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Foreclosure Wave Could Culminate in ‘Major Event’

first_img Foreclosure Wave Could Culminate in ‘Major Event’ Share Save Servicers Navigate the Post-Pandemic World 2 days ago The Best Markets For Residential Property Investors 2 days ago Phil Hall is a former United Nations-based reporter for Fairchild Broadcast News, the author of nine books, the host of the award-winning SoundCloud podcast “The Online Movie Show,” co-host of the award-winning WAPJ-FM talk show “Nutmeg Chatter” and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill’s Congress Blog and Profit Confidential. His real estate finance writing has been published in the ABA Banking Journal, Secondary Marketing Executive, Servicing Management, MortgageOrb, Progress in Lending, National Mortgage Professional, Mortgage Professional America, Canadian Mortgage Professional, Mortgage Professional News, Mortgage Broker News and HousingWire. Sign up for DS News Daily Related Articles The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Previous: Americans’ Credit Conditions, By State Next: Is There a ‘Zombie Apocalypse’ Ahead for Vacant Properties? Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Foreclosure Wave Could Culminate in ‘Major Event’  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago About Author: Phil Hall The near-future will be bringing a wave of foreclosures, according to a Federal Reserve economist, but this will not be at the severe levels experienced in the aftermath of the 2008 economic meltdown.In a presentation titled “Housing Insecurity in the Time of COVID-19,” William R. Emmons, lead economist with the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis, theorized that current fiscal policy will protect the economy and housing markets from experiencing the chaos that wreaked havoc during the last financial crisis.“It’s a slow-moving process,” Emmons said. “It definitely looks like there will be another major event, but hopefully not as bad as the foreclosure crisis associated with the Great Recession.”Still, Emmons added, the situation is serious, with past-due mortgages rising to a level seen at the start of the Great Recession, although the full nature of tumult is hard to determine due to moratoria placed on foreclosures and evictions during the pandemic. This percolating crisis will disproportionately impact lower-income households, Emmons added, disrupting hopes that a V-shaped recovery would positively impact all segments of the population.Probably the clearest massive supportive income were one-time payments and unemployment benefits, but those provisions expired at the end of July,” said Emmons. “The V has been interrupted.”Separately, St. Louis Fed President James Bullard presented his view on the current socioeconomic scene in a webinar titled “COVID-19 and the U.S. Economy: Progress on Health and Incomes.” Bullard observed what he viewed as significant progress in managing the global health crisis and predicted U.S. economic activity will likely record considerable growth in the third quarter.“I expect this rebound to continue in the U.S. as businesses learn how to produce products and services safely using simple, existing technology,” Bullard said.Bullard also credited U.S. monetary and fiscal policies as being effective during the pandemic, noting that “backstop lending programs stemmed an incipient financial crisis during the March-April time frame, to the point where current levels of financial stress are near pre-pandemic levels.”Nonetheless, Bullard stressed the pandemic is still with us and he suggested the second half of the year should be viewed as a time for adapting to a new mortality risk in the economy.“Simple mortality risk mitigation strategies hold the promise of delivering higher household incomes along with lower fatalities from COVID-19, thus improving outcomes along both dimensions,” he said. “The downside risk remains substantial and continued execution of a granular, risk-based health policy will be critical in the months ahead. in Daily Dose, Featured, Market Studies, News The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago 2020-09-29 Christina Hughes Babb September 29, 2020 3,392 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Subscribelast_img read more

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Pubs protest by turning on Christmas lights tonight

first_img Facebook Pubs protest by turning on Christmas lights tonight By News Highland – November 20, 2020 WhatsApp Google+ Pinterest Pinterest Important message for people attending LUH’s INR clinic AudioHomepage BannerNews Google+ WhatsApp Twittercenter_img RELATED ARTICLESMORE FROM AUTHOR News, Sport and Obituaries on Monday May 24th Previous articleLocal businesses ‘losing hope’ in reopening in DecemberNext articleWarning issued over dangers of open sea swimming News Highland Twitter Loganair’s new Derry – Liverpool air service takes off from CODA Facebook Arranmore progress and potential flagged as population grows Nine til Noon Show – Listen back to Monday’s Programme Pubs will turn on their Christmas lights tonight in a protest about not being allowed to reopen.Trade groups say that publicans have only been able to trade for two weeks out of the last 37.It will happen at 5pm.Vintners’ Federation boss Donall O’Keeffe says they’re hoping the public will join their campaign on social media:Audio Playerhttps://www.highlandradio.com/wp-content/uploads/2020/11/pubs8am.mp300:0000:0000:00Use Up/Down Arrow keys to increase or decrease volume. Community Enhancement Programme open for applicationslast_img read more

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