Mortgage Debt Hits New Highs

first_imgMortgage debt hit a record $15.8 trillion in Q3 2019, according to data from LearnBonds.com. According to the data, this is the highest amount since the 2008 economic crisis which stood at $14.7 trillion.The home mortgage sector rates showed a steady decline in recent years to hit a low of $13.3 trillion in the third quarter of 2013, and from the 2013 Q3, the debt has increased in a steady trajectory to hit the latest figures recorded in 2019. From the data, there was $401 billion in newly originated mortgage debt in 2018 Q4.“Generally, the mortgage is among the largest component of household debt across the United States,” LearnBonds notes. “However, the mortgage rates have been low since the last quarter of 2018. The Federal Reserve Bank resorted to lowering the rates in the wake of trade uncertainty which affected the global economic growth.”Additionally, debt-to-income (DTI) ratios are on the decline, loan-to-value (LTV) ratios are on the rise, and average credit scores for conventional conforming home loans ticked up as of Q3 2019, according to data from CoreLogic.The average DTI for conventional conforming loans was 36% for Q3 2019, down one point from a year earlier. CoreLogic noted that this shift may be a result of a “relaxing of affordability pressures” as mortgage rates eased in 2019.Mortgage rates declined over the first three quarters of the year and were down 1 percentage point on an annual basis in the third quarter of the year.CoreLogic noted that “credit-risk attributes of borrowers have shown dramatic variation in the last 20 years,” but that while DTI and LTV ratios have relaxed overall, “there has been no change in credit score standards.”Also, the high DTI and LTV loans tend to be fully documented “and thus are different than the pre-housing crash high DTI and LTV loans,” many of which were low or no-documentation loans.Over the past few years, new policies loosening credit standards for the GSEs have helped push average DTI and LTV ratios up for conventional conforming home loans.  Print This Post 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. in Daily Dose, Featured, Market Studies, News Related Articles About Author: Seth Welborn Home / Daily Dose / Mortgage Debt Hits New Highs Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: HUD: Affirmatively Furthering Fair Housing Rule ‘Ineffective’ Next: Mortgage Relief Scam Defendants to Pay $18.5M Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Mortgage Debt Hits New Highs Crisis debt Income mortgage 2020-01-07 Seth Welborncenter_img Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Subscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Save The Best Markets For Residential Property Investors 2 days ago January 7, 2020 1,657 Views Tagged with: Crisis debt Income mortgage The Best Markets For Residential Property Investors 2 days agolast_img read more

3 secrets to employee retention and executive development

first_imgWith the unemployment rate hitting a 50-year low of 3.6%, credit unions across the nation are competing like never before in a highly fluid job market. A 2018 Gallup pollfound that 51% of U.S. workers were looking for or applying for a new job, and with several top-tier banks raising their minimum wages to $15 per hour, wage pressures are growing.Average turnover rates for banks and credit unions peaked at 19.7% in 2018, according to BalancedComp’s annual salary and incentive survey. Average pay increase projections for 2019 reflect “the fastest market rate movement we have seen in eight years and definite proof that the typical 3% labor budget is not going to be adequate to stay competitive.”The community-focused mission of credit unions does a lot to increase loyalty among employees, but these days, employee retention, training and development, and succession planning are front-burner issues for many HR executives. ShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr continue reading »last_img read more

Lošinj and Susak get a boat connection with Trieste

first_imgAs part of the European project MOSES, which refers to the maritime and multimodal connection of the North Adriatic, Lošinj and Susak will receive a ferry line with Trieste.The Friuli Venezia Giulia region is the leading partner in this project, and in addition to the Primorje-Gorski Kotar County, the Istria County and the Italian Molise region are also participating. ”Within its part of the project tasks, PGC will coordinate the Pilot activities on the establishment of new maritime connections on the line between the port of Trieste, the port of Istria and the ports of Mali Lošinj and Susak. For this purpose, the rehabilitation of the operational pier and the construction of the coastal wall in the port of Susak will be carried out, and the plan is to start the line for this tourist season in the experimental phase, so to check interest in using this new boat connection from Trieste. PGC is primarily interested in this project due to the development of tourism through better maritime connections, and in addition we will receive funds for the reconstruction of port infrastructure on the island of Susak”, Said the Deputy Prefect of Primorje-Gorski Kotar County, Marina Medarić.The aim of the project is to improve maritime and multimodal transport services between Italy and Croatia in order to establish better and sustainable cross-border connections. The total value of the entire project is 1.175.085,00 euros, while the total budget of the Primorje-Gorski Kotar County is 312.850,00 euros.last_img read more

