hundreds and even thousands of dollars without even knowing it. One area in particular where this is especially prevalent is in junk jewelry or precious metals. In most cases, they just sit around, year after year gathering dust. However, by going the route of a Cash for gold Villa Park service, you can easily come across a hefty payday depending on what you have. Below, we have outlined a couple aspects that make going the route of a cash for gold service such an easy concept to take advantage of. Locating Items From Around The House

In most cases, selling scrap gold for cash typically requires you to hit your junk jewelry reserves and pull out items that you feel are obsolete. You generally do not have to worry about the purity, the shape in which the jewelry is manufactured or the weight. All you have to do is gather it up and either ship it in a pre-stamped envelope, or take it in directly and get close to spot value for the amount that you have.

Getting Top Dollar For Junk

Aside from the ease of gathering items from around the house, the amount of Cash for gold Villa Park that you get is fairly surprising. In fact, you may even have enough junk laying around the house to get money for a month or two’s worth of bills.

There are plenty of ways to get a little extra income on the side. However, nothing beats simply gathering items from around the house, mailing them out to a resource that will then send you cash directly for the items that you sent.

Posted deadlines for Christmas delivery

0

Posted by | Posted in Uncategorized | Posted on 13-11-2018

Wednesday, December 21, 2005

In the United States of America and other parts of the word, as Christmas and the holidays draw near, shippers have released information on shipping deadlines. Remember to always clearly label and address your holiday packages.

United States: Dr. Larry Nassar sentenced in sexual abuse case

0

Posted by | Posted in Uncategorized | Posted on 13-11-2018

Saturday, January 27, 2018

Former USA Gymnastics team doctor Larry Nassar was sentenced to prison on Wednesday for 40 to 175 years in Ingham County, Michigan, United States. Nassar pleaded guilty in November to seven charges of sexual assault in Ingham County, however, he is alleged to have victimized over a hundred girls over several years. Nassar is currently serving a 60-year sentence for federal child pornography charges.

Judge Rosemarie Aquilina, presiding over the Ingham County Circuit Court in Lansing, Michigan, handed down the sentence, stating: “I’ve just signed your death warrant.”

Rachael Denhollander first accused Nassar, filing a criminal complaint in 2016. Nassar was charged in Ingham County with seven counts of sexual abuse and pleaded guilty in November of 2017. The true number of victims is alleged to exceed one hundred. During the sentencing hearings in court over 150 women testified Nassar abused them. Alleged victims include famous Olympic gymnasts, such as Simone Biles, Aly Raisman, and Gabby Douglas, although Nassar was not specifically charged with abusing them.

Judge Aquilina read out parts of a statement Nassar submitted to the court. In the statement, Nassar wrote, “I was a good doctor, because my treatments worked and those patients that are now speaking out are the same ones that kept coming back over and over”. He also criticized an earlier judge for going “ballistic”. Aquilina declined to read the entirety, citing concern for the victims; “I don’t want them re-victimized by the words in the letter”, she said.

Nassar served as the team physician for USA Gymnastics for years, spanning four Olympic Games. Simultaneously, he served with Michigan State University. He abused his victims under pretense of treating them as a doctor.

Nassar’s case has led to allegations of lack of oversight by Michigan State University, USA Gymnastics, and the United States Olympic Committee (USOC). At USA Gymnastics, prior to the sentencing three board members resigned over the case on Monday, as well as its president last year. Corporate sponsors of the organization also pulled out.

The current president of USA Gymnastics, Kerry Perry, who was appointed in December, released a statement after the sentencing: “During the last seven days, more than 150 courageous women have shared their deeply personal experiences and how Larry Nassar’s despicable crimes impacted their lives. […] USA Gymnastics applauds Judge Rosemarie Aquilina for handing Nassar the maximum sentence of up to 175 years[…] As stated on my first day on Dec. 1, 2017, I will not waver on my commitment to focus each and every day on our organization’s highest priority — the safety, health and well-being of our athletes.”

USOC head Scott Blackmun also released a statement in which he apologized: “The purpose of this message is to tell all of Nassar’s victims and survivors, directly, how incredibly sorry we are. We have said it in other contexts, but we have not been direct enough with you. We are sorry for the pain caused by this terrible man, and sorry that you weren’t afforded a safe opportunity to pursue your sports dreams. The Olympic family is among those that have failed you.”

Both Reuters and the Los Angeles Times noted applause in the courtroom when Nassar was escorted out. Judge Aquilina said, “There has to be a massive investigation as to why there was inaction, why there was silence.”

G20 agrees to avoid currency war, also agrees to reduce trade imbalances

0

Posted by | Posted in Uncategorized | Posted on 13-11-2018

Tuesday, October 26, 2010

The Group of 20 (G20) of the world’s leading developed and developing countries’ finance ministers agreed on Saturday to pursue a plan that would avoid dangerous currency devaluations and would also would attempt to reduce trade imbalances. The plan was introduced by the United States, and the G20 meeting was held in South Korea.

The plan was announced amid rising worries of a “currency war” that would lead to devalued currencies in order to get an export advantage and would damage the global economy. “Our cooperation is essential. We are all committed to play our part in achieving strong, sustainable and balanced growth in a collaborative and coordinated way,” a statement released by the G20 said.

On the topic of trade imbalances, the G-20 stated that “excessive imbalances” would be “assessed against indicative guidelines to be agreed.” This statement was weaker than a commitment proposed by United States Treasury Secretary Timothy Geithner, which would keep trade imbalances “below a specified share” of GDP for the next few years. This proposal was met with strong opposition from export-based economies such as Japan, whose Finance Minister Yoshihiko Noda argued that specific targets were “unrealistic”, but approved of unspecific “guidelines”. He added: “There are many perspectives on the current account issue. Every country has a different situation when it comes to surpluses and deficits. So we need to study this carefully.”

The United States said that they will continue to push for numerical targets and specific time frames at next month’s South Korean summit, where the heads of state of the G20 will convene. “If the world is going to be able to grow at a strong, sustainable pace in the future . . . then we need to work to achieve more balance in the pattern of global growth as we recover from the crisis,” US Treasury Secretary Geithner declared. The finance ministers also set China on the track to floating its currency more, and overhauling the International Monetary Fund (IMF) to give more representation to developing powers such as China and India.

The G20 was created in 1999, includes both developed and developing countries, and represents 85% of the world’s economy. The G20’s heads of state will meet in Seoul, South Korea, next month.

Residents in Seattle, Washington will soon ride the ‘S.L.U.T.’

0

Posted by | Posted in Uncategorized | Posted on 12-11-2018

Wednesday, September 19, 2007

Construction workers in Seattle, Washington located in the United States are nearing completion of a new light-rail trolley, but it is not the trolleys that are making the residents of the city laugh, it is the abbreviation that city officials designated for the new transit system.

The new transit system, South Lake Union Streetcar (SLUS) has had an unofficial change in its abbreviation to “S.L.U.T.” by local residents. Some have even designed and sold more than 100 t-shirts saying “Ride the S.L.U.T.”.

City officials admit that they were aware of the notion before they named the system, but did not care enough to rename it and didn’t give the acronym ‘streetcar’ to avoid the outcome. Officials say that streetcar sounded more modern than trolley.

The project, built by Vulcan Development, is costing US$50.5 million to build.