Polyamory Isn’t Good for Children: My Story

first_imgPublic Discourse 11 May 2015Recently, I had a discussion about marriage with someone who calls herself a “Darwinian gay feminist.” I asked her, “Is there any principled reason that marriage should be limited to only two people? There is now such a thing as a ‘throuple’—a three-way relationship. Should they have a right to marry?” She replied, “A union between three consenting adults? I see nothing wrong with it. The same goes for incest. It’s none of my business.”I take it that she was serious in her response. Given that she believes marriage should be redefined to include same-sex couples, I suppose that makes sense. If marriage is just an emotional and loving union focused on satisfying the desires of adults, then including three or more members in this union is only logical. But her position seems to discount the fact that there might be more than just consenting adults involved. What about children who are raised by three- or four-person groups?This isn’t just a hypothetical question. Last April, the New York Post published a story with this headline: “Married lesbian ‘throuple’ expecting first child.” The youngest member of the throuple and the biological mother, Kitten, said, “The three of us have always wanted kids and wanted to grow our family.” This might be their desire, but is this right for children? Is being raised by a throuple good for children?I am particularly sensitive to this question, because my own childhood gave me a glimpse of what it is like to be raised in such a household.Let me explain.My StoryI grew up in a household living with not only my mother and father, but also my half-brother and his mother. My father had two kids: one with my mom (me) and one with another woman (my half-brother, who was three months older than I). When my mother was not there, I would see my father and my half-brother’s mother kiss and cuddle. When my half-brother’s mom wasn’t there, I would see my mother and my father kiss and cuddle. Although I was very young, these images still remain with me.My mother and the mother of my half-brother were best friends. When they were in their late teenage years, they came from Guatemala together to the United States and developed a bond on their journey. My half-brother and I got along very well, but having the same father yet different moms in the household was confusing and troubling. It was confusing and troubling for me because I was never the center of my father’s attention, especially when he would mistreat my mom and when he would show affection to my half-brother’s mom. I hated seeing my father show affection to another woman who was not my mom.When I was six years old, my father broke off ties with all of us and started a new family with a third woman. It was at this point that my half-brother’s mother and my mother went their separate ways. From that point onward, my mother raised me by herself.Although this complicated romantic situation was not technically a “throuple,” because the adults each had their own beds and did not engage in three-person sexual acts, it gives a glimpse of what children would experience in such a household. I grew up seeing my father kiss and cuddle with two different women in front of me. This was the life I was exposed to until the age of six.As a teenager, I found myself following the relationship patterns my father had modeled, even though he had not been part of my life for over ten years. I would always have two or more girlfriends at the same time.What exactly explains this behavior? I am not sure, but I have a hunch that my childhood experiences played a major role. As an adult, I look back to my childhood and wonder: in all the turmoil and the romantic entanglements of my parents’ lives, where was the concern for my well-being? In our debates about the social and legal acceptance of polyamory, I fear that we are not sufficiently considering the children who might end up being raised by throuples. How will their future behavior be shaped by their upbringing?Is Polyamory Empowering?Some scholars argue that polyamory is a good thing—that it is empowering for women and helps children to be more tolerant of others. According to Elisabeth Sheff, “Polyamorous relationships provide women with more power in their relationships, allows some women to reject sexual and gender roles, allows sexuality to be viewed as a source of unity among some women, and empowers women’s high sexual drive.”But what about the children? Deborah Anapol, a clinical psychologist, interviewed adults in multi-adult relationships as well as children reared in those contexts. In her view,Polyamory breaks down cultural patterns of control as well as ownership and property rights between persons and, by replacing them with a family milieu of unconditional love, trust, and respect, provides an avenue to the creation of a more just and peaceful world. By changing the size, structure, and emotional context of the family, the personalities of the children developing in these families naturally change. Children learn by example.The unspoken—and untrue—premise implicit in this argument is that permanent, exclusive, faithful heterosexual marriages are based on nothing but a masked urge to “own” another human being, as if he or she were an object. Ironically, such objectification is actually more in line with the nature of polyamorous relationships, in which a partner is used to fulfill certain emotional needs but is supplemented by one or more others. Rather than committing to a single person in all of his or her complexity, weakness, and strength, those who choose polyamory try to acquire a collection of attributes that will contribute to their own enjoyment and perceived well-being.http://www.thepublicdiscourse.com/2015/05/14780/?utm_source=The+Witherspoon+Institute&utm_campaign=4b90b65d32-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_15ce6af37b-4b90b65d32-84094405last_img read